Saving or setting aside 1/3 of income per month can be said to be easy if the person who will do it has 100 percent discipline in himself and has a good inspiration to do it.
And we should also know how to handle money and only spend what is appropriate to be able to save at least in my opinion. Because without discipline it cannot be done correctly for sure.
Topic: Saving one third what you earn monthly is not that hard, isn't it ? - page 9. (Read 3349 times)
January 22, 2023, 11:56:16 AM
January 22, 2023, 10:52:30 AM
That's the very essence of savings, making sure that you have something to get when emergency happens, though for sure most of us here are not in that mindsets since we are aiming for financial freedom when our savings is good enough to start a business, I like the way you describe it, not exactly the entire third part of your earnings but if by chance you can add portions of your money to save that still good enough.
We do have differences in terms of financial obligations and capabilities, but the most common thing is we all want to have a stable or maybe comfortable life in terms of finances. That's why we are all trying to save.
At this time maybe many people no longer have mandatory savings standards that must be applied, especially for some people who are familiar with the term bitcoin investment and most people now allocate more of their money for investment. A person's financial capabilities are indeed different, therefore the standard of savings can be different for each individual, but savings should not be neglected to prepare for urgent needs.We do have differences in terms of financial obligations and capabilities, but the most common thing is we all want to have a stable or maybe comfortable life in terms of finances. That's why we are all trying to save.
If someone says it's better to allocate for investment and sell these assets if needed, then what if bitcoin experiences a severe correction and at the same time we need money, will we sacrifice bitcoin to cover that need?
>Snip
This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.
If we have savings, then our family life will be much more secure. There are times when everyone experiences the worst moments in their life, when facing natural disasters, accidents and health, this is where the role of savings can be used. Savings can also be used when bitcoin conditions experience a severe correction, because the money can be used to buy them.This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.
The most important thing is that savings are made consistently, even if the value is small and should always be on hand just in case. Like the saying that we often hear from ancient people "Saving is a source of wealth". Is it true?
January 20, 2023, 05:31:43 PM
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 $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?
if for singles in my area 1000$ is enough for living expenses in 1 month or more, and you can invest 2000$ each month, indeed the level of life for each country is different so you can say that the way to manage expenses will not be the same
Though most of us will say 1000$ it as the value on the country it is still low or not enough in this third world country as the living expenses in those area are big that needs huge amount of money. There are ton of people earning big that still cant afford on renting house and they are just living in a streets. Let's also base our monthly income on what country we are living in as others will say it was big but if you are living in first world countries it isn't enough.
January 20, 2023, 05:54:20 AM
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 $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?
if for singles in my area 1000$ is enough for living expenses in 1 month or more, and you can invest 2000$ each month, indeed the level of life for each country is different so you can say that the way to manage expenses will not be the same
Though most of us will say 1000$ it as the value on the country it is still low or not enough in this third world country as the living expenses in those area are big that needs huge amount of money. There are ton of people earning big that still cant afford on renting house and they are just living in a streets. Let's also base our monthly income on what country we are living in as others will say it was big but if you are living in first world countries it isn't enough.
January 20, 2023, 04:47:50 AM
Yes, when we do talk about savings then it would be mostly used on emergencies and stuffs related to it or when you are really that badly needed with money because if you dont have savings then you would
really be having a hard problem to be solved specially if it does really need up some financial back ups on which savings would be really in rescue or else then you would be ending up on getting up some loan.
This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.
That is why it is so important to have a certain amount, for unforeseen circumstances. And after that, you can safely start investing, and you should not worry that this reserve does not generate income, it has a different function, it provides you with financial confidence, which is also very important.
Before anyone would go into investing into anything, it is always advisable to have some savings. You do not have all your eggs into one basket. You do not put all your money into investing into one or more projects. There is a huge need to have some savings left aside.
Do not go into investing if you do not have a comfortable source of income also( working two jobs would be better to be able to save more).
January 20, 2023, 04:10:44 AM
Yes, when we do talk about savings then it would be mostly used on emergencies and stuffs related to it or when you are really that badly needed with money because if you dont have savings then you would
really be having a hard problem to be solved specially if it does really need up some financial back ups on which savings would be really in rescue or else then you would be ending up on getting up some loan.
This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.
That is why it is so important to have a certain amount, for unforeseen circumstances. And after that, you can safely start investing, and you should not worry that this reserve does not generate income, it has a different function, it provides you with financial confidence, which is also very important.
January 19, 2023, 05:58:33 PM
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 $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?
if for singles in my area 1000$ is enough for living expenses in 1 month or more, and you can invest 2000$ each month, indeed the level of life for each country is different so you can say that the way to manage expenses will not be the same
January 19, 2023, 05:37:12 PM
When you are a breadwinner then it would really be that hard for you to save up and we are on the same situation on which you could hardly even ending up on having a savings or extra money just because there's something that you do need to spend up or shall we say its part of expenses which it would really be just normal that you should prioritize them for you to continue even if you dont really have the time on extra money
that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.
The portion of savings can be adjusted according to the ability of the money you have, no need to determine the amount, because the most important thing is to do it regularly and consistently every time you get a salary or when you have other income. Everyone earns a living for his family and this is where the ability to balance expenses and income is most needed, so that everyone can have some money left for savings.that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.
If we are married and have children, but the savings we have are empty, then when unwanted things happen it will have quite an impact on psychology, for example the cost of educating children and family health that cannot be met, so saving and investing are equally important.
That's the very essence of savings, making sure that you have something to get when emergency happens, though for sure most of us here are not in that mindsets since we are aiming for financial freedom when our savings is good enough to start a business, I like the way you describe it, not exactly the entire third part of your earnings but if by chance you can add portions of your money to save that still good enough.
We do have differences in terms of financial obligations and capabilities, but the most common thing is we all want to have a stable or maybe comfortable life in terms of finances. That's why we are all trying to save.
really be having a hard problem to be solved specially if it does really need up some financial back ups on which savings would be really in rescue or else then you would be ending up on getting up some loan.
This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.
January 19, 2023, 02:08:53 PM
i dont believe money was created to be saved it was created to revolve thats why its called currency... anything that stays stagant for too long either stinks or looses its value, its okay to save for a short while but make sure youre reinvesting in a profitable venture. for those of us that believe in the bible there was a servant that was given 1 pound and when he returned that exact pound His master which is God was displeased with hin but rather those that traded theirs where blessed with more and promoted so i think its Gods mindset that money musnt be saved but invested for a profit i would also advise from the same book that you must calculate the cost of any venture before investing to avoid severe loss....
January 19, 2023, 01:58:18 PM
When you are a breadwinner then it would really be that hard for you to save up and we are on the same situation on which you could hardly even ending up on having a savings or extra money just because there's something that you do need to spend up or shall we say its part of expenses which it would really be just normal that you should prioritize them for you to continue even if you dont really have the time on extra money
that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.
The portion of savings can be adjusted according to the ability of the money you have, no need to determine the amount, because the most important thing is to do it regularly and consistently every time you get a salary or when you have other income. Everyone earns a living for his family and this is where the ability to balance expenses and income is most needed, so that everyone can have some money left for savings.that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.
If we are married and have children, but the savings we have are empty, then when unwanted things happen it will have quite an impact on psychology, for example the cost of educating children and family health that cannot be met, so saving and investing are equally important.
That's the very essence of savings, making sure that you have something to get when emergency happens, though for sure most of us here are not in that mindsets since we are aiming for financial freedom when our savings is good enough to start a business, I like the way you describe it, not exactly the entire third part of your earnings but if by chance you can add portions of your money to save that still good enough.
We do have differences in terms of financial obligations and capabilities, but the most common thing is we all want to have a stable or maybe comfortable life in terms of finances. That's why we are all trying to save.
January 18, 2023, 01:30:27 PM
I have a friend that's unable to keep money aside for saving since he gets married, expenses have grown higher and his job paycheck is not keeping up, now he is planning to go for another job just to be able to provide for his family, savings is not that easy unless it's just you alone with no family to look after.
January 18, 2023, 08:15:04 AM
When you are a breadwinner then it would really be that hard for you to save up and we are on the same situation on which you could hardly even ending up on having a savings or extra money just because there's something that you do need to spend up or shall we say its part of expenses which it would really be just normal that you should prioritize them for you to continue even if you dont really have the time on extra money
that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.
The portion of savings can be adjusted according to the ability of the money you have, no need to determine the amount, because the most important thing is to do it regularly and consistently every time you get a salary or when you have other income. Everyone earns a living for his family and this is where the ability to balance expenses and income is most needed, so that everyone can have some money left for savings.that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.
If we are married and have children, but the savings we have are empty, then when unwanted things happen it will have quite an impact on psychology, for example the cost of educating children and family health that cannot be met, so saving and investing are equally important.
January 16, 2023, 05:42:00 PM
Its hard to live on far less in a totally disciplined way sure it is. Also there is little encouragement to do so, we are living in a consumer society and many will look down on you for not keeping up with your colleagues or friends in their spending on various things. You may be restricted in socializing by doing so, I'd say the majority will never do this or consider it a failure even. The closest people get is when saving for a house I think, just temporary and then back to norm of full spend.
January 16, 2023, 05:29:42 PM
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 ?
Whatever amount of money you can save, if placed correctly it is sure to generate a suitable return. In some countries, $1,000 is considered a large amount to save or invest, because each country has a different exchange rate. If $1,000 invested in bitcoins regularly and consistently will bring you great returns, many people even make investments far less than the money you have saved.So it can be said that that much money would be quite appropriate if placed in an investment in bitcoin, but the rest depends on how a person places the money they have, but for me the steps to buy bitcoin slowly are much better, because if done regularly over time it will become big.
The money management has given me so much crisis and ups and down in my life. I wish I can save some money and make it my habit and my monthly ritual
that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.
January 16, 2023, 03:43:11 PM
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 ?
Whatever amount of money you can save, if placed correctly it is sure to generate a suitable return. In some countries, $1,000 is considered a large amount to save or invest, because each country has a different exchange rate. If $1,000 invested in bitcoins regularly and consistently will bring you great returns, many people even make investments far less than the money you have saved.So it can be said that that much money would be quite appropriate if placed in an investment in bitcoin, but the rest depends on how a person places the money they have, but for me the steps to buy bitcoin slowly are much better, because if done regularly over time it will become big.
The money management has given me so much crisis and ups and down in my life. I wish I can save some money and make it my habit and my monthly ritual
January 16, 2023, 03:31:29 PM
Not is not that hard not when you have a lots of bills to pay. There are some people that would love to make savings buy with the way things are going, life is becoming more difficult since salary of workers is not increasing and the price of food is increasing everyday so we need to be more vigilant to do and put more effort in what we do so that we can live a god lifestyle.
January 16, 2023, 01:49:05 PM
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 ?
Whatever amount of money you can save, if placed correctly it is sure to generate a suitable return. In some countries, $1,000 is considered a large amount to save or invest, because each country has a different exchange rate. If $1,000 invested in bitcoins regularly and consistently will bring you great returns, many people even make investments far less than the money you have saved.So it can be said that that much money would be quite appropriate if placed in an investment in bitcoin, but the rest depends on how a person places the money they have, but for me the steps to buy bitcoin slowly are much better, because if done regularly over time it will become big.
January 16, 2023, 12:57:06 PM
It isn't hard if you're living alone, but it becomes a problem when you have a lot if mouths to feed and bills to pay. Saving isn't for everyone obviously, and before you can start to save you need to have some form of safety net in the event that your salary won't allow you to pay all the bills and put some food on the table. This is why a lot of people nowadays opt to take two jobs just to get by. After everything is paid for, there still wouldn't be enough to keep as a decent savings. Just imagine getting $4000 a month, and $2500 already goes to bills and rent/mortgage, how can you live off of $1500 for food and transportation with a family of 4? That's not including education funds too.
If wages can br increased then perhaps we can encourage a lot of people to save. But in reality, even single people cannot live off of minimum wage and still have some decent money left for anything that they want nowadays.
True - if you are living alone and your dont have a bunch of loser friends who thinks since you are alone and single so you have not responsibility but to buy them food and cinema ticket all the time - I am alone but I have a bunch of loser friends - who have been stealing my things and money and I am so looser that I didnot know what is happening with me. If wages can br increased then perhaps we can encourage a lot of people to save. But in reality, even single people cannot live off of minimum wage and still have some decent money left for anything that they want nowadays.
January 16, 2023, 08:46:12 AM
When you are in a situation which you do have a family and the expenses are really that big due to lots of children then it would really be that hard to make up some savings.
I do know someone who is really that reliant with his crypto earnings which is surprising and its been several years on which he had able to make money still despite on having no job
physically.It might really sounds easy to say that saving up some one third of your income but its actually that hard for it to be done when you are on such situation.
Unless if you do have other sources of income then it would really be able to patch up.
I do know someone who is really that reliant with his crypto earnings which is surprising and its been several years on which he had able to make money still despite on having no job
physically.It might really sounds easy to say that saving up some one third of your income but its actually that hard for it to be done when you are on such situation.
Unless if you do have other sources of income then it would really be able to patch up.
Other sources of income can give you that chance to save more, but the concern of having too much expenses means that you won't be able to work with it, unless you can really take things seriously and plan all your expenses, most of the time there are emergency that you need to use your save money, things that is not part of the plan but it happen and there's nothing that you can do.
Neither do I have an emergency fund.
January 16, 2023, 06:19:04 AM
When you are in a situation which you do have a family and the expenses are really that big due to lots of children then it would really be that hard to make up some savings.
I do know someone who is really that reliant with his crypto earnings which is surprising and its been several years on which he had able to make money still despite on having no job
physically.It might really sounds easy to say that saving up some one third of your income but its actually that hard for it to be done when you are on such situation.
Unless if you do have other sources of income then it would really be able to patch up.
I do know someone who is really that reliant with his crypto earnings which is surprising and its been several years on which he had able to make money still despite on having no job
physically.It might really sounds easy to say that saving up some one third of your income but its actually that hard for it to be done when you are on such situation.
Unless if you do have other sources of income then it would really be able to patch up.
Other sources of income can give you that chance to save more, but the concern of having too much expenses means that you won't be able to work with it, unless you can really take things seriously and plan all your expenses, most of the time there are emergency that you need to use your save money, things that is not part of the plan but it happen and there's nothing that you can do.
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