Well, you save or invest depends on how much money coming in you have. Personally I like to save most of my money and invest a little in bitcoin. I think bitcoin could be a decent investment in the long run so I plan to hold for a couple of years at least but if bitcoin doesn't really go where I want it to or fails then I'll still have my savings.
Making your goals first, will allow you to plan your investments or savings for the future. Depending on your purpose or needs, it will be the decision you'll take. Whenever it is either saving or investing your money, if you take good care of your capital, you'll be able to avoid bankruptcy in the long term.
As of now, there are many options available to multiply your capital over the short or long term. Of course, there will always be a risk, but sometimes it is better to take those risks to achieve massive returns later.