Topic: Save while young better than wait - page 14. (Read 3315 times)

I can’t tell that it’s bad parenting. Maybe parents have some lapses in teaching and instilling in their children the value of saving but that does not mean that these parents are actually showing bad parenting. There are actually some parents who do the savings for their children, so that in the near future, when these children have reached their mature age, that’s the time they can get their savings and spend and manage it wisely based on how their parents have taught them on how to manage their finances.

I agree, the only thing we can do is to use our previous mistakes as a motivation to move forward and learn new things to improve our lives. People who have achieved a better life have probably experienced many failures before reaching the top. Let their success be an inspiration for us to become a better version of ourselves tomorrow.

Some people are the opposite, "enjoy life while still young as we cannot do it anymore when we grow old".
That is why many people got old and broke. Many individuals who have huge salaries/incomes end up relying on their pensions.

It is for someone who can think and prepare for their future, they are working hard at a young age, have savings and business, and enjoy life at 40 years old. While some people are working hard and have a luxurious life every day, at the age of 40 they are still working to sustain their living.

It is a choice and what we do it now is also what we harvest in the future.

The youngest have the most powerful thing at all when it comes to finance: time. One thing that many of the richest self made people on the planet did when they were growing up was to experiment with many different strategies and allow themselves to fail, because it gave them experience and the ability to refine their skills. It is applicable for all fields of life, utilize those first ten or twenty years of adulthood to figure out how to make money, or even how to lose it, because you may be the one person who can swing a profit in a new area or come up with a mixed concept that has found just the right time to work. However, when you make a decent amount, be sure to start saving and diversifying because it can come to a stop more suddenly than you might expect.

Opportunities like this don’t represent itself twice after you’ve missed the first one. If it is too late for you to adjust somethings in your life that would have helped you live a better life now, you can use that energy to groom someone, maybe your child to help live a better life financially than you had. Bitcoin has no age exception and can be taught from a young age for the youngsters too. If you can use that opportunity now, it would be better instead of regretting the past and not doing anything to correct the past or paving way to make the remaining time in your life worthwhile of living now.

It's hard that you get old and you have no money and it's true, it's a bad situation when you get there. I am seeing a lot of old people in my country that didn't secured themselves as they grow older and that's because they love their family and never saved for themselves. That's why this generation should break the sandwich generation and they shouldn't make their children as their retirement. Don't forget to save for yourselves and invest as well because no one's gonna help you when you get old.

It is true, wished I started saving when I was younger and earning more rather than today.
There are so many young people who have a lot of opportunity to save, they don't have to pay bills rent or food since they are still living with their parents, they don't also need to provide for their family because they don't have kids or haven't started their own family.

Many of us have a tendency to hold today's work for tomorrow. I postpone the work that I do tomorrow to the day after that. Those of us who act out of laziness will never find our destination. The point I am trying to make is that if we are thinking of making a savings in the future, it is better to do from today. There are many people who are not motivated to save money and after a long time they will live very badly. Because everyday is not the same day. Even if we live well today, we should now think about what will happen tomorrow. Savings may seem like a small amount at first but after a long period of time that savings will be a great asset. Of course there is time to change our attitude.

Investment is a pretty good way to safeguard assets in the future. At a young age, people are really required to be persistent and have innovation to continue to increase their income. It must be admitted that it is not easy for everyone to do something easily, so being young can determine a brilliant future.

In my environment, it is very rare to find young people who have succeeded in developing their own business because environmental factors always require them to become workers in the government sector and private companies. But I see several young people who have also started to be successful from starting up their businesses little by little and now they are increasingly successful in various fields. I really agree that investment is the next target for young people to strengthen their economy because if they only rely on continuing to save money then things will look stagnant.

Today's savings are tomorrow's future. We all know this proverb more or less.
In young age there is enough knowledge but in old age that knowledge is no longer useful. Because in old age you can't work anymore. So put your knowledge to good use at a young age and save money. But saving money alone won't benefit you in old age. Because the value of your money will decrease day by day. So save your money and invest in something good that will support you in old age. You have the power to decide how much you can try or plan now, but you don't know what you will be able to do in your future old age. So try to plan as much as possible now.

The main rule for starting savings is to allocate a portion of your salary/income from the remaining daily needs, but saving doesn't have to be daily or weekly and you can save whatever finances you have for monthly savings.

But I have tips to motivate someone to work hard to get a monthly income, we give it the name of a savings and loan program with several people in one group, the rule is that each person must make a deposit every month and the withdrawal process will be drawn for the recipient of the monthly savings. So there is no such thing as not depositing money monthly and if you don't deposit then you will receive less money, you will be excluded from the savings and loan program in the next session.

It's quite difficult to do, especially if you are earning enough for your daily expenses and monthly bills only. No matter how hard we try and want to save, we can't because as time goes on, all expenses increase due to economy inflation, so the best thing to do to save faster while you are still young is to invest if you have extra money or try to find extra income and use your income to use in the investment or business that you are planning to do.

I will go with the statement that says "money and time works together", this statement so real and a lot of people who misused their time at an early age finds it difficult to survive now, time is so precious and if people start using their time wisely things will not be so difficult.
Everyone both young and old need to use their time wisely, this statement should be for the young in essence the young needs this advice more, it's not a matter of spending carelessly but I'm actually referring to work, young people now feel so lazy and they lack the motivation and ability to work, people like this will regret at the end cause during an old age when there's no strength and motivation how will such a person make it through. Just like what the op said being old and poor is hell asf, the truth be told wealth and riches lies in the mind and the ability to work towards that goal makes you special.

We have to build our own future. We know that if we don't do something right on time, we will face many problems in the future. We will not do something that we will regret in the future .If we can save some money from our earned money from now then we can build wealth in future. We should use this time to hold some good coins for future so that we can expect good things from them.

That's why at the moment I'm not really good at saving because we it can't generate us any good profit since we just let the money sleep on our wallet or bank accounts. That's why its really better to invest it on things that we can possibly generate a profit. But if someone afraid to lose their money and don't know what to do maybe they just try to venture on things that can possibly give them a passive income like investing on real estate assets having a rental property either commercial or residential spaces can give us passive income and that's what I'm aiming for since for sure once we get retired our assets can save us from getting broke and it can continuously generate us profit that can be used for our daily needs.

This is what people need and they should think about what they are plans for future so that they have goals to reach and some inspiration to proceed.

Those who have reached master's age but are experiencing financial problems, of course when they were young, they didn't think about their life when they were old and if there is a poor generation that is still young then they don't want to work and have an income and also they don't have the skills that can provide income. for them, if when they were young they were lazy about working then they must be ready to work until they are old and for the younger generation who have jobs and income they must be able to manage it well so that they have savings when they are old.

Yes, those who regret being poor when they are old will certainly advise the younger generation about financial management and also about working diligently when they are young so that they are not poor when they are old.

Very little saving can also be financially effective if make on time but saving will be little beneficial as compared to investment because just saving of money cannot increase in value but will remain decreasing as fiat currency decreases in value as time goes.


If someone make investment with the help of this saving then perhaps he realize the value of investment. Various techniques are originated according to modern age so adapt yourself according to it and change your mind because diversification of investment is needed to have a stable financial system.

Many poor parents want to go back to the past to correct their mistakes when they were young. Poor young people are better off than poor parents, young people still have time to improve their lives by setting aside their income for savings. Youth is a productive period for doing everything, including investing for old age, saving is one effective way to reach a safe point when you are old. It is often found that parents advise young people to maintain their financial stability so that in their old age they are not burdened by financial limitations. This kind of advice is based on his experience and a comparison between the routines of rich parents and poor parents when they were young.

When you are young, you need money more. That's a fact. Especially if there is no family wealth, it's much more difficult to achieve things. Creating your own capital and living as an independent individual at the same time is an uphill struggle. This is especially difficult for young people living in countries like ours. If one can raise money to invest after meeting basic living needs, they should definitely do so. Both for their own future and for their family. The best part of investing is staying away from bad habits. Instead of wasting money on alcohol, drugs or gambling, saving and investing into stocks and crypto-currencies for yourself is the biggest favor a young person can do for themselves. In the long run, they will see that they have made a very good savings.

It is essential to enjoy things but be sure to still include responsibility on that enjoyment. It is okay if at this point you cannot prioritize investments still 'coz you are still driven with seeking for happiness; going out with friends, buying the "wants" over "needs" and such. It is just okay however everything that is too much, should be always be put into concern. Saving while we are young is no doubt a good thing to do. Trying investments and engaging to profitable assets is also ideal for the youth but we have to accept the fact as well that doing so will require time, effort, and financial capacity. Aside from being incapable, never set aside being "young". You could have all the money but time will not be back again at the present so be sure to avoid regrets as well. Seek balance instead.

I highly agree. There are many forms of investment and knowledge is one of it. Some people are having the drive to put money on tangible investments but are not putting knowledge and overall being into account. This is why I mentioned about being balanced; read books and watch informative contents that will give you idea and learnings. Then atleast once in a week socialize and increase your network by socialization and once you have that initiative to actualize then go. Misconception is just going directly against the 'tide' ; that's not being responsible and goal oriented are all about.