Saving advice is basic, but with inflation, increasing prices of goods and services, health insurance problems, and much more, saving is no longer ideal advice. Save, but think about investing, because without investment, any amount saved will end up with the first financial problem that happens to you.
Investment is not limited to Bitcoin, but anything that you feel is in demand and has value in itself.
Topic: Save money today so money would save you tomorrow. - page 9. (Read 1596 times)
To create a savings, you must have a nice and good income because of the poor economic situation around the globe. If not, you will definitely end up suffering. Because you can’t have savings when your income is low, that is not even enough for your personal needs. So then, what is the reason for you saving the money? Is it that you want to be the richest person in your location? Or you just want to see yourself with a lot of savings when you are still poor and filled with depths, because if really your income is not that much, when ever you engage in savings a bit or even half of your income, you will end up borrowing money to settle some of your needs. From there, you have to start accumulating a lot of depths so that even your savings will not be capable of paying what you have borrowed because, when borrowing, you will be thinking you have a savings that is capable of covering all the depths you have already accumulated, which is not. Even though your savings are capable of paying all the debt, you will be left with nothing.
That is why sometimes not everything that someone does and succeeds will also be copied, because what works for Mr. A. might not work for you, so copying someone's lifestyle is not always recommended, so you only need to create your own personal life style. Like me, I didn’t start saving a bit of what I have until I started having several sources of income, and after I invested and paid all my bills and needs, I will still have an emergency fund apart from my main savings. So my main savings now I don’t even see it as the money I will like to spend because I already have what can sustain me for some time. So the only thing I will recommend is that when you are starting a savings plan, make sure you have a strong and many sources of income.
That is why sometimes not everything that someone does and succeeds will also be copied, because what works for Mr. A. might not work for you, so copying someone's lifestyle is not always recommended, so you only need to create your own personal life style. Like me, I didn’t start saving a bit of what I have until I started having several sources of income, and after I invested and paid all my bills and needs, I will still have an emergency fund apart from my main savings. So my main savings now I don’t even see it as the money I will like to spend because I already have what can sustain me for some time. So the only thing I will recommend is that when you are starting a savings plan, make sure you have a strong and many sources of income.
Saving money is a very important and urgent task. I have clear evidence of this from my personal life. After receiving a certain amount of money at the end of the month, I started splurging without any plan. Within a few days of the month, I saw that my wallet was empty. Then I felt helpless. I had to go to different people for even small amounts of money. Then my eyes were opened. In fact, it is more challenging to plan and spend up to a certain period of time than to earn whatever amount of money we earn. So regardless of the amount of money you earn per month or week, you must set a budget to determine how you will last a month or a certain period of time. It is indeed a very difficult matter. But if you can follow it then at the end of the day you won't have to go to anyone else or at least you won't have to touch any of your urgent needs. So learn to save according to a plan.
Saving should be a habit like brushing your teeth or taking a shower. If you get into the habit of spending less than you earn, you will greatly improve your financial situation over time. Of course, after you have enough savings for an emergency fund you should invest the money in good quality assets, including Bitcoin of course, because if you simply save in fiat money you will lose purchasing power due to inflation.
the savings amount is a small amount that should stay as easy access rescue fund. not locked into investments
once you have a set savings amount as a rescue fund. then use other later income excess for investing and wealth creation knowing you dont need to dip into investments in emergencies, thus no risk of selling assets at a loss because you have the savings fund there as the buffer to save you from needing to mess with investment plans
Saving should be a habit like brushing your teeth or taking a shower. If you get into the habit of spending less than you earn, you will greatly improve your financial situation over time. Of course, after you have enough savings for an emergency fund you should invest the money in good quality assets, including Bitcoin of course, because if you simply save in fiat money you will lose purchasing power due to inflation.
Saving is better than overspending. I personally divide my funds into three first one is for my daily needs and expenses, second is for saving purposes and third invest on something that makes a passive income. I just allocated 10% of my monthly income for my daily needs, keep 30% for savings and the rest goes to investment in Bitcoin. This is how I managed my overall monthly income. I don't have that much but yeah better than nothing. I already have learned from my mistakes that is why I came across to this management. 😁
It's fair to say that saving is always important for the future, but this doesn't always apply to many people. Because life is complicated, not only the luxury lifestyle but also those who cannot afford it, I also live in a country where inflation is quite evident, but I understand that for the finding ways to adapt to the current context.
But on this topic I will think a bit more broadly about not only saving money, but also optimizing life, maybe optimizing daily time at work or living to balance our life. Anyway, the issue of saving will come in many different forms, and the last factor I think about is rebalancing your life.
But on this topic I will think a bit more broadly about not only saving money, but also optimizing life, maybe optimizing daily time at work or living to balance our life. Anyway, the issue of saving will come in many different forms, and the last factor I think about is rebalancing your life.
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.
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.
I agree with your tips and would like to add one myself: it's crucial to track your expenses, so you can see how much you're spending, especially on things you don't truly need. By doing this, you can identify areas to cut back and boost your savings for an emergency fund.
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.
Having an emergency fund is a must, precisely because you have no idea when something bad could happen and you may need money right at that moment to solve the situation.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.
However it is important to not exaggerate either and become a miser, since we must not try to accumulate wealth just for its sake and instead we need to enjoy it as well, so a balance must be reached in which you spend some of your money in the stuff you want, while you also save a portion of your money.
For me, it's not just about saving but also investing. Because the benefits of saving and investing cannot be denied, namely being able to save our finances for the future. It's just that practicing or getting used to being disciplined in saving or investing regularly is difficult, because it's not as easy as turning the palm of your hand. In reality, many people fail to implement these good financial habits, but on the other hand, we need to force this so that we can be consistent.
Actually, this is for all groups, not just the younger generation. In fact, many people aged 17 to 36 years fail to save, because usually half of this group's fixed income is used to finance routine monthly needs and entertainment costs. So you need to get used to it so you can be disciplined and consistent in saving and investing, which does require special effort. However, this must be enforced because if you know what the benefits of both are, then the habit of saving and investing will no longer be difficult to do regularly.
Actually, this is for all groups, not just the younger generation. In fact, many people aged 17 to 36 years fail to save, because usually half of this group's fixed income is used to finance routine monthly needs and entertainment costs. So you need to get used to it so you can be disciplined and consistent in saving and investing, which does require special effort. However, this must be enforced because if you know what the benefits of both are, then the habit of saving and investing will no longer be difficult to do regularly.
Saving is the best way to create better financial conditions in the future. But many do not know how important it is to save, especially among young people. The benefits of saving early on or from now on, namely:
1. Help prepare funds for the future.
This can help prepare funds for the future. Because we will never know what expenses we will need in the future. For example for tuition fees, or other needs.
2. Avoid yourself from debt.
Owning is a solution not only for urgent needs, but desire. Want to buy something sometimes it is realized by debt because the funds have not or not enough. For example, buying a car for a day of a heart, but the funds are not enough and in the end we are in debt for credit. Suppose you have savings that have been collected from this, maybe you will be free from the bondage of debt.
3. Preparing emergency funds.
Because an emergency can occur at any time. The benefits of saving in this problem are of course to prepare themselves in dealing with emergencies. If you don't have savings, you will be hassle or difficult to deal with it.
And those are some of the benefits of saving early on. And there is a good way to save. First, determine the nominal savings every month and consistently should not be less than the nominal set beforehand. Second, set aside savings at the beginning of payday, not at the old date at the end of the month. Third, use a special account that is long -term so that the savings cannot be easily withdrawn. Fourth, separate the savings account with a personal account. Fifth, determine financial goals so that the spirit of saving. Sixth, live frugally and do not be too wasteful (saving the base of rich).
But for the long term it is actually good to invest rather than saving. Investments are made for a long target and period of time, for example for the next 10/30 years. But yes on the other hand, investment also has the potential to lose money. This is what makes investment more risky than saving. But saving in an ordinary savings at the bank also has a small risk to lose money, but the money will not increase and usually there is inflation.
1. Help prepare funds for the future.
This can help prepare funds for the future. Because we will never know what expenses we will need in the future. For example for tuition fees, or other needs.
2. Avoid yourself from debt.
Owning is a solution not only for urgent needs, but desire. Want to buy something sometimes it is realized by debt because the funds have not or not enough. For example, buying a car for a day of a heart, but the funds are not enough and in the end we are in debt for credit. Suppose you have savings that have been collected from this, maybe you will be free from the bondage of debt.
3. Preparing emergency funds.
Because an emergency can occur at any time. The benefits of saving in this problem are of course to prepare themselves in dealing with emergencies. If you don't have savings, you will be hassle or difficult to deal with it.
And those are some of the benefits of saving early on. And there is a good way to save. First, determine the nominal savings every month and consistently should not be less than the nominal set beforehand. Second, set aside savings at the beginning of payday, not at the old date at the end of the month. Third, use a special account that is long -term so that the savings cannot be easily withdrawn. Fourth, separate the savings account with a personal account. Fifth, determine financial goals so that the spirit of saving. Sixth, live frugally and do not be too wasteful (saving the base of rich).
But for the long term it is actually good to invest rather than saving. Investments are made for a long target and period of time, for example for the next 10/30 years. But yes on the other hand, investment also has the potential to lose money. This is what makes investment more risky than saving. But saving in an ordinary savings at the bank also has a small risk to lose money, but the money will not increase and usually there is inflation.
agreed with this added with the fact that we can be compounding investing with the left over money by not overspending into some useless thing we could be turning it into some life changing amount by investing in certain coin if we brave enough to take the risk.
the idea of investing alone already making me too much lazy to overspend these days im sure its a good thing for me since definitely it will give me good time in the future, not thinking about money or lacking any money for basic needs.
for many though, their overspending has become habit, some might get addicted to being consumptive, thats gonna be tough for them to stop it.
but once they know that they could invest their money instead of overspending it maybe they will realize that maybe there' s much more than just overspending.
the idea of investing alone already making me too much lazy to overspend these days im sure its a good thing for me since definitely it will give me good time in the future, not thinking about money or lacking any money for basic needs.
for many though, their overspending has become habit, some might get addicted to being consumptive, thats gonna be tough for them to stop it.
but once they know that they could invest their money instead of overspending it maybe they will realize that maybe there' s much more than just overspending.
Savings puts people on the light path of future generations and provides an ability to live comfortably in the future. If you have savings and if he has. If you have valuable money then you can definitely be successful in future because if you earn something today and save something, you will need that money in future and you can do something with that money. In that case I can't say whether you can save in share market but if you want you can keep your personal savings in bank or bitcoin as you have good profit potential. But no matter what you say without saving you are also immobile because everyone saves something because without saving you cannot achieve the dreams of your future son or daughter. So everyone is definitely saving and I myself am doing some saving. I hope to be able to do something in the future inshallah.
It has been true at all ages and all countries that you need to have a financial safety net, because unexpected spendings happen in life all the time. Things break down, body gets sick, bad situations happen - all of that requires money to fix. It should be a common wisdom that you can only make unnecessary spending if you have some money saved up and not using your last money for that, but way too many people don't do that because they don't understand the basics of personal finance.
Majority do fails into this basic principle on which savings does really play a great or crucial role into someones life on which we know that we cant really be having that money forever or even having that good healthon which everything would really be gradually wither. Hate to say but almost everything could really be fixed by money except time and other non tangible things like relationship and similar stuffs and same
goes with health which we know that this one is one of the most precious thing that we should really be that taking care off so that you wont really be having those regrets.
Saving up on gradually which it shouldnt really be spend up no matter what.If its intended for savings purposes and emergency then you shouldnt be touching it,
The key for success savings is that you should really be that living according into your needs and not wants. Avoid unneccessary spendings then you would
really be just that fine.
It has been true at all ages and all countries that you need to have a financial safety net, because unexpected spendings happen in life all the time. Things break down, body gets sick, bad situations happen - all of that requires money to fix. It should be a common wisdom that you can only make unnecessary spending if you have some money saved up and not using your last money for that, but way too many people don't do that because they don't understand the basics of personal finance.
I would like to review what the OP statements are about! I'm more into earning, investing, and saving. Of course, you should have a steady income or profit, so you will find a suitable job that pays a quite fair salary. The second is to invest. If you are just going to save up your money, then it will not grow! What I mean is that if the world keeps on growing in terms of inflation rate, then your money should also be growing or gaining. That's why you should have a passive income through investment so that your money will not just sit there, and the good part of investing is that you could have whatever you want if you are fairly gaining. And lastly, saving money: along with investment, you could do saving, meaning splitting up your salary for investment and for savings, or you could put some of your profit from investment into savings, so that you are not just earning money but also securing your future financially. I think this is the most practical thing to do.
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.
Take for instance a case where someone end up using the money they've saved up for a long period to invest in a business they have no idea about they might end up losing and that's not wise. But it would be better to make proper research about a business or investment before venturing into it, by then you'll be able to know if it would you loss much or make more profit. Starting an investment early is not a bad idea but one should make sure they're venturing into the right investment.
The only way you can save money so that money can save you tomorrow is by investing it in a fixed deposit account or something you know can be easily sold when you have problems
If you stop unnecessary spending and save the money in your banks do you think about the economy how it is going price of everything is rising
But when you make some good investment like real estate bitcoin or putting your money in a fix deposit account then you have saved yourself tomorrow
If you stop unnecessary spending and save the money in your banks do you think about the economy how it is going price of everything is rising
But when you make some good investment like real estate bitcoin or putting your money in a fix deposit account then you have saved yourself tomorrow
Saving these days has really not been easy especially in this part of the world where you literally spend more than you earn. In such how do u want to go about the saving?
In a case where one earn $30 and your expense is $45 where would one start the saving knowing you need to get these items to push ahead, one will now have to make use of what you have just to gather all you need and even and that you still won’t get all in such where would the savings opt out
In a case where one earn $30 and your expense is $45 where would one start the saving knowing you need to get these items to push ahead, one will now have to make use of what you have just to gather all you need and even and that you still won’t get all in such where would the savings opt out
As ordinary people, we will not always be able to work and continue working to earn money, because there are times when we are also sick, so temporarily we cannot work and earn money. or even forever, and it is true what you say, we will never know what will happen tomorrow in our lives.
And to avoid this situation, it is very important to be able to set aside some of our income for savings. It doesn't need to be massive, just as much as you can after a need is met, but as long as it's done consistently.
And I think only a few of the younger generation are aware of this, in fact they don't care at all about what the future will be like. Meanwhile, being able to know what our future will be like depends on our current habits. If we just laze around and behave wastefully, are unable to manage our finances well, or are not good at managing our time, then it is certain that our future will suffer and will only make things difficult for other people.
And to avoid this situation, it is very important to be able to set aside some of our income for savings. It doesn't need to be massive, just as much as you can after a need is met, but as long as it's done consistently.
And I think only a few of the younger generation are aware of this, in fact they don't care at all about what the future will be like. Meanwhile, being able to know what our future will be like depends on our current habits. If we just laze around and behave wastefully, are unable to manage our finances well, or are not good at managing our time, then it is certain that our future will suffer and will only make things difficult for other people.
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