Savings vs. investing

Brooke Elswick

the diference between saving and investing

There is a big difference between saving and investing that some people don't see. Saving is when you put so much money off to the side to save for emergencies or anything important. Investing is when you put money into something that, in the end, could get you money, but you have a greater chance in losing the money.

reasons to develop a savings plan

More people should develop a savings plan because savings are important. Lets say there is a small house fire. A little bit of your kitchen is burned. How are you getting the money to pay for the damage? Savings. You could use your credit but you would have to pay all of that off eventually. If you save, you wont need too.

saving services offered by banks

Chase Bank offers an "Automatic Savings Plan" that lets you set up a repeating automatic transfer from your chase checking account. You can change this whenever you want and arrange the amount you want to transfer. Also, they can waive your monthly fee if you have a transfer of $25 a month. There is also 24 hour access.