Topic: Untouchable Savings: Do you have it? - page 3. (Read 1126 times)

I save for the future, but if the reason comes over life or death like emergency, then sure, I will use my savings. We only live once, right? And we save for our future. Then what's the meaning of saving if that future is at risk? But I won't spend my savings on luxury things. If something is working for me just fine, then why replace or change it in the first place?
So for me, Emergency situations - I will spend it.
Something in order to show off or get something better - No, not a chance. I will work for that till I can afford it, but not with my savings money.

My story is rather uninteresting, but let me know yours. Does this idea also apply to you? You could have the money to buy a new car to replace your old and broken one but you prefer not to touch it. Do you hold yourself from spending what you have to the point of depriving yourself of what you deserve? Do you keep significant savings for occasions that might only happen in your imagination? Or at what point would you allow yourself to be drained of your last penny?

And you also don't need to be sure of that, because anyone who has untouched savings also doesn't talk about his assets in public and say he's a philanthropist like you say. If you give money to other people for free without a good reason, it will only look amazing to those who receive it. Whereas those who give it will only get a few words of generosity from people who know it, but more ridiculous in my opinion.

I am not sure - who are the lucky people who would have a untouched saving..
I dont even hav an emergency fund
Because I have a loose hand and a loss mind. and people get money from me and I give it to them

I've heard about some people making the complain that they finds it difficult to make some savings without ending up touching from it, but the solution is once you know your personal weakness towards saving money then you need to try adopt a means that could restrict you from having access to that money your saving, you can do so by joining a daily, weekly or monthly contribution, this will also increases your eagerness to wanted to save up in other to meet up among others, it encourages been determined and steady commitment towards having savings.

I am not sure - who are the lucky people who would have a untouched saving..
I dont even hav an emergency fund
Because I have a loose hand and a loss mind. and people get money from me and I give it to them

At any point I dean it fit because I see no reason for saving and be starving or saving money and be looking tattered not in my field of work because you'll be addressed by the way you dress and compose yourself.
I've personally seen saving as a means of scaling through hard times when they come. I think people have been having the wrong concept of savings and that's not right and money is kept aside to be used when the need truly arises without having to bother anyone or seeking for help from someone else.
I haven't been in a situation where I truly needed money and having to go through the hard time knowing that I have a savings and yet act like I don't  because I know the money was met for such purpose.

at what point would you allow yourself to be drained of your last penny?

Actually, the world is experiencing a very bad period with regard to economic and political events. These two domains are highly influenced by each other, so a person should estimate that everything could happen in this changeable world. Untouchable saving is a much needed thing these days, because as we can see, people might lose their jobs, have a bad accident (like the earthquake in Syria and Turkey), get sick because of a new virus (like Corona) and so on. For me, I have a saving balance which I try to increase every month. On the other hand, I strive to reward myself with something I like to eat/drink when I complete an important job, or when I reach a threshold of earned money, so the balancing between the saving and buying what we like to eat/drink is a good skill, in my opinion, we sometimes need to do what we like in order to maintain good mental status.

Saving money doesn't mean your depriving or starving yourself, because you will never know what will happen tomorrow, the day after tomorrow, and months to come. Saving and spending for leisure (minimal expense) is important for your mental and physical health. There's no contest in savings, there is no time limit and there is no reward when you hit your desired savings ahead of time. Nevertheless, savings are usually for emergency funds.

My story is rather uninteresting, but let me know yours. Does this idea also apply to you? You could have the money to buy a new car to replace your old and broken one but you prefer not to touch it. Do you hold yourself from spending what you have to the point of depriving yourself of what you deserve? Do you keep significant savings for occasions that might only happen in your imagination? Or at what point would you allow yourself to be drained of your last penny?

I stumbled upon this interesting tweet days ago.


https://twitter.com/SchrodingrsBrat/status/1622320014215856128?cxt=HHwWgIC-9aPd0YMtAAAA

Many of the comments are equally interesting. They apply the idea to all kinds of things including the game Resident Evil. And then I thought perhaps this is also true in the economic aspect of life. Perhaps this aptly applies to those whose economic lives are like the desert and whose little money they have they keep tightly for the hardest of days.

When I was studying in the university far from family and relatives or even family friends, I had a difficult time. Money is extremely scarce. Early mornings are usually for hot drinks-- coffee, chocolate, milk, tea, or whatever. I realized that what made those drinks important is that they are hot. So I learned to drink only a hot cup of water which I could easily ask for free from the eatery in front of where I stayed.

Come meal time, I would also request that the serving be made in half. That's to save money. But I had the money. I always made sure I have some. Emergencies and unforeseen expenses may arise anytime. So I need to have money all the time, but I won't touch it. Ironically, it also gave me hunger, inconvenience, discomfort at times.

My story is rather uninteresting, but let me know yours. Does this idea also apply to you? You could have the money to buy a new car to replace your old and broken one but you prefer not to touch it. Do you hold yourself from spending what you have to the point of depriving yourself of what you deserve? Do you keep significant savings for occasions that might only happen in your imagination? Or at what point would you allow yourself to be drained of your last penny?

My story is rather uninteresting, but let me know yours. Does this idea also apply to you? You could have the money to buy a new car to replace your old and broken one but you prefer not to touch it. Do you hold yourself from spending what you have to the point of depriving yourself of what you deserve? Do you keep significant savings for occasions that might only happen in your imagination? Or at what point would you allow yourself to be drained of your last penny?

We do saving for the future, not only for emergencies but also for investments. But being a student, saving is a tough thing to do especially when our parents don't have enough money to support us and sometimes, we need to sacrifice our wants just to have some savings. If we can manage to save at least 10% of our daily budget that seems big enough.
As I do savings before, I don't think about inflation nor do I think about how much it value years from now because what is important in my mind is to make preparations for the incoming days and I have something to use when it is really in need without asking help to others or from my parents.

My story is rather uninteresting, but let me know yours. Does this idea also apply to you? You could have the money to buy a new car to replace your old and broken one but you prefer not to touch it. Do you hold yourself from spending what you have to the point of depriving yourself of what you deserve? Do you keep significant savings for occasions that might only happen in your imagination? Or at what point would you allow yourself to be drained of your last penny?

It's everyone desire to have some savings however certain circumstances might deprive some individuals from having a savings, personally I wouldn't allow my myself and family to starve just because I am trying to save or trying to avoid withdrawing from my savings that doesn't make any sense, however after taken care of family basic needs and necessities in term of expenses, the leftover can be saved or I leave my balance from my savings if any opportunity of refilling or depositing more funds arises I will do so, though it's absolutely difficult to save now in my country due to high rate of inflation that lead to high cost of food stuffs and other services.

Means you are always using the money you turn into more investments. I don't think that kind of thing is wrong for you to do as long as you feel very comfortable doing it, but you also don't need to panic when there are more price drops on the assets you invest because you have very big targets over a long period of time. And actually when someone is making an investment, what really needs to be controlled besides the price is panicking himself when there is a sudden drop in the market.