A person who is not wealthy sets a goal to “save for something,” such as a new iPhone, a new TV, a car, or something else. And when the desired amount is finally saved, that is also the moment when the money immediately leaves its owner.
This form of saving provides no benefit other than the short-lived joy of buying the desired item.
How wealthy people save money.
The difference in how wealthy people save money lies in their ability to manage it. They save the same money, but make it generate new money instead of simply spending it. And they use that new money as working capital. This may be investments, deposits, lending at interest, business ….
The main goal is not to lose money, to use money to buy assets, and to make those assets work to generate new sources of money.