Topic: Saving one third what you earn monthly is not that hard, isn't it ? - page 6. (Read 3349 times)

Nice to keep up the conversation with you, thanks
I'm talking about super wealth, and poverty now I'll say more. The topic is not very pleasant, but it is a reality.

We can discard the SUPER-RICH, of which there are conditionally thousands on earth. By the way, many of them donate HUGE funds for many humanitarian programs, assistance to the same developing countries and poor regions.

Let's talk about the "medians" of our lives - the middle class, the poor, and the very poor.
The middle class, according to my observations, in most cases these are people who were able to "arrange" and "find themselves in life." This is the result of their WORK. And I know a lot of examples when they came from either low-income or even poor families.
The second part is the poor/low-income people. There is a layer of people, I would say this - those who are not used to straining a lot, who are tripled by their standard of living (as, for example, they lived in the USSR with the idea - nothing is poor, but stable). People-losers, people "rolled down" from the middle class. People who talk more about what they want than actually do to achieve what they want.
The third is the poor. This is the saddest group ever. They became so for many reasons, but as a rule, the main ones are: class division in the country / nation, victims of religious "traditions", residents of countries where totalitarian rulers are either ruled by religious fanatics, or where the head of the country for many decades is simply deeply corrupt power. Other reasons are already fractions of a percent of the reasons. And the biggest problem is that the last 2 levels are the reasons, in general, the people themselves. They do not want to strain, they choose the power of thieves or totalitarian rulers, they do not want to learn, think and develop, but they just want help to be brought to them .... And no matter how much the middle class and the super-rich allocate money to meet the needs of the poorest and low-income, the will only increase the scale of the requirements. It does not look very humane, but such is human nature.
For example, I said for a long time - instead of "humanitarian missions" and constant "feeding" people - build factories for them, train them - let them earn their own living.
This concept is more correct and not nearly more costly than simple "content". Plus, it is closer to "biblical" models - it's better not to feed the little man by giving him fish, but to teach him how to make a fishing rod and fish, so that he can constantly get his own fish!

If you really wanted to save money from any amount of salary, do it after you budget your salary, always prioritize the budget for rent, food, water, electricity, etc. and the amount of money that's gonna left, save it. Some people failed to save any amount of money because they don't know their priorities, or does a lot of overspending it to anything they want, which is very irresponsible as an adult.

I think it would be very difficult from everyone's point of view because we all have different income systems. For many, it is difficult for many people to live with their family for a month with their salary. But those whose monthly income is relatively higher can save one-third of their income if they want. 

In the context of our country, if it is said that a person whose monthly income is 300 dollars, then that person can save 100 dollars at the end of the month, but with 200 dollars, he can get through a month roughly, but if he continues fully, 300 dollars will be less for him. It is possible to save one-third of the monthly income if it is limited.

Financial planning is the basic preparation for our future life. if we realize again the value of money in the past will not be the same as now, there are many reasons for not starting financial planning, usually the classic reason that is most often found is not knowing the knowledge and having no capital but nowadays there are still reasons not to be able to learn, it should be with the use of technology those who have access to self-education on financial planning topics are easily available and don't forget that the most important thing is willingness.

If you think about it, it's a shame if you haven't started yet, because starting is really simple, realize and calculate various needs in the future as well as your current financial condition, don't forget to routinely check the allocation of expenses and financial income every month according to the determined posts. Are the expenses more than our income? Are there debts? Are the funds we spend in accordance with what we have, usually we are not aware of the separation of wants and needs.

In fact, if only we were aware of the existing income, we would immediately set it aside for saving or investing before moving on to other posts. This is called the pay yourself strategy so that when we are preparing for our children's education costs and we are aware of inflation, we can make preparations earlier so we can be better prepared to face future needs. In essence, we must have Budget Rules:
- 50% Family Monthly Consumption;
- 30% investment
- 20% savings

Setting a goal is truly important, especially when it comes to goals with responsibility. Take me as an example, before I got married, everything was responsibility-free and to be honest, I did not think much about my life. After my daughter was born, I started changing. I began to set both financial and life goals and then strived to achieve them with all my best. I am thankful that all the goals are like anchors to my life, transforming me to be a better man. Sometimes we have to admit that goals are blessings. It is never too late to set a goal. Please put together and live your life to the most extent. All the best to you, man.

You are right - life without a goal is a wasted life
I wasted my life not setting a goal - and had been a complete failure
Setting a goal is very important 

But if we don't have a specific goal, it makes us more lethargic and lazy.  It is better to give a specific number because we will be more disciplined with ourselves to achieve that goal.  you are right that we apply it will make us more stressed in life but that savings will come in handy in your emergency.  i also like to impose a specific number when it comes to saving and investing, which will help me reach my goal quickly rather than dragging on and never completing it.

It should be good for you if you have multiple sources of income, but I don't know if you need to maintain a percentage of that amount each month. Even if saving is recommended, but I don't think it's necessary to have a special percentage in doing so and just do how many you can save.

If you insist on saving a certain amount each month then you may run into problems when your source of income dries up for one reason or another. This will definitely give you a lot of responsibility so that you can or should reduce your daily and monthly needs to get the percentage that you set. You can do it, but your method cannot adopted for other users.

That's totally depends on your pay scales your country is offering and the inflation rate in that country  .
Where I live the wages are low and inflation is high so saving is impossible,  you hardly meet your expenses to provide food and basic facilities to your family .

It is applicable to you according to the cost of your country which you have calculated here. If I spend here according to the customs of the country I live in, I will spend only $1500 of the $3000 per month. Now everything is going up in price. Living now has changed a lot compared to the previous life. If everything had not gone up in price, maybe I could have saved $2,000 out of $3,000 based on my country's cost. So I think right now there is not much difference in cost as per your country as well as in my country.

Saving is part of my life and I have never seen it as an impossible task that needs to be done with efforts. It just flows so naturally in my life so of course, I have saved a lot of money over the years. What most people don't understand is not the amount of money that one can save, it is the discipline that guides me to save that really makes me feel great. I hope more people will understand what I am talking about.

A man can never accumulate as much money as he can save without saving. In the area where I live, some relatively poor people save some money as a few members every month for a particular festival. Eevery month they make a rule to save that money, after a year they divide the money equally among all, as a result of which it can be seen that at the end of the year they accumulate a very good amount of savings and the festival they save is very good.
I can observe  That is, I liked their communication medium very much and then I realized that it is possible to accumulate a lot of money by saving. 

In your case also, if you save a part of your monthly salary, it will be seen that after a certain period of time, you will have accumulated a lot of money in your savings account.

You can always find an opportunity to postpone, but if you deny yourself something to postpone, this is not the best way. It is better not to postpone during such periods, but think about what you can do to increase your income, then after the usual spending you will have money left that you can save, and you will not have to deny yourself anything. And when the saved money starts to work and bring you profit, it will bring more additional income.

Thanks for your kind reply. Well, I’ve also traveled almost all continents and do share your view on poverty. Poverty is indeed a global issue faced by all governments and their citizens but the worse part is that the gap between the rich and poor deepens the poverty issue. In many countries, the rich and ultra-rich people enjoy an insanely lavish lifestyle while the poor are barely having food on table. We always picture a nation using its bright and prosperous image but how about those poor and dark sides ? The more I travel, the more I cherish my own life. As an individual, I can do nothing with eliminating poverty but will try my best to help those who are less fortunate as much as I can.

It is very nice to communicate with a cultured person, thank you!
Fatigue and insomnia sometimes give such special effects, with perception ... In general, the situation is very familiar

Yes, I will repeat once again - yes, unfortunately, our world is not organized very correctly ... I have visited many countries, almost all continents, and unfortunately, I have often seen that people's lives can hardly be called secure ... This very unpleasant to see. And the saddest thing is that I do not see a real and global solution to the problem of poverty.

I wouldn't call saving important, I would consider it extremely important that anyone should have it at all costs. Because life is full of surprises, and if we don't prepare in advance, we will likely have a crisis when the unexpected happens. A lot of people complain that they can't save because their income is so low, that can be a real problem, but if we really want to do it, then we will find a way. But when we don't want to, there will always be a thousand reasons. Investing and saving are two things that everyone should have because they will be the premise for us to have a better future.

LOL... these things are easier to say. But very difficult when implemented in real life. As of now, I am having a comfortable job and I am able to save 1/3rd of my salary (almost 1/3rd is taken away by the government in the form of taxes). But that is because I don't suffer from any health ailments, and also because I have a comfortable job in hand. A few years ago, I was really struggling to even meet the monthly expenses. Forget about saving money, back then it was a big challenge even to make sure that the expenses stay at the same level as take-home salary.

this is because of the inflation. i remember before that minimum salary is enough to us and there are some extra on it as we can still eat on restaurant but right now even in grocery it isn't enough and you still need to find side jobs that is why right now in a family mostly both wife and husband will work and there are still side hustle so that they can still provide to their children. This is really because of the prices of everything because if it is low then it is okay but again prices are increasing but our salary just stays stagnant

at least actively look at the condition of crypto news in order to avoid big risks, risks must follow life. and I also don't commit all the money in the portfolio to the coin stable usdt, busd. there must be half of it being used like an airdrop that uses money so that money grows not just standing still, and potential short-term coin investments. if it makes a profit it is added to the stable portfolio

Sorry for my previous reply. You are right that I did not get your point previously. I was on a business trip and lost some sleep for transit. Apologies for the  misunderstanding. Well, not everyone can save 1/3 and this is a brutal fact, but I assumed that for some people, at least for those on this forum, monthly income will not be that low and savings must be an option because if not, how come many of us are discussing investment on the forum ? Therefore, I started this thread to talk about the possibility of saving that much. It is OK if people disagree as I know this only applies to some certain people. By the way, glad to hear that you’ve made plentiful savings. I am also in the category