Story of a Mother & Son:
Shreya’s Son recently turned 12 years old. So on his birthday, Shreya’s son received Rs.500 from his grandmother as his birthday gift. Shreya’s son initially thought to spend Rs.500 buying candies and toys, But Shreya convinced him to save money in his piggy bank. Shreya’s son started saving money in his piggy bank. A few months later, his piggy bank was over-loaded with coins and notes. Both son and mother counted them and were delighted that the total was beyond their expectations. Now, Shreya’s son again plans to buy chocolates & candies from the store. As a wise mother, Shreya advises his son to deposit his money in the bank. With the help of Shreya, His son deposits his piggy bank savings in the bank.
Years rolled by, and Shreya is pleased about his son’s savings habits. This is not only the story of Shreya & her son. This is the typical story of every Indian home. We Indians are good at savings. Despite great saving habits, we are still considered as a poor country.
The simple reason is that we know how to save money, but we lag in knowing how to convert our savings to significant investments.
Why is Investing far better than saving?
First, we will understand what is Investing?
Investing is all about putting savings(i.e., money) in financial Schemes, Commercial Properties, Gold, Shares that become worth more than their initial worth.
If we consider the above-mentioned Son & Mother case study, Shreya’s mother Incubated savings habits in her son in the early stages of his life, which is great. But is that enough?
The answer is “NO.” Saving in piggy banks or fixed deposits in banks is a wise habit, but it doesn’t help grow the money with time. Savings results in earning low potential, but smart investing of savings in Schemes, Commercial Properties, Gold, Shares results in high return.
Right Education about investing in the right places at the right time is very important for a secure future.
“Saving doesn’t help in growing the money, but investing saved money in the right places grows money and also helps in achieving financial goals.”
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