Topic: Save while young better than wait - page 15. (Read 3315 times)

Start saving and creating your wealth. It’s always better to see yourself saving early so you can perform your plans successfully at your young age. And while it’s certainly a must regardless of the amount of income, but we should all know that saving alone is not the end goal, it will only serve as a starting goal so we can make a successful investment later on.

However, having sufficient amount of savings still cannot guarantee the success of any investment. You need to invest first in yourself by building your knowledge and experience which will help to achieve your end goal of why you invested in the first place.

I agree with your statement when we are young, we build our wealth, don't waste the time we have because time is money, just like investment, don't ever time the market, it's better to pay in installments from now, we consider postponing later and regretting it in our future we have to think about our future because the only one who helps us is ourselves

If there is a way I can turn down the hands of time back to when I was young or not to this level I was, I will gladly accept and if I have the opportunity to go back in time, I will beg to be back to 2009 where I can see bitcoin been traded at lowest price then but all these are fantasies I love so much but they are not coming back again, this is sad but that's the truth and the more reason why we should never joke with time particularly when things are rossy for you.

Invest when you are young if you have the means to and if you are poor, double your husle to get out of that financial status, anyway you want to define it, the the world only recognize people that have money and not people that has nothing. So you have the option to invest if you are young if you are born with a silver spoon or try and legitimately hustle and get money if you are poor and stop chasing ladies here and there. I'm not sure is there is any man that has been awarded for having the best chock in the world, we have many of them everywhere including the ones that will like you for who you are and not till you break a bank.

The world is even revolving rapidly, things are now like air in the sense that if you are into a work that deal with trend and you don't quickly rebrand and upgrade yourself as the world is going, you might even loose out on what you are doing. Yesterday, Nokia and Blackberry were everything the world ever wanted but where are they today? Other people has took over and has use their lesson as motivation, things are changing that if you think tomorrow is assured for you, you maybe lying to yourself.

The few that focus on financial stability at a young age are the wise ones because earning money keeps getting difficult as you age, which is why a person needs to stay prepared for the future so that if they live through their young age, they will need to have some back up when they are old so that they don't need to struggle at that age because you can't drag your old bones to a workplace to earn a few bucks every month and that happens only if you don't prepare when you are young.

That's why, there is nothing wrong with enjoying yourself while you can but one shouldn't completely lose focus on their goals and stop thinking about their future because if you don't build up your future when you are young, you are going to have a very hard time when you reach that age.

More money is needed at a younger age. When we are young, we may want to buy many things or there may be more things we want to do. Even if we cannot achieve all of these in the time we want, we try to achieve a certain part of them. In addition to all these wishes, investing in the future is also extremely important because we need to invest in our future in order to live a comfortable life as we get older.

Investing in our future and giving up doing some things today requires sacrifice. People who can make this sacrifice usually achieve their goals. Nothing is easy and it doesn't have to be easy. That's why we need to strive and sacrifice to achieve our goals.

I agree with your view that savings protect people from many dangers. Savings also protects us from many unnecessary things. In this way, saving can provide us with the opportunity to take advantage of the opportunities that come our way.

Well, that's true, that makes more sense, parents have an important role in a child's life because they are the only ones who have the obligation to educate their children to have good behavior and discipline in their lives, one of which is by teaching them how to save and also by providing an understanding of the importance of saving, and if a child is never taught to save at all then it is clear that one day when they are older they will not have balance in terms of finances, they will be careless in allocating their money and never think about urgent matters which are basically It is very possible that something will happen at some point in the future that will force them to spend money. On the other hand, as you said, it is true that today's parents pamper their children more, always obeying whatever the child wants and what is clear is that this will only make a child always live dependent on other people, especially their parents when they grow up. .

Currently, everyone's lifestyle is changing in the world and therefore a competition is being created among everyone, as a result of which people are more interested in buying mobile phones, cars, motorbikes by taking more loans instead of saving. Savings is the most important job of a person because savings can save a person from any danger. Those who fail to manage money properly in their youth struggle in old age because money becomes more important than other things in old age.

I have seen many people who did not manage their money properly in their young age and did not make any effective investments, they lead a very difficult life in their old age. They can't provide proper treatment even in medical emergencies due to lack of money, so after seeing these experiences of others, one thing works in me that somehow I will continue to try to secure my old age at least not to have to worry about money.

It is difficult to control or manage finances at a young age because there are many temptations to fulfill needs that will drive current styles or trends.
I've felt that way and actually I know and understand the importance of saving while I'm still young, but it's difficult to do.
All experiences of oneself or others and also suggestions are needed, but all actions come back to self-awareness.

    Well you have a point at where you are driving at, this is why it is wise to apply smartness while saving, and note before you even consider saving, weigh up all the options, consider how much you’re earning first before you think of saving, because you can’t be earning peanuts in this inflating economy and hope to save for a better future. To have a good saving plan one need to have 2-3 streams of income so as to beat the inflation. If you are saving I believe investing into any kind of project shouldn’t be a problem. Hence, saving is good but you need to ensure that you at least able to beat inflation.
    The  right decision depends on your financial situation, not whether you save or invest, you should open a savings account if you plan to use the money within a year or two. And invest the money if you don’t need to it for five years and more, and you can withstand some capital loss. Money that you plan to grow aggressively should be invested for the long term. A person interested in investing might choose to invest in the stock market, exchange-traded funds, or mutual funds depending on his or her level of risk tolerance.

It's true that old or age is an absolute thing and can't fight fate but fate can change with God's permission even by improving the lifestyle of spending money and re-analyzing expenses and income every month, even so the most important thing is to be able to increase more income, of course the more income and reduce expenses can be with the services of a financial consultant and the person also still has to be paid .

For me, managing wealth can be done with the help of anything including YouTube etc. but to increase income is the work and hard work of each person. You can even save and follow clearer investments. Of course this will add to the portfolio. Because plans are like raw materials while maximum results include wealth, there are many supporting factors, behind proper management is also the need for finance that comes in smoothly and does not attract it for something consumptive, although human nature is shadowed by needs and desires that are beautiful in the eyes even if they are secondary needs;D

I belive one of the biggest mistakes people make in their youth is thinking they have a lot of time left so they can wait a couple more years to before they start investing. The truth is time passes by very quickly and the more you delay the day you start saving, the worse it's going to get down the road later. While you are young you can afford to save more money because of your lower expenses and this also allows you to create the habit of saving which is the most important.

It doesn't matter how much money you save every month, the important thing is being consistent for a very long long time. There will be good times and bad times throughout your life, but if you remain consistent with your saving this will guarantee you a safe net for when you get old and tired, you sure won't want to also be poor.

Everyone was young and everyone had big money but most of it was spent somewhere and was misused. Yes. The message you convey is correct and if possible this is done by young people today, the advice you convey above is very good and don't let our experiences that are wrongly set above also be felt again (repeated) even though there are glimpses of words like this we often hear. "Yes. When else can you enjoy it if not now"..

I think that is because of bad parenting. if children don't understand the importance of savings then it is because their parents never taught them that, which is very bad thing. parents should do their part properly and teach their kids importance of savings and financial independince at the time.
but sadly parents are nowadays so naive. they keep spoiling their children when they are young. but when they grow older and become burden over parents. then they start complaining that our childrends don't like savings and careless.

because most young people today, they prefer to enjoy their time in good activities because they know, when they reach the right age, they will find it difficult to manage their time because they are already focused on working and saving money.
We all have our own decisions in life, there are a few who while young, they prefer to be financially stable so they can retire earlier, but most just follow the normal flow of life

Yes true. But of course saving and investing on something stable is not a good thing as it might get affected by inflation. Bitcoin, real estate and precious metals will be the best investment for me that is future proof.

If only I knew it early about investing then I will surely be having a good status of life right now just like any other successful individuals around. Lucky for me I got inheritance from my late aunt and father so I think this will be my other future investment aside from Bitcoin and if things goes right I'll be investing in precious metals as well again because unfortunately, I sold my silver collections after the catastrophic event that had happened here in my place.

The process is something that we will definitely encounter, especially if we are not used to saving and investing, we must be able to adapt to our new habits. Yes, what you said can be one of the options to start investing, we can save first and then after accumulating we invest, or in other ways, for example dividing 2 money for savings allocation into 50% for saving and 50% for investing. Especially now to invest in bitcoin we don't have to have a lot of money, we can start from the smallest.
The younger generation must indeed think about this from the start, they must realize that they must prepare something for them to take in the future, one of which is by investing.

You're right indeed it doesn't matter the nature of your poor background but if you don't rise up in this 21st century,you'll end up in the slum's.You literally don't have to currently keep agonizing over setbacks or your past failures,just do the right thing because of what you're aiming at to achieve.Warren buffet says "if you can't find a way to make money while you sleep,you are going to work until you die."
  Success can be achieved at every point in time even despite your age.

That's right Sir and with the capital of $500, if we use to trade some coin we like and can also provide quite decent returns as long as we're careful and don't get emotional, especially now. It is highly recommended to only trade short patterns for a while, but if it is normal, we can buy and hold coins that are considered to have the most potential, such as BTC.

If there really is a result from trading, we can also use it to buy other coins from the profits from trading $500 capital as you said above and count it as savings in a different form, not fiat.

What is hard is when you are young, you do not think about the future all you want to do is play and have fun

I believe that at youth, we have to be financially responsible already even at a young age
We should teach kids how to save and only spend on what is worth and what they really need

I am still quite young but i want to be financially stable when I am older, financially free even so that i do not have to think or worry about myself and the people that i will be leaving behind

We all have to grow old one day. If you grow old, you won't have the energy to work. So to live a happy and peaceful life in old age one must save money in youth. You have to work hard in your youth, try to find your multiple sources of income. Earn more at a young age and don't live a life of luxury. Don't spend money in any unnecessary sector.  Save all money except household expenses.

I don't know how much inflation has increased in different countries. But the inflation in the country where I live is very high. In our country many people keep their saved money in bank, I think currently money should not be kept in bank. But the money should be invested in any different sector. For example, it would be better to invest in bitcoins and land or gold.