Save while young better than wait - page 6.

Youngkhngdiddy

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Quote from: junder on February 16, 2024, 11:00:14 AM

In my opinion, there are very few young people who can manage their finances well and think about their future. In fact, in my opinion, many young people only think about temporary pleasures, where they compete to be stylish because they want the amount of praise they get, or maybe this only happens in my country. because in my country there are many young people like this, they tend not to think about their future until they spend their money just to be stylish and enjoy their youth full of fun.

That's true, in fact, in my opinion, if we are already married, we should have a steady income, because there are other souls that we have to support, such as a wife and children if we already have children. and I think having a steady income when you get married can be said to be mandatory. because if you are married but don't have a steady income, I think the household could fall apart. I agree with you, starting a marriage is the beginning of a life where we have full responsibility for those around us. therefore we must have a steady income to survive.

Well I think why most of the youth of our days stay idle or don't look for more source is not because they really want it but because some have little knowledge about what kind of investment they like to get into for them to keep more income coming in. but rather they go ahead making the little money they can just to be stylish and just to look the best, not having the thought of investing. Most of them get in search of money just to make name and fame, living fake life with the little they have and trying to cover up the shames.
But in my own views the money people earn or make should be used to make more to keep their families and future living in good shape, they should be thinking of how hard things are getting lately, they should also think of one thing everyday that making money is hard but spending it becomes very easy and it's really not good having the last couple of months chasing after something and all of it just vanished in a blow of a wind without making any good profit out of it or investing with it wisely. As a youth we are meant to use what ever we have to gather and establish more for our future ahead because we don't know what's ahead of us, so we have to save for rainy days as they normally say.

nurilham

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Quote from: LastKiss on February 16, 2024, 07:22:48 AM

Well, some of my friends didn't save at a young age because they wanted to enjoy their youth, many people who aim to have investments at a young age they're hoping their investment can give a financial freedom when they're retired. My friend said youth only happens once in a lifetime so they want to enjoy it without any regret because they miss their youth. As long as we can maintain our spending so we won't have any debt I think it's people choice.

Your friend is totally wrong, he doesn't understand about the investment purpose. Although we invest in the young age, it doesn't mean we ruins our youth. We don't invest all our money, we just spend the money that we afford to use for the investment. Sure, there should be some amount of money we use to enjoy the youth. We know that we must keep everything in right way, including about allocating the money for our needs. People can choose to enjoy their young age, but they don't forget to prepare their old ages.

Dewi Aries

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Quote from: terrific on February 15, 2024, 04:54:40 PM

Quote from: Dewi Aries on February 15, 2024, 01:30:27 PM

Many young people don't save, in fact they only use their money to buy things that are currently trendy that's not wrong, but it's just that because of that, they don't think about their future which they have to prepare for. This is the main problem that makes many young people can't save, because they only think about temporary pleasures.

That's wrong because they don't think their future and they're applying the principle of YOLO.
Yeah, it may not be wrong on their perspective but soon they will realize it that they have to be more serious with life when they become older.
It's not always green in the pastures and that's why they also need to save for the rainy days.

Times are getting more and more developed and most young people have a life filled with prestige, they have a life that is more directed towards prestige competition where if they don't have an item that is trending or being talked about then they claim that they cannot keep up with the times and prestige, this is the reason and mindset that is in their minds, as I said before that this is not wrong because they use their own money but maybe we are just worried about their fate in the future when they cannot change their excessive habits in youth. As we know that regret will always come at the end and maybe that's all they will feel someday when today they can't change their habits, and on the other hand this is also a reminder for us parents to teach and direct our children in terms of good money management and one of them by being able to save money and prefer to allocate their money to savings for future interests.

red4slash

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Quote from: ancafe on February 15, 2024, 10:06:40 PM

Quote from: red4slash on February 15, 2024, 01:47:32 PM

Because we tend to always have the thought that youth is only once in a lifetime so we have to try all forms of anything that invites our curiosity without caring too much about the money we spend or not.
This is more or less the same for everyone who has ever been young because this kind of thinking is always there including for myself where the thought is still simple, the important thing is to be happy with the way we play it is enough for us.

But this is definitely not a good thing but sometimes we can't avoid it. It is not a mistake to enjoy youth by doing whatever we want but of course we also have to know the rules and should not be too liberating to forget that the hope of an old life that we have to fight for so as not to be in trouble.

There is nothing wrong and maybe that is how most young people understand the process of their youth and slowly if they are directed correctly then habit will make them change slowly. In the past, I was quite lazy when he asked me to develop someone else's business and I spent more time on activities that were far from productive. But slowly my parents gave me encouragement and support, so I decided to help the business that my parents were seriously developing.

The upbringing pattern and style of parents educating their children is also quite influential because I have seen many children succeed when they follow in their father's footsteps. Even though at first they looked so lazy and didn't want to work seriously. If at a young age we don't prepare this then how can we possibly live under pressure when we get married and have children later.

Well there is nothing wrong with that but on the other hand this also backfires and becomes a regret that cannot be eliminated.
I worked for a few years in a very toxic pressure but with a salary that was not even comparable to the work I did but because I had a pretty memorable work friend I stayed in that job for a few years but after I looked for a new job with a more decent salary I started to think that sometimes getting out of the zone that is not too good and trying new things is not a bad thing because in the end we can still enjoy the youth we want while earning more money from the work we do.

I agree with saying parenting in this case because indeed this also supports to make our attitude whether it can be more directed or even become someone who is wrong. the role of parents is important besides that the environment also cannot be separated just like that because after all, with the role of good parents and a healthy environment it will actually make your personality change and vice versa when the environment is bad and the role of parents who do not have good parenting, this will make the situation worse and make our attitude become poorly controlled.

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Quote from: Rabata on February 16, 2024, 01:06:55 PM

Quote from: LastKiss on February 16, 2024, 07:22:48 AM

~~~

Time once gone never comes back just as money cannot be earned throughout life. There is a time frame for doing anything, those who can use that time to the fullest are successful. What I personally value is savings. I may have an opportunity to earn money today, but there is no guarantee that I will be able to do so regularly tomorrow. If something like that happens then we must know how we can control that time. We all know that life is not a bed of roses. The time we are thinking of enjoying is considered by many to be the perfect time to make a bright future.

Saving while you have a source of income is a wise choice, no matter what percentage of your salary you can save.
The main priority is of course meeting life's needs and the rest can be saved and invested. The goal of saving is not to become rich, but without saving you will not be able to target whatever you want in the short or long term.

Saving part of your salary is difficult during inflation, prices of goods are expensive and expenses are increasing. It's up to you how much you can save, the most important thing is that you have a budget to continue your plans in the short and long term.

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Quote from: Rabata on February 16, 2024, 01:06:55 PM

Quote from: LastKiss on February 16, 2024, 07:22:48 AM

Quote from: Strongkored on February 16, 2024, 01:44:40 AM

Quote from: paxmao on January 26, 2024, 10:41:39 AM

Look, you can be old and rich or young an poor, but being old and poor is bad shit.

A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.

Lazy people will have this mindset because they will not try to maximize all the possibilities that exist in order to earn more and start to invest, usually, they will use the words enjoy life even though if they do not start investing it is impossible to enjoy life when they are elderly unless they win the lottery because it is impossible to live only by relying on today's income for a better future, except by starting to save and invest to be able to beat inflation.

Well, some of my friends didn't save at a young age because they wanted to enjoy their youth, many people who aim to have investments at a young age they're hoping their investment can give a financial freedom when they're retired. My friend said youth only happens once in a lifetime so they want to enjoy it without any regret because they miss their youth. As long as we can maintain our spending so we won't have any debt I think it's people choice.

Time once gone never comes back just as money cannot be earned throughout life. There is a time frame for doing anything, those who can use that time to the fullest are successful. What I personally value is savings. I may have an opportunity to earn money today, but there is no guarantee that I will be able to do so regularly tomorrow. If something like that happens then we must know how we can control that time. We all know that life is not a bed of roses. The time we are thinking of enjoying is considered by many to be the perfect time to make a bright future.

You would really be that making those realizations on the time that you've seen that there's no such progress you do have in life when it comes to this situation on which you are really that making yourself that be able to miss out those opportunities just because you dont really have that able to dive in with those moments on which you do able to save up and something that pertains on having investment or other income sources on which those realizations would be kicking in on the time that you are really that facing up challenges in life on which it would really be giving out those thinking that
you should have done it earlier while you are still young.

Time cant really be taken back and those missed opportunities that you should have done it earlier but of course peoples success and life conditions
would really be always reflecting out on how they would be making out those earlier actions.

Rabata

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Quote from: LastKiss on February 16, 2024, 07:22:48 AM

Quote from: Strongkored on February 16, 2024, 01:44:40 AM

Quote from: paxmao on January 26, 2024, 10:41:39 AM

Look, you can be old and rich or young an poor, but being old and poor is bad shit.

A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.

Lazy people will have this mindset because they will not try to maximize all the possibilities that exist in order to earn more and start to invest, usually, they will use the words enjoy life even though if they do not start investing it is impossible to enjoy life when they are elderly unless they win the lottery because it is impossible to live only by relying on today's income for a better future, except by starting to save and invest to be able to beat inflation.

Well, some of my friends didn't save at a young age because they wanted to enjoy their youth, many people who aim to have investments at a young age they're hoping their investment can give a financial freedom when they're retired. My friend said youth only happens once in a lifetime so they want to enjoy it without any regret because they miss their youth. As long as we can maintain our spending so we won't have any debt I think it's people choice.

Time once gone never comes back just as money cannot be earned throughout life. There is a time frame for doing anything, those who can use that time to the fullest are successful. What I personally value is savings. I may have an opportunity to earn money today, but there is no guarantee that I will be able to do so regularly tomorrow. If something like that happens then we must know how we can control that time. We all know that life is not a bed of roses. The time we are thinking of enjoying is considered by many to be the perfect time to make a bright future.

CageMabok

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Quote from: IvugeoEvolutionCoin on February 16, 2024, 08:12:45 AM

Saving money is a very difficult task but if one thinks of saving money from a young age it is wise. Saving money is difficult but we have to save money. We can easily live with the money saved in case of trouble. There are some people who think of saving money but because of the extra expenses of the family it becomes very difficult for them to save money.

Difficult doesn't mean it can't be done by everyone, because basically everyone can definitely save according to their own targets when all problems have been resolved properly. This means that a family doesn't always have to spend a lot of money to meet their living needs. Because when someone who is the head of the family is able to plan his finances very well, surely at some point he will be able to save to make his family progress financially along with other things too.

tyz

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Quote from: paxmao on January 26, 2024, 10:41:39 AM

Look, you can be old and rich or young an poor, but being old and poor is bad shit.

A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.

All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.

Many people don't realize that you can already have a good pension with small sums of money without having to make major cutbacks as a young person.

Let's say a 25 year old saves $100 a month in an S&P500 ETF for 40 years. $100 is not that much money, or for most people it means that they don't have to limit themselves much in life, at least for most people in Western countries. The S&P500 has grown by about 10% a year the last decades. After 40 years you would have paid in $48k, but the value would be around $650k thanks to the interest rate. That's a good way to spend your retirement. If you now increase the monthly savings rate a little to perhaps $200 or $250, you would already have a fortune in the millions.

junder

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Quote from: ancafe on February 15, 2024, 01:11:20 PM

Quote from: junder on February 15, 2024, 04:06:45 AM

in my opinion, there are only a few young people who can manage their finances well, including saving money. many of them are wasteful in managing their finances. especially with today in my opinion many young people are competing to be luxurious in front of many people whose goal is to be seen by many people, which is none other than the goal is to get a lot of praise, even though not all views can judge well all luxurious styles. but what is clear is that wastefulness in youth is very unfortunate.

of course, if you are married, let alone have children, we should be able to have a steady income, because the needs will increase as well as the daily needs that will increase as well. therefore when at a young age, you must have a clear job and good money management in order to prepare for the future because if not yourself, who else is it.
as much as possible should save in youth for the future such as to deal with the economy when married.

Not a few young people are able to handle finances responsibly and they have a much more focused vision. I see several criteria for young people actually making targets in their lives, such as building housing to sell, developing a business or trying to invest in crypto in general. Most young people tend to live in luxury and they are unable to manage their finances and a luxurious lifestyle is usually carried out by those who do not have a clear vision in their lives.

A steady income is really needed when someone is married and if they don't have a permanent job that can make money then their life will be much more difficult. That's why it's important for young people to make savings, invest or try to start a business so that gradually their finances become much more stable. Without preparing for this, their life after marriage will be much more difficult and the greater responsibility will make it more difficult for them to control.

In my opinion, there are very few young people who can manage their finances well and think about their future. In fact, in my opinion, many young people only think about temporary pleasures, where they compete to be stylish because they want the amount of praise they get, or maybe this only happens in my country. because in my country there are many young people like this, they tend not to think about their future until they spend their money just to be stylish and enjoy their youth full of fun.

That's true, in fact, in my opinion, if we are already married, we should have a steady income, because there are other souls that we have to support, such as a wife and children if we already have children. and I think having a steady income when you get married can be said to be mandatory. because if you are married but don't have a steady income, I think the household could fall apart. I agree with you, starting a marriage is the beginning of a life where we have full responsibility for those around us. therefore we must have a steady income to survive.

IvugeoEvolutionCoin

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Quote from: Abu-Naim on February 15, 2024, 10:50:41 AM

Exactly, but do you know that saving money is hard?
Everyone knows that saving at young age is the best, but we all follow trend and peer pressure which is the main reason why we no longer have time for saving for the future.
Some people will say that they will rather enjoy now because they don’t have full assurance of the future so that they can enjoy all they have before death visit them.

Saving money is a very difficult task but if one thinks of saving money from a young age it is wise. Saving money is difficult but we have to save money. We can easily live with the money saved in case of trouble. There are some people who think of saving money but because of the extra expenses of the family it becomes very difficult for them to save money.

LastKiss

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Quote from: Strongkored on February 16, 2024, 01:44:40 AM

Quote from: paxmao on January 26, 2024, 10:41:39 AM

Look, you can be old and rich or young an poor, but being old and poor is bad shit.

A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.

Lazy people will have this mindset because they will not try to maximize all the possibilities that exist in order to earn more and start to invest, usually, they will use the words enjoy life even though if they do not start investing it is impossible to enjoy life when they are elderly unless they win the lottery because it is impossible to live only by relying on today's income for a better future, except by starting to save and invest to be able to beat inflation.

Well, some of my friends didn't save at a young age because they wanted to enjoy their youth, many people who aim to have investments at a young age they're hoping their investment can give a financial freedom when they're retired. My friend said youth only happens once in a lifetime so they want to enjoy it without any regret because they miss their youth. As long as we can maintain our spending so we won't have any debt I think it's people choice.

Kliss

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You're absolutely right, because at younger age there are dreams you wish to fulfil or future you wish to feature in doing so for those dreams to be accomplished it's better you save from your earnings and have proper plan for the future. Younger people always have the mindset that there is time but time actually waits for no one. Its better to hustle at younger age then save from your earnings and plan to creat wealth for the future. alway make use of opportunities when it arises because there are time and moments when these opportunities do seize or you face difficulty what you have saved previously for the future is what will keeps going at times like this. Most young people are after immediate satisfaction and pleasure in the moment, having pleasure is not bad but with consciousness and not forgetting the aspect of savings in life, when you save and invest it keeps you going and make the future easy going.

Strongkored

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Quote from: paxmao on January 26, 2024, 10:41:39 AM

Look, you can be old and rich or young an poor, but being old and poor is bad shit.

A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.

Lazy people will have this mindset because they will not try to maximize all the possibilities that exist in order to earn more and start to invest, usually, they will use the words enjoy life even though if they do not start investing it is impossible to enjoy life when they are elderly unless they win the lottery because it is impossible to live only by relying on today's income for a better future, except by starting to save and invest to be able to beat inflation.

ancafe

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Quote from: red4slash on February 15, 2024, 01:47:32 PM

Because we tend to always have the thought that youth is only once in a lifetime so we have to try all forms of anything that invites our curiosity without caring too much about the money we spend or not.
This is more or less the same for everyone who has ever been young because this kind of thinking is always there including for myself where the thought is still simple, the important thing is to be happy with the way we play it is enough for us.

But this is definitely not a good thing but sometimes we can't avoid it. It is not a mistake to enjoy youth by doing whatever we want but of course we also have to know the rules and should not be too liberating to forget that the hope of an old life that we have to fight for so as not to be in trouble.

There is nothing wrong and maybe that is how most young people understand the process of their youth and slowly if they are directed correctly then habit will make them change slowly. In the past, I was quite lazy when he asked me to develop someone else's business and I spent more time on activities that were far from productive. But slowly my parents gave me encouragement and support, so I decided to help the business that my parents were seriously developing.

The upbringing pattern and style of parents educating their children is also quite influential because I have seen many children succeed when they follow in their father's footsteps. Even though at first they looked so lazy and didn't want to work seriously. If at a young age we don't prepare this then how can we possibly live under pressure when we get married and have children later.

Dr.Osh

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Quote from: ChiBitCTy on February 15, 2024, 03:13:53 PM

As a financial advisor is is one of the most important lessons I try teaching my clients, save, save and save some more and do so as early on as you can. The time value of saving early, and letting compound interest build is immense, and will pay off in the long run. I meet with so many people whom don't start saving until later on in their career and it almost always turns around to bite them in the ass. If you wait, you won't have the retirement you want to have, plain and simple (unless you get lucky and inherit money or win the lottery).

I really agree that we have to start, we even need to create a strategy to save consistently every month. This is the same as the DCA method, but we use it to save. However, the longer we put it off, the more time we waste, and we unknowingly pass several years before we start saving.
Many people are confused about choosing investments and saving. In fact, if they manage their finances well, they can easily deal with this.

terrific

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Quote from: Dewi Aries on February 15, 2024, 01:30:27 PM

Many young people don't save, in fact they only use their money to buy things that are currently trendy that's not wrong, but it's just that because of that, they don't think about their future which they have to prepare for. This is the main problem that makes many young people can't save, because they only think about temporary pleasures.

That's wrong because they don't think their future and they're applying the principle of YOLO.
Yeah, it may not be wrong on their perspective but soon they will realize it that they have to be more serious with life when they become older.
It's not always green in the pastures and that's why they also need to save for the rainy days.

Stable090

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Quote from: shinratensei_ on February 14, 2024, 07:26:10 PM

those people are following the saying to enjoy this moment, you only lives once, but then again if we want brighter future we also need to be ready to suffer right now trying hard to build the future we dreamt of.

When you enjoy when you are supposed to be struggling, then you will end up suffering when you are supposed to be enjoying. In life, our early stage is supposed to be a stage that we are going to use to struggle because that’s when you are still energetic, and make sure you secure some investment for yourself that you can depend on when you are old and you can no longer do anything. I think that’s when we should be enjoying ourselves.

Most young people now just spend their money anyhow, they don’t even plan for the future, they just buy expensive cars, they flex their lives with women, they go to clubs. When you buy an expensive car and you end up going broke, you will end up selling the car just to maintain yourself, and if you date different women when you have money, they will end up leaving you when you are broke, so most young people are not just doing the right thing.

ChiBitCTy

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As a financial advisor is is one of the most important lessons I try teaching my clients, save, save and save some more and do so as early on as you can. The time value of saving early, and letting compound interest build is immense, and will pay off in the long run. I meet with so many people whom don't start saving until later on in their career and it almost always turns around to bite them in the ass. If you wait, you won't have the retirement you want to have, plain and simple (unless you get lucky and inherit money or win the lottery).

red4slash

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Quote from: ancafe on February 14, 2024, 02:23:01 PM

Quote from: junder on February 13, 2024, 05:50:15 AM

It's true what you said, if at a young age you can't save even though you already have a job, it will be difficult if you already have your own family such as a wife and children, because of course kitchen needs will also increase especially with children, expenses will increase too. Indeed there are still many people or people who spend their money on things that are not very important, so that it affects their finances. The thing that must be paid attention to is this, reducing unnecessary expenses. So it's possible to save money even with a small income. What's also important is good money management. Even if you have a large income, you can't manage your finances well, so it's possible that the income you generate could run out and end up somewhere.

Young age are usually more careless when it comes to saving and their habits are more likely to be extravagant when they have money, this is something almost many of us feel and maybe we are also in that condition. Age maturity in making choices usually depends on mindset and upbringing because this is shaped by parents and the environment. Trying to save expenses when you are young to develop any business is a way to make the road easier and when we are ready with stable finances then life will be better. The younger generation needs to create strategies for financial development problems and this strategy is difficult for the younger generation to achieve because they may not have responsibility and are too ignorant of the things that need to be done.

After getting married and having children, the problem of saving will become more complicated because we need to spend more and if we don't start at a young age, it will be difficult for us to reach a better stage of financial freedom. Forcing yourself to start saving is not a problem because it is for the future and requires careful preparation for us to achieve what we want.

Because we tend to always have the thought that youth is only once in a lifetime so we have to try all forms of anything that invites our curiosity without caring too much about the money we spend or not.
This is more or less the same for everyone who has ever been young because this kind of thinking is always there including for myself where the thought is still simple, the important thing is to be happy with the way we play it is enough for us.

But this is definitely not a good thing but sometimes we can't avoid it. It is not a mistake to enjoy youth by doing whatever we want but of course we also have to know the rules and should not be too liberating to forget that the hope of an old life that we have to fight for so as not to be in trouble.

Topic: Save while young better than wait - page 6. (Read 3290 times)