Saving and Investing
By: Michaela Koopmeiners
Why is savings important?
The reason why saving is important is with saving accounts, you can add as much money you need but only get .0019% interest. With government savings bonds, they last up to twenty years and you get 5-6% interest. Which is a lot more than a savings account.
Why is investing important?
Some reasons as to why investing is important is that you're investing in something might be more profitable or useful in the near future. And with investments, you always get something back in return.
Tips on saving
How to save more
- Always know how much you're saving
- Create your own savings plan
- Create a budget with saving in mind
- Create a savings account or a savings bond
Tips on investing
- Define your goals
- How quickly can you get your money back
- What the risks are