Saving and investing is very important and it’s important to do both if you can. Before I begin this post I just want to say that I am not an investing expert and I am not giving any advice on money or what to do. This is what I do and this works for me.
Growing up we were always taught to save money whenever we can. We all heard that money don’t grow on tress and our parents always told us to save money. Things happen in life like your car breaking down or something comes up where you need money. Just in case something happens, you will have the money to fix it.
For me, I like invest more than I save money and why? Well you can save in to wealth plus I need my money working for me. I think if we started investing when we were younger, we would have more passive income today. And the passive income that I am talking is divided investing. Buying stocks that pays you a dividend is passive income and we can start NOW. This is why I started my son a dividend portfolio and right now at the of me writing this post, he is 2 years old. All I have to do is invest a some sum of money like 50 bucks or so and buy dividend paying stocks in his child account. When he gets a dividend payment, I have the drip program turned on so every dividend gets reinvest back into the stock making him more money every month.
So yes we need to save money just incase something happens and we have the money to fix it but we also need to invest some money as well so we can have some other income coming in. You don’t have to invest in the stock market but we all need to invest into something.
