It is always good to save however, saving alone cannot make you wealthy. The only thing that savings will do for you is give you financial freedom. Becoming wealthy depends on constructive and beneficial things you do with your savings. Below are things you should never do with your savings.
Never loan out your savings
You can loan out money from another source but not from your savings. Loaning out your savings to family or friends is a great risk for your future because you won't be sure whether they will fund you back or not.
Do not spend your savings
It is quite easy to spend your money nowadays especially with the emergence of credit cards which you just swipe. However, you should never spend your savings. The only situation that can force you to spend your savings is in case of an emergency or when you have reached your saving limit.
Never give out your savings
You may be so much kindhearted that you can't hold back that force inside you pushing you to give out. However, this should not apply to your savings. You can give out money from another source but not from your savings. Build your wealth first before thinking of the community.
Never invest in what you have no idea about with your savings
Before investing in something you have to know and understand that thing first. Don't rush to invest in something just because it sounds nice and easy to do. Let your savings grow alone instead of looking for ways you can double or triple them. It might just dawn on you that they are no more.
Don't leave your savings pending for too long at the bank
Leaving your savings for too long at the bank yet there are profitable things you can do with them is just madness. Find important things you can do with the money and gain more profit instead of keeping them at the bank unless your bank has the best profits.