Topic: Saving is Wasting? - page 4. (Read 1939 times)
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.
As students of course, we must be good at managing our finances, because we always feel many unexpected expenses so that with limited money, of course we are confused to manage it, so saving is very important and we must be able to find a side job in order to make savings for the future, and the saying you write certainly cannot be used, especially us as students whose income is still limited.
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 so you should invest with what you have instead of saving money. Because saving money can never expect to make a profit, you must invest if you want to grow money for the future. A lot of money is spent especially during studies and it would be better to save some money and invest it. Since you are a student, joining crypto investment along with your studies will make you money in the future. But you focus on your studies first and besides that you can invest. I also studied and also got hired in crypto because I want to grow my fund in the future from my little money. so it will be better for you to invest instead of saving money, then your various financial problems can be solved. 
Well no I do not agree that saving is wasting. But I do think it is all depending on your situation. For a person like you who is spending most of his money on his education I think it is normal to save you money that you have.
If we have only a small amount of money we should not invest it. It is just too risky and investment is for people that can afford to lose the investment. For you it is best to save your money for future expenses. If you have a emergency you will want to make sure you can afford to take care of that.
Correct. If it's only limited to short-term savings then it's not in vain. And saving is also necessary, such as to deal with emergency situations and the like. therefore we need to save money and set aside money to save and prepare specifically for emergency situations or for whatever we want in the future. But if it's for long-term savings, I don't recommend this type of fiat savings. because its value will continue to decrease due to the impact of inflation. so that long-term savings are more suitable to be stored in the form of gold and other things that can maintain value. but because OP seems to be just saving normally and not for the long term, I think he can save in any form. but I don't think there's anything wrong if the Op also puts his money in the investment. as long as he is okay if he suffers a loss. but he can also benefit if the market goes up. and only then can he save profits later.If we have only a small amount of money we should not invest it. It is just too risky and investment is for people that can afford to lose the investment. For you it is best to save your money for future expenses. If you have a emergency you will want to make sure you can afford to take care of that.
but if he can't accept the loss then it's not recommended for OP to invest.
Yes, with the inflation keeping up as well. Saving is becoming more than a challenge but then if you have a will in doing even in the least that you can.
It will be quite challenging if you want to save up for now, of course there are urgent needs that must be met, and that's what I feel myself for now. Indeed saving is quite important, but we must also be able to see our situation first, if it is not possible it is better not to save.
Well no I do not agree that saving is wasting. But I do think it is all depending on your situation. For a person like you who is spending most of his money on his education I think it is normal to save you money that you have.
If we have only a small amount of money we should not invest it. It is just too risky and investment is for people that can afford to lose the investment. For you it is best to save your money for future expenses. If you have a emergency you will want to make sure you can afford to take care of that.
If we have only a small amount of money we should not invest it. It is just too risky and investment is for people that can afford to lose the investment. For you it is best to save your money for future expenses. If you have a emergency you will want to make sure you can afford to take care of that.
Saving is not wasting, can I ask are you a self supporting student or do your parents still support your studies financially? If your parents still supporting you with your studies including your allowances, to be able to save some from your allowance bring some food from your home to your school so that you will not spend money to buy with your allowance. But if your allowance is not enough try to find other source where you can earn to help you save some. You can do online busines, or you can apply for an virtual assistant. Try to research on the internet there are a lot of side lines that are available for you to have an extra income.
Saving isn't wasting when there are investment plans for that money that you're saving although when you save to spend and that saved money isn't going to bring any returns home or you're using saving as a means of investing then you're doing it all wrong since inflation will make that money that you're saving worthless in the future. Saving wasn't wasting when fiats where fully backed.
But since fiats are no longer backed and the government can print any amount of money they want into circulation, it means money now has an infinite supply and there's no point of saving anything that has infinite supply since it'll be losing value as they keep increasing the supply in the market.
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 the only one that can make the right decision for yourself, asking people on here won't make any difference, do what you can, give your best, and leave the rest. If your education is the most important pls focus on your education, investment never ends, when the right time comes you will invest your money, but now since you are not making extra income there is nothing you can do than
1. Forget investment for now and focus on your education.
2. Find a source of income for you to be able to invest your money.
Investment is not a battle that must be won by all means possible, if you can afford it you should go for it, don't forget that it's very risky to invest money on crypto, you need to invest what you can afford to lose.
Do what you can and leave the rest, if you can't invest today it's not the end of the world, have it in mind that when the time is right you will invest.
Saving is not wasting, can I ask are you a self supporting student or do your parents still support your studies financially? If your parents still supporting you with your studies including your allowances, to be able to save some from your allowance bring some food from your home to your school so that you will not spend money to buy with your allowance. But if your allowance is not enough try to find other source where you can earn to help you save some. You can do online busines, or you can apply for an virtual assistant. Try to research on the internet there are a lot of side lines that are available for you to have an extra income.
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.
As you said that you consider little amount of your money, i suggest you to do not touch your education fund for investment while you must pay your education bill soon. you will be regret it if you lost your investment but you have to pay your education bill in hurry.your future plans and goals in life. Saving isnt wasting as long you do know on what are your priorities or simply does have the balance on something which you do really need. Its really that bad if you are really that neglecting out education budget allocation just because you are focusing into other side of things which you said that in the end you would be still needing funds when the time comes.
So better be prepared rather than on getting shocked.
Saving isnt wasting but it would be more worth if you do put it up on an investment to earn possible more income and make more savings but we arent that going in all in.
Always be mindful that there would really be things which you would be needing to allocate funds and save on it.
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.
As you said that you consider little amount of your money, i suggest you to do not touch your education fund for investment moreover if you must pay your education bill in soon. you will be regret it if you lost your investment but you have to pay your education bill in hurry. if you make a arranged portion of your saving for investment and education it will be better for your financial management. Especially in college, there's student's loans and they need to bring it with them until they graduate and find a job. There have been techniques of saving and saving a portion of 20% of your salary/income is a good practice.
But usually, it goes by 10% and the rest goes to expenses and everything and stuff that you need. Then, any amount or percentage you're able to save is actually a good progress because there are times that it's hard to do it.
But usually, it goes by 10% and the rest goes to expenses and everything and stuff that you need. Then, any amount or percentage you're able to save is actually a good progress because there are times that it's hard to do it.
Not a bad strategy. But in times like these, it's hard or almost impossible to save money because of ever-rising inflation rates. That's because you'd lose purchasing power with your Fiat in the long run. Banks' interest (savings) rates are pretty low compared against current inflation rates, so you're basically earning nothing in return. Bitcoin and Gold are better options, but they're often unstable at times (especially Bitcoin).
The OP is free to decide what to do with his money in the long run. As long as he doesn't spend more than what he earns, nothing could go wrong. Just my opinion
You'll still find a way to save even in small amounts. And I do agree that if you think that it's no use to save money in fiat then you alter it into DCAing through bitcoin.
Especially in college, there's student's loans and they need to bring it with them until they graduate and find a job. There have been techniques of saving and saving a portion of 20% of your salary/income is a good practice.
But usually, it goes by 10% and the rest goes to expenses and everything and stuff that you need. Then, any amount or percentage you're able to save is actually a good progress because there are times that it's hard to do it.
But usually, it goes by 10% and the rest goes to expenses and everything and stuff that you need. Then, any amount or percentage you're able to save is actually a good progress because there are times that it's hard to do it.
Not a bad strategy. But in times like these, it's hard or almost impossible to save money because of ever-rising inflation rates. That's because you'd lose purchasing power with your Fiat in the long run. Banks' interest (savings) rates are pretty low compared against current inflation rates, so you're basically earning nothing in return. Bitcoin and Gold are better options, but they're often unstable at times (especially Bitcoin).
The OP is free to decide what to do with his money in the long run. As long as he doesn't spend more than what he earns, nothing could go wrong. Just my opinion
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.
There are two reasons why we save money, 1. For future use, while 2. For emergency, and as a student I don't think it's impossible not to save no matter the hardship as you never can tell what might happen tomorrow. But moreover, as a student, your primary responsibility s number one priority should be your education at the moment, of which It will be irresponsible of you to buy bitcoin now when you haven't bought most of your textbooks. So on the contrary, I will like to correct you that Saving has never been a waste and can never be a waste, as it will surely assist you someday in the future. For a student it’s hard to save money because of many expenses.Student need to pay their fees for their academic and need to spend for their daily expenses.Being a student,they need to support their family partial.All can do of saving minimum of 20 percentage of their income.Because the saving will you,not even your brothers help at the needed situation.So better to save atleast of 20 percentage from your income and earnings.You should keep your savings in the crypto currency to earn more from the savings.
Especially in college, there's student's loans and they need to bring it with them until they graduate and find a job. There have been techniques of saving and saving a portion of 20% of your salary/income is a good practice.But usually, it goes by 10% and the rest goes to expenses and everything and stuff that you need. Then, any amount or percentage you're able to save is actually a good progress because there are times that it's hard to do it.
Since you are currently involved in education, you should focus more on education matters first. Because there is a certain age limit for obtaining each degree, after crossing that certain age limit, even if you want to, you can no longer study. If God keeps you alive, you will have lifetime time to invest but once the time you are spending on education is gone, you will never get that time back.
There's no limit to education or age limit to acquiring a degree, there could be an age limit to a profession or career that you want to achieve like been a medical practitioner or pilot, I believe at some age the university won't allow you to study for those career again but when it comes to getting a degree, there are no limit. You can get your masters, PhDs etc at any age.
You should never postponed your investing to later in future as you'll be making a big mistake by so doing, if you have spare money available, start investing today. It doesn't matter how small you start so in future you would have gather enough experience to help you make better investment decision.
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.
That is true it is hard being a student nowadays. Most of the students are still supported by their parents, that's why it is hard for them to save money. But if you will think of other ways to find extra income that would not affect your studies then do so. You can try to find online jobs that do not requires college graduate. I think there are a lot of online jobs right now try hard to apply and who knows you might get hired for the part time online job. Just showcase your capabilities so that the employer will be impressed. With that you will be able to save some. For the savings you can generate, it is best to invest it for a long term investment. But you should choose your investment wisely.
For a student it’s hard to save money because of many expenses.Student need to pay their fees for their academic and need to spend for their daily expenses.Being a student,they need to support their family partial.All can do of saving minimum of 20 percentage of their income.Because the saving will you,not even your brothers help at the needed situation.So better to save atleast of 20 percentage from your income and earnings.You should keep your savings in the crypto currency to earn more from the savings.
Saving should not be considered as a value by itself. You save for something important. And when you are young it could be so that investing in you, in your education, in your health can give you more in the future than couple of saved bucks. Reasonable investing in yourself is usually a good idea as this investment can sometimes give much more than any commercial project. If you are doing all you can for self-development and still have something to save then why not, but IMO it never should be in a part which needed for investing in yourself.
Since you are currently involved in education, you should focus more on education matters first. Because there is a certain age limit for obtaining each degree, after crossing that certain age limit, even if you want to, you can no longer study. If God keeps you alive, you will have lifetime time to invest but once the time you are spending on education is gone, you will never get that time back. And spending money on education is never a waste. Spending money on wasteful or illegal activities is money wasting.
If the money you have is not fully spent on your education then you can decide to invest but education is important for you first.
If the money you have is not fully spent on your education then you can decide to invest but education is important for you first.
For a student it’s hard to save money because of many expenses.Student need to pay their fees for their academic and need to spend for their daily expenses.Being a student,they need to support their family partial.All can do of saving minimum of 20 percentage of their income.Because the saving will you,not even your brothers help at the needed situation.So better to save atleast of 20 percentage from your income and earnings.You should keep your savings in the crypto currency to earn more from the savings.It’s essential one to save some money for your future as compared to empty pocket.
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