When you have a surplus after satisfying your needs, you will want to put away some for the future. You can do this either by saving in a financial institution or by investing.

Saving

Saving is when you do not use up all of your income but keep some in an account for the future. While persons may save money in their homes or in a “box” it is safer to keep your savings in a financial institution.  

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Investing

Investing refers to the purchase of a financial product or item of value with an expectation of favorable future returns. In general terms, investing means committing money in order to make a financial gain.

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