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Topic: Take care of your money and learn to save. - page 21. (Read 2909 times)

sr. member
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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.

I recently finished reading the book "Psychology of money" and one of my key takeaway from the book is that, as much as possible, I should exclude myself from the rat race of constantly trying to live my life to impress others. Embracing the luxury life when I don't even need it is such a bad idea because at the end of the day, when push comes to shove; all the people I'm trying to impress won't be there to support me.

As long as the basic stuff are enough to cater for my needs and I am contented, I am good. I only realized afterwards that most things I have gotten in the past was solely because I wanted to impress people. Not again!
Yep, mate !
I have also studied this book "Psychology of Money," and what touched my mind is what you described as "Rat Race." This is something that can change your life. That is, Morgan Housel, who is a book writer, has derived this understanding from this that use money on your own estimate, that is, don't waste money on things that are pointless like people. It should be understood that it means to stop impressing each other with pointless things like ratings. Just focus on your goal; only your goal can give you everything.
 
I have also studied this book, "Psychology of Money," and what touched my mind is what you described as "Rat Race". This is something that can change your life. That is, Morgan Housel, who is a book writer, has derived this understanding from this that use money according to your own estimate, that is, don't waste money on things that are pointless, like people. It should be understood that it means to stop impressing each other with pointless things like ratings. Just focus on your goal only your goal can give you everything. So it means to say that money should not be wasted, even if you own billions of dollars, you should not waste it.
sr. member
Activity: 1736
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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.

Most importantly,its adviced or its better to adhere to policies that'll really benefits ones financial lifestyles and growth.Do not save what is left after spending, but spend what is left after saving”...You'll see that every postive approach towards learning and abiding to financial   instructions like this makes life easy and comfortable too.

Having a clear and realistic attempt towards one's goals,and having a plan to achieve those goals within the expected period of time is indeed worth going for.Supposedly,having a goal/plan to improve your financial status,and then efforts put together to achieve successful habit's towards your aim is also another capacity in addition to actualize and establish new saving habits.

hero member
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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.
I think from an investment point of view that thing makes sense, and also from saving point of view, but if you want to enjoy the present moments of your life then you'll have to spend money.

It's hard to be happy without spending money in current times, that's why I believe on should try his/her best to spend some money in order to enjoy the present moments.

Another important thing I would like to say is that when you have skills that are at top levels then you can earn money again even if you spend whatever you have right now.

However, I also believe that spending money on unnecessary things is a sign of stupidity, but if someone spends money to make his/her life happy then that's a good investment in my eyes.

hero member
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If you really want to be more serious, why not invest instead of dividing it with savings in the bank because after all, we must be aware that with the current conditions and the higher inflation rate, money loses its value so that in the end we can determine the attitude by investing because it could be better than having to force to save in the bank.

Indeed for now we cannot completely let go of fiat from us because after all we are still clinging to fiat so inevitably we have to have it but if we relate this to savings then I think it can also threaten you a little because if the value of money continues to decline then we will be increasingly inconvenienced even though there are savings that we have.
Reserve funds or emergency funds must definitely be there to minimize so that when something unexpected happens we are ready but instead of saving even though it is still very good it will be more worth it if in the end we choose an investment that we can really trust.
sr. member
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It's hard to make money but easy to spend. A person can make a millionaire in a moth while h can spend that million in a day if he chooses. I have heard of people complaining that they do not know how they spend their money and before they realize they have nothing left in their account. The thing is that it is obvious that they money they made in a month has been spent on unnecessary things. Based on my experience i believe that the best way to spend money is to spend the money on things that would generate more money back into your account or things that would increase productivity.

newbie
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people who criticize are always the ones who haven't achieved more than you have. It's always that way when you have money, they come forward and be on your side but when you have nothing, you are set aside and even discredits your achievements.

it's best to just keep silent when you have money and never show them your success. not everyone on your side is your friend. sometimes they are just waiting for your failure.

Very correct! Additionally, it's the persons you have around you when you have nothing, not always though, but in most cases, that are your true friends.
Furthermore, there are indices that reveal a person to you as being a true friend; regardless of whether you currently have money or are still on your way to financial freedom. one of such indices is their opening doors of opportunities to you for your growth and wellbeing before and behind you. In other words, whether you are directly aware of it or not.
One

hero member
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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.

Let no one decide for you how you spend your money and not the feeling of others about you on how you spend your money stop you from enjoying every moments of your life you can derive from spending that money. It doesn't have to be buying things for yourself, but you can also derive pleasure from gifting out those monies to others that need it as a form of charity and support to them. I am of the believe that givers never lacks, so when you're spending some on yourself try and give some out so that the one you have will replenish more. Some will view it as a religious point of view but it can also be natural and works that way.

There's limit to everything and when the limit is reached, you should draw back and not overdo. This has to do with giving out and also how you spend your money. When the source of the money is no more depending and you can't source for another, how you spend should also be strategised again because you’ll bit your fingers at home without having anyone to help you through since not all humans are dependable to reach out to even after you’ve helped them before.
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I can imagine how difficult it is to save money when someone only has one source of income with regional minimum wages that vary widely in Indonesia. The highest Regional Minimum Wage in Indonesia is $335 per month, this amount will most likely not be enough to meet living needs for a month during the inflation. The prices of all basic commodities are expensive, then the increase in taxes also causes many bills to increase.
It seems this economic problem is universal. In my country, the minimum wage cannot take care of the needs of an average worker because of inflation. The price of goods and services has increased and some workers will have to take loans to survive. During the last workers' day celebration, the government promised to increase salaries because they are well aware that our currency is becoming worthless.

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Of course, everyone has different life needs and that allows them to save money. But I think it's very difficult because somehow the impact of inflation really means they have to spend more. Fuel prices have gone up, electricity bills have gone up, basic commodities have gone up, even vehicle and other taxes have also gone up. It's obviously difficult to save, but it's still possible if they have more than one source of income.
Seeking for other sources of income has become a priority for salary earners. With the high rate of inflation, it will be better to seek for part-time or remote jobs to back up full-time jobs. Some of my colleagues are venturing into agriculture for them to produce their food and also sell surplus produce.
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I can imagine how difficult it is to save money when someone only has one source of income with regional minimum wages that vary widely in Indonesia. The highest Regional Minimum Wage in Indonesia is $335 per month, this amount will most likely not be enough to meet living needs for a month during the inflation. The prices of all basic commodities are expensive, then the increase in taxes also causes many bills to increase.

Of course, everyone has different life needs and that allows them to save money. But I think it's very difficult because somehow the impact of inflation really means they have to spend more. Fuel prices have gone up, electricity bills have gone up, basic commodities have gone up, even vehicle and other taxes have also gone up. It's obviously difficult to save, but it's still possible if they have more than one source of income.
There is little doubt that it is very difficult to save any money right now, but it is because of this that people need to use the periods in which the economy is doing well to accumulate as much money as they can and then invest it, if they did that, they will be in a way better situation, however the culture of saving has been lost in most countries, with most people spending even more money than what they earn by the use of credit cards, and as soon as the economy takes a turn for the worse, they find themselves in a very difficult economic position.
sr. member
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Saving money isn't as bad as wasting it from gambling or overspending to nonsense things. Saving alone might be a little tricky since we all know inflation will just eat it all. Saving for something like an emergency fund is much better but if you are wise enough you have to choose into investing it on future proof assets like Bitcoin, precious metals/gems and real estate. We should learn to have financial literacy before it's too late.

There two ways which I have tested and I think are quiet effective right now based on the current economy of the country which we are faced with today. First of it is money contribution, which is another way of saving money but through a non-legal method comprising of two or more people coming together to agree to contribute money with the intention of gathering a huge amount of money within the short period of time and giving it into the other, through a cycle.

This is effective for me, when I have a project at hand and I need to contribute to be able to get a chunk of the money through the method. As we do that, I am able to achieve bigger things with the resources at hand. Secondly, through physical and online investments. I've invested in shares with friends to sustain my income for bigger achievements and online investments through the DCA method of investment.
sr. member
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Saving money isn't as bad as wasting it from gambling or overspending to nonsense things. Saving alone might be a little tricky since we all know inflation will just eat it all. Saving for something like an emergency fund is much better but if you are wise enough you have to choose into investing it on future proof assets like Bitcoin, precious metals/gems and real estate. We should learn to have financial literacy before it's too late.
legendary
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I can imagine how difficult it is to save money when someone only has one source of income with regional minimum wages that vary widely in Indonesia. The highest Regional Minimum Wage in Indonesia is $335 per month, this amount will most likely not be enough to meet living needs for a month during the inflation. The prices of all basic commodities are expensive, then the increase in taxes also causes many bills to increase.

Of course, everyone has different life needs and that allows them to save money. But I think it's very difficult because somehow the impact of inflation really means they have to spend more. Fuel prices have gone up, electricity bills have gone up, basic commodities have gone up, even vehicle and other taxes have also gone up. It's obviously difficult to save, but it's still possible if they have more than one source of income.
hero member
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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.
That is because you're a reckless spender. I mean if you're this kind of spender, you're wrecking your money into waste as you have money but spends it for no reason. Stop being irresposible.

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. 
It is so true, when you have money, everyone is your friend and relative. But when you have no more money, you're nothing to them. So, the conclusion on this is not to impress other people. Don't live by that principle.

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.
One of the best technique financially is to less asap your savings. Yes, your savings goes first and you set it like 5%, 10%, 15% or even more. So that everything that will remain are going to go with your expenses but before that happens, you already have saved.
sr. member
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I don't mind being called stingy if that means that I'm saving myself for a lot of troubles and headaches in the future. Being stingy and tight about money is actually a skill nowadays that not a lot of people can do because they are all eaten by consumerism. Everyone is always eyeing for new things to brag in social media nowadays that they tend to forget that the future lies ahead of them, and that money they have splurged out today may have been used tomorrow in a lot more important purchases/expense. It's always important to have some savings ready for the rainy days and not just think about short-term purchases to satisfy yourself.

Capitalism and consumerism has eaten us completely. Many people can not escape it anymore and are having a hard time controlling themselves. To be honest, If I see someone making good financial decisions and saving up I would be very impressed. For sure that person or you will be well taken care of when you are old and retiring.
hero member
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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.
This applies to people who have a fixed income. I think money management must be done wisely if you don't want your future to be in trouble.
The money saved will not increase. The concept of thinking of wise people in managing finances will not let their money sit idle. They set aside the money for emergency planning. The rest of the time, they will continue to try to make money from the efforts they can make. Investment is a smart decision in managing finances and for me it is saving money which saves money.
legendary
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I don't mind being called stingy if that means that I'm saving myself for a lot of troubles and headaches in the future. Being stingy and tight about money is actually a skill nowadays that not a lot of people can do because they are all eaten by consumerism. Everyone is always eyeing for new things to brag in social media nowadays that they tend to forget that the future lies ahead of them, and that money they have splurged out today may have been used tomorrow in a lot more important purchases/expense. It's always important to have some savings ready for the rainy days and not just think about short-term purchases to satisfy yourself.
sr. member
Activity: 1820
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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.

It's a good thing to save and invest for your future, it's a pretty basic thing that we need to learn if we want to achieve financial freedom, but there are still some people who don't care or are safe not realize how important saving and investments is, I realize it the hard way back when I was just a college student, I was lucky to learn cryptocurrency and Bitcoin, I was able to join many projects if you are familiar with ICO back in 2017 you could be lucky most of the times earning thousand of dollars in this kind of project. So as a college student, I have a huge amount of money but it just ends up being spent on so many things, I really regret it not saving a lot that time, I always thought that I could spend that money since I'm still a student and when I graduated and get a job that's the time I would start to save so for now I just enjoy it, which is a pretty bad decision for me.

Now, I have a stable income but I just wish that I saved a lot that time, that could probably help me a lot right now if I just knew it, it's really hitting me hard right now that I already realize how to save and invest money, Probably it's also a good thing because if I didn't experience it I wouldn't going to realize it, now I don't spend my money on things that I cant really afford. I manage my financial, I would say that I have a pretty solid financial foundation having savings, insurance, investments, etc. which allow me to hold my cryptocurrency for the long term.
full member
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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.
sr. member
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Yes, in fact money is the main thing in life. Indeed, sometimes we are in trouble even though there is no one out there who wants to help us. Ironically, sometimes we are nice to them, it is better to borrow money from relatives who are close blood relatives. If you have money, appreciate it, don't buy useless things, make the best use of the money, as you said above. However, saving and investing is not enough for us if we still receive 1 income every month. Yes, we need to create an additional basis for our income, such as opening a business that we are interested in. If your finances are stable then you can invest the money.

Therefore, it is necessary to manage finances very well. I don't think it's a problem if you only get one way of income at the moment, if we are able to manage it well then having enough to live your days is still quite safe instead of investing. I won't care at all what people say because we are incapable of pleasing other people. I still really agree that there are advantages to helping each other, especially family and relatives.
sr. member
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Yes, in fact money is the main thing in life. Indeed, sometimes we are in trouble even though there is no one out there who wants to help us. Ironically, sometimes we are nice to them, it is better to borrow money from relatives who are close blood relatives. If you have money, appreciate it, don't buy useless things, make the best use of the money, as you said above. However, saving and investing is not enough for us if we still receive 1 income every month. Yes, we need to create an additional basis for our income, such as opening a business that we are interested in. If your finances are stable then you can invest the money.


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