It is still savings, and it still is making investments possible (and sound) however in a slightly more roundabout way. The stuff you do not consume remains available for investors as a fund from each to "draw" resources for their investment projects.

And the way those resources are available to them is through lower prices of goods. Since you are not spending, your (honestly hoarded) money is not entering the marketplace and thus lowers the price of your those goods you choose not to consume. As compared with the alternative of you spending all/most of your money.

Let me put it that way. If you are investing (in a traditional way) you are putting the resources you did not consume at the disposal of one investor. If you are just saving, you are putting the resources you did not consume at the disposal of all investors as a whole.

What should you do? Whatever you want, dude.