What is the difference between goal-based investing and saving?

With saving your amount is fixed and you receive interest, which often fails to keep up with inflation. With goal-based investing your money is invested, with a chance of higher returns but also of loss.

The choice depends mainly on your horizon. For goals within a year, saving is usually wiser. From a few years out, investing generally gives a better chance of a stronger result, especially as Vive matches risk to your end date automatically. Read saving or investing.