Topic: Get, Save & Invest. - page 8. (Read 1191 times)

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.

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.

This is superficial but I do love the idea of helping others.


And see yourself broke in no time  .

---

I can add no more to OP's statement.  If we follow the cycle he suggests, and become successful on the third phase, we can hit financial freedom for sure.  Both the first and the last phase is the hardest part of that cycle so we better put a really hard thought on how we will approach them.

Instructions unclear: put everything in shiba.

Money is like a messenger. It delivers the exact message it is sent. It's a typical example of garbage in and garbage out. Getting is the first step in the money cycle, I think  investing is the second then save so you can  invest more. Saving is like tying down funds and once a fund is tied down it might be spent on something else other than investment.

Do not forget to Take Profit after Invest Money so you will have more money which will give you ability to Get Money and Save Money.
Yes, the process will be like that for the investor and will not stop.
Saving in the bank will not give you big return in the future but if you save in bitcoin, you will have the opportunity to get big return in the future.
It is about how to open your mind to use the other option to make more money.
The more opportunities you have, the more you can make money.

Well, I agree that you need money to get more money.
On the other hand though even you have the money, you will only get more money if you know how to grow that money you have.

The worst part is you are saving your money in fiat for no reason.
I have been saving fiat money in my bank but it has a reason why I put some on my bank account. It is my emergency funds if something bad happens. The problem with some bank users is that, they are putting their money in their account for no reason. They don't know that inflation is eating their money and how much is the interest of a bank? Here in our country the average is around 1% per annum which is insane.

I don't know what my life is right now if I didn't learn how to invest. I might still be depending on my 8-5 work.
Crypto is the reason why I learned how to invest. It is the reason why I'm into investing right now. Because of crypto, I tried to learn to invest into other assets like stocks and bonds etc. Rich people have investments either stocks or business etc. and no employee became rich just because of working from 8-5 so investing is the key to financial freedom .

There is nothing wrong with saving money as long as you have purpose into it but the worst thing to do in your life is to not invest at all for the long term.

I think it's also good to highlight the various means one can acquire the money we are talking about, we can't just keep on insisting on getting the money because there are many means one can derive to get money both the good and the bad, i will suggest few means one can adopt to source for financial aid:

engage on menial jobs
solicit for help from family or relatives
develop a skills that can be saleable
discover a problem and provide a solution

And lastly, i will suggest not to ever engage in taking loan for a crypto startup, because the risk their could be a great challenge especially when you don't know much about how it's been done.


We cannot advise people to invest money just like that, on what are they going to invest on?

We have to understand the difference between an asset and a liability in this regard, bitcoin is a good source of an investment for an adequate store of value if used as an asset, try to avoid many altcoins (shitcoins) because they resulted to fake projects at the end and the risk involve is higher than the benefits to get there. Therefore bitcoin is most recommended in this aspect of digital currency while real estate and gold could be an alternative for physical asset investment.

Saving aren't pointless and there is no specific plans on how to spend it required for you to start saving because basically savings are supposed to be for emergency purposes. You'll never know when will you get sick and temporarily halt your business or monitoring your investments because you're in a hospital care and that fund you have saved will serve it's purpose while your profit is temporarily halted.

A wise financial advise would be, always have a separate allocations for savings and investments.
Once you have emergencies, you don't need to get everything from your investment profit because you have emergency funds.

OP,you sound like one of the "make money online" gurus,who is teaching really basic stuff(common sense),but it's being presented as some kind of deep and groundbreaking wisdom.
You sound like the guy,who says to a homeless man "Don't have a home?Just buy a house."
Don't have money?Just get money-save money-invest-money.
The real problem is how to make money,not how to save and invest them.A poor/unemployed person doesn't care about saving/investing,because he doesn't have money to save and invest.

Knowledge is the power that we need. Many have money but don't have investment knowledge or plan to grow the money. I think the best form of saving is investment, if you invest your money it begins to work for more money meaning your capital is still there available (as money you suppose to save) and has accumulated more profit on it. Not holding money physically but saving it through investment is a good business knowledge.

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 fiat will increase in number as per the interest agreement between you and the bank you invest, but the value of the total money you invest plus the profit made in years will not have the buying power of the total money you invested, which means that it is loss and the banks are just using the interest to deceive because it is not what is happening in real life.

Zero arguments, but all of this cycle will not start not end without some good traits. As investing is not about making the right decision or in the right direction. You have really do need a laid out plan, strategy, discipline, consistency,ambitions and drive else above mentioned makes no sense, you need too apply some guides and orientations...

Sometimes you can get money without money and therefore you should not be restricted to get money - save money - invest money to get more money.
As for the ways to earn money, it does not stop at the job or hard work, but you can earn money the more information you have.
Save money is the hardest part because today's culture is consumerism par excellence, and who cannot save money will reduce the return on investment in the future.
As for investing, it is the part where you have several options.

I agree, majority has a debt to be cleared of and those that can't go on with their next chapter and can't save that much are those that are in debt. There are folks that even they can't bear and pay the debts, they're still making use of their credit cards so the interest are compounding and that's a bad debt.
With what businessmen does, they're acquiring good debts because it's helping them to have additional capital for their business but this isn't for everyone.

well, this simple scheme will actually lead us to success if we really pay attention to it. however, many people who get profit from their business, but they don't know how to save it properly, and eventually end up in bankruptcy. a lot of people can make money, and save it, but keep it with Fiat, well, we know that the value of the currency is getting less and less, so, it's totally right to misplace it 100%. So, get some profit, save some and invest some, I think it's a very good way for now. although there are still many things wrong with this way, such as investing in the wrong place, but if we look into it, then we may find the right way. To be honest, I am currently starting to implement this scheme, but it is very difficult to do and takes time.

What the thread creator says is fine for those who have no idea about personal finance, but it is very basic. The only thing I would add is a point about getting rid of debts, especially consumer debts, and especially if they have a high interest rate, such as credit card debts. I would not recommend investing with credit card debt at 20% interest.

Saving amount is the only money that you could really able to do so after all those expenses and need you would really need to prioritize.Its impossible that you wont really be putting emphasis into this area

since this is the thing that needs for us to survive and if we do have chance to save up or do have extra then thats the time we would really be making out such decision to save up whether
for emergency or for investment purposes later on.

If you do know on how to roll those funds for investment then you could possibly able to look for another source of income or would be supporting aside from your salary with your main job.

The basic need of knowledge about the trading will be learned.Before of investing of huge money,you need to save in your bank accounts.Without saving of huge funds,you can’t inverse in big project.Based on the money you had invested,you will get profit from it.If you had invested huge amount of the dollars,the profit percentage also increased.Then the amount of profit also increased.

Saving and investing will always save us from future's uncertainties, but it does not mean that it should always be our top priority. We have to cater first our basic necessities and health priorities before jumping into saving and investing. And when we think we are financially stable enough, then we can start saving and investing. The process may be tough and hard at the start, but as long as you enjoy each processa and milestone in your life, then success will always be possible in the end.