Topic: Try to save money while you still can, will you ? - page 3. (Read 2428 times)
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.
If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.
Not everybody knows how to save or even drag their hard earned money to invest in either Bitcoin or real estate like you said. Not that they don't want to but they need a push, like someone to push them to make that big move (although we still have people who does things without being pushed to do it).
I know of someone who used the little money he gets from his hustle to build his own house, not that the money is even enough but he did it 50/50, invest in half of it and use the remaining to take care of himself and his family, now he can smile and enjoy his sweat. Even the old can save talk less of we the younger ones, we have brighter ideas on what to invest on.
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Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.
If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.Yes, I definitely agree. Saving is really important because we do not know what will happen down the road and we might need something for emergency purposes but don't forget that saving and investing is two different words with two different meaning because you probably don't want to touch your investments that is supposed to give you profits for future purposes like emergencies and sudden bills that you did not expected.
Correct you need to understand that there's differences between saving and investing, if you plan to invest and you don't want to use it for emergency make sure that you are using spare for that particular investment, you need to have seperate savings for emergency purpose to make sure that you will not use your invested money, there's chance that if you force to use invested money the value is at loss and you don't have choice but to withdraw so it's always better to have extra for this kind of purposes.
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.
Correct you need to understand that there's differences between saving and investing, if you plan to invest and you don't want to use it for emergency make sure that you are using spare for that particular investment, you need to have seperate savings for emergency purpose to make sure that you will not use your invested money, there's chance that if you force to use invested money the value is at loss and you don't have choice but to withdraw so it's always better to have extra for this kind of purposes.
Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.
If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.Yes, I definitely agree. Saving is really important because we do not know what will happen down the road and we might need something for emergency purposes but don't forget that saving and investing is two different words with two different meaning because you probably don't want to touch your investments that is supposed to give you profits for future purposes like emergencies and sudden bills that you did not expected.
Correct you need to understand that there's differences between saving and investing, if you plan to invest and you don't want to use it for emergency make sure that you are using spare for that particular investment, you need to have seperate savings for emergency purpose to make sure that you will not use your invested money, there's chance that if you force to use invested money the value is at loss and you don't have choice but to withdraw so it's always better to have extra for this kind of purposes.
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 ?
Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.
If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.Yes, I definitely agree. Saving is really important because we do not know what will happen down the road and we might need something for emergency purposes but don't forget that saving and investing is two different words with two different meaning because you probably don't want to touch your investments that is supposed to give you profits for future purposes like emergencies and sudden bills that you did not expected.
Saving money is something that must be done by anyone who wants to change the future for the better, if we don't save then we can be sure the future will be difficult and disappointing, and the best thing right now is saving while investing and we can get this in cryptocurrencies.
Supporting your friend during this difficult time is very important, both emotionally and by providing information and assistance. It's important to save money while you still can, especially given the rising cost of living and the potential for unexpected challenges in life. I understand that your friend recently lost his job, and it can be tough. In such situations, it is important to prioritize immediate financial needs, reduce unnecessary expenses, and seek other alternative sources of income if deemed necessary.
That is correct - if it is not easy to earn more money then the best approach of life is to reduce your expenses as much as you could and try to save as much as you could. But in my opinion its not a good option to help others especially those who are habitual in borrowing money.
The definition of saving is setting aside some money from income for future financial needs, including for emergency needs, converting to assets to focus on annual profits, financial independence, and avoiding debt when we are in a financial crisis due to unexpected events such as the pandemic last year.
The picture above is called the "50/30/20 Strategy", the most ideal financial management strategy that anyone can apply regularly and disciplined from each monthly income, the explanation for the term 50 is to use 50% of monthly income for the utilization of funds for routine needs and expenses, the second term is 30% of income for the allocation of funds to realize your desires (not routine needs) because your hobby is buying collectibles, funds for holidays and etc. The last of the 20 terms is to set aside 20% of your monthly income for future beneficial savings.
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The picture above is called the "50/30/20 Strategy", the most ideal financial management strategy that anyone can apply regularly and disciplined from each monthly income, the explanation for the term 50 is to use 50% of monthly income for the utilization of funds for routine needs and expenses, the second term is 30% of income for the allocation of funds to realize your desires (not routine needs) because your hobby is buying collectibles, funds for holidays and etc. The last of the 20 terms is to set aside 20% of your monthly income for future beneficial savings.
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I'm sure, saving 20% of your income is a good strategy when you have all your needs met with the remaining 80%. I mean shopping, dining out, and even hobbies are presented in the picture in the Wants section. What else do you need? Of course it's better to be saving money for the future than spending it on the things you don't need. But we should not forget that many people in the world don't have money for dining out and hobbies, let alone saving beyond those expenses.
Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.
If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.some people would save as much money but they would be ruining the finances of other people for their own pleasure.
Supporting your friend during this difficult time is very important, both emotionally and by providing information and assistance. It's important to save money while you still can, especially given the rising cost of living and the potential for unexpected challenges in life. I understand that your friend recently lost his job, and it can be tough. In such situations, it is important to prioritize immediate financial needs, reduce unnecessary expenses, and seek other alternative sources of income if deemed necessary.
That is correct - if it is not easy to earn more money then the best approach of life is to reduce your expenses as much as you could and try to save as much as you could. But in my opinion its not a good option to help others especially those who are habitual in borrowing money.
Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.
If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.
Prioritizing our necessities and living within our means is crucial when it comes to saving money effectively. The issue is not the size of the income, but the ability to spend a portion of it consistently. Building the habit of saving, no matter the amount, is the most important thing. People with higher incomes can sometimes fall into the lifestyle inflation trap, where their expenses increase proportionally to their income, leaving little room for savings. This can hinder their ability to secure their financial future. On the other hand, low-income individuals who prioritize saving and living within their means can still make significant progress toward their financial goals. By making conscious spending choices and consistently saving a portion of our income, we can ensure financial stability and work towards our long-term goals.
Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.
If it's about taking care of health then I think it's definitely more important. because health is the most important factor that a person must have and must be prioritized over financial. Because even though we can save money and have a lot of money for the future, if we are not good at maintaining our health, we cannot enjoy the money we collect in peace and joy. because maybe we will only fight to get healed.So the thing that should be prioritized is health. because health is the biggest investment and what we need most in our lives far beyond money and only then manage finances such as savings so that we can save and invest for the future. it would be better if we can still save money while keeping our health maintained. so that in old age you can still have a healthy body and strong finances.
Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.
Inflation have hit hard around the world. Everything have increased in the price, but the income haven't got raised. The ongoing war have caused severe need of oil and gas. When the demand for oil and gas increases, it directly reflects on the daily needs price increase. We don't know what happens next minute. We need to have a mindset to prepare for the worst, only then we can stay effective with our plans and increase savings lowering the unwanted expenses.
In addition to increasing savings, we need to find other incomes by working overtime, investing...Because if we focus only on saving, it will not solve problems like daily rising commodity prices and worsening inflation. Saving is a good thing to do, but it does not mean that excessive saving affects health. As we all know, health is the primary basis for creating money, so don't be too frugal but think about your health. Be saving with life's useless things, and don't be frugal with your health.
and it's true to increase your savings so save money by refraining from buying something you want but buying something you need. Save money without risking your health.
Doing business and investing is one way to increase your income.
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 ?
Sorry to hear about what happened to your friend. A lot of people experiencing now the impact of inflation all over the world. There are people who had been retrenched to their jobs and could not even support their financial needs. That is good to know that you are helping your friend when it comes to his finances. If i were in your shoes i will help also if i have a lot of excess funds. I will encourage him to find other job so that they can survive from the time being. That is right thing to do to save more money in preparation for unexpected challenges in life because we never know when will be that challenges will occur. It is better to save for the future for us not to suffer or experience unexpected challenges.
Yes I am saving my money and I am not buying a lot of things. If I am going to buy something it is for survival like my food and only things I need.
For me, personal luxuries are not so important. I enjoy nice things but not as much as being part of such a huge technological revolution like Bitcoin. If I spend any extra money I have it is on Bitcoin.
It is nice of you to be helping your friend when he lost his job. And to prepare for the next challenges in your life is a difficult thing to also do.
For me, personal luxuries are not so important. I enjoy nice things but not as much as being part of such a huge technological revolution like Bitcoin. If I spend any extra money I have it is on Bitcoin.
It is nice of you to be helping your friend when he lost his job. And to prepare for the next challenges in your life is a difficult thing to also do.
It's still very important to have what are called emergency funds, that's why others even though they know this method is good, they still can't do it. Maybe because they don't know how to do the so-called financial management, or others can't make a decision right away because of the expenses they face in life.
They were too busy to make a move on something like this. Even I can't do it right away with the amount of expenses and bills in life, even if I can do it little by little, not all of a sudden, I can save a lot instead of just a small amount.
They were too busy to make a move on something like this. Even I can't do it right away with the amount of expenses and bills in life, even if I can do it little by little, not all of a sudden, I can save a lot instead of just a small amount.
Just like you have said , majority knows the importance of emergency fund but find it difficult to go with it because of their little month earnings. How can someone who has already borrowed money up to half of his salary think of emergency fund when he has such debt to pay.
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