Take care of your money and learn to save. - page 8.

shinratensei_

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Quote from: viananda2525 on May 15, 2024, 10:32:13 AM

Honestly, this is one of the right answers I've been looking for. It's not easy if you continue to consume theories that are sometimes quite floating. I agree more that someone must understand the basics of managing finances so as not to fall into a vicious circle. I don't have many sources of income, but even though I only have one source, I want to set aside some savings to meet urgent needs in the future. However, investment is also good but doesn't seem suitable for some people who have minimal sources of income.

yeah there are many things that need to be taken into account, but if we are focused on building financial wellness then I guess focused on saving and investing is fine.
the other thing will follow I guess and honestly we can be spared of many things by just having the right insurance anyway so that should be taken into account as well.

if im building my wealth i'd be more focused on trying to hustle as much as I can such as increase the source of income so that I can be safe from whatever scenario there is such as massive lay offs and the likes.
personally I just don't feel comfortable having limited source of income so i tried many opportunities available though most of them just outright fail but some succeed too.
if you want to increase your income its all about trying out and see whether things gonna work out or not and if they do, well its already a massive financial advantage for you.

boty

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Quote from: viananda2525 on May 15, 2024, 10:32:13 AM

Quote from: slapper on May 15, 2024, 07:44:29 AM

Investments are fun, but they're not everything, right? I know saving money isn't as exciting as bitcoin. Your savings account is your safety nett, guy. The punches of life hit you. Unexpected costs? Job lost? Wow, savings saved you

In no way am I anti-investing. Good tool, but only one in the toolbox. Right? You wouldn't build a house with a hammer. You must diversify your finances. Don't wager everything. That dollar-cost-averaging thing is sensible and consistent, but not magical. Research and comprehend the dangers. Buying in bits doesn't make you invincible. Yes, invest, have fun, but remember the basics. Budgeting, debt repayment, and savings are the cornerstone, dude. As in martial arts, you must master the basics before throwing exotic kicks. Slow and steady wins the money race

Honestly, this is one of the right answers I've been looking for. It's not easy if you continue to consume theories that are sometimes quite floating. I agree more that someone must understand the basics of managing finances so as not to fall into a vicious circle. I don't have many sources of income, but even though I only have one source, I want to set aside some savings to meet urgent needs in the future. However, investment is also good but doesn't seem suitable for some people who have minimal sources of income.

If you have found a way to manage your finances well, of course this will enable you to set aside some of your income to save it and have savings for urgent needs, of course this is very important, because we will never know. when do we need these needs and it will be very difficult if we don't prepare savings for these needs, yes for some people who have few sources of income of course they will have difficulty thinking about investing because for them they only have income to meet their needs.

viananda2525

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Quote from: slapper on May 15, 2024, 07:44:29 AM

Investments are fun, but they're not everything, right? I know saving money isn't as exciting as bitcoin. Your savings account is your safety nett, guy. The punches of life hit you. Unexpected costs? Job lost? Wow, savings saved you

In no way am I anti-investing. Good tool, but only one in the toolbox. Right? You wouldn't build a house with a hammer. You must diversify your finances. Don't wager everything. That dollar-cost-averaging thing is sensible and consistent, but not magical. Research and comprehend the dangers. Buying in bits doesn't make you invincible. Yes, invest, have fun, but remember the basics. Budgeting, debt repayment, and savings are the cornerstone, dude. As in martial arts, you must master the basics before throwing exotic kicks. Slow and steady wins the money race

Honestly, this is one of the right answers I've been looking for. It's not easy if you continue to consume theories that are sometimes quite floating. I agree more that someone must understand the basics of managing finances so as not to fall into a vicious circle. I don't have many sources of income, but even though I only have one source, I want to set aside some savings to meet urgent needs in the future. However, investment is also good but doesn't seem suitable for some people who have minimal sources of income.

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Quote from: Sexylizzy2813 on May 07, 2024, 03:13:28 PM

What I've come to believe in this life is that the wicked live longer than those who claim to be good, I agree with you to be seen as a wicked and stingy person or answer the name of a wicked person. Is good to give but some people take it for granted even when there's no need to ask they do ask. Normally people who are rich like to give I mean "some" but they turn to be wicked because no one knows what they passed through in life before making it to where they are now, have an uncle (lemme call him that) who has enough to give but even to his wife he act stingy, her people needs help but he prefer to give to a stranger than those ones from the wife's place and I understand him very well because he might have pass through hell before getting all he have so that alone would be difficult to get from him.

We don't know the hell that your uncle went through to survive, so we don't have right to judge him. The reason why good people don't live longer on this earth is that many people will take your kindness for granted, they will treat you badly, and will always want forgiveness. There are some of my friends that I can't give or borrow money again. They came to me about twice and borrowed money from me, but they refused to repay it, which I hate to ask since I believe they have blocked their way to receive another loan from me some days. I know that if I keep giving them, they will continue to take my
kindness for granted.

Quote

Honestly it is very hard to give when you're surrounded by people who look up to you for assistance especially when they're your blood, you can't say no to your siblings not while you're the elderly one. It will be a bigger problem if you don't have to give because it will look like you have failed as the breadwinner.

Of course, you can't turn down your family members, as the head of the house, you're meant to provide for them. But how can we always provide for nonrelatives who consistently look to you for help? These days, I don't know about you, but when someone sees that you have a little money to help you with personal issues, they will assume that you always have money in your bank account. They'll see you as a bad friend if you refuse to give them what they ask for. As the breadwinner, you have to endure all the stress because it is really difficult to say no to your blood.

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Quote from: kawetsriyanto on May 14, 2024, 04:40:06 PM

Quote from: MissNonFall9 on May 14, 2024, 09:52:28 AM

Two valuable things are spending money on time because time produces money ‍and when a person has only one source of income, he will be more worried about his future and more interested in saving. But my point is that saving money for investment becomes essential for people from middle-class households. So they leave the small interests for the big interests. So their investment is initially a waste of time.

TBH, I don't really get your point. The post that you commented, it explained that we don't only focus on saving but we also must have investment. Saving doesn't multiply our money along with time, meanwhile investment is raising the value of the money along with time. That's why investment is also important for our future because we may need more money in the future for various reasons.

There is no harm when people invest their money on trusted things. People can add the number of their investment gradually, even a low and middle class people can have good amount of investment if they do it continuously. For example when you invest in Bitcoin, by using DCA you can grow your investment for the long term holding effectively. Even you only have small or limited funds, it can be good amount of funds if we are disciplined to do DCA. Finally, someday we may have good investment, it is about how we can do it persistent and disciplined! It is untrue if it only wastes time, it deserves to do because it surely results in good profits if we understand how to invest in the right way.

Investments are fun, but they're not everything, right? I know saving money isn't as exciting as bitcoin. Your savings account is your safety nett, guy. The punches of life hit you. Unexpected costs? Job lost? Wow, savings saved you

In no way am I anti-investing. Good tool, but only one in the toolbox. Right? You wouldn't build a house with a hammer. You must diversify your finances. Don't wager everything. That dollar-cost-averaging thing is sensible and consistent, but not magical. Research and comprehend the dangers. Buying in bits doesn't make you invincible. Yes, invest, have fun, but remember the basics. Budgeting, debt repayment, and savings are the cornerstone, dude. As in martial arts, you must master the basics before throwing exotic kicks. Slow and steady wins the money race

Ca4gil

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Quote from: Lidger on May 04, 2024, 03:21:26 PM

People's financial situation is not always the same as we have enough money now but in the future we may not have enough money to spend. Now we have enough money so now I will go out of my way to spend money as I want for no reason then later when I don't have enough to spend but no one else will give me money to spend. It is a fact that as long as you have money and as long as you spend money behind others people will speak for you and people will be with you but if one day you want to walk with them without spending money then you will find no one to walk with. Since money brings people closer and money drives people away, money should be given the most importance.

The amount of money that we are earning now is divided into several parts and the remaining money is the money but if we want we can invest or save so that if there is a financial crisis in the future but this saved money will support us well.

We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

I support every word. When I was younger, I took money very lightly. It came today and it will come tomorrow. But I'd rather save at least a small part of it. I am glad that at least now I have an understanding of financial literacy. I think you should always save money. It's even better when you know how to reinvest these savings.

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Quote from: MissNonFall9 on May 14, 2024, 09:52:28 AM

Two valuable things are spending money on time because time produces money ‍and when a person has only one source of income, he will be more worried about his future and more interested in saving. But my point is that saving money for investment becomes essential for people from middle-class households. So they leave the small interests for the big interests. So their investment is initially a waste of time.

TBH, I don't really get your point. The post that you commented, it explained that we don't only focus on saving but we also must have investment. Saving doesn't multiply our money along with time, meanwhile investment is raising the value of the money along with time. That's why investment is also important for our future because we may need more money in the future for various reasons.

There is no harm when people invest their money on trusted things. People can add the number of their investment gradually, even a low and middle class people can have good amount of investment if they do it continuously. For example when you invest in Bitcoin, by using DCA you can grow your investment for the long term holding effectively. Even you only have small or limited funds, it can be good amount of funds if we are disciplined to do DCA. Finally, someday we may have good investment, it is about how we can do it persistent and disciplined! It is untrue if it only wastes time, it deserves to do because it surely results in good profits if we understand how to invest in the right way.

dezoel

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Quote from: slapper on May 12, 2024, 09:07:56 AM

Investing is popular, and everyone wants Bitcoin. There's no miraculous money machine here. You must first secure your money before multiplying it. Crypto is seductive. It's volatile too. A rollercoaster, not smooth. Not for the faint of heart, this game makes and loses fortunes overnight. You must continually learn, adapt, and take risks. Investing is crucial, but not everything. Never put all your crypto eggs in one basket. That's disastrous. Start with reliable investments. Create a foundation. Only if you can handle the volatility can you dive into crypto

No, it's not like a trend that we can say popular but it's a must and people do it all the time because there are benefits that entails with it. Not all wants BTC because some thinks it's a scam or they never heard of it yet. Before we can multiply our money, the first thing is to have a money that we can use to buy a BTC but securing it is still part of the process, since investing takes time.

Despite BTC being volatile, I think it can still be considered to as reliable because it already existed for more than a decade now. We can start and create a foundation here but before that, we need to study how it works first, practice, and start with small amounts.

MissNonFall9

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Quote from: Accardo on May 11, 2024, 12:04:33 PM

Quote from: MissNonFall9 on May 11, 2024, 07:34:07 AM

Quote from: Bitco55 on May 11, 2024, 05:58:28 AM

Yes, people's financial situations aren't always the same, but the thing about people coming code to you when you have money and leaving you when you don't isn't something I'm making money for. Spending money just cause you want people to be around you is careless and out of desperate desires.

Personally, I'm more concerned about the "lonely at the top" phenomenon. Because people don't really care about anyone anymore, just themselves and so should you. Take care of your money, and yourself, invest in yourself, and save more, and the future will take care of itself if you do the right things now.

Although money is not the ultimate everything to people, money is more than many things to people. No one can deny the need for money in this world. But in some cases people create controversy about money like money can't make people happy can't restore lost health etc. But if you think very deeply, the meaning of money is found. For example, the financial status of people is not always the same. When a person is in danger or in financial crisis, the person or relatives can be known well. The only reason is money. Because if there is no money, even close relatives keep a distance. So we all should take care of our money saving and investing.

Time is more important than money. It's better to spend money to save time than to waste time saving money. Investment also requires time to mature. Making more money is better than saving more money. Because being able to secure a source of income that'll last the test of time, shows a good usage of time. When we utilize our time very well going out of money wouldn't be a trouble anymore. Having a single source of income is what makes people worried about saving money. Look at the inflation, the amount of saved money in your bank depreciates. It's better to follow the trend, earn bigger to battle the increase of product prices in the market. However, it's always nice to have some funds in our possessions not just going completely out of money. At least while saving, invest on a profitable business for comfortability.

Two valuable things are spending money on time because time produces money ‍and when a person has only one source of income, he will be more worried about his future and more interested in saving. But my point is that saving money for investment becomes essential for people from middle-class households. So they leave the small interests for the big interests. So their investment is initially a waste of time.

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Quote from: YUriy1991 on May 13, 2024, 03:25:22 AM

Of course, this will have an impact on long-term financial well-being, but I think this condition is also certainly not all able to do it, especially now. If these two items have been able to be held, I think the family has entered the category of established family class because in addition to their needs being met, they are also able to save funds and easily manage their investments that have been carried out without pressure on primary needs constrained. This is the current reality.

I myself also experienced the situation as you described above. If we look at the current condition, whether you have a monthly salary or not, even though you already get a regular income of $ 500 per month, if averaged antiny on the trip, for example, in 20 days the department is already ress and it is no longer enough, automatically have to find a loan to a friend to meet the needs of my family a month before payday again at the beginning of next month. Indeed, this pattern must be avoided so as not to continue to increase the value of their debt at the end of the month and have to pay it off. Yes, just live it.

doomloop

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Quote from: ChiBitCTy on May 10, 2024, 03:13:39 PM

As a financial guy I tell all my clients that you should try and save at least 15-20% of your earned income towards retirement. If you can save more, than certainly do so. Run a monthly budget AT LEAST once a year, making sure you're saving as much as you potentially could be. Then make sure to do everything you can to be saving money (cut coupons, sign up for rewards apps, and things of this nature..it can go a LONG way).

If only everyone could do that. The amount of money one can save depends on how much one earns minus how much one spends each month, and based on the economic conditions all over the world nowadays, one can barely be able to have a lot of money left by the end of the month even if they have made a budget and are spending money accordingly. Inflation keeps increasing over time and most governments seem to not care about it at all.

15-20% is a lot, I would say one would do great if they can manage to save at least 8-10% of their earnings each month for their future because if they have some years to go for them to retire, they can save a good amount by that time which will surely help them with the time after their retirement.

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Quote from: OrangeII on May 13, 2024, 02:54:56 AM

Quote from: Juse14 on May 12, 2024, 03:24:52 PM

Money, it's easier to spend than to earn it. And if we are not good at managing expenses, let alone having enough money to save, the feeling of not being able to meet our needs for the next month becomes quite difficult.

Therefore, it is quite important for us to be able to manage our income and expenses as well as possible. So that our needs are still met, and we have some money to save. However, for a better future, we not only need the money we save in the form of savings, but we also need to have investments. because we cannot continue to work and make money, there are times when we are sick or approaching old age, so we may not be able to return to work, and this is where investment is important. Because through the investments we have, we will still be able to make money even though we have retired from work.

I think everyone has been taught when they were little to save, and buy necessary things. However, as time went by, this was put aside. It's very true that money is easier to spend. Without good management, the money will run out faster. Many people think that they can make money continuously so they forget to save or invest. They will really feel this when they can't work, and they don't have savings. However, the way to avoid this is to try to invest, and try to save little by little.

There is no doubt its same happening around me as I have living in area where peoples never care about this and after sometimes they are having nothing to do about this with many times I personally interacted with them about this, but usually they are never caring about this which is a more problem for them, we need to be careful about this all if we need to be had better life and also some freedom about our finances which are going to be difficult day by day.
If peoples are not having saving habit this is surely going to be had huge impact on their lives and things are going to be terrible for many with things are never been going to stay at the same level.

Fortify

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Quote from: Lidger on May 04, 2024, 03:21:26 PM

People's financial situation is not always the same as we have enough money now but in the future we may not have enough money to spend. Now we have enough money so now I will go out of my way to spend money as I want for no reason then later when I don't have enough to spend but no one else will give me money to spend. It is a fact that as long as you have money and as long as you spend money behind others people will speak for you and people will be with you but if one day you want to walk with them without spending money then you will find no one to walk with. Since money brings people closer and money drives people away, money should be given the most importance.

The amount of money that we are earning now is divided into several parts and the remaining money is the money but if we want we can invest or save so that if there is a financial crisis in the future but this saved money will support us well.

We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

If you have begun saving, then you are on the right path. Many people will spend their early years in debt and some manage to rack up rather large amounts at that. For those people they have to work up from a negative position, just to the point of break even (zero) and by that time hopefully they have readjusted their whole mentality to spending. The wise people in life choose to keep their debts at an absolute minimum, with the only big one worth taking out being a mortgage or sometimes student loans. Once you have got a sizable buffer, or at least a couple months worth of salary minimum, stored up then you can begin to look into the world of investing and it's probably best to start putting money into index funds as they have traditionally given great market matching returns in the last few decades.

AicecreaME

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You should only save a little amount of your extra money, the majority should be in an investment. Saving the majority of your extra money after paying bills won't help you that much in the future, because it doesn't make any profits, it's just there sleeping and you're wasting its potential to give you more money in the long run.

Investing it comes with different risks so you have to plan every little thing to avoid bankruptcy or losing most of your funds in the process. My point is that, save if you want to play it safe, and invest it if you're a risk taker with plans.

tottong

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Quote from: Lidger on May 04, 2024, 03:21:26 PM

The amount of money that we are earning now is divided into several parts and the remaining money is the money but if we want we can invest or save so that if there is a financial crisis in the future but this saved money will support us well.

It is called planning to live life in the future because we never know when inflation will occur, so trying to solve problems not when they occur is a smart move.
If we have a stable income then it is natural for us to make several options, whether trying to invest, save or build a small business to get much bigger profits.

Quote

We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

Money will never be productive if it is left to sit and money will never be able to generate profits if it is only saved.
A person must have the ability to invest or build a business because these two methods are considered much easier if someone really wants to learn how to run it more seriously. Money will be much more productive when we have the ability to take it to the right place and these two things are efforts to keep money more productive.

enwi

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Quote from: rhodelmabanal on May 13, 2024, 08:18:14 AM

Quote from: Lidger on May 04, 2024, 03:21:26 PM

People's financial situation is not always the same as we have enough money now but in the future we may not have enough money to spend. Now we have enough money so now I will go out of my way to spend money as I want for no reason then later when I don't have enough to spend but no one else will give me money to spend. It is a fact that as long as you have money and as long as you spend money behind others people will speak for you and people will be with you but if one day you want to walk with them without spending money then you will find no one to walk with. Since money brings people closer and money drives people away, money should be given the most importance.

The amount of money that we are earning now is divided into several parts and the remaining money is the money but if we want we can invest or save so that if there is a financial crisis in the future but this saved money will support us well.

We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

Saving money is very important, because we don't know when there is an accident or even calamity, and if we have savings then we can easy pay everything without getting a loan it can save us from harm or from the possible interest of the loan that we can get in case that we don't have a savings. Saving is very hard specially to those who live in a normal life because the salary is enough only to our daily needs but if we have a plan to save we can do it just like what others do.

Exactly, when we gradually buy bitcoin or cryptocurrencies that have good potential such as BNB, Ethereum and Solana then this can be used as savings. Even more profitable, if we save in Cryptocurrency, we can get additional profits when the selling price rises. Imagine if you bought Bitcoin now and then kept it for the next 10 to 20 years. Make sure you print access to the wallet you have and save it for letters addressed to our family, so that when a family disaster occurs we can access the wallet we have easily.

rhodelmabanal

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Quote from: Lidger on May 04, 2024, 03:21:26 PM

People's financial situation is not always the same as we have enough money now but in the future we may not have enough money to spend. Now we have enough money so now I will go out of my way to spend money as I want for no reason then later when I don't have enough to spend but no one else will give me money to spend. It is a fact that as long as you have money and as long as you spend money behind others people will speak for you and people will be with you but if one day you want to walk with them without spending money then you will find no one to walk with. Since money brings people closer and money drives people away, money should be given the most importance.

The amount of money that we are earning now is divided into several parts and the remaining money is the money but if we want we can invest or save so that if there is a financial crisis in the future but this saved money will support us well.

We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

Saving money is very important, because we don't know when there is an accident or even calamity, and if we have savings then we can easy pay everything without getting a loan it can save us from harm or from the possible interest of the loan that we can get in case that we don't have a savings. Saving is very hard specially to those who live in a normal life because the salary is enough only to our daily needs but if we have a plan to save we can do it just like what others do.

Bd officer

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Quote from: Lidger on May 04, 2024, 03:21:26 PM

People's financial situation is not always the same as we have enough money now but in the future we may not have enough money to spend. Now we have enough money so now I will go out of my way to spend money as I want for no reason then later when I don't have enough to spend but no one else will give me money to spend. It is a fact that as long as you have money and as long as you spend money behind others people will speak for you and people will be with you but if one day you want to walk with them without spending money then you will find no one to walk with. Since money brings people closer and money drives people away, money should be given the most importance.

The amount of money that we are earning now is divided into several parts and the remaining money is the money but if we want we can invest or save so that if there is a financial crisis in the future but this saved money will support us well.

We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

Yes savings is important in every one of our lives. Because you can't work or do business forever, you won't be able to work or do business when you get old at some point. So if you earn money in your youth and save it, you will not have to face financial problems in your old age. You have to think about the future, none of us know the future. Even if you fall ill and need money for your treatment, if you have savings or investments, you will not face financial problems.

It is true that people will run after whoever has the money these days. But if you just save money, your money will lose value due to inflation, so it is better to invest in some other sector. You don't invest the entire amount. You keep funds for emergencies.

YUriy1991

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Quote from: wmaurik on May 12, 2024, 12:47:05 PM

Currently, with the sometimes uncertain conditions in life, it would be better to have savings and investments because these two things should be considered important by everyone without exception. Because in reality, now everyone can see that people who only have savings without any investment that can help them in the future, these people will be more easily approached by difficulties when their savings run out. Likewise, people who only have investments, but no savings, will also find it difficult to maintain their investments for the long term, so both must be present at this time for the sake of balance in avoiding difficulties in our respective lives.

Of course, this will have an impact on long-term financial well-being, but I think this condition is also certainly not all able to do it, especially now. If these two items have been able to be held, I think the family has entered the category of established family class because in addition to their needs being met, they are also able to save funds and easily manage their investments that have been carried out without pressure on primary needs constrained. This is the current reality.

OrangeII

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Quote from: Juse14 on May 12, 2024, 03:24:52 PM

Money, it's easier to spend than to earn it. And if we are not good at managing expenses, let alone having enough money to save, the feeling of not being able to meet our needs for the next month becomes quite difficult.

Therefore, it is quite important for us to be able to manage our income and expenses as well as possible. So that our needs are still met, and we have some money to save. However, for a better future, we not only need the money we save in the form of savings, but we also need to have investments. because we cannot continue to work and make money, there are times when we are sick or approaching old age, so we may not be able to return to work, and this is where investment is important. Because through the investments we have, we will still be able to make money even though we have retired from work.

I think everyone has been taught when they were little to save, and buy necessary things. However, as time went by, this was put aside. It's very true that money is easier to spend. Without good management, the money will run out faster. Many people think that they can make money continuously so they forget to save or invest. They will really feel this when they can't work, and they don't have savings. However, the way to avoid this is to try to invest, and try to save little by little.

Topic: Take care of your money and learn to save. - page 8. (Read 1792 times)