Try to save money while you still can, will you ? - page 9.

glendall

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Quote from: Kelward on May 07, 2023, 09:24:33 AM

Saving money should be a necessity for anyone because of eventualities like accident, lose of job, old age, children education, the list is endless. Every body loves to save but problems arises when your income can not even take care of your miscellaneous expenses. What do you do? You must find a side business or investment, by all means. Otherwise depending on one source of income becomes a risk. Because what ever happens to that business is one way ticket to poverty.

This is why every body must became innovative and think outside their comfort zone.

but sometimes people fall asleep in their comfort zone and they will realize where are all gone or finished.

saving is a real need, but sometimes lifestyle makes people become consumptive, not thinking ahead for a better life, what in their minds is that they have to update in every session of life

xSkylarx

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Quote from: monineklutak on May 09, 2023, 04:00:02 AM

Quote from: jossiel on May 08, 2023, 06:43:08 PM

Quote from: carlfebz2 on May 08, 2023, 06:35:09 PM

Quote from: jossiel on May 08, 2023, 04:51:52 PM

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

Do not let yourself be controlled by excessive lust because it only harms yourself,
I think we have to realize how important it is to save expenses and start setting aside to save,
Obviously avoid impulse shopping.

People will only notice this when they already need the money. I can relate to this before when I still don't have family. I always buy my wants and don't think about how I'll survive for a week just because it's your payday, but again, you'll learn hard from it because you'll go through something that will make you realize that you shouldn't buy those things as they can't help you; it is just a temporary happiness.

jossiel

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Quote from: monineklutak on May 09, 2023, 04:00:02 AM

Quote from: jossiel on May 08, 2023, 06:43:08 PM

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

Do not let yourself be controlled by excessive lust because it only harms yourself,
I think we have to realize how important it is to save expenses and start setting aside to save,
Obviously avoid impulse shopping.

Those that still don't realize that they're impulsive buyers of nonsense and things that they don't need will soon have to sell those in their times they need cash.

When the time has come and things are too difficult for a person that likes to do these unstoppable shopping spree for the things that they don't need.

That's the right time they'll start to be savvy and give importance to every penny they earn.

monineklutak

sr. member

Activity: 1890

Merit: 252

Quote from: jossiel on May 08, 2023, 06:43:08 PM

Quote from: carlfebz2 on May 08, 2023, 06:35:09 PM

Quote from: jossiel on May 08, 2023, 04:51:52 PM

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

Do not let yourself be controlled by excessive lust because it only harms yourself,
I think we have to realize how important it is to save expenses and start setting aside to save,
Obviously avoid impulse shopping.

Yanalli

newbie

Activity: 12

Merit: 0

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 ?

life will become more expensive even more, the main thing is to get together and try to find a job, even if your friend has no experience in it. It is better to always postpone some part of your earnings, force majeure always happens. Moreover, nowadays it is very difficult to plan and think ahead, so you need to try to work and postpone.

jossiel

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Quote from: carlfebz2 on May 08, 2023, 06:35:09 PM

Quote from: jossiel on May 08, 2023, 04:51:52 PM

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

carlfebz2

hero member

Activity: 2926

Merit: 722

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Quote from: jossiel on May 08, 2023, 04:51:52 PM

Quote from: DevilSlayer on May 07, 2023, 08:51:20 AM

Quote from: jossiel on May 07, 2023, 08:31:22 AM

Quote from: Andrija Branislav on May 02, 2023, 10:16:56 AM

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

When I've asked financial advisors, they're always telling the same thing and that's to have an EF, yes emergency funds. And it's like having a 3-6 months of EF based from your monthly salary.

If one can have that and directs into investments, that's still a good strategy. IMHO, whatever works for your perfectly, you need to be consistent with that.

And if you're able to build your investments then it's time to have the EF focused until you match what's the recommended amount.

Emergency funds are important because you can never know what will happen so better if you have funds that you can use if you experience unexpected situations wherein, you need money for you able to overcome it. Majority of the normal persons, do not have it because they do not really know its real purpose and that is the reason why they are struggling especially when they face emergency situations. For me it is important and consider as necessity especially if you will also make an investment in crypto market.

You need it as a safety net that you can use if you experience huge setback or incur losses but make sure that your priority is a lot more towards investing and not savings. As for me, better to save your 15% of your monthly income, put the 45% of your income to investment and lastly put the 40% to your basic needs and necessity.

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

LastKiss

sr. member

Activity: 2184

Merit: 251

SOL.BIOKRIPT.COM

Quote from: ItsCrafty on May 07, 2023, 11:14:43 AM

Actually in every country there is inflation on its peak may be its due to huge population with minimum resources and may be its due to the lack of job. One can easily survive with minimum cost under harsh situations if he overcome his expenses and reduces using of that things which are more expense so in such way a person can save some amount of money from his salary.

We can talk about investment but we have to teach them about how to minimize daily expenses and how to save money and then how to invest this saved amount and in which coin. May be its take some time but surely one can do it if he is interested in doing so.

I agree minimizing our daily expenses is really helpful especially when inflation is coming, since many people are really wasteful there because they're spending for what they don't need, all is that for getting attention from other people like their friends, BF/GF, etc. In this big inflation, I tried to minimize my daily expenses and it really worked because I don't need to look for a loan or another job to survive. Being grateful for what we already have is needed if we want to minimize our daily expenses.

jossiel

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Activity: 3150

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Quote from: DevilSlayer on May 07, 2023, 08:51:20 AM

Quote from: jossiel on May 07, 2023, 08:31:22 AM

Quote from: Andrija Branislav on May 02, 2023, 10:16:56 AM

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

When I've asked financial advisors, they're always telling the same thing and that's to have an EF, yes emergency funds. And it's like having a 3-6 months of EF based from your monthly salary.

If one can have that and directs into investments, that's still a good strategy. IMHO, whatever works for your perfectly, you need to be consistent with that.

And if you're able to build your investments then it's time to have the EF focused until you match what's the recommended amount.

Emergency funds are important because you can never know what will happen so better if you have funds that you can use if you experience unexpected situations wherein, you need money for you able to overcome it. Majority of the normal persons, do not have it because they do not really know its real purpose and that is the reason why they are struggling especially when they face emergency situations. For me it is important and consider as necessity especially if you will also make an investment in crypto market.

You need it as a safety net that you can use if you experience huge setback or incur losses but make sure that your priority is a lot more towards investing and not savings. As for me, better to save your 15% of your monthly income, put the 45% of your income to investment and lastly put the 40% to your basic needs and necessity.

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

ItsCrafty

full member

Activity: 826

Merit: 135

Tontogether | Save Smart & Win Big

Actually in every country there is inflation on its peak may be its due to huge population with minimum resources and may be its due to the lack of job. One can easily survive with minimum cost under harsh situations if he overcome his expenses and reduces using of that things which are more expense so in such way a person can save some amount of money from his salary.

We can talk about investment but we have to teach them about how to minimize daily expenses and how to save money and then how to invest this saved amount and in which coin. May be its take some time but surely one can do it if he is interested in doing so.

Cling18

full member

Activity: 1708

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Because we can't predict what the future may hold, we must prepare by understanding the true worth and significance of saving in order to avoid hardships if unforeseen events were to recur in the future. We should draw lessons from the last pandemic, in which the majority of us lost our jobs and had no one on which to rely. Since we have no idea how saving might be able to save us, we should practice self-control, resist the impulse to acquire unnecessary items, and instead put our attention on planning for the future. We must approach saving as though it were already a component of our long-term financial strategy.

Kelward

sr. member

Activity: 588

Merit: 338

Saving money should be a necessity for anyone because of eventualities like accident, lose of job, old age, children education, the list is endless. Every body loves to save but problems arises when your income can not even take care of your miscellaneous expenses. What do you do? You must find a side business or investment, by all means. Otherwise depending on one source of income becomes a risk. Because what ever happens to that business is one way ticket to poverty.

This is why every body must became innovative and think outside their comfort zone.

DevilSlayer

sr. member

Activity: 1470

Merit: 359

Quote from: jossiel on May 07, 2023, 08:31:22 AM

Quote from: Andrija Branislav on May 02, 2023, 10:16:56 AM

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

When I've asked financial advisors, they're always telling the same thing and that's to have an EF, yes emergency funds. And it's like having a 3-6 months of EF based from your monthly salary.

If one can have that and directs into investments, that's still a good strategy. IMHO, whatever works for your perfectly, you need to be consistent with that.

And if you're able to build your investments then it's time to have the EF focused until you match what's the recommended amount.

Emergency funds are important because you can never know what will happen so better if you have funds that you can use if you experience unexpected situations wherein, you need money for you able to overcome it. Majority of the normal persons, do not have it because they do not really know its real purpose and that is the reason why they are struggling especially when they face emergency situations. For me it is important and consider as necessity especially if you will also make an investment in crypto market.

You need it as a safety net that you can use if you experience huge setback or incur losses but make sure that your priority is a lot more towards investing and not savings. As for me, better to save your 15% of your monthly income, put the 45% of your income to investment and lastly put the 40% to your basic needs and necessity.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Quote from: Andrija Branislav on May 02, 2023, 10:16:56 AM

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

When I've asked financial advisors, they're always telling the same thing and that's to have an EF, yes emergency funds. And it's like having a 3-6 months of EF based from your monthly salary.

If one can have that and directs into investments, that's still a good strategy. IMHO, whatever works for your perfectly, you need to be consistent with that.

And if you're able to build your investments then it's time to have the EF focused until you match what's the recommended amount.

Betwrong

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Quote from: barisbilgili on April 30, 2023, 07:12:30 AM

Quote from: Betwrong on April 30, 2023, 05:23:35 AM

~

it's true and i experienced it though not with savings for 2 years. laugh out loud
if saving is meant like that in my opinion it is very bad and even worse things will be experienced when our hearts are not good and many things happen that are out of our control.
saving is not setting aside money every month but saving after all needs and desires are met and adding income every month to be able to set aside or save.
and also saving is not holding back to meet a need or desire for oneself, that is stingy.

Idk

, I think even billionaires never think that all their needs and desires are met. But if it's like this in your case, I can only say, good for you! I and other people should make an example of you. Usually people want to spend more and more, and their wages are not keeping up with their "needs". I put that word in quotes because more often than not they might live perfectly without all those things they think they can't live without.

Andrija Branislav

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Quote from: mk4 on March 10, 2023, 02:19:52 AM

Saving money should be done by default, not only when financial/economic problems arise.

Don't solely stick with saving money though; attempt to increase your income by having side jobs/businesses/gigs. Growth from employee wages take a crap ton of time and effort for it to increase.

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

n0ne

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Activity: 2618

Merit: 548

DGbet.fun - Crypto Sportsbook

Savings is the basic for investing. Most of the time people find investing to be risky and stay away from it and never look at the profit it provides. There is a saying which could help you turn rich someday.

Have an insurance, because it'll help you avoid miscellaneous and emergency needs
Save and invest, when you feel you don't have good capital
Learn during the process and with the profit out of investment try to have income coming from different streams

sulendra12

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

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.

It's a tough condition for him, my condolences.
Pretty common to lose the job with this economy condition and it's pretty sad to see especially if it was his only job.

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

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 ?

Having a saving account and money would be a great idea to do when you have a chance to spare your money from your salary to save. At least when you lose your job, you won't be miserable for few moments until you get your new job. You think that it's enough to just make it with your monthly salary but we don't know what will happen next, so better safe than sorry.

Alisha-k

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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 ?

lot of people over look this part of life and it is a necessity, a very strong one at that.
Like, even when you're an entrepreneur, it is expected that you save for unexpected situations talk more of when you work under people, you could be laid off without incentives at any time so why not save while you can??

uche6215

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The aspect of saving money depends on the amount of salary one revives after profession, it's good for someone to get a job that is well paid more than his or her monthly bills, if your salary is 100% and your bills expenses is 40% to 50% then you can save money or if you have more than one or two franchises these are the only ways someone can save money.
Just imagine a salary of $1000 a month and your bills and additional expenses are $900 how can you save? That's why I once said if you are working, is good to work in a place where your salary is two to three times bigger than your bills.

Topic: Try to save money while you still can, will you ? - page 9. (Read 2660 times)