Get, Save & Invest. - page 7. | Bitcointalksearch.org

jrrsparkles

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Quote from: Rruchi man on May 05, 2022, 01:45:39 PM

Get Money - Save money - Invest money.
Follow the cycle and don't stop half way.

Get Money- Popular opinion is that you need money to get money, any contrary opinion?
Once you have started getting money the next objective should be how to get more.

Save money- To save money is good, another popular opinion to support this is that , the money you save today will save you tomorrow.
The problem however results when you just keep saving money pointlessly without any plans on how what to do with it, The worse of all is saving money in fiat banks, that money will loose value in no time at all.

Invest money- This for me is the last stage in the cycle that creates more money for you to be able to get more money. More money betters ones opportunities.

Follow the cycle, don't stop halfway at saving money.

Many people don't know what is the real investment, they choose wrong and lose their money so in my opinion first of all they should plan and get knowledge about the investment before risking their money into something.

Getting money is the tough task as well, because its hard and it takes lot of time to save enough money.

Baofeng

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Quote from: Furious 7 on May 07, 2022, 02:38:14 PM

Quote from: Cling18 on May 07, 2022, 10:35:15 AM

Earn enough funds so you'll be able to save and when you have enough savings, you'll also be able to allocate enough funds for investment. If you want to invest then you have to make sure that you can handle and manage your funds wisely. One common mistake of some people is that they spend too much and don't save for the future and they just borrow so they could invest. Investment is important preparation for the future so we have to value it.

But in this case it depends on everyone, usually, even though on average everyone always wastes.
this is indeed quite natural because it is human nature which is indeed very difficult to change because wasteful and greedy habits are natural traits that have always been in fact.
It's very difficult to do self-discipline, especially regarding finances

It depends on how you are saving that money, I mean it is on bank or just put in it crypto and let it sleep for many years?

Yeah, of course it's human nature to used money to satisfy our needs. But if you are that kind of person that look in the future and have a good life for you and your family, then it's better to invest long term.

qwertyup23

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Quote from: Rruchi man on May 05, 2022, 01:45:39 PM

Get Money - Save money - Invest money.
Follow the cycle and don't stop half way.

Get Money- Popular opinion is that you need money to get money, any contrary opinion?
Once you have started getting money the next objective should be how to get more.

Save money- To save money is good, another popular opinion to support this is that , the money you save today will save you tomorrow.
The problem however results when you just keep saving money pointlessly without any plans on how what to do with it, The worse of all is saving money in fiat banks, that money will loose value in no time at all.

Invest money- This for me is the last stage in the cycle that creates more money for you to be able to get more money. More money betters ones opportunities.

Follow the cycle, don't stop halfway at saving money.

Just to add on this very important list, only invest the money that you are willing to lose. Given that the nature of cryptocurrencies that they are volatile, expect that its price may change at anytime without any given notice. Lots of people who joined the bandwagon did not understand the nature of BTC, in which they complained when they saw that their investment decreased on its value within like a week.

Before investing, try to understand the dynamics and the fundamentals of it. Without even knowing what you are investing on, you would most likely suffer at the end and pull-out your investments in the long-run without even profiting.

btc_angela

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Quote from: Wexnident on May 07, 2022, 11:17:31 AM

Kinda sad since most people get stopped at the "saving" part since the money they obtained is basically used to pay whatever bills, food, or debts that they have. Not to mention that even if they save, I don't think they'd invest (they'd probably much rather stash it in their bank accounts or something), a lot of people fear that risk of "investing" since it seems like they're just going to end up losing the entire savings they earned for god knows how long. Not that I can blame them, I was the same at first. Just that I guess I had more opportunities since I was opened up to the "investing" idea part when I was in late high school. (took me a few years before I was able to invest itself though).

Yeah, it's not that easy as it sounds, it will take a lot of financial adjustments, writing down the bills, how much you are going to pay, and then budget for food etc. etc. and then what's left is for investment.

Unless you are lucky that you always win on your trade and so you have money for another extra investments. But if you learn how to control everything, then maybe you will succeed in investing in crypto space.

yhiaali3

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Quote

Get money - save money - invest money.

Yes, this is the money cycle in theory, but it is never easy to apply these simple principles that seem so easy when you read them. I will present some of the problems facing the novice investor:
First get the money: It is never easy to get money for someone who basically has no capital, many people stop at the first step because they can't get the money.
Second, saving money: At this stage, a person may become afraid of losing the money that he saved with great difficulty, so he continues to collect money and hesitates to enter into any investment.
Third, investing money: It is also possible for a person to become greedy at this stage, as he enters into losing investments as a result of his greed to achieve great profits in a short time, and in this case he can be easily deceived by SCAM projects that offer him big dreams.

Furious 7

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Quote from: Cling18 on May 07, 2022, 10:35:15 AM

Earn enough funds so you'll be able to save and when you have enough savings, you'll also be able to allocate enough funds for investment. If you want to invest then you have to make sure that you can handle and manage your funds wisely. One common mistake of some people is that they spend too much and don't save for the future and they just borrow so they could invest. Investment is important preparation for the future so we have to value it.

But in this case it depends on everyone, usually, even though on average everyone always wastes.
this is indeed quite natural because it is human nature which is indeed very difficult to change because wasteful and greedy habits are natural traits that have always been in fact.
It's very difficult to do self-discipline, especially regarding finances

MiF

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Quote from: Rruchi man on May 05, 2022, 01:45:39 PM

Get Money - Save money - Invest money.
Follow the cycle and don't stop half way.

Get Money- Popular opinion is that you need money to get money, any contrary opinion?
Once you have started getting money the next objective should be how to get more.

Save money- To save money is good, another popular opinion to support this is that , the money you save today will save you tomorrow.
The problem however results when you just keep saving money pointlessly without any plans on how what to do with it, The worse of all is saving money in fiat banks, that money will loose value in no time at all.

Invest money- This for me is the last stage in the cycle that creates more money for you to be able to get more money. More money betters ones opportunities.

Follow the cycle, don't stop halfway at saving money.

This is a good strategy specially for now that btc is on dip there is a big opportunity of big return of profit if we are going to invest today. I see bitcoin is strangling at the 35k$ price however i am still hoping that this dropping of price will not continue and i hope this os only a short correction, buy guys and hold dip is an opportunity we will not loss if we didn't sell at loss.

josgandosbro

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Bitcoin is best savings investment. So bitcoin is future digital currency it any time and any where to use. Easy to handling the bitcoins. But before use the bitcoins Frist you will know the bitcoins information. Bitcoin is furut currency. So this good investment and helpful to future growth
.

Wexnident

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Kinda sad since most people get stopped at the "saving" part since the money they obtained is basically used to pay whatever bills, food, or debts that they have. Not to mention that even if they save, I don't think they'd invest (they'd probably much rather stash it in their bank accounts or something), a lot of people fear that risk of "investing" since it seems like they're just going to end up losing the entire savings they earned for god knows how long. Not that I can blame them, I was the same at first. Just that I guess I had more opportunities since I was opened up to the "investing" idea part when I was in late high school. (took me a few years before I was able to invest itself though).

Cling18

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Earn enough funds so you'll be able to save and when you have enough savings, you'll also be able to allocate enough funds for investment. If you want to invest then you have to make sure that you can handle and manage your funds wisely. One common mistake of some people is that they spend too much and don't save for the future and they just borrow so they could invest. Investment is important preparation for the future so we have to value it.

Rockstarguy

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Quote from: ropyu1978 on May 07, 2022, 08:25:19 AM

earn, save and invest I totally agree with your review, because most of us including myself, are not very smart to save money, most of us are only good at spending money, investing is the best way that we should apply, because today's digital of course we also have to be wise in looking for opportunities, let money work by itself, without having to drain our energy we can also get income.

Not knowing how to save is one of the most difficult things to do in life, but one have no choice just to adjust to learn how to save. Their some height we need to reach in life it is easy to get to that height by savings . I know its not very easy to start saving especially when one is not having much income , it can only be achieved by making good decisions on to spend and be discipline when it comes to money spending.

ropyu1978

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earn, save and invest I totally agree with your review, because most of us including myself, are not very smart to save money, most of us are only good at spending money, investing is the best way that we should apply, because today's digital of course we also have to be wise in looking for opportunities, let money work by itself, without having to drain our energy we can also get income.

uelque

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If only it is as easy as it sounds especially for those people classified as lower class. We all know that cost of living in this world is very high and not everyone can afford to save money or even get a job sometimes that pays well. But yeah, I still agree that we should not stop halfway and just keep on getting money, save if possible and learn how to invest wisely because that is our only option to have a better life. Although investing is very hard as well, because it is really hard to figure out whether our investments are right or not, or whether if it can give us a decent return in a few years we should never stop. We should always keep on learning and figuring things out and from there, we can successfully execute those cycle get, save and invest.

Fesatmas

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Quote from: Rockstarguy on May 07, 2022, 01:17:22 AM

Savings can be difficult for many people especially when the demand of their needs is equal to their income, even if one tries to saves it is not certain that if problem comes that requires money one won't run back to the savings to temper with it. This plan of save and invest works for those who are having good amount of income, they can save money and not going after the savings at anytime soon, they can think of making investment without any stress.

This is indeed a big problem for some people, they are not unwilling to save and invest. But the problem is that their expenses exceed their income. Indeed, it can still be overcome by saving, prioritizing primary needs and not spending on things that are not so important.
The second problem arises after starting to save or invest, sometimes we have to lose because of a sudden need.

doomloop

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Quote from: _act_ on May 06, 2022, 04:42:22 AM

Quote from: rossjamie on May 05, 2022, 03:08:27 PM

If I save/invest my money in fiat, I rather use a compound interest deposit which is the best solution.

Be it simple or compound or whatever interest it is, that does not change a wolves to be a sheep. Fiat is fiat, no matter the saving type you used, you will already be losing as the fiat devalues. Definitely the government in conjunction with the central bank will reduce fiat value.

The only way that you could make a profit is if you earn more fiat in a single year than the inflation shows. Which means if the inflation is 7% and to make sure you are doing great lets add a bit more, if you make 20% return then it is not that bad.

This is why I am not against staking some of the stablecoins as well, because it could be providing a good return, but usually not enough to overcome inflation so I do not do it personally but understand the ones who do it. On the other hand crypto both goes up in the long time and you stake it so you have more of it as well, combine the two together and you could make so much more so why pick fiat?

so98nn

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Quote from: Rruchi man on May 05, 2022, 01:45:39 PM

Save money- To save money is good, another popular opinion to support this is that , the money you save today will save you tomorrow.
The problem however results when you just keep saving money pointlessly without any plans on how what to do with it, The worse of all is saving money in fiat banks, that money will loose value in no time at all.

This one is literally should be excluded from the plan of execution. Any money that is sitting in your bank account is just going to make bank richer and richer everyday. With the inflations at its peak and central banks imposing higher business interest rates in rebate, we gonna make them rich and our money is going to be slaved.

All we get back is 4% or max 5.xx% if person is senior citizen and he has no idea what the heck he is going to do with that much interest money. Lolz.

The worlds changing faster, we need money to work for us and create multiple income sources. Share markets, stocks, bonds, MF's, there are so many things really! Wanna save? Save into them!

Davidvictorson

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Quote from: Rruchi man on May 05, 2022, 01:45:39 PM

Get Money-
Once you have started getting money the next objective should be how to get more.

In my opinion, this is basically what venture capitalists do. They first figure out a sustainable way to get the money and keep getting it.

Quote

Save money-
The worse of all is saving money in fiat banks, that money will loose value in no time at all.

Then they do what I call "temporary hodling". Because they know that their money is useless in the bank, they hodl temporary in whatever form until they get a good pitch and decides to invest. Then the cycle repeats itself. This my strategy. Although, the investment stage is most critical because one silly mistake and you're back to square zero.

Rockstarguy

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Savings can be difficult for many people especially when the demand of their needs is equal to their income, even if one tries to saves it is not certain that if problem comes that requires money one won't run back to the savings to temper with it. This plan of save and invest works for those who are having good amount of income, they can save money and not going after the savings at anytime soon, they can think of making investment without any stress.

iv4n

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Quote from: Jawhead999 on May 07, 2022, 12:17:36 AM

Great in theory and bad in realization.

After you get money, do you think you don't have any daily expenses e.g. food, transportation, maintenance, health, and medicine if you sick. The thing is most people doesn't earn a lot money, they only earn for his daily life and doesn't have anything left to save. Even after you save your money, you'll faced many problem and it force you to use your save money. Now talking about invest money, investment doesn't always increase and you'll panic if the market goes dump.

You have a point, it's great in theory, but when it comes to the realization that can be a hard task! The ones who have extra cash can save/invest, but many can't allow themselves to think about that! Most people don't earn enough for basic needs, and when someone is always short with money how can he even think about saving/investing anything! Even harder for them to invest in for the long run! They are not in the situation to wait patiently!
And I guess we all know that saving/investing is usually the best when it's for the long run! Short-term investments and quick profits are risky, and making a profit in that way requires nice capital, and I guess many poor people don't have basic knowledge about these things!

sayaya17

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Quote from: lombok on May 06, 2022, 07:25:17 PM

What the OP stated is the basis of financial management where these steps are safe play.

In life we need money for the necessities of life, and the next step is to manage money after we get it. Everyone knows this, but not everyone can save and invest.

It is true that the majority of people already know the steps mentioned by the OP are ways to make us safe in life. Because it's a basic step that
has often been explained by economists, motivators and also our parents. But the problem is that people rarely carry out these steps correctly,
there are many reasons why people don't take these steps. There are people who have a high lifestyle, eventually their income always runs out
and cannot save and invest. There are also those who have very low incomes, and that makes it difficult for them to save and invest, because they
don't have enough for daily expenses. And lastly why people don't save and invest, because they lack knowledge and education about how to manage
income wisely.

It means to return to ourselves, if we want to be successful people and have a bright future. The key is how to manage our income properly. Actually,
whatever our income, if used properly, will definitely be able to make our lives for the better. So it's not a big or small matter of income, but how
do we manage the income we get wisely and correctly.

Topic: Get, Save & Invest. - page 7. (Read 1191 times)