Topic: Economic problem, why is fiat difficult to hold. - page 10. (Read 1330 times)

Because of your habit of doing excessive things spending money cannot be controlled properly, plus you don't manage your finances properly at every expense, this will be a waste for you, no matter how much money you hold, it will still run out.

It's up to you to manage it again, and spend according to what you need, stay away from bad habits that are not beneficial so that this will reduce your financial expenses, I know that holding cash is very itchy to want to go shopping and spend more but think again for your future how to save money properly, while you can be well disciplined then I think it will be easy to handle.

It also contributes to what we are currently facing right now, recession and inflation. Before we can have an extra money to spend and to have relaxation now most of my money are being spend to expenses, I am burning a lot these days as well, I can't handle money not because I spend too much but because the cost of living in my own country exceeded that way it was before.

Because we keep do use of money on our regular basis,we should not be keep committed on interest.Don’t get more loan and get into the credit web,then you are forced to sell your gold to settle the loan.If you skip of loan,it’s mostly enough to make free from more expenses.So it help you from the good side using of the money which can be invested on various commodities.Avoid the loans and debt from unwanted.

You generally do not have financial management and add bad habits that are supported by freedom. Because usually people like this are not only you, I also experienced it. However, there is one thing that makes it quite meaningful and provides lessons for long-term thinking. Scare yourself away from things that you don't want to be a little careful. Maybe today we can spend a lot of money but tomorrow it's not certain. Therefore getting to know the world of investment, business, building brands and hanging out with people who are already proficient so they can learn many things how important it is to take advantage of every opportunity to guarantee life in the future. Come back to yourself, if it doesn't come from a strong personal desire then everything will be in vain.

Op it is not only you that facing that problem and worst part the matter is the inflation. Now if you have $200 a day inflation will just finish them within some second with just 4 or 6 items. One thing I also discovered from this extravagant spending is decision. Once you made up your mind that you not spending it again and put your mind in it there you can save some money for future use.

One thing that take money from a man is woman. If you can avoid women in your life then you control some percentage of spending.

I think fiat isn't meant to be stored, it's meant to be spent. That's why some inflation is considered a good thing: the idea is that people understand that their money will be able to get them less goods in the future than now, so they're motivated to spend. But as for the cash issue the op described, I think it's harder to keep track and control spending with a bank account (unless you designate a savings card or something), whereas with cash you can just commit to taking a certain amount with you, and then you literally can't spend more. I think you just need to train yourself to be strong-willed, and set realistic goals. Then it won't be hard to manage funds.

I think it all really depends on the needs factor which is certainly different for each person. Even if you keep your money in the bank and you don't take an ATM and also don't have M-banking on your phone. but then you have an urgent need, so you will still withdraw the money somehow and use it. even though the distance to go to the bank is very far, I'm sure if there is an urgent need, you will go that long way and head to the bank to collect money.

But if what you mean is when we hold a lot of cash then we become more wasteful then this does happen to some people. Because cash is very easy to use. so it's hard to refrain from using it. an effective way to stop this is simply to limit the cash we hold. namely only holding cash for the amount of the budget that has been calculated to meet only basic needs.

There are so many temptations around that attract your eyes to withdraw money. Also because of worldly luxuries we will never be able to keep our money in the wallet safe. For me it's better to just leave your extra money in your safe vault so you can't move them when you're out. It's also good that you invest only in cryptocurrencies that have the potential to rise so that you can save some income somehow.

As for your question about whether that is really a bad thing on your part so you can't stop wasting money, it can be yes or no. Yes, because you have not been able to control the distribution to those who ask for your finances. And no, because we really have obligations to do such as paying bills, food and many others.

This is very true. It's our habit only. Just assess the situation that you had previously with limited money in hand. Will you be borrowing money? Or will you be okay? If you would be okay then you are spending money in a wrong way but if you might have to borrow money eventually then you are right it's just the expenses that you have are unavoidable and absolutely necessary and you need to raise up your income in this scenario to ensure savings.

ATM card, internet banking can't be a solution to hold money because it is easy to withdraw money through ATM and through internet banking which increases our unnecessary expenses because in today's digital world e-commerce sites are becoming popular both and there are debit credit cards.  And making payments through internet banking is becoming very easy. so what we need to do is to reduce unnecessary expenses and save and hold money by making investments that can be a long-term solution. Because investment money does not want to break or spend easily

I don't think it is a problem if the money used is 20% of your total net income, sometimes at a certain level of life, branded goods or who have the impression of luxury in need of forming a trust or admiration for yourself, if you are one Celebrities will definitely need branded goods.
But if our income level is below and does not find a function on luxurious things for the journey of your life and business, then it does not need to be done and it is not.

Why is Fiat hard to hold?
Your income is small and most important because you don't have money management.

Dear first of all understand fiat doesn't guarantee the value behind the paper or currency whatever you call it locally. Hmm for the second reason, I am not sure how can you justify well it's not your task but still, as you are asking why it is difficult to hold so you should answer the inflation's impact. It is difficult to hold fiat because inflation regularly decreases your buying power.

For paper cash and ATM cards, people are now used to e-payment apps and even now people are shifting to digital crypto wallets which they use to invest in the market and make their daily payments. Well, it's not our topic being particular to the topic bro the point is the technological developments and trends of crypto made a great impact on the dominance of crypto over fiat money. So as with the passage of time, the fiat is losing its value and utility in the economic circle.

Tracking money is not an easy thing, but you can facilitate the tracking process if you download an application on your phone. These applications have attractive icons that enable you to manage your financial life with ease. All you need is a few daily clicks after any purchase, and this includes small purchases, even donuts. You add them to the account and at the end of the month you will have a simple list of your expenses, after which you will decide which of these expenses are necessary and which ones you can bypass.

Google Tracking money apps you can find some apps according to your country.

There are several ways you can do it, so that your money can be frozen in storage and there are several reasons why money doesn't stay in your hands, there are always expenses.

First: a good method of saving money.
* If you use a bank account, try not to use an ATM, you only need to have an account book and don't keep the book in the cupboard, try to wrap the bank books properly and put them under the floor / under the floor tiles of the house, you send money to be deposited with just a slip, when the storage period is over, just disassemble the tiles and take the book.
* The second solution, buy gold bars little by little, try to keep the gold in the safe and keep the safe key away from you, of course it's a secret, only you and your wife know about it.

The reason why money can't settle down, there are expenses.
* First: you must have other income, not one income that you earn, because one income does not meet your needs with the money you earn.
* If you get an average income of $ 1000/month, try to save 30% of that income.
Another solution: now measure your needs with your income, needs.
1. Measure your daily needs.
2. Measure your monthly and annual needs.

After that, measure your income per day, month and year, whether the expenditure is large or a little income or if the expenditure is greater, try to reduce it, only buy what is necessary, 30% of the money you get is turned off / frozen.

So many solutions from me.

Money is used to meet expenses and whenever we need something wether it is necessity or you just want it for you, you have to pay price, and what other benefit in keep collecting Money if you will not spend it for yourself.

Other than that, i do agree with you, like if i have money in hand then it used up so easily, my younger sister always ask for money and i have to give her if i have money in hand and if I don't i apologize and saves my money. (Many will say, your words are not matching like in the first para and here and many will say, how could you declare not giving money to loved ones as saving money) the point is, she always buy waste and unnecessary things from which i want her to stop.

And, i always save money when i am in my friends because they also find a way to waste your money, even if you have in your atm so i just do not hold atm card with me. Hehe. I might be declared as miser, but i am not because when i know it is time to spend money i do not hesitate, if you really wants to stop wasting money then only keep what you need for your regular expenses and the money left behind, use it to invest in BTC. Because when if you will have money in Crypto it become a little difficult to withdraw them for small things.

Because it's a centralized currency and can be affected by the means of inflation, it's not profitable to hold because it depreciate in value, there's no privacy with the use of fiat, many believed it's a liability to hodl since it will decrease in value over time, there's no form of holding a fiat currency that can be compared with bitcoin in cryptocurrency not to talk of the trust in which is not found with using fiats from the commercial institutions, banks and government regulations.

It's especially hard to save fiat what with the current economic situation where fiat has lost its value. I just believe that no matter how strict the regimen is, it's still finds a way to get spent. I dunno if it's just me this feeling of having to solve a thousand and one things once the money is there happens to or others experience such.

I won't call you reckless especially how you're putting much effort to save. In my country, the local fiat is so devalued that it would be best to spend than hold..

It is not the money's fault to be difficult to hold. It is your difficulty to handle your impulsiveness. And worse is you're blaming it to other things. So to my response with your question, yes. It's probably a bad habit of yours but it can be easily to solve. First is forgive yourself. We all gone through that where we became irresponsible of our assets. Then practice accountability. Just know and accept that it is your fault. Not the money's fault or the banks fault. It's probably your own organization of your money, your priorities, or budgeting. Most importantly is the action. You work on how you spend your money. How you plan to risk it, invest, or keeping it. Just know that regardless or wherever you put it, there's always a risk.

I also have a hard time-saving fiat money and have developed the habit of visiting supermarkets less frequently on a daily basis. Instead, I set aside a certain day of the week for shopping and make a list of the necessary things and products for the week. Buying everything at once in one day turns out to cost much less than doing it daily.
I know the marketing tricks when the most necessary products, such as bread, are located in stores at the very back. This is designed to ensure that the buyer, having the goal of buying only a loaf of bread and passing by the shop windows, buys something else additionally.
Therefore, in order not to be tempted by various unnecessary things, it is more convenient for me to purchase everything at once in one day. Nevertheless, I understand that such a strict regimen will not save me from walking with children and spending on children's goodies and toys.

Avoiding cash and not taking ATM cards from banks is not the right solution for everyone because as long as you still can't be frugal with your habit of spending every money you have, you will always find ways to take it. Even if you don't activate USSD or internet banking or anything related to money, because basically every human being cannot avoid money even though they can avoid cash. But in this kind of case I just want to give you a little solution that maybe this can be very useful for you to apply in your life.

The first thing you should do if you still don't support your own family is not to associate too much with those who are spenders because it can trigger you to be a wasteful like them too. That's the first, and the second is don't be too interested in momentary pleasures that might result in lasting difficulties for yourself, for example, like often following friends' invitations, basically they are very lazy at working to make money.

So that you can also more easily lose motivation to continue working and making money in your own life. I think these two things can make you practice saving money before you spend it in any way that is completely useless, so you can consider these two things because they are directly related to the environment and to your daily interactions.