I take a keen interest in personal finance and investing, I believe money is the essential tool to making more money and that by saving you’re opening the doors to your own financial freedom.
I personally take a risky approach to my own savings, mostly investing in cryptocurrency, stocks, ETFs, commodities and P2P Lending. I’m not personally a fan of keeping money in cash or bank accounts, as I feel inflation eats into your money too fast, however savings accounts are always better than cash if you’re not comfortable risking your hard earned cash.
I believe the best route to a successful savings strategy is by changing how you view money, how it’s spent, how you can become thrifty and tightening up the purse strings so you keep more of what you earn to yourself, then you can go on to grow it.
Long term outlook
It’s best to step back and look at your long term goals and savings objectives, as oppose to getting hung up on daily and weekly movements. A steady long term plan is the right way forward, sticking with your plan with minor tweaks and holding your nerve if you’re a risky saver.