Topic: How to save money. - page 162. (Read 345824 times)

Quote from: olcaytu2005 on May 21, 2015, 02:25:41 PM

if you buy something -especially expensive things like house, land, car etc..- with loan you can save money . Coz everyone tend to trifle away their money .

With loan? Haha that is a nice shill for the banksters.

The premium thata bank earns on loan usually is more than 200%. If you buy a 20.000€ house you usually have to pay back like 60.000€ after 20 years.

It's a bit sad that you would want to give away that much, the inflation will not be bigger than the interest you pay, so you pay way too much that way.

For a house, it'd be near impossible for most to buy without a mortgage. HOWEVER, that should not prevent you from coming up with as big a down payment as possible. If you can't save 20% for that...you may want to reconsider buying a house. Nothing is cheap when it comes to house repairs, even if you can DIY...

As for cars? Psssh, I've never financed any vehicle (car, motorcycle, etc) and never will. Again, a cash reserve GREATLY helps when car shopping. There are always deals to be found from people who are looking for cash

I`m an economist i understand that the immediate value or goods is preferable to a later one. Especially if the economy is inflationary.

But still the banksters earn way too much premium.

Think of this:

For a 20.000€ loan for 5 years on 1% interest you should pay in total: 21,020 € as / interest + perhaps 1% extra comission so that the bank should profit. So in total about: 21,220€. If the inflation is below the interest rate, about 0.5%, then the bank doesnt lose money and you are better off.

However in reality, you pay about 30000 € atleast + some down payment.

So either the government inflation number is not ok ( like when did the government told the truth, the inflation is about 8%) or the banks are over the top greedy.

Perhaps the combination of both.

I think you should reconsider how a bank is able to give out a loan; simply they can create money. Do you think all the money they lend out is from people who put their money in the bank? No. This balance is never 100% and it never will be, although this rate have been increased in many countries since the crisis. Do you know what will happen if everyone takes out their money of a bank? Bankrun!

A bank will loan out 20.000 by simply "creating it" in their systems --> and transfering it to your bankacccount. What they get in return, is a monthly amount of REAL money. What did they have to do for that? Not much. It's just not as easy as meeting the inflation rate.

That only shows a bigger amount of greed. Because they not just calculate in the inflation / time value + they put on an arbitrary comission , but it's more funny that they dont even lend out their own money.

So they calculate all that, like they would if they would lend out investors money, when in fact they just lend out printed money.

Yes it's hilarious, but what do you want, until this fractional ponzi scheme persists, we have nothing else.

0% reserves and -0.75% interest rate it's just the tipping point of GREED! Cheesy

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Quote from: GreenStox on May 21, 2015, 02:57:02 PM

Quote from: MF Doom on May 21, 2015, 02:50:15 PM

Quote from: olcaytu2005 on May 21, 2015, 02:25:41 PM

if you buy something -especially expensive things like house, land, car etc..- with loan you can save money . Coz everyone tend to trifle away their money .

With loan? Haha that is a nice shill for the banksters.

The premium thata bank earns on loan usually is more than 200%. If you buy a 20.000€ house you usually have to pay back like 60.000€ after 20 years.

It's a bit sad that you would want to give away that much, the inflation will not be bigger than the interest you pay, so you pay way too much that way.

For a house, it'd be near impossible for most to buy without a mortgage. HOWEVER, that should not prevent you from coming up with as big a down payment as possible. If you can't save 20% for that...you may want to reconsider buying a house. Nothing is cheap when it comes to house repairs, even if you can DIY...

As for cars? Psssh, I've never financed any vehicle (car, motorcycle, etc) and never will. Again, a cash reserve GREATLY helps when car shopping. There are always deals to be found from people who are looking for cash

I`m an economist i understand that the immediate value or goods is preferable to a later one. Especially if the economy is inflationary.

But still the banksters earn way too much premium.

Think of this:

For a 20.000€ loan for 5 years on 1% interest you should pay in total: 21,020 € as / interest + perhaps 1% extra comission so that the bank should profit. So in total about: 21,220€. If the inflation is below the interest rate, about 0.5%, then the bank doesnt lose money and you are better off.

However in reality, you pay about 30000 € atleast + some down payment.

So either the government inflation number is not ok ( like when did the government told the truth, the inflation is about 8%) or the banks are over the top greedy.

Perhaps the combination of both.

I think you should reconsider how a bank is able to give out a loan; simply they can create money. Do you think all the money they lend out is from people who put their money in the bank? No. This balance is never 100% and it never will be, although this rate have been increased in many countries since the crisis. Do you know what will happen if everyone takes out their money of a bank? Bankrun!

A bank will loan out 20.000 by simply "creating it" in their systems --> and transfering it to your bankacccount. What they get in return, is a monthly amount of REAL money. What did they have to do for that? Not much. It's just not as easy as meeting the inflation rate.

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Quote from: MF Doom on May 21, 2015, 02:50:15 PM

Quote from: olcaytu2005 on May 21, 2015, 02:25:41 PM

if you buy something -especially expensive things like house, land, car etc..- with loan you can save money . Coz everyone tend to trifle away their money .

With loan? Haha that is a nice shill for the banksters.

The premium thata bank earns on loan usually is more than 200%. If you buy a 20.000€ house you usually have to pay back like 60.000€ after 20 years.

It's a bit sad that you would want to give away that much, the inflation will not be bigger than the interest you pay, so you pay way too much that way.

For a house, it'd be near impossible for most to buy without a mortgage. HOWEVER, that should not prevent you from coming up with as big a down payment as possible. If you can't save 20% for that...you may want to reconsider buying a house. Nothing is cheap when it comes to house repairs, even if you can DIY...

As for cars? Psssh, I've never financed any vehicle (car, motorcycle, etc) and never will. Again, a cash reserve GREATLY helps when car shopping. There are always deals to be found from people who are looking for cash

I`m an economist i understand that the immediate value or goods is preferable to a later one. Especially if the economy is inflationary.

But still the banksters earn way too much premium.

Think of this:

For a 20.000€ loan for 5 years on 1% interest you should pay in total: 21,020 € as / interest + perhaps 1% extra comission so that the bank should profit. So in total about: 21,220€. If the inflation is below the interest rate, about 0.5%, then the bank doesnt lose money and you are better off.

However in reality, you pay about 30000 € atleast + some down payment.

So either the government inflation number is not ok ( like when did the government told the truth, the inflation is about 8%) or the banks are over the top greedy.

Perhaps the combination of both.

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Quote from: olcaytu2005 on May 21, 2015, 02:25:41 PM

if you buy something -especially expensive things like house, land, car etc..- with loan you can save money . Coz everyone tend to trifle away their money .

With loan? Haha that is a nice shill for the banksters.

The premium thata bank earns on loan usually is more than 200%. If you buy a 20.000€ house you usually have to pay back like 60.000€ after 20 years.

It's a bit sad that you would want to give away that much, the inflation will not be bigger than the interest you pay, so you pay way too much that way.

For a house, it'd be near impossible for most to buy without a mortgage. HOWEVER, that should not prevent you from coming up with as big a down payment as possible. If you can't save 20% for that...you may want to reconsider buying a house. Nothing is cheap when it comes to house repairs, even if you can DIY...

As for cars? Psssh, I've never financed any vehicle (car, motorcycle, etc) and never will. Again, a cash reserve GREATLY helps when car shopping. There are always deals to be found from people who are looking for cash

GreenStox

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Quote from: olcaytu2005 on May 21, 2015, 02:25:41 PM

if you buy something -especially expensive things like house, land, car etc..- with loan you can save money . Coz everyone tend to trifle away their money .

With loan? Haha that is a nice shill for the banksters.

The premium thata bank earns on loan usually is more than 200%. If you buy a 20.000€ house you usually have to pay back like 60.000€ after 20 years.

It's a bit sad that you would want to give away that much, the inflation will not be bigger than the interest you pay, so you pay way too much that way.

olcaytu2005

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if you buy something -especially expensive things like house, land, car etc..- with loan you can save money . Coz everyone tend to trifle away their money .

MF Doom

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I would second whoever mentioned having a cash reserve. That way if your car breaks, you have a medical expense, etc, you dont have to put it on a credit card. The way I see credit cards is you are constantly behind, and chasing the payoff amount. With cash, you are always ahead, and probably LESS likely to spend it on superfluous stuff (like most people do with credit cards)

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Quote from: BTCevo on May 21, 2015, 11:38:44 AM

Are you saying about beggar or scavenger? If you say so I ever saw both of them can saved their money to get his child going to school and even going for university and I guess now his child is already got his degree. So it depends on yourselves whether you are get your saving for real or just on saying. Btw both of them is asked by media team to join the reality show to talk about their past and how can they do that just only be beggar and scavenger

I'm not sure I understand you entirely but regardless of if some beggars or scavengers can break free of poverty there are many who can't. In fact most find it difficult especially if you're in debt though of course it is always possible but when you can barely afford to eat saving money is the last thing on your mind as you do not have that luxury.

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Quote from: Krang on May 21, 2015, 10:34:33 AM

Quote from: BTCevo on May 21, 2015, 09:28:13 AM

Quote from: deisik on May 21, 2015, 08:45:06 AM

Quote

This. Time is money.
Of course everyone, or almost everyone could be able to save one dollar from this current monthly expenses, but so what? It doesn't change anything. You would need ages to have something worth investing in, and like you said before, during this way, you'll probably need that money for something vital, which means going back to 0 and no investing for you.
Being born poor is a trap. A total scam.

The very best method to saving money is to create a Budget. Shocked

With a budget you figure out what your income is and what your expenses are.
Once you know these two things, you can look for ways to reduce your expenses or increase your income to allocate an amount of money that you can afford to save.

Well budgeting is great but some people barely have enough to feed themselves and if you have more going out than coming in then you're in real trouble and debt enslavement comes in.

If that is the problem may be they can start with have some saving first and not directly go for budgeting. Some people sure will need some saving to have enough money so they can do their things. May be they can start from a low earning first to make a good saving after that going to next level and do that step by step

How can they save when they haven't or barely got enough to survive? That was my point. People on the breadline can't even afford to save and end up borrowing just to get by then the debt enslavement cycle begins.

Only an idiot bank would hold the debt on their balance sheet. Your debt is an asset for the bank, but it's a very risky one.

So if this fiat ponzi scheme would continue, you would see people having like 1000 loans, and the current loan would pay the previous , like a cycle.

But the banks would allow you to have infinite loans, however the interest amount will always raise, so you would have to borrow more and more.

However banks would not keep those toxic assets on their balance, they would securitize it, and sell it to investors and traders for a fixed price, with some 10-15% discount, depending on risk and your other loans factor and income.

It would be a huge global ponzi scheme, but i think unless crypto currencies prevail , this is what the future will be Sad

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Quote from: GreenStox on May 20, 2015, 08:08:45 PM

However unfortunately time is deflationary (in the sense that it decreases in amount and increases in value as you get older), and if you dont spend it quickly, it will evaporate and you will lose it Grin

If people were allowed to live forever, we would have crowds of zombies purposelessly walking the streets. Just like with air, the utility of time would be next to nothing then...

This reminds me of the movie In Time

Yea exactly, some people are so dumb that they cant spend their time intelligently, life is a competition, no doubt.

Even though there are many marxists here that dont recignize it, but reality is reality, people must work with what they have, and stealing is immoral.

I saw that movie, i agree that that would be the best and most fair thing to do, use time as the basic currency, but it should be stored in a blockchain so that nobody can steal it from you Cheesy

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Quote from: Krang on May 21, 2015, 10:34:33 AM

Quote from: BTCevo on May 21, 2015, 09:28:13 AM

Quote from: BTCevo on May 21, 2015, 09:28:13 AM

Quote

This. Time is money.
Of course everyone, or almost everyone could be able to save one dollar from this current monthly expenses, but so what? It doesn't change anything. You would need ages to have something worth investing in, and like you said before, during this way, you'll probably need that money for something vital, which means going back to 0 and no investing for you.
Being born poor is a trap. A total scam.

The very best method to saving money is to create a Budget. Shocked

With a budget you figure out what your income is and what your expenses are.
Once you know these two things, you can look for ways to reduce your expenses or increase your income to allocate an amount of money that you can afford to save.

Well budgeting is great but some people barely have enough to feed themselves and if you have more going out than coming in then you're in real trouble and debt enslavement comes in.

If that is the problem may be they can start with have some saving first and not directly go for budgeting. Some people sure will need some saving to have enough money so they can do their things. May be they can start from a low earning first to make a good saving after that going to next level and do that step by step

How can they save when they haven't or barely got enough to survive? That was my point. People on the breadline can't even afford to save and end up borrowing just to get by then the debt enslavement cycle begins.

Are you saying about beggar or scavenger? If you say so I ever saw both of them can saved their money to get his child going to school and even going for university and I guess now his child is already got his degree. So it depends on yourselves whether you are get your saving for real or just on saying. Btw both of them is asked by media team to join the reality show to talk about their past and how can they do that just only be beggar and scavenger

Krang

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Quote

This. Time is money.
Of course everyone, or almost everyone could be able to save one dollar from this current monthly expenses, but so what? It doesn't change anything. You would need ages to have something worth investing in, and like you said before, during this way, you'll probably need that money for something vital, which means going back to 0 and no investing for you.
Being born poor is a trap. A total scam.

The very best method to saving money is to create a Budget. Shocked

With a budget you figure out what your income is and what your expenses are.
Once you know these two things, you can look for ways to reduce your expenses or increase your income to allocate an amount of money that you can afford to save.

Well budgeting is great but some people barely have enough to feed themselves and if you have more going out than coming in then you're in real trouble and debt enslavement comes in.

If that is the problem may be they can start with have some saving first and not directly go for budgeting. Some people sure will need some saving to have enough money so they can do their things. May be they can start from a low earning first to make a good saving after that going to next level and do that step by step

How can they save when they haven't or barely got enough to survive? That was my point. People on the breadline can't even afford to save and end up borrowing just to get by then the debt enslavement cycle begins.

BTCevo

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Activity: 1834

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Quote

This. Time is money.
Of course everyone, or almost everyone could be able to save one dollar from this current monthly expenses, but so what? It doesn't change anything. You would need ages to have something worth investing in, and like you said before, during this way, you'll probably need that money for something vital, which means going back to 0 and no investing for you.
Being born poor is a trap. A total scam.

The very best method to saving money is to create a Budget. Shocked

With a budget you figure out what your income is and what your expenses are.
Once you know these two things, you can look for ways to reduce your expenses or increase your income to allocate an amount of money that you can afford to save.

Well budgeting is great but some people barely have enough to feed themselves and if you have more going out than coming in then you're in real trouble and debt enslavement comes in.

If that is the problem may be they can start with have some saving first and not directly go for budgeting. Some people sure will need some saving to have enough money so they can do their things. May be they can start from a low earning first to make a good saving after that going to next level and do that step by step

Krang

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Quote from: GreenStox on May 20, 2015, 08:08:45 PM

Quote

This. Time is money.
Of course everyone, or almost everyone could be able to save one dollar from this current monthly expenses, but so what? It doesn't change anything. You would need ages to have something worth investing in, and like you said before, during this way, you'll probably need that money for something vital, which means going back to 0 and no investing for you.
Being born poor is a trap. A total scam.

The very best method to saving money is to create a Budget. Shocked

With a budget you figure out what your income is and what your expenses are.
Once you know these two things, you can look for ways to reduce your expenses or increase your income to allocate an amount of money that you can afford to save.

Well budgeting is great but some people barely have enough to feed themselves and if you have more going out than coming in then you're in real trouble and debt enslavement comes in.

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English ⬄ Russian Translation Services

However unfortunately time is deflationary (in the sense that it decreases in amount and increases in value as you get older), and if you dont spend it quickly, it will evaporate and you will lose it Grin

If people were allowed to live forever, we would have crowds of zombies purposelessly walking the streets. Just like with air, the utility of time would be next to nothing then...

This reminds me of the movie In Time

Dotakels

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Quote from: GreenStox on May 20, 2015, 08:08:45 PM

Quote from: Amph on May 19, 2015, 02:44:19 AM

Quote from: Amph on May 19, 2015, 02:44:19 AM

The meme "Time is money" is just short for being quick to react, don't let real capital stand unused, and such things. "Time is money" can also be said of working hours that a person is capable of, in case he is hired on a time basis. But time is not really money. Money is just the most liquid valuable stuff on the market, the stuff that it is good to come back to when you have finished a project, because when you have money, you are free to chose to engage in any kind of projects.

time is money actually but only when converted(in the sense that you need to use your time to produce money), like everything you can convert into it(money), so basically as long as you can barter your stuff with money they become money

in fact, saving time isn't saving money, it's actually losing money, they are correlated indirectly

Yes, i agree. Time is your natural born, basic asset that every human has and it's scarce. Its your most basic asset & currency that you got.

You can also trade it into anything: to make money with it, to have pleasure, to waste it, or to make boring things with it.

However unfortunately time is deflationary (in the sense that it decreases in amount and increases in value as you get older), and if you dont spend it quickly, it will evaporate and you will lose it Grin

Yeah if you just keeping it and you don't know what you are going to do with your money and just saving it and you don't have any goals, its price will decrease in next year.

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Quote from: Amph on May 19, 2015, 02:44:19 AM

The meme "Time is money" is just short for being quick to react, don't let real capital stand unused, and such things. "Time is money" can also be said of working hours that a person is capable of, in case he is hired on a time basis. But time is not really money. Money is just the most liquid valuable stuff on the market, the stuff that it is good to come back to when you have finished a project, because when you have money, you are free to chose to engage in any kind of projects.

time is money actually but only when converted(in the sense that you need to use your time to produce money), like everything you can convert into it(money), so basically as long as you can barter your stuff with money they become money

in fact, saving time isn't saving money, it's actually losing money, they are correlated indirectly

Yes, i agree. Time is your natural born, basic asset that every human has and it's scarce. Its your most basic asset & currency that you got.

You can also trade it into anything: to make money with it, to have pleasure, to waste it, or to make boring things with it.

However unfortunately time is deflationary (in the sense that it decreases in amount and increases in value as you get older), and if you dont spend it quickly, it will evaporate and you will lose it Grin

Dotakels

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Activity: 490

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The meme "Time is money" is just short for being quick to react, don't let real capital stand unused, and such things. "Time is money" can also be said of working hours that a person is capable of, in case he is hired on a time basis. But time is not really money. Money is just the most liquid valuable stuff on the market, the stuff that it is good to come back to when you have finished a project, because when you have money, you are free to chose to engage in any kind of projects.

time is money actually but only when converted(in the sense that you need to use your time to produce money), like everything you can convert into it(money), so basically as long as you can barter your stuff with money they become money

in fact, saving time isn't saving money, it's actually losing money, they are correlated indirectly

Thats right, saving time or spending time in unuseful things means losing money. You can save money but your time is very important, there are different types of importance of time. It can be the time that you can't back or you can't restore.And the another type is the the time that can make a money, theres so many jobs that you wage is depends on your time of work.

Amph

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The meme "Time is money" is just short for being quick to react, don't let real capital stand unused, and such things. "Time is money" can also be said of working hours that a person is capable of, in case he is hired on a time basis. But time is not really money. Money is just the most liquid valuable stuff on the market, the stuff that it is good to come back to when you have finished a project, because when you have money, you are free to chose to engage in any kind of projects.

time is money actually but only when converted(in the sense that you need to use your time to produce money), like everything you can convert into it(money), so basically as long as you can barter your stuff with money they become money

in fact, saving time isn't saving money, it's actually losing money, they are correlated indirectly

zendantom

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