Topic: Economic problem, why is fiat difficult to hold. - page 3. (Read 1316 times)
Economic threats in the future are getting more difficult, inflation that keeps happening doesn't seem to have the best solution, of course we have to be smart if we have a lot of money then use it to invest in products that are easy to sell like gold, silver, and crypto of course we can make an alternative investment because of the potential very high profits.
Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
As long as we don't have a budget of funds from various sources, the money that is held will definitely be needed or spent. In my opinion, we are basically talking about urgent or not urgent needs, if as long as the income is from one source, there is no other choice but the money that you hold. Then try to evaluate your expenses that have been spent, because seeing your shopping activities include people who are wasteful, too much to buy something that can still be replaced with cheaper options, or you live in an environment of people who like to show off, not used to living with simple things. This type of lifestyle of people will always demand more of themselves than other people, not wanting to be rivaled either in defense of goods or ownership. 
It is easy to say, but to complete the set plan, not everyone can do it. It can be said that money management is an extremely difficult thing, especially for people with family and outside relationships. I always make a spending plan at the beginning of the month, but very rarely do I execute my plan because in life there will always be surprises that we don't anticipate. I think it's easier for people who are unmarried or live alone.
It seems that there are important points that I have to apply in my future life where previously I had never made an expense plan at the beginning of the month like you said. And after I thought about it, it seems that I also need to try that to see how the difference will arise in my life because previously I prioritized financial planning at the end of the month or before entering the next month. I thought the difference and taste wouldn't be that significant, but I needed to try it out to find new things that might be a little different than what I'm used to.
Unmarried people will always find it easier to make and change their plans when they are anywhere as long as they can more easily adjust to their surroundings. But they can also run into difficulties if they still harbor feelings of grievance at others when they don't find significant results after struggling in their own way. However, for those who are married and live in someone else's environment, of course it will not be easy for them to complete and carry out the plan as they set themselves because there are obstacles such as unexpected things that sometimes need to be anticipated more quickly in their lives.
When you have cash, it gets spent even if you don't want to, so many people keep a very small amount of cash to avoid unnecessary spending, but I think this is never a long-term solution. If you keep money in the bank, money is withdrawn from that bank and spent, so keeping money in the bank is not a solution for spending less money. Some of the points we must find out are where we are spending more of our cash when we have it. Identify the places where more money is being spent and then try to spend less money in those places. If you can't calculate yourself, then you will spend money from wherever you keep it, so you have to change yourself first.
The worst thing is to waste. Saving will never be difficult if you spend according to your income. In today's era, people want to live a more luxurious life, they buy unnecessary things without thinking about anything, which adds to their financial problems. If you have a little more income then you can spend a little more if needed, you can also save it if you want. Bad habits will be eliminated and it will be easier to save for the future. The danger is actually being financially sound. Achieving goals is easy if you learn to recognize which expenses are your ambitions and which are your necessities.
Exactly right. We must first identify which are the main needs and which are additional needs that are not too important. After knowing all that, we must have the awareness that it is important to have mature financial preparations for the future. So that we will start to get used to managing finances well. and get used to living frugal and healthy.It is easy to say, but to complete the set plan, not everyone can do it. It can be said that money management is an extremely difficult thing, especially for people with family and outside relationships. I always make a spending plan at the beginning of the month, but very rarely do I execute my plan because in life there will always be surprises that we don't anticipate. I think it's easier for people who are unmarried or live alone.
Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
Indeed, it is very challenging for many individuals to mange money effectively, you are not alone who is facing this issue. There are many personnel habits and societal influences, can make it difficult to hold on to money, such as, impulsive buying, lack of budgeting and emergencies. Despite all these issues, it is never too late start improving your finances by making monthly budget, setting saving goals, creating financial plan and implementing them wholeheartedly, you can work towards a healthier financial future.
The worst thing is to waste. Saving will never be difficult if you spend according to your income. In today's era, people want to live a more luxurious life, they buy unnecessary things without thinking about anything, which adds to their financial problems. If you have a little more income then you can spend a little more if needed, you can also save it if you want. Bad habits will be eliminated and it will be easier to save for the future. The danger is actually being financially sound. Achieving goals is easy if you learn to recognize which expenses are your ambitions and which are your necessities.
Exactly right. We must first identify which are the main needs and which are additional needs that are not too important. After knowing all that, we must have the awareness that it is important to have mature financial preparations for the future. So that we will start to get used to managing finances well. and get used to living frugal and healthy. 
The worst thing is to waste. Saving will never be difficult if you spend according to your income. In today's era, people want to live a more luxurious life, they buy unnecessary things without thinking about anything, which adds to their financial problems. If you have a little more income then you can spend a little more if needed, you can also save it if you want. Bad habits will be eliminated and it will be easier to save for the future. The danger is actually being financially sound. Achieving goals is easy if you learn to recognize which expenses are your ambitions and which are your necessities.
This is purely a bad habit, instead of looking for a strategy to keep money out of reach which I think is also a bad option for an emergency situation, I think changing the habit is better. Especially if the OP lives in a crowded center, this will be an extreme journey because just leaving the house will trigger extravagant desires.
Maybe it's true that everything has to start with changing wasteful habits to be more efficient. The method can be by having targets to be achieved which can be accomplished when raising money. Because without anything to achieve, humans tend to squander the money they hold. the second act is to have a foresight. Namely having an awareness of the importance of building financially from now on so that it will be better in the future. But to do all of this requires high financial management and discipline. and if one is not accustomed to discipline then all is in vain.If we look at the development of the world of social media today there are lots of advertisements offering their products and there is also the term that you can pay on the spot when the ordered goods arrive. So, in my opinion, it is things like this that have led to an increase in shopping culture, in this case online, and in my opinion, this has become a bad habit for individuals if they continue to obey it and will become an obstacle in building finances and managing finances.
I just remembered before that most of my people in my country didn't trust online shopping because it was tagged as a scam as they received an item that was not the same in the picture but later on people kept ordering it, which is what they called online shopping addiction, where whenever they are stressed they just open the app and buy on it, meaning they can't control themselves. As you know, you can go shopping without going out. The accessibility is positive, but when it comes to controlling our urge, that is difficult.
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I think this is really related to inflation, we spend more money because the value of the money itself is inflated. That being said, you can blame anyone, the society, capitalism, or anyone who contribute to the inflation that make Fiat money has less value. But it won't change anything, you are the one who has the control over the money that you owned. It is true that as a group of people and humanity, we need to find a solution for this money problem, but as an individual it is our obligation to adapt with inflation and control our spending.
Apart from that I see the impact of inflation making the price of basic necessities continue to rise, thus making the value of the currency no longer valuable when we spend it and plus the minimum wage never rises which forces people to buy these basic necessities even though the price continues to rise and is never balanced in the market. The solution is trying to save money to spend on basic needs as needed and if you have land that can be used to plant a small portion of basic needs then you can apply it to each individual from now on.Fiat currency will continue to depreciate and if the balance of income and expenditure is out of balance then human life will continue to be in trouble. The solution is as I have stated above and if it is possible to do it it must be done immediately, at least this solution can overcome the problem of basic needs to meet the necessities of life for our respective families.
This is purely a bad habit, instead of looking for a strategy to keep money out of reach which I think is also a bad option for an emergency situation, I think changing the habit is better. Especially if the OP lives in a crowded center, this will be an extreme journey because just leaving the house will trigger extravagant desires.
Maybe it's true that everything has to start with changing wasteful habits to be more efficient. The method can be by having targets to be achieved which can be accomplished when raising money. Because without anything to achieve, humans tend to squander the money they hold. the second act is to have a foresight. Namely having an awareness of the importance of building financially from now on so that it will be better in the future. But to do all of this requires high financial management and discipline. and if one is not accustomed to discipline then all is in vain.If we look at the development of the world of social media today there are lots of advertisements offering their products and there is also the term that you can pay on the spot when the ordered goods arrive. So, in my opinion, it is things like this that have led to an increase in shopping culture, in this case online, and in my opinion, this has become a bad habit for individuals if they continue to obey it and will become an obstacle in building finances and managing finances.
Holding cash isn't a way to build wealth or even preserve it over time. Cash savings can lose value over long periods of time and money at hand difficult to hold specially when you're the type of person that loves impulsive buying, shopping, get together with friends etc. In my point of view investing on asset is much better then holding cash on hand or if you really want to hold cash in hand then you need to start tracking your expenses which helps you to control on unnecessary expenditure from your daily routine.
But investment is not always profitable, it also has risks that are sometimes greater than the devaluation of the currency. if you invest without knowledge and buy the wrong property, your money can also disappear overnight. Everything has its risks, although holding too much fiat is not good because inflation will eat away at its value, but we will always need fiat. our daily life would be difficult without fiat. so why not diversify your assets instead of just focusing on saving or just investing? Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
Its common fiat is difficult to hold for sure if you have money the tendency are you going to spend your money on something that you want or something that you need, I mean we are all guilty of buying what we want, also there are a lot of expenses that we need to pay so when you're onto a certain way of living you we tend to increase our way of living as well so even though we get a big amount of money or fiat money it would just end up feels like nothing because we just end up spending or and buying more if we have a lot of fiats.
Maybe it's a good strategy to avoid using cards and just use online or digital money, but if you really want to spend on something it doesnt really work for the long term. The way I solve this is just to budget your money for example on your salary you could easily divide it into something like 40% on investment saving then 20% on your expenses 10$ on your wants something like that, there was just no way to fix it the only way to do it is to discipline your self and know your limitation always remember to do not buy something that you cannot afford and always save higher than your spending.
Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
When you have a problem to keep track of your finances then I would recommend you write down any expenditure you have. Just start a new excel sheet today and write down everything you buy. After one month make a summary of all the purchases and classify them into necessary and unnecessary things. This will give you a quick overview where most of your money is going and where you can cut back on things. In case you struggling to control the money in your wallet, you need to work on your constraints. There are a few ways to make it harder for you to spend too much money. First of all leave all credit cards at home and only use cash. This way you can only spend what money you in your pockets. For that you should also set a daily budget of maybe 25 USD. Like that you force yourself to save money everyday and you can't overspend. It's hard to limit our own spending, because we are surrounded by advertising. All the companies want our money and will offer us new products 24/7.
El Salvador even has programs that will allow the best students to get jobs in prestigious companies after training, but what I like most about El Salvador is that the population has the opportunity to store their savings not in fiat but in bitcoin.
This is an advantage when you know that bitcoin is officially supported by the state, and the state contributes to the education of the population, those who wish it. So although Salvadorans can also keep their savings in the US dollar, which is also pretty good at dealing with inflation, but bitcoin can give something more, it can also be a great investment.
This is an advantage when you know that bitcoin is officially supported by the state, and the state contributes to the education of the population, those who wish it. So although Salvadorans can also keep their savings in the US dollar, which is also pretty good at dealing with inflation, but bitcoin can give something more, it can also be a great investment.
Many people may not see concern regarding El Salvador expansion of the country and the adoption of Bitcoin, I love the progress he is having with the people coperation and the adoption of Bitcoin but I have been thinking what will happen to his legacy when he no longer the acting President of El Salvador, election is fast approaching by next which will be by 2024 and some party that don't like him have become anti Bitcoin, using that strategy and games to manipulate people on how Bitcoin is been force as a legal tender instead of been voluntary; that been said.
For now, Elsavador can only contribute only little to their welfare, the investment has been a negative PNL since they resume buying in December, but they will be even when BTC return around $40k but they wouldn't have anything as profit until they wait for $50k and $60k and I don't think they have plan to sell at these minor prices. Before El Salvador will earn from their investment, it will take a lot of time.
I hate that while a "Bitcoin nation" seems revolutionary, the common citizen will have to deal with the aftermath. Who would suffer if BTC fails to meet your high goals and the economy collapses? The people? It's a terrible shot. We hope El Salvadorans know what they're going into.
I think it's a story that can indeed inspire anyone who is currently struggling to be able to have a better job and be able to have a better income. In El Salvador there are indeed more and more stories about the lives of its citizens who are getting better after the adoption of bitcoin. because the government there is also quite active in providing literacy related to bitcoin. residents who want to learn bitcoin, of course, have provided a special school there. And it helps the growth of bitcoin adoption among the people there improve.
And it's true that currently learning everything related to digitalization is something that can be expected to help someone's economy. whether it's about digital payments or opening a digital or online-based business. the point is people have to start adapting to all things that lead to today's digital world. Economic growth in the digital arena is growing rapidly. even the government is also focusing on digitizing their government programs for the good of its citizens. included in finance.
Keep in mind that El Salvador is a country that has adopted bitcoin so it is very natural that many stories from its citizens learn about this and they try what has been needed because a country now with bitcoin has been friendly, even if there is a school on bitcoin literacy then El Salvador will be very natural this country has been specialized for its citizens to understand bitcoin because it will be used as a currency that they use every day.And it's true that currently learning everything related to digitalization is something that can be expected to help someone's economy. whether it's about digital payments or opening a digital or online-based business. the point is people have to start adapting to all things that lead to today's digital world. Economic growth in the digital arena is growing rapidly. even the government is also focusing on digitizing their government programs for the good of its citizens. included in finance.
If someone does not follow the development of digitalization then he will be late in his development, business now involves a lot of digital including in various fields even in the restaurant business now uses a lot of digital where they can order food that is delivered to the house or other types of transactions that are so large on the internet.
But if you really can't avoid it, just put your fiat savings in your personal vault bank instead of putting it in your digital wallet that you know might run out. For me it is better to have fiat and digital fiat that you can use if needed.
. uninstalling online shopping apps is also the most difficult. because the application has also become a tool that helps make it easier for us to shop for our needs every day. yes, this is a dilemma. but what is certain is that we must have definite goals, and we must become motivated and work harder so that we can achieve these goals more quickly.
Online shopping apps are indeed a great help to you especially in developed countries. The only bad thing is that we are buying more and more than what we should need on a daily basis. It's okay to overdo my shopping, you know that you earn too much, but if it's enough, it's better to control it. I think it's better to make digital wallets for expenses and another one for your savings.
Talking about money is never ending. There are just needs that come to coincide when what we have tried reaps from the work. Saving work-produced funds, for example, salary either in the bank or at home depends on each individual, for sure it will be taken and used again.
As for the statement whether to contribute, if you look at it it really contributes to the market and business people, it means that our money is born from the circulation of trade and money. try to see the velocity of money in the market during payday moments and holidays, for example at the beginning of the month and holidays.
As for the statement whether to contribute, if you look at it it really contributes to the market and business people, it means that our money is born from the circulation of trade and money. try to see the velocity of money in the market during payday moments and holidays, for example at the beginning of the month and holidays.
Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
Most likely both society and yourself.
I agree with that, I think the root of the problem is one level above that. In the current economic climate, a lot of countries are struggling to keep their economy positive or neutral. To keep an economy afloat, you need spending. When interest rates are high, borrowing reduces thus so does spending. High inflation causes excess spending too. Pressure to spend otherwise can come with incentives to do so, marketing or advertising that causes increased spending, and thus a societal pressure to spend even when it is not wise to do so.
The problem resides within people and personal in the case of OP, though pressure from the level above would definitely be something to consider too.
Holding cash isn't a way to build wealth or even preserve it over time. Cash savings can lose value over long periods of time and money at hand difficult to hold specially when you're the type of person that loves impulsive buying, shopping, get together with friends etc. In my point of view investing on asset is much better then holding cash on hand or if you really want to hold cash in hand then you need to start tracking your expenses which helps you to control on unnecessary expenditure from your daily routine.
In everyday life we always use money to buy our needs, so if our income is not stable and limited then to save is certainly very difficult, but some people who earn big are also difficult to save because they are too wasteful in spending their money, so buying bitcoin or property is a way for us to have future assets, Never save money because little by little the money will run out without us realizing it, and you have to change the current bad behavior.
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