Take care of your money and learn to save. - page 17.

Accardo

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Quote from: MissNonFall9 on May 11, 2024, 06:34:07 AM

Quote from: Bitco55 on May 11, 2024, 04:58:28 AM

Yes, people's financial situations aren't always the same, but the thing about people coming code to you when you have money and leaving you when you don't isn't something I'm making money for. Spending money just cause you want people to be around you is careless and out of desperate desires.

Personally, I'm more concerned about the "lonely at the top" phenomenon. Because people don't really care about anyone anymore, just themselves and so should you. Take care of your money, and yourself, invest in yourself, and save more, and the future will take care of itself if you do the right things now.

Although money is not the ultimate everything to people, money is more than many things to people. No one can deny the need for money in this world. But in some cases people create controversy about money like money can't make people happy can't restore lost health etc. But if you think very deeply, the meaning of money is found. For example, the financial status of people is not always the same. When a person is in danger or in financial crisis, the person or relatives can be known well. The only reason is money. Because if there is no money, even close relatives keep a distance. So we all should take care of our money saving and investing.

Time is more important than money. It's better to spend money to save time than to waste time saving money. Investment also requires time to mature. Making more money is better than saving more money. Because being able to secure a source of income that'll last the test of time, shows a good usage of time. When we utilize our time very well going out of money wouldn't be a trouble anymore. Having a single source of income is what makes people worried about saving money. Look at the inflation, the amount of saved money in your bank depreciates. It's better to follow the trend, earn bigger to battle the increase of product prices in the market. However, it's always nice to have some funds in our possessions not just going completely out of money. At least while saving, invest on a profitable business for comfortability.

Hypnosis00

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Quote from: Lidger on May 04, 2024, 02:21:26 PM

The amount of money that we are earning now is divided into several parts and the remaining money is the money but if we want we can invest or save so that if there is a financial crisis in the future but this saved money will support us well.

Well, the sad reality is that we know how to spend our money on luxurious stuff but never know how to value it and spend into the right thing.
Many individuals have huge salaries but still have no investment plan which in the end, they remain empty and broke.

We usually just realize our wrongdoings when we face difficulties in life and say, "I will money next time". Too good to hear but this kind of promise is usually broken.

So I would say that if we want to change, we also need to change our mindset about money because the moment we know how to value our hard-earned money, the more we care about it and are able to spend wisely.

mamesso

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If you want to save money in the short term, just learn to save. But if what you plan is for the long term, then you have to invest. Money has an attraction like a magnet, people will respect you and always listen or confirm what you say even though what comes out of your mouth is just empty talk.
You have to manage your finances wisely, make several portions and then divide the percentage of the amount that is appropriate for each portion. Savings should not be excluded if you don't want to disrupt the investment you have planned for the long term, don't let yourself live with a lack of resources in the future due to not being wise in managing finances in the past.

Deddyhoku

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It's really hard to safe in the world with 10% inflation rate at least. There are not so many places that can outperfom it. Sometimes i think that it just better to spend everything that you have asap to not burn it

MissNonFall9

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Quote from: Bitco55 on May 11, 2024, 04:58:28 AM

Yes, people's financial situations aren't always the same, but the thing about people coming code to you when you have money and leaving you when you don't isn't something I'm making money for. Spending money just cause you want people to be around you is careless and out of desperate desires.

Personally, I'm more concerned about the "lonely at the top" phenomenon. Because people don't really care about anyone anymore, just themselves and so should you. Take care of your money, and yourself, invest in yourself, and save more, and the future will take care of itself if you do the right things now.

Although money is not the ultimate everything to people, money is more than many things to people. No one can deny the need for money in this world. But in some cases people create controversy about money like money can't make people happy can't restore lost health etc. But if you think very deeply, the meaning of money is found. For example, the financial status of people is not always the same. When a person is in danger or in financial crisis, the person or relatives can be known well. The only reason is money. Because if there is no money, even close relatives keep a distance. So we all should take care of our money saving and investing.

Bitco55

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Yes, people's financial situations aren't always the same, but the thing about people coming code to you when you have money and leaving you when you don't isn't something I'm making money for. Spending money just cause you want people to be around you is careless and out of desperate desires.

Personally, I'm more concerned about the "lonely at the top" phenomenon. Because people don't really care about anyone anymore, just themselves and so should you. Take care of your money, and yourself, invest in yourself, and save more, and the future will take care of itself if you do the right things now.

nurilham

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Quote from: Lidger on May 04, 2024, 02:21:26 PM

People's financial situation is not always the same as we have enough money now but in the future we may not have enough money to spend. Now we have enough money so now I will go out of my way to spend money as I want for no reason then later when I don't have enough to spend but no one else will give me money to spend.

Indeed. We don't know how the condition of our life in the future. We may have no good income anymore, or we may experience something that require a lot of money. So we must have savings to deal with unpredictable condition in the future. I think everyone must have the saving, it is a part of our future plans. There is no person who wants to risk himself without reserved money. Moreover, this life is increasingly dependent on money, everything requires money. The only way is to try having established money. We may have saving and investment to ensure this.

Well, spending money with no clear reason is a careless way. Spending for unnecessary thing is a bad habit. I hope none of us do this, it is not a habit of wise people. Specifically for a man who has wife and children, spending for no clear reason is stupid action. We must be wiser to spend money because the daily needs are increasing day by day.

Bobrox

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Quote from: Yatsan on May 09, 2024, 06:59:16 PM

Saving is essential however, not all people have that privilege to do so. In some places in particular with third world countries, wherein some people are only earning enough to insufficient amount on each day which makes it hard for them to save or have savings. There are just circumstances we cannot aid in an instant but the idea is there. Aside from saving there's also investments an individual could engage oneself if it is for the benefit of his/her future. The idea is growing the amount of money bigger through the years than to just let it sleep without any source of growth unless you'd put additional amount into it. At the end of the day you need to choose which would work best for you depending on the cashflow of your salary.

Behind how small salary receiving every month not all people around the world has opportunity spend few percent for saving assets, most of countries has below standard of payment salary and required hard working around 12 hours every day. In my country Indonesia has difference cases and difficult for spending around few percent of salary for saving because too expensive daily cost than with how much payment salary receiving.

I think need to brave out from comfortable zone looking for opportunity with higher payment salary on bigger companies outside to bigger country, I think will make us have bigger chance to get more saving behind bigger salary receiving and easily for spending as investment assets.

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Quote from: Lidger on May 04, 2024, 02:21:26 PM

The amount of money that we are earning now is divided into several parts and the remaining money is the money but if we want we can invest or save so that if there is a financial crisis in the future but this saved money will support us well.

Inflation has eaten up our currency badly, there is no significant purchasing power left on them but some countries are still able to control their own but even with that, I don't believe in those numbers because the price of goods has increased by far than what is been reported about inflation. If you want to fight that, then the only way is to invest your money into an asset that can appreciate with time and the asset must be active to give you something as inflation grows.

Quote

We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

You don't have to listen to what people say, your financial status is your problem and not anyone thing to solve and if you go broke because what people will say, then you will suffer alone because when you have money, people might want to associate with you but by the time you have nothing, everyone we will perhaps your family might stay behind but people you least expect to disappear will all leave.

ChiBitCTy

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As a financial guy I tell all my clients that you should try and save at least 15-20% of your earned income towards retirement. If you can save more, than certainly do so. Run a monthly budget AT LEAST once a year, making sure you're saving as much as you potentially could be. Then make sure to do everything you can to be saving money (cut coupons, sign up for rewards apps, and things of this nature..it can go a LONG way).

legendbtc

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Quote from: Mame89 on May 09, 2024, 06:03:14 PM

Quote from: legendbtc on May 09, 2024, 03:53:19 AM

When it comes to saving, most people will think of stopping spending on non-essentials, but what are non-essentials when we only spend on basic daily needs? Instead, why don't we find ways to increase our income? That will help us spend comfortably and help us save more easily. Not only knowing how to save but not thinking about how to increase your income, your family will fall into difficulty when you focus too much on saving and spending stingily. If we focus too much on planning to save money, it will only make us more tired of life. Instead, it would be better if we looked for ways to increase our income.

Agree. The mindset that by saving our money will increase or become rich must be eliminated from now on. because what is clear is that saving does not make us rich due to inflation every year so that we lose value. So save for your daily needs and allocate the remaining emergency funds for investment, not for buying things you don't need. This is not stingy but this is to create financial freedom in the future. If we are smart about finding additional work that increases our income, of course this is better so that we can spend on the things we need to enjoy life, but not everyone can easily earn more income, people's skills are of course different. In essence, whatever your income, don't forget about investing, because this will create your financial freedom in the future rather than saving.

Saying that doesn't mean I'm against saving, what I just want to say is don't focus too much on saving but instead find ways to increase your income so you can live more comfortably. Increasing income by doing business, working part-time or investing depends on each person's choice, and it is not necessary to invest while ignoring other ways to make money. Because investing also does not guarantee us financial freedom or will always bring profits. Everything has its risks, so investing or doing business depends on each person's preferences and abilities.

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Quote from: jaberwock on May 08, 2024, 01:05:51 PM

Quote from: atookz on May 05, 2024, 08:23:25 AM

I once heard a saying that the more money the more friends and friends are more valuable than money but I have a principle that the more money, the harder it is to choose friends and money is more valuable than friends. Money can select friendships so that we can have a quality life. Taking care of your money and learning to save is the right choice, because the benefits will return to ourselves. When we save indirectly we learn to appreciate money so we can use it well according to our needs, not just our desires.

That principle you heard is true. We know people, we are mostly attracted to money more than anything else. It is like money is a big magnet and people will just get magnate if you have lots of it. Money is only a paper or a coin, etc... but a friend is a person, so yeah that they are more valuable but there is an exception to that of course for some people. They are still choosy when it comes to making a friend and they don't care if they will have less but as long as those friends are true to them and they have other qualities that they also like. Not to be harsh but your principle or your standards sound high and something tells me that you can ignore poor people easily.

You know what you mentioned is correct, in reality, people who have money do different things, you or we used to have no friends, but if you have a little money, but when you have money and other people around you find out, suddenly you have a lot , the one who was not your closed friend suddenly becomes a closed friend, the one who was not your friend suddenly becomes your friend.

Those who used to ignore us will suddenly always call you, take you for a walk, and so on. That's what money does—those who used to look or think badly of us suddenly become good people to them. In short, having a lot of money gives us respect, power, and authority.

Yatsan

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Saving is essential however, not all people have that privilege to do so. In some places in particular with third world countries, wherein some people are only earning enough to insufficient amount on each day which makes it hard for them to save or have savings. There are just circumstances we cannot aid in an instant but the idea is there. Aside from saving there's also investments an individual could engage oneself if it is for the benefit of his/her future. The idea is growing the amount of money bigger through the years than to just let it sleep without any source of growth unless you'd put additional amount into it. At the end of the day you need to choose which would work best for you depending on the cashflow of your salary.

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Quote from: Lidger on May 04, 2024, 02:21:26 PM

We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

We worked hard for it and that is why we are also the ones to be responsible of taking care of it, not anyone. And don't be moved with people trying to mock you because they're not able to get some money from you because you've been saving it for your important things. Don't be that type of person that relies on the impression of other people, we're already on 2024 and things have changed and most of us are doing things for our survival. If you're the type of person that relies sole to the words of people and you get that worry that people should say good on you, forget about that.
You only need to rely to yourself and what's going to be good for you and your family. Usually, those people that are stingy to you are the ones that didn't benefited from you or you didn't give them the favor that they're asking. It's okay, you don't live for them to live but you live for you to live and help yourself get up into a better situation. And if you're a family person, you're there for your family and not for someone else that don't have any contribution to your life.

Mame89

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Quote from: legendbtc on May 09, 2024, 03:53:19 AM

When it comes to saving, most people will think of stopping spending on non-essentials, but what are non-essentials when we only spend on basic daily needs? Instead, why don't we find ways to increase our income? That will help us spend comfortably and help us save more easily. Not only knowing how to save but not thinking about how to increase your income, your family will fall into difficulty when you focus too much on saving and spending stingily. If we focus too much on planning to save money, it will only make us more tired of life. Instead, it would be better if we looked for ways to increase our income.

Agree. The mindset that by saving our money will increase or become rich must be eliminated from now on. because what is clear is that saving does not make us rich due to inflation every year so that we lose value. So save for your daily needs and allocate the remaining emergency funds for investment, not for buying things you don't need. This is not stingy but this is to create financial freedom in the future. If we are smart about finding additional work that increases our income, of course this is better so that we can spend on the things we need to enjoy life, but not everyone can easily earn more income, people's skills are of course different. In essence, whatever your income, don't forget about investing, because this will create your financial freedom in the future rather than saving.

Razmirraz

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When you talk about money in your present and future life, you need to prepare early before the worst times in your life come, every time you spend money you need to pay attention to how much is spent and how much is left. Arranging financial management is very necessary to maintain financial stability in the future, you must be able to be your own bank so that you don't spend too much money.

In this life there is always drama in it, you have to be a director to find out who has been hiding behind falsehoods and who has been a good friend to you. Never forget friends who always support you and help you in difficult times, they are true friends for you, whatever happens to you, they will never leave you when you are in a difficult situation.

pinggoki

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Thanks for the advice Captain Obvious but there's something about this thing though, it's not easy to do it if you're living from paycheck to paycheck and you've got bills to pay, how can you take care of your money if you don't have anything left whenever you're getting paid? That's difficult to do for some minimum wage earners, maybe you can do it much easier when you're with someone since you've got a combined money and that additional money for you both can be a good way to survive and make some extra money which you can choose to invest or just plain save with no growth or interest.

Our lifestyle is different for each individual and so most advice have a 50/50 chance of becoming effective, say for example, the advice of stop spending money on stupid stuff, might not work if that person is a poor or doesn't have a lot of money and they spend a lot of money in clubbing and might work when it's the same person but not having any money to spend on clubbing.

mvdheuvel1983

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Quote from: Lidger on May 04, 2024, 02:21:26 PM

People's financial situation is not always the same as we have enough money now but in the future we may not have enough money to spend. Now we have enough money so now I will go out of my way to spend money as I want for no reason then later when I don't have enough to spend but no one else will give me money to spend. It is a fact that as long as you have money and as long as you spend money behind others people will speak for you and people will be with you but if one day you want to walk with them without spending money then you will find no one to walk with. Since money brings people closer and money drives people away, money should be given the most importance.

The amount of money that we are earning now is divided into several parts and the remaining money is the money but if we want we can invest or save so that if there is a financial crisis in the future but this saved money will support us well.

We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

Money should planned for, we don't have to spend recklessly because we have it at the present, have we ever think about it if we don't longer have the money, money draw friends close as you have already said but absence of money does the opposite.
Money have to be invested into something meaningful, am not an advocate to saving money, although we can have a little savings for ourselves but the major thing should be investment, investment is long-term venture, when you invest your money, you are building a good future for yourself and you unborn children, I didn't say that savings is not good but I think having your money in the investment is better than keeping it in cash that's why I will always support investment, money should have a good channel to multiply, it should not be stagnant without yielding profit.

Gaza13

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Quote from: Haunebu on May 08, 2024, 01:42:12 AM

Saving money is easier said than done thanks to the unpredictable nature of life. People who have lots of money usually can survive well even if they don't save their money properly.

However, the same cannot be said about people with small-medium amounts of money. Money management is a tough skill to master, but it's worth it at the end of the day.

It is true that money rules this life, without having money we will not be able to survive. I agree with what you said, it's true that life is unpredictable, Do you believe rich people don't keep their assets like money well? In my opinion, it's impossible for rich people not to think about their money, they will definitely think about it in order to look after it well. If I look at it, it seems like the lower class are the ones who have difficulty saving because they don't have a permanent job, I think the middle class doesn't seem to have any difficulty. This one skill saves their usng.

OrangeII

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Quote from: Natalim on May 08, 2024, 04:58:37 PM

Quote from: Lidger on May 04, 2024, 02:21:26 PM

...
We must be careful about money, if you are careful about money then there is no problem if people call you stingy because some people's job is to say bad things about others.

Unfortunately, this is the truth for most of us... when we have huge earnings, we also increase our expenses which still end up with no savings but a possible debt.

Fund management is commonly a problem for the majority. We think about savings but nothing happens due to unexpected expenses. So many people remain poor due to a lack of financial management education and risk appetite. Usually, we don't have a long-term plan, so only a few people take risks in investing while the majority rely on their job's salary.

Yes, sometimes when someone has a lot of money and income, they feel that it will last forever, so they don't manage their finances well. Things start to get messy when their income starts to decrease, but they have quite large bills or large living needs. Without good management and good investment, this will little by little lead to bankruptcy. I have seen this happen to many people around me. However, financial management is something that needs to be done from the start.

Topic: Take care of your money and learn to save. - page 17. (Read 2909 times)