In this article, we are going to discuss about the eighth wonder of the world ie. Power of Compounding.Compounding is a long-term investment strategy.
You should always remember that the cost of delay in investing is enormous. Even one year makes a huge difference. "Now" is the best time to begin investing for your long-term goals.
Let us compare the terms with the help of practical scenarios- Saving vs Investing Illustration, in this article. Go for saving instruments for short-term goals and use investing instruments for achieving long-term goals.
Savings help in short-term financial goals, while Investments help in achieving long-term goals.Thus they play different roles in financial strategy making.
This article will answer your biggest question of Why Should I Have A Financial Plan and will explain the wide importance of finanacial planning.