Saving and Investment

4.7  Saving and Investment

Needs and Wants

  • Use money for needs first.
  • We must meet our needs so that we can continue with our lives better.
  • Wants improve the quality and comfort of our lives.
Example of Needs



Place to live

Example of Wants





Saving and Investment

Savings are usually earmarked for short-term goals, while investments are more appropriate for long-term goals such as retirement.

  • We need to keep money in any bank of our choice. The money is useful for further education later. Our lives will be more comfortable in the future.
  • We are encouraged to invest money by donating to people who are more in need such as flood victims. This can ease their burden.