The traditional norms made us believe that savings are a safe option to store your wealth.
But is it true now?
With inflation, we all know that the prices of the wealth we have kept in our savings account will decrease. What is the use of saving when ultimately we are not even able to enjoy what we have been saving for years?
The smarter option?
Investment! Investment is not gambling if done rightly. Very often we see people not putting too much effort into learning and jumping into FOMO. They dont have enough guidance that will help them to invest better.
I have seen this issue being debated several times, and to be sincere, it can be confusing sometime, because both are necessary, investment is very vital because that is the only way we can have a river of income that will never run that, but that is if we invest rightly, any wrong move in investment that goes wrong without savings could lead to final downfall of a man.
When investment fails, it is only savings that can be there for one pending the time we pick up, and without investment too, there is no way savings can continue, so I would say that they are both husband and wife, both are needed to make a man be to be completely fulfilled in life. According to what I learnt from my religious leaders, the wisest thing to do when it comes to income is to always have 20% for savings, 40% for personal expenses, while the remaining 40 should be re invested.