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Topic: Saving one third what you earn monthly is not that hard, isn't it ? - page 2. (Read 3322 times)

sr. member
Activity: 812
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this is like a mindset that has been instilled for generations, therefore even though we have low income, we also have to suppress our needs so that we can set aside money to invest, moreover investing in bitcoin is very easy with whatever money we have we can invest. that way we will get a greater return and of course after that we can expand our money so that we can enter the middle class, and the rest we will become rich. but we have to go through the struggle even though we are looking for additional income from other work. especially if we are still in our productive age, so we have to try to change our destiny
whatever income we get, we can save it if we have the desire to do that.
actually saving is something that must be done regardless if the savings will be used for investment or other things, but what is certain is that it will be useful for the future.
and also to change one's destiny it takes hard work and also consistency, not everyone will remain in poverty if he has great determination to get out of it.
full member
Activity: 1526
Merit: 111
Pepemo.vip
spending to meet basic needs is a very important thing to pay attention to and if it has been fulfilled then saving is something that must be done regardless of how much income you get per month and if expenses are higher or just barely with your income then you can't be silent, you have to get out of it and look for additional income to be able to save.
saving is very important for future life and if someone knows the benefits of saving then he will do anything to be able to fulfill it, the important thing is there is a desire to save then it won't be difficult.
We have to try to apply for new jobs to earn extra income when we are still productive for any job, we have to take advantage of our young age to work hard for savings needs because when we are old we are no longer able to work and have to rest a lot to maintain our health. Many people do not prepare themselves for old age so that financial management is not organized because they have to work hard at old age.
The prevailing pattern of society is that middle income people save more. And for exactly the opposite reason, low and high income people save relatively less. High income people have high consumption and investment rates, so savings are low, and low income people face a challenge in daily living. But you are right, no one can work in old age they need rest. That is why it is important to save something for the future at a young age which will provide security in old age.

You need to find those ways to achieve your goals it is important to seek for more possible earning generating side jobs, though from how you percept the possibility middle-income people are also good in balancing their expenses, with good control of their spending they can manage to save more compared with low and high-income people, using that same argument,

With high income, the maintenance of their expenses is most of the time level to how they earned and same deal with low income. They are stuck with what they've got and it will just repeat the cycle of life for them.
this is like a mindset that has been instilled for generations, therefore even though we have low income, we also have to suppress our needs so that we can set aside money to invest, moreover investing in bitcoin is very easy with whatever money we have we can invest. that way we will get a greater return and of course after that we can expand our money so that we can enter the middle class, and the rest we will become rich. but we have to go through the struggle even though we are looking for additional income from other work. especially if we are still in our productive age, so we have to try to change our destiny
sr. member
Activity: 770
Merit: 266
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spending to meet basic needs is a very important thing to pay attention to and if it has been fulfilled then saving is something that must be done regardless of how much income you get per month and if expenses are higher or just barely with your income then you can't be silent, you have to get out of it and look for additional income to be able to save.
saving is very important for future life and if someone knows the benefits of saving then he will do anything to be able to fulfill it, the important thing is there is a desire to save then it won't be difficult.
We have to try to apply for new jobs to earn extra income when we are still productive for any job, we have to take advantage of our young age to work hard for savings needs because when we are old we are no longer able to work and have to rest a lot to maintain our health. Many people do not prepare themselves for old age so that financial management is not organized because they have to work hard at old age.
The prevailing pattern of society is that middle income people save more. And for exactly the opposite reason, low and high income people save relatively less. High income people have high consumption and investment rates, so savings are low, and low income people face a challenge in daily living. But you are right, no one can work in old age they need rest. That is why it is important to save something for the future at a young age which will provide security in old age.
Making preparations early from a young age is indeed a step that we must take if we want to get financial comfort in our old age. It's just that not all people can do it. such as low-income groups for example. usually the income they get is just enough to cover all basic needs. And to be able to save, they usually have to work extra to get additional income. And this can indeed be done if we have a young age and a healthy body.

So it is true that we should make the best use of our youth to work hard and try to increase our level of financial well-being. And prepare for old age by investing more in safe assets for the long term. have savings for a reserve fund and the rest i prefer to invest it. because with investment we can see our assets continue to grow by themselves. an example is in land property investment and the like.
legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
spending to meet basic needs is a very important thing to pay attention to and if it has been fulfilled then saving is something that must be done regardless of how much income you get per month and if expenses are higher or just barely with your income then you can't be silent, you have to get out of it and look for additional income to be able to save.
saving is very important for future life and if someone knows the benefits of saving then he will do anything to be able to fulfill it, the important thing is there is a desire to save then it won't be difficult.
We have to try to apply for new jobs to earn extra income when we are still productive for any job, we have to take advantage of our young age to work hard for savings needs because when we are old we are no longer able to work and have to rest a lot to maintain our health. Many people do not prepare themselves for old age so that financial management is not organized because they have to work hard at old age.
The prevailing pattern of society is that middle income people save more. And for exactly the opposite reason, low and high income people save relatively less. High income people have high consumption and investment rates, so savings are low, and low income people face a challenge in daily living. But you are right, no one can work in old age they need rest. That is why it is important to save something for the future at a young age which will provide security in old age.

You need to find those ways to achieve your goals it is important to seek for more possible earning generating side jobs, though from how you percept the possibility middle-income people are also good in balancing their expenses, with good control of their spending they can manage to save more compared with low and high-income people, using that same argument,

With high income, the maintenance of their expenses is most of the time level to how they earned and same deal with low income. They are stuck with what they've got and it will just repeat the cycle of life for them.
newbie
Activity: 39
Merit: 0
Saving a third of your monthly income can be a realistic goal, but it depends on factors such as where you live and your expenses. If you earn $3,000 per month and have moderate expenses such as rent, food, utilities, phone bills, travel, and occasional entertainment, it's possible to save $1,000.

However, it's important to consider the cost of living in your area and your personal financial obligations. It also requires budgeting and the discipline to save consistently to create a viable savings plan.
spending to meet basic needs is a very important thing to pay attention to and if it has been fulfilled then saving is something that must be done regardless of how much income you get per month and if expenses are higher or just barely with your income then you can't be silent, you have to get out of it and look for additional income to be able to save.
saving is very important for future life and if someone knows the benefits of saving then he will do anything to be able to fulfill it, the important thing is there is a desire to save then it won't be difficult.
Not hard to say but hard to do. Everyone's income is different as well as their needs are also different. It's hard to start saving, let alone saving from a third of my income every month. What happens is that sometimes my income for one month cannot meet my needs for the next month, so I have to borrow money to just survive.

maybe in the future I will try to manage my finances and set aside some of my income every month to start saving. And trying to find additional income to add to my savings. to answer future problems such as unexpected events (accidents) and to prepare for old age.
hero member
Activity: 2856
Merit: 644
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Personal preferences, expenses, and personal circumstances play an important role in determining their ability to save money. So changing negative habits and replacing them with positive ones can dramatically improve your financial situation and allow you to save for the future. Seeking professional help or support groups can be helpful in getting through tough times and developing healthier financial habits. Recognizing negative effects and taking steps to address and overcome such habits is an important part of regaining control of your finances and working towards your savings goals.
The point in this case is that we indirectly have to identify ourselves before deciding where we are going to plan in financial management.
Financial management is indeed important, but besides that, there is a plan that must be carefully prepared so that something like this can happen. Because indeed everything starts with planning and when talking about plans, we really have to recognize our own condition further so that we can know our own condition.
Most people fail because they cannot recognize themselves and seem to be forcing their will which actually backfires which destroys the plans they are building.
Apart from all these factors, there is also ego and prestige which must be reduced a bit because indeed this can also be one of the conditions where planning and money management are disrupted.
sr. member
Activity: 1204
Merit: 270
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spending to meet basic needs is a very important thing to pay attention to and if it has been fulfilled then saving is something that must be done regardless of how much income you get per month and if expenses are higher or just barely with your income then you can't be silent, you have to get out of it and look for additional income to be able to save.
saving is very important for future life and if someone knows the benefits of saving then he will do anything to be able to fulfill it, the important thing is there is a desire to save then it won't be difficult.
We have to try to apply for new jobs to earn extra income when we are still productive for any job, we have to take advantage of our young age to work hard for savings needs because when we are old we are no longer able to work and have to rest a lot to maintain our health. Many people do not prepare themselves for old age so that financial management is not organized because they have to work hard at old age.
The prevailing pattern of society is that middle income people save more. And for exactly the opposite reason, low and high income people save relatively less. High income people have high consumption and investment rates, so savings are low, and low income people face a challenge in daily living. But you are right, no one can work in old age they need rest. That is why it is important to save something for the future at a young age which will provide security in old age.
legendary
Activity: 3752
Merit: 1864
~snip~


1/3 or 1/4 or 1/10 is not the point.
My emphasis would be this:
- Borrowing money in the form of loans to cover "ordinary" needs is a bad way to go. You borrow $1, but you will owe $1 plus interest back. Which means you'll have a bigger need to borrow tomorrow. And it's a vicious circle. The solution is to change your income and/or change your consumption.
- You need to constantly strive to improve your financial health. Both yourself and your children. And the way to do that is the way to develop your skills. There is always time and opportunity to be found. Even if it's very hard. Otherwise nothing will change. It's very simple - it's foolish to expect change if you keep doing the same thing every day.
- You need to limit unreasonable consumption - from food to things. A lot of what you acquire has no real value in your life
- it is necessary to always think about the FUTURE. You can't live "here and now"!
- It's necessary to form a "financial cushion", this is just about 1/3, 1/4, 1/10 ...
- It is necessary to form a set of passive income

It all seems a bit complicated, but ... you have to do it and it's not so hard! You may not be able to do it all at once! But without changing anything your life will stay the way it is ...


Hey, high-five for shedding light on this crucial adulting thing - the art of managing the green and avoiding the credit abyss. It's a cold shower for those of us spiraling in the vicious cycle of borrow-to-spend. The salvation lies in a simple two-step: get more ka-ching, splash less. Now, revving up the cash engine isn't rocket science. Got a knack for something? The gig economy is a goldmine! Websites like Upwork, Fiverr, Etsy are like your personal online marketplace. Put your skills on the digital catwalk and let them strut their stuff!

But, the dough ain't gonna last if you keep draining it like a leaky faucet. Time to adult-up and manage that spending. Trusty sidekicks like Mint, YNAB, and Personal Capital are here to help. They're like your personal finance Jedi, keeping the spendthrift Sith at bay. Talking about that "financial cushion" - size matters! And it's custom-fit, baby - based on your lifestyle and how heavy your paycheck weighs. Passive income? We got you covered. Peer-to-peer lending, stock dividends, REITs - might sound a bit "Matrix-y", but once you take the red pill and understand the basics, it's all about cruising on the highway of financial stability.


Total - combine two answers, publish a methodical material on "how to start living reasonably and get rich," earn extra profits! An additional source of income - the sale of an exclusive copy of the manual with autographs of the authors - slapper and DrBeer!
Then we'll open courses all over the world.... Man... there's a problem... Where to keep the money from this business?  Grin
How about a business plan?  Smiley
full member
Activity: 783
Merit: 108
Personal preferences, expenses, and personal circumstances play an important role in determining their ability to save money. So changing negative habits and replacing them with positive ones can dramatically improve your financial situation and allow you to save for the future. Seeking professional help or support groups can be helpful in getting through tough times and developing healthier financial habits. Recognizing negative effects and taking steps to address and overcome such habits is an important part of regaining control of your finances and working towards your savings goals.
sr. member
Activity: 832
Merit: 286
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spending to meet basic needs is a very important thing to pay attention to and if it has been fulfilled then saving is something that must be done regardless of how much income you get per month and if expenses are higher or just barely with your income then you can't be silent, you have to get out of it and look for additional income to be able to save.
saving is very important for future life and if someone knows the benefits of saving then he will do anything to be able to fulfill it, the important thing is there is a desire to save then it won't be difficult.
We have to try to apply for new jobs to earn extra income when we are still productive for any job, we have to take advantage of our young age to work hard for savings needs because when we are old we are no longer able to work and have to rest a lot to maintain our health. Many people do not prepare themselves for old age so that financial management is not organized because they have to work hard at old age.
legendary
Activity: 3752
Merit: 1864
.....
I agree with everything you said except the last sentence. There is a saying in economics: "If there's no growth then there's no life in it." If we are not making things better then our life will not stay the way it is, it will be getting worse. So, basically, we have no choice but to grow. We should be improving our knowledge, our income should be getting bigger, and our living conditions must our living conditions must improve along with it. We must be moving forward, we can't afford to stand still.

I may not have conveyed my thought very accurately, but I meant exactly what you said - if you want improvement - change, become different, change your habits, improve your knowledge and skills. Without changing yourself, your life will not change.

In fact, it is difficult to end a desire because it always follows the times. Sometimes it is difficult for a person to distinguish between a need and a desire. When I asked them, they always defended themselves and said that it was a necessity, even though on the other hand it was clear that they didn't need it. No matter how much money we have, it will never be enough if we always pursue more and more desires. I often see many rich people who feel unhappy in their lives, because maybe they are always chasing something that they don't really need. One of the best ways is to be grateful for what we have, buy the things we need, and start living a simple life by not chasing something that is beyond our means or something that is not very useful.

Regarding desires, which influence our behavior, first of all, as a consumer.  Yes, there is such a flaw in people. And it's hard to deal with. But there is an option. There is a good method, the "5 Why method. Only a little adapted - "the method of 5 WHY I want it" Smiley I'm sure many people are familiar with the "5 Why method" or can easily learn it. If you make an impulsive decision to buy something new, such as a new model of phone, then about 3-4, and certainly on the fifth answer "why do I need it" you will come to the conclusion that it is not really necessary, but is simply an impulse associated with advertising or other method of manipulating your mind buyer.
full member
Activity: 882
Merit: 211
Saving a third of your monthly income can be a realistic goal, but it depends on factors such as where you live and your expenses. If you earn $3,000 per month and have moderate expenses such as rent, food, utilities, phone bills, travel, and occasional entertainment, it's possible to save $1,000.

However, it's important to consider the cost of living in your area and your personal financial obligations. It also requires budgeting and the discipline to save consistently to create a viable savings plan.
spending to meet basic needs is a very important thing to pay attention to and if it has been fulfilled then saving is something that must be done regardless of how much income you get per month and if expenses are higher or just barely with your income then you can't be silent, you have to get out of it and look for additional income to be able to save.
saving is very important for future life and if someone knows the benefits of saving then he will do anything to be able to fulfill it, the important thing is there is a desire to save then it won't be difficult.
member
Activity: 492
Merit: 48
Saving a third of your monthly income can be a realistic goal, but it depends on factors such as where you live and your expenses. If you earn $3,000 per month and have moderate expenses such as rent, food, utilities, phone bills, travel, and occasional entertainment, it's possible to save $1,000.

However, it's important to consider the cost of living in your area and your personal financial obligations. It also requires budgeting and the discipline to save consistently to create a viable savings plan.
legendary
Activity: 1946
Merit: 1100
Leading Crypto Sports Betting & Casino Platform
~snip~


1/3 or 1/4 or 1/10 is not the point.
My emphasis would be this:
- Borrowing money in the form of loans to cover "ordinary" needs is a bad way to go. You borrow $1, but you will owe $1 plus interest back. Which means you'll have a bigger need to borrow tomorrow. And it's a vicious circle. The solution is to change your income and/or change your consumption.
- You need to constantly strive to improve your financial health. Both yourself and your children. And the way to do that is the way to develop your skills. There is always time and opportunity to be found. Even if it's very hard. Otherwise nothing will change. It's very simple - it's foolish to expect change if you keep doing the same thing every day.
- You need to limit unreasonable consumption - from food to things. A lot of what you acquire has no real value in your life
- it is necessary to always think about the FUTURE. You can't live "here and now"!
- It's necessary to form a "financial cushion", this is just about 1/3, 1/4, 1/10 ...
- It is necessary to form a set of passive income

It all seems a bit complicated, but ... you have to do it and it's not so hard! You may not be able to do it all at once! But without changing anything your life will stay the way it is ...


Hey, high-five for shedding light on this crucial adulting thing - the art of managing the green and avoiding the credit abyss. It's a cold shower for those of us spiraling in the vicious cycle of borrow-to-spend. The salvation lies in a simple two-step: get more ka-ching, splash less. Now, revving up the cash engine isn't rocket science. Got a knack for something? The gig economy is a goldmine! Websites like Upwork, Fiverr, Etsy are like your personal online marketplace. Put your skills on the digital catwalk and let them strut their stuff!

But, the dough ain't gonna last if you keep draining it like a leaky faucet. Time to adult-up and manage that spending. Trusty sidekicks like Mint, YNAB, and Personal Capital are here to help. They're like your personal finance Jedi, keeping the spendthrift Sith at bay. Talking about that "financial cushion" - size matters! And it's custom-fit, baby - based on your lifestyle and how heavy your paycheck weighs. Passive income? We got you covered. Peer-to-peer lending, stock dividends, REITs - might sound a bit "Matrix-y", but once you take the red pill and understand the basics, it's all about cruising on the highway of financial stability.
sr. member
Activity: 770
Merit: 266
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Whell, The amount is high  Grin Grin... Maybe, as you said, it is very easy to work around this and we can even collect more than that target. I think each of them has a different income generated. the higher the income, the higher the cost of living and that's real. Incoming money sometimes does not match expenses. Yes. just an example from you along with the numbers, on the other hand, whatever it is, everything must be prepared, how to survive if there is no preparation. Yeah. Useful topic from you.
well the amount mentioned by the OP is indeed quite large when viewed and compared to normal income in developing countries which rarely even approaches $1000 usd. But the important thing to remember is whether our basic needs for one month are far less than income or even far greater than income or maybe it's balanced. These points may not be the same between one another who even live in the same country. because the salary of everyone who is different profession is certainly not the same. but the price of the necessities of life may be the same. it's just that a luxurious lifestyle or a simple lifestyle may also be the difference.

I live in a developing country. but sometimes I can still save 1/3 of my money. but it is not fixed every month. because sometimes the necessities of life can go down and up. or many unexpected needs arise. the point is saving 1/3 can be done for some people but also not for others. but it would be great if we could do that. and can continue to invest and save consistently every month. But reality is sometimes not as easy as planned.
STT
legendary
Activity: 4060
Merit: 1448
One tenth for charity is the measure some have in some parts of the world or in some faiths.  Regardless of intentions for those savings to give away or to add to your own long term security via savings or investment, we can compare one third to that very long term rule of always one tenth when rich and in good health to cover those unwell etc.    Some only would regard saving for family or very close friends in this way but its all the same kind of thing, never spend all your money because it makes you vulnerable to do so and one day you will over extend past your long term capabilities; we can all get ill of course and require rest not able to work so save at least one tenth is sensible by any measure.
   One third I dont think most will do, Ive heard of a few who aim to save live frugally and then retire to leave horrible stress filled jobs and switch to nicer lower paid out of city jobs.  Thats rare, we live in a consumerism based society and it is encouraged by most political strategies to stoke GDP growth and the election cycle vs recession etc.   This whole dynamic is actually very relevant to BTC, they wont reverse QE, they wont repay the debt and sensible economics of saving properly wont exist any time in recent years and I hear this every day.  Next year is the US election so they wont entertain the idea of not boosting an economy to win that election etc.  its definitely a factor in BTC price year to year.
sr. member
Activity: 1358
Merit: 259
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Saving a third of your income can be a challenge for many people. After all, everyone's financial situation is different. Factors such as rent or mortgage payments, debt obligations, health care costs, child care costs, and supporting family members can significantly affect your ability to save a substantial portion of a person's income. So consider the full financial picture when setting a savings goal. Instead of focusing only on a specific percentage, each person should evaluate his or her income, expenses, and financial priorities to determine a viable savings amount that is appropriate for his or her own circumstances.
full member
Activity: 1050
Merit: 110
Managing your "wants" is one of the hardest things in our lives, I agree, I know it myself Smiley
But believe me - if you learn to control your desires, the rest won't be a problem for you Smiley
In fact, it is difficult to end a desire because it always follows the times. Sometimes it is difficult for a person to distinguish between a need and a desire. When I asked them, they always defended themselves and said that it was a necessity, even though on the other hand it was clear that they didn't need it. No matter how much money we have, it will never be enough if we always pursue more and more desires. I often see many rich people who feel unhappy in their lives, because maybe they are always chasing something that they don't really need. One of the best ways is to be grateful for what we have, buy the things we need, and start living a simple life by not chasing something that is beyond our means or something that is not very useful.
That is correct - one should learn to manage between wants and needs but man is selfish by nature. The more you earn the more material they feel like having for better living style.
sr. member
Activity: 826
Merit: 460
Managing your "wants" is one of the hardest things in our lives, I agree, I know it myself Smiley
But believe me - if you learn to control your desires, the rest won't be a problem for you Smiley
In fact, it is difficult to end a desire because it always follows the times. Sometimes it is difficult for a person to distinguish between a need and a desire. When I asked them, they always defended themselves and said that it was a necessity, even though on the other hand it was clear that they didn't need it. No matter how much money we have, it will never be enough if we always pursue more and more desires. I often see many rich people who feel unhappy in their lives, because maybe they are always chasing something that they don't really need. One of the best ways is to be grateful for what we have, buy the things we need, and start living a simple life by not chasing something that is beyond our means or something that is not very useful.
legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
If you are in twenties or early thirties and remain single, earn $3,000 after tax per month, you will probably save $1,000 if you, let's say, spend $500 to $800 on rental, a guest bedroom in a shared house/apartment, $500 on food, $50  on utilities, $150 on phone/internet bills, $400 on commuting costs or gas/maintainance if you have a used car, $200 on occasional entertainment or others. This $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?

Maybe that depends on the fiat value of each individual, because that kind of value is really big. For example, in any part of the Asian country, it's too big, 3000$ a month. And if it's here in our country, I might only be able to use $800 a month.

And the 2200$ that will be left for me is for sure that I can keep it and can use it in DCA for bitcoin. And that's all I'll do until the right time comes for the bull run that I'm targeting, which is the price of the bitcoin market. And then I will only sell it when it reaches 100k$ each.

I agree, but with that huge amount of income you need to be in a top position or you have a good business to earn such amount, it's doable I mean saving good portions of your monthly salary will be depends from your needs and not from your wants, I see the point where if you can control your finances your savings can be turn to a good investment.

It's more about how good is your will in fulfilling your goals and how good are you in controlling your finances.
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