Topic: Save money today so money would save you tomorrow. - page 7. (Read 1613 times)

We are at that stage of age where we don't pay much attention to how to save money now we try to do whatever comes to our mind. But now is a good time to build the future, if we can save money now and plan for the future then we can get multiple returns from the money we save now in the future. Whenever we have money we spend it without thinking anything but when we don't have money to spend we realize how hard the world is for us. Instead of understanding the importance of money when money is not around, when we have enough money, we should understand the highest importance of money. When we have enough money we have to think that maybe we have money now but in the future when we don't have money our life may be worse then we have to try to save money. In addition to saving money, we should always plan what will increase our money in the future.

In short, save for emergency funds.
It's not always good to buy some things that you don't need, but if you will then at least consider saving some money for emergency funds first. I said "emergency funds" twice because, for me, that's the only reason why we need to save money.

Saving for the sake of saving will not help you because of this stupid inflation. Saving for emergency funds would be helpful for us because like OP said, we don't know when will be the time when we might need that money for something whether it's for an emergency, or somebody from our family needs urgent help, etc. Well, of course always don't forget to invest still. Don't save only, but invest as well if you have money of course.

There are many reasons why there are many people who aren't saving, but one reason is they are lacking financial literacy. Another reason is that they can get easily attracted to these sales in malls or whatever establishments it is. Like I said, save early, but don't save only. Invest as well.

Many reasons why they didn't save at their young age or at any age, most reasons are because they want to enjoy their youth so they won't regret it when they're married, their salary is not enough to save because the cost of goods is really expensive, they focus to invest and forget to save their money in the end, and many more reasons. saving is really helping us when something emergency happens because with saving we can keep our crypto Investment from being used. I hope that young people start to saving in their early so they won't regret it in the future.

Well, my story is quite contradictory. I was a saving type, the hardcore saving type, the type who'd save more than half of my money and tell myself it's for my future self, until I realized, at that rate my future self was going to be flat-out, an ulcer patient, and have lots of health problems if I don't play my cards right. Saving is good really, but I can never emphasize too much on how bad it'll be if you don't learn how to manage your money.

You see managing your money doesn't just have to do with not overspending, it simply has to do with channeling your money into the right investments, yourself, first always.

Don't get me wrong, please save, your future self deserves that. But make sure you're earning enough so you can save properly, instead of saving on low funds.

from what I have learned, saving alone will never be enough to make you survive the current world economic uncertainty, you must be able to make more money and have many sources of income. if you keep saving, you will only torture yourself and make the things you want never achieve, but if you have investments, you will be able to manage your money well and also have good achievements too.
My advice, invest in bitcoin and if you want to split your investment then you can also choose to invest in gold, Don't let your money evaporate in the bank.

We can’t control these young generation not to spend on luxuries as they can also afford that type of living. But I believe in the end, they will learn their lesson as well. Especially if they see some other young people who are already successful at their young age and living their dream life, while leaving them struggling to sustain their daily needs.

It’s not bad to spend but spend only within your limits. Or the best advice is, save first for your future investment, and when you have reserved already some funds to save, then treat yourself as well using your extra money.

But just a few younger generations are saving and investing right now, others prefer spending on luxury, going to club, and spending on things that are not necessary. If they end up going broke, they will end up regretting why they spent the money like that. When you are young and you are earning well, then it’s better you save for your future. If you don’t plan for the future when you are young, then you might end up regretting it later because the opportunity that some people have when they are young won’t have that kind of opportunity when they are old, and sometimes things might not go well for you, so you will be able to fall back on the savings or investments that you made.

You might just notice the importance now but our forefathers had noticed and I've put enough advice down for us even without the economic situation we are all facing these days. Saving is good, but I advise that you save wisely. You may save but the money will just depreciate due to inflation and poor economic management by our leaders. Where you save also matters, and I like to save in an investment package or in an asset so that will not be affected by inflation.

I can't believe that anyone can save their money in the bank these days, they better have it in a better portfolio where the money can yield for them. Like in Bitcoin and others that will ever be a hedge against this heavily biting inflation. It is worse in my country, even without hyperinflation. Savings are good but investment is better, and the wise ones saved and invested even before now, so that their retirement can be better than it was for their parents. We all need to be wise now, it's so sad the situation we find ourselves in, yet with savings and good investment, we can lessen the negative effects.

Saving will always be a must have for us. Not only it will serve as our emergency funds, but it will also be a good source of our investment capital. First, you save regardless of any amount and when you have good amount, reserve a portion for investment that you can afford to lose, but still continue to save to back up your finances.

While saving is a good start, investing is the end goal. Your savings would save you tomorrow but investment profits will multiply your savings amount, which means you will establish a better and brighter tomorrow, not just for you, but also for your whole family.

However having good management of money is always recommended, and when you are able to appreciate the value of money then I think you will prioritize considering first before you finally spend the money, on the other hand most people these days have difficulty in distinguishing between needs and wants, they are always trapped in the thought that it is their needs but in fact there is no benefit that is too important from the items they buy which in the end the money goes to expenses that should not be necessary, Therefore, if you are able to appreciate and manage money well then I think you will prioritize function over prestige, but unfortunately most of today's youth always prioritize prestige over needs and saving is an action that they ignore when in fact this is an action that must be considered and done because it is for their own benefit, as the OP said that you will really feel that money is very valuable when you are already in a situation that is quite alarming, right, surprised when you see the increase of some necessities. So the bottom line is the mindset in terms of the perspective of money that must be corrected in my opinion and also they must change the habit of buying something that is basically not too important and then menga

What you said is quite the right thing for everyone to do due to the world economic situation and the government level of management is leading to recession in most countries and different economic problems. However, you advise the people to save some part of the salary and funds, and if the saving is not done in the right way it will lead to loose of the value of the fund.
You ought to advise people to save funds in cryptocurrency not in fiat currency. I believe that's what you mean but some newbies will understand you and have the belief of saving in fiat.

Many individuals are unable to differentiate between what they want and what they need. and that is why many people are still squandering their money on things that will not benefit them either now or in the future. It is very good if we can be able to detect these two things because it is very important to us to know as it will help us to be successful in the future. Furthermore, we don't know what will come up at any time that will need financial assistance. We will not boarder ourselves to go and borrow money. However, saving money is not really an easy thing to do. I can personally testify that because we cannot save money when we have financial problems to solve, you can see that it is not really an easy thing to buy. It is something that will help us if we have patience and do it.


You cannot decide for them if they should invest in bitcoin or not. The only advise you can give to someone is to save money. Let me tell you that your bitcoin investments are a choice. You cannot force anyone to participate. You're already aware that the bitcoin has a certain risk, and it's obvious that not everyone is willing to take it. People who are not aware of investing will not want to invest; instead, they will save in fiat; they are unconcerned about inflation; and the majority of them are not saving to multiply; rather, they are saving for emergencies.

There's nothing wrong with savings, and I agree that having some extra for special occasions or emergencies can be very useful. But if you live in a country with unstable fiat, you should mind the inflation rate and consider keeping savings in a more stable fiat currency (like the USD) or in something different altogether (like Bitcoin).
Regularly setting aside some money for savings is also useful to make one more organized and more mindful of one's spendings.
In my country, saving some money is considered fairly common, whereas taking loans or using credit cards is considered risky and unfortunate, so the op's advice falls in line with our local culture, but I suppose things are different in other places.

This stands true for most of the countries but it would be s stupid move if you save it in form of money because you will never be able to catch up with inflation hence I would say it's not just saving but rather it should be an investment which should help us to overcome or atleast have break even with inflations. I think instead of saving fiat we should explore options like real estate, bitcoin, gold, stocks as these assets will help us to multiply our money else we will not be able to have sufficient money even if we save for ages with just fiat.

Yeah, people have gotten wiser and don't want to leave there money dormant again, and people are trying by all means to invest the money. At this point in time, I don't think anyone will even take savings as an option. And if there is any money, it can be divided between investing and keeping some for yourself. And those who are retired, need to choose what they intend to do with there money if they don't make good use of it.

If not for that, everyone is affected by this inflation, and gradually people are losing the power to be able to purchase most of these products. Even if you want to keep your money in the bank and talk about fixed deposits, you gain a lot of profit from them, so its better to invest.

Just saving money is not enough in my opinion because its value will decrease over time. And we should use our money for something that can produce or be productive. I won't say it's the wrong thing to do, but we can definitely judge which one is better for us to do.
I also save money, but it's a diferent form of money that I use for business or investing. Although the amount is not much, I do my best to save and invest at the same time. I always set aside a few percent of my income, and I use that amount to invest and save the rest. There are actually many ways we can do it, but again it comes from our big desire.

Saving will always be advised to anyone not only with youth. Small or big amounts, to save should always be considered. It could be used for emergencies, financial circumstances, or even wants. However, it depends on how long would you be saving and the amount you will be allotting for that savings. Therefore, you cannot expect more than what you put into it, concluding that it will be limited.  For sure it would be convenient by the time you will need it. The only factors affecting how an individual saves is financial capacity to do so, lifestyle he/she is having, and dedication to do so. It is  good practice to start as long as you are young however, its consistency matters on your perspective and that changes as you age. You could be engaging with the "wants" on a certain age as well as the drive you will be having. Investment is also considered over saving because it is expected to do more.

Saving is your trusty shield, always there to block unexpected financial blows. But investing? That's your magic growth potion, helping your money multiply over time for bigger goals like early retirement, dream vacations, or your kid's future spaceship.

You don't have to go all in on investing right away. Start small, maybe by diverting a portion of your unspent income, while keeping your emergency fund stocked. As your investments grow, you can adjust the balance, like a financial ninja mastering the art of both offense and defense.

Remember, saving and investing are teammates, not rivals. One keeps you safe in the short term, the other helps you build wealth for the long haul. Think of it as building a fortress of financial security, with both a sturdy wall and a secret stash of gold.

It's true that inflation can erode the value of your savings over time, while investing can offer opportunities for growth. Saving is like building a sturdy emergency fund, your financial safety net. It's crucial for unexpected expenses, job loss, or that leaky roof that suddenly demands attention. Without this safety net, even the best investments can be derailed by unforeseen circumstances. Investing, on the other hand, is like planting a money tree. It has the potential to grow your wealth over time, beating inflation and potentially securing your future. But remember, it's not a magic money machine. There's risk involved, and you might not always hit the jackpot. Investing definitely offers the potential for higher returns, but it also carries greater risks. While saving may not generate significant gains, it provides a secure safety net. Both strategies have their place in a balanced financial plan.

We know that smart ass. Focus on the general idea.

A car > a liability (could be an asset if you own a car rental business)
A house > an asset (could be a liability if you don't rent it out)

A house can become a liability too if you don't take care of it or keep it empty. It is because maintaining a house is not free. However, if you take the right steps, it will be an asset. I know that some tenants are assholes but not all of them are. I know it because I know most homeowners are making money. If it were the other way, none of these home owners would want to keep their assets. They keep them because their assets keep them making money.

Owning real estate is not the only source of cash flow anyway. Dividend stocks are a nice way to generate cash income. Bonds are another option but the underlying asset of bonds is a cash equivalent so it is no good in an inflationary environment and we have been always in an inflationary environment since I don't know when.