Topic: Saving is Wasting? - page 3. (Read 2124 times)

I can understand that being a student today is not easy, especially in terms of finances. However, I want to emphasize that saving is an important step in managing our personal finances. Saving is not a wasted act, because it helps us prepare an emergency fund and helps us for future education costs.

If you're finding it hard to save, there may be a number of ways that can help. First, try to make a budget and find out where you can cut your expenses. Maybe you can reduce the cost of food by cooking yourself, or find a cheaper alternative to transportation than using a private vehicle. In addition, try to find a side job, even if it's difficult because in your country there are difficult job vacancies, but there's nothing wrong with trying to find something more suitable for your study schedule, such as tutoring, writing articles or looking for a side income online like in this forum. After you have saved and still have money left over, then consider investing in bitcoin.

Because managing personal finances is all about understanding our personal financial situation. So, make sure that the financial decisions we make are in accordance with our personal financial situation for educational needs and for investment.

Regarding investing, it is important to remember that investing always comes with risks. While investing can provide a way to potentially grow your money over time, it is not a guarantee. As a student, it is also important to have a solid financial foundation and emergency fund before considering investing.

Any investment contains risks, even if it is an investment in gold or real estate, since you need to store gold somewhere so that thieves do not steal it, and real estate, as it turned out, is also not the most reliable type of investment, because it can happen that a war can start and you simply will not have time to sell it, because it will be unnecessary to anyone and may even be destroyed. The investments of the future are mobile investments that you can just take with you and leave in a couple of hours, bitcoin in this case looks very attractive.

Investments must be made together with saving, I mean because investing is long term so you will only be able to enjoy the benefits by continuing to save it for the long term and during that period we never know about life because there could be an emergency period where we need cash so we can use savings for emergencies without having to touch the investments we have. Often people fail in their investments because they do not have savings so that in urgent circumstances they will sell their investments even though they have not achieved what was targeted and it is even very possible to sell them at a loss.

That is how the tradional banking works and mostly people who saved substancial amount of money realized how hard it is to endure during inflation. If I were to choose investment way back years ago I'd probably choose saving on the bank, but in this day and age? No, I'll choose something that can have a store value such as gold or even crypto even if it is quite a risky gamble.

When money is involved, people tend to panic easily and cannot hold their own emotions. They are easily tempted either to spend that money or if they choose investment, they'd want something that has the highest ROI possible in shortest amount of time.

Saving money is never a good thing in the future. Because if you don't take the reins of life, success will never come, just as it is better to jump into a business or investment without saving money. There are many people who save money from their school life and later they invest that money in various online platforms. And many online products are bought and sold later at a profit. It is a good way to grow money but there are many people who save their money without investing it and never see any profit from their money. So they are never able to move forward in the future. To move forward in the future, one must invest instead of saving money.

Substitute the word patience for investment and that would explain most of it.   Long term consideration can lead to big gains eventually but not usually immediately, its very different from what is most of the trades we might discuss on this forum or elsewhere in crypto.  The ironic thing for me and quite surprising is that BTC is a long term dynamic to its gains, it can move rapidly but I get why people might say invest for BTC because of this longer term movement in value.
  In theory holding value in crypto would be a kind of saving, you arent spending it while holding BTC and theres a hope of deflation not inflation so a hope the unit appreciates in value vs continuing rising demand.  Saving a currency with big inflation is a type of waste, its not retaining value its losing it but everyone has to be able to plan for their debts properly also.  Inflation is destructive to an economy partly for this reason though in nominal terms the inflation can be confused with growth, its a very muddy view.

Being lazy at these situations is going to bring you nowhere. You're just wasting the time that's passing by by doing nothing and by being lazy.

Unless you're rich and you've got passive income, well, you all have the means to become lazy or at least they call it a rest day or a vacation. But if you're not into that situation, you have to do something that makes you at a better situation and will help you to finally save at least any amount everytime you receive your pay check.

Saving is a practice. Investing early but not having the right method only makes you bankrupt faster in the future. Get into the habit of saving and learning other things first. Your experience with money will help you realize that saving and investing go hand in hand.

everyone has different needs and also not everyone is able to set aside money to invest when their needs and income are balanced then what is produced is used up to meet all their life needs.
no matter how economical, if the needs are many and the income is small, it will not be balanced, therefore learning and working beyond the threshold to produce more is the first thing that must be done in order to be able to get what you want or invest in the future without having to save too much.
I think everyone has needs and wants and there is no other way to fulfill them than to work hard.

That's right, if you're a resourceful person, I doubt that it's impossible that you won't get an allocation for something you need.

Especially in our time, it is not possible to be lazy, we need to be strategic in getting sources of income that don't just focus on one source, we should have more than three sources, even if it is small, at least we have some income coming in.

Correct.

Saving becomes a waste of time and opportunities if you have the capability to invest it on something but you chose not to, and that's a choice. If I'm going to be brutally honest, that's really a waste of opportunities because rather than using your money in investment, you always chose to let it sleep on the bank while the bank gets take advantage from it, and you're the one who gets nothing.

But I guess it depends on the person, because to others, they are playing it safe so instead of investment they save it to banks or to their storage, but others prefer to risk it to know the results.

There is no doubt that it has become extremely difficult to get an education these days.Because the cost of education has increased so much that not everyone can afford to get a good education.Those who have a lot of money are not worried, but those who are financially weak are in trouble.But I have also seen students who do their studies in the morning time and work in a second time somewhere or make their investment somewhere and meet their education expenses from there.If you have money, you should invest it in a small business, a small car as a texi,Or do something that suits your area , and second time after your morning study, you should give time to it.In this way, you will be able to cover your education expenses with your invested money and will also help you to increase your earnings.

You can also invest in crypto currency but the biggest problem you will face there is that you may face loss while withdrawing your money at the time of need.Maybe the cryptocurrency you bought has already depreciated so I wouldn't advise you to do this.Because in cryptocurrency you should always use the amount that is more than you need and you don't have to withdraw that amount when you need it.

So invest your savings in a small business and use your expenses and savings from there.

It all starts with parenting and if you do have a parent which they had been molding up their children to be wise when it comes to finances then educating them while on early age would be the key.
This might really be not that really means that you are avoiding some expense but this is something that helps them on being molded to be a person who do knows about priorities and do knows on how to see
on how important saving is. Its not really that actually wasting because wasting is something literally means that you've been using up your funds into something useless, but this one?
You are really that making use of those funds for the sake of emergency funds and on the same time you would be making use of it on investment or other similar purposes.

It is really just a matter on how someone or an individual do really make use of those funds because some are mindful when it comes to future aspect and there are ones who doesnt care at all.

efforts to save from a young age is a pretty good action if parents apply the saving side to their children. in this aspect I think someone who has a soul to invest since he is still in education then it is a wise enough thing for him.

We must convey ideas like this to our closest relatives from the experience side that we have experienced. I mean if we succeed in getting other people to save from a young age, there will be a sense of pride for ourselves. One of them is to become capital for himself when he successfully completes his education period and he can use that capital to open a business. saving is one of the keys to success to become a rich person.

I see nothing wrong having plan of investing as student and their is no rule that one must have finish his or her degree first before looking into investment. A student who have already graft out a plan of investment will really be of good benefit after rounding up his programme in school. After I graduated from school I regreted not having plans of investment to do. This idea of investing helps one to be independent and not too relying in the government to provide job, so I don't think he is doing the wrong thing. He is just making a good plan for the future.

It can indeed be done, but when we can't invest, especially if it's certain for the long term, saving is clearly better than nothing.
Indeed, in terms of the advantages of saving more, we will not get multiple benefits, but the purpose of saving is actually not a matter of profit and loss, I think, saving is a condition where we set aside some of the money we have so that when there is an urgent need we don't have to be distraught to find a solution in financial because we already have savings that we collect.
especially when we talk about students who definitely need money, especially towards the end to fight for a degree. By saving at least this can also be said to relieve some unexpected needs in several conditions.
Investment is indeed very good if indeed we have more money to set aside but Investment cannot be taken carelessly, of course, because this takes time, but when savings are there, they can be taken at any time when we need them.

Yes exactly you are right because if a person has education then he can use it whenever the situations are against him. So study is important and if once a person completed his study he will be able to do everything and will be able to do job but if you do not have any education then business is just an opportunity for getting income but business has very risky as there is no guarantee of enhancing money.

Yes you can do that invest some money for future but don't leave you study until you completed your study. There are lots of jobs which are not possible without education but you can do every another business without education so first complete your education after that do the desired work.

Well, I guess even if you're in the hardest situation even with a few bucks then you'll be able to save.

But as you've said, this varies per everyone's situation and if you really can't and unable then there's no other option but for you not to. Or else if you want to, you'll find a way and another source of income for you to have that allocation.

Inflation will wipe out the value of your savings if I'm not mistaken.  It is purely a basis but would not be true in other situations.  Saving helps us not to depend on anyone, is the basis for step by step towards financial freedom with our own efforts through investment plan.  Saving has many benefits and in these tough times, everyone needs to save.