Topic: Economic problem, why is fiat difficult to hold. - page 8. (Read 1242 times)
In the last two years inflation has occurred in many countries due to economic conditions and an increase in our expenses has been observed due to this inflation. However, this increase has not been reflected in the salaries of citizens in many countries and therefore it has become very difficult to save money. On the other hand, when I controlled my own expenses especially in the last few months I observed a significant increase in expenses. In other words, it's almost like breathing has become a spend of money. Unfortunately, when the situation is like this we have to make extra expenses by going out of the plan and spending schedule and as a result we go out of our planned target. To make a comparison with myself, it would be possible to state that this situation mentioned by the OP is not unique to him/her and that many people now have to live in this way.
In my opinion those individuals who have responsibility of family and have to fulfil the needs of a family never spend money without planning. A responsible man always control expenses but those individuals who don't have any responsibility cannot control expenses and spend lots of money in useless activities.
Everyone wants a luxurious life but it depends on a person's situations that whether he can afford it or cannot maintain a better life. I will suggest that minimize your expenses so it will be easy for you to maintain a successful life otherwise your future will be stressful as one who don't plan when he is wealthy so he regret when the time passed.
Everyone wants a luxurious life but it depends on a person's situations that whether he can afford it or cannot maintain a better life. I will suggest that minimize your expenses so it will be easy for you to maintain a successful life otherwise your future will be stressful as one who don't plan when he is wealthy so he regret when the time passed.
The real problem is to make the money work. Earning and saving at least something does not seem too difficult and almost everyone can do it if they wish, but further actions with money cause difficulties. Often, the saved capital is too small for serious investments, and even more so in order to distribute it in different directions.
In addition, the fear of losing everything stops them from doing anything, or people decide to give money to the bank for a deposit, which is also not much better than just keep fiat, since inflation will eat up the purchasing power of money.
We are not taught how to handle money, if you learn it yourself, then you will have a chance to achieve something in this life, if not, then even those small fiat savings that you can save will lose their value.
In addition, the fear of losing everything stops them from doing anything, or people decide to give money to the bank for a deposit, which is also not much better than just keep fiat, since inflation will eat up the purchasing power of money.
We are not taught how to handle money, if you learn it yourself, then you will have a chance to achieve something in this life, if not, then even those small fiat savings that you can save will lose their value.
I agree with you. These days you have to think about how to make money work. Otherwise inflation will devalue your capital. The problem is that there are fewer and fewer good ways to invest money safely. There are risks and restrictions everywhere.
Holding or saving money is actually good especially in a case of emergency, but of course in investing there's always a risk involved if you don't take that risk your money will remain the same which couldn't be good when inflation hits. If you don't make your money work for you then there's nothing wrong about that, still having a passive income is much better. We don't need to be scared to risk our money if we already have the knowledge how to make our money work for us. Just do your own research and if you already build up your decision then good luck it's a win and win situation since you could gather experiences from your losses.
The real problem is to make the money work. Earning and saving at least something does not seem too difficult and almost everyone can do it if they wish, but further actions with money cause difficulties. Often, the saved capital is too small for serious investments, and even more so in order to distribute it in different directions.
In addition, the fear of losing everything stops them from doing anything, or people decide to give money to the bank for a deposit, which is also not much better than just keep fiat, since inflation will eat up the purchasing power of money.
We are not taught how to handle money, if you learn it yourself, then you will have a chance to achieve something in this life, if not, then even those small fiat savings that you can save will lose their value.
In addition, the fear of losing everything stops them from doing anything, or people decide to give money to the bank for a deposit, which is also not much better than just keep fiat, since inflation will eat up the purchasing power of money.
We are not taught how to handle money, if you learn it yourself, then you will have a chance to achieve something in this life, if not, then even those small fiat savings that you can save will lose their value.
I agree with you. These days you have to think about how to make money work. Otherwise inflation will devalue your capital. The problem is that there are fewer and fewer good ways to invest money safely. There are risks and restrictions everywhere.
Why you blame yourself if you're the one who want to spend it and you happy when you buy it? remember, you only live once 
I'm not entirely disagree with those kind of people because they used to live paycheck to paycheck, as long as they not borrow money for unnecessary thing and they not leave anything bad to their friends or family, it's completely fine.
Not all people want to be rich and not all people can become rich.
I'm not entirely disagree with those kind of people because they used to live paycheck to paycheck, as long as they not borrow money for unnecessary thing and they not leave anything bad to their friends or family, it's completely fine.
Not all people want to be rich and not all people can become rich.
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?
I really understand what you're talking about, sometimes it is not as if the money we spend on our daily expenses is a waste. it is something that is needed that is why we spend to get them. And the price of everything is on the high side and if account should be taken on what we have spent money on, you will notice you didn't just spend money unnecessary but money was spent in getting the necessary things. I think it is how expensive things how in the society that makes it look as if money I spend unnecessarily, the present state of the economy, it is so very difficult to save money because everything you spend with money is on the high side compare to before.The main reason why people find it so difficult to save money is because they can't provide the basic things they need, so it will be difficult to save money when there are things that is needed to be done with money. But at least if one earns a good amount of money that can cater for the daily demand I don't see any reason why it will be difficult for one to save money. Their is no value in fiat, and when it does not flow in larger amounts it is hard to save it.
The thing is.... people are bombarded with advertising to buy goods and to pay for services... every day. You watch television and they show advertisements of fast food franchises and people quickly hop onto their phones and order food through a App.
Credit cards and Debit cards were created to remove people from physically touching and seeing the Fiat money that they are spending. (You do not see the money going out of your physical wallet, so you spend it without thinking about it)
Credit cards and Debit cards were created to remove people from physically touching and seeing the Fiat money that they are spending. (You do not see the money going out of your physical wallet, so you spend it without thinking about it)
This is a problem that majority of individuals in the world have, it's not a good habit and it has to be stopped or it'll affect other parts of your life and make it impossible to be able to save and also leads you to making irresponsible investment choices because you want to get rid of the money out of your hand or account so you don't spend them on unnecessary things meanwhile you don't realize you're wasting your money on those investment.
Learn to be able to hold your money, most individual don't have a problem with making money but holding that more and securing their profits that's where they have an issue and some started as not been able to hold money without spending it but then realized it too late.
The real problem is to make the money work. Earning and saving at least something does not seem too difficult and almost everyone can do it if they wish, but further actions with money cause difficulties. Often, the saved capital is too small for serious investments, and even more so in order to distribute it in different directions.Learn to be able to hold your money, most individual don't have a problem with making money but holding that more and securing their profits that's where they have an issue and some started as not been able to hold money without spending it but then realized it too late.
In addition, the fear of losing everything stops them from doing anything, or people decide to give money to the bank for a deposit, which is also not much better than just keep fiat, since inflation will eat up the purchasing power of money.
We are not taught how to handle money, if you learn it yourself, then you will have a chance to achieve something in this life, if not, then even those small fiat savings that you can save will lose their value.
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?
I guess the same thing happens to everyone, I found myself spending more money when I have some money in my bank account, and I found myself spending less when I have no money in the bank.I always end up planning everything out myself for the week so that I can safe some money, this is why I don't like keeping local currency, I only change stable coin into Fiat if the needs can't be avoided.
Another reason is the inflation, you keep money in the bank, it starts losing value after, I am now used to keeping most of my money in BTC and stablecoins.
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 someone regularly overspends beyond necessity, it is considered a bad habit. Some people think that if they have money, they have to spend it. There are some others who try to spend money as soon as it comes into hand. But those who have such habit should be aware. If the money has to be used after withdrawing from the bank, it may be a bit difficult or time consuming which will help to reduce the extra expense of the person to some extent. But it is best if the person can reduce his spending propensity on his own.better switch to saving and that's better to prepare for the future,
they should be able to sort it out on their own.
In my opinion, it is a combination of both societal influence and personal choice when it comes to spending money and determining the level of luxury in one's lifestyle. However, nowadays, inflation may be a factor contributing to the need to spend extra money. Additionally, it can also depend on the economic condition of one's country.
The influence of dependence on the country's economic conditions will not be too much for every citizen as long as they can still work in a place that can provide them with money. However, the difficulty that is often faced by every citizen is at their own level of luxury and lifestyle and when they start spending money without consideration for saving. Even though there are conditions where they are forced to spend money excessively or unusually, I think they won't be forced to do this forever if they still want to find ways to stay frugal in their lives. Because it can save him a little from the difficulties that occur during this inflation.
The problem with money at hand is that it ends up being spent very quickly. This happens to everyone out there. You can start avoiding this by keeping recurring deposit where you exhaust your monthly income into in order to avoid it from getting spent.
Keep a limited amount of money at hand for possible expenses which you can derive from last few months expenses.
As soon as you see that your total volume of money at hand has reduced you yourself would cut down on unnecessary stuff - it's a psychological thing and it works to prevent over spending. You need to get that cash away from hand as soon as the monthly salary comes in.
Once those deposits mature you will be surprised at to how much you actually accumulated over time.
Keep a limited amount of money at hand for possible expenses which you can derive from last few months expenses.
As soon as you see that your total volume of money at hand has reduced you yourself would cut down on unnecessary stuff - it's a psychological thing and it works to prevent over spending. You need to get that cash away from hand as soon as the monthly salary comes in.
Once those deposits mature you will be surprised at to how much you actually accumulated over time.
Inflation is eating deep into everything, increasing the cost of living. It's very difficult to have money and that money is enough for what you have in mind because the price of everything is now increasing.
It's very difficult to have money and not spend it on things that will give you comfort or spend it on things in general. When there is money you always want to solve your problem. Funny enough, the problems are never finished. So it turns out there is always a problem to solve when there is money.
Saving money requires a lot of discipline. If you can't keep it yourself, you should keep it in an account where you won't be able to use it for the time period. Usually, those savings should be for the short term because with the high rate of inflation, saving in fiat money for a long time only ends in a loss because inflation will eat that into that savings too.
It's very difficult to have money and not spend it on things that will give you comfort or spend it on things in general. When there is money you always want to solve your problem. Funny enough, the problems are never finished. So it turns out there is always a problem to solve when there is money.
Saving money requires a lot of discipline. If you can't keep it yourself, you should keep it in an account where you won't be able to use it for the time period. Usually, those savings should be for the short term because with the high rate of inflation, saving in fiat money for a long time only ends in a loss because inflation will eat that into that savings too.
we don't have the same view on saving money and spending, apart from everyday problems in life and preparing for the future I see making money and keeping them is not the same for everyone, we can living in the same earth house, but each person's life is different. As in the past, I also have extravagant spending behaviors, but there is a period when I see more than poor people who can't even provide for their own food and shelter, I have a strict look at myself to avoid waste fee. Money associated with life they help a lot, but I also don't silence the question that I have to be really rich, as long as life feels satisfied with what you have, missing a meal will not cause you to die. Come on, it's okay if the sleeping place is dirty, so if you can, take a look back and help those around you or improve your own life and don't be too luxurious. The principle of wealth is to give, and do not think you will receive, because it is a fairness that you help without thinking that someone else will help you.
Best solution is finding a right investment plan. I used to do the same. Money in hand will fly away like a rocket. And it's a habit. If you want to control it, you will need long time and a plan. But if you invest it, you will grow your money instead of spending on things like you do right now. Also, you can save your money to something. When there's a target to fill, your mind will tell you not to spend money on things that you don't need, and also it will always remind you of your target. So you will avoid doing extra spend.
Make up your mind and work for that target. It will increase your focus and will help you to save in the long run. Spread your spending, make a plan. Here's what I do in order to save. I divide my income into 2 parts. 75% and 25%. I will put that 75% into a saving account. That could be used for savings or investment. But that will be always put to saving account that I won't touch. The other 25% I use in order to cover my expenses and what I wish to buy. You can also give that money to your family member for to hold. Give them the account, but you keep the access. So it is safe in their hand and you can use the rest. If you like this idea, you can try it out, or you can make one of your own based on your need. Always try to push your limits.
Make up your mind and work for that target. It will increase your focus and will help you to save in the long run. Spread your spending, make a plan. Here's what I do in order to save. I divide my income into 2 parts. 75% and 25%. I will put that 75% into a saving account. That could be used for savings or investment. But that will be always put to saving account that I won't touch. The other 25% I use in order to cover my expenses and what I wish to buy. You can also give that money to your family member for to hold. Give them the account, but you keep the access. So it is safe in their hand and you can use the rest. If you like this idea, you can try it out, or you can make one of your own based on your need. Always try to push your limits.
What do you mean by fiat is a acam? Are you aware that no matter how bad the government may be, they can never allow banknotes to be a scam because they also benefits from it, I can use my country as an attachment in these area gonna those days were some citizens uses fake fiat note and if they are been hold by any means, they will be jailed, I strongly believe that how it is every were.
Which part of what I said you didn't understand? It is a scam. USD lost 99% its purchasing power since I don't know when. Whoever held USD for a long time lost money. (which is purchasing power) The central banks print FIAT out of thin air. Can you print goods and services? No. Then why do they print FIAT without anything to back it up? That's the definition of a scam. It is a wealth transfer. The rich gets richer and the poor gets poorer. Hopefully you understand it now.
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?
It is both society and yourself; you are having fun scrolling through social media, right? That is also one of the triggers that makes you an impulsive buyer; you spend on unnecessary and expensive things, saying that you are gifting yourself. That is why I've noticed it also in myself: when I see a new restaurant open, I go there to eat, which is sometimes not bad, but there are times that even if you are short on money, you can't control yourself from going there. Also, I've already restricted my fund transfers in my account to prevent buying online. All of this is still about our selves; we don't have control over things. One of the tips that I can give you is that if you are really urging yourself into something to buy, wait for 2 or 3 days if you still want it to be bought. Like, if I see a new release phone that is also budget priced and I am very eager to buy it as I've been watching videos of it and getting feedback, but if I really hold myself back and wait for 2 to 3 days, then I don't want it anymore because I needed to use the money for something else. Try to practice it.
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 someone regularly overspends beyond necessity, it is considered a bad habit. Some people think that if they have money, they have to spend it. There are some others who try to spend money as soon as it comes into hand. But those who have such habit should be aware. If the money has to be used after withdrawing from the bank, it may be a bit difficult or time consuming which will help to reduce the extra expense of the person to some extent. But it is best if the person can reduce his spending propensity on his own. 
What the OP means, s/he finds it difficult to save money, cut expenses that aren't needed.
Lol OP should limit his self from squandering money because we have to save money for no reason.
FIAT is a scam.
What do you mean by fiat is a acam? Are you aware that no matter how bad the government may be, they can never allow banknotes to be a scam because they also benefits from it, I can use my country as an attachment in these area gonna those days were some citizens uses fake fiat note and if they are been hold by any means, they will be jailed, I strongly believe that how it is every were.
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?
It's not the fiat that's hard to hold, but it's you who's having a hard time controlling your desire to be able to save money and not spend it on something that's not important. Until now, I personally still use fiat and internet banking and have not found any problems related to my spending. The point is how can I monitor my spending and still control the desire to spend on things that are not important dan that is the best way to avoid overspending.
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