Why would it be a good idea to invest your money instead of putting it in a savings account?
Investing money is a financial decision that many Australians have done on a small and large level. There are dozens of free resources and apps on the play store that let you invest in companies and stocks for pennies at a time. When you invest money in something, there is always a risk. You can either increase your total and make a profit or leave with a loss.
Most savings accounts rarely see the growth that is not added by the owners. Bank account interest rates are generally below rates of inflation. When you invest carefully, there is a higher chance you will make money from residential investment properties in metro postcodes.
Experts recommend starting small with applications that allow you to invest change and small amounts. Savings and investments, though, work in similar ways. The more money you add to both savings and investments, the higher your profit will be. However, when you add money to a savings account, there is no risk, while there is always a risk when investing money. If you are interested in investing money, we recommend still opening a separate savings account in case of emergencies.
Saving vs. Investing Conclusion
Overall, investing money is not a bad idea if you do it correctly. However, there is always a risk of losing money. If you have additional savings and want to invest, why not look into a mortgage or personal loan? Mortgage House lenders can offer bundles and specials for multiple loans!