The module has been insightful, highlighting the difference between savings and investments. Its an eye opening for me to differentiate money that can clear my surprise bills and that which can be my cushion in future such as retirement package, university fees for my unborn kids and so on.
Full Name: Chikondi Zulu Country: Zambia Cohort:35 Topic: Savings and investment
Saving is preparing for unknown circumstances or reaching a certain goal while investing grows income over time. Don't invest your savings if you intend to use the money in the next year. Savings act as a cushion while investing beats inflation. Savings is Short term and investing is lon term.
Full Name:Carol Zulu Country: Zambia Cohort:29 Topic: Savings and investment. What I understood in this module is that,saving is keeping money safe with low risk and low return for short term needs,while investing is putting money to work with higher risk but higher possible return for long term growth.
Full name: Virginia Kurambwi Country: Zimbabwe Cohort 35 Savings and investment are both important for financial success but they serve different purposes. Savings provide financial security and liquidity by keeping money available for emergencies and short-term needs, while investments focus on growing wealth over the long term. Savings generally involve lower risk and lower returns, whereas investments carry higher risks but offer greater potential returns. Therefore, a person should save for security and invest for long-term financial growth.
The module has been insightful, highlighting the difference between savings and investments. Its an eye opening for me to differentiate money that can clear my surprise bills and that which can be my cushion in future such as retirement package, university fees for my unborn kids and so on.
ReplyDeleteName: sserubira Elizmas
ReplyDeleteCountry: Uganda
Cohort:9
Lessons: I have learnt that debt is weight which I have to pay off to fly
Full Name: Chikondi Zulu
ReplyDeleteCountry: Zambia
Cohort:35
Topic: Savings and investment
Saving is preparing for unknown circumstances or reaching a certain goal while investing grows income over time. Don't invest your savings if you intend to use the money in the next year. Savings act as a cushion while investing beats inflation. Savings is Short term and investing is lon term.
Full Name:Carol Zulu
ReplyDeleteCountry: Zambia
Cohort:29
Topic: Savings and investment.
What I understood in this module is that,saving is keeping money safe with low risk and low return for short term needs,while investing is putting money to work with higher risk but higher possible return for long term growth.
Full name: Virginia Kurambwi
ReplyDeleteCountry: Zimbabwe
Cohort 35
Savings and investment are both important for financial success but they serve different purposes. Savings provide financial security and liquidity by keeping money available for emergencies and short-term needs, while investments focus on growing wealth over the long term. Savings generally involve lower risk and lower returns, whereas investments carry higher risks but offer greater potential returns. Therefore, a person should save for security and invest for long-term financial growth.