Savings Vs. Investing

By: Sam Swanson

Savings and Investing Differences

One of the major things that you should know about the difference between savings and investments are that savings are basically used for emergencies and are more liquid. This meaning that savings that are kept, are easier to take from a savings form, and into a ready to spend form. Investments can be thought of a way that can secure what is to come in the future. Therefore this has qualities that help build wealth, but also are more difficult to turn into a ready to spend form. Thus meaning investments are less liquid.

Reasons to develope a savings account

There are many reasons why a person should start a savings account. The most encouraging/motivating reason is to help people stop un-needed reckless spending. Like my mom, implementing a savings account can be very useful if she buys one to many items at the mall. Ultimately a savings account can ensure you will have financial security, when you need it, or not.

Saving Services Offered by Banks

About every bank you could think of would offer you saving plan. In any bank you can earn interest by just having a savings account. The amount of interest you earn is based on how much money you have in the account. In the modern day, banks such as Chase Bank, only offer a minimal interest rate, not really benefitting you in a short period of time. over time though the interest could benefit you in an abundance of ways. Ultimately banks offer ways to invest in you, if you invest in them.