Saving is Wasting? - page 15. | Bitcointalksearch.org

TimeTeller

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Quote from: jostorres on February 09, 2023, 03:22:24 PM

Quote from: AbuBhakar on February 08, 2023, 09:00:14 AM

Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

In your case it’s not because you will need money any moment due to your school needs. Putting it on investment will just ruin your money profitability because you can’t get enough profit in short term on an investment unless you will enter a high volatility investment. Money shouldn’t be put always on investment, it highly depends your situation and needs about the about the money. Savings is very good if you need a sure money for an upcoming expenses while you are still not earning passively through your work.

Being a student is so demanding, not only in time but also in expenses. If he only have a small money then I won't recommend putting it for saving because there's a tendency that he just pull it out. Better if he can save it for a while so that he will have something to use for school purposes because our teachers can sometimes demand us a project.

Many of us finish our studies first before we focus on money making activities as it's more easier and doing so won't affect our studies, so my only advice to the students right now is don't rush things but they should enjoy their youths first because they will surely regret it in the future if they won't.

But they can always opt to save money as much as they can.
So whenever they need it, they are not desperate where to find money.
But don't stress yourself in saving if you don't have it. Just live within your means.
Now, when the times comes you can afford to save money, then do it diligently.
Lucky if you can still keep some money while studying, not many students can do that these days.

jostorres

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Quote from: AbuBhakar on February 08, 2023, 09:00:14 AM

Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

In your case it’s not because you will need money any moment due to your school needs. Putting it on investment will just ruin your money profitability because you can’t get enough profit in short term on an investment unless you will enter a high volatility investment. Money shouldn’t be put always on investment, it highly depends your situation and needs about the about the money. Savings is very good if you need a sure money for an upcoming expenses while you are still not earning passively through your work.

Being a student is so demanding, not only in time but also in expenses. If he only have a small money then I won't recommend putting it for saving because there's a tendency that he just pull it out. Better if he can save it for a while so that he will have something to use for school purposes because our teachers can sometimes demand us a project.

Many of us finish our studies first before we focus on money making activities as it's more easier and doing so won't affect our studies, so my only advice to the students right now is don't rush things but they should enjoy their youths first because they will surely regret it in the future if they won't.

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Quote from: RockBell on February 09, 2023, 11:20:50 AM

I don't actually agree that saving money is a waste in any way. As a student, you have a lot of expenses related to school needs and maintenance, so it is preferable to have modest savings instead. Education is crucial and something you cannot do without, so keep calm and remember that life is a process and you will benefit from all of your hard work in the future.

Saving is not a waste but it can be economical for other needs including education at the school he is attending, if this becomes an important part then save so that education can run well and I am sure that in this case there is not a little money to be needed so save for an education is important!
I believe that after the education process is finished, our lives will be better because with this settlement, there is no need to worry about investing late, basically we will lead to this after the education is finished.
But with education we will get decent jobs and good results for income.

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I don't actually agree that saving money is a waste in any way. As a student, you have a lot of expenses related to school needs and maintenance, so it is preferable to have modest savings instead. Education is crucial and something you cannot do without, so keep calm and remember that life is a process and you will benefit from all of your hard work in the future.

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Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Saving is really a waste when compared to investing because saving won't make you rich even your money will decrease in value due to rising inflation every year. That said, but saving is not entirely useless, it has benefits, such as using it for short-term work or for emergencies in life. Saving is good for the short term, investing is good for the future, so find a way to balance the two, both are important to our lives. If you want a perfect life, you shouldn't lack either.

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Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Saving and investing both have their importance. Your bank deposit is a safer liquid-able asset in case of an emergency need of funds and is a stable source of interest every month, compared to a cryptocurrency which is a high-risk difficult to liquidate asset.

You have to decide how much you are willing to put in savings and in what form and how much you want to put in investing both high risk and low risk assets. I would keep the investment to 10% maximum of my monthly income.

The major attraction to a high risk asset is the possible return on selling and that for a low risk asset is the safety that comes in the long run. Keep both types in your portfolio and you should be doing good. Try to learn about the asset too before investing and increase the types of assets in your portfolio with time. Dont be biased towards crypto which this forum members might opine for.

GideonGono

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Saving isn't wasted when you spend it on the things that you need.
Just think about it if you didn't have any savings and you need money for your school activities or something then it would be problematic for you.
Sometimes we feel that it is wasted because we keep on spending it on some emergency cases, and for you as a student I know how it feel I've been there and I know that those emergency payment for school could be shouldered by our parents, but think about it we are helping them by paying it pn our own.
By the way as a student there are so many opportunities for you to hustle, I once was paid for creating reports, project, research and even assignments for my classmates.

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Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

I don't think that saving is wasting because you are doing this for some reason. In fact, you can't invest without money that is why you save and make use of that money to start investing or anything that will grow your money.
But if we are doing this for a long time, all just about saving like saving them in the banks - that seems another story and we need to change that attitude because instead, we use our hard earn money to earn a profit, we just let the bank do it for their own benefits while sharing a little percentage to us depositors. If you can afford to invest and already have the knowledge of what you invest, then go for it as this will give you a fortune if manage well.

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Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

If you are still a student then it's still a better decision to save it for your emergency needs, who knows you might need it in the future. Your opinion could be changed if you are graduated from the school and you might want to start saving or investing depends on your ability to manage the money when you reach that point. Your education is important for your future dream job, so at least it's really worth it.

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Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

The only proven way to grow your money is by investing it into something that will generate large returns in the long run (or at least maintain its value over time). That's because inflation reduces your purchasing power over time. It has increased considerably since the start of the COVID-19 pandemic, so people who saved money back then basically lost their time. Your best bet would be to "save" that money into either Bitcoin or Gold for complete peace of mind. I'd recommend taking advantage of both assets/commodities for diversification purposes.

Even though central banks around the world have taken tough measures against inflation (especially The FED), things are relatively the same these days. So don't expect inflation to go back to pre-pandemic levels anytime soon. Just spend your money wisely, and you'll have nothing to worry about. Just my opinion

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Quote from: AbuBhakar on February 08, 2023, 09:00:14 AM

Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

In your case it’s not because you will need money any moment due to your school needs. Putting it on investment will just ruin your money profitability because you can’t get enough profit in short term on an investment unless you will enter a high volatility investment. Money shouldn’t be put always on investment, it highly depends your situation and needs about the about the money. Savings is very good if you need a sure money for an upcoming expenses while you are still not earning passively through your work.

I agree that your investment should not be your income, that is not going to be anything that would give you a good return. In that situation you will need short term results and if you can't get it then it is going to be a terrible situation for you. However, if you could end up with a good long term plan that you do not mess with? That should be something that could actually work for you and it could give you a better result and will give you a great return over course of long time.

I am planning my retirement with bitcoin, not many people use crypto for retirement, they use it for getting rich as soon as possible, but they do not realize this is their amazing and very profitable retirement plan.

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Quote from: Unbunplease on February 08, 2023, 06:29:16 PM

I believe that a person should have only liquid savings. For example, in 1991 in USSR was made the Pavlov reform. Each person was allowed to exchange only a certain amount of money for new money. Many lost almost all of their savings. So if your savings are not liquid, it is a waste of money.

That surely depends on where the OP is investing, I mean, yes, everything doesn't have assurance but somehow, you can minimize your risk by only investing on what you understand and more profitable while you aren't doing anything with that available funds you have.

Liquid savings is good especially for a student like the OP, but since he's willing to explore more depths then he should at least try investing towards crypto. That doesn't mean that he should invest big time, you know, small steps still makes a difference.

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Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Practically, in your case as a student, you should be saving fo your future first, it's too risky to lost money from any investments while you're still not earning for yourself. Studying and finishing your degree is also an investment, and that's what your supposed to be focusing on at the moment. Later, when you get a good paying job, you will be able to get extra money to invest to Bitcoin or any other forms of investments.

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Quote from: Razmirraz on February 08, 2023, 10:40:30 PM

Saving is worth it as long as you put your money in the right place, there are lots of investment media that you can choose to save money so that its value don't decrease.
Keep holding on until you become a scholar. Never count the amount of money spent while you are a student, focus on the goal of getting a diploma because it will make it easier for you to get a job after you finish college.

Most people save because they want to save money rather than keep it in their pockets, I'm sure no one has ever thought that saving money wants to get extra or bank interest, so when you feel you have a lot of money, you prefer to use it for investment, of course by saving money in the bank, it's more safer than keeping under the pillow.

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Like all generalisations, it is partly true and partly false. The truth is that as fiat money depreciates by leaps and bounds, by saving, you are throwing away part of your capital.

Quote from: Jawhead999 on February 08, 2023, 03:28:27 AM

Saving is wasting because every year fiat always inflated, so if you save $50 every month, which will be $600 in the end of year, but actually your $600 doesn't have same buy power like when you start to save, maybe it's already become $550, so you're always lose your money.

You can invest to stock, gold or Bitcoin, depends with your choice. You don't need to worry if you're need money in hurry, because you can sold it for instant, so you can use the money you invested for emergency needed.

The longer you have it saved without investing it, the more you are throwing away.

But there is a grain of truth, because it is always wise to have savings for what could happen: a car or home repair, or a medical emergency for example. For these and other cases it is convenient to have money available rather than invested, because even if you have it invested, we are in a bear market and you are forced to sell at a loss to obtain liquidity. As investments are volatile, fiat is better in these cases, as it avoids volatility.

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Saving is worth it as long as you put your money in the right place, there are lots of investment media that you can choose to save money so that its value don't decrease.
Keep holding on until you become a scholar. Never count the amount of money spent while you are a student, focus on the goal of getting a diploma because it will make it easier for you to get a job after you finish college.

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Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

You are a student. Sure you can try to keep your expenses as low as possible and save that way. But saving for the future while being a student for the sake of it is sort of pointless i think.
I have however met people who have saved money while studying but i am guessing they were taking that money from their parents.

I am assuming you are aiming to educate yourself for job that actually pays. Then there's time for saving and investing. Right now you need to focus on eating healthy, sleeping enough and exercising. Those are the things it's ok to spend on during while educating yourself. Because those are the things your brain needs to learn better.

Unbunplease

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I believe that a person should have only liquid savings. For example, in 1991 in USSR was made the Pavlov reform. Each person was allowed to exchange only a certain amount of money for new money. Many lost almost all of their savings. So if your savings are not liquid, it is a waste of money.

GreatArkansas

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There are some people who are telling with the high inflation rate we are experiencing now or past few years it is much better to spend than to save because the value of your money is depreciating or losing its real value, but I disagree with this because it's still better to save because it will help you on your difficult times or like in an emergency, if you don't want to lose the value of your money there are some platform that offers interest which even it's very low interest, it's still helping not to lose the value of your money.

Overall, SAVING is good for me, no matter what.

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Quote from: karmamiu on February 08, 2023, 12:26:59 AM

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Savings in the form of Fiat or anything completely backed by fiat is wasting and stupidity because over the time it loss its purchasing power so there is no point of saving them.

However even if you have very little you can invest it on gold for the sake of its stability and you can even buy one gram coin too anywhere in this world and it works perfectly for beginners and people with very little they can save.

Topic: Saving is Wasting? - page 15. (Read 2124 times)