Topic: Try to save money while you still can, will you ? - page 4. (Read 2660 times)

Correct. Saving money in certain investments can indeed be expected to be much more effective in building a better future. Even if we find an investment target that can make us earn passive income, of course it will be even better. It's just not easy to build an investment that can bring in passive income in the future. but we really have to start from now and should not delay it for a later time. Especially if we currently have sufficient sources of income, we must make good use of them.

We need to move as quick as possible in terms of minimizing our expenses and move those save money into something that can prosper us in a passive way, not just to save but also a good mindset in finding what kind of investment or business that we can start to use those save money for a better potential benefits.

Though focusing on how you can save and how you can continually work with saving your weekly or monthly expenses will help you
to achieve your goals in terms of financial stability.

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.

Indeed, we should be able to get used to living simply and start saving so that we can save our finances and set them aside for saving and investing in part. We must have long-term planning and make the most of everything we can do right now. Have a reserve fund, future savings and long term investment. all of that is needed to build preparations so that we can face the economic crisis that might come again. Currently the economic crisis has actually begun to subside in several countries. even the rate of inflation has decreased quite nicely. It's just that we can't be careless with this situation and instead we have to take advantage of it to make preparations for the next storm.

The world is suffering from an unprecedented economic crisis due to the war between Ukraine and Russia. The price of every essential item has gone up manifold.
 We need to reduce unnecessary spending and increase savings. As we can learn that brother said his friend suddenly lost his job. He never thought such a time would come in his life. So we always have to save something for any change in our life. So that those savings are useful for us in the day of our danger. So we all should do some saving while we have time.

learn to buy anything as needed not from what we want just to fulfill prestige. the money we use to fulfill our prestige is usually only to buy goods that in the future will have a low value to re-sell. learn to live much simpler even when we become rich people, there are many people we can help compared to having to buy something just to satisfy our prestige. saving if we are already rich is also not good, because the money we save will continue to inflate, if the problem is saving, it's better to invest in gold only.

And in the improvements that are being made by each country and the central bank, such as by raising interest rates and hoping to withdraw little by little the excess that has already spread to the public. So. In fact, this step has now proven to be quite effective. although it turns out that this has also triggered another enemy in a country's economy that is just as important to avoid, namely a recession. and the solution that the Central Bank and countries experiencing a recession have, of course, is to reduce the interest rate that they originally raised again. And hope to get people to withdraw their money again and start spending quite actively.

But right now what I've noticed is that people's awareness of saving money and making preparations for the long term and for reserve funds has increased tremendously. So that saving and investing now seems to have become a common and important conversation that is currently becoming a hot conversation in the community.

Public awareness in investing has also grown quite rapidly. I'm afraid they have a high interest in investing but they lack knowledge of where to invest safely for them. Crypto, especially bitcoin, is actually quite safe, even though it also carries a high risk due to its high volatility. It's just that if it's for the long term then at least inflation can't do much to touch Bitcoin. It's just that to invest in bitcoin, beginners also have to know and study it first before finally deciding.

Inflation is not only a problem in each country; it is also a problem for the whole world. So reducing everyday expenses and adopting a savings mindset can really help save money and lay the foundation for future investments. Teaching your friend about financial management, budgeting, and cost-cutting strategies is a great step. As your friends get used to these habits, they can explore a variety of investment opportunities by starting to save a significant portion of their income in advance. It's important to prioritize needs over wants and make conscious spending decisions. And encourage your friend to stay motivated, patient, and focused on their long-term financial goals.

Not many people can think about the future and prepare for it, I mean they think about it but in their actions they don't take any action, like saving or investing for example. If we follow our ambitions, then we will never be able to save or invest, because we will always be tempted to buy something that is not important, or in other words, we will become wasteful people. Saving or investing requires enormous sacrifices, because it will reduce the level of our purchases of whatever it is. Never think only for today, but we must also prepare for the future. and the future itself is not only for us, but for our descendants as well.

Many people say that we should not save and should only invest because the current inflation will eat away at our savings.  but I still think it's a good idea to have some savings before thinking about investing.  Because an investment has no guarantee that it will always be profitable and risk-free. What happens when our investment fails, and we need money urgently without any savings? for me, I will accumulate a savings first and only invest after my savings are complete.

that's right, we don't know what will happen in the future and to avoid things we don't want, therefore we must have savings.
I don't have a lot of income, but no matter how small, I always make time to save because I believe it will be of use to me in the future.
in terms of helping others and even fulfilling one's own desires in my opinion there must be a limit, we must be able to manage between what is very important and also important in managing finances and we also have to place saving in the most important thing so regardless of the amount we will make savings.

In addition to saving now, investing is a very important thing for us to do in order to face difficult times for us to face in the future, some people do not consider investing they only rely on their savings even though investing is a more important savings and can be an increase in value when the price increases, as you say give guidance, Support is something that is urgently needed in order to reduce the impact of inflation but some people still ignore the problem.

if u invest in share market and real-estate is not given profit and gave security  would having that positive outcome because everything is unpredictable. There are lots of factors which would affect out profitability on whatever investments you would really be dealing into. Speaking about savings then it would really be basing up on someone's preference and opportunity on doing so. 

Providing guidance, support, and resources regarding money management and investing can be extremely valuable. You can consider investing, besides saving, as a good approach to potentially increasing their wealth and mitigating the effects of inflation over time. But it's still risky if you really don't understand it. You need to be smart and have the right savings policies to increase your potential for long-term financial stability and growth. These are helpful resources that can help you make informed decisions about your financial future.

But I don't think your hopes will ever come true because it's still very possible bitcoin won't drop that low ahead of the halving. I agree there is potential for a downside of between $22k - $23k before the end of the year, but given that there is good resistance to boosting demand then prices are likely to head higher.

Even during SEC FUD against Binance, bitcoin price was still able to recover after yesterday's dump. Today bitcoin price has again broken through $27.2k in the last 1 hour so don't get your hopes up $20k coming that fast and you should consider buying with DCA for the average low.

Well, you've struck a chord! Inflation's become an uninvited squatter in our global financial backyard, with price tags doing the cha-cha and wages doing the limbo. This suffocating squeeze is being jazzed up by geopolitical tiffs and the 'musical chairs' situation of our supply chains - especially for VIPs like oil and gas. As a tech junkie with a knack for number-crunching, Bitcoin and its crypto-buddies seem like a light at the end of this tunnel.

Ponder this - these digital darlings aren't puppeteered by Uncle Sam or any of his global counterparts, making them potentially immune to the flu of inflation. Caveat - crypto is a wild roller-coaster ride with plenty of loops, so buckle up! But remember, a rainbow of investments may be the way forward, and crypto is one color in that spectrum.

Covid-crashed economies, money printers on overdrive, more moolah chasing fewer goodies - welcome to the Inflation Olympics! As we nurse economies back to health, brainstorming savvy strategies to kick this inflation menace in the pants is key, perhaps with a pinch of tight-fisted monetary policies and a dollop of tech wizardry.

Investing in bitcoin for the long term can indeed be expected to bring quite a lot of profit. But in the short term it is not good enough because high volatility can make someone who is not familiar with the crypto market mentally depressed. because investing in bitcoin does require patience and the way to accumulate it is indeed better by not being in a hurry and using the DCA method which is the most recommended.

But talking about saving or saving our assets so that their value is maintained, saving in gold is the right choice. and especially if it is for the long term. Because gold is an asset that is resistant to inflation.

He was able to stay in one job for a decade, being able to stay in the same company for a long time showed he was well paid. After he lost his job his life immediately changed, this shows he has no savings after working for so long. I don't want to blame your friend for the problem he is currently facing, but he has forgotten one thing in his life, namely saving part of his salary.

No one can predict the cycle of life, that's why savings are really needed as an alternative that can lighten your burden when you lose your job. Other people are only able to help as much as they can, the rest they can only provide moral support for your survival.

Pandemics, wars, excessive currency printing and many other things can make the economic crisis worse and continue to occur in a sustainable manner. Surges in the prices of basic necessities, scarcity of gas and oil or other energy resources are also other triggers that usually occur as a result of the impact of a conflict or war between countries. as happened in Russia vs Ukraine. And maybe people also forget that the scarcity of fuel oil and so on is not only caused by war but because there is a policy by a country that imposes economic sanctions on a country. or also because of the failure to establish cooperation between one country and another or something like that.

When all that happened, it was not easy for anyone to avoid the economic crisis. but regarding inflation actually all of that is more about the post-pandemic impact. like because a country prints currency to avoid a recession that occurs during a pandemic due to people being restricted in their activities due to quarantine to avoid spreading the virus. So people started to lose their livelihood which made it difficult for them to make money. so that the government distributes financial assistance to the public to spend. this is done so that the economic cycle continues and does not experience a stalemate that can lead to a recession.

However, after the pandemic was over, it turned out that there was too much money circulating in the community and caused the value of the currency itself to decline and inflation occurred because prices were also driven up due to various reasons. either because of higher demand from consumers and limited production stocks that can be sold by producers. because we know when a pandemic occurred many factories stopped operating. so do not be surprised if when the pandemic is over, the needs of people who have returned to increase are difficult to fulfill because not all of the factories that were closed have reopened.

the problem with waiting game like the price of bitcoin went to 22k and you will purchase that is that you will be left out I mean that if that never happened what will you do ? That is why others take an analysis before concluding on where to buy because there are times that the bitcoin start pumping and you dont know where to buy that is why others also of they can afford to buy now then they will buy as they are also looking for holding it for long period of time