Topic: Take care of your money and learn to save. - page 13. (Read 2856 times)

Savings is your friend in bad times because you can earn a lot of money by working or doing business when you are young but you will not have that ability when you are old. That's why you need to reduce waste of money in your youth and make savings so that they can support you financially in your later years. In this case, you can keep your savings in an asset, in which case the value of that asset will increase over time, so you will not lose the value of your savings.

Saving money is first step for investment in something. We should avoid over expenses and should spend our money on only useful things. If we will buy  luxury things and we will buy it on installment ,that is foolness. Man should make budget and he should research on good stocks where he should invest his money. But he should research on the business behind the stock, if he will his money blindly ,he will lose his money and then he will investment in stock is bad and he will advise every person not to buy the stock and keep the money in the bank that is bad idea with my personal experience.

Sorry for not being able to explain clearly. What I mean is that people in middle-class households cannot invest in anything they want because their limited income makes it difficult to manage the household. Those who have only one income field have less income, so they have to save first if they want to invest. I am not saying they will save to earn good profit. They will save to raise investment capital.

Since both saving and investment are necessary, why we must choose one of them?
If it is possible, I suggest to have both saving and investment. Saving will be aimed for reserved funds, investment has a target to earn profits. In this way, we won't be worried about having fresh money to use at any time and we also have the allocation in the investments for earning more money. I'm sure everyone will have both of them as long as they have enough money.

In saving, we may lose the value of money but it won't be very significant. True, it is caused by the inflation, it is something unavoidable due to the worse situation of the world's economic and financial system. However, we can't rely on investment only to secure our financial. We don't forget that investment has a potential of losing money, too. Investment isn't a way to get profits automatically. Even, in investment, the chance to lose money is higher. Specifically for the investment with high risk such as crypto investment, we don't fully rely on it. Spreading the funds on some fields is the best way, including put some of the funds as saving. Bitcoin, real estate, lands, and gold are some options to diversify our wealth. Don't only maintain your wealth in Bitcoin although you understand the cycle! We need to have other sources, make sure to have 3-4 sources of our wealth.

People save because any time he may face a danger in emergency time he can use his savings to solve his problem I agree with this. Many people also save for other purposes, such as living a better life in the future, saving money and investing somewhere. Because we are self-employed people, we cannot invest immediately even if we want to. to invest we have to manage funds that come from savings. so saving is very important in everyone's life. a person who can save money without misusing his money can be financially happy in his life......

I don't really agree on this because in the end investment should be about profit, not loss because why do something in vain. Meanwhile, when we make an investment but actually make a loss, that is not an investment because the essence of investment is for profit but we ourselves are unable to make the right choice and force things too much so that the investment we make ends up making a loss in the end.

Therefore it is important for us to do things according to plan so that what we do, including investment, actually puts us in misery and we can only do this if we don't rush in deciding something and of course We also have to be prepared with planning and all the possibilities that will definitely happen.
Be smart in choosing especially for investment because the investment system is for profit and enjoyment in the future, not to make ourselves feel trapped by what we do.

In today's world money plays the most important role in managing people's lives. If one has money then he can do whatever he wants. Moreover, in personal life, there is no substitute for money, even if you survive in any bad situation. That is, without money, people are almost worthless. This means that not everyone will always have it. Even if one has money today, there is no guarantee that one will have it tomorrow.
To retain or save money, a person must take several steps so that he is able to retain his money naturally.

A person must have a good plan if he wants to save money. He needs to have an idea of how much money he can save apart from his monthly expenses. If you want to save money, you must stop spend in unnecessary things. You should also set your own goals. If there is any debt then that debt has to be paid. The area of income should be increased. A person will be able to make a big contribution in the retention of money if he takes a decision by observing the above mentioned points.

That true. In terms of priorities and needs, of course, everyone is different, and I think there is a point, as you said, do not draw conclusions too quickly, although what has been equated by @wmaurik also has a basis as well.

I really agree why savings are needed where whatever our current condition as much as possible there is a little reserve for emergency funds and this is as the last alternative if you really want to be issued if indeed other solutions no longer exist without having to take loans to other people or apply for credit to banks and this is a win-win solution and as one of the best ways to protect yourself from unexpected situations.

Maybe for people who really manage their finances very well and carefully, they can save money by sharing it, but in general I think they save only for unexpected things, such as medical treatment or dealing with disasters that occur, but even that is something that It's a good thing to do, because it's better like that than not saving at all. Of course we have to save for an emergency fund or something else. because of course life will not always be smooth, there are problems that must be solved using money as a tool.

It is true that not all investments can bring profits, there are times when losses occur and this is only natural because for profit or success of course there are failures that usually occur, but this can be minimized with our knowledge about investment, the better the knowledge, the smaller the risk of loss. . And you need to remember that investing is not as easy as turning the palm of your hand. Don't assume that investment will only produce profits, of course losses will also accompany it.

But you need to distinguish that saving for emergencies is different from saving money over many years for the purpose of accumulating assets. Inflation and currency devaluation are extremely dangerous, but for short-term or emergency savings, devaluation is not too significant and not worth worrying about.

In addition, not every investment brings profit without risk, so you need to consider and allocate capital to invest appropriately. The mistake I see many people make is that because they are so eager to get rich, they don't have any savings and put all their money into investing. But they do not know that risk is always lurking behind and can attack them at any time, investing is not as easy and safe as they think.

Everyone can't have savings and the reason is as you have mentioned, not earning enough money. A person who barely earns enough money to survive a full month can't set aside an amount from it for savings because you can't save money when your family is starving for food. Such people often borrow money from others to fulfill the basic needs of their family by the end of the month because their salary doesn't cover a full month.

Having savings is a privilege, someone who earns enough money to fulfil the basic needs of their household and still have some money left behind for savings is lucky because we live in an era where many people barely survive with the money they earn from their jobs which makes them do overtime or try to have multiple sources of income to fill the gaps.

Yes maybe saving can also be useful to be used as an emergency fund to overcome problems that occur unexpectedly but on the other hand I can't choose or can't say about which one is more important between saving and investing, because of course both are quite important and recommended to do if you feel financially capable of doing so. But on the other hand, I think I would agree with what you said that saving money can make us lose the value of money because of inflation that can occur at any time and I think it is because of this that people prefer to allocate their money to investment, and yes for the problem of what type of investment they will choose basically for this problem really depends on their respective beliefs or beliefs, which usually maybe more of them see in terms of significant profits and for myself so far I am still maintaining my investment in Bitcoin while waiting for the halving phase in the next four years.

Saving in fiats is also important because it can be used instantly. Meanwhile investment, it sometimes takes time to convert it to fiats, it cannot be used instantly. So, you can't state that only investment that can help our future. You must understand both saving and investment are very helpful for our future. Don't only view it as something that can multiply our money, but also view its function in our daily life! We do any transactions in fiat or our national currency, we don't use investment for this purpose.

People have different situation. Even if there are people who experience it, it doesn't always mean they didn't try to have investment or saving in his youth. They may already use all their saving or investment for a certain purpose. We don't know what the experience of each person, people sometimes have financial problems due to certain problem in their life. So, don't judge people easily!! 

Yes, if we only focus on money, it is very risky because money can decrease due to inflation, so we should use assets whose value is not affected by changing times or other things. It would be a shame if we only held money, and when we were old it turned out that the money was no longer as valuable as it used to be when we collected it (saved).
Now there are many options that we can choose as assets for us to invest in for the future. If we believe in bitcoin, then we can invest in bitcoin, if we believe more in gold then we can also invest in gold.
Apart from having to save or prepare for a better old age, we also have to be able to understand what will save us, lest something like what I said above happen.

Investment is one way to save the value of the money we have, save it from inflation, and make us make a profit. Saving will not make someone rich, there is no profit that can be obtained through this method. Basically, investing doesn't just have to be in crypto, but currently crypto offers greater opportunities to gain profits, provided we have to learn and understand it well. There is no investment without risk, the amount of profit is always directly proportional to the risk, therefore everyone who decides to invest in the crypto world should be quite aware of this.

Overall, we cannot avoid spending money, there are always needs that must be met to support life running as it should. It's true, investing can only be done if someone has an income greater than their needs, it doesn't have to be a fixed income, but I think the money invested must be cold money. If financial conditions are inadequate, only enough to support daily needs, then investing will just be a dream.

If the reserves you mean are in the form of money, this will not always save our lives in old age, because the value of money can also be eroded by inflation or by increases in the price of goods every year. So the only thing that can help our lives in old age is investing in assets whose value will not be eroded by inflation or any other conditions. And if you see an old person who is starting to have difficulties in his old age, even though he used to be rich in his youth, it means that he did not invest his money so that his old age becomes more difficult.

There are always daily needs and other unexpected needs. This is where we need to apply money management properly and carefully, if we remember and frugality, it does not mean that we are stingy, so for us to live it will be easy.

Maybe everyone also knows cryptocurrency gives us more opportunities when compared to other places, but the risk is also higher but the current economic conditions make it difficult for many people to increase income except those who already have a monthly salary and even then often still not optimally meet the routine monthly needs if you want to invest in crypto or others.

I really advocate saving money and I consider it more important than investing because it can help us in emergencies. But I have to agree with you, it is a bad idea for us to save long term because our currency is losing value every day even in countries with developed economies let alone countries with high inflation.
Regarding investment, we have many options and depending on each person's preferences, we can make appropriate choices. For those who prefer safety and stability, investing in gold or real estate will be a much better solution than long-term savings in fiat currency.

It is true that many people can't hold on to money that actually costs money but it is very important to save money for a better future. So that if there is any money problem in the future that problem can be removed with the money saved. The religion of money is like a fluid easily out of hand. And we waste without knowing it so the first thing to do after getting the money in hand should be to identify where the unnecessary expenses are.

We shouldn't manage our savings like to tap into it gradually. Saving is meant to do a particular thing once and not for daily or weekly catering expenses. What should be tapped into is the mecellinous. Which is the money that we keep aside for little and minor expenses after taking care of our monthly needs, emergency funds, and investments.

Savings can be money we gather after a while that we use to start a business or achieve one or two properties. It could be appliances, or landed properties to mention a few.