Topic: Untouchable Savings: Do you have it? - page 4. (Read 1003 times)

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.

Until now I have never had savings that are not touched. My dream is that in 5 years I will have income from the cryptocurrencies that I have, apart from bitcoin, I am currently also investing in some altcoins which I hope can skyrocket to 10x or more in 5 years. and in my opinion the opportunity to get big profits from cryptocurrencies is very large compared to other types of investment

In trying to save, they're things we shouldn't deprive ourselves and no.1 is our well-being (food). It's different when there's no money to feed than when there's money and you decide to starve only to save up for unforseen circumstances.
For all I know, your decisions might bring about something that the money you have saved up wouldn't even be enough to get rid off.
Nothing beats life, cause that's the only thing in this world that can't and shouldn't be traded for any other thing, so now we have it, make sure you're comfortable and satisfied.

There is a huge difference between untouched savings and untouchable savings.

Rational people will have, if they can afford it (!), some savings they will not touch unless something big and bad happens. Does this means they'll die before spending all their money? Yes, and it's fine. Having a certain peace of mind has its costs.

Untouchable savings is imho stupidly risky. They have their purpose in case of people with certain addictions, but it's something that has to be treated with extreme attention. It's more advisable to allow other (trusted!) person/entity take care of those savings than lock them and make them untouchable, since if a health issue comes up, one may need that money, but may not be able to touch it.

Sometimes in life we are too anxious about what tomorrow may look, fine and good that it's not a bad thing to prepare ahead for the future but too much of everything is bad, we need to have hope for tomorrow and leave well for today to in other to be alive, this also affect how we plan for our financ lives in general, what will it benefit us when all we could do is to save up money for the future by all means at the expenses of denying ourselves the right to live the present life which will apparently be the determinant for that future we are aiming for, we need to think well about the approach we give to live in general at the expense of our live, while trying to secure it but loosing it instead.

In trying to save, they're things we shouldn't deprive ourselves and no.1 is our well-being (food). It's different when there's no money to feed than when there's money and you decide to starve only to save up for unforseen circumstances.
For all I know, your decisions might bring about something that the money you have saved up wouldn't even be enough to get rid off.
Nothing beats life, cause that's the only thing in this world that can't and shouldn't be traded for any other thing, so now we have it, make sure you're comfortable and satisfied.

Yes, you do have  the savings but on the moment on which its crucial on spending it up for good and then unfortunate things happen.Then what would be next? For sure you would really
be regretting for the rest of your life when you do lose someone just because you have sticked into your plan.It isnt always that you would really be ending up on positive way.
We know on what these savings are really for but there are really moments which you would really be making use of it on the right time and on the right spot.
Savings does do good things but you should know on what are the priorities and responsibilities you do have.

When too much commitment in savings have gone wrong and then an incident for which you can save with your savings isn't being done.

That's why sometimes when you have to realize that the only solution is what you've done for saving. It is the means of why you have been saving up money ever since.

And the same goes with investments, when I was younger I don't want to spend my savings because it's lovely to see those digits goes up but yeah, that was me when I was still young.

It was indeed the purpose since from the start on which we are saving for emergency purposes or for investment.If you are on a tight situation or on trouble then you should really be having no doubt on spending on what you do have because this was the sole purpose from the start.You cant just risking up something just because you arent spending on what you had saved.It is really just that bullshit for you to skip out
on helping yourself on solving the problem even if you do know that you do have the money to spend to begin with.Sometimes its not really that bad on to break on what you are trying to
achieve or simply with your goal because there are really moments in life which cant really be avoided.

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No one knows about things in the future and is always a mystery and we can only predict for the possibility, we don't know whether there will be another pandemic or not, maybe it could even be worse than a pandemic, of course that is a worry for people who feel Future security must also be prepared today, even though it has been several years running and the emergency fund has not yet been used. We can pass it on to our descendants or our wives or whatever it costs when we are old.

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I think the understanding is more like "if you save enough, would you buy a brand new car?" type of thing, like instead of life, it is more enjoyment or more like assets and I agree that if you say yes to that, then it is not untouchable. Basically if you have a goal to spend that money on something, then it is not untouchable and you should consider keeping it for a longer time.

That's how money is made for, to be used and cater our needs.

If the time comes that we've got no choice, we really have to do it and I've done it before and realized the importance of saving for the rainy days.

We're not just there to save and not touching it but to save and then find the purpose of what we're doing for us to see the betterment of the situation that we might get in in the nearest future.

Selling is indeed not bad because there are situations and conditions in life on which it could really be resulting for us to sell in no time.Yes, it do really sucks but we do really need for something important.

Money isnt everything but somehow as far as possible then saving up is a must but if you do see the situation becomes getting worst because you arent doing something or do action then its
not bad to give up and make use of on what you had saved.Honestly i've been put through on lots of situations on which it didnt really leave me no choice but to
sell out my assets even when they are still on negative or not on the good side but well i dont have no choice.

I stumbled upon this interesting tweet days ago.

snip

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?