Saving and Investing
by kelsee gillispie
Why are saving and investing important?
Saving helps the economy grow. How does this work? Personal savings (example bank account) provide funds that banks can lend to businesses for expansion what economists call investment in capital goods
Saving can help you reach important goals. The idea of saving money is less and rather boring to Americans then the idea of spending it. In fact, some economists define saving as "consuming less now in order to consume more in the future." We all have some type of goal for the future like buying an car, and to buy a car you need to have money. So setting aside a small or large portion of your income now will help you cover later expenses is saving for the future.
Investing is important because:
-- Can help with retirement
-- Earns a higher interest than any form of saving
-- easy way of making more money