Saving is Wasting? - page 5. | Bitcointalksearch.org

xSkylarx

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Quote from: Bollexz1 on April 19, 2023, 12:46:45 PM

One of the best ways for a student to save for future fortune is by going through investment, as an investment generates more profits. But it could be a little hard for someone who is not getting finances from family or relatives and that makes me a 0erfect example. As much as I love to invest, I find it difficult based on what I expressed above.

The only solution to this is to find a part-time job. This is really known to students right now who are less fortunate because they want to continue their education but their parents can't due to financial problems. Though for sure it is not that easy as you'll go through a lot, that is the time you can save and start investing in something you want. Again, it may be easy to say but difficult to do, but that is the only way to have that money for investment.

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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.

There are several solutions that could help you address this issue:

1. Look for part-time jobs or freelance work: Even if there are limited side hustles in your country, there may still be opportunities to earn extra money through part-time jobs or freelance work. Consider offering your skills or services online, or look for part-time work in your local community.

2. Start small with investments: If you have a little bit of extra money, consider starting small with investments. Look for low-risk options such as savings accounts or certificates of deposit, or consider investing in a low-cost index fund.

3. Focus on building an emergency fund: If you're not sure whether to invest or save your money, consider focusing on building an emergency fund. This will give you a financial cushion in case of unexpected expenses or emergencies.

jhayemcue08

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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.

Given your limited income and limited opportunities for side hustles, you may want to focus on building an emergency fund. This can provide a safety net for unexpected expenses, such as medical bills or car repairs. Aim to save enough to cover three to six months of living expenses, if possible.

Whether you choose to save or invest, it is important that you must have a plan in place for your finances. Consider creating a budget to track your expenses and income, and prioritize your expenses and savings goals based on your current financial situation. You must remember to be patient with yourself and your financial situation. Building wealth takes time and effort, but with dedication and planning, you can work towards achieving your financial goals.

Betwrong

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Quote from: Bollexz1 on April 19, 2023, 12:46:45 PM

One of the best ways for a student to save for future fortune is by going through investment, as an investment generates more profits. But it could be a little hard for someone who is not getting finances from family or relatives and that makes me a 0erfect example. As much as I love to invest, I find it difficult based on what I expressed above.

It is not necessarily so. Sure, if you are billionaire, you definitely should not sit on your money, and you should invest most of it in various assets and shares. But being a student, and not from a wealthy family, I think it's better for you to not play this games, the games rich folks are playing. The thing is, they can afford losing a million here and a million there, but, being in your position, you can't. For them losing a million may be like just a bump on the road, and for you it might be the end.

ichsan ardi

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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 agree with the saying that saving is a waste because with the current inflation I don't think saving is a good thing because our money does increase but its value falls I think we have to start setting aside some of our money for investing and we have to have an emergency fund before investing because all investments have risks that I think we should invest rather than just saving to make us survive in the future

Bollexz1

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One of the best ways for a student to save for future fortune is by going through investment, as an investment generates more profits. But it could be a little hard for someone who is not getting finances from family or relatives and that makes me a 0erfect example. As much as I love to invest, I find it difficult based on what I expressed above.

bosede1

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I just think if you are still a student you should get funding from friends and family unless you don't have any of such and you are the on;y one shouldering the responsibility, saving is not a waste in any aspect.

cafee_orange

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Quote from: Furious 7 on April 18, 2023, 03:15:59 PM

Quote from: cafee_orange on April 17, 2023, 01:10:24 PM

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'm not sure about the saying that the OP linked, I've never heard of a saying like that, and I think it can mislead anyone.
Precisely because saving you can avoid your waste, I think you have blamed the frugal ways of living, namely saving.
You can separate savings and investments, you cannot use your investment funds when you need them suddenly, but you can use your savings whenever you need them.

I think that in terms of saving is wasting only refers to a personal perspective because in my life I have never seen experts say that, let's say I didn't come across it, but when there is a statement about this, of course it will be a topic of conversation because this is clear. like going against the grain of the statement saving is something that should be done for better conditions.
And I quite agree with the concept of saving now considering that this is of course a pretty good thing to do, especially since we won't know what will happen to us in the future, so the anticipation in terms of finances by saving is definitely something that is really worth it.

in this case I agree more with your response, because we have different points of view so that sometimes we misinterpret.
as I said before that I do not agree with the OP's statement, where he said such nonsense. no one who saves feels that it is a waste.

Dickiy

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Quote from: JeffBrad12 on April 18, 2023, 05:37:03 PM

even though side hustle is limited in your region, you should regardless try since that's the only way you could increase your income then escape the saying of saving is wasting.
if everytime you're saving your money just got used for your basic needs, well there's nothing wrong with that since you really need it but honestly you gonna be stuck.
i'd say, try side hustle that can give you opportunity of offering something overseas, if your region is limited in side hustling, try learning new skills that could help you score some income without needing to offer it in your local region but target everyone oversea that needed your skills, that way you gonna earn quite high income yet still have time for learning.

Yes, don't stop because the sentence for a side business in your country is difficult and don't get hung up on the phrase saving is futile, it will only stagnate your finances and make no progress in the economic field, whether or not the money you saved is used is the answer why you should saving and investing to get a solution when the need arises and that's the main goal.
I think if you really want to have a side job you don't have to think that far if he is a smart person he can continue to contribute to this forum to gain trust and increase rankings and can apply to signature campaigns to get a side job and I think that's enough not bad and help me financially.

karmamiu

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Quote from: iv4n on April 19, 2023, 08:16:58 AM

Quote from: Sayeds56 on April 18, 2023, 09:28:15 PM

Quote from: kapalmabur on April 18, 2023, 02:58:40 PM

Saving is a form of how we think for the future, so I don't think it's a waste,
we can feel the benefits of saving later and that's how it is,
right, don't forget to do your research first because it's so important, at least to minimize risk.

I completely agree with your opinion that saving plays a crucial role in financial planning. In my opinion it requires a mindset which involves adopting a particular way of thinking to prioritize saving over spending and this mindset helps to bring about financial stability in the long term. The next step is to identifying suitable opportunities that can yield higher returns and outpace inflation. Bitcoin could be a promising option in this reward, with potential to reward better returns.

I guess it's all about yielding higher returns and outpacing inflation. "Saving is Wasting" when we save in fiat currencies (even saving with some interest will not do the work). Try to remember what you could buy for 100 (Dollars, Euros, Francs, or any other fiat currency) 10-20 years ago, and what can be bought for the same amount of money today. In Serbia, the prices are crazy higher than in 2010-2011, and some products skyrocketed with a +500% increase.

Yielding higher returns is always risky, and crypto is one of the better options I would say. It's been doing very well all these years, and people can start even with small amounts. Gold is probably a lot less risky, but it will not yield some high profits with small investments, but it's better to have some gold for the long run than any fiat, that's for sure.

This is true since I have personally experience it when I was given a few hundred dollars by my aunt who came back overseas and was told to keep it for my savings, if it happens that I kept it right now, for sure it will become as a collection not as something that has value since that piece of paper would lose it's value once they'll change the dollar, and since I resided in a different country I couldn't exchange that easily even with the help of banks. Adding the fact that I don't have any options to where I can save my money so all I did is keep it in the bank.

Mame89

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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.

Basically the best investment is education. Even though it may seem difficult to spend a lot of money on educational expenses, the results obtained from this education will be far greater than the costs incurred.

Because Investing in education can open doors for us to better careers, wider opportunities, and higher income in the future. In addition, education also helps us to improve our skills and knowledge in various fields, which can help us face challenges in this increasingly complex world.

You have to get used to saving and reducing expenses, set aside some of your money for saving or investing. If you have little money to invest, start with small, achievable investments. You can start by keeping your money in a bank account that provides interest or bitcoin investment. Keep saving and investing little by little, and it will pay off when you accumulate future bitcoin investments.

iv4n

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Quote from: Sayeds56 on April 18, 2023, 09:28:15 PM

Quote from: kapalmabur on April 18, 2023, 02:58:40 PM

Saving is a form of how we think for the future, so I don't think it's a waste,
we can feel the benefits of saving later and that's how it is,
right, don't forget to do your research first because it's so important, at least to minimize risk.

I completely agree with your opinion that saving plays a crucial role in financial planning. In my opinion it requires a mindset which involves adopting a particular way of thinking to prioritize saving over spending and this mindset helps to bring about financial stability in the long term. The next step is to identifying suitable opportunities that can yield higher returns and outpace inflation. Bitcoin could be a promising option in this reward, with potential to reward better returns.

I guess it's all about yielding higher returns and outpacing inflation. "Saving is Wasting" when we save in fiat currencies (even saving with some interest will not do the work). Try to remember what you could buy for 100 (Dollars, Euros, Francs, or any other fiat currency) 10-20 years ago, and what can be bought for the same amount of money today. In Serbia, the prices are crazy higher than in 2010-2011, and some products skyrocketed with a +500% increase.

Yielding higher returns is always risky, and crypto is one of the better options I would say. It's been doing very well all these years, and people can start even with small amounts. Gold is probably a lot less risky, but it will not yield some high profits with small investments, but it's better to have some gold for the long run than any fiat, that's for sure.

Aanuoluwatofunmi

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Only that that have have the opportunity to make some savings from their earnings will say that it's a waste of time, also those that wasted efforts on saving things that are irrelevant will always find a means of discouraging others from having savings after relating everyone to have thesame in experience they had, just simply because we got envious of what we don't have from those having good results or intentions towards it.

Sayeds56

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Quote from: kapalmabur on April 18, 2023, 02:58:40 PM

Saving is a form of how we think for the future, so I don't think it's a waste,
we can feel the benefits of saving later and that's how it is,
right, don't forget to do your research first because it's so important, at least to minimize risk.

I completely agree with your opinion that saving plays a crucial role in financial planning. In my opinion it requires a mindset which involves adopting a particular way of thinking to prioritize saving over spending and this mindset helps to bring about financial stability in the long term. The next step is to identifying suitable opportunities that can yield higher returns and outpace inflation. Bitcoin could be a promising option in this reward, with potential to reward better returns.

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Quote from: JeffBrad12 on April 18, 2023, 05:37:03 PM

even though side hustle is limited in your region, you should regardless try since that's the only way you could increase your income then escape the saying of saving is wasting.
if everytime you're saving your money just got used for your basic needs, well there's nothing wrong with that since you really need it but honestly you gonna be stuck.
i'd say, try side hustle that can give you opportunity of offering something overseas, if your region is limited in side hustling, try learning new skills that could help you score some income without needing to offer it in your local region but target everyone oversea that needed your skills, that way you gonna earn quite high income yet still have time for learning.

Try and try until you do succeed and this is the issue on most people is that on the time that they dont really see any progress, they do just simply stop and quit without even trying to go further.

This is where you would be able to differentiate to those who do succeed and to those who do stand still on their status or having no change at all because they arent really doing the hard work or taking up the risks. Saving isnt wasting if you are really that wise on taking up some step because if not then you would really be having no progress at all.

Saving is for the intention for emergency purposes but we know that it is really also could be used on investment too on which you could really be able to have some other income source.

JeffBrad12

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even though side hustle is limited in your region, you should regardless try since that's the only way you could increase your income then escape the saying of saving is wasting.
if everytime you're saving your money just got used for your basic needs, well there's nothing wrong with that since you really need it but honestly you gonna be stuck.
i'd say, try side hustle that can give you opportunity of offering something overseas, if your region is limited in side hustling, try learning new skills that could help you score some income without needing to offer it in your local region but target everyone oversea that needed your skills, that way you gonna earn quite high income yet still have time for learning.

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Quote from: cafee_orange on April 17, 2023, 01:10:24 PM

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'm not sure about the saying that the OP linked, I've never heard of a saying like that, and I think it can mislead anyone.
Precisely because saving you can avoid your waste, I think you have blamed the frugal ways of living, namely saving.
You can separate savings and investments, you cannot use your investment funds when you need them suddenly, but you can use your savings whenever you need them.

I think that in terms of saving is wasting only refers to a personal perspective because in my life I have never seen experts say that, let's say I didn't come across it, but when there is a statement about this, of course it will be a topic of conversation because this is clear. like going against the grain of the statement saving is something that should be done for better conditions.
And I quite agree with the concept of saving now considering that this is of course a pretty good thing to do, especially since we won't know what will happen to us in the future, so the anticipation in terms of finances by saving is definitely something that is really worth it.

kapalmabur

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Quote from: siniminomorocomunisakito on April 18, 2023, 03:32:43 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.

Saving is not a waste. Having a savings account can provide a safety net for emergencies or unexpected expenses. It is important to prioritize your immediate needs before thinking about investing.

If you want to invest, start small and do your research. Look for low risk options like mutual funds or index funds. Additionally, consider exploring online platforms that offer micro-investing opportunities. Remember, it's never too late to start saving and investing, even if only a little at a time.

Saving is a form of how we think for the future, so I don't think it's a waste,
we can feel the benefits of saving later and that's how it is,
right, don't forget to do your research first because it's so important, at least to minimize risk.

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Quote from: mvdheuvel1983 on April 18, 2023, 02:37:12 PM

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.

Its sad that the efforts you are making to save seems as if it is being washed down the drain. For now, if you can focus on your studies. Use whatever income you have to sustain yourself. Do not worry too much about saving because it may lead to financial anxiety and stress. Let your education be on the top of the list.

I agree that students need to focus on their studies but somewhat most students can't focus on their studies because they got no savings for their living expenses or got no money to pay tuition. If we're not born into a rich family we should save our daily allowance which will save us our need someday and not spend it meaningless. Investment may help you too if you find the good investment instrument while you're at school but keep in mind to use your money that you can afford to lose.

mvdheuvel1983

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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.

Its sad that the efforts you are making to save seems as if it is being washed down the drain. For now, if you can focus on your studies. Use whatever income you have to sustain yourself. Do not worry too much about saving because it may lead to financial anxiety and stress. Let your education be on the top of the list.

Topic: Saving is Wasting? - page 5. (Read 2119 times)