Topic: Saving is Wasting? - page 8. (Read 2119 times)

If you do still have the money for you to invest on then it would really be just right that you should be seeking out some financial advisor if you arent that sure on where you would be tending to go
rather than on wasting up your money and ending up on a failure because you didnt know on what you should gonna do. Investing money or making up diversification is always been that recommended
on which it would really be just that right that you should be careful in towards your actions because if not then you would definitely be experiencing those negative results or outcomes.
Saving is a default thing to be done and this is for the sake of emergency funds and also could be add up on your investment in case you do need up some funding.

Prioritize saving for emergencies and think about low-risk investing options like savings accounts, certificates of deposit, or government bonds as a student with limited resources and few chances for side jobs. Consider alternate investing opportunities like peer-to-peer lending or crowdfunding platforms while looking for methods to reduce spending. Consult a financial advisor or a reliable mentor for advice.

Savings helps but it doesn't increase your income or increase your bank account rather the bank will keep taking their charges for leaving your money in the bank, you can invest into bitcoin and you would get something meaningful at the end but there is every possibility of your investment increasing or decreasing but you must bear the risk involved while investing into bitcoin. As a students having saving is good but during my days at school, all my savings was used due to one problem and the other, so for me it's advisable you buy bitcoin and hold maybe you will be a bit limited having accessing to savings.

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.

Banks always win. They give you low returns, while they keep the rest of the profits for themselves. With rising inflation rates, your purchasing power will decline at a very fast pace. Saving money right now is not worth it. The vast majority of people are spending money to help cover life expenses, among other important things. That's because the global economy is deteriorating.

Crypto might be a solution, but with volatility, the risk of loss is higher. You'd have to make a balance between saving money in a bank or investing in crypto itself. These are highly-uncertain times we're living into, so expect the worst. Maybe there's light at the end of the tunnel? Just my opinion

Savings is applicable to anyone, even kids could save their money with any amount, as long as you don't spend it for a long time it could be considered as savings. Though investing your money than savings could benefit you a lot, but it also only apply to people with prior knowledge and skills about it. So for some students still doesn't have an idea how to invest would stick to savings for a long time. But for me, investing is better since your money is not at rest, therefore it do some work for you for your future which your money might increase or not. And some students can't afford to risk their money since they don't have any spare money to get funds for investing

I would call it sacrifices because saving is keeping something that will benefit you in the future, though I've got your point it is some sort of investment for your future so that you can find a good job and earn money eventually, but if we are talking about saving as a student in terms of money it is really difficult but it doesn't mean you cant do it, you can save even just a small amount , keep cents or your coins in a piggy bank and open it in a year for sure you can buy a clothes on it

Put it in investment little by little maybe it can be done. but of course it can be done after the OP meets all his educational needs. and if there is still money left over then he can use the rest to invest. but spending money on education is not a waste because it is also a form of investment in other forms. investment in the form of knowledge and skills is also needed to achieve success in the future.

It's mind-blowing what you said about how inflation cannot be halted, buddy. The well-known Greek philosopher Heraclitus reportedly remarked that "Change is the only constant in life." Another shift that we must come to terms with in order to survive is inflation. It is wise and advantageous that you have a plan to adjust things in order to withstand the storm. Instead of leaving it in the hands of the powerful, let's take charge of our finances. To demonstrate that we can succeed even when awful things happen, we will invest our money in several locations

Inflation is inevitable and its understandable that on the time that you do need to consider out on having that investment on which saving up tons in bank wont really be that a good idea which same as you said that buying power do becomes even more lesser as the time go forwards.Im not saying that saving is indeed wasting but we shouldnt really be focused on saving up purely or 100% because we know on what
are the disadvantages when it comes to this manner. You should be wise on making out diversification as much as possible because with this you could be able to sustain no matter how
bad the inflation would be on the future years to come.

First off, make sure when it comes to financial advice you're getting it from someone who's qualified to do so.  As a financial advisor I (like for most others here) am always willing to lend a hand. 

There's a lot of factors that come in to play here, so without asking more question I (nor anyone else) can give you sounds advice/suggestions. 

That being said, from just what little I know about you and your situation..being in college I wouldn't worry too much about your long term savings.  Unless you're older, you've got a lifetime to make money to save for retirement.  Keep some savings on the side in case something happens (try to shoot for 3 months worth of living money) and the rest should go towards your daily spending/paying back your student loans (if you have any)...

Again..I , nor anyone else can give you proper suggestions without knowing more.

I don't think you have a lot of money, so there's not much point in saving it - inflation does its dirty work, and purchasing power is losing every day. The most sensible thing to do is to find a more or less reliable investment option. Do not immediately chase a large profit - first you need to find an income option, and then think about increasing the profits.

Saving is good - but one should not save more than that is needed.
One should live a good life and have some emergency  fund to payoff the bills during the time of need.

All investments cannot be profitable, it also happens that an investment can be unprofitable or not bring any profit, but there are those that bring good profits, the average return on investments comes out good. In this regard, savings is not the worst option, since this will be our reserve capital, which an experienced investor will always find where to apply.

Savings is what allowed me to create a start-up capital and start investing, so I will never consider it a waste of my time. I'm happy for people who have money to invest, but I had to start from scratch and that was a viable option for me.

Investment and saving are broadly two different things, and we should have both, in savings/savings we should take a little or half of our savings to invest, but investing is a job that has risks and of course if we want to do Our investments must be demanded to be prepared with all the risks that exist, therefore it is very important to understand the risks of investing and this is where there may be a few obstacles for a student, management is very important here.


I think this is more focused on investments that are already very trusted, in general I am more dominant in Bitcoin, of course they know about Bitcoin, and I think this is the most dominant place for people to choose and it is safe to invest. After all, investing in Bitcoin is highly recommended in the long term, the risk is also smaller than in some other places, fully Bitcoin so far it is still very safe to make a place to invest.

The parable is the faster someone moves to do something, the faster he understands something. If in this case you intend to advise someone on an investment, I think it is right to use some percentage of the money you have saved, because it will also be better for him as long as he is very understanding of the risks.

But if he still doesn't really understand the risks and places to invest better, it is also highly recommended for everyone to find out these two things before immediately deciding to invest. Because a good investment is in a place that is really safe and really good and is also carried out in the long term so that the income can be felt more satisfactorily.

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 agree since I think Saving and Investing have different uses and it is both important to have. Saving is important to be allocated to things that is essential such as emergency funds and targeting on buying something. There is no increase of monetary value in saving since little interest of percentage is mostly given by banks; it is just what you put into savings. Investing is different since it is risky to take since there is no guarantee for returns. I agree that you should engage in investments when you are secured with your variety of saving accounts and you have extra money that you can risk without compromising your basic needs. So, both is really vital and you could start with savings and try to invest in the future.

I know Being a student is very difficult today because I'm also a student. After covid everything is twice the price where I lived and my university fees also become twice. I wish always that I have won the lottery. Because my job's salary is only enough to cover the day-to-day food and travelling cost. So I do web development as a freelancer. Every penny that I earn from freelancing goes into a saving account with a higher interest rate (24-25% interest yearly). Because I know every day is not Christmas, and there will be hard days/periods in life. But in the end, If someone is asking me if am I happy in this situation and I say totally yes. Because I invest in myself and I know one day this education or knowledge will save me from all the troubles. So remember education is always bigger than any investment and it can't steal by anyone from you.

But as in your situation, it might be best to focus on building an emergency fund through savings first of all. Once you have a sufficient fund then focus on different investment options that suit your financial goals and risk. Remember to start small and take calculated risks always. If you don't have experience seek the advice of a financial expert or a trusted friend or family member who has experience in investing. Maybe this forum will also help you in this matter because there are good people here.

What I want to tell you is never thought spending money on education is a waste. So don't give up. Because good education always is the key to your success.

Let's assume you will put your money on the bank and you will earn at least 3% interest annually. While you are expecting your money is safe, the banks will use your money to people looking for loans and the banks will give them 3-6 months time to pay with the same 3% interest. So in short, the interest rate that the banks pay to you are ones taken from whom they lend the money. Now, the banks earned 3% while doing nothing, and you at the same time is happy since your money is secured in the hands of banks. Also you must keep in mind that you will be deducted with the tax and your transaction fees, while those on the banks? No, they don't have to mind the tax, and if there's a situation where they need to pay tax, they'll just let other people pay for those tax without even doing anything.