are you guys familiar of the one rule about saving. Its the 50 20 30 rule. The rules states that you should spend up to 50% of your after-tax income (only if you are working) on needs and obligations that you must have or must do. The remaining half should be split up between 20% savings and debt repayment and 30% to everything else that you might want. You can also use this 30 percent to invest on where are you planning to invest.
I would like to apologize because I myself didn't apply this rule. Its better to save to buy what you are wanting to have than investing it that you are not sure about.
Topic: Saving is Wasting? - page 7. (Read 2124 times)
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.
Day by day the value of money is decreasing and the price of goods is increasing, saving money is foolish now. a product that is bought for $100 today will cost $130-150 next year. but if you save money, money does not increase. $100 will remain $100 for life. but if you invest that $100, it will be more than $130-150 in 1 year. So it is better to invest the money in a potential asset rather than just saving it in that field. Saving money now is not a bad thing if you call it a waste.Spending money on education is not WASTING. You can consider spending money on education as your savings. Because education is your only personal wealth. The education you receive will be yours. And education will serve you every step of the way in life.
If you think about income then education is a waste of both money and time because you can't earn more than $200-300 a month by spending $20000-50000 and getting highly educated. Again 15-20 years of study is required to get higher education which is a long time. But if you do a business using $20000-50000 then it is possible to earn a high profit per month from here. But being highly educated is not a waste of money or time if you look at the respect/ prestige 
I don't really believe that saving is wasting, with my point, saving helps to reach and achieve plans towards a goal, many that save have plans and also have focus in life and they also desire to become something good in life and plan for their future, people that save have strong mind to becoming who or what they wanted to be. It also shows that those that saves have plans for Future.
I agree with you, I don't believe saving is a waste of time. It depends on how much money you make, some people make good money but have no savings. The worst scenario is when there is an emergency and you have no money to deal with it. Therefore, I always advise having at least some savings, no matter how small. I recall when I was in elementary school, I used to have a piggy bank that I used to save to buy whatever I wanted at the end of the year, ever since then, if you want to spend all of your money in one place, you won't hesitate to do it. Have the spirit of saving money in one area, since there are finance apps that do auto-save I saw a post like that it also helps. 
Spending money on education is not WASTING. You can consider spending money on education as your savings. Because education is your only personal wealth. The education you receive will be yours. And education will serve you every step of the way in life.
Since you are still a student, I think you should still fully focus on education. After completing your education, you will have various opportunities to invest. But if this age of education is over for you then you will not get this time back.
But if you can manage the cost of education as well as make savings then it is positive for you. But your main focus should be on education.
Since you are still a student, I think you should still fully focus on education. After completing your education, you will have various opportunities to invest. But if this age of education is over for you then you will not get this time back.
But if you can manage the cost of education as well as make savings then it is positive for you. But your main focus should be on education.
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.
A man's first needs education. This time must be spent on education and it is also true that there is also a large amount of money need for education. But I never want to encourage you to invest instead of education. You will definitely have the opportunity to invest at a time but it will be difficult to get back if it is lost that means education period. Moreover, spending money for education is also considered as investment. If you get a good investment opportunity along with education it must be acceptable.
If you feel comfortable taking on some risk and have done your research on potential investments, then saving could be a good option for you.
I think it's great that you are thinking ahead and considering your options for investing or saving. When it comes to investing, it's important to remember that it does come with some level of risk. While it can potentially lead to higher returns, there is always the possibility of losing money.
On the other hand, saving your money may not provide as much potential for growth, but it does provide a secure safety net for emergencies or future expenses.
As for limited side hustles, have you considered looking into online opportunities such as freelance writing or virtual tutoring? These can be great options for earning extra income while still being able to prioritize your education. Remember, if you prioritize having a secure emergency fund, then saving may be the way to go.
I think it's great that you are thinking ahead and considering your options for investing or saving. When it comes to investing, it's important to remember that it does come with some level of risk. While it can potentially lead to higher returns, there is always the possibility of losing money.
On the other hand, saving your money may not provide as much potential for growth, but it does provide a secure safety net for emergencies or future expenses.
As for limited side hustles, have you considered looking into online opportunities such as freelance writing or virtual tutoring? These can be great options for earning extra income while still being able to prioritize your education. Remember, if you prioritize having a secure emergency fund, then saving may be the way to go.
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.
Hmm, Saving is not at all wasting but Investing can be a better option you have a little amount of money that can be used in an emergency so my suggestion to you is just to save it because investments are a risky approach if you try to go for the trading it might put you in trouble to manage the funds for emergency and other means. If you can afford to take risks then you must try Buy and Hold policy for some time it might be good for you. No doubt that investments are useful in the future but if you cant even handle your present then how you are gonna survive in the future? Both are good but its the stage by stage matter of time, so First of all secure your Today and then think about Tomorrow, Focus on your studies.
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 the area of savings is not perfect then it will be waste. Otherwise I don't think that savings is wasting . But it is possible to invest in a good place, but only after your needs are met. And in this case, if you are a student and you have less money, then there is no need to save. You should manage your education expenses first. Then if there are anything to available for investing then you can put that on bitcoin investment I think it can be save your savings from going to the wasting. 
The whole point of QE is to make speculation and investment with greater bias, it was only supposed to be a temporary effect but what has happened so far is the QE is not reversed and cash loses some of its value forever. In that respect your savings interest will always likely be below inflation however the cost of not staying liquid and being able to pay all bills is a greater consideration but unfortunately you will lose some of the cash value pretty much always.
The one alternative I've heard of is an inverse mortgage which is where you save by reducing the balance of your housing debt for your principal residence. When you need to spend the cash you withdraw the cash back out and your mortgage balance goes back up. In effect you gain more from reducing debt cost then by trying to gain anything from savings interest, very often this is the best strategy if a flexible bank is ok with this operation and liquidity availability. I think businesses operate a bit like that with a credit facility which may not be used alot of the time but is used for stock when needed etc.
The one alternative I've heard of is an inverse mortgage which is where you save by reducing the balance of your housing debt for your principal residence. When you need to spend the cash you withdraw the cash back out and your mortgage balance goes back up. In effect you gain more from reducing debt cost then by trying to gain anything from savings interest, very often this is the best strategy if a flexible bank is ok with this operation and liquidity availability. I think businesses operate a bit like that with a credit facility which may not be used alot of the time but is used for stock when needed etc.
Many people say saving is wasting because saving doesn't generate any profit, it's strange if we still put large amounts of money in the bank, it's better to take it and use it to buy bitcoin and see in a year it can go up 100% or more, it's time we think for profit and do not look for a safe position.
Not everyone feels that saving is for profit, sometimes there are those who save just to buy something they want. The general perception of saving is saving money when they have money left over from their salary. I think the risk is the first point why someone doesn't want to start investing in Bitcoin, and besides that most of them can't wait to benefit from fundamental investments. Maybe this is what makes them just stay in their comfort zone.Most of the people who prioritise savings consider it as emergency fund. When we're in need we don't know how good will be our investment. Maybe it can be on profit/loss, if it is in loss it surely hurts and to avoid such scenario savings isn't wasting.
I don't really believe that saving is wasting, with my point, saving helps to reach and achieve plans towards a goal, many that save have plans and also have focus in life and they also desire to become something good in life and plan for their future, people that save have strong mind to becoming who or what they wanted to be. It also shows that those that saves have plans for Future.
Many people say saving is wasting because saving doesn't generate any profit, it's strange if we still put large amounts of money in the bank, it's better to take it and use it to buy bitcoin and see in a year it can go up 100% or more, it's time we think for profit and do not look for a safe position.
Not everyone feels that saving is for profit, sometimes there are those who save just to buy something they want. The general perception of saving is saving money when they have money left over from their salary. I think the risk is the first point why someone doesn't want to start investing in Bitcoin, and besides that most of them can't wait to benefit from fundamental investments. Maybe this is what makes them just stay in their comfort zone.
Many people say saving is wasting because saving doesn't generate any profit, it's strange if we still put large amounts of money in the bank, it's better to take it and use it to buy bitcoin and see in a year it can go up 100% or more, it's time we think for profit and do not look for a safe position.
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 am also a student, of course what you feel now I have experienced, where when the economy is not enough to meet school needs, there is always money to be spent/unexpected money, that's what I experienced, but I was lucky, while I was studying at university I worked part time and I invested a little income.OP, indeed as long as we are in college it is difficult to save money, there is always money to be spent, but if you try to think about it, my advice is investing in crypto is a good step if you think about it, now you think and now you have income from your campaign signature, meaning: if you set aside 30% of your income for investment it is a good thing for your future, remember where when you didn't have income you could save, now you already have income, so think about something for your future where someday the money you invest will have meaning. Let's just say that 30% money is dead, meaning: it can't be taken back, so don't think about taking it if it's an emergency, you have to have a target for your investment, remember we're not forever this.
In those financial literacy contents that I'm watching, they're always suggesting to have an emergency fund first before going on with any investment.
Like an EF that's good as 3-6 months worth of your salary then you may proceed to the next stage of having an investment.
That's just a suggestion from them you know what's best for you whether that small amount could be into your savings or additional EF or go directly it with an investment or asset.
Like an EF that's good as 3-6 months worth of your salary then you may proceed to the next stage of having an investment.
That's just a suggestion from them you know what's best for you whether that small amount could be into your savings or additional EF or go directly it with an investment or asset.
The fact remains that the ealier you start taking risk as a student, the strongeer you become to face the world after graduation, for me i will advise you should invest some percentage of the money you save.
I think this is high time for op to try something else at least trying getting a small job even though the one he would be doing when he closes from school. That would be a better alternative and it will bring more money to him. He can apply for work and be doing that in the night after school closes to makenextra penny so that he would have some casho to save and prepare for the time when there will be no fund at all. Saving is a good and those who had mastered the act of saving are in deed benefiting from it which is a very good thing to do now that he's he school with no one ready to help at the moment.
I will support your thinking, he should find a job that will be better than thinking about using part of his savings to invest. For students, the investment will put them under pressure, thereby affecting the learning process. They should only invest when they have enough savings as well as when the investment must be in a comfortable mood, without too much pressure.
Part-time work is something that I think any student should have, it helps them both have more income to cover their studies and have a better life experience. When they work as hired laborers, they will feel how difficult it is to earn money, from which they will try harder in their studies.
The fact remains that the ealier you start taking risk as a student, the strongeer you become to face the world after graduation, for me i will advise you should invest some percentage of the money you save.
I think this is high time for op to try something else at least trying getting a small job even though the one he would be doing when he closes from school. That would be a better alternative and it will bring more money to him. He can apply for work and be doing that in the night after school closes to makenextra penny so that he would have some casho to save and prepare for the time when there will be no fund at all. Saving is a good and those who had mastered the act of saving are in deed benefiting from it which is a very good thing to do now that he's he school with no one ready to help at the moment.
but not save so much - so that people become greedy and become their enemy
The fact remains that the ealier you start taking risk as a student, the strongeer you become to face the world after graduation, for me i will advise you should invest some percentage of the money you save.
I think this is high time for op to try something else at least trying getting a small job even though the one he would be doing when he closes from school. That would be a better alternative and it will bring more money to him. He can apply for work and be doing that in the night after school closes to makenextra penny so that he would have some casho to save and prepare for the time when there will be no fund at all. Saving is a good and those who had mastered the act of saving are in deed benefiting from it which is a very good thing to do now that he's he school with no one ready to help at the moment.
but not save so much - so that people become greedy and become their enemy
The fact remains that the ealier you start taking risk as a student, the strongeer you become to face the world after graduation, for me i will advise you should invest some percentage of the money you save.
I think this is high time for op to try something else at least trying getting a small job even though the one he would be doing when he closes from school. That would be a better alternative and it will bring more money to him. He can apply for work and be doing that in the night after school closes to makenextra penny so that he would have some casho to save and prepare for the time when there will be no fund at all. Saving is a good and those who had mastered the act of saving are in deed benefiting from it which is a very good thing to do now that he's he school with no one ready to help at the moment.
Saving is very important to everyone, why? Because it will help us in times of crisis or for the future. There are many ways to save. Some save through the bank, some also save in their own way such as piggy bank, vault and through investment. If saving through investment is chosen, it is uncertain or high risk so it is better to invest if there is excess income or what can be accepted in case of loss. If I am asked, it is better to keep cryptocurrencies that are stable like Bitcoin, there are also stakings or holding with interest that are offered by cryptocurrency exchanger but its a high risk.
As how the world works nowadays, there are so many options for you to choose from when it comes to savings, that is also my reason why I hesitate sometimes whether I'll save or invest since there are instances that today I have spare money, but who knows what will happen tomorrow or the day after tomorrow, and since there are also things I need to consider like education and other miscellaneous fees. At an early age I was already aware that I needed to make extra effort to escape our poor environment, aside from that I am aware how banks and investment work, but I also have to consider that one mistake will destroy everything I've worked so far and I'll immediately go back to square one. So I am really careful in terms of decisions in my life involving finance. Jump to: