Saving don't make wealth - page 10. | Bitcointalksearch.org

darkangel11

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Quote from: Bravut on March 02, 2024, 05:14:19 PM

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.

I don't agree. Saving makes a huge difference and I'll prove it to you.

You earn 1k a month (currency of your choice). All the bills and food cost you half of it and you're left with 500 to have some fun, invest, save up, or spend on more expensive fun products, like some better clothes, travels, hobbies. If you put that 500 in the bank and save it all very month, adding to a savings account, you'll have 6k in a year and that 6k will then earn you 5% a year, while you keep adding to the pile.

If on the other hand you spend it on stuff, take your woman to a fancy restaurant, fly to a warm country for the weekend, you will go through that 6k and have nothing left in the end, so it makes a huge difference if you're a saver or a spender.

Mahanton

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Quote from: Ben Barubal on March 07, 2024, 02:53:30 PM

Quote from: Bravut on March 02, 2024, 05:14:19 PM

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is 'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
Let discuss this guys..
No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.

Well, this is for my opinion, and it's just an opinion. When you are in crypto and you are a long-term investor, when you accumulate Bitcoin or any of the top crypto in the market for a few years that you don't sell, it is worth it. You are making savings for your future. This is different from our usual savings, which can be x10 up to 100x, and if you are lucky, even x1000.

And when that happens, you suddenly become rich; this is what is called holding a millionaire because you hold potential altcoins that are top-listed in the market.

Its not bad on being optimistic but we do know that becoming rich with just simply holding would really be definitely still needing up that significant amount that you would really be needing to be holding
specially if we do speak about those main coins like Bitcoin and some top altcoins in the market on which we could really be to assume out that their prices would really be shooting up but not something on
easy x10 or x100 on what we are thinking off. This is why some people would really be opting out on holding some altcoins that have less marketcap because they are really that hoping that they
could really be able to taste up some x100 or x1000 if they are lucky.

Its true that savings dont make money specially on fiat form but on the time that you would really be making use of it via doing investment then you would really be definitely be able to
utilize its usage on which you could really be able to make it as an advantage compared into those people who dont have some savings and this is one of the benefits once you do have this.

Ben Barubal

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Quote from: Bravut on March 02, 2024, 05:14:19 PM

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is 'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
Let discuss this guys..
No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.

Well, this is for my opinion, and it's just an opinion. When you are in crypto and you are a long-term investor, when you accumulate Bitcoin or any of the top crypto in the market for a few years that you don't sell, it is worth it. You are making savings for your future. This is different from our usual savings, which can be x10 up to 100x, and if you are lucky, even x1000.

And when that happens, you suddenly become rich; this is what is called holding a millionaire because you hold potential altcoins that are top-listed in the market.

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Quote from: mamesso on March 02, 2024, 11:41:21 PM

Actually saving and investing have the same goal, but they are distinguished by different concepts and play an important role in achieving a level of financial freedom within a certain time.

I totally agree with this.
Through savings, we can put money away in a safe place for future purposes,
on the other hand, investment ensures that the money will grow in the future.

Actually, both are important for our future. In savings, there is less risk but in investment, there are some risks. However, you know "no risk no gain". If we want to achieve something in our future then we must take some risks. So it is clearly said that savings and investment make our financial statement strong.

BITDV

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"Saving don't make wealth" in some case I agree with those statement. But we can not make wealth without saving.

I prefer to invest in altcoin which has cheap price, I'm not really want to save in crypto, I just saving in fiat and deposit in bank, and if I got interest I buy altcoin.

Volimack

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Savings will help in better future risk but the biggest problem for fiat currency is that if you save in the bank linked to the country's economy many people have bad time. Bank people don't want to pay on time. When the value of Bitcoin was low those who invested earned more profits and gains than savings. The bank is not giving much profit now and has reduced the profit margin a lot. With the increase in price of bitcoin investment is becoming more fun and most people prefer bitcoin as savings.

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Quote from: Bravut on March 02, 2024, 05:14:19 PM

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.

Actually investment is more reliable than you think. Though it might be difficult to some people because they believe saving it in the bank will be the best option, not knowing that the fund kept in the bank are like your source of income generated revenue being trapped In a cell call bank, which they use for business such as loan. It is advisable to use any money you make to invest and make profits rather than saving in the bank . There are many investment plan which includes bitcoin investmet, real estate, or buying of land because land also has a volatile.

bayu7adi

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I know the root of this problem is actually inflation. What if we make it simple, like we only have to save in Bitcoin, not FIAT? Yes, in some countries it is very difficult to spend Bitcoins because there are restrictions on transactions, but I'm sure some people in all countries have Bitcoins that they keep, because it is online based.

Bitcoin as savings is what I have been doing for the last 1 year, and it really works. I always feel hesitant when it comes to selling the Bitcoins I have accumulated, because I already enjoy a small profit from the price increase. It's like psychology, where as I accumulate more and more Bitcoins, it makes me less and less want to sell them now. Yes, only an emergency would make me sell Bitcoin.

Until now, most of my savings have been in the form of Bitcoin which I have accumulated since the price of Bitcoin was around $25k-$30k...it's also quite fun holding BTC rather than holding FIAT in deposits.

Oasisman

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Quote from: southerngentuk on March 06, 2024, 12:58:26 PM

Saving money might not make you a billionaire overnight, but it's like having a financial superhero cape ready for action.

It won't turn you into Iron Man, but it can shield you from unexpected expenses like car trouble or a surprise medical bill. These things can feel like a financial sucker punch, but with a savings safety net, you can weather the storm without going into debt or selling your investments at a bad time.

So, don't underestimate the power of saving. Even a small amount can make a big difference down the road. It's like having a financial bestie who's always there to catch you when you stumble.

Though I have to agree with this statement, but you should always consider putting a portion of it to bitcoin to somehow protect your money against high inflations. Savings alone would only bring your money's purchasing power in a constant downward motion. I'd have like 60-40 split off my money intended for savings and investments, this way either of both can protect each other from any unknown circumstances. Savings will play a huge role with your bitcoin investments, because savings will be your go-to fund it times of emergency and will protect your bitcoin holdings from any unplanned withdrawals.

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Quote from: Bravut on March 02, 2024, 05:14:19 PM

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is 'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.

Saving will not make someone richer, but saving is seen as quite important as an effort to avoid financial chaos. The productivity of money will be much more appropriate if it is placed in investing or building a business because the money we have can generate profits compared to saving which makes money continue to lose value. Create a percentage of savings and use the rest in a much more productive place so that we can make a profit from the money we have.

Quote from: Bravut on March 02, 2024, 05:14:19 PM

So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.

The more you place money on good prospects, the greater the chance of earning. Bitcoin is one of the places to make money and it must be done with the right knowledge so that one does not lose. If the profits in bitcoin are used for other methods of making money it is also good so that we have some income that can provide profits. It is important to look at the level of productivity resulting in profits because the smarter we are at placing money, the true income will also increase.

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Quote from: coinerer on March 06, 2024, 09:42:18 PM

Savings keeps one's wealth stable and sometimes reduces wealth and the reason for wealth decline is inflation and that is why instead of saving money should be invested in a potential asset that has the potential to increase as well as maintain wealth. Inflation is increasing day by day due to which if one is saving in FIAT money then the value of his savings is decreasing every year. So savings should not be given too much attention. Everyone should always keep track of where to invest according to their wealth.

I think it's important to do both saving and investing, because if we only do one thing, such as investing and don't have savings, of course we won't be able to invest well because it's possible that when investing, we experience emergency needs and we don't have savings. To be able to meet these needs, of course we have to take what we have invested to be able to meet the needs we need and if we only save, of course this will reduce the value of the savings we save when inflation occurs, so it would be better for us to be able to do both. This is so that we can enjoy it when our retirement arrives.

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Quote from: Bravut on March 02, 2024, 05:14:19 PM

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is 'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
Let discuss this guys..
No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.

Savings keeps one's wealth stable and sometimes reduces wealth and the reason for wealth decline is inflation and that is why instead of saving money should be invested in a potential asset that has the potential to increase as well as maintain wealth. Inflation is increasing day by day due to which if one is saving in FIAT money then the value of his savings is decreasing every year. So savings should not be given too much attention. Everyone should always keep track of where to invest according to their wealth.

Orekelewa Ade

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Saving brings about investment, so I would say saving leads to being wealthy.
Taking it down, one wouldn’t start an investment just like that it is the savings that would pull up an investment

It all depends on how much earned ,that, will determine how much to be saved and also how big the investment would be.
So saving is like trail track to being wealthy an investment doesn’t just come all of a sudden it starts with a step and “saving” is the step to investing and then boom! There comes wealth.

A mismanaged saving cannot raise an investment, once you have your investment target and with consistency you keep the saving going then the investment would be raised. Though most times challenges will come and may ruin the investment plan but then “never give up” comes in and consistency stands, investment will push through

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Quote from: reagansimms on March 05, 2024, 03:11:18 AM

If you are trying to set aside some money for savings, why don't you try going one level higher which can make your amount of money grow by investing?
Instead of saving which means the value of the money can be depleted by inflation, you should use a method that can provide future benefits by investing the money in Bitcoin.

If you plan to build a monthly savings of $100, you can also get Bitcoin with that amount. Bitcoin which can be purchased in smaller denominations can make it easier for you to invest your money by using the DCA strategy regularly, you will feel much greater benefits from investing in the future compared to saving.

Don’t just save, but also save a portion for investment. Saving alone won’t make you capable to gain higher interest of profits, but will only save you from those unpredicted emergency events. While saving can be a lot of help for us, but investing will help us yield more profits which may lead into building our wealth and securing our finances.

Don’t make it too hard on yourself. You can definitely save and reserve some spare money for investment. Just invest on what you can afford to lose, and invest only if you have gained sufficient amount of knowledge and skills that are required for a successful investment.

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Quote from: southerngentuk on March 06, 2024, 12:58:26 PM

Saving money might not make you a billionaire overnight, but it's like having a financial superhero cape ready for action.

It won't turn you into Iron Man, but it can shield you from unexpected expenses like car trouble or a surprise medical bill. These things can feel like a financial sucker punch, but with a savings safety net, you can weather the storm without going into debt or selling your investments at a bad time.

So, don't underestimate the power of saving. Even a small amount can make a big difference down the road. It's like having a financial bestie who's always there to catch you when you stumble.

Saving is highly as important as investing. However, we are talking here on building our wealth, not building our savings safety net. And the easiest way to achieve it is through barking on potential investments which includes bitcoin and the crypto space. But make sure you have to save first before trying to take risk in such investments. Investing with your hard-earned money and on the amount you can afford to lose is always better than investing through taking loans, so that if you lose them, at least you won’t have monthly dues that will make you struggle to pay.

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If you're rich already you either need to invest in other to get richer or to maintain your richness profile because your riches is evaluated by your incomes. If you fails to invest while staying confidence to your hodling of savings, it's like a dormant and a non living statusco which means there's no Possibilities to attain more income in addy to your portfolio. But if you Invest your assets nomatter how little it could be and despites your statusco whether poor or rich, your assets has the potentials to determine your future statusco and surely, if you Invest of a good digital assets like bitcoin and hodl for periods of time especially investing on a long term goal then there's hope and confidence to grow more to your riches or growing in riches as much as your bitcoin assets is growing to attain you incomes innq great rate

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Quote from: Bravut on March 02, 2024, 05:14:19 PM

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is 'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
Let discuss this guys..
No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.

Many people still don't realize that inflation weakens the money they save every year, so saving never does any good at all, it actually makes a loss, imo. However, as a form of preparation for emergencies, saving is quite necessary, in order to avoid difficulties that will be encountered, we will definitely be surprised if one day we need money for things like illness or accidents.

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Quote from: southerngentuk on March 06, 2024, 12:58:26 PM

Saving money might not make you a billionaire overnight, but it's like having a financial superhero cape ready for action.

It won't turn you into Iron Man, but it can shield you from unexpected expenses like car trouble or a surprise medical bill. These things can feel like a financial sucker punch, but with a savings safety net, you can weather the storm without going into debt or selling your investments at a bad time.

So, don't underestimate the power of saving. Even a small amount can make a big difference down the road. It's like having a financial bestie who's always there to catch you when you stumble.

I agree with what you say, because we will never know how long we can continue working and making money, and we will never know when disaster will befall us. Even though we don't want this, it can still happen in our lives.

And because of that, it is quite important for us to be able to prepare everything well, while we are still given health and the opportunity to continue making money, so use this opportunity as well as possible, saving is not to become someone who is rich, but saving just in case we are faced with an urgent need or when something we don't want happens in our life, such as an accident, for example, where the result of the accident makes us unable to return to work as usual. And when that happens in our lives, it is savings that will save us in that situation.

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Saving money might not make you a billionaire overnight, but it's like having a financial superhero cape ready for action.

It won't turn you into Iron Man, but it can shield you from unexpected expenses like car trouble or a surprise medical bill. These things can feel like a financial sucker punch, but with a savings safety net, you can weather the storm without going into debt or selling your investments at a bad time.

So, don't underestimate the power of saving. Even a small amount can make a big difference down the road. It's like having a financial bestie who's always there to catch you when you stumble.

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Quote from: reagansimms on March 05, 2024, 03:11:18 AM

If you are trying to set aside some money for savings, why don't you try going one level higher which can make your amount of money grow by investing?
Instead of saving which means the value of the money can be depleted by inflation, you should use a method that can provide future benefits by investing the money in Bitcoin.

If you plan to build a monthly savings of $100, you can also get Bitcoin with that amount. Bitcoin which can be purchased in smaller denominations can make it easier for you to invest your money by using the DCA strategy regularly, you will feel much greater benefits from investing in the future compared to saving.

When we are able to regularly save part of the income we have, of course we will be able to go up one more level to be able to maintain the value of the savings we have so that we can invest it by investing, then we will be able to make a profit from it and will also be able to achieve what we want. want after getting a profit from the investment, choosing to invest in Bitcoin using the DCA method is indeed very good and we have to do it well according to the plan we have made before investing and also we have to leave a little savings for emergency needs so that we can carry out the investment we do it well, because if we don't have savings for emergency needs then when we invest and need funds immediately then we have to take the investment and if the price is high of course it won't be a problem and if the price is low of course we will experience a loss on the investment the.

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