Difference between Investment and Savings
English:- Savings and investment are two important concepts in personal finance that are often confused with each other. However, they have different meanings and purposes. Here is a brief explanation of the difference between savings and investment: Savings means storing your money safely so that it is available when you need it. It has a low risk of losing value, but also a low return. Savings are usually made for short-term goals or emergencies, such as buying a new phone, paying for a medical bill, or having a rainy day fund. Savings can be kept in cash, bank accounts, or other low-risk instruments. For example, you can save ₹100 every month in a savings account that pays 5-6% interest per year. Investment means putting your money into something that can generate higher returns in the future, but also involves more risk. Investment is usually done for long-term goals or wealth creation, such as saving for retirement, buying a house, or starting a business. Investments can be made i...