Use your savings to make money

[Carpon]

It is literally unthoughtful for someone to save, save and keep saving and accumulating money in some bag, bank or wallet probably with no reason (I'm not trying to say you must have big plans before you save). Instead of doing that there are ways that your savings will be productive and help you even make more money.

When you save to some good amount, you can decide to buy shares with it or invest in some business or company with it. This will be bringing you returns and you are at liberty to withdraw your share capital at any time you want or need it.

Moreso, you can become a lender and give out loans which will be paid with profit. You must not be the one running all this but you can assign the job to a trusted person and your savings will be bringing you returns rather than allowing them stay in your account lifelessly.

 

[Yusra3]

You know what's the best way to make money? By saving and investing.

Saving money is one of the best ways to grow your wealth, and there are many different ways you can do it. If you have a 401k or other retirement plan at work, that's great! But if not, no problem. it's still possible to save up and invest in the stock market while also making sure you're paying attention to your spending and budgeting.

Here are some tips:

1. Start by asking yourself what you need right now, then ask yourself how much of it is necessary (not just helpful). For example, if you need food for tomorrow but don't have enough money in the bank for groceries this week, put off buying groceries until next week and save up instead.

2. If something seems like it might be urgent but isn't really important (like getting a new shirt), put it on hold until later in the month when you have more time or money available!

 

[moonchild]

Savings won't make you rich, likewise hard work, people get this all twisted all the time, that's why I go hard on post here that glorify savings, If you got insurance that covers your health and properties you can go ahead and take business risks and win.

I don't think being frugal and saving on that coffee or refusing to buy that nice shirt is in anyway going to help you to get rich and not worry about money, savings to me is just a worrying about nothing, but if you're saving to invest in a business or starting something new then go ahead and do that.

Even investing in stock market won't make you rich because the returns is just 10 percent annually, so it'll be hard to scale, less you're putting in a lot of money say millions of dollars, it's definitely going to be a tough nut to crack.

 

[Rubz]

These are good ways to earn or make money from one's savings. One should be careful when trying to make money from one's savings though, and try to avoid investing money in ponzi schedule or unknown platforms so that one won't end up losing one's savings. I really like the idea of earning money from one's savings by lending it to people and attaching and interest rate to it. That is a very fastvand less stressful way to earn from one's savings. One have to be careful though and always make sure the person one is lending the money to signs a legal agreement and brings a collateral to avoid him or her running away with one's money.