Topic: Saving is Wasting? - page 10. (Read 2119 times)

Saving is not wasting of time but the main thing is the selection of stable coin. One more thing is that you are student so when you involved in investment then you would not maintain your study which will be your big mistake. Education is necessary because there is not limitation of age for investment. First complete your study then surely involve in crypto trading.

But if you want to save money then save your money in Bitcoin for at least 3 or 4 year it will boost in price and you will be benefited from it. If you save it for future without investment then it will not increase but investment in Bitcoin can give you huge money in return. The market is not trustable so put money in Bitcoin and leave it for some years, after some years it will be perfectly boost up so take your advantage easily but first focus on study is important.

I agree with you, holding gold is not saving, it is an investment. But as you say, saving is a big mistake and waste. And you have no savings, only investments? And I want to know how you do in emergencies when you have no savings, and what do you do when the investment fails? In 2022, inflation affected everything, bitcoin lost more than 80% of its value, and tech stocks also dropped 30-50%, I really want to know how you lived without savings.
Savings and investments are both important and there is no winner in comparison.

Totally really different and its some misconception to other people on having that kind of belief or mindset on which they are really that saving up some money.Unless if you do it on fiat then its considered one but if not then it would neither be a business or investment that you are been holding off.This is why they do really differ when it comes to risks which we know that pure savings in fiat or whatever stable value it would be have zero risk but of course inflation is there, so its not really that totally zero. Speaking about savings then some do able to do so and some arent because of such insufficient income that they do have.
They cant able to save up that much or cant happen due to those circumstances and this is why they do missed out that opportunity.

Buying and keeping your money in gold is not considered as saving, that is an investment because it's an item that worth the value of your money, you may wish to redeem it into physical money or fiat to get profit or decide to sell it into loss, which ever you have at the end of the day, it will be considered as investment profits or loss. However, saving is one of the traditional or conventional way people love to keep their money and anticipation to use it tomorrow, the banks adopted this system and decided to use it as a financial tool to get money from people with little to none interest rate but inflation has  proven  it that it's a big mistake to save money, it will only induced low purchasing power after a while which is a bad the people.

Some people been suggesting on accumulating gold or making it as an investment, cant really deny that value do goes up higher as years passing but we know that there are other alternatives which we could really be adding up on where it could give out chance for us to earn more on upcoming years to come.As much as we could we should be finding ways for us to have other sources of income so that we could really be
able to provide on what we are needing in terms of finances.Savings does play a crucial role into our lives it isnt really just for emergency purposes but also for funding up for some potential
investment or business that we could possibly involved into.

At least we can save gold if we avoid the risk of crypto investment and don't save local currency in the long term because inflation will have an impact on the value of the currency to be low. But if in the future you want to convert your savings into bitcoin investment then make sure to buy to use the DCA strategy at a lower price and to get maximum profit you must hold the bitcoin portfolio in the long term to avoid external influences on fud that make our investment decisions change.

Savings in not waste of time, it's depends on what you are saving for.If you are doing savings without any purpose, then it's waste and if you are doing saving  for a purpose then it not waste.like for example when you're saving bitcoin in a long-term.you are saving it because he believes that one day Bitcoin will be in bull market for him earn enough money to become a rich boy/girl.then if you save money,let me say you are saving the money to further your education and feeding,any time you want to use it in unnecessary things you will think that you are saving the for a purpose,so I don't think saving of is not waste.unless you don't no you what are saving the money for,that where you will waste it.saving is one of the best thing that help person in life,if you save it in a  purpose.so if you doing saving save it well it will help tomorrow and in the future.

saving is not a waste if time. It all depends on what you are saving for so that you will know how you are going to plan it so that you will not end up losing all your money. There are some savings that are a big risk and if you do it you might land in the hospital because you will be very angry why and how you lose that kond of money without knowing.

Actually in terms of conditions as a whole I think the similarity is in saving because indeed both investment and savings both refer to one thing, namely setting aside money for the future or it can be said as old age.
The difference is only in the risk conditions as you say. Investing clearly has quite a high risk, it's just that it's directly proportional to the results we have if indeed our investment is successful.
As for savings, the risk is only in a condition where the value is getting weaker and weaker, but in terms of nominal or the amount of money we save, it is still the same, not reduced.

How sympathetic this situation is, it's like trying to kill two birds with one stone simultaneously. You having the thought of putting down an investment for yourself while still in school so by the time you must have been done with you would have something to start up with while hunting for a good job. But on the other hand, school can be so demanding and saving to keep for any emergency demands from school is quite superb as lack of money can lead to extra year(s) in school.
In my opinion among these two options you should just focus your financial on pushing yourself through school and get finished with it then investment can then come in, possibly you might even be with a  good job and invest better and bigger.

At the same time there is no better opportunity than risking something when your responsibilities are still at their lowest. I do agree that you should of course be able to pay for health insurance, but if you wait too long with taking risks I can tell you that new responsibilities come into play that could again keep you from taking risks. You need to strike the right balance here.

When you say you also used to be a broke student, I think that is a major problem. Education is expensive in many places around the world and usually it is so expensive that you have to get into debt deeply. Yes it is an investment in the future, but simultaneously it somewhat narrows down your options as you can't wait and see, but often times have to pay back right when you finish your studies.

The institutional environment is built that way. In order to take on certain jobs, you have to have a degree, and therefore you have to pay tuition fees and get into debt if your parents are poor. That is why I really like the freely available information and education on the Internet, but that still doesn't get you the degree you perhaps need in order to pursue one of your dream jobs.

A smart investment can put you into a decent position for the future. But again, there are basic needs that you should still be able to cover.

Definitely a discussion that warrants some talking to. As a former broke student your ability to save is directly correlated to how much you have, because let's face it, every single college student who doesn't have rich parents or a well-established wealth fund is frugal enough to survive in this hellhole. It all depends on how much money you have that you can save. Honestly speaking, I would really suggest you save first on your emergency funds rather than go ham on investments because you can easily do those when you're already earning more than what you have right now, while it is not unbeknownst to us that health risks happen at any day and age, doesn't matter if you're a student or a salaryman already, but it surely does hurt when you're still a student. In that regard, I think saving for emergency funds is much better considering your age.

Strictly speaking, saving is something that students need to do during school time because it will be very useful after graduation. At that time not everyone will find a job and there will be a lot of expenses to pay when you graduate. Investment is not a priority, but saving is much better for students.

For students it’s essential one to make the savings.Because after graduation you need some money for the business.Not all the people get job after the graduation,So life became very tough after graduation.Start with 10$ for savings,then increase the savings to 1k dollars.Then use that money in crypto trading to multiple the money and use that money for business.Because business will be the best for the youngsters for long run.

Well, I don't exactly know when was the last time I posted but as far as I can remember I was already a senior member when I returned with almost 600 activities. Maybe it is due to some threads that are cleansed before and TBH I wasn't really keen on ranking up that time coz I was mainly focused on maintaining my unburst post along with being busy at school. I was also actively participating with some campaigns before lead by yahoo.

Yeap I totally agree with you, it was a big lesson for me to learn not a regret coz I did it also for my own good. Thanks for giving me unbiased advise.

Saving always helps for improvement that leads to achieve you goals, which is been calculated, and secondly their is different between saving and investing, for the savings part, you can't have an increment whatever you store is what that will remain, why for investment you can make a profit with same amount of money you save, but the disadvantages that is involve for investment is that it can go against the market any day and any time and you get lost, not all investment that gives positive return.

But what really is the purpose of saving?
From my view, the major reason we should save money is so that money can save us when the time comes and you could save money today and tomorrow be in critical need of it and there is nothing wrong with using it for the right purpose without exhausting all of the money the previous day. People with their interpretation of things actually makes life easy for the common man who is trying to make ends meet and trying to keep up with thread.

I'm sorry for your country but there are already several opportunities online such as affiliate marketing, freelancing and lots more of them and you should also try as much as possible to take life and things easy as we're all passing through the life.

Regardless of the angle at which we are looking at savings, it's not totally useless, it's good, but we should know the proportion that is good for savings. Savings is good, and so is an investment, and there are savings that are automatically investments too, so it depends. Also, there are investments that end in losses, so we should not be too strict about this.

In both savings and investments, we should carry out thorough learning to ascertain we know what we are doing. If you are good with investments, you make money, and you need savings for other goals.

Since you are a student and you need money all the time to foot school bills and your personal expenses, if you have settled your time-pressing needs and have a little left over, that is what you are thinking of saving or investing in. You should always consider some things first before making any of these decisions: how long can you manage without those funds, and as you have said you hardly see side hustles to fetch you a small income, do you have sponsorship? If you are to invest this money, it will take some time before your investment can give you some profit, and sometimes you might be in need of funds before the exact time of your ROI. Or let's say you invested in crypto, and tomorrow when you need your capital to use it and settle some problems, you sometimes notice that the price at which you purchased it and the price at which you want to sell it are not the same, and because you are in need of money, you can sell in a hurry and record some loss instead of gain. For me, the best option here is for you to save, so you can get your hands on that cash whenever you need it to foot your bills. 

Life was never meant to be easy, from the set goal where life begins it all started with a race to survival, then here in the animal kingdom they say survival of the fittest, and this experience you are going through can be treated like a training ground to prepare you for the real world out there financially, emotionally, mentally etcetera..

Let's say it as it is, you can only save & invest when you have surplus resources not when these are in limited supply, what happens if you invest and your needs require some funds to be sorted out...all the time and resources that you put in that investment will be all for nothing best option is to set aside an emergency fund as you might know what tomorrow holds.

21 first century jobs have evolved, it's not always about the white color jobs anymore, you could get into the gig economy by learning some kind of skills say photoshop, art, article writing etc, and get jobs on fiverr or something and you will be paid for it... don't say "there are limited side hustles " you could be looking in the wrong direction...Good luck.