Topic: Save while young better than wait - page 5. (Read 3290 times)

You would really be only be able to see the importance of savings on the time that you would really be needing it but on the time that you are still on a good condition and you do still have the money to spend then you wouldnt really be caring at all on which you would really be that not minding about having savings because you are confident that there would really be no things that would be happening on you on which
this is a very wrong mindset because we do know that there's no such thing on this world would be permanent on which there would really be those things which we dont really expect.
There would really be those things or moments that we didnt really that anticipated that it could happen. What if it would really be needing up more that financial support?
And since you are someone who doesnt have that savings then you would really be able to see yourself that being fucked up on such situation.

Sure, we must allocate some of our income for saving. We need saving for urgent needs and for reserved money in the future. We can adjust how much to allocate for saving monthly, it shouldn't make us difficult to manage the money daily. For young people who still live with their parents, they don't have a pressure for the cost of foods and dwelling. That's why it is easy to allocate money for saving.

Asking for advice from old people (parents) is a good idea. They must know well about saving because they are already experiencing it. However, we also must learn saving from many sources, including from articles or books.

Saving while young is a good starting point, in the sense that your net worth is positive instead of in debt, but really once you've acquired a decent backup fund to get you through say 6 months of tough times - you need to start to think about investing instead. Saving rates are good at the moment and a very reasonable way to invest, but they are an anomaly compared to the previous 10 year period where saver rates fell below 1.5% per year. Compared to having your money invested in the stock market during that time, you would have lost so much compounding potential and the real world value of your money would have been eroded away if you left it in savings accounts instead. The point being that you need to be dynamic and flexible, adjusting to the financial opportunities that are available to you at the time.

If I'm not getting your idea wrong I might disagree with this opinion. Although people will say enjoy your money when you're alive cause no one knows what might happen next but let's not get this statement wrong and spend carelessly at a young age, at least when you're young and poor you can always change the story cause at that age you're healthy and fit to work hard but have you seen a poor old man without proper care and finance, no one should actually pray for this and even if there's a chance for such old man to work such person will not hesitate. Poverty is not something we should joke with even in our youthful age and old age, people actually create generationally wealth for their generation so this is a perfect example why you should never spend carelessly.

One way to achieve financial freedom or at least become financially stable is to invest, saving is not a solution because the money will never increase. When we understand well how money works to make money, We will probably abandon that savings model. The value of money will decrease, unless we save it in the form of assets such as gold, land, or buy property, otherwise we have to accept the fact that the value of the money we have will decrease drastically over time. Especially if a country has a history of high Inflation, Saving money using the savings model is a path full of risks.

Personally when I started learning how to invest in the world of Crypto, for now that is the only type of investment that interests me. That doesn't mean that other types of investment are not interesting, but I see opportunities to gain profits that are a little easier, depending on our level of understanding of market movements and other things involved. However, if it is in the form of assets, I will tend to choose to invest in gold, because the process of buying and selling it is easier than buying land or property such as a house.

We can't attain the financial freedom goal by saving since our growth will just stop there and the many we use for that reasons will be only use for emergency needs or other priorities.

But if we find more ways to find good multiple investments then be successful to get out on modern slavery life style and we can do all we want since we have freedom to decide for ourselves. But this can't be attained for short period of time only that's why people should work for it so that we can achieve this goal. I know many people want to be financially secured and free that's why we need to take action while we are young.

There must be some kind of incentive that will move you forward, for me it was the desire to be free, financially. I understood that this is what I need, financial independence so that I can fully manage my time as I want, and I understand that for this I need to achieve a certain capital that will continue to work for me while I can continue do your own thing and not depend on anyone or any work.

The sooner we start moving towards achieving our goals, the sooner we will achieve them. There can be no excuses when it comes to our freedom, in my opinion, this is the most valuable thing a person has, and each of us must take care of this on our own.

everyone want to be young and rich but not much of us could be achieving that dream, its kinda difficult dream to be realized, unless we are silver spoon but unfortunately the world generally made up of poor people as majority, thats why good share of us don't even have something to start with.
i mean i understand those influencers in youtube mostly are young enough and also rich i want to be one of them but I know that being a successful person requires to be in the right time and at the right place.
at least if we are well off enough when we are old, its already good enough, as he has said being old and poor feels like shit and I can see it from many people that went bankrupt when they are old there's quite literally nothing they can do.
just surviving and surviving, because world is unfair for those that are fragile and weak thats the truth.
one way to overcome this, pre planning from very early, pay all those pension funds, try to find good house to live in and so on gonna be tough journey but worth it also you will feel excitement along the way and im doing it.

Saving is a portion of income without spending it for a larger purpose later. Savings can be framed in a consistent relationship with physical investment. That is, the amount of income you can earn at a young age will gradually decrease as you grow older. Because as you age, your physical ability will also decrease.

For this, you can talk to old people around you. To see how much he was able to earn in his youth and how much he can make now in his old age will become clear to you. So instead of delaying tomorrow one should focus on saving now and earn as much as possible otherwise the cost of opportunity will become too much.

It doesn't matter because mistakes can mature a person as long as they want to continue to improve and I am also one of those people who have made mistakes in the past. Saving is important but as you said, don't just put money under the mattress because it's a shame that the money we have is not productive.

When people are able to take responsibility for preparing for their future, there must be strategic steps that must be taken. Invest in several assets for the future and see the opportunities for value growth, choosing bitcoin, gold and land may be the right choice, but to what extent the capital capacity we have can deliver these three investment models. If it's not ready then choose one to run first and set the next target if you have made a profit.

We should not wait because that is why people who have ideas and are creative make money faster and they also consider how to earn. The consideration of risk does not have to be greater than the desire to get out of the comfort zone because if people are too afraid they will never be able to progress further.

You've made mistakes, but who hasn't? This is about how you're fixing your mistakes today, not past ones. Yes, saving for the future is important, but it's more than just putting money under your mattress

Bitcoin is a personal finance revolution, not just an asset. You or anyone can get back on that train. The market's mature, but growth potential? Immense. Diversification and strategic investment are crucial. Avoid putting all your eggs in one basket, but don't disregard Bitcoin's golden goose

Your full-time and side gig? Part of the equation. But don't forget passive income streams and investments that work for you while you're not looking. Digital real estate like Bitcoin and other cryptocurrencies is fantastic too. They're not exclusive. Your income feeling insufficient is a warning to innovate, not stagnate

I hoped you would say young and rich for a category because, that’s where it’s the more enjoyable and everyone would want to be, young, healthy and rich. You find better ways to enjoy your money at that stage to life and achievements, have the courage to go into debt investments of the times too than when your old. When your old, it’s mainly about relaxing, responsibilities and don’t have much need for having a good time. You get to think about how to share and what would become of your legacies but, in all, you would have a sense of fulfillment.

For sure times really are fast, when you are already an adult you're going to realize that time is really just so fast and still you think you doesnt have enough savings or investment considering your already in middle age. This was probably one of my mistakes when I was still a student, even though I'm still a student I'm able to earn a huge amount of income in cryptocurrency and projects if you can remember we have ICO projects, and cryptocurrency trading and I'm able to earn a good amount of profit on that but my mistake and mindset that time is dumb, I kinda regret some of my decision at that time because in my mind it's okay to spend the money because it's still early I'm still a student soon I'm going to graduate and get a job that is when I'm going to save.

Not everything is not really smooth sailing unlike back then when I could easily good profit in just a short time, I mean I earn an okay income in my fulltime job and side hustle but its kind of difficult before even get that kind of money, and when I put savings I kinda feel like my salary is not enough anymore. Now there is a lot of for sale land near my area and I really regret not saving some today, if I just saved it until now I'm be able to buy land that is a good investment. My take here is not every time your going to have the opportunity to earn money, nothing is going to last forever so if your getting lucky today and earning a huge amount of profit or income make sure to always save for the future, while you still can.

One of the things I've learnt from watching Andrew Tate interviews, there's a particular one he said when you're young and still in your youth is the right time for you to get up, know what you want, be determined and make that money. It's better to wakeup and get rich while young than stressing ourselves in our old ages getting poor salaries from regular day jobs.

 There are lots of mature and old people who got rich in their old ages but still live in a bit of regret as they wasted their youth on irrelevant things. The time is now while we're still youthful, we need to kick out laziness and procrastination, put in hard work and efforts to get rich in our young days so that by the time we are old we get to live a more relaxed life and not be broke.

Of course everything is a process, but we need to follow that process with determination and strong will in order to succeed.

Yes I agree with you, as long as we have the will to be able to progress or develop which basically leads to positive things, there must be a way, therefore at a young age in my opinion we should be able to try in good things such as making money, of course with an adult age I myself am embarrassed if I still depend on my parents. Therefore at a young age I insist on making money by getting a decent job, because I myself have desires that must be completed, therefore I try as much as I can, also by having a job that produces we must be able to manage the money well. Dividing which is for our needs including snacks and also saving and giving some of the income to the family (parents).

That might be the case if young people really think about their future, in contrast to many young people today, they are reluctant to step out of their comfort zone even though it does not generate income for them, while the other side with their mature age of course my thoughts must also be mature. I agree with you that preparing everything at a young age is of course the best way to prepare for the future. Including marriage.

I totally agree with your words. What we have to do should be done in youth. When we have money in the present, we will have nothing but regret in the future if we spend too much for no reason without thinking about the future. Before spending money you must think about the future and spend in that range. Today we live in a time where it is more difficult to spend money than it is to earn money. So when you have money you try to invest it in good places and keep some money in savings for future emergencies. Saving too much money is also risky due to inflation. So even if you think about the future, you should invest your wealth in a good place.

When we want to try, there will definitely be a way to get sustenance, therefore we need to go through this process because Allah also tells humans to try and pray. The problem of getting married will be much more difficult when someone does not have a permanent job because usually the first five years of marriage are tested financially and unfortunately there are still many people who are unable to pass this test. A small income is definitely enough as long as it is stable because the problem is when people are unable to earn money to meet their daily living needs as a family.

Young people are more productive and have creative ideas to develop their potential, but don't be afraid of failure when starting out and children's dependence on technology can easily be used to make money. If at a young age he has been thoroughly prepared for all the processes for life, then when he gets married, life will not be chaotic because he has the option to support his family.

Rather than leaving the job but there is no guarantee that we can get another job, in my opinion it is better to stay employed even though the salary is small. A small, stable salary every month will be much better than a large salary that we don't earn regularly and is unstable, as long as we don't get another job then the decision to stay will be much better. Getting out of your comfort zone is indeed necessary, but it requires deep analysis of the decisions you make because if you make a mistake it can actually jeopardize your decision to make money.

Parental control when children enter adolescence is quite important because our character begins to form at that age. The role of parents is quite large in the child's growth process and if the education given is right then the child will be well directed on the right path, especially when talking about work. Because there are many parents who ignore their children and they demand that their children be more successful than them, but the parenting style provided does not support the child's success at all.

could it really be like that? Indeed, in my neighborhood there are schools for children who encourage them to save, but in my opinion, not everyone learns to save when they are young and when they grow up they become stingy people. This cannot be guaranteed for all children who start learning to save from an early age. If it's like this, I think that if you teach your child to save from an early age, it's the same as teaching your child to be stingy. Meanwhile, in my opinion, as a human being, don't be stingy as much as possible, because I think stingy people usually don't live a peaceful life. Occasionally I often experience difficulties with money, but even so, when I see a beggar I can't ignore it, so I give some of the money I have even though I'm in a phase of money difficulties, because I think kindness will definitely be rewarded in the future.

It's true that what you said by saving has benefits for the future, but I don't agree with the statement that saving from an early age can make them stingy people, because in my opinion this is about their thoughts and feelings when later they face real things in the future. before their eyes. Besides, I think parents will be proud of their children who like to share or help others, not with children who are stingy, unless their parents educate them to be stingy then parents will be proud of their stingy children.

That's right, usually people who learn to save from childhood will have good money management skills but are very calculating and will end up being stingy people lol. I have 2 small children and the older one will soon go to school, I have started teaching him how to save and save, don't be wasteful, I have taught him this since he was little so that when he grows up this trait will continue to carry over and make him have money and income which is stable.

Children have good memory and comprehension, so if you have children, immediately teach your children to save and also how to manage money well from childhood, the benefits are huge for their future.

The young ones don't even save again because they know that there will be constant supply of funds to there account from there parents or guidance. The way things are going, it would reach a particular stage that we might not have something to save because of the hike in price of things. People are barely feeding themselves because of the high cost of living.  Price of things keep going up and maybe the market sellers or stores are the ones that are benefiting selling old stock at current high prices.  Maybe things would have to be regulated so that people can at least survive in this current situation. Making money is become somehow hard recently especially in regions where there currency has no strong value.