Do you know who runs the world?
Communists, capitalists, or socialists do not run the world, rich people run the world and rich people have built banks to collect money. They tell you to save money. Since the banks are offering some returns on your saving, you are likely to save your money in the bank instead of keeping it at your home. Banks then use your money to build wealth by investing in businesses and industries. When you want money, you will be charged a higher interest rate, however, when you save money, you are given peanuts. Then, they also tell you to buy a house, a car, etc. When you start buying houses and cars, you are buying liabilities and you will.
When you save $1 the banks will lend $10. They tell you to save money because they can use your money to lend 10 times.
So, instead of saving money in banks, you need to invest your money. Instead of saving money in banks, you need to borrow money from banks. Whether the money is the money you have saved or the money you borrowed from banks, you need to use it to buy assets that can build you an income.
Communists, capitalists, or socialists do not run the world, rich people run the world and rich people have built banks to collect money. They tell you to save money. Since the banks are offering some returns on your saving, you are likely to save your money in the bank instead of keeping it at your home. Banks then use your money to build wealth by investing in businesses and industries. When you want money, you will be charged a higher interest rate, however, when you save money, you are given peanuts. Then, they also tell you to buy a house, a car, etc. When you start buying houses and cars, you are buying liabilities and you will.
When you save $1 the banks will lend $10. They tell you to save money because they can use your money to lend 10 times.
So, instead of saving money in banks, you need to invest your money. Instead of saving money in banks, you need to borrow money from banks. Whether the money is the money you have saved or the money you borrowed from banks, you need to use it to buy assets that can build you an income.