Growing Money is Knowledge - page 2.

KaliLinux

hero member

Activity: 1344

Merit: 565

Quote from: ?? on ??

You shouldn't be keeping money it's a bad behaviour, the difference between a rich personnel and a poor person is rich people don't keep their money in the bank or at home, they use their money in various part of good investments, rich people don't have money at hand that's why they don't lend money to anyone, it's always invested 24/7.

Money making more Money Wink

Some people thinks it is the amount of cash you are holding in the bank accounts that determine how rich you are. Your money should be invested so that you are earning more. It is your Investments put together that actually determines how much you are worth, not your money in the Bank, which could be depleted by Inflation anyway.

Russlenat

hero member

Activity: 2716

Merit: 904

Quote from: ?? on ??

If I had seen this message in the past years, my direct answer would be yes, keeping the money is a very good thing. But now when I look at the wars and tensions around the world, saving money in this period is a huge mistake. Because there is a serious inflation problem around the world right now. For this reason, all the money you save in the bank or personally is melting away in the face of this inflation. Because the value of money is decreasing day by day. The house and cars you bought for a certain price yesterday were almost doubled. Therefore, in this period, it is better to make a profit by investing your money in some way or by converting the money in some way.

For some people who have no ideas about investing, keeping money is the safest thing to do because they think that will ensure their future. But that is not the case right now as everything you have saved might be insignificant in the future as their value will keep on depreciating due to high inflation. To avoid it from happening, never focus on saving alone this time as investing a portion of it will give you secured profits in the future. As long as you are only investing in good and reliable projects, your money will keep on growing as well as you also gained consistent knowledge out from your investments.

Baofeng

legendary

Activity: 2576

Merit: 1655

Quote from: Famous Grouse on October 28, 2022, 04:45:41 AM

I learnt recently that if you know the purpose of something and pursue it, excellence is inevitable.That's why couldn't see this alone because what is this wisdom?
👇
Making Money is action.

Of course, if you have the knowledge but if you don't take actions then how can you grow your money. So we should take action, and whether we make the correct decision or not, it's up to us to adjust.

Quote from: Famous Grouse on October 28, 2022, 04:45:41 AM

Keeping Money is behavior.

Attitude, we need to be very positive that we can make our money grow continuously and have multiple sources. So we will not rest, we will go on and find other ways to make more money.

Quote from: Famous Grouse on October 28, 2022, 04:45:41 AM

Growing Money is Knowledge.

And as we mature and gain knowledge and wisdom, then we should execute it with perfection.

I don't think that keeping money is a bad behavior too, what is not good is that you enslaved yourself with money that it become your focus. Look at how the billionaires are, they have money and yet they go on sharing and become philanthropic.

So you just have to balance everything in life, you will have a good life and your family if you have good source of money flowing.

And the best thing is that we have crypto now that will have us that opportunity.

uchegod-21

hero member

Activity: 1036

Merit: 625

BTC, a coin of today and tomorrow.

Quote from: ?? on ??

You shouldn't be keeping money it's a bad behaviour, the difference between a rich personnel and a poor person is rich people don't keep their money in the bank or at home, they use their money in various part of good investments, rich people don't have money at hand that's why they don't lend money to anyone, it's always invested 24/7.

I agree with you I also know that there is some kind of relief when you have savings where you can lay hands on in terms of emergency but this time around with the level of inflation and some kind of problems around the world I do not think that saving is a good option. The currencies of the world are collapsing day-in-day-out. If you save today in 2 years time your purchasing power will be reduced because of inflation that is why some persons will decide to invest their money. And the same way not all Investments are genuine even the cryptocurrency we are talking about most times it goes to bear and everybody will be crying tears.
Just save little and invest more.

btc_angela

hero member

Activity: 2660

Merit: 551

Maybe what you mean is investing our money to grow? Yeah, if I could have this knowledge when I was still very young, I could have made money already.

Nevertheless, it's a long arduous process for the money of us. Because when we are young, we really don't know how to make the right decision. And what you have mentioned could be just learn thru hard experience. So I guess my advise for the young out there is just to really find something that they will like to invest, like crypto, stocks, bonds and anything that will grow their money overtime.

dwminer1

hero member

Activity: 1848

Merit: 530

The OGz Club

Quote from: Jackl87 on October 28, 2022, 08:11:50 AM

Quote from: ?? on ??

You shouldn't be keeping money it's a bad behaviour, the difference between a rich personnel and a poor person is rich people don't keep their money in the bank or at home, they use their money in various part of good investments, rich people don't have money at hand that's why they don't lend money to anyone, it's always invested 24/7.

I don't think i fully agree with your statement. Of course at the moment with the very high inflation the money that we have on the bank account basically loses a little bit of value each and every day that we let it sitting their idle. That being said i think you should always have a certain amount of wealth as FIAT available on the bank for emergencies because you can just never know what happens in the future. So to say "don't keep your money in the bank, invest it instead" is a very risky advice in my opinion. Of course if you have money that you can afford to lose then you can or should use it for an investment instead of just letting it sit on the bank, but you should never do that with money that you can not afford to lose.

Very wise comment and I must admit that I personally follow similar rules when investing. In the bank I keep the equivalent of 3-4 months' salaries, so that in the event of unexpected problems at work to have security in cash and I invest everything more than that. It is important to remember to diversify your investments. I definitely do not recommend investing all your funds in something as volatile as cryptocurrencies.

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: ?? on ??

You shouldn't be keeping money it's a bad behaviour, the difference between a rich personnel and a poor person is rich people don't keep their money in the bank or at home, they use their money in various part of good investments, rich people don't have money at hand that's why they don't lend money to anyone, it's always invested 24/7.

I don't think i fully agree with your statement. Of course at the moment with the very high inflation the money that we have on the bank account basically loses a little bit of value each and every day that we let it sitting their idle. That being said i think you should always have a certain amount of wealth as FIAT available on the bank for emergencies because you can just never know what happens in the future. So to say "don't keep your money in the bank, invest it instead" is a very risky advice in my opinion. Of course if you have money that you can afford to lose then you can or should use it for an investment instead of just letting it sit on the bank, but you should never do that with money that you can not afford to lose.

Famous Grouse

newbie

Activity: 42

Merit: 0

I learnt recently that if you know the purpose of something and pursue it, excellence is inevitable.That's why couldn't see this alone because what is this wisdom?
👇
Making Money is action.
Keeping Money is behavior.
Growing Money is Knowledge.

Topic: Growing Money is Knowledge - page 2. (Read 292 times)