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Why investing money is better than saving it

Iboro

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Jan 25, 2023
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I hear people talk about the need to have savings. I beg to differ. Savings just keeps your money locked somewhere whereas when you invest your money, you put the money to work and it keeps reproducing.
 
In my home country, you get about 12 percent interest if you keep your funds locked in a fixed deposit account for at least one year. If you can get this kind of return, even savings can be good.
 
In my country, you get 3% as interest for keeping your money in a fixed deposit for one year. That's obviously a waste of time.
 
If we like to multiply our earnings then we should start investing it because alone saving won't help us and we can only earn 3-4% bank interest.
 

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