Savings & Investments – What you need, Why & How

Savings and Investing are often are used interchangeably, but there is a difference. What are they? Why are they helpful? And how can they benefit you?

This is an area that truly merits taking professional advice, but it’s very important to have a grasp of both areas, and their differences, before considering them for yourself.

Saving is setting aside money you don’t spend now for emergencies or for a future purchase. It’s money you want to be able to access quickly, with little or no risk, and with the least amount of taxes. Financial institutions offer a number of different savings options.

Investing is buying assets such as stocks, bonds, mutual funds or real estate with the expectation that your investment will make money for you. Investments usually are selected to achieve long-term goals. Investments can be categorised as income investments or growth investments.

Making a choice between either saving or investing will depend on your goal(s) and your ri