Topic: The savings problem - page 8. (Read 1932 times)

Really hard to save when everything is really that shooting up specially into those commodity price on which we know that this isnt something that getting lower as years passing by.
The worst thing that even payrates or salary or wages arent that increasing anytime soon. If they do make some increase then it is really just that peanuts on which it doesnt
really be able to compensate at least with that inflation effects. This is why into those people who are really just that earning less would really be just that sensible that they should really be finding
any income source that they could be able to get on so that they could really be able to survive.

We are really that finding up methods and ways for us to compensate somehow for us to survive specially if you do have a family to feed then you should do more work for you to have
that extra income but we do know that not all would really be that someone whose really that good when it comes to this one.

Dear, do you ever think saving money is getting more difficult day by day? it is because of the high inflation rate we all are facing in the current span well let's say if the person is getting a good income right but on the other hand his expenses are also increasing due to an increase in inflation rate but if one gets success in saving his some of money it will be prove a good luck for him/her in the future needs.

I think we should divide our salaries/income into three parts, one for the expenses, second for investing to make more money out of it, and third for saving which I think is a good strategy for making a good portfolio.

Saving money is something that have never been easy even if you earn a reasonable amount of money. When you have money it is very easy for the money to be spent because that is when you will have a lots of things and demand to solve with money. But savings can take place by good decision even with the demands out their. Savings is not just easy for any body but with discipline one can still try it's best to save something no matter how much that is earned as income.

You mean the generation you know from tv shows and social media?
That is about 15% of the generation. While many dream of becoming a influencer they actually won't make it to that stage.

And there's nothing wrong with that, their life their choice.

The current generation like to become popular, get validation and exploring anything. Unlike the old generation where they spent most of their times to work and save their money in order to enjoy their retirement.

Since the current generation don't care with retirement funds, it means they will work until they die.

We need holidays to breathe fresh air, right? Flip the script for a moment. Life isn't simply vacations. A mix of necessities, wants, and surprises. Foresight and renewal are essential. We construct for tomorrow as well as today

The kids saving just for vacations is a start, but there's more. Like chess with nature, life's unpredictable. You've got to think several steps ahead. Savings aren't simply for enjoyment; they protect you from life's surprises. Emergencies like health crises aren't maybes. The main challenge is teaching kids balanced saving. It's about being present but focused on the future. Help children see savings as a foundation for a strong, well-rounded life, not just a means to an end

Sorry but I am having the opposite opinion regarding your point wherein the present generation has learned or even smarter than the past when it comes to money management because I can see them doing the other way. Lavishness is what will describe this young individuals that are posting indiscriminately and mostly on social media about their lifestyles. If I am not mistaken their lifestyle today doubled or even tripled that of the previous generation when it comes to excessive spending one reason is also inflation but yeah they don't care about assets though not all of them but majority of them do.

Youth generation have been smart than old generation with money management, they have long term planning with salary payment how much have spending for daily needed and how much percent have use for saving assets. Many of them not use saving only but want to increasing their saving fund by investing in stock and some of them put in Bank deposit until invest in bitcoin. I am so excited with youth generation have planning to credit house with their salary payment not really huge but enough for saving fund and great manage planning for the future.
But for youth generation must be smart with investment assets, saving in the Bank is not profitable much because fiat have more inflation values in the future and put saving fund in Bank deposit or invest it in stock or cryptocurrency will more profitable in the future.

I feel like our generation learned how to understand financial and economic life at an earlier age compared to the previous generation. Which is honestly a good thing. Because the younger generation becomes aware of how hard it is to live in the economy. I think it's one of the factor why there's a decline in birth rate since people don't want child because of how expensive it is. And of course, we really can't deny that inflation is growing rapidly, but the salary isn't increasing as much as how inflation grows.
And tbh, I also feel like back then, things were more inexpensive and their salaries can cope up with the living expenses. Even my aunties were able to purchase their land at their mid ages. Unlike now where it would be hard especially if you're living with an average salary. If an average person is having a hard time to allocate his salary for his daily living expenses, of course it's harder to save.

going on holiday and going on an excursion is one way to pamper yourself, so that is a normal thing, in fact, in my opinion, what is not natural is people who do not want or have no desire at all to go on holiday, because in my opinion, taking a vacation is a necessity that must be done. with my own aim to refresh my mind, including making me relax because I like to vacation in places with a natural theme, and of course this requires money to do it, but the other side that must be considered is finances too, as you said, with holidays like This doesn't mean we have to spend all our savings. because that is not a good goal.

In my own environment there are many young people who go on holiday, but before going on holiday they collect money first or save, but only for the holiday, so after going on holiday they don't save any more. I think they have a little thought that needs to be corrected, because even if they don't have a purpose for going on holiday, they should save for their future and for their own good, also on the other hand, of course we will need emergency funds that we must have at certain times. , so in my opinion the importance of having savings is that it can help us at certain times, especially if an accident or illness occurs, of course this requires money to pay for treatment, so the younger generation should be able to think on this side.

I think the problem in which people are finding it difficult to save money is because of the inflation rate, the inflation has cause living to be very expensive that working people can't even afford to get the basic things for them.  This inflation problem is a challenge that is affecting most countries and it will surprise you that some people have reduce their level of standard of living but still the inflation affecting them that it is not even easy again to save money. The inflation is affecting the poor and the middle class more, the rich people are making more money because before this time that inflation as not gotten to this level the rich people have already gotten a standard foundation that they can always create wealth even with the inflation challenge.

The problem of saving money this time is not just an issue of living luxurious lifestyle but why it is hard to save money is because the inflation rate that is increasing on a steady,  this will really affect people to meet up with their responsibilities. I think one just need more source of income to be able to balance financially.

It is not that changes are needed, changes are coming no matter what, capitalism gained the support of the people as it brought incredible benefits to everyone, many poor people could enjoy a nice salary and a better life, the middle class lived a life of privilege that even the most powerful people a century ago could only dream, and in return the richer got richer as well, so everyone won with that system, but now those at the top want everything for themselves, the middle class is disappearing, while to poor are just getting by, and if this continues for long I can assure you it will not be long until people demand for another system, even if it is to their detriment.

It is everywhere and even the developed nations are lamenting unless you have a high-paying job which is not so many people that would have the opportunity to secure. The best is to have multiple jobs/works or any other means by which income would be entering your account/wallet, be it formal or informal, that's how you can make it in life and you can be financially free. Many are resolving to save too, but to many as well, the saving plans are not easy, they will try and will continue to fail due to too many commitments and bills to pay. This is why the problem should be solved from the root, and that is the income problem. If you ever have an income problem, you will surely have a savings problem unless you are such that is not financially burdened by friends and family members, while some have extended dependents to take care of.

This is why I do not bother myself with any savings calculations, and it is either I have the money to do whatever I want to do or I do not have it at all. This means that I do not force myself to save but rather invest to make more. When my investment with other hustle materialises, no one will tell me to pursue my goal with the money even without having to frustrate myself on the savings. Above all, let us find a way to make more money and not let the banks be using our money for free while we earn so little. It can be a short-term investment in companies, or direct investment online. You can also buy land with your money and find other means to earn more to achieve an end.

I agree that Purchasing Power is getting worse each generation, based on this site Inflation Calculator, 1$ dollar in 1900 is now equal to $0.03. It's crazy to see how much our dollar getting worse each generation and there are no real solutions for this, in my opinion, what we can do is we should not waste on anything like food, gases, technology, electricity, water, etc. Many young people these days love to waste many things and we should change this habit from our kids so the next generation should value for what they have.

That's right, there should be a prediction that life does not always go without financial problems, for me vacationing and spreeing is a form of entertaining myself but that does not mean spending all of it or even taking from savings, I think there is still that. It is not a problem to fulfill desires including going and buying what you want as long as the ratio is maintained and there is still savings (clear management) that I feel when I need money including trading capital, of course it must be prepared rather than waiting for urgency.

Granted, it's each person's money, but when times are tough, these people may even blame the country's economy. Such as the weakening exchange rate, expensive transportation, public facilities that have increased their costs, etc. If sensitizing with soft story telling can still be done as sharply as possible, it seems to me that it can be developed, currently I rarely hear advice on saving unless it only offers excess interest in a financial institution, moral messages can also be done by state participation in the form of overcoming the mindset that saving is very doable even if only $ 0.5 / local currency 

As many as there are servant people, the problem of money is only for those people.
Who have their own business are always happy with what they have because they save in it, they think ahead. They will not sell his purchased item at a lower price, so it is obvious that he will sell it for more money than the purchased price, so what is always in business is the benefit. I want to address the people and say that if a person works for himself, then it is best not to work for someone else, because his own business always benefits you at any time.

A big problem with this is that poor people are somehow still making babies at a higher rate, whereas middle income people are giving up on it, knowing that they are not going to end up with anything meaningful to provide for their child. If you look at the growth rate of the population, its slowing down, in some nations its even getting to the point where its starting to go down. In a generation or two, we will have a world population that will start to go down, and that is not bad, but its bad for certain nations who will rapidly lose population while some others do well. How could we have an ysavings when our fathers not only worked to buy a house and a car and gave us good life, when we fail to have any life at all all by ourselves? In any case, this will not be a simple solution without a doubt, but there must be something done about this issue.

In an inflationary environment, fiat savings aren't the best option. Important to diversify. While risky, investing and entrepreneurship give growth that a savings account can't. Enormous potential comes with enormous responsibility. Balance risk and return, be attentive but daring

You're right about people focusing on what's in front of them. Financial foresight matters. Create chances, not just seize them. As you said, wise decision-making is crucial. Still, staying informed and learning is crucial. The economy and finance are always changing. Staying ahead needs judgment and a passion for information. Be cautious, wise, and most importantly, adaptable

When it comes to savings then this is something that you would really be needing to have, in my case on which i do have fiat savings but only for emergency purposes only and not really going all in on saving up through the form of fiat considering that inflation is there. This is why i do make myself wise on making investment and business. Yes, it is really indeed risky but doesnt mean that you could really be able to make yourself having no choice on being progressive when it comes to financial aspect. There are really just those people who cant really be able to think up well in regarding about future on which they would really be rather focusing into the things on what they do have in front and wont really be tending to zoom out to find for another opportunity.

This is why it would really be that best that you should really be focusing into the opportunity on which it would really be giving and you would really be needing to work and be wise
on every decisions that you are making but of course you should be wary about the risks involved as always.

This is only a result of the hyper-inflated toilet paper money, in 70's Someone could buy a property with a 12-month salary but now it has gone up to 240 months which is 200% increase which means the young generation can't build their revenue unless they are doing something exceptional in the previous ear most people can lead decent life only with a salary pay check.

But I don't see any solution to retrieve it back to that old condition and the condition will get worse due to the consumerism culture all over the world and people no longer have the mindset of saving any money and they say they want to live the moment.