We turned to Google in search of a succinct paragraph or quote that would give the answer to the question, “what’s the difference between investing and saving?” We didn’t find the results or the simple explanations that we had hoped for, and thus are still on the hunt for an easy-to-use definition which details the differences between the two.

Yes, there is a difference! While both the practices of saving and investing require you to “put money away” and both are important in order to grow your personal wealth, it’s important that you know the difference.

Here’s a definition from Just One Lap: “Saving protects your money while investing grows your money.” This does need more context… you can read the full blog here.

The team from Just One Lap, an independent source of free investment education and knowledge, has partnered with CN&CO partners OUTvest… “to give you all the tools you need to get your house in order to start investing.” On a weekly basis Just One Lap explores areas of financial wellness and provides guidance so that you are better equipped to make financial decisions.

The weekly series, “OUTstanding money”, covers all the basics that you need to know around financial matters so that you can start saving and investing to set, contribute towards and meet your personal wealth goals.

Here are the first two pieces in the series:

OUTstanding money: Am I ready to start investing?

OUTstanding money: Saving and Investing are not the same