Thinking longer term
Moving home? Starting a business? A bucket-list holiday? How will you get there?
If you're looking to grow some of your money over the longer term, typically five years or more, investing could deliver a better return and it could help protect the value of your cash from the effects of inflation.
Saving
Savings have the advantage of being dependable, predictable and easy to access. If you know you'll need a set amount of money in the next 12 months, for example, then regularly depositing in a savings account may be the best solution. Savings will grow over time as more money is put away and interest accrues on your balance.
Investing
If you are saving for a longer-term goal, typically five years or more, investing your money has the potential to deliver a better return, and help protect your buying power from the effects of inflation. The value of investments can go down as well as up.