Bitcoin Forum

I stumbled upon this interesting tweet days ago.

https://i.imgur.com/brtlfEE.png
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?

The difference between savings and no savings is often just a few percent in spending. If you spend a tad more, long term you have no savings. If you spend a tad less, you'll always have something left. I like having something left.

"The difference between savings and no savings is often just a few percent in..."?

A: Spending

B: Inflation

;)

I think when it comes to untouchable savings it is also unavoidable to consider the economic environment and circumstances you are in. Argentina and Turkey had an above 80% inflation rate in October 2022 year-over-year.

The "untouchable" somehow implies that you lock it away and perhaps even refrain from managing it. I know that is my assumption about what OP wanted to express with the question, but I just wanted to point out that in certain circumstances even the untouchable savings must be managed thoroughly.

If with "untouchable" it is meant that someone earns fiat, puts it aside and strictly doesn't touch it, then those untouchable earnings might vanish over time despite any good intentions of the disciplined saver.

If with "untouchable" OP refers to a fixed amount being invested in liquid and rather safe asset classes, that makes more sense if it is to be understood as a general rule or basic principle.

When I read about an 88% inflation rate in Argentina, the bitter truth is that those who put their money aside for years with very high discipline, turned out to be the big losers anyway.

So the fact of the matter is that building wealth starts with educating yourself about financial management and not underestimate the impact you can have on your own situation by familiarizing yourself with some basic terms and rules.

I always have untouched savings even though I can take it and spend it whenever I want, but there are some things that I really have to prepare money for or have savings that I can't touch for other needs, this happens because I have a plan for certain situations such as the case of savings specifically for bill payments or other urgent payments that I might have to prepare in advance. Especially in the current economic conditions, I don't know when I will get money again, therefore I keep it while I have it and don't touch it, even though I have to eat potluck food for a while.

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.

Not only in Argentina, keeping fiat generally is not advisable just as your post generally meant.

Inflation in countries that is recently over 50% :
Iran     52.2
Ghana   54.1
Sri Lanka  54.2
Suriname   54.56
Turkey   57.68
Sudan   87.3
Argentina   94.8
Lebanon   122
Syria   139
Venezuela   156
Zimbabwe   230

Only one country with disinflation which is South Sudan, all other countries are experiencing inflation, even including the developed ones.

https://tradingeconomics.com/country-list/inflation-rate?continent=world

Bitcoin is one of the asset that people can invest on, although educating oneself is very important for not to invest at the wrong time. Bitcoin is a store if value in time like this, but not advisable sometimes. Sometimes, it is better to go for other assets. Diversifying is also good and wait for the right time to come again.

You can try to spend less all the time while the future is uncertain. But it wouldn't be right to make the money you save to be untouchable. One that you can do is sell your watch and jewelry to a pawnshop or to your rich friend as your last resort.

It's not good to hide your fiat money these days because inflation will eat up its purchasing power which in the end, you won't be able to buy anything out of it. If there is anything that you could make untouchable savings, its BTC in your private wallet.

Yes. I have untouched savings until I reach my goal, so I can finally touch it. I think it's important to keep this personal rule for your life, otherwise you are going to use funds which were supposed to be untouched for any banal reasons.

In the case of the person who was found dead on the desert I think it was a lack of management, although it's unlikely he/she would have survived even if the water had been drank. The difference would be to find the body with an empty bottle of water, instead of a body with a full bottle of water.

I don't have savings that are "untouchable" but on the other hand I won't just waste money on things it's not absolutely necessary to do.

Nobody can really foresee all the circumstances that could happen to you, so it helps having more money allocated for savings than what is necessary just in case the truly unexpected and horrible does happen.

Untouched vs. untouchable, good point and important to consider! That is certainly another very important distinction you added here.

No because that is slavery of oneself. Slavery is dehumanising and to give yourself such a treatment is just worse of it all, why deprive yourself of what you can afford? That means you suffer or labour to make money and you also labour to eat from same money, that is bad. Money is meant to take care of our challenges whether direct financial or indirect, money is important.


It may not be intentionally. That is when you don't have financial challenges then you can save but if you do then you can't save if you barely survive with the little you earn.


Health and medical issues because it involves saving of life and that is why they say health is wealth. If you are alive then you have hope of being wealthy.

Saving is important for anyone who can afford it, because everyone knows that there may come a time when they need much more money than what they receive as their weekly or monthly salary. But I know personally of people who save to the extent that sometimes it seems that they need financial help, and at the same time they refrain from spending at least as much as they need for a life worthy of a human being.


Such saving through personal renunciation of something that you need to function normally is wrong for me personally, and I believe that you understood that after you experienced it on your own skin. A man cannot function normally if he is hungry or if he is cold, and at the same time he has means that can solve all of this, but he refuses to use them. Saving money by giving up cigarettes, coffee, bad food, alcohol and the like is logical, but being hungry and at the same time having a full wallet is simply wrong.


If the car is very old, breaks down often and repairs are expensive, then you are literally wasting money trying to keep it in driving condition. In addition, the safety of you and those who are in that car can be endangered, so a new car is not a luxury, but a necessity that has a purpose. In addition, you can save significantly if you buy a used car that is in good condition.

To hard for someone to have untouchable saving or declare as it is especially if there earnings is just enough for them to live, if you are in that situation maybe you shouldn't do that since it will really starve you and you cannot get the things that you wanted. But we can do something to have extra income and have what we can declare as untouchable funds and to able not to touch it better separate some amount or even have different jar for emergency funds and other jar for your future wants and needs.

Why will you want to save when you know you need to satisfy your thirst first, you can only save when you have residual income not saving at the detriment of yourself even at the verge of death.
Untouchable saving has more to do with long term project or wanting to earn some interest in a certain account for saving for a long period.
But I don't agree on saving when you're immediate needs haven't been met.

The big difference with the wealth is it carries over to your next generation so there is no regrets if you have such untouched savings which you had the intention of your hiers.

I don't have such but if possible I will be open to it and let the upcoming generation feel little ease while making their own investment plans, and about spending when its really needed just spend for it cause there is no point of keep staking it even when you needed it most but don't use it unnecessarily which gives short term pleasure and nothing else.

When I was still younger, I have thought about having all of your money in the savings bank means that you're wise and you'll be living well off until I grow older but I was all wrong. That stock knowledge that has been taught to the most of us, there's more than that.
They've never told about inflation and the idea that you'll get rich by having more money is what matters as the main topic related to finances. But then, dealing with the actual thing, inflation, savings and investments, it's truly a broader thing. Now, I've got not that much savings as most of my money are scattered in different assets and investments.

OP, Your story speaks to your intelligence and maturity, even as a student. Some young people, even when away from their parents, do not know how to be independent. They regularly remind their parents that their accounts are depleted. But as a result, such people achieve little in life without experiencing all the difficulties of education and self-sufficiency.
I liked the phrase I recently heard in a comedy, but it is more relevant than ever: saved - consider earned.

You always need to have some kind of untouchable money in case of unforeseen circumstances, but there is also a good expression: money should not lie around as dead weight; it should work. If you have extra money, put it into some business. In my case, this is a store rental. And also, for those people who just save money without any purpose, no matter what, their profit, as a rule, always slows down compared to the money that is spent on travel, cars, houses, and so on.

I have savings, but I can't consider it as untouchable savings because I can use that savings if there is a certain thing that I need to buy, or if there is an emergency where I need some funds to pay the bills. I can't considered it as an untouchable savings, but just a simple "emergency fund".

Your experience is something that I didn't experience when I was studying. I didn't deprive myself from foods or anything because I need it because if you are suffering from hunger, your way of thinking and your whole body will get affected. What I'm not doing at that time is spending my money into things that I don't need. At that time, I can still save money from what I'm doing, but for sure it wasn't the same as yours. Overall, your way of thinking isn't normal for a student because most of the students now are having this "YOLO" mindset where they will just spend and spend without thinking their future.

Depriving myself is something that I will not do especially when it comes to necessities. I mean you can deprive yourself from entertainment or pleasure, but from the things that we need. Currently, I always hold myself from spending to the things that I don't need because I need money to buy something that I need.

I would say this set of student are children born from homes where everything is given to them. One who comes from a less wealthy home has to really manage his funds because he doesn’t know when next he is getting a refill.

In my country here almost every parent has this untouchable savings and it is mainly for the kids education it is only on rare occasions that you see it been touched, cases likely to health issues.
Nothing is bad about having untouchable savings but haven’t to leave even if it could be use to save life looks dump to me. I also have savings but not that untouchable because I have specific period for each savings and when the time comes to use it I withdraw all. But it is always had for me to use this fund when it is time just yet. Most of this savings are either for rent or tuition fees.

That is a very good question.

In the past, I would approach some things as if I had an infinite amount of energy and could never get tired. There are doctors and health experts who recommend that people avoid stressing or straining themselves. I did the opposite of that advice for many years. Which makes me wonder how I did not succeed in screwing up my health or simply dying. Even I do not know the answer. All I know is I ran myself ragged for a long time.

It is possible approaching things as if you have infinite energy, is exhausting. Giving yourself an incentive to learn how to generate greater amounts of energy.

While actively pacing and rationing the amount of energy expended. Gives zero incentive to learn to produce or gather more of it.

The same principles might apply to money. Actively spending and going broke could produce incentive and motivation to develop methods to amass more money. While rationing expenditures might produce an illusion of comfort and safety.

In my country, most people live pay check to pay check. They got savings but these are considered retirement and they are locked in or if you want to withdraw there is a big penalty.

Most people living in North America have a net worth which is negative. If you have a net worth of $0, you are considered lucky because you don't owe any debt. Mortgages, cars, cell phone plans, credit cards, line of credit, etc. These people are slaves to their debt and will be paying it for the rest of their lives. Hence why many are suffering now due to growing inflation.

That is very nice story and I am also impressed by the tweet of yours. It just made me think lot of stuff that I do on everyday basis and can help me reduce my expenses or at the same time help me gain more exposure on spending on right stuff. This is really important to understand because we always get carried away with unwanted expenses and regret it later. The emergency fund is really important and we never know what circumstances our lives would put in front of us. Better save some money in the name of emergency and spend most of it but only on logical things and routines.

Well it applies to me depending on my situation right now. I usually keep my money and just spend it to what I needed the most since the unexpected things may arise at any point. If I really need some food right now, I would be obviously spending my last penny for it as my starvation might even affect me to somehow survive in finding another income or source of money.

You never want another problem to arise once that sign that you needed to buy or consume whatever that is showed itself. Sure you might hold off your last penny to buy that last burrito, but it will be more costly in the end if you get sick after you finally found another source of income. Kind of a domino effect?

My aunty was a very hard-working woman that engaged in so many trades to ensure that she saved for her children. Due to her quest to save for my cousin, she always ate an unbalanced diet and visits quack doctors whenever she was ill. My mother will always advise her to take good care of herself but she refused to heed her advice. She died because she ensured that her savings are untouchable. A few months after her death, my cousins squandered all she had saved for them.

For now, the only untouchable fund I have is my bitcoins and the fiat account I have is for my daily expenses. I can only touch my bitcoin if there is any investment opportunity that offers some higher rewards or in case of emergencies like health or loss of Job. For me, there are no untouchable savings because life is full of opportunities and uncertainties.

ok an out of box/another layer of thought about this:
the non zero "store of value"

we all know bitcoins retail market(cex) spot price is volatile. but not many know there is a non zero bottom store of value below and outside of the spot market

when in 2021 it had a $10k non zero bottom. with a market volatility of speculation of $30k-$70k
the markets could have at its maxis gone $10k-$75k of speculation
but always above $10k due to some fundamentals that exist outside the market

so this $10k Store of value is the "untouchable savings"

when buying a coin in 2021 at $70k you have a untouchable saving (wealth protection) of 1/7th (~14.3%)
buying at $30k is a 1/3(33% wealth protection

in 2022 the non zero bottom was $15k
so if you managed to buy at $16k you have a "untouchable wealth store of value" of
93.8%

this is where i use the topics fear utility of untouchable savings.. as a positive thought about locking up weal value by knowing the assets "non zero bottom" to protect it from markets touching and losing X value

thus allowing me to better make decisions of when its best to spend money or not.. to invest in a asset or not. when its best to sell an asset or not..
thus if i made Xmultiple gains, to healthy sell some assets without depleting or losing the untouchable value

My experience may not be very exciting, but I'm sure many are like me.  I tried more than once to keep my savings without compromising them, but over the years I did not succeed in making use of those savings as I had planned.  I remember when I owned Bitcoin mining machines in 2014 and my decision to keep what I earned because I was convinced that the price would inevitably rise.  And after I got a good amount of bitcoins, I had to sell them to clear accumulated debts that my father left before he died.  I could deny those debts, but I could not override my father's will to pay off all his debts after his death.  Ali's death was a double shock to me.

I feel it is my case.
It is specially difficult to me to spend money on things I deem to be unnecessary and I try to safe as much as possible, that means I can easily spend two years without buying anything for myself for the sake of the future. It was not until recently that I have tried to face the apparent problem of compulsive saving.

Now I try to use some money to enjoy with friends and buy some gifts for myself, but it is difficult. I blame the harsh economic times my family once went through.

when it comes to fiat. untouchable savings is what some call "under the matress" savings

however these depreciate over time because of inflation devaluing that money.

i would not recommend having untouchable fiat savings. however i wont recommend spending spree either.

its best to find ways to make your savings "work" for you. and accumulate more "savings" to outpace the fiat inflation devaluation

this maybe simple things like buying a lawnmower. and renting it out to the neighbours kid so he can have a hobby job mowing lawns for the neighbourhood
where eventually your lawnmower investment gets more in return
without you needing to be the landscaper/grass cutter guy

EG a $130 lawn mower where you rent it out for $3 a week gets you ROI in 1 year +$26 profit
and the kid is getting $15+ per 1 hour work a week.. everyone wins

Yes, I have untouched savings for case of emergency, which I use when I find myself in a difficult situation, but when I am saving for a particular thing I make sure to discipline myself and don't touch it until I achieve that thing  I am saving it for, It is good to have savings, there is no successful person on earth who didn't start by practicing financial discipline by having some savings. Saving makes way for a better future financially, to be successful financially, one needs to know cultivate the habit of saving.

be cautious with fiat savings

lets say you invested $100 in the 1980's where back then it was enough to go towards 1/3rd of an old rusty second hand car with a years life left in it
thinking that this saving is good enough that when your kid gets to mid-late teens the interest and such would cover 100% of your kids first cheap car to drive

well over that decade and a half you soon realise the end amount of $150 doesnt even cover the cost of a bicycle

i agree people should save. but also should accumulate to outpace inflation

I never have "untouchable savings", because savings is there to make sure that I do not suffer when something big happens. Right now all of my investments I had for the past 2-3 years is gone these days, sold them all and had to cash them out but that's alright, I can save again anyway, not a big deal. I will probably have it again soon, its going to be tough period so I am not going to have any savings at all for a long time unfortunately. But when I do have savings, they are NEVER untouchable, they are there so that when something big happens, and I need money, I can use it to make life easier for a moment.

Not sure how true that story is and might be a bit of a myth to try to prove a point. Some of the stuff you say is a bit silly and being too frugal can bring a lot of misery in life, you need to really enjoy the little things. Hot water without any flavoring is completely different to things like hot chocolate or coffee. Depriving yourself of an adequate food portion can be equally dumb as having energy in your body can help you be much more productive in the long run, it is the fuel for your brain and muscles after all. Having an emergency fund of money is definitely useful and you should not touch it, but it can be stored in various forms - instead of putting it into a company that might return 6% in yield you might settle for a bank account paying out 2% in each to make a little bit of profit from your safety net.

Untouchable Saving is a sort of preparation for whatever happens to us like for emergencies and many people are doing this. It is actually we can do this if we wanted to do it and have a plan but in your case OP, I don't think we need to sacrifice our health just to spend less and save some money because it might lead to huge expenses if our health got compromised. We can do savings in the other way, what I did before is to walk from school to our house to save my fair and keep it.

Savings is good but we are also affected by the inflations. It was better to save less but invest more.

I could say that im a bit different on which i would be having the mindset is that on what im really working for? on where or which i do save up? Its understandable or something really that in default on having a

savings but making yourself limiting into things that you do want then you arent really living your life to the fullest because you are worrying on something.Its true and it isnt bad to be prepared via having those
savings in preparation or in accumulation but it cant really be just denied out that excessive savings could lead up on unhappy life considering that you are depriving yourself on buying
on what you do really like to have or its impossible that we dont have any wishlist or something.

It is quite hard to have an untouchable savings since I am an active investors, sure I have untouched savings but the moment that is to be touched and use when I hit the needed amount for my planned investment.

For a person that is earning just almost enough for family budgets, it is quite hard to save, we really need to budget things accordingly and avoid expenses that is unnecessary.  The better approach is to take side jobs which can earn us more and enable us have the luxury of having an untouchable savings.

Not spending your savings is fine as long as it serve its purpose and personally, I have some savings that I’m still not using because its intended for a different purpose like for emergency purposes but I’m not depriving myself into anything since I can still get what I want even if I save money. I believe how you handle your finances will matter here, don’t be too hard with yourself, if you have the money to spend on important things then spend it, and buying your wants sometimes is fine. Having a limited budget will force you to be more strict with your money, I’ve been into this situation and its really not easy to spend your hard earned money.

It surely applied to me at one point, especially the same as your situation OP. Back then funds aren't as easy to come as when you're employed, given the fact that I was forced to study only to "focus more" on getting that degree. That being said it made me very stingy of the very little money I get every week. The very little money I have however, is spent on things that are of value to me. Things that I know would help me later down the line, so in essence it's not really untouchable money. But during the time and the eventuality of me saving money, I'd find myself thinking that I'd rather save than starve the next day, I only ever really stopped when I realized it's causing some huge detriments on my health too.

One thing that I'd just like to put out as a rule of thumb for people out here who are in the same spot. The money you save by jeopardizing your health and your well-being will be gone when you have to pay for hospital bills. So it's fine if you couldn't save for now, health is wealth as they say.

I would rather spend less than don't touch it to deprive more of yourself. Although, you can't help it because when you really needed it you will have to get it but of course, you still have to control yourself from spending them all at once or buying unnecessary things that you don't want right now.

Maybe if I try the untouchables savings, it will need a year or so before I touch it again, depending on the needs. But overall, there's always something left to that savings since I don't spend them all like what most people do. They get to work then get their salary and spend it like a millionaire on a single day then deprive their selves again for another month or most likely they will take loan which is adding more problem but they don't bother it anyway as long as they have money but they didn't think how expensive they were when trying to live.

Everything should really be in control or simply in moderation because spending too much is always been bad and there's no way that you wont really suffer out and this is where people been thinking or should be thinking
on which spending on something that is important which should be prioritize first and be practical as much as possible.We know that we cant be healthy forever on which there's a time that we might be needing
soo much money specially when health issues do able to hit up us hard where finances would be mainly be affected.In overall your riches cant really be brought into your grave and this is why
some people do really spend up on something which they do enjoy their lives.

I have Untouchable Savings. I keep in usdt as i believe savings should be liquid at all times. Any banks for storage are highly unreliable. Keeping Untouchable Savings in gold and the like is also unreliable.

Personally, your way of saving is way too extreme; I'm not going to start eating less in order to save money. Yes, I will avoid buying junk food, such as chips, chocolate, candy, etc., but not cut down on food. I'm also not going to be drinking plain hot water; I'll buy a coffee or a hot chocolate every now and then; it's no biggie; I'm still saving money. I'm not going to become obsessed with money by living my life poorly.

Moreover, as Lucius already mentioned, an older car might be more expensive to run in the long run. My previous one kept breaking down and requiring repairs much more frequently than my newer one, which I've only replaced a resistor on so far, which I did myself.

Well, yes. I tend to allot my budget for the whole month and that includes personal savings and emergency funds separately. I am fully aware that there will be times that those alloted money could be spent for any reason possible but atleast, if you planned where those funds will really be used, you'd resist not to use all of it to another thing which it wasn't meant to. On a long run, having savings would really be helpful especially in times of need and for future purposes ofcourse. But I won't judge those who does not have it simply because we are going through different circumstances; ofcourse anyone would dream to have a savings but not all would be capable especially if the salary itself won't be enough for a daily living.

I think this kind of mindset tends to show itself as we grow older, and more intelligent on the financial side of things. But when we are young, we don't know how to save for the rainy days and think of our future.

That's why it really good to let the young generations knows a thing or two with regards to investment specially assets like bitcoin. It should be in the long run and what we all preach, invest what you can afford to lose.

You're probably right. In real life, however, it's more interesting. I have an uncle who died with much money. He was thrifty. He normally bought used clothes only. I guess he was a bit paranoid so he saved a lot for whatever extreme may come, probably health issues and costly hospital bills when he gets old. On his deathbed, ill, he told me he'll be recovering soon because he has yet to go to the Holy Land. That was apparently on his bucket list. He never made it there. He left more than $20,000 in his bank accounts.

It made me think, what if he lived to the fullest, spending all his money down to the last penny, and died penniless but satisfied? Would it have been better?


Such an unfortunate yet common scenario here in my country. I don't know if this has something to do with human nature or something cultural.


I appreciate your view. I love the idea.

My observation here is that this is usually the case with the people who are daily wage earners or those who are living with side hustles only. Near my place is a slum. Some of the people who live there are my friends. I noticed that they are also the people who don't think twice of spending whatever money they have. I can even go as far as saying they normally have better food on the table than those with permanent jobs. I'm even awed at their ability to disregard what you call the "illusion of comfort and safety." They're not afraid to go broke. I guess it's not a risk for them. They're living their lives day by day. Having no money simply means they need to look for some work.


This looks bad to me. I don't agree, and I don't encourage this. USDT is more unreliable than gold and money kept in banks.

To be honest, I have a lot of untouchable savings and same as you, I don't intend to use it unless there are emergencies that I really need to take care of. We may have different reasons why we have shaped this mentality but overall, I believe a really horrible experiecence or a period of hard life leads to where we are. However, refusing to use the untouchable savings does not mean our life has been deprived of what we deserve. I certainly feel financially secure or at least confident with all savings and my standard of living is quite stable and reasonable because I get my needs satisfied. For example, I bought a new SUV nearly two years ago and that was basically for my family because at the time my daughter was newly born. The cost did not bother me much even if I took the money from my savings because I already made the equivalent money and put it into savings. Am I still holding the savings tight ? Yes of course but I am also open to any reasonale spending if that improves my life in general. Therefore, I would never be like the people who died in the desert with bottles full of water.

True be told, money gives me peace of mind, my mind will never be a rest if I don't at least have some fund saved somewhere, I prefer if something happens to me (death) while having some money, it is more better than having a long life with no money.

In 2016 I had a million in my local fiat currency that I couldn't touched, because I have goal that most be achieved, even when all my clothes turned rag I kept managing two for a year and a half, later, that money changed everything for me.

In early 2017 , I bought my first Asic and make money through the year into 2018, paid for my tailoring academy and later sold the asic in 2018 bear market, to cut the story short, that 1 million changed everything for me, till this day.

You're trying to cut costs and be frugal because you know education is expensive. Budgeting and getting by on less was something even I had to master. Even if it may be difficult, I believe it is essential to strike a balance between saving money and spending it on needs.

It's important, in my opinion, to appreciate and protect the sources of joy in one's life. If you can walk the fine line between enjoying the here and now and putting money aside for the future, you'll be successful at both.

By establishing financial objectives and creating a budget, I have been able to keep track of my spending and savings. Knowing my monthly income and expenses will allow me to create reasonable financial goals. Reassess your progress toward your targets, and readjust your spending accordingly.

The idea of untouchable savings do not make too much sense to me, if it is untouchable by that logic it should also be not helpful at all. If you are not going to cash that out, will you basically die before you touch it? Will you leave it to your kids? If so, it will never have any impact on your life at all, makes no sense to me.

I personally believe that you should see every savings touchable so that it could have an impact on your life, selling and getting out before it reaches to that impact is a mistake and you shouldn't touch it until that point, but after it becomes big enough or it is a moment in your life that matters enough that you could sell and have an impact? Then you should sell.

Yes, in my opinion, every person should have savings.

This is due to the fact that unexpected catastrophic events can occur in the life of every person (loss of a hired job, illness, serious injury, etc.).

Also, a person may be faced with the need to make large financial expenditures. For example, a person may urgently need money for treatment, purchase of real estate, marriage, etc.  It is also possible that he will have a chance to earn a large amount of money, and for this he will need to make investments. Therefore, financial advisers recommend that 10 percent of all their income be directed to the Savings Fund.

I understand the expediency of such financial discipline, but inflation in my country is very high and in order to maintain the same standard of living, I very often spend money from the Savings Fund. It's not very good ...

OP, yes.... we can apply this to all these Bitcoin hoarders.. that are gathering bitcoins like Scrooge McDuck and never selling any of it. Can you imagine paying thousands of Dollars for some bitcoins and then everything going ape shit and the Bitcoin price going to zero.  ::)

I have done that for many years, but when we reached the all-time-high price of $60 000+ ...I decided to sell some, because I wanted to change my life while I could still make a 800%+ profit on it. I do not care if it goes to $500 000 per coin, because it already changed my life.... and I can now say that I profited, before anything happens to it.  8)

if you bought say 1btc at $7.5k to sell at $60k to make profit of 800%
keep ~5/8 profit. and put in 3/8 (~$22.5k) for the next cycle

it would mean you already turned $7.5k into $37.5k 400%(if you ignore re-investment amount)
a nice win in of itself

and a side lot of $22.5k that can turn into more in the next cycle

which because you are already $30k up. 400% (if you ignore re-investment amount)
then you can enjoy that win AND saving for the next roll around

or even just re-invest the 7.5k again. at 0.33coin and keep the other $52.5k to live on, enjoy

The truth of the matter is that, money can never be compared to water, like in the tweet, water is a natural resources while money is not, if you are in the desert, and you ran out of water, there's always a chance that you would come across water some where, some how, even if it's a dirty water.
But on the other hand, money is man made and very difficult to come by, so just as water serve as a solution to thirst and other basic things like bathing, cooking etc, money on serve as a solution to majorly every thing in life including buying water, so as such, it is not wise for one to spend their money to the last kobo except the spending involves saving a life or lives, a man should have always savings, be it untouchable or not, savings is savings, and why do we save in the first place?
It's so that we will have a solution to unforseen circumstances and came without us being prepared for it.

Someone who have savings, and yet died of a sickness that could have been easily treated, by spending part of his or her savings, or even all, is a fool..

In principle, anyone can create a certain reserve of money for a rainy day. It's just that not everyone observes financial discipline. For example, to work for a whole year and then spend it all in a couple of weeks off is very unreasonable.

I have untouched savings, but those savings are in the form of a business that I manage. the story is like this, I have $20k but I use it to give a loan to a coffee company where later I get a percentage of the annual profit, on the other hand I need that money to buy a car or something else because it will make my daily work easier but in my mind  where money will make money is a wise thing to think about and if profits come why not use them.

indeed in the context it is clearly not the same as money that is not touched but that's what happened in my life. there are times when we have to save and there are times when we have to take it and also there is money that doesn't have to be touched in the long term. that's the economic cycle in austerity for the sake of unexpected things that come to us.

In my opinion, you have put your money in a very extraordinary place with that money that can make more money or in other words, it is profit. That's not only very wise, but also very, very good for the development of your coffee business and your life because every year you can reap benefits like people who pick coffee beans. And if the very varied profits always come every year, I don't think you can buy only cars or anything else. But you can buy an asset that is more valuable than a car at one time.

If you put the profits you get through your business into the bank without even touching them, then you really don't want to touch them for now. But as long as it's not a problem for you, I think it's still very safe for you to keep it as future savings that can make you always ready to face any conditions. Because unexpected things like what you mean can always come to everyone in this world.

untouched saving, I haven't it! Most people who die with years of savings in their possessions have a fear of the future. the wisest thing is to prepare an emergency fund only because it is more useful than untouchable saving which is really not used at all.

The only savings I don't touch are my emergency and life savings. The rest, I try and actively invest. I don't think it's good to discourage people from saving anything especially for emergencies. Not everyone has the luxury to always have spare money on the side that they can use for unforeseen circumstances. While savings might be money that is considered 'sleeping' it could still be a life saver when you need it.

Not everyone can save and invest at the same time, and if you're one of those guys, prioritize saving than investing money, then invest more time on your skills to land a higher-paying job then invest & save once you get there.

Untouchable savings is something people used to save for the upcoming generation. We can't see this much on the Western countries where investment is prioritised. In Asian countries we were able to see such kind of funds. People used to keep on adding specific amount regularly and this will be used by their kids. Something like life insurance.

Exactly! Those people will realize soon once they felt the hardship of not having something to take when you really want it and it's a hard lesson for them. By the time they realize it – it will be too late although, there's nothing wrong if you want to start again but this time you should be wise enough to know when or where to spend those savings because we never know when do we need to use this money. It acts like an investment but also act like as a savings in case of emergency.

I agree, actually it gives me more anxiety it makes me think to I need to have more jobs to have a savings even I need to sacrifice my sleep or my health msut to have my huge savings in the future, right now a small amount is enough for me because my goal is not yet big in life I already have my needs, I need to prioritize my health above anything what I needed is an emergency fund, not a untouchable savings. Don't get offended guys, it is based on my own life and perspective.

I guess the conclusion is pretty simple, just saving without living is pointless.

I know a similar "short story" about two roses walking in the desert... I like to think it's about life, maybe even more about girls :):

Two roses walk through the desert and after a long time, they come across a spring. But when they wanted to drink, the spring told them that they could, but to leave the petal. One rose gave a petal and drank the water, the other kept safe. And so spring after spring, one gave petals and drank water, the other did not... until both withered.

We need some enjoyment and entertainment in life, without that what's the point of life?

I had savings that I hadn't touched for a long time.I kept them for the darkest day and it came.Last year, a war broke out in my country and the savings were very useful because everything changed literally in one day.Now I'm starting to set aside part of my income again for cases of force majeure if it happens.So saving money is very important, but it's important to do it wisely.Namely, without starvation and leaky shoes. ;)

Yes, I have untouchable savings that are allocated for my kids' future. As much as possible, I always do my best not to touch the funds and look for other alternative ways to earn in case of emergency. It is important that we can handle our earnings and savings well because if we don't have the discipline to keep our savings untouchable, we will just disregard the purpose and reason why we are saving.

Our savings are only useful to us when we are alive, staying alive is priority. Any life or death situation that money can yield and be the solution is enough for me to put my hands in my savings. I have insurance for emergencies, but any situation that needs financial solution or intervention and the money I have budgeted has been exceeded plus my insurance cannot cover it, I put my hands in my savings not to completely exhaust it but enough to be able to remedy the situation. I do not see anything wrong with this because the money you have saved is for the purpose of saving you.

Sometimes, don't push too hard if the obstacles are starvation for something we don't know yet, misery that we predict will happen or not, of course that's a stupid thing in my opinion, it would be useless if we save money and we deliberately don't touch the money even though our current situation is it's starving.

That is very good planning for the future of your children, considering your economic situation and income will not be the same as today and later you will not be as strong as today in finding income to save. but if your current situation is having difficulties, eating from paycheck to paycheck without any savings being touched is okay in my opinion than letting your family starve

A very interesting tweet. And honestly a lot of people atleast in my country have this mentality, they would not dare to touch a specific set of savings that they have no matter what happens. They will always be stubborn on the fact that this in untouched savings and amount can only be added to it cannot be reduced from it. I feel one should have such a saving but it should be really like an emergency fund or with a specific purpose. Just keeping it for the sake of keeping it isn't sensible.

This is funny and real serious as well. I can only imagine them to have died in there sleep as, its only in the subconscious that one cannot be able to satisfy or at least offset a want that is readily available. Little wonder why some persons are drawn to crime!

Anyway, in application to our everyday lives, this is very much true. Tomorrow might not be promised anyone but, you should keep the much things that you would need but, that doesn't mean you shouldn't enjoy today. You ought to define the fine line between over spending or lavishing and suffering yourself just because of fright of a tomorrow.

If savings in this context could be referred to savings in bitcoin, then  guilty as charged. Am definitely doing some hodling but I as well make withdrawals in just the amount that I need and when I need it the most. More like a last option sort of thing. Bitcoin remains preferable as it is in itself an investment. Its the most useful way to save anything currency if you ask me.

When it comes to fiat, its mostly just want I need to spend within a period, solve emergency situations and turn them into some investments.

What is being said here is called the "Financial Pillow".
This is a solution that is financial, independent, high-volume insurance in case of critical situations. The situation can be anything - health problems, natural disasters, terrorist attacks (as, for example, Russia is now carrying out on the territory of Ukraine against civilians and against the country as a whole). All these events lead to:
- inability to earn income to support yourself/family
- risks of loss of accumulated assets (apartment, house, car, business, ....)
- the reasons why you will be forced to leave everything that you had up to this point and leave the city / region / country of habitual residence
... and much more

The financial cushion should cover your typical consumption habits for a sufficiently long period of time. According to my estimates, this should be a reserve for 1-3 YEARS! Ideally, there should also be an emergency reserve, for example, at the level of 50-100 thousand dollars, so that when you move to another country / region / city, you can purchase residential real estate there to provide acceptable living conditions for your family (this is a very desirable reserve, for if you have a family).
Total total amount - you can calculate, it's not difficult. Those. according to my estimates, the size of the financial cushion should be about 200,000 dollars.

Yes, there is a nuance - this is the defersification of storage facilities. First of all, these are multi-currency reserves. Secondly, it is, now, necessarily crypto-currencies, possibly shares of technology companies and similar assets.

But there are things in life which we could potentially be able to experience that last resort thing and would be snipping out of those saved funds specially for your kids future but of course as much as we can then we would be still finding ways and methods to solve up the current problem and would really be doing our best not to touch up those allocated savings for a specific purpose but its not bad to
get a portion of it when you dont really have any choice or ways on solving the financial problem you do have.Its not really that a shame for you to broke your plans or goals because
anytime you could be able to patch it up if you wanted to.

Ironically, I have the concept of “ Untouchable Savings”, which is the savings that I have to pay off my home loan each term.  In addition to a salary fund with a control over spending, living the model of a family man, I already have.  Lol, Most talk about the need to make and save.  The more money you earn, the more work you need, the more you spend, and vice versa.  As a result, “ Untouchable Savings” are often hard to come by.

I always believe that there is no such thing as untouchable savings.  Even when you are saving in banks, your money is being used by someone elsewhere.  We may set our savings to be untouched is some span of time but it would be a lie if it is untouchable.  Remember, you have the access to it, if it is in the bank, other people have access to it.  It is also the same thing even if it is Bitcoin in another currency.  As long as we have access to savings, we can never say that savings are untouchable.

I do have savings that, in general, are not to be touched, but not to the extent of the example given in the OP, otherwise it's as if you don't have them.

There are savings that have a purpose: to pay the down payment on a house, to go on a trip, etc. On the other hand, it's good to have a certain amount of savings for something that you can't foresee happening, and in that case they are there to be spent, otherwise why do you have them?


You are right in what you say. If you have your savings in cash at home, that would be one thing, but to have 'untouchable' savings in the bank is very naïve and you don't understand how the financial system works.

If true, I'm the kind of person who doesn't really care about spending the few dollars I have, but usually I always see the need to buy a few things that I think are essential and never hold back from doing so. Because in reality the savings I have will still be used at certain times to buy some items that are really needed.

But you know OP, I apply standard savings in my life, even though it doesn't place me as a rich person right now, I think this is important for something that happens beyond predictions, at least I don't go into debt and take loans when one of my family goes to the hospital , buy a car and build a livable house for the family.

It makes no sense to me not to touch those untouchable savings if you really need them. I don't know if we have the same mentality, but as long as we start struggling, like when I lost my job, that is the time I'll use it, and if ever I do have extra money, I'll pay it back. Savings has always served a double purpose in my life: for emergencies and for things that I needed to buy because that is the purpose of money. I ain't holding myself back from touching it if I really need it.

I'm trying not to touch the money I save unless there is an urgent need. That's solely for the sake of my future later and I'm willing to use old things that are still good and not buy new things and that's only because I can have more savings.

But I was once in a very urgent situation where I needed money and was forced to use my savings to fulfill it. And when I have money again, I return the amount I used before and with a little extra money in my savings.

There's no such thing as Untouchable savings because money is meant to be spent, it's just a matter of how and when you will spend.

In our society now, we are thought to save money, but IMO, we should save money for emergencies only, and other things that we find necessary to prepare for in the future. The rest of your money should go to investment, that if you want to achieve financial stability, and of course, you should not forget to reward yourself, as I said, money is meant to be spent.

Unfortunately I don't have that kind of saving, and honestly even my small investment would be touched or spend sometimes whenever there is an emergency.
If I would ever have a chance I want it to be an untouchable investment in crypto,
I love to achieve that kind of investment when I could just hold it for a long period of time and it wouldn't matter if the price goes down or up since I am aiming for the long run.

As much as I want not to touch my savings, there are really unexpected things that usually happen or necessities that I have to prioritize in case I lack the budget.
Now that everything is getting more expensive including our bills, there will be times that we have to seek help from our personal savings so instead of increasing it, it decreases in time.
What's important is we are sustaining our daily living and we are still trying our best to save which is a wise practice.

Somehow people speak a lot about inflation when speaking of savings. Savings can be stored in gold, bitcoin and other, so inflation is relevant in the sense that if too high economy in general goes badly, but you personal finances can be made resilient or even "antifragile" respect to your local currency.

No savings are "untouchable". They are there and you have control over them so "untouchable" is more of a state of mind. My humble advice for people who save is to figure out in advance under which circumstances would they use that money (severe illness, loosing the house, long term lack of income, hunger,...) and stick to the rule and do not make 100 times the decision of not using them.

I never heard a story before where people died of thirst in the desert carrying full water bottles with them. Wouldn't you eventually start drinking it before you die? I can understand that you would not drink all your water at once, but wouldn't you ration it at least so you survive the longest. Another point is that due to the heat isn't the water going to vaporise eventually so, you should better drink it before? And I remember reading that people stranded on sea would drink their own urine to survive longer, for that you would need to drink the water sooner. When it comes to life and death situation there is no point in trying to save for bad times, it's all about survival. In my opinion saving money is an important part of everyday's life. We don't know what is going to happen in the future, there could always be a big disaster like the earthquake in Turkey and Syria. Without any really savings we could be in deep trouble. Also don't we want to leave some money behind for our children? We all got money from our parents and grandparents, shouldn't we do the same and leave some of the money we have for the next generations? That is why I would never drain all my money without thinking about the rest of my family.

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.

If you do have other sources of income which wont be able to touch up your savings then its good but if you dont have and you are on a situation on which you do really need huge funds then you cant really be having any option but to get on what you had saved.This is one of the main sole purpose on why you are saving in the first place, there are really just people who cant just afford on spending their savings no matter what the cost but in my case i wont really be letting for it to happen which you do end up on regrets in case there's something happened which you do know that you do have money to be spend on.
So it do really varies on case to case basis.

Is it and what I only prepare for emergencies such as hospital fees or death costs is worthy of being called untouchable savings? because I have that and will only use the funds for emergencies as I said.

the pandemic that passed, gave me and my partner to allocate all the money we got to several parts, such as investments - daily necessities - paying debts - emergency savings. we will never know what other shocking events will happen in the future, what if we are happening the next pandemic that causes us to lose our jobs or something?

wise people always prepare themselves, nothing is comfortable in this world and the future is a mystery.

Well the example about buying a new car because someone deserves it is very different from refusing to drink water risking to die. I do indeed know a couple of very healthy people who always drink sufficient amounts of water, but they are driving a crappy car because they prefer to bunker their money.

One thing you mention is true: hiding money under your pillow in times of inflation isn't the smartest thing you can do, but spending your money on stuff that leaves you without cash in an emergency is probably even dumber. Depending on the usage of a car, I assume that a dollar is devaluing slower over time than a car that is used frequently (unless it is a fancy old timer or whatever, you know what I mean).

I guess everyone of us knows somebody who could afford a lot more things than they actually do. My grandparents were the best example for that I guess. They drove a car that was 20 years old or so and they always had the money to buy another one, but they didn't. Yet they had been living a healthy life with healthy food and lots of water. ;)

Now one argument against keeping an old car could be for security reasons. You are probably safer in a new car than in a 20 year old car. ;)

It is good to have emergency fund, such that when there is an emergency you will use the fund. But it is very bad that one will be dying of hunger and unable to pay his rent yet he has an emergency fund somewhere waiting for an emergency to happen. They will keep waiting till they die without living a comfortable life.
Some still have untouchable fund and yet go borrowing to accomplish a project. I think it is a bad idea.

When I was a kid, I didn't understand why some people say they have no money or have very little money when there are soon obvious signs that it's not true or when others claim it's not true. Eventually, as I grew up and started saving money and looking more closely at other people, I realized a thing I call "money that isn't there". It's the sort of funds a person has but never accounts for, often even in front of themselves. It's money which you have, but you say and sort of mean that you don't because that money is not something you allow yourself to use. I get this concept, I understand why people do that. Occasionally, I tried this sort of stuff myself, but in my case I usually end up using this money after all when a big moment comes. Once this big moment was a decision to buy VR, once it was to cover visa expenses to go study abroad.
I don't regret spending money that's kind of there as untouchable savings when the moment feels right. But I also feel way more comfortable having some extra without spending it at all times, just in case I ever need it. Not a lot, just maybe a month or two worth of expenses. I think that's reasonable, but not using it when there's an emergency or a really good opportunity is IMO wrong, irrational. And needless to say, I've never done what the op mentioned, such as cutting back on essential food while having money. Basic expenses come first, savings come second.

I think the emergency fund is part of the untouched savings which aims for possibilities that have not yet happened so that we can overcome them with the emergency fund. I think what you mentioned includes that classification.
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.

I would guess that it could be considered untouchable considering there is nothing more important in life than health and death. If you do not spend it outside of that, more often than not you are going to save it for a long time, I should know because I spent nearly all of my investment money on health related stuff.

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.

No matter how much savings we have, eventually it will be used. But the intent of this topic may not be used to meet needs and if you read the tweet, it emphasizes more on how we manage our savings to become a business, or passive income which makes us get money that is even much bigger than the savings that we start before. but most people are afraid to use it, so that person likens "a person dies in the desert while carrying many bottles full of water".

But I always have something called untouchable saving, which means it's really special savings for emergencies. and we all have to remember that having untouchable savings is especially important for unpredictable emergencies.

There is a big difference between whether you have a family or not. Family is very important, but on the way to building up a good deposit, this is a huge pit. Fixed expenses that appear unexpectedly, that's what accompanies every family man. And if you try to save money and try not to touch them, then it becomes much harder if you have a family, especially children. Nevertheless, there are many ways to earn money in the script, you just need to find the strength and time. And motivation is enough for this, because what motivates you to move forward if not family? :)

I can say that I have it but it's in the form of bitcoin. I'm sure that everybody feels like that when we don't really want to spend bitcoin because we have a common goal and that's to hold long term.

But time shall come that even if we're solid with that decision of holding and untouching it, we will have to spend and use it to something that's very important.

Even if we don't like the selling price, it should be done.

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.

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.

I remember reading something similar to this long ago and it is part of our psychology, for example it is known that if you buy your groceries when you are hungry you will not only buy more than what you need but you will buy food with higher calories, so it would not surprise me if what you mention also applied to money, however in my opinion the only instance in which you can allow yourself to use all your savings is when you buy a house, as they are very expensive, but other than that we need to always keep some cash in hand in the case of an emergency.

Savings are supposed to be spent especially after our retirement so it really depends on what kind of financial backup we have in our family and ourselves to have such savings. I am not that old to think about it but I do save and I will spend it for sure whenever it is necessary for me to spend money. BTW don't let that paper to become waste so just convert it into something which gives returns forever.

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.

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.

That twitter post is funny.  I don't actually belive it, but I understand the point they are trying to get across.  The way I see it, you should save more than most, but don't be afraid to live your life, at least a little bit.  It of course all comes down to whether you're on track for retirement or not...that should then dictate if you need to ramp up saving, or can have a little more fun and life and spend a bit more money, or be a bit more risky with it. 

It's all about diversification and being on track for the day you decide to "hang it up".  Do you calculations, make a plan and stick to it.

I also plan like that, because the original purpose of the funds was for health or misfortune, so when the untouchable saving is still there, even though it has been used a little for health costs or misfortune, I will pass it on to my children, not only the money but also their mindset. fatherly continues to allocate funds to several sections including health and investment.


what you say here is correct, because the purpose of the money is for emergency expenses so when a new bag or new shoes appear, I won't buy all of it using that savings LOL. sometimes it's hard to manage, but I'm sure it's all a process of learning and honing my financial management skills.

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.

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.

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.

Definitely.

It would be put into waste if you didn't used that savings for that important matter that you or your family needs. Yes, it might be your savings that you've been working for hardly.

But it is something else when there are some important matters for which your savings will be put into good use. And yet, it's a different story when someone who has been abusing you financially because you've been a great help to them and almost don't decline when someone asks you for help.

Convenience and satisfaction is when someone can eat and not starve just because he is keeping his savings. Because for me things are a little illogical when someone is willing to starve so they don't want their savings to run out, but imagine if they were sick as a result of holding on to that hunger. Wouldn't that also drain more of his savings than would be used to buy food?

So if you can still eat using a little savings, it's better not to hold back hunger because it's really not good for your body's health. That's why it's better to keep eating even if you have to sacrifice a little savings because on another occasion, everyone can still save again to realize their dreams in a healthier condition.

right, life now is clearly going to take us where we are going, because everything is determined when we start to be able to prepare ourselves by saving as best we can, so that when we are no longer working and have no productive activities, we still have savings to make further plans so that doesn't make us miserable.
saving from some of the work from an early age, when you start working and produce, of course it is something that must be done because it is a commendable action and of course it does not sacrifice our lives.
because this is part of everyday life that we have continued to do so far.

This totally made sense to me. Indeed, untouchable savings is risky based on my own understanding of things. It is like a throw away treasure, not much different from the money you gambled anyway. I've seen lots of influencers claiming to be financial advisers on social media platforms telling the viewers to save and invest as much as possible, and mostly some of them wouldn't clarify the difference between these two. It is somehow related to the thread I created about a week ago that talks about saving too here (https://bitcointalk.org/index.php?topic=5438691.0). Lots of relevant posts there shared different opinions on saving, although both topics had different direction it also leads to which kind of investment, I should chose depending on my situation.

Based on what you've advised on allowing a trusted person to take care of that savings, it could also be considered as inheritance money, if it is intended to be untouched or reserved. But in the end, it's just a matter of how you spread your money, and which is which for your own or your family's benefit.

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

There are really moments when we need to sacrifice things like food or other things so that we can buy other things or fulfill our dreams, but it is not good that you are already affected mostly by your health just because you want to save. We save money for good, but if there are other circumstances, we should use it. Though I don't have savings right now as we used it earlier this month for an emergency, which is not really intended for that, I touch it as I need it.

only spending money on things you really need is a basic principle of frugality. do not spend money on a pleasure that we do not really need. except within a certain time. because sometimes we need a pleasure to relieve stress in our lives. this pattern can make us to have more savings. and we will have untouched savings. or we have double savings. for the unexpected and also for future investment. and usually what is always left untouched is the savings in the form of investments planned for our future.
and i have it too.

saving does not have to be in large amounts. but little by little much better. because we can still enjoy life properly.

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.

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.

Did he say that? I think he didn't, and savings is different from investment AFAIK but is there really such thing as untouchable savings? Then for what if we are saving and then we won't touch it? Better it will be called it as a collection, if so. The true purpose of saving is for a person to have something to use when he is lacking or out of money but I think it's wrong if we will use a portion of our savings to buy more cryptos or to invest on any other assets.

There must be a money that is set aside for them. Emotions or our own actions can be controlled but price isn't. Why will you control it anyway? Manipulating a coin is a bad practice.

As much as possible I try to save in banks that offers annual or monthly interest when you save in them but there are instances that I uses it more in trading thinking that somehow the money can get better profit when traded since it seems to be sleeping only in banks when there are ways to make them grow. What I do now is have an insurance for health and save some usdt if emergency occurs. Though it will be better if we will still have savings in bank or in cash just in case no one in the family knows to access the account.

Untouchable savings are very rare. It is almost impossible to have untouchable savings when you take into consideration your circumstances, the environment, the economy, and the society you are in at the moment. Almost everybody would want to have untouchable savings, but it is very difficult to achieve. Spending what is left after saving is one of the good ways to have untouchable savings. Having untouchable savings in a society where there is inflation is very difficult. Untouchable savings, on the other hand, help to reduce extravagant spending by providing a sense of caution about needs and wants.

It is good to have emergency savings and it is bad to spend from it when there is no emergency. That is why it is called an emergency savings. But it is wrong to have an emergency savings and die of hunger or not able to pay rent or hospital bills. You must first leave fine before you begin to say of untouchable savings.

I do save for my family’s future and some funds too that will cover unexpected expenses in the coming days, months or years. When I say for my family’s future, that also includes some funds for potential investments as it can grow my savings if it succeed afterwards. But one thing is certain, all my savings have their own certain goals as i don’t intend to save just to make it untouchable for life.

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 for the later. Interesting
I think one should not save more than what is needed. Have some saving but don't be rigid so that you need them and you won't use them and then you die and other people would have party on it.

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.

That is correct - one should have a good present and save a bit for the recent future. Life is so unpredictable.
Take for instance the example of all the natural disaster which make people homeless in a jiffy. Save but dont starve yourself. I like what you said!

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.

Saving is very necessary but it depends the level of your income, some people have  service during the time of their work and still looks good, one thing is the time to calculate your self and know the particular amount of funds that should go to your service and it will not worry you more during the time of service. But I'm not support of those people who directly continue save their money and be suffering, at least you have to plan yourself not really saving everything you earn in your business without looking nice in appearance

Well people around you that are asking you for money are like a kind of parasite that feeds on you. Imagine having to support 5-10 adults with 1 salary. Maybe it's doable in the 3rd world if you have a US salary but if it's any other configuration, it's really going to mess up your finances.

The story apply to almost everybody in the forum and not only few but a large number of that. What happened to the dead bodies is still happening to many people. Some people have enough money but they are not using it some time all because they want to use it for another purpose so even a family member is in need of urgent money to solve the problem they would not release it to the person.

Let me also give you a story. A man was very sick to the extend he could not talk again and finally the man died. And after some months the bank the man was using got the information of his dead and they wrote a letter to the family that the man has $300,000 in his bank account so they sold come and withdraw the money and everyone was amazed. And the first son who happened to be the next of kin did all the necessary documents and the money was transferred to the boy account. All his hustles was taken by another just like the dead bodies in the desert, the bottle water was taken by another passerby.

Many people are hidden their seed phrase to their love ones and when they died all the money is gone.

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.

Yes, I have also heard many people say the same thing as you experienced. If we explore further, we will find a fact that it is easier to collect money every month if we have dependents that we have to pay, for example, we have vehicle payments or something else. Isn't that the same thing? What I mean is when we have a burden, then we will force to do it. So I agree with you that making savings a burden if we find it very difficult when just saving alone, we can join a cooperative or something like that so that we feel we have responsibilities that we have to do. But don't force yourself, because saving is setting aside money that we can set aside.

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.

Sooner or later you would really be realizing that having a savings would be much needed or crucial unless if you do have lots of income source then it wont really be that a problem or having that huge inherited money or simply being rich then this wont be an issue.For those who do earn income on standard way of living then savings is really that important because we dont know on what are the things on ahead.
We would really be might able to encounter problems in the future which would be needing huge funds but hopefully now but we know that we
cant really able to predict on whats ahead.

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.

True words, we live only once. What we have earned and saved couldn't help in our need. Then what for is the savings and earnings. At the time of emergency the untouchable fund gets utilised. I don't know how I'm moving forward, because I don't have any savings to meet up unexpected emergency situation. Somehow things were getting managed with what I earn.

Looking upon different threads on savings and investment I prefer to allocate something aside for savings, but I wasn't able to do it. Hope I'll build my saving ability then onwards. According to me everyone should know and have something as savings.

If someone doesn't know what savings are even good for because they think that you live only once and should therefore consume what you earn, there really is one very good, simple reason:

"Stress makes life’s clock tick faster — chilling out slows it down" (https://news.yale.edu/2021/12/06/stress-makes-lifes-clock-tick-faster-chilling-out-slows-it-down)

That quote is from yale.edu. They have researched the impact of stress on the epigenetic clock. That is definitely worth reading, and I assume we all agree that knowing you are financially safe when some accident or unexpected event happens certainly allows people to live life with less stress. The pressure someone feels when the lifestyle is all about consuming today whatever you earn and that something bad happens and you can't afford your bills anymore can be enormous. It can also snowball because savings have a one time effect. You use it, pay for the unexpected cost, and keep going. If you don't have savings and can't pay almost any of your bills, that might get you into a multitude of trouble. Can't repair your car, can't drive to your job, lose your job, can't pay your rent, lose your apartment, can't get another job without an apartment, etc... This is the snowball effect and savings can save you from a one time event turning into a multifaceted problem.

I took it to the extreme in my example but I think it gets the message across pretty well. If you have 2,000 USD in savings and you need them for a single event, those 2,000 USD are gone and you might think it is a 2,000 USD loss. But the intrinsic value (real value) of that 2,000 USD "investment" is perhaps much higher than the nominal value.

This totally depends on person and their situations. You can use your untouchable savings funds, but you need to make sure you don't depend on it totally. There are some situations where you don't have enough and you just need a little bit. You can cover it from your savings, and it won't make that much different. So in this case, you can use it. At least that's what I think. If you are earning enough to cover up your daily life expenses and can also save for the future, then that's a different story. But if you are not making much, then you have no choice but to use it at some point.

As long you do still other ways and methods then as much as possible then you should avoid on spending up your savings on which you would really be using it as your last method or way on solving it out.
Whether its up to yours if you would be taking up some loan or would really be just using make use of your savings.This is what intented to be used for and there's no sense on saving up money if you cant
really just make use of it.It is really just that a wrong mindset to have that kind of believing that trying out to risk something just because you cant just touch up your savings.
it doesnt really make no sense if you do have this kind of approach and decision making and sticking into that dumb idea on mind.

Maybe you should prolly tighten up your hands a bit, not to the extent of depriving your loved ones of really important things, but rather to the extent of ensuring that you have something saved up for yourself and your future. Quite a lot of adults have responsibilities (only but a few exceptions), but i think one should not let their responsibilities deprive them of a good life after retirement, and a solid emergency fund.

Having said that, sometimes being selfish isn't really a bad thing per se, if you are not selfish, you might actually be giving out far more than you should, which would definitely take its toll on your expenses. I'd rather be a little bit selfish than exhaust my income on others and turn out to be dependent on someone in the long run.

Unfortunately I don't have untouchable savings because every cents has their own goals and I think it would look stupid if there were people who still had savings but couldn't even enjoy life properly because they prefer to keep saving it for things that may not even happen and it will look even more stupid if the amount is big and can be used for an activity that is more profitable than just saving it.

There is no doubt about that. If you have no choice, well, then you obviously have no choice but to use it. :P

My response was to the idea that we only live once and therefore should spend whatever we earn right away in order to appreciate life. You are talking about a different story that I completely agree with. Not everyone is in the position to even be able to save money and that is stressful in and of itself. But if someone lives a life without stress not saving any money whatsoever despite being able to save and then gets into deep trouble, that's bad and a lifestyle I would not recommend. Being able to save is a privilege. Being able to spend a lot is also a privilege, but it shouldn't abused to the extent that you forego the privilege of being able to save. :) Hope I made my point understandable.

It's exceedingly rare to have savings that are untouchable in any form. Given the current state of affairs affecting the environment, the economy, and society, it is virtually impossible to have savings that cannot be accessed in an emergency in today's world. Although though it is a prevalent assumption that holding investments for a long time can increase profits, unforeseeable circumstances might still occur and make it difficult to maintain an untouchable savings account open.

That's hell I can imagine and I would consider moving out by my own and just live on my own. I live in a 3rd world country, and this is quite common to some families and thankfully mine was not like that. Some families would expect their breadwinners to be the only one that works hard and supports them financially and this is why it is not common for some people in 3rd world country to be rich.
It was already discussion for quite some time and it is saddening that it is still happening to this day. I hate traditions sometimes.

I both agree with you but also disagree with you, depending on how people live. If I am saving and putting money aside and not touching it and yet I still live a decent life, then it's a good decision. If I am saving and I am very much poor, then it is still a good decision because it could suddenly go up and make me get out of that poverty, spending just a little bit won't help, but investing a lot and getting rich later on could.

However, if you are like me, neither in poverty nor rich, and have some money, the nit would be a smart idea to sell some eventually and live a better life instead, could make up the difference between happy life and boring life.

Is it really possible to have untouchable money? I believe that everyone who saves does so for future purposes, such as saving to buy something that one's salary cannot afford at the time or don't have much money to buy it once. And if this is the case, I'm not sure why I can't use the money whenever I have a problem to salve. The only condition is that you should return any money you take from savings account; otherwise, you can't continue to afford money to buy dream things. As for me, I have a savings account for emergencies, but I wouldn't call it an untouchable account because I can use it whenever I want, but not for anything that doesn't have compelling reasons.

If I wanted, I could spend more money than I ever spent overnight. But I didn't do that, not because I was stingy, I preferred to save money to meet other needs.
Unexpected things always happen in our lives, having an emergency fund is a solution to overcome life's problems that can come to us at any time. The wheel of life always turns, sometimes we are above, sometimes we are below. Life is full of uncertainties, you might need sudden funds for emergency medical needs, home renovations, unexpected trips and moving domiciles.
An emergency fund can provide some peace of mind, since I actively set aside a few dollars a week, it really helps me build a financial reserve.

i don't have untouchable saving, by the way untouchable saving sounds really old school imo!!  My grandmother used to be known as a very stingy and thrifty person, and she rarely even gave money to her children and grandchildren. As a result, when she died, all the money she collected was taken by her children ^{(one of them was my father)}, since then i think people who save too much money ^{(untouchable saving category)}, are very stingy with themselves and others just do things in vain. 

I couldn't agree more.

Untouched savings for me is the emergency fund, that will only be spend when an emergency happens, obviously, but that doesn't mean that I will not have any more money in my wallet or bank account. While untouchable savings from me I believe is the savings that we think that is not worthy to be spend on anything because it could be use in something more worthy in the future but the reality is that the owner don't want to spend it, like it is just a display in its storage.

What you describe is something I can relate to very well. But in my opinion you are describing something that is quite common for older people. They tend to save more than the younger generations do today. In relative terms of course to their income. A bad consequence that often occurs when older people save a lot of money or keep valuable assets like jewelry or art is that children and even grand children might end up fighting for it and not trust each other. That is particularly the case when there is no well defined last will. That doesn't mean saving is bad because people could be fighting about it. It rather means that with lots of savings still comes some responsibility.

When you watch someone saving so much and they just stay home for the sake of saving more without exploring the world or having a hobby, then I am totally with you in that they are too stingy with themselves. It is almost sad to see if someone has the possibility to live a great life but psychologically feel the urge to restrict themselves. It shouldn't be that way, but then again if it helps those people living a life without stress and feeling comfortable, I guess there isn't really anything you can blame them for.

yes, It applies to me very well and lot of middle class families too,
we save money for our hard times(like covid pendamic), children's education, health etc.
sometimes saved money helps but sometimes that money being invested by our next generations

i'm sure people who, as i said, have excessive fear because they (old people over 70 years old) have gone through difficult times during wars and economic revolutions in their respective countries so the trauma made them try hard to collect as much money and property as possible so that in the future he/her and his/her family will not have economic difficulties, but the long-term effects are worse because now times have changed, even though there is a potential for war or a pandemic, it won't last long.  i emphatically say that saving is very important and must be owned by everyone, but hoarding money and assets without ever touching or using it is a very bad thing.

Before there was covid, people saved for health and to continue their children's education and never thought about covid. And when there is Covid, it will be very difficult for anyone to save at that time because access to leaving the house is limited so that all items become expensive at that time. So, when you and your family have experienced how difficult the covid period was, of course there are some people who say that they are saving for covid, even though that is really not the right thing to say because everyone can save for health matters and also for a better future.

Likewise with the next generation who start using money from their family's savings for investment or the like, I think this is a very natural thing to do because when the leader in your family is getting old and can't afford to work anymore, it won't be wrong if that generation then the family uses the money for investment in order to get more profit.

I have started to save some earnings. And not touching them at all because I have some goals set for life.
I wish I should have done this earlier in my life.
But then again - it's never too late.

Great idea. There’s no chance that our savings will remain untouchable for the rest of our lives. We save so we can use it in the future, so meaning we save so we can spend it in the future and not to keep it untouchable. However, it’s not that useful if we insist saving fiat for life as it’s value will only depreciate in time. Better shift to bitcoin and invest and keep it for as long as you want, at least the profits are very huge by then.

Unless if you do have lots of source of income which your savings stash couldnt really be touched up completely or would be used since it would really replenish out.This is case to case basis only because not all would really be that having the opportunity to have the chance on getting those sources but rather we are really just basing up on our monthly earning.This is why its really that hard not to snip out with those savings
when you are in need, but wait? whats the main purpose of savings after all if you arent gonna make use of it? This would be your last resort if you dont have any sources that you could make use into.
This is why you should really obliged yourself on saving up money because we dont know on what would happen in years to come or situation or whatever.

Lucky are those who have untouched savings. I have seen on TV there was man in Turkey who owned 78 KG of gold - and even after the building was destroyed the police found the owner and handed his gold to him.
There is always a benefit of saving - but along side we should always pray god to save us from bad times and bad people.

Probably, people who have untouched savings prefer to stay low key and do not brag much about their achievements. So we can’t tell exactly as who are these lucky people as they tend to look poor than to make people believe that they are rich and wealthy, with all those untouched savings reserved for their future. But tbh, people only save because they have goals in the future, and that savings are still going to be spend when the perfect amount is being reached.

I would say there is a difference between money (if you refer to fiat currencies) and assets when it comes to hiding it under your pillow until you die. If you hold assets like art or perhaps gold, or Bitcoin for that matter ;), the bad part in terms of inflation doesn't have as much influence on the overall equation. At least it is not "a very bad thing" anymore, as you put it. Some just feel comfortable owning stuff without using it.

Hiding a ton of cash in your basement for decades is bad because you as an individual will suffer from devaluation through inflation and you also drain that money from circulation, making less funds available for investment, which in turn incentivizes banks to print more, thereby devaluing whatever you have in your basement.

But honestly I think that many of the older people are literate enough to understand the full consequences. But I think that will change now with the next generations. Saving cash was the first choice for many people for a very long time to build up a savings portfolio. When I just look around me and observe the younger people from today, there are so many more saving some money in the form of stocks than there were 15 or even 20 years ago.

Now fiat currencies can also make sense when you do a certain minimum of investigation and hold maybe some Swiss Francs, not just cash in your home currency for the sake of saving.

People are really that different even we arent talking about savings or something like that on which there are fellas who do really love to brag about on how much they do hold or how much they do own and trying out to impress anyone who surrounds him which it is really somewhat an irritating kind or type of people which we do have in the world today.It is really much better if you are really that lowkey and
never been trying out to show on how much you do own or having.

This is why sometimes it do make people been put up into dangerous situations or conditions because it is really just on the result on what they are really that tending to share
up with anyone.

I think it's a yes, I've just heard it from a known tycoon in my country but he considers that untouchable saving as his investment. It is like he'll place his money on something that he wouldn't touch for how many years and let it be there whether it will grow or not.
And that's why he thinks that it's an untouchable savings because if it grows then it's worth it for him but if it's not then, that money is what he can afford to lose even if we talk about millions in $ as he's really into investing.

Saving does not necessarily mean that you have to save to make it untouchable in the future, instead save so you can have something to spend in the future. And I think a lot are doing this, even preparing theirselves so they won’t have to experience financial problems in the future. However, if you only save to make it untouchable for the rest of your life, that is an absurd mindset, you can’t bring money when you are already in your grave so save now and benefit in it in the future.

i'd say depriving ourselves from some luxury things aren't even a bad idea, as long as your financial circumstance are still that of something that could get drained by having luxury things getting deprived of luxury things is fine.
only when your financial situation is sustaining, like when you buy some luxury things you still have steady income to made it up then that's gonna seems like you're just wasting your fun away for the sake of saving some meaningless money otherwise if you are still in such unsustaining financial condition where if you buy luxury things you'd lost all your money and start away from scratch then that's the time you should save more.
it's quite simple, just see whether you still could make the money back in short term after you spending it for luxury.

what you do is exactly the same as the habits that I also apply in my life in managing finances. I personally refrain from spending money on things I don't really need. i only buy what i need. because if we always obey our desires, we always want to buy everything we want, then no matter how much money we have, it will run out. because desire always comes without stopping.

saving, investing and setting aside money for emergency funds is a very wise thing in financial management. because as you said that sometimes we don't know unexpected needs will come. and having an emergency will make us less worried because we already have preparations.

In spending money, must be able to distinguish between needs and wants. Everyone has a need to survive, while desire is something that one wants to have, but if it doesn't work, it won't have a big effect on survival. Every human being has characteristics and feelings that are always lacking, because of that humans tend to want to adapt to the lifestyle around their environment.
Improving the quality of life is also very influential in managing finances, the more facilities you want to have, the more needs that need to be met. To anticipate unexpected emergencies, you need to have an emergency fund as a preparation so you don't have to look for a loan when you need money suddenly.

There is no point in saving if you don't spend it when an emergency arises; it is like you are just saving it for collection. I haven't encountered people who have been saving money and don't touch it. Most of us have goals like holding bitcoin and not touching it for 2 years or more, or if you have an emergency because that's the purpose of it, having something to spend when it's winter rather than having a loan or being in debt.

While I completely comprehend the essence of your statement, allow me to offer a contradictory perspective. Isn't it somewhat ironic that we devote ourselves to amassing wealth only to fret over using it when it is most needed? It's akin to hoarding the finest delicacies in your pantry, never to indulge in them out of fear that they will be exhausted. Granted, establishing a fiscal cushion is essential, but we must not disregard the significance of savoring the results of our toil intermittently. Life is fleeting, and we never know what obstacles may come our way. Therefore, I recommend living lavishly while being cautious with expenditures!

If insurance can be classified on untouchable savings, then yeah I have that, health insurance to be more precise. That can't be spent on other emergency needs right?

One should not place too much worry on anything far away, limit it to today and the next few days. The economy will always be a matter of life at every level, people have their own problems, and in fact they'll find solutions slowly when adapting to them. That doesn't mean you don't have a financial plan either.

Yeah, I don't think that count as a untouchable savings as for me it's some money, a buffer that you have in your wallet that you can tap immediately if there is some emergency in your end.

And this bucket should be at least 6 months or so, and that in cases of some extremes happen in your life, you can still sustain it without having to go through a lot of and you still have some money to bring food in the table for your family.

Well, I can relate to what you're saying here because I also experienced to not spend my money just because I want to save. Currently I have savings but I can't say it is untouchable because that's what I can count on incase emergency happened. Currently I deprive myself to buy a new phone even the one that i'm using already need a replacement. But because it is still working, I opted not to buy a new one until it is completely broken. I don't want to spend if it's not really necessary especially if you already have your own family. I want to save for rainy days since we're not certain how long we can able to work to provide for our family's needs.

Anyway, there are people who have untouchable savings that they can pass on to their next generation, and they're the well-off.

Yes, that shouldn't have happened, I mean we have savings that we have prepared for a very urgent situation, and when that situation comes and we don't even touch it at all and prefer to borrow, that's not wise in my opinion. So what will we use the money we have set aside for? I mean what kind of urgent need to be able to use the savings. Maybe when we think very dearly when using our savings, I also often experience this because it is a form of sacrifice for us to always set aside money for emergencies that we might experience.

I remember a funny statement my friend will always make some years back. He will say, "Between me and my savings, I don't know who is saving who." Why? Why? Because he tried so hard to save, he ends up using the little he saves, and he even confesses that he doesn't remember he is using his savings until he has spent the money on something before he realized he has done so. But I understand one thing about his savings habit: you can be disciplined in times of savings, but definitely you will have some pressing needs that will require you to spend the savings, unless for sure that person has a steady source of income. I saved through some of my college years; even in my university days, I tried so hard to save, but I only saved to the extent that there was still a pressing need to spend the savings. All I ended up saying to myself was, I will replace the savings when I have extra cash," but that never happened.

Correct. If we want to enjoy life then what you say is right. because if we think too much then our life sometimes becomes so heavy and sometimes excessive fear becomes present in our life. but I personally always take the time to plan for the long term. and after that i just executed what was planned. although sometimes unexpected things arise. but during our daily activities we really only have to focus on what was done that day. and after finishing work then we start planning for tomorrow.

but in finance we still have to plan for the future. but too focused on the future without enjoying the day being lived is the wrong thing to do. because we live to be happy. so being happy every day is a good thing. although it should be within healthy limits.

Having a plan can help you prepare for unexpected expenses and achieve your long-term financial goals.
Keep always in mind that saving money is an important aspect of financial planning and can provide a safety net for unexpected expenses and emergencies. It is also possible to find a balance between saving for the future and enjoying the present. It is true that some people may be overly frugal or stingy --but it is also possible for people to save money while still being generous and living a fulfilling life. It is up to each individual to determine their own approach to money management and find a balance that works for them. So for me, it is ideal to have money left for future emergencies.

I was never good with my finances
And I a very upset for all that I did to myself.
I wish I would have had some saving - but now I tried to save little.

That’s crazy tweet but it has got millions of hearts already. I mean it’s such true fact that if you hold on to something too much but do not avail the benefits at the right time then it’s next to nothing in the future. It’s always better to have secured future but not over the heads so as to go useless about it. I’m having savings mostly in the investment funds. SIP and stuff.



Well everyone say they have perfect plans but no one really does in the reality. There could be horrible incidences in our lives or there could be occasions, surprises where we can not argue but to spend our money without any reasons. That way sometimes we may end up with no savings at all. Once can always plan automated payments to schemes, or may be investments into real estate etc. That could be best way to have untouchable savings.

This is the same and often happens in my country, many rich people but choose to eat cheap and limit consumption from good things because they think as wasteful, they finally die and the property left behind is only captured by the heirs and of course they regret because they do not enjoy the wealth of work Hard as healthy, live and young.