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 agree! Don't save just to save. Save to invest! If you want your money to grow, saving it is not the right thing, investing is. Savings are are not exempted from inflation. In our country, inflation is averaging at 5% per annum while interests from bank savings are just 0.25%. If you will just save your money, it will not beat inflation. I have nothing against banks but if you're looking for a good way to grow your money, it is not advisable. Save your money in the banks only for the purpose of emergency funds or immediate funds. If your looking for capital growth, invest your money.