Savings and Investments
By Achal Mehrotra
Savings and Investments are absolutely important for every citizen. They can be used in various ways to meet expenses but it must be understood that there are some major differences between the two.
Economists and bankers always advise that 'savings' as a habit has to be learned at a very young age; this essentially teaches the value of money in a small way and helps to understand macroeconomics at a later stage.
Saving money and investing money are two completely different concepts altogether; savings is part of the money left over after monthly or annual bills and expenses have been met or keeping aside a certain portion of the income.
Savings are generally used to deal with unexpected expenditure like an illness or unforeseen accident, home repairs, educational expenses etc. It can be a pre-fixed percentage of total earnings like 10 percent or 20 percent. In other words, savings is hard cash 'saved' from expenditure by being cautious or avoiding an expenditure altogether.
Investments on the other hand pertain to that certain sum of money put aside in financial products or systems to generate returns and increase incomes.
Determine how savings and investments differ ... Click to Continue
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