Savings is defined as money set aside or not spent from ones personal income. Money saved is most effective in an interest bearing facility such as a commercial bank to keep up with inflation which reduces the value of money over time. Other forms of savings include, the credit union and partner (meeting turn, sou sou, box hand).
Investment is defined as methods of increasing wealth. It differs from savings as it involves risks. Earning from capital invested is usually amuch higher than interest earned on savings. Forms of investments include: unit trust companies, the stock exchange and starting a business.