Do you save and invest or both?

[Henrywrites]

Savings is the foundation of most investments. You will need to save some funds before you can even start to think of investing. I have seen some people that believe that investing and saving at the same thing is the best approach to building wealth. Which one do you think is better?

 

[Black Angel]

Yes doing both is important, which is why we are saving our money and investing in our house.. it has already built up a ton of equity and we haven't finished unpacking our stuff yet.

The house is in good shape and needs some work, but we are fortunate enough to be able to do what we want without breaking the bank since we are also pretty frugal and know how to get the best deal too.

 

[Dee]

Right now I'm only saving, but I would like to invest eventually. I'm just concerned with how to do that and where to get started.

 

[DrLeftover]

We pay Illinois' eye-watering taxes, we pay the electric bill, we put gas in the car, and food on the table, and buy my wife's prescriptions....

Save and Invest?

 

[Mendalla]

Both have their place. We focus on investing right now, with some savings for backup and emergencies. And even those are usually in something like a money market account rather than under the mattress or in a bank savings account so we can get some income on them.