I feel it depends person to person but generally it is better to invest than save, it is important to split your money between the two but if you had a large chunk you should put more in to investments than savings. This is because savings will grow only by a very small amount if at all whereas investments can grow largely and you can be rewarded financially in later life.
Most of your money needs to be invested and only keep enough money ready in case of some kind of emergency happens, that is why many people do not make progress in their lives as fast as they can since they do not invest most of their money, not only that, the savings rates in many parts of the world are very small that is why people do not move up in the economic ladder.