Take care of your money and learn to save. - page 7.

Lanatsa

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Quote from: Jody.Drummer on May 18, 2024, 12:41:19 PM

Quote from: arufox on May 17, 2024, 12:57:35 PM

Saving is something that is very necessary for future needs. I myself have been doing it for several years and until now. As much as possible, I not only save but also invest. I usually set aside 10% of my salary to invest in Bitcoin so that at retirement age I don't run out of money. The money will continue to flow even if I don't work because I already have savings and income from investments.

That's right, indeed for a good future of course saving is one of the things that must be considered, of course saving is something that must be done, even I think most parents will definitely educate their children to save. Preparing for the future depends on ourselves, if indeed we can do good things then the future can be good. Because I also think saving helps us when we are in an urgent situation, such as illness or disaster, of course when we are in that position there will be costs that may be a lot to be incurred and that can be handled with the money saved.

It is true that investment is good, especially if we can understand investment well in terms of knowledge. With you doing that setting aside 10% of the salary you get is good, because you can do both and of course that's good, I think you have more than enough income so you can do both. But is it done consistently?

Saving at the same time you would really be making some investments as well because we do know that cash or fiat is something that been affected with inflation on which year by year which your purchasing power would really be that be mainly affected. On the moment that you do keep on saving up and doesnt have any other established business or investment then you would be having a hard time on trying out to sustain at least. Well, it would really be just that depending on someones preference and thinking on how they would really be handling up themselves in speaking about future things or goals and point of view.
Some people doesnt really that think about on saving on the moment that they are on a good condition or on the moment that they do know that they are making money or earning sufficient.
This is why on the moment that they would be experiencing some hardship when it comes to finances then this is the moment that they would really be considering on saving up but well its already late
but still not that very too late.

Jody.Drummer

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Quote from: arufox on May 17, 2024, 12:57:35 PM

Saving is something that is very necessary for future needs. I myself have been doing it for several years and until now. As much as possible, I not only save but also invest. I usually set aside 10% of my salary to invest in Bitcoin so that at retirement age I don't run out of money. The money will continue to flow even if I don't work because I already have savings and income from investments.

That's right, indeed for a good future of course saving is one of the things that must be considered, of course saving is something that must be done, even I think most parents will definitely educate their children to save. Preparing for the future depends on ourselves, if indeed we can do good things then the future can be good. Because I also think saving helps us when we are in an urgent situation, such as illness or disaster, of course when we are in that position there will be costs that may be a lot to be incurred and that can be handled with the money saved.

It is true that investment is good, especially if we can understand investment well in terms of knowledge. With you doing that setting aside 10% of the salary you get is good, because you can do both and of course that's good, I think you have more than enough income so you can do both. But is it done consistently?

arufox

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Saving is something that is very necessary for future needs. I myself have been doing it for several years and until now. As much as possible, I not only save but also invest. I usually set aside 10% of my salary to invest in Bitcoin so that at retirement age I don't run out of money. The money will continue to flow even if I don't work because I already have savings and income from investments.

Lantind

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Quote from: erep on May 17, 2024, 11:26:45 AM

The main obligation must be to meet routine monthly expenses for basic needs, because managing savings is not an obligation for everyone for different economic classes. They may be able to set aside part of their income for savings even though the allocation of savings is not routine from monthly income, but those with low incomes must get out of the safe zone to increase higher income because the need for funds to buy basic necessities is increasingly expensive.

Relative poverty data from various countries is getting worse due to the impact of the global economy experiencing inflation which influences various aspects of price and service increases.

To be able to have savings, of course we have to be able to manage our finances well and we have to be able to meet our main needs and set aside some of the income we have so that we can save and it is difficult for those with low incomes to be able to manage their finances well and look for other sources of income. Of course it is very important if we still have low incomes, as you said, it is absolutely true that the price of basic needs continues to increase and it is difficult for those of us with low incomes to fulfill them and one solution is just to have several sources of income to be able to meet the basic needs we need.

erep

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Quote from: Strongkored on May 17, 2024, 02:56:23 AM

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.

It is indeed a big challenge for people who have limited income to invest, because it is impossible for people who cannot fully fulfill all their main needs to set aside income to start investing, so the main key to being able to start investing is when their income has met all their main needs and there is still some remaining percent that we can ultimately allocate to investing, that's why lower middle class people will have difficulty improving their lives, unless they can get out of low income and start managing their finances well so that their lives become better.

The main obligation must be to meet routine monthly expenses for basic needs, because managing savings is not an obligation for everyone for different economic classes. They may be able to set aside part of their income for savings even though the allocation of savings is not routine from monthly income, but those with low incomes must get out of the safe zone to increase higher income because the need for funds to buy basic necessities is increasingly expensive.

Relative poverty data from various countries is getting worse due to the impact of the global economy experiencing inflation which influences various aspects of price and service increases.

Strongkored

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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.

It is indeed a big challenge for people who have limited income to invest, because it is impossible for people who cannot fully fulfill all their main needs to set aside income to start investing, so the main key to being able to start investing is when their income has met all their main needs and there is still some remaining percent that we can ultimately allocate to investing, that's why lower middle class people will have difficulty improving their lives, unless they can get out of low income and start managing their finances well so that their lives become better.

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Quote from: dezoel on May 14, 2024, 09:54:51 AM

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

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.

Probably not everyone who has been into crypto considered this, especially those who just jumped into the hype and the rising popularity of bitcoin since a lot of people are already profiting from it. Some people may think bitcoin will give them fortune in a short term period, but nah we all know that won't gonna be the case for 1-3 years when you don't have enough capital to double in a 4 year cycle, because most likely, for those who just bought their first bitcoin chances are, they are just going to double their money when bitcoin makes another run and hit another ATH. The good thing is, bitcoin is almost a guaranteed profit compared to any alts in the market, that's why some investors who have been here long enough to understand how bitcoin works, consider it a place where they can save their money.

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Quote from: Riginac111 on May 16, 2024, 05:44:07 PM

Actually many people does not know how to save money both of them know how to spend the money so what we successful in life will have to learn have to keep saving money in different way because my you have money I'm the after everything you does not have money again it remains a man to be depressed in life and they eat also shortcut to the life of any living soul so so keeping your money and a good conduct will make you not to fall

After a certain time man cannot earn much money if he wants. So he should also plan to retain his money during the period in which he will be able to earn money. Holding money is not a simple task. For some it may be easy to earn money but he cannot retain money and for some it is difficult to earn money. If one wants to earn money as well as keep it, he must educate himself accordingly. You have to prepare yourself that way. After earning, they can't progress much if they spend it recklessly. For this they must make some sacrifices. Focus well on how to keep your saved money and how you spend it.

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Quote from: Riginac111 on May 16, 2024, 05:44:07 PM

Actually many people does not know how to save money both of them know how to spend the money so what we successful in life will have to learn have to keep saving money in different way because my you have money I'm the after everything you does not have money again it remains a man to be depressed in life and they eat also shortcut to the life of any living soul so so keeping your money and a good conduct will make you not to fall

I think we really have to learn how to save now y so that we are not going to be a slave of money. The only way we could keep making money is through the ones we have saved especially when we invest the funds for something else. We need to alm down and make sure that we don't end up putting our funds in an investment that would later crumble due to our mistakes and not following advice that would help us to keep going. Money is very important in everything we are doing and that is a good reason for us to be patient and make good use of what we have so we don't go begging afterwards. As we are making money, it is good we always save so we can have what to spend always.

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Quote from: leonair on May 16, 2024, 11:10:26 AM

Savings is a power of the future. But if you save in an asset instead of saving in fiat money, you will get profit from it besides saving that money. So at present focus should be given on investment rather than only money savings. And should have a good understanding of investment strategies. Then this future will be bright. For this one should have a good understanding of money management as well as a good understanding of investments

Indeed, we must be able to carry out this act of saving because in my opinion this is one way to prepare for a better future, such as by preparing capital to open a business or to get married (if you are still single). Everyone's thoughts are of course different, not everyone is happy with saving or investing, because each person certainly has their own thoughts and their own desires. but what is clear is that they definitely want a better future and that must be prepared by saving which is one way of managing money which is quite good, with those who save but don't invest it doesn't mean they can't manage their finances well because even saving is included. good money management. because I'm sure those who save but don't invest have their own reasons.

If you want to invest, of course you need good knowledge and understanding first so you can invest well so you can try to avoid losses that might occur. maybe with those who save but don't invest because this is the problem or they are not interested in investing at all so they prefer to save their money like in an official bank.

Riginac111

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Actually many people does not know how to save money both of them know how to spend the money so what we successful in life will have to learn have to keep saving money in different way because my you have money I'm the after everything you does not have money again it remains a man to be depressed in life and they eat also shortcut to the life of any living soul so so keeping your money and a good conduct will make you not to fall

stomachgrowls

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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.

Always set back up plans on which it wont really be just that Plan B's but rather going into further more on which we know that there's no assurance that we could really be having on this world on which
there's no assurance that you wouldnt really be experiencing those crisis on which financial back ups would really be that relevant or something that recommended.

The thing on here is that not all people would really be given out that kind of opportunity on having that good financial condition or state. We are still thriving on day to day basis
on trying out to attain or achieve such state. We do know that tons of people doesnt have that enough salary or finances on supporting on day to day living.
For those who does have then consider yourself lucky because conditions or situations will really vary person to person.

It would really be just that common sense on what are the ideal things that you would really be needing up to considered to be prepared.

AnonBitCoiner

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Quote from: leonair on May 16, 2024, 11:10:26 AM

Savings is a power of the future. But if you save in an asset instead of saving in fiat money, you will get profit from it besides saving that money. So at present focus should be given on investment rather than only money savings. And should have a good understanding of investment strategies. Then this future will be bright. For this one should have a good understanding of money management as well as a good understanding of investments

Investment and saving both are necessary because saving can help you during an emergency while investment helps you to earn well in the future when you don't have the ability to earn lots of money to manage your life expenses.

I want to say that we should not focus on only one but should keep continuing both of them as ignoring any of these can be harmful for us. Divide your saved amount and use 50% for each so you can handle all the situations either it's a matter of emergency or it's a matter of salary for the future.

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Quote from: Ca4gil on May 15, 2024, 04:01:20 AM

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.

If at this time you are aware of how to use money and also understand how to save money through the knowledge you have gained in financial literacy. Of course you also won't be so afraid to make investments in assets that can bring you more money in the future and in this case I think you also already know that investments like Bitcoin are worthy enough for you to rely on as a future investment even though you also You can consider investing in other things as long as you have enough knowledge about them.

But when it comes to saving money, you also have to realize that the value of money will not always be the same if you can make comparisons through the prices of things you usually buy with money. So you only need to save enough money because the rest would be better to direct into investments that can provide more value to each of us in the future.

Jody.Drummer

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Quote from: Dr.Osh on May 16, 2024, 09:47:29 AM

however, this is also included in financial arrangements. Bad financial management will result in poor financial conditions. We do need to fulfill basic things such as paying for basic needs, saving, and so on. However, we also need to think about investment strategies. This will really help us in the future when we have no source of income. However, all aspects of finance are very important, we need to learn the basics so that we can meet all the necessary needs now and in the future.

That's clear, if you don't manage your money well then it will be difficult to save even though you have to. In general, people who don't have a job or income, maybe it's still natural that they can't save unless they force themselves to save by setting aside their pocket money. which he got from his parents. However, for those who already have a job and already have an income, they should be able to manage their finances well by being able to meet their basic needs and set aside some money for savings, even though there are those who only work for barely enough wages to meet their basic needs but don't there is no harm in trying for better results.

that's true, indeed investment can help us in the future, because investment can be done if you already have a good understanding, unfortunately only certain people do this even though they already have more than enough income but if they don't have the feeling to invest then don't If this happens, maybe they would prefer to save it in the bank, but that is also pretty good money management.

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Quote from: Dr.Osh on May 16, 2024, 09:47:29 AM

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.

however, this is also included in financial arrangements. Bad financial management will result in poor financial conditions. We do need to fulfill basic things such as paying for basic needs, saving, and so on. However, we also need to think about investment strategies. This will really help us in the future when we have no source of income. However, all aspects of finance are very important, we need to learn the basics so that we can meet all the necessary needs now and in the future.

Savings is a power of the future. But if you save in an asset instead of saving in fiat money, you will get profit from it besides saving that money. So at present focus should be given on investment rather than only money savings. And should have a good understanding of investment strategies. Then this future will be bright. For this one should have a good understanding of money management as well as a good understanding of investments

Dr.Osh

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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.

however, this is also included in financial arrangements. Bad financial management will result in poor financial conditions. We do need to fulfill basic things such as paying for basic needs, saving, and so on. However, we also need to think about investment strategies. This will really help us in the future when we have no source of income. However, all aspects of finance are very important, we need to learn the basics so that we can meet all the necessary needs now and in the future.

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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.

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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.

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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.

Topic: Take care of your money and learn to save. - page 7. (Read 1759 times)