Case study scenario help- save or invest

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shqipe04
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#1
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Jailah is a single mother with two children privately renting a two bedroom house. She works as mental health nurse three days a week. She’s on a tight budget. Now that Jailah has some extra income she started saving up for a car and the target is to buy a car without 2 years . She is a low risk saver.
Is it better to save money or invest ?
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tinyperson
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Jailah needs to talk to a financial advisor. She also must budget wisely for the future and do her online research on finding a new car properly too. Her extra income could be used to pay for the chosen car in question here and she also could try to see if the local bank could help her out.
She could even track her financial situation using a purpose built app or website too. If she can get more extra financial help for her kids, then that would hopefully make a difference overall too. Jailah could even plan and hold a funky fundraising event at work in order to pay for her new fancy car etc. Do not invest. Rather save.
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shqipe04
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#3
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(Original post by tinyperson)
Jailah needs to talk to a financial advisor. She also must budget wisely for the future and do her online research on finding a new car properly too. Her extra income could be used to pay for the chosen car in question here and she also could try to see if the local bank could help her out.
She could even track her financial situation using a purpose built app or website too. If she can get more extra financial help for her kids, then that would hopefully make a difference overall too. Jailah could even plan and hold a funky fundraising event at work in order to pay for her new fancy car etc. Do not invest. Rather save.
That’s what I was thinking too . With a short term investment the issue is that you might lose money or get back less than you originally put in . To give the best chance of getting that greater return you hope for you should hold investments for the longer term. Saving up is the best option
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Vixen47
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#4
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Save everything, only invest when you are comfortable to do so, and when you are invest a maximum of 10% of your entire savings. Do not invest more than that unless the excess money you're investing is money that you can piss on without feeling bad about losing it.
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