The terms "
savings" and "
investment" are frequently used interchangeably. In personal finance, they differ in their implications and meanings. The amount of money that a person sets away from their income for future usage is referred to as
savings. The deployment of resources, on the other hand, to produce revenue or create wealth is referred to as
investing. We shall examine the definitions and differences between savings and investing in this article.
Savings: Purpose And Relevance
Savings are the funds that a person sets aside from their income or earnings for unforeseen costs or crises. Cash, bank accounts, or any other assets that can be sold to cove…
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