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.
FOMO is for day traders and those who want urgent profit. FOMO shouldn't be considered as an investment.
Saving is good but to not devalue it worth due to inflation, I do prefer saving with fix deposit a reasonable percent of my money.
Every form of savings should add value to it what was saved, people should reduce stockpiling money in the banks while banks lend your money, or use it to trade.
They make a profit from your savings without interest, rather they still charge you for Saving( Using) your money. We should do anything legally possible in ensuring that our savings add value rather than devalue.