Michael Welter

If not sure whether you should save or invest, the answer is probably both. It all depends on goals and your financial situation. This guide will help to plan out your finances for short term savings and long term investment. - Difference between saving and investing : Saving - putting money aside - a lump sum. Usually save for a particular goal, like for a holiday, deposit on               a house, or emergencies that might crop up. Often saving means putting your money into cash products,          like bank and building society deposit accounts. Investing - taking some of your money and with the aim of making it grow, by buying things that                 might      increase in value, like stocks, property or shares in a fund. - Who should save? Everyone who could...

Here are great tip that will help you choose the best investment tailor-made for your needs: > Review your needs and goals – It is well worth taking the time to think about what you want from your investments. Your needs and goals and your appetite for risk is a good start, so start by filling in a money fact find. > Consider how long you can invest – Consider time frame as to when your funds are needed.                 - If you’re saving for a solid investment in the next couple of years, consider investing in shares or funds is not feasible. Stick to cash savings accounts like Cash ISAs.                 - If saving for pension/retirement funds, ignore short-term investment and focus on the long-term, it will       tend to provide a better chance of beating inflation and reaching your pensio...