Save money today so money would save you tomorrow. - page 5.

erep

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Quote from: tbterryboy on February 26, 2024, 11:44:31 AM

Anyway, Both Gold and BTC can bring us a fortune which can also equates to being financially free, but it's just that BTC is only known to be a decentralized currency and the title of financial freedom is its tag line. BTC is more techy than Gold but I heard there is also digital gold now? And they might be back by a real gold. For me, both assets are still important because each has their own pros and cons.

Both types of investment need to be added in asset diversification mode to stabilize asset values if one asset experiences a loss, we can also add other assets including real estate, shares, land and others. Don't place on one asset as we are advised to have at least 2 different assets, however gold and BTC are the perfect combination for long term assets.

The situation of fiat is increasingly worrying due to the impact of global finance, the value of fiat is getting lower but the prices of goods and services are increasing greatly, so prepare yourself to choose assets that you think have the potential for future profits.

tbterryboy

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Quote from: mirakal on February 19, 2024, 10:55:17 AM

Saving money alone cannot save us from the future's uncertainty but saving and investing as well will secure us a brighter future. While investing in gold can bring us a fortune, then the more that we can achieve financial freedom through saving and accumulating bitcoin.

However, saving gold is always the traditional form of investment and will never be underrated. But since we are now in the world of technology and innovation, saving bitcoin could perfectly suit the demands of our future.

I think you are right, and that is because the value of money can decay overtime, and this is why like you said we also need to have an investment because it acts as a counter to the inflation. We only need to choose our assets wisely as some are still poor in quality and only just a scam.

Anyway, Both Gold and BTC can bring us a fortune which can also equates to being financially free, but it's just that BTC is only known to be a decentralized currency and the title of financial freedom is its tag line. BTC is more techy than Gold but I heard there is also digital gold now? And they might be back by a real gold. For me, both assets are still important because each has their own pros and cons.

terrific

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Quote from: acener on February 20, 2024, 04:25:01 PM

Instead of saving why not invest it, saving money doesn't give you profit and the value would decrease as the cost of living is constantly increasing.

It is because there are people that can't take to invest. They're okay with deposits and savings but they can also earn a bit of interest from that. Not that much but it's still a return for them and their purpose is just to save.

Quote from: acener on February 20, 2024, 04:25:01 PM

What I am doing is I am holding or saving for a month and at the end of each month the money that I've save would be put into investment or I would use it to buy crypto and hold or stake it.

We've got different style of how we're going to use and keep our money and if this is the approach that works for you and most of us, we'll just continually going to do that because we know how effective it is. And those people that are scared of taking risk, they don't have to dive in with two feet on it, just try and see how it works and if it will work for them.

Humblevirus

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Quote from: Youngkhngdiddy on February 17, 2024, 04:19:27 PM

To cut the story short, I’m advising mostly the young people of our generation to save, avoid unnecessary spendings and save even if it’s so little, cause you might find yourself in a situation tomorrow and you wouldn’t want to call home or ask for help, cause you have a second choice, that means you are literally getting yourself out of a problem. So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.

In the current economic climate, it can be challenging to manage finances, but it's crucial to seize opportunities to save whenever possible. Saving isn't just about preparing for emergencies; it's also about securing your future. As we age, our energy levels decrease, making it harder to earn money through work. Therefore, it's essential for young people to start saving now to alleviate potential financial struggles in old age when they may no longer have the capacity to work.

By planning and setting aside money early on, they can build a financial cushion that will support them during retirement when they may be unable to actively seek employment. Thus, embracing a habit of saving today can significantly mitigate the hardships that may arise in the distant future, ensuring a more secure and comfortable retirement.

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Quote from: Youngkhngdiddy on February 17, 2024, 04:19:27 PM

To cut the story short, I’m advising mostly the young people of our generation to save, avoid unnecessary spendings and save even if it’s so little, cause you might find yourself in a situation tomorrow and you wouldn’t want to call home or ask for help, cause you have a second choice, that means you are literally getting yourself out of a problem. So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.

There is no substitute for savings when it comes to living a healthy and secure life. People who don't save I think don't have a specific goal either. Even a poor man should have tendency to save. My today's situation will not be the same for tomorrow. So I have to act accordingly today for tomorrow's security. Moreover, human performance also decreases with age. So we should have a saving attitude in advance for how we can survive in the future days.

Those who have the attitude of saving they can do it. But saving money is definitely difficult for some people especially who don't know about the importance of saving. An earner should commit to savings even if it is small. The amount of savings may be very small but if one can save that money will turn into an asset after a certain period of time.

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Quote from: acener on February 20, 2024, 04:25:01 PM

Instead of saving why not invest it, saving money doesn't give you profit and the value would decrease as the cost of living is constantly increasing.
What I am doing is I am holding or saving for a month and at the end of each month the money that I've save would be put into investment or I would use it to buy crypto and hold or stake it.

Money that is saved every month and ultimately used for investments or other work is an important part of earning more money through this. Because money that is just sitting around will clearly not produce anything other than the money itself, the value of which can even decrease when the cost of living starts to increase every month. So it is indeed the best option for anyone to use their money in work that they love and are good at, such as Bitcoin investment and also in more profitable businesses so that we can continue to make more money every month.

I think this is not only about how to save or save, but also about how each person knows how to use and use money for things that are more important and more profitable for themselves every month. Because we all know that money saved at home or in the bank will not get better or make more money unless we take that money and use it as capital to attract more money through business and other jobs such as investing in the best crypto assets.

Mr. Magkaisa

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Quote from: Youngkhngdiddy on February 17, 2024, 04:19:27 PM

I wasn't really a saving type, but lately looking at the current situation of things in my country, how costly things have gotten, once money enters your account or wallet, you'll be suprised of how you won't be sure of how it vanished, not to talk of having a tangible reason of what you did with the money. So recently looking at how people cry for money and personally looking at how I needed money I decided to start splitting the little allowance I get, saving one part and using the other, I won’t really say that it has made me a billionaire or that I no longer lack money but at least I have cash somewhere that I could call my own and fall back to in cause of emergency.
To cut the story short, I’m advising mostly the young people of our generation to save, avoid unnecessary spendings and save even if it’s so little, cause you might find yourself in a situation tomorrow and you wouldn’t want to call home or ask for help, cause you have a second choice, that means you are literally getting yourself out of a problem. So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.

- All people know that saving money is a good thing, but that's why the majority of them don't do it because the reason for the majority is that they don't have a large salary; rather, they say it's not enough. These are their reasons, most of the time.

But there are others who, even though their salary is small, are able to save money, while others have a large salary but are not able to save money. That means it is a matter of determination and willingness to do it, right? There are others who earn a lot but don't know how to manage their money.

MissNonFall9

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In today's competitive market and rising commodity prices, there is no alternative to saving money. Because we don't know where it ends. Since none of us have a firm idea of the consequences, we should save some of our income and focus on moderate spending. Because I have seen and seen how the rise in commodity prices is accelerating day by day.
What I am doing myself is saving some part of my income without thinking about the expenses in advance. Because if I think about buying first I find I don't get any surplus money for savings. Yes but if I save before spending then I can handle the expenses with the amount of money I have. But it's just that while maintaining house expenses, I have to cut some expenses that are necessary but will not affect me even if I don't.

acener

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Instead of saving why not invest it, saving money doesn't give you profit and the value would decrease as the cost of living is constantly increasing.
What I am doing is I am holding or saving for a month and at the end of each month the money that I've save would be put into investment or I would use it to buy crypto and hold or stake it.

tyz

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Quote from: mirakal on February 19, 2024, 10:55:17 AM

Saving money alone cannot save us from the future's uncertainty but saving and investing as well will secure us a brighter future. While investing in gold can bring us a fortune, then the more that we can achieve financial freedom through saving and accumulating bitcoin.

Saving and investing is the key. Investing alone is not a guarantee of having a better live later. Investing is an art, apart from throwing your money into an S&P 500 ETF and hoping it will go up like it has over the last few decades. People believe that because it was so easy to make money with the American index in the past, it will be easy in the future. But nobody knows what the future looks like. It may be that only special investments will really make money in the future.

killerfrost

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It's not a question of "investing versus saving," but rather finding a healthy balance between the two. Both strategies play crucial roles in securing your financial future, but for different reasons.

Saving is your safety net, your financial airbag. It's the pool of money you can readily access for emergencies, unexpected bills, or short-term goals. Think of it as your peace of mind fund, knowing you have a buffer against life's curveballs. Investing, on the other hand, is about growing your wealth over time. It's like planting a seed – you put in your money, nurture it with research and patience, and reap the rewards in the future. It's a strategy for long-term goals like retirement or building wealth for your family.

The key is to strike a balance based on your individual needs and risk tolerance. A good rule of thumb is to build a solid emergency fund before venturing into significant investments. This way, you can weather unexpected storms without jeopardizing your long-term plans. Ultimately, it's not about choosing one over the other, but about combining saving and investing for a well-rounded financial strategy.

knowngunman

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Quote from: Rruchi man on February 17, 2024, 05:05:25 PM

But will you keep saving when there's a better way for you to secure tomorrow which is by investing? Investing offers a better option to me than saving because in saving your money may be losing value due to inflation but when it comes to investing the money is building value against tomorrow. Do not save without investing. If you want to have things easier for you tomorrow then it is better to make sacrifices today to make good investments that will be profitable for tomorrow.

If you start investment at an early age you will be able to retire early when you're old.

This is the first thing that came to my mind when I saw the topic before even opening the thread but Op had a different opinion. I see it as unwise decision for someone to be saving their money when there are better opportunities out there that one can venture into with some reasonable capital. However, I realized that two things are the main reason why people are scared of investing their money. To some, it's the risk involved but I don't see that as an excuse. Taking no risk is the most riskiest and it's imperative for one to take risk if you want to be successful. Taking risk has just two result, either you succeed in it or you learn from it. Secondly, lack of knowledge is another reason why people are not investing. They see themselves as if they will not survive in investment due their lack of knowledge. No one was actually born a genius, you dedicate your mind and time to whatever you want to learn and you'll become pro with time.

Saving money is actually good but investing the money is the best thing to do at the moment. When you take a look at the influential people on earth, they are not people with huge money on their account but rather, they are people with high investment.

Lukmanfirdaus1

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hallo world ^_^

yeppp, I agree with you about saving money, dividing it into several parts, saving and not spending on unnecessary needs. Steps like this can save us from poverty or at least can help during emergencies such as accidents, being fired or even pandemics like Covid-19 a few years ago. but it would be wise if you already have a lot of money in savings, don't save it in fiat, because your money will be eaten up by inflation, you can buy gold which has been proven to be reliable for centuries in fighting inflation.

Marvelockg

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It's not just about saving money, it's about saving it in the right form and way. If you save your money in fiat currency you are putting yourself in a serious disadvantage because fiat doesn't appreciate but in nost cases depreciate in it value. If you are currently doing a job that is paying you an amount that's above your daily expenses and you can afford to save some, don't just save it in the bank. Use it to purchase asset that's of value or better still invest it into something that will increase in value with time.

AnonBitCoiner

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Saving can save you from hard circumstances and when you need money in emergency then you have not to worry about it and will not beg in front of others to handle the situations but you can freely use your saved amount. People do not understand the benefit of saving when they are young because they find everything they wants from their parents but when they grow up and manage their needs with their own salaries then they regret for their past.

I think young generation are spending more money on useless things as Compared to old generation because they either have no idea about saving or they are not using money of their efforts. So when they initiate using their own money then they will understand that how important saving of money is.

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Always be thrifty. Today you are fine, you have a job but can you guarantee that tomorrow there will be no calamity in your life? Don't say no. We cannot tell what will happen in the future. So we should always save money for future and then spend it. There is no harm if you keep the amount of money you spend in your daily life and deposit the rest immediately. We all should save a certain amount of money. And this money must be deposited in a trusted place. You can deposit the fixed amount from your earned money in BTC, USDT.

KiaKia

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There are too many bad advice that people like sharing to other people, you should invest your money today is that you will save yourself tomorrow, savings won't safe you tomorrow, because the amount you saved is still the exact amount you save.

There was a time where people are advising people to start saving, now the currency of my country is losing value faster, not only are they getting the amount they saved, but the value isn't there anymore, it's a bigger loss for them.

It's good to save money, but depending on what the economy will look like tomorrow, your saved money might not help you in anyway that you thought it would, when you have income problem, don't solve with savings, find how you will have better income stream and instead of focusing on savings, it's better to start investing.

khiholangkang

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Quote from: Bd officer on February 19, 2024, 09:45:17 PM

Savings is very important in all of our lives. You may have a situation where you may lose your job if you are employed or your business may suffer if you are in business Now if you don't have savings then your life will become difficult to live. So thinking about the future we should save as much as we can afford. But currently inflation is increasing so it is better to keep investing in bitcoins if you can afford it then you can save by investing in gold silver or land.

Frugality and saving money are different things but in English they have the same sentence actually, but maybe what is meant is frugality, but I don't know what saving money actually means in the argument.

Saving as much as possible is certainly foolish, because inflation and bank interest will eat our money slowly, it's a fact that we often don't see, but can't be seen by people who don't understand the financial system. Judging from the investment that you suggested, in my opinion, for land itself it is difficult to sell when we need money quickly, it is better in crypto or gold so that it can be easily sold without having to negotiate prices and find buyers, and if today entering crypto is a very potential profit where we will face halving and the end of the bitcoin cycle.

Bd officer

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Savings is very important in all of our lives. You may have a situation where you may lose your job if you are employed or your business may suffer if you are in business Now if you don't have savings then your life will become difficult to live. So thinking about the future we should save as much as we can afford. But currently inflation is increasing so it is better to keep investing in bitcoins if you can afford it then you can save by investing in gold silver or land.

slashz9

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yes good advice to save but to achieve financial freedom or reach a higher level than that, we all know we have to invest, or create a business, otherwise we will be trapped forever in that condition, but because everyone's start is different, so in the beginning saving is not being a bad choice, it indicates the person can set aside his income.

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