Topic: The first rule of investing is saving - page 2. (Read 1839 times)

Indeed, if there is no debt, one can freely save because there are no other burdens. but people who have debt can also save, when there is leftover money that can be used to save. On the other hand, with the right way of saving, namely investing, even if we save a little money, it can grow rapidly if we are good at choosing investments.

Dont use on funds which you cant afford to lose indeed considering that crypto investment is always been that risky and it isnt something that you could  just go all in and wont mind about the risk involved.
Dont make use of the funds which are intended for your daily living, its not bad to have investment intents or plans since you wont really be progressive if you  dont do something but always
consider out about the danger and possible losses that might encounter which would really be that pretty normal when you do invest.Accept the risk and plan it well
so that you wont be ending up miserable.

I agree with you and I think while investing, one should always put this at the back of the mind to not invest more than they can actually afford to avoid being panic aftermath of putting the funds into it.

Indeed, I think before embarking on investment, plan to spend reasonably, save and do not waste on unnecessary things to have an investment surplus.  After that, we want to invest profitably, it takes a long time, so practice patience and wait.

I think there is another important factor. This is a person's loan. If we have one or more loans, it will be difficult to save. Most of the money will be spent every month in vain. As long as we are in debt, all our funds will go to waste. I believe that in order to start saving your money, you need to get rid of debt and then you can start saving money.

Yes, this is a very good concept for future planning. Taking savings to invest is the only way to make money work for us. There are some people take out loans to invest, this is a wrong concept. When the market has not been able to provide us with profits, it will be very difficult for us to pay our monthly loan bills. Investment rules are concepts that we create ourselves so that our financial management becomes regular. Make investment a priority when all daily and monthly bills are sufficient for us to pay. Don't take risks, because the market can't promise a profit.

You actually just made a vital point here, and I strongly agree but please permission to chip in, most people have this mindset that it's only when you have enough and you are earning a huge capital that you can only invest, which is totally wrong because investing first starts with the mindset that you want to sacrifice a certain amount of money each month to raise an "X" capital within a period of "X" number of days, months or year. So you don't need to be a millionaire to invest, because even with that $100, $50, or $30 you are earning monthly, you can still invest.
But one thing about investing is that its never always comfortable but you just have to adapt to it for you to achieve your desired goal, because is very tempting knowing you have money but just have to forgo certain things because you have a plan for a better tomorrow because this is one point where the majority loose track it

The first condition to invest in is to save money. Why do we invest money?

Of course to get double the value of that money. But there are a lot of risks here. Because the stock market/crypto market goes up and down always. No one has control over it.

In this case, you should not invest all of your savings that if you lose, you fall into big trouble. In case there is a bad situation you have to have money to beat it.

It is important to keep in mind that savings and investment are two very different things. In the case of savings, the money set aside can be used at risk.

But once that money is invested, it will not be possible to bring that immediately. So you should be aware of all the risks and then save money and invest. In bearish market target several points, and place orders equally with several installments. You can take a loan but you should have to know well what you are going to do.

I agree with your opinion here especially about how one can take advantage of an unexpected situation in the market (price correction or dump). In principle, having savings in fiat form is not an investment but is a starting point for having a certain amount of money that can be used to invest at any time. It's true having it on one of the brokers or trading platforms allows us to buy something at a time when people miss it, which is great but when it's only held for the long term then we really shouldn't trust any amount of capital in a broker or exchange especially when it's not being used.

Ideally, both cryptocurrencies and stocks are actually the same in generating profits, but cryptocurrencies have a fairly high risk of volatility compared to stocks even though we really know that the results we will get in the long run are worth the risk. But the point is not which one can make us a lot of profit, but we must really be aware that only by investing will we succeed in making money work for the owner.

In theory people are so amazing here, I am about to think whether it's wealthmentalk or bitcointalk.
The first rule of investing is finding opportunities! If you don't have goals, dreams, wishes and don't use opportunities like computers, the web, cryptocurrencies, then you fail!
The second rule is networking! Networking means a lot in life. You can be Johnny Depp but without good connections, you may end up in the street along with drug addicts.
The third rule is to work in a company/area and position, that develops you and doesn't use you like a robot. If you passed rule two, then you can move on to the third rule without a question.
The forth rule? You know!

When it comes to investing, I don't really understand why everyone talks only about stocks or some forms of assets. What about you? Maybe you have great genetics in something amazing? Maybe you are passionate with something? What about bodybuilding? There is one Canadian guy called Chris Bumstead (Definitely check him) who invested in himself and now has a great outcome.

What if you can't sing well but deep in your heart are addicted to music and can write great songs with great lyrics? The studio will fix the vocal issues and when it comes to live performances, people still support the singer whether he or she sings well or not. There are a lot of cases of this and I believe you may think about some of your favorite singers

On my part, as much as possible, better use your own money for investments especially on high-risk investments.
Some people can make borrowed funds turn around but not all have the capability to generate profits.
If you want less trouble, better be contented on what you have and not aim for big if you can't afford yet.
Because if you are truly confident with your skills, you can already have profits on whatever you have.

It seems that when they say this they have been influenced by Saylor who actually said that by borrowing money and then investing in bitcoin
but as you said this is still very risky it will be safer if you use your own money for this.
The logic is quite simple because there are indeed many people here who say that investing must be with money that is at least not too used, in the sense that we already have provisions for living and the rest will not be used for some time.
and we really don't need to do anything extreme to invest like that

Easy to say but would really be that hard when you are in a situation on  which your income or earnings  are just enough for your everyday needs for you to survive which you wont really be having the chance for you to

save up thats why people do really end up on having or taking some loan just for them to jump into something or investment that they do saw as an opportunity to make profits or money.
Although not all these kind of decisions end up on positive since we know that risks on investment doesnt really end up well always.

Some people choose to loan so they would have funds for investment which I think is too risky when it comes to crypto investment. I believe that the wisest thing to do is to save so there would be enough funds that we could allocate for investment. Crypto is volatile so there's no guarantee of sure profit all the time so saving would be wiser than borrowing.

There's some guy on the radio I always hear talking about just what you mentioned, and he advises younger people to work as much as possible for at least a year and cut out everything that's not an absolute necessity, and to save every penny.  And I swear I wish I'd worked harder when I was in my late teens and twenties instead of being the stereotypical slacker that I was.  I also wish I'd started investing in the stock market much earlier than I did--and it's not like I didn't know about it or how to get started.

I might have posted earlier in this thread, but saving money is one thing, but investing is another thing entirely.  Investing is planning for the distant future, whereas saving might be for a car, a house, whatever. 

I'd also point out that it's a good idea to have some free cash sitting in a brokerage at a time like this when sock valuations are extremely high.  When there's a crash, there's a buying opportunity that many people miss, either because they don't have enough money put aside to jump in or they just don't know there's a bargain to be had.  The same goes for the crypto market as well.

huge balance also suitable for crypto investment.just take stable coins staking in reputable exchanges such as binance. if compared with deposit return in conventional bank, staking  give us bigger return. with low and moderate risk  we should try it with huge number, dont worry about exchanges security, as long as we activate 2FA our account will save.

this is very precise and makes sense. Invest instead of saving in preparing for the future. We cannot deny that the money we save in the bank or at home to prepare for the future cannot at all move to benefit us, even when inflation occurs, our money is no longer as valuable as it used to be. Investing has two advantages for me, namely the first can avoid inflation and the second money can work for us.

Saving is the most important thing in investment, if there is no saving then this is like gambling even though the investment provides a large profit, as investors we must be smart in choosing investment so that saving for the short or long term.

We must increase the volume of investments, for example, every month. It can be passive income, but it must be done regularly, In this case, the investment will increase our profit. I want to insure my money, but it will require additional cost. Many factors influence our investments. Inflation has increased recently. But we hope that the situation will stabilize soon. I want to believe it.

And it it quite evident that this security and control can't be achieved with our government handling our privacy because they lay embargo indiscriminately on our finances at their will while immunity covers up for their own illegal financial coverings, we can't as well trust them because of the transaction fees and charges on cross boarder transactions, as you have said, the best way to handle security and privacy is when it is being handled by individuals capacity, i understand that any thing that has to do with third party is not privacy at all.