RAW files are a uncompressed version/format of an image. RAW files give more detail and show the colors more and are just overall better in quality. The downside to shooting in RAW is that the file takes up 2-3 times more storage space than JPEG. Though storage drives are more accessible and cheaper today. Personally I would shoot in RAW because I would take a few good pictures with high quality than having all my pictures lower quality.

JPEG is a lossy compression for digital images. JPEG lets you take more pictures because it does not take up too much storage. Although this storage comes at a price of loss in image quality and details. The JPEG file is also inflexible to work with.