Money Wellness; Investment

When you save, you’re putting money aside so you can use it later. You may not specifically have a place you put your savings, but all choices are not equal. You can put it in a piggy bank or take it to the bank or credit union. You can use a traditional savings account, money market account, or certificate of deposit (CD). Savings accounts are a good option to help you set aside money for short-term goals—within a year or two, or emergencies. Investing on the other hand helps you to achieve long-term financial goals. Investments are not easily converted to cash, and the value can go up or down. Both savings accounts and selected investment accounts are insured against the financial institution going bankrupt—not the underlying assets having no value i.e. A stock market crash, but by different entities. When you first start off investing, you might feel overwhelmed and nervous, but with practice and reading up on terms and asking questions from the pros, you’ll settle into your investment routine.