I want to thank @Verskil for nominating me for SUNSHINE BLOGGER AWARD of the month. Thanks a lot once again Jennifer Osuji.
If you are saving, it should be for the short-term to achieve your goals and for a long-term goal, you should be willing to take risk by investing which is making your money work hard for you to become financially free.
If you need help, you can visit asset management houses, financial advisers who will give you advise on what to invest on.
Once you have saved enough, invest part of savings in assets that will appreciate like MUTUAL FUNDS, STOCK, BOND and COMMODITIES. To invest in stocks is to invest in businesses that you cannot manage yourself but by people who own shares in businesses that they built and gives your money value over time.
Diversify your investments to control the risks and buy into Investments that gives compounding interest that grows with time for your long-term goals.
The difference between an INVESTOR and SAVER is that an INVESTOR is someone who takes the money they save and puts it to use buying assets like stocks, Treasury bills, mutual funds and bonds that makes them grow rich and create another stream of income for them while a SAVER puts money in the bank with very little interest for the sake of being secured.
Stocks, mutual funds, Treasury- bills and bond are extremely enticing long-term investments which have a level of risk but they can be unsteady and exposed to short-term fluctuations in value but requires a long-term dedication to give the expected growth. Being rich is not the money one gathers by saving, but the money one put to ACTION.
Saving money portrays money in the bank that does no work and loses value with time. If your money is made stagnant it’s not an asset but liability. Saving is a good habit, but without investing, it stagnates. Being a saver takes discipline, patience and commitment but you take step further to take risk which is the path to being rich.