Quote from: demonica on February 18, 2024, 12:59:27 PM

Quote from: redsun114 on February 17, 2024, 08:14:24 PM

Quote from: Pi-network314159 on February 11, 2024, 08:51:00 AM

Why we should patronize investment over savings is that investmet provides more profit than savings. Let's take for example you save money in bank for 3 years, instead of making profit your money would be gradually deducted bit by bit for maintenance, transfer or SMS fee. But in investment like Bitcoin, volatility in Bitcoin will make it to increase, except the volatility is a negative volatile instead of positive volatility.

Savings are necessary, there can be emergencies and times when you might need funds and you can't use funds that you have invested in such situations. Will you sell your Bitcoins even if they are at a loss if you face an emergency because you don't have funds for the emergency? You can't because that means you are wasting your money and instead of getting profit from your investment, you are getting loss and no one would want that.

So it's essential to have savings, you don't need to keep it in an account where you will be charged fees and stuff, create a savings account and keep your savings in it so that you can use them whenever you need to. If you can afford, have both, savings and investment funds, so that you don't need to use your savings for investment purposes.

I agree with this. Investment will definitely bring us more money since we can earn profit from it compared to saving where we just keep our money in banks and won't bring us profit. But both investing and saving are important. Since like what you've said, when there's an emergency it would be difficult for us to use our investment especially if it's doing well. Also on the contrary, if your investment didn't do well, we wouldn't be able to get something for emergency purposes. So aside from focusing on investments, we should also have our savings on the side cause we don't know what will happen tomorrow. Investment will help us earn money and saving will make it easy for us to find money whenever we need it.

Investments are made if we already have savings, at least we have savings equivalent to one year's salary, so that if something unexpected happens then this is not a problem. After that, if we already have savings, we can invest according to the field we control, so that if something bad happens it won't disrupt our family's economy. Often people force themselves to invest, so that in the middle of the road investment must be taken to meet their needs