Topic: How do you save your money? - page 5. (Read 979 times)

I have been saving my money for a long time since I have been began to earn. 
First, I began by figuring out how much money I spend and keeping track of my expenses.
Afterwards, I have a better idea and can organize a workable budget to begin saving money.

actually it is not me who saves the money but my wife lol, i let him handle things in financial matters though i handle the crypto investing.

but Gold? lol no way that i will choose that over bitcoin if i am to decide but of course it is my wife to choose where to put our money.

Interest in the banks are not that encouraging anymore and instead of putting most of your money if it's bound to investments then you should choose elsewhere like bitcoin.

But if you need that cash then it should stay in the banks so you have liquid asset.

Gold is really important, rich people indulge in it so much, they show how rich they are by showing golds in their ornaments, gold is very important because you can sell it anytime and easily convertible to cash I have gold and every time I need fast cash I pawn it to friends and sell it, but you should not put all your savings in Gold, there are other types of savings where you can earn decent interest on banks and Cryptocurrency depending on your risk level.

so It is ok to ask you HOW MUCH GOLD have you been holding now?

and also What are you doing in this market/community if you are a GOLD supporter?

Get out of here and go to Pawnshop or even mine your own gold who cares.

A few in the bank, more in bitcoin and the rest depends on how you predict the economy in the upcoming years.

Well actually, it became a term for me as investing rather than saving which is better because you are increasing the value of your money rather than putting it just for the inflation to reduce its value.

I just leave my excess money on crypto after all I don't want to continue on wasting it on things that aren't necessary for me and my family and I want to save as much as I could for my daughter's future.
I know crypto is volatile and the price could change anytime but it is better than keeping it on Fiat or cash that I could easily spend.

Dude you are on a bitcoin forum. The best way to save is by dollar cost averaging (DCA) into bitcoin. If you’ve put $100 a month into bitcoin for years you’d have made more money than basically any other investment there is.

Gold basically tracks sideways & that’s it.

Some of them are in form of cash due to urgency or contingent, some in bank to make payments of cards, loans etc. Some in crypto and some in shares now. Having a diversified is better and with shares and crypto being a good hit in last 1.5 years so returns are as well the higher side though risk always exists which coin or shares you hold it. 

my mother always taught me to save assets in gold, the advice of the old people must be to invest in gold...

I never hear that there are people who get rich from investing in gold, but I hear a lot of people who invest in crypto and stocks get rich. I know what you mean is good but gold is a very stable investment so young people don't like it that much.

Yes Gold is a good investment I have a gold ring and necklace and it's a big help in times of need like when you are in an emergency you can pawn it to a friend or a pawnshop, gold and Cryptocurrency are two different kinds of savings, there's volatility in Cryptocurrency compared to Gold but saving your money in Cryptocurrency at the right time will yield you a good profit.

I sometimes imagine what will happen if everyone rushes to buy real physical gold... the price will rise and other industries that depend on gold for making things will have to pay more to buy Gold.  By the way, our population is too high for gold usage to be sustainable when most people start having and using them regularly.

What do you do if you have lots of gold in times of scarcity or during serious crisis and no one has anything to sell to you in exchange for the gold? Do you eat the gold?
From my calculations, the problems I highlighted above can be solved or prevented with Bitcoin or better cryptocurrency. You can have secret locations of foods you hide somewhere encrypted and stored safely in decentralized manner for future use. You can use your cryptocoins to buy foods hidden in similar manner from other members within your local (or even international) network.
If you want, your private keys can be printed on precious metals like gold or something physical that can preserve it... and stored, given to someone as gift or Sold. People could also have the secret info of where the foods or other basic goods are located to unlock and pick them up.

So, I would recommend having basic good things that you can survive on with your community if you are cut off from the rest of the world. Foods, water filter, things for filtering the air (like mask,), herbs, first aid equipment, couple of modern gadgets, mosquito nets, etc. This can all be hidden safely and their secret locations saved physically and on your devices... You can give/sell to others the locations where they can find the hidden goods for their survival.    
Wish this could be solved in "cave man's way" but you need to consider others who may be too used to modern tech.

Saving is not an option anymore in my country. For years we have now interest rates at 0% and there is even a negative interest rate on your savings if you have too much money. The only risk free alternative is buying money market funds that invest in government bonds. But here you need to pay fees, so if you leave your money for less than 2 years in such funds the interest you get will be lower than the buying and selling fee. And this is everything before inflation. Once taking inflation into consideration there is no way to make any money from saving. We need to go into investing if we want to save money.

When you have a good idea about your monthly expenses to save money, it is better to create a budget to plan the expenditure. Try to save a little money from your daily budget be aware of the additional costs and may deposit separate funds in the savings fund for emergency financial needs also don't forget to set aside some money for regular expenses but not every month. For example it is necessary to spend regular money for the maintenance of the car.

You are wrong. The money I have in savings is just for emergencies, it's like insurance. If you pay insurance you are losing money (on average), otherwise insurance companies would be bankrupt. I don't care about de depreciation of my savings. If needed, I will put more for emergencies, buy my investments compensate by far that depreciation.

So no, and the answer is not gold. Much better BTC.

well kinda luxurious but that is much better than investing in gold.

gold is good but we cannot rely on this metal for life as the world nowadays is relying in virtual and that includes  bitcoin and territories

I save my money on my bank but not in a very big amount but I save my money on the crypto form. I buy gold and I already do that by buying at a minimum amount. If I can make a lot of money from the next bull run, maybe I will invest by buying a house and renting it to get extra money monthly. But having a crypto investment still be my focus.

Yeah! I agree with that. Real Estate properties are still the best investment i can say. So after I purchase a lambo , I will purchase more real estate properties.

Lol , GOLD? no way because i rather buy real estate than putting my money in something that can be stolen from me.

Yeah i am holding some of my money in banks now and others are in crypto while some part stays in fiat inside our bolt.

But sooner when those are enough, i will purchase land to use as agricultural farm and will be my biggest investment ever.

After you have taken out the cash you need for personal use and the one you use for your investments, how do you save the remaining ones for that rainy day?

Do you leave it in a savings account or fixed deposit? WRONG. Inflation will depreciate the value of your money.

Do you use it to buy stocks from the stock exchange? Not so good. Stock market crashes regularly and de-value the worth of your stock.

Do you put everything into your crypto wallet and use everything to buy cryptocurrencies? Not the best idea, cryptocurrencies are very volatile and can lose value as fast as they can gain it.

So what do you do?

The answer is…..GO GOLD.

Gold is as old as modernity, but despite how long it has been around us, it has never lost its importance or value. You may wonder what is it that gold has that should make it a better means of saving your reserve cash?

It has all the qualities that all the other forms of saving your money have and more. It is a form of investment, it appreciates, and it can be converted to cash easily.

However, what stands it apart is just one word: Stability. Gold does not fluctuate in value as all the other assets and investments do. Rather, it grows stronger when the market is in crisis and remains relatively stable when the market is bullish.

So go on, make a move. Secure your hard-earned money in gold. If you do not know how to go about it, use your search engine and find out more about gold investment and how to benefit from it.