Savings, in a basic definition, would be that part of the money incomes that is not spent and that is saved for a future use (it can be in a Bank, a Safe, or any other chosen place).
There are several purposes for saving, some people save to buy a certain product, others to have an Emergency Fund, many others for when they are retired; and a few people (possibly to a lesser extent than the other examples) to create an Investment Capital.
In the case of savings destined to form an Investment Capital, we would be in the presence of a step in the process of personal enrichment. The normal procedure for saving is that once the income (active or passive) is obtained, a part of it (some experts say it would be between 10% and 20%, although any amount is valid) is allocated to savings, until accumulate a sufficient amount of money. That saved money becomes Capital; in Investment Capital.
In order to reach the investment phase, you must have the necessary financial capital, this capital comes from savings (although it may have another origin such as a bank loan, an inheritance, and other concepts). In turn, savings come from income. All this is a financial chain that we must learn to identify and reinforce each link. In the ascent to wealth each step is important: the wise thing is not to underestimate any.
In the crypto ecosystem, the issue of monetary savings is no different, the money saved also allows in this case to invest in the different Crypto Assets (Cryptocurrencies and Tokens). Even the Holding (Hodl) is a type of savings, since they are Crypto values (for example Bitcoin) that are not spent but are saved, they are saved to be used in the future.
Saving money, although it may seem like a basic concept, is a very powerful element, it allows a saver (over time) to become a capitalist investor. It is one more step in the construction of wealth (getting rich is an ascending process). The greater the savings, the greater monetary capital will be created; which will allow access to greater and better investment opportunities, both in the Traditional Financial Market and in the Crypto Market.
If you can save today, you will can invest tomorrow. Every step we take in the right direction, every step we climb, builds our future and our financial freedom.
Posted Using LeoFinance Alpha
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