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Topic: Try to save money while you still can, will you ? - page 5. (Read 2615 times)

full member
Activity: 1204
Merit: 110
That is the consequence that when we don't have savings, we inevitably have to do anything,
as long as there is a desire and keep trying I think it will have results later,
besides that it is also necessary to learn to be innovative and creative in opening a business.

Apart from having to be innovative and creative in opening a business, another thing that the business owner still needs to see is the opportunity through a strategic environment so that sales in the business can increase sharply. Because the business owner needs to see what sells best in the environment so he can provide it when a customer orders from him.

This means that business owners need to make their place of business as comfortable as possible with the appearance that is as innovative as possible and also the best possible service to all customers so that they are always interested in coming to our place. This is a very wise strategy in developing a business because in addition to being creative in attracting customers, business owners must also be able to provide more attractive and satisfying services to their customers.
owner needs to keep an eye on all aspect of business to gain benifit.
Financial literacy is one big aspect for sure
hero member
Activity: 2730
Merit: 632
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 ?
It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.
Risks exist in investment, if one takes the risk then an opportunity will be created. If some one is not willing to take any risk then he can save money through monthly savings. But inflation is rising, saving fiat money is one kind of loss. If a small portion of the income is invested in Bitcoin every month, it can bring a good amount of profit. But it will totally depend on what a person wants to do. Personally I am enthusiastic about investing in Bitcoin with my little amount of savings.


Investing in bitcoin is a risky investment because of its extreme volatility. If someone is not willing to take risks to get big rewards, it is possible to invest in gold, it is very safe and can help us avoid inflation because of its stability. I think we should stay away from fiat, and not save all our money in fiat because the value will be lost very quickly and terribly. I also prefer bitcoin to gold because of its benefits, but always be diverse because nothing is certain about the future of bitcoin.
Whether you would be investing into stocks or real estates, it wouldn't still guarantee you on making profits or 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 someones preference and opportunity on doing so.
There are ones who do mind on having savings and there are ones who are really that wont be able to do so because of lots of expenses and priorities in life. Even myself does have that kind of struggle when it comes to savings on which it would really be just that normal that you would prioritize over things which it would really be that hard for you to set aside or extra out of your income specially if you are
really just that earning sufficient then you wouldn't really be having that kind of opportunity on saving up some spare for future purposes but as much as i can, im really that doing my best because there are
moments in life on which it would really be that hard for you to face up some emergencies and you dont have money.
sr. member
Activity: 832
Merit: 286
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Investing in bitcoin is a risky investment because of its extreme volatility. If someone is not willing to take risks to get big rewards, it is possible to invest in gold, it is very safe and can help us avoid inflation because of its stability. I think we should stay away from fiat, and not save all our money in fiat because the value will be lost very quickly and terribly. I also prefer bitcoin to gold because of its benefits, but always be diverse because nothing is certain about the future of bitcoin.
We have a high probability of investing in bitcoin during the current bear market conditions, I hope the target price of 20k-22k will come soon to increase my portfolio assets, so investing is not a bad choice in terms of volatility if you are patient to buy BTC at low prices and you can share some funds for gold investment due to passive profits in the annual term.

Do an analysis to buy bitcoin using the DCA strategy because the price of bitcoin is unpredictable, so make sure you always save the investment funds to buy bitcoin gradually and focus on buying at low prices.
sr. member
Activity: 1400
Merit: 283
DGbet.fun - Crypto Sportsbook
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 ?
It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.
Risks exist in investment, if one takes the risk then an opportunity will be created. If some one is not willing to take any risk then he can save money through monthly savings. But inflation is rising, saving fiat money is one kind of loss. If a small portion of the income is invested in Bitcoin every month, it can bring a good amount of profit. But it will totally depend on what a person wants to do. Personally I am enthusiastic about investing in Bitcoin with my little amount of savings.


Investing in bitcoin is a risky investment because of its extreme volatility. If someone is not willing to take risks to get big rewards, it is possible to invest in gold, it is very safe and can help us avoid inflation because of its stability. I think we should stay away from fiat, and not save all our money in fiat because the value will be lost very quickly and terribly. I also prefer bitcoin to gold because of its benefits, but always be diverse because nothing is certain about the future of bitcoin.
hero member
Activity: 630
Merit: 611
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.
Having early preparations is a step that must be taken to make us always ready for what will happen in the future. Having a reserve fund and continuing to save money by not spending too much money on things that we don't really need will definitely be very helpful in our efforts to save more money. But saving in fiat is certainly better for us to avoid because inflation will continue every year and make the value of our currency continue to decline. so that the purchasing power of the money automatically decreases. Saving in gold I think is the most suitable idea. or investing our savings is also something we can do. at least we should be able to increase the amount and value of the assets we keep.
hero member
Activity: 2954
Merit: 672
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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 ?
It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.
Risks exist in investment, if one takes the risk then an opportunity will be created. If some one is not willing to take any risk then he can save money through monthly savings. But inflation is rising, saving fiat money is one kind of loss. If a small portion of the income is invested in Bitcoin every month, it can bring a good amount of profit. But it will totally depend on what a person wants to do. Personally I am enthusiastic about investing in Bitcoin with my little amount of savings.


Investing and saving at the same time might be tough especially if you're in a difficult situation but that is very advisable as we don't know what will be the upcoming challenges that we will face in the future. For the friend of OP's situation, he surely have enough time to invest, diversify and save for whatever is in the future as he was in the job for more than 1 decade but unfortunately, he haven't gave any thought about it as he was blinded by the situation where he always met every ends need and forgot that any job is just a temporary one, so we need to have some opening to make an income on the sidelines.
sr. member
Activity: 686
Merit: 332

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.

A lot o people who work do not believe in the idea of investing. They believe they can just save for the rainy day or save for retirement.
With the rate at which inflation is increasing, it is really not advisable to just save. I know everybody needs savings, but a part of that savings we're making should be used for investments.
Investment is risky, it is simpler to just save the money, but if we always go for the simpler options we will never get what want.
Investing can never be overestimated. Without investment we can never attain financial freedom. No matter how much you make frome the job you do, you need to invest in other for you to grow. 
sr. member
Activity: 938
Merit: 292
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 ?
It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.
Risks exist in investment, if one takes the risk then an opportunity will be created. If some one is not willing to take any risk then he can save money through monthly savings. But inflation is rising, saving fiat money is one kind of loss. If a small portion of the income is invested in Bitcoin every month, it can bring a good amount of profit. But it will totally depend on what a person wants to do. Personally I am enthusiastic about investing in Bitcoin with my little amount of savings.
hero member
Activity: 2338
Merit: 737
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.

I also agree more on the point of saving for things that are not useful in life, but not for health problems because the evidence is very clear that those who are sick must lie in bed hoping that health can come to them soon so they can go back to work to make money like usually. And actually saving is also an effort to save money even though everyone doesn't have to be satisfied with that alone, because everyone still needs to find other income so that they can save more.

And also must have the courage within himself to open a business or investment in order to be able to face the difficulties caused by global inflation and recession. Because everyone will be better off if they want to depend on income through their work, not on their savings because savings are money that will be used when someone needs money quickly in life.
hero member
Activity: 2268
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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.
sr. member
Activity: 1400
Merit: 283
DGbet.fun - Crypto Sportsbook
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 ?
It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.
legendary
Activity: 2646
Merit: 1106
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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.
full member
Activity: 1204
Merit: 110
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.

reference : https://www.thebalancemoney.com/the-50-30-20-rule-of-thumb-453922

I have a small income, and even I have to meet many of my family's basic needs, but even so, I always make time to save even a little each month.
I'm sure it will be useful for the future.
I like your motivation to always be routine and disciplined in saving even though allocating savings from small income, you are part of the above strategy because you have managed good finances for future financial planning, you must limit spending funds that do not include major needs and better increase allocations savings of more than 20-30% of your income.
Saving money allows you to enjoy greater security in your life. If you have cash set aside for emergencies, you have a fallback should something unexpected happen then this emergency fund will be very helpful.
hero member
Activity: 2282
Merit: 589
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.

reference : https://www.thebalancemoney.com/the-50-30-20-rule-of-thumb-453922

I have a small income, and even I have to meet many of my family's basic needs, but even so, I always make time to save even a little each month.
I'm sure it will be useful for the future.
I like your motivation to always be routine and disciplined in saving even though allocating savings from small income, you are part of the above strategy because you have managed good finances for future financial planning, you must limit spending funds that do not include major needs and better increase allocations savings of more than 20-30% of your income.
sr. member
Activity: 1400
Merit: 420
DGbet.fun - Crypto Sportsbook
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 ?
It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life
full member
Activity: 1204
Merit: 110
I did that, I'm sure the income is not always the same every day even if we are businessmen or traders. because of that I learned to try to save less with expenses by not buying things according to prestige, I only buy necessities according to what I need, unless I have a lot of money, I will still save it for sure it will be useful in the future.
you are right. we know that the income we get today will not last forever. besides, people also raise their business for their old age. Saving money now will have a very good impact in the future. we also don't know when we really need money, therefore instead of borrowing, we can use our savings. other benefits, we can enjoy the savings when we are old or retired. people sometimes use their savings to travel the world or buy their dream things.
One should not be a miser and keep a good balance of everything. This includes keeping the standard of a person in the present time and having an emergency funds. This will help you having a good balance of life !
sr. member
Activity: 2366
Merit: 448
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I did that, I'm sure the income is not always the same every day even if we are businessmen or traders. because of that I learned to try to save less with expenses by not buying things according to prestige, I only buy necessities according to what I need, unless I have a lot of money, I will still save it for sure it will be useful in the future.
you are right. we know that the income we get today will not last forever. besides, people also raise their business for their old age. Saving money now will have a very good impact in the future. we also don't know when we really need money, therefore instead of borrowing, we can use our savings. other benefits, we can enjoy the savings when we are old or retired. people sometimes use their savings to travel the world or buy their dream things.
The business world or traders are those whose income is not fixed and not fixed, and this must really be able to manage it, especially the needs that are urgently needed, namely daily needs that are in accordance with their income. And also capital to do business again and also to save, because saving is the most important thing, because it is used as a reserve fund when we really need it. And savings will also continue to grow if done regularly and disciplined, apart from being a reserve fund, savings can also guarantee old age.
and savings can also help when business or trade is not profitable because savings can be used to meet needs and use them sparingly. And at this time, don't follow ego or prestige because the most important thing is that our life is not difficult, nor does it make other people difficult.
legendary
Activity: 2758
Merit: 1004
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I did that, I'm sure the income is not always the same every day even if we are businessmen or traders. because of that I learned to try to save less with expenses by not buying things according to prestige, I only buy necessities according to what I need, unless I have a lot of money, I will still save it for sure it will be useful in the future.
you are right. we know that the income we get today will not last forever. besides, people also raise their business for their old age. Saving money now will have a very good impact in the future. we also don't know when we really need money, therefore instead of borrowing, we can use our savings. other benefits, we can enjoy the savings when we are old or retired. people sometimes use their savings to travel the world or buy their dream things.
hero member
Activity: 2366
Merit: 594
Saving money is an important thing that we must make a top priority in life, if we don't save it will get a lot of difficulties, saving is of course according to ability, but if we have a small income then the first thing to do is take it for saving and the rest is for needs, if we don't do that then until we are old we won't be able to save.
I'll put the main needs first, then we can save the rest. Agree with you that saving should be according to our ability, so that we don't neglect our main needs so that we can save. The amount is not the problem here, the most important thing is that we can set aside money from our income for us to save, it doesn't matter whether it's a small or large amount, the important thing is that we can do it consistently. Many people who have a large income but they can't do anything for the future due to their luxurious lifestyle, which makes them unable to save their money.
Now this luxurious living habit usually makes it difficult for people to set aside money for savings. So to be able to save, of course, we have to start from improving our life habits to become simpler. Buying only the things we really need. and avoid unnecessary purchases. Prioritize primary needs and try to set aside our money even if only a little. and as you said the key is that we have to be consistent in doing it.

They got affected mostly by social media, which is why they will spend more on their wants, like if they just see a newly opened restaurant with a lot of people going there, even if it is not necessary, they will go to it, or buy a new phone even if their old one is still working. If people can't control this kind of urge, then for sure they can save for the future, as they are prioritizing their short-term comfort or happiness.
I also cannot deny the temptations that always pass by on social media and on some of the application platforms that we use. I can't even set an example for others. But I personally experienced it. but I'm not tempted because of an advertisement on social media. but because I installed a shopping application that offers quite tempting offers. starting with free shipping and 50% off for new users. this has made me tempted and buy one of the things that I really don't really need at this time. but I was tempted and bought it anyway because I thought a lot about not wasting the new user voucher I got. And it looks like the item will come in handy one day. But still, the steps I took have made my financial planning a little off the mark from what I had planned before. and I'm a little bit sorry now. and maybe I get a lesson from this not to be tempted anymore by a promotion or anything from every new application that I install. but I think I'm not the only one who's been tempted by some sort of new user voucher promotion from a shopping app  Grin

Even myself, but it was way back before that I've seen things like phones on sale or any accessories on sale. I am always present on this pay day sale, and we know that we can buy it cheaply, so we should buy it rather than buying it without on sale. But later on, when I noticed that I was spending too much on it and getting short, I uninstalled all of my applications. Right now, I can still see them and am sometimes tempted, but I always ask myself if I really need them or not so that I am not wasting money on them.
sr. member
Activity: 1638
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I did that, I'm sure the income is not always the same every day even if we are businessmen or traders. because of that I learned to try to save less with expenses by not buying things according to prestige, I only buy necessities according to what I need, unless I have a lot of money, I will still save it for sure it will be useful in the future.
whatever income we have, saving is something that must be done, it is very true that we should not spend excess items and put aside saving, especially for entrepreneurs or traders, in the future many unexpected things will happen and if there is no savings then it is possible for the occurrence of financial chaos in trade or business.
I have a small income, and even I have to meet many of my family's basic needs, but even so, I always make time to save even a little each month.
I'm sure it will be useful for the future.
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