Try to save money while you still can, will you ? - page 2.

Fredomago

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Quote from: Uruhara on June 17, 2023, 09:43:59 AM

Quote from: Adams0001 on June 13, 2023, 05:14:36 AM

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Yes, thrifty is not a fun thing. especially if we are used to living extravagant and luxurious. It's just that the awareness to have good preparation for the future will encourage us to be frugal and save more. Because when we have plans and goals, motivation will appear within us and sometimes there is satisfaction in itself when we almost reach our goals. and in the end we will get used to living simply and saving.

Your goal will be a perfect motivation to continue making things to happen, there are people who forget about what can be possibly happen in the future, they are just simply enjoying their present life and forget about saving their fortunes, while there are practical types of people who more on thinking about how life will be when they already old and can no longer do things the same way as they can in the present time.

It's like more on trying to balance and be prepared to how you want to see yourself when time comes and you are already on your retirement age, your set goal will help you saving decently to achieved anything.

Uruhara

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Quote from: Adams0001 on June 13, 2023, 05:14:36 AM

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Yes, thrifty is not a fun thing. especially if we are used to living extravagant and luxurious. It's just that the awareness to have good preparation for the future will encourage us to be frugal and save more. Because when we have plans and goals, motivation will appear within us and sometimes there is satisfaction in itself when we almost reach our goals. and in the end we will get used to living simply and saving.

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Quote from: Adams0001 on June 13, 2023, 05:14:36 AM

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

That's a good analogy, actually. Indeed, both things are hard to do although we know it's better to do it. There's only one difference and I think it's important to keep that in mind that losing weight when overweight is always good for your health, while saving on quality food can be bad for your health, so we have to be careful with that.

CageMabok

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Quote from: Theones on June 12, 2023, 01:40:07 PM

It is a good idea to save as much money as you could. But most of the time people do that when they go through some trouble

Actually, to make savings in terms of using money it would be better to do it when a person has not been hit by any problems in his life, because when a person has been hit by a problem in his life, he definitely won't be so focused and consistent in saving his money. So it will be difficult for him to save money because he did it at the wrong moment, not at the right moment in his life. So make savings at the right moment before problems approach us so that we can be more consistent in saving by not using more time to solve existing problems or what we are facing.

rojan

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Quote from: Litzki1990 on June 13, 2023, 06:37:25 AM

Quote from: Adams0001 on June 13, 2023, 05:14:36 AM

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Humans are born to earn money and spend that money more easily than it costs to earn. And there are some people who earn a huge amount of money but behave like a poor family. Basically they keep their money for future plans. And there are more people who need to borrow their monthly income before the end of the month. We should learn to save money even if we think about the future. Usually eating in restaurants is very expensive so we should refrain from eating in restaurants. Then we have to set some standards on our own clothes, such as not buying clothes at a higher price, but buying clothes at a normal price and wearing them. In this way, if we can move around, then we can save some money from our earned money and save that money for the future.

I agree with you. I think we have to spend as much as we need. Again we have to see that the expenditure does not exceed the income.If we have any bad addictions we need to get rid of them now. And we have to stay away from luxury. If we can live a simple life we can save a lot of money and live well. So we have to stay away from luxurious life thinking about the future and live honestly.

Litzki1990

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Quote from: Adams0001 on June 13, 2023, 05:14:36 AM

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Humans are born to earn money and spend that money more easily than it costs to earn. And there are some people who earn a huge amount of money but behave like a poor family. Basically they keep their money for future plans. And there are more people who need to borrow their monthly income before the end of the month. We should learn to save money even if we think about the future. Usually eating in restaurants is very expensive so we should refrain from eating in restaurants. Then we have to set some standards on our own clothes, such as not buying clothes at a higher price, but buying clothes at a normal price and wearing them. In this way, if we can move around, then we can save some money from our earned money and save that money for the future.

BenCodie

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During these times, there must always be a backup plan. A plan that includes utilizing skills, diversifying, taking advantage of unique opportunities, networking and collaborating with others, and other entrepreneurial skills that with dedication, are easy for anyone to achieve.

Your friend needs to do exactly this. Focus on these attributes, create a plan, make changes and execute. It will be hard in the interim, however the longer that is left without trying, the more time he will suffer for. Or, the more likely he will resign to a much lower paying job and damage the quality of life for not just himself but his family too.

I wish him (and everyone going through a similar scenario) the best of luck in turning things around.

Adams0001

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Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Fredomago

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Quote from: slapper on June 13, 2023, 02:36:58 AM

Quote from: eightdots on June 12, 2023, 08:05:44 AM

Quote from: FireDAOJackie_Z on March 10, 2023, 12:52:58 AM

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

Your pal's in a pickle, and you helping him deserves a round of applause. Now, about inflation - spreading your investments beyond your local bucks is a smart move. It's like not betting on a single horse. Crypto, gold, and stocks could be your shield against inflation.

But, here's a brain tickler - it isn't as simple as just snagging dollars or assets. Market swings are as predictable as a cat on a hot tin roof, and without savvy, you could face big losses.

About your savings? Go for the "stash for a stormy day" method. A slice of your income should be saved regularly for unexpected hurdles. Look into earning while you snooze, side jobs, or skill upgrades. An extra income stream or a hotter skill set can be a game-changer.

Without proper knowledge you will lose your investment, not a simple buy low and sell high market, there's always a right timing and you need to learn more about it to enhance your chance of making decent profits. In terms of savings, yes, portions of your monthly salary would work especially for some cases that you needed emergency fund to cover your expenses.

slapper

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Quote from: eightdots on June 12, 2023, 08:05:44 AM

Quote from: FireDAOJackie_Z on March 10, 2023, 12:52:58 AM

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

Your pal's in a pickle, and you helping him deserves a round of applause. Now, about inflation - spreading your investments beyond your local bucks is a smart move. It's like not betting on a single horse. Crypto, gold, and stocks could be your shield against inflation.

But, here's a brain tickler - it isn't as simple as just snagging dollars or assets. Market swings are as predictable as a cat on a hot tin roof, and without savvy, you could face big losses.

About your savings? Go for the "stash for a stormy day" method. A slice of your income should be saved regularly for unexpected hurdles. Look into earning while you snooze, side jobs, or skill upgrades. An extra income stream or a hotter skill set can be a game-changer.

Uruhara

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Quote from: ajiz138 on June 11, 2023, 10:14:21 AM

Quote from: Uruhara on June 11, 2023, 09:09:12 AM

Quote from: Rupok on June 11, 2023, 01:25:28 AM

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life. Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

That's why it's so important for us to have savings and investments while we still have income. Take advantage of every opportunity that exists so that we don't regret it in the future.

Saving is sometimes quite difficult to get used to. Sometimes we become too relaxed and forget not to save money when our economy is doing well. Even though we have to get used to saving behavior even when our economy is stable. so that we always have a backup plan and a reserve fund resulting from the savings and investments that we have made of every money we set aside from the habit of saving

Only lazy people ignore this opportunity, while people who have dreams will definitely think about the future with their savings and investments as long as they can still earn, especially at a very young age, so that's important and you have to get used to saving for long term needs or when ongoing crisis.

Actually saving is a trivial thing but it's hard for most people to do so they often ignore it, it's no wonder their souls maybe only for a moment when getting a salary from work is only spent for a month with unnecessary needs while saving is to create a reserve fund and it will be enjoyed when we can't work anymore maybe for old age later.

Yeah right. And in essence, we must have a goal or ideals that we want to achieve in order to foster motivation and awareness to try to achieve it more by saving and investing. It's just that saving is a process that requires patience and mature emotional management. because sometimes there are people who can be consistent in saving at the beginning but then start to lose their consistency and start to lose their habit of saving. then it is also important to maintain motivation within us so that we can remain consistent in managing finances including saving and investing in them.

Ebede

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Yes is good to save money because it helps when you are in need, it is very important for people to learn the habit of saving because saving is very important you don't have to spend everything you earn save more than you spend, no person prays for anything bad to happen but a life without savings is risky and dangerous.

Theones

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Quote from: eightdots on June 12, 2023, 08:05:44 AM

Quote from: FireDAOJackie_Z on March 10, 2023, 12:52:58 AM

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

It is a good idea to save as much money as you could. But most of the time people do that when they go through some trouble

eightdots

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Quote from: FireDAOJackie_Z on March 10, 2023, 12:52:58 AM

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

Gulttam2a2

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Yes of course I still save money.That's because we can't tell or predict what will happen to us in the future. Many earn money by doing business, job and more. They mostly spend for family and they save some for future. They save so that they can spend the money on their work. Many families have younger members who are busy at times. But many times it can't be timely because there are many people who don't save due to which they can't meet the requirement of small member. All the people in the world are not same. So I think saving is definitely for better future.

ajiz138

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Quote from: Uruhara on June 11, 2023, 09:09:12 AM

Quote from: Rupok on June 11, 2023, 01:25:28 AM

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life. Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

That's why it's so important for us to have savings and investments while we still have income. Take advantage of every opportunity that exists so that we don't regret it in the future.

Saving is sometimes quite difficult to get used to. Sometimes we become too relaxed and forget not to save money when our economy is doing well. Even though we have to get used to saving behavior even when our economy is stable. so that we always have a backup plan and a reserve fund resulting from the savings and investments that we have made of every money we set aside from the habit of saving

Only lazy people ignore this opportunity, while people who have dreams will definitely think about the future with their savings and investments as long as they can still earn, especially at a very young age, so that's important and you have to get used to saving for long term needs or when ongoing crisis.

Actually saving is a trivial thing but it's hard for most people to do so they often ignore it, it's no wonder their souls maybe only for a moment when getting a salary from work is only spent for a month with unnecessary needs while saving is to create a reserve fund and it will be enjoyed when we can't work anymore maybe for old age later.

m2017

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Quote from: crunck on June 11, 2023, 02:45:01 AM

Quote from: Rupok on June 11, 2023, 01:25:28 AM

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life. Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

Savings are necessary but won't be enough to get you through a period of unemployment because if you don't get a job soon, those savings will quickly be used up. Besides saving, I think any man should have an investment because investing in it can help us increase the amount over time, not standing still like saving. That will help a lot if one day we are unemployed, but investment is risky so be careful in choosing assets to invest.

No matter how significant the savings are, sooner or later it will end. My attitude to monetary savings is positive, but in my opinion, this should not be 100% relied upon, because inflation is merciless to such forms of savings. Otherwise, things are with investment. There is an opportunity to freeze inflation (for example, investing in gold), as well as an opportunity to overtake inflation (stock market or crypto market). But the side effect of all this will be risks. Therefore, I would single out another category - this is an investment in yourself, your knowledge and skills. Left without a job, new skills can allow you to survive a difficult period due to the opportunity to earn money in other directions. It may turn out that the return would even be higher if you were just trying to save this money (spent on obtaining new skills and abilities). So, investing in your own potential would be the smart way out.

Uruhara

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Quote from: Rupok on June 11, 2023, 01:25:28 AM

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life. Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

That's why it's so important for us to have savings and investments while we still have income. Take advantage of every opportunity that exists so that we don't regret it in the future.

Saving is sometimes quite difficult to get used to. Sometimes we become too relaxed and forget not to save money when our economy is doing well. Even though we have to get used to saving behavior even when our economy is stable. so that we always have a backup plan and a reserve fund resulting from the savings and investments that we have made of every money we set aside from the habit of saving

Fredomago

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Quote from: Swordsoffreedom on June 10, 2023, 09:39:58 PM

There are still a lot of people who confuse saving and investing. Many people say that instead of saving in fiat, save in bitcoin, and that is a misconception. Bitcoin is very volatile, and if all our savings were put in bitcoin when bitcoin was worth $69k. And we need those savings for emergencies, and the bitcoin price has halved, meaning we'd have lost half of our savings if we used it immediately. Are we brave enough to use that bitcoin?
Saving is more important than investing, and when it comes to saving, we should think of fiat or a savings account in a bank, not a highly volatile asset like bitcoin.

Exactly, if you put more with your savings and emergency happened the money can freely use without any regrets, the example you provided is reality that we can experienced when we invest with crypto, the volatility can't give us any assurance that we can earn money, it's a matter of how you established your trust with particular asset that you bought and hold.

And same with using spare aside from your save money in your fiat account, spare can be store long time without any hesitations, you can keep it till it reach the target that you want to sell your assets.

crunck

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crunck

Quote from: Rupok on June 11, 2023, 01:25:28 AM

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life. Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

Savings are necessary but won't be enough to get you through a period of unemployment because if you don't get a job soon, those savings will quickly be used up. Besides saving, I think any man should have an investment because investing in it can help us increase the amount over time, not standing still like saving. That will help a lot if one day we are unemployed, but investment is risky so be careful in choosing assets to invest.

Topic: Try to save money while you still can, will you ? - page 2. (Read 2660 times)