Bitcoin Forum

Everyone who wants to create a fortune has a long way to go, first we need to learn how to earn, save and then learn how to make money work for us. Someone creates a business for this, someone is looking for investments, but the essence remains the same, we earn, save and increase our capital.

I'm wondering how long we'll need to do the savings? Who has already reached any significant level, are you still saving, or you can afford to live without any financial restrictions?

I have just started taking steps towards achieving my well-being and it is still very difficult for me to understand how I can achieve my goal and become a wealthy person. The thought that I will have to save for a long time now seems difficult, will it not tire me, will I be able to go this way. I already have some bitcoin and I like the feeling that I own something of value. When I manage to save some money, I buy again, but this is not permanent because I do not have a permanent job. Sometimes I want to buy new sneakers, and I decide to buy or postpone, sometimes I doubt if I'm doing the right thing, maybe I should provide myself with everything I need and save only what remains, if left.

Probably now I am thinking that I would not like to save all the time, I would like to reach the level at which I would be a wealthy person and I would not have to worry about money, but I have no idea when I can achieve this.

The speed of converting what you save into money generates for you what makes you rich. Saving alone without financial knowledge is not enough, especially if you are from a country with a government that does not manage financial policies well, which will cause excessive inflation and an increase in real estate prices that make investment a dangerous thing.

• If you have a commercial background, with a little risk, you can make a quick profit.
• Bitcoin is one of the shortest paths if you are planning a long-term investment for more than 10 years.

Saving is like a training that you should be responsible and have a discipline with how you handle your money. You won't be wealthy by just saving because that will be defeated by inflation.

But instead, start investing or create a business that will give you stable income and that's how you can enjoy being wealthy. As you save, your money is in the bank and what's next? You'll spend it for those wants that you won't necessarily need eventually.

It's okay to treat yourself but make a principle that it's not going to be that much for you like buy those sneakers that you want.

Copy what the rich people do, they use money to make another money. That's why investing is going to make you wealthier and will give you a lot of freedom.

saving is very important because not all the time that our body is strong sometimes we got sick and it needs medication and medication needs money we need to save for emergency reason because we dint know when we can face the emergency situation saving money is not only for wealthy person we can also save even if we are in the middle class or even we are poor we can still save if we wanted to save.

You have a point if we are still strong we need to save money so that if we become weak we can have the money to pay our expenses, there are big advantages when we do savings because if there is an emergency and we need funds we don't need to get a loan to pay the expenses because we have our own savings, getting a loan for an emergency is a very worst part or option  because loan has an interest and you need to pay it, while if you have saving you can you can avoid it.

I guess the most important thing that will go against us is time. If we will have the knowledge that we have right now as far as generating wealth, they we could be rich when we are young. But the thing is that it takes some time and understanding to do it, so it's hard to achieved it. Unless when we got our first job and learn to save, then maybe there will be a point in time that the money that we save throughout the years might be enough for us. So start investing at a young age, and if you missed the boat then maybe with your experience and knowledge make the right decision to increase your wealth overtime, whether thru investing or putting a business.

You are no longer saving but doing business if you already have a level of wealth. For people who have reached this level, saving is no longer important to them, because what they are after when they get to that level are investments and business. Savings are widely used by middle-income people, because doing business or investing requires large capital to start, at least that's what happened in the previous perspective?

1. Take chances in bitcoin and you will see the results.
2. Aspects of purchase can be set in any amount.
3. Can maintain investment value in the long term.

Three points are enough to formulate why everyone should consider investing in bitcoin, instead of trying to invest in other forms. The presence of bitcoin can be used by anyone without exception, both the middle class and certain groups at different financial levels?

Being able to afford what you want is what is called wealth to me. I don’t go with the ideology of just saving and not saving on ones selves. There are people that invest or save at the detriment of even their health. As long as there’s death lurking around no matter what one saves he might have to leave some around. Some of these left over funds are sometimes not even used by ones kins.

It is hard to reach a certain age where feels comfortable of not getting more money. So you can’t be that wealthy because even those wealthy people worried about accumulating more either to top the list wealthiest individuals.

Nonetheless it is important to save at our youthful age just to have a comfortable old age

If ever i would come into a point on which i did able to make money and reach out on a condition on which im that rich or financially free, then i wont really still that be skipping out on making up savings because

we know that no matter how rich you are and if some shitty situations and scenarios that could happen which would be affecting your overall finances then you would be fucked up if you dont have that kind of savings just because you are confident enough not to have one because you do have in mind that you could really still able to survive and sustain even if you dont have the money.This is why
its up to you if you do look on this way or not but of course if you are really that rich then it wont be shocking that most people would be having this kind of mindset.

When it comes to saving when you're making money, I once read that when you make money and invest it, you're putting it to work; when you make money and save it, you're putting it to rest.

This alone causes me to rethink how I'll spend and save my money when I get some. Everyone wants to save for the future, but when you save money, it will remain that amount for many years, with the only change being inflation. However, putting it to work could earn you more money, but it could also be risky because you could lose it all while putting it to work again.

These are, in my opinion facts, and are too good to be false. So just do what will be the best and hope for the best.

You cant blame them on having this kind of approach specially if they do know that they do have lots of income sources on which they are really that not minding on what money that they would have tomorrow because they do know that there's something that they could harvest or expect on.

Its true that savings does plays a great role when it comes to financial back ups and conditions on which we might really be able to make use of it but when you are that wealthy
then its unlikely you would really be having  your own savings which same as you said.They could buy things all they want on spot, they could cash and dont take up loans whenever
they are interested on something.

I believe a person cannot become wealthy without disciplining oneself to cut expenses and save money. The question is “are you saving wisely”. Keeping aside a certain amount every week/month in the bank isn’t going to change your financial situation. The money is just sitting there idle, the banks do not even give reasonable interests on savings account. In my case, I live in Nigeria but I don’t save my money in my local currency instead I save my money in usd. This helps me double my savings faster when the naira falls against the US dollar. I’m saving but at the same time it is an investment.

also, how i look at this scenario is, as long as you are living decently, without debts and have your own abode- that's more then enough to be grateful with your life. if you will be pushing yourself to be rich in terms of money, that would be a stressful one. ask yourself, why do you want to be wealthy? if you can buy what you need and you can eat what you want, what more can you ask for in this life? being wealthy has a lot of things to take care of.
but if you have the ability to store assets, why not tangible assets?

I'll give you some advice based on what my parents did. Don't save up in fiat money, save up in real assets. Buy land, bitcoin, collectibles. You can buy comic books, coins, gold, whatever you like. All of this is better than fiat money.
Think of fiat money like a liquid asset that you can exchange at any second for anything because it's accepted everywhere but this feature comes with a tax which is called inflation.
You pay every day for the ability to exchange fast. Other things don't have this tax. Even real estate that is technically taxed is still better than fiat money because property is taxed but gains value with inflation, so as long as the tax is lower per year than inflation, you're gaining value on everything you hold.
My parents were saving money all their lives and they also bought some houses and apartments. 30 years later their other properties are worth more but their savings are worth much less.

Saving alone doesn't make you wealthy in a sense where you don't need to worry about the things that you want to obtain or financial restrictions as per your term. You need to find a business or an investment where the money will work for you and generates a growing income stream as time passes by.
No matter how you save, when you retire, all those savings will be spent and those funds you've spent has no way of coming back especially when you spend it to things that the value depreciates over time, like cars and gadgets.
So, as early as now, you should start planning your first step on the investments that will give you unlimited income stream if you want to become wealthy in the next coming years.

exactly. There's this destructive notion from back in the day which still persists up until now that if you save, you'll become rich. Which is hardly the case nowadays, back then sure it would've worked stupendously but now? not so much. Saving as of this day and age seems to me as a form of securing your future for emergencies, not as a means for you to get profits from. How you are able to generate money from what you have lying around though is what would make you wealthy in the modern setting, to that I agree with you. Saving up assets is basically investing, so you're telling OP to invest his money on assets, not save them because if you SAVE, you are basically setting the proposition that it's for fiat, and you're doing it so you'll have money for when you need it. INVESTING on the other hand, is in this headspace where you are putting your money to work instead of you, so you EARN.

You cannot increase your capital by savings.  Bank savings interest only offset the depreciation of money due to inflation, thus it is not worth considering to save in banks just to increase our capital.  We need to invest. setup busines, let money works for us to produce more money.



You cannot become rich by saving money.  More or less that savings will be used either by buying stuff or in an emergency situation.  You need to invest when you have the capability.  Investment is what makes a person rich and gain financial freedom.  So if we are wealthy, we must invest either in creating a business or market investment and let our money works for us.

Learn how investment works and how passive income works, by this you don't need to save much money because you are able to create a money machine that can give your profit from time to time. Have a good business, or real estate they are the ones who pays good money passively.

Saving can be tiring as well, so in order to get out of that situation, better to invest more than to save. Learn more about crypto market I also believe that this can be a good place to have your investment, in time you can make a lot of profit where you can use to build your own passive income.

I had different moments in my life when the financial condition was both stable and not.One thing I can say for sure, it just doesn’t make sense to save money,it’s important to make it work for you.As for saving,this is a good habit,but it is also important that it does not go to extremes and cut your income in everything.It is important to set yourself a financial plan and clearly plan all future purchases,then you will have to save much less.

In my opinion, there is no definite final limit for saving because of course everyone's opinion will vary according to the conditions, we will stop saving when we die, of course. I think that we really have to do saving even though we are already rich.
Because for me saving is not only to think about my own needs but also to think about the needs of my family and children for them in the future.


If you want to be rich, of course you have to try hard to achieve it, there are many ways to get rich, we must be able to take advantage of every opportunity that exists to get wealth, not just doubting yourself and always worrying too much like that, it will make you pessimistic and eventually become lazy.


Remember Bitcoin can indeed help someone financially and even get rich but the most important thing is only if that person can really use it in the right way.


You don't need to think about when you will be able to achieve it, but what you have to do now is try hard to find every opportunity that exists and maybe it's better if you look for a permanent job first to be able to set aside some of your income to buy Bitcoin again and maybe you can set aside some also to open a business with great potential for profit.

Yes, I agree that saving is also necessary for emergency savings and meeting daily financial needs. But if the goal is to prepare finances in the future or in the long term. Bitcoin investment has the potential to provide greater benefits compared to saving in a bank. Because I think investing doesn't have to wait to be rich, to be rich we have to invest.

Both of these are actually equally important in managing finances. Saving helps us build emergency savings and meet short-term financial needs, while investing helps you prepare your finances for a more distant future.

In my view, you are already better than me, while I have a steady job but it's hard to save.  Financial restrictions have been tried and the results are many unexpected things so that the savings run out.  By not being burdened with installments, my life is even more extravagant because I don't feel any financial pressure, so the feeling of saving is getting smaller.  try to better change your mindset and lifestyle so that in old age it is better not to worry about financial problems

At all situations savings give hands, which is the best part of savings. With investment we've got the risk of losing as well as making big profit out of it. When we're in need if the investment we've made is at loss, this surely hurts us and we won't be able to do anything better. Even at such situations savings will help. Whether one is wealthy or managing to live a life with what he/she have, having atleast a very small portion as savings regularly surely helps in need.

Of course. You should always save money even if you are wealthy already. Don't forget that there never be enough money. And the more you have, the more you spend, so it's a good idea to keep saving in case all your money sources will go away one day for some reason.

And you can also use this money to give them to your kids when they will be older, which is good too.

With what is going on lately with inflation it seems many savers are losers pretty much. Look how much value the dollar has lost in the past 2-3 years. Many were saving to buy a home. But the prices doubled and interest rates tripled that their savings did nothing pretty much.

Sure you say to invest in the markets or bitcoin. However the markets won't always go up. And even if they do go up, might be 5 years before some investments finally turn a profit, what if you need the money in 1 year. Do you sell at a -20% loss.

Right now bonds are good investments however, if inflation doesn't go away those are risky also since the value of the bonds can go down also and you can lose money that way.

Having a savings is always a good thing especially if you know that you spend too much money to unnecessary things. But if you're wealthy that you can live with a extra money I would invest it since you can live enough without thinking of your budget. If you're planning to have a long term savings I recommend it to invest it where everything of the prices goes up with the inflation might as well your investment. For a long time those investment will boom which you can give to your kids. There's no guarantee that you'll make a profit but as long you can balance your money, it wouldn't be a problem. Since the money in the line is you can afford to lose you can win or lose. However always do your own research before investing.

if at the point of average I am still at the stage of having to save and keep on saving. because I think if there are continued opportunities to make money, then saving will also continue. I don't want to waste every opportunity that comes my way, because having a job and income is a very good opportunity to build a future.

if asked about whether I'm already rich?
the answer is very relative. Everyone has a different view of the meaning of being rich.


source : https://www.google.com/amp/s/www.gramedia.com/best-seller/cara-jadi-orang-kaya/amp/

There are many measures of wealth, and everyone responds differently to them.
and if you read the opinions above, I can be categorized as rich if you read quote number 2. because if you read quote number 1, I haven't reached that stage yet.

In the past you could have saved your way to wealth since back then money still had value and was used as store it value but that can't be possible today again. Savings is now a waste of time, instead of saving what you should be doing is investing. Investing is the fastest path to having a financially free future that you won't have to work for your money anymore.

When you get wealthier, you should invest more as more opportunities will come your way compared to when you were broke. Wealth attract opportunity and this will come from people of the same class. You could save for the raining days but don't ever think you can ever save your way to wealth.

Just like what they said, saving alone won't get you anywhere because of the unending inflation. The secret is you have to build a business where your money won't stay in one place like what you think is saving. You need to have a good cash flow and the more business you have the more cash flow in your banking activity but in order to achieve this you need a bigger bag of money and since you are just starting it will be too hard.

Plus you have to had a knowledge of financial management in order for you to withstand the upcoming difficulties in the future if ever you have a business. And the quickest way to make a good profit with your investment is through Bitcoin since I don't think you can start and gain a good profit with your financial knowledge today if you ever start your own business.

You might wanna ask someone who has a business already on what are the challenges they faces with their business.

It's seems like you're not enjoying your life, when you're already wealthy, you should try to find a way where you're no need to work and you keep making money. It can be an investment, autopilot business, or anything. This make you can enjoy the life without need to work, you can also save your money without doing anything. This is called as financial freedom, if you've reach this point, you can take a vacation everyday and don't need to think about money.

Sadly, the majority had only know how to earn money and spend them. Might savings is on their plan but never happen in real life? Until this is what really happens in our life, it all just remains as an imagination. But if we aim for financial freedom, savings should not be done instead, we use our money for investment and grow them.
If you really be doing this, do it until you can, until the time comes that you will realize that investment or running a business is more important than savings. I actually do some savings but yes, I spend more on investing.

You have to keep saving even though you are already rich so that your wealth will increase. And when you're rich, you have to be able to find something that can make money work for you so that's where you can feel real passive income. You don't need to work anymore; the money will go straight into your account, and you just have to enjoy it.

If you already have some bitcoins, you can sell them at the next highest price. Set aside some amount to buy more bitcoins as the price corrects after reaching the next peak. And use the other money from the profits from selling those bitcoins to open a new business. But it all depends on your plans because we have different plans.

What will you invest if you haven't saved anything? Investing is very good, but before you invest something you need to save something. If I understand correctly, the OP was asking if the rich continue to save in the same way or live without it. I think that rich people have very high incomes and they have assets that generate constant sources of income that allow them to save no more, but their wealth does not decrease.

I think in the end saving is not good if done for the long term, you can see that the amount of money is not limited, so instead of increasing but every year our money continues to decrease because its value continues to fall, unfortunately I am also not rich yet, so I share my knowledge have here.

That has a point, our money which has been printed a lot of times and added a lot in the circulating supply in the economy gives that feature of depreciation and that's acceptable because that's what will happen if money has been printed unlimitedly.

Now, we're understanding the concept of having a limited supply and unlimited supply which we've also learned in projects that we've seen in the market.

Long term, saving is a good practice because it develops you as a person to be conscious of the importance of having something in your pocket and in preparation for the rainy days.

The most worrying part is that, everyday the prices of all the goods and necessities are increasing specially those what we basically needed the most, and what makes it worst is that the daily wages are not even increasing while your needs are almost impossible to buy. This is what basically some of the analysts saying that "the cost of living is almost killing the living". Right now is the literal meaning of survival of the fittest, and having a job right now is no longer enough to sustain your family not unless you are working above the minimum wage which you can barely survive. Inflation isn't the only thing that causes a lot of problems in the economy, also the lack of job opportunities results into so many jobless people living in every country. The government can only support a few people but the there are thousands if not there are millions of people who doesn't have a job and still trying to find one.

Do rich people have to keep saving?? Well, let me ask you this: if you want to stay rich, doesn't it make sense to keep saving? After all, the more money you save, the more you can invest, and the more your wealth can grow. It's like a snowball effect. And who knows what will happen in the future? Financial setbacks can happen to anyone, even the rich. So, I say keep saving, keep investing, and keep building your wealth. You never know when you might need it.

Absolutely! Just because someone is wealthy doesn't mean they can stop saving ;D ;D. In fact, many wealthy individuals became that way because of their commitment to saving and investing. By continuing to save, they can ensure that their wealth continues to grow and provide financial security for the future. Plus, unexpected financial setbacks can happen to anyone, so it's always a good idea to have a financial safety net in place.

Wealthy individuals understand that the key to maintaining their wealth is to continue saving and investing. They know that their financial situation is not guaranteed and that they must plan for unexpected events, such as market crashes, recessions, or other financial setbacks. Therefore, even if they have reached a significant level of wealth, they will continue to save and invest to protect their financial future.

I see this happen like this, when we have all the life issues in balance, but things like living expenses,... and it will come when you can afford the money and are satisfied with it. they. Not necessarily rich, as we hit personal financial milestones and look to new challenges it will come naturally.
A good financial habit and regardless of one's wealth level. Whether you have a high or low income, saving helps you create a savings fund and accumulate long-term assets. If you're wealthy, saving is still important and can help you secure your finances in the future. You can invest in savings, mutual funds, or other financial products to generate profits and increase the value of your assets. In addition, saving also helps you to spend sensibly, avoid waste and help you have a reserve fund for emergency expenses or larger shopping plans in the future.

I understand that it will be a long way, more than 10 years for sure, but I have time, while I am young, I want to start it as early as possible.

So far, it will be difficult with work, because I will have to combine my studies with work and I may have to hire housing soon, so I think about having enough money for all this, I’m not even sure that I will be able to save something, or it won't be stable.

Bitcoin is my only investment at the moment, I hope that in the future it will help me create some kind of capital for further development.

This is what I'm trying to do now, every time I manage to save some money I buy some bitcoin. So far, this is a very small investment, but it's all I can do now.

It really gives me concern any time I keep money idle in the bank without having any place to invest the money because it gets inflated and I don't even get any tangible profit from the money saved, but what I do most of the time is lend out the fiat instead of keeping it in the bank (this is not financial advice), not as if I don't keep money in the bank but just money I want to spend or for business purposes, but I don't keep huge amounts of money in the bank for savings purpose.


A person cannot save when they have lots of responsibilities and only earn a small amount of money, but;

 
I somehow agree with the above statement that it's good to have a small savings for emergencies. But every savings has always had a target, either to invest in something or to use for a project, but most people save for just no reason, which is just putting the money in the bank and expecting no result but inflation. Don't wait until you become wealthy before saving, you could save any small amount and gradually increase it to a large amount.

If you say saving is bad for the long term, what about people who are always extravagant in the short term? Are they much better off when not saving in the long run? I think you have said something that is not quite right for this because I don't see success in people who are extravagant, but on the contrary I very often see success in those who live frugally and like to save in their lives.

But if you think about losing value on the money we save because over time it will be considered old and the bank will issue new money, in fact it also depends on each individual in choosing how to save money. Because if you are afraid to save coins or banknotes which basically can still be exchanged with the bank if they are considered old, you can choose other assets that have market value in society for you to save as future assets with very little depreciation rate. Examples include gold, silver and also land which are in strategic locations, meaning you can outsmart these three assets as your savings for the long term because their value will not decrease and sometimes they can even increase.

No one is satisfied with a significant level when it comes to finances. All will continue to pursue ambitions and feel less and less. Saving is not only for the rich because the point is to invite you to have financial options when needed. Saving is not always in the form of paper money stored in a bank or safe, it could be storing piles of gold and so on.
You don't have the plan to save because you still have a lot of money, but do you know that money that is managed without good knowledge will continue to decrease while you still don't have a saving plan? not how much you get from saving, but how much you care when you don't have anything.

Wealthy men always have a taste for more money, you can't be wealthy and decide to shun off money, you will go broke in a matter of years, rich men use their money to make more money, this is the way, even if you make millions of dollars, the moment you stop thinking about how to keep growing that's the moment you will start falling, it doesn't happen in a day, it's a gradual process.

Invest your money and teach your children about money, so they won't waste all your wealth after you are no longer alive.

I don't think that saving is a way to get rich and a way to maintain wealth, because people who are already rich don't save except for savings funds for emergency funds, cash, or are intended to buy something to expand/make their business easier to run. I noticed that the rich people around me were no longer saving, they tended to spend their money on items such as land, property, cars whose ownership documents were intended to be used as collateral for taking loans to banks.
Just like you have the money from your business and only enough to buy a delivery car, in that position you need a car for delivery and expansion of your business, while you also need additional capital to finance it, and the solution is what I said above.

I previously did not understand the context of saving that the OP meant what the goal was, what I understood was to get rich, I thought that saving is not a solution because there is a lot of inflation, except maybe saving bitcoins in a very long period of time.
What is clear if you want to get rich quickly is to use your money to do business that has a fast turnover of money, in other words, that your product or service is needed by society today.



It is not the right decision if you are saving fiat, because its value will always be eroded by inflation. I might recommend just an emergency fund and basic needs from paycheck to paycheck if you are employed, the rest you can invest in bitcoin or whatever sector gives you income without spending a lot of energy and disrupting your work. And of course you will pass on bitcoins to your children in the future, where the price may be many times the current price.

When I am on my way to being wealthy, I'll keep on saving and investing at the same time. It may not be seen for now but I believe that bitcoin will play an important role in that. And if you have no idea of achieving that, take some reading about financial education or watch those videos from educational/financial coaches. They'll give you the idea of having several income streams and you can choose where you're good at and start with that chosen path you want. We can assume that when we're already wealthy, our money works for us and we still need to work for some time but we can mostly enjoy it during that time.

I think it will depend on each person's life situation when we are born with access to each school about the material knowledge of love. People may not have to be rich to think about saving, but I see the point in putting it in the non-waste perspective. And it will cover like material things, time, knowledge,... I admit that some of the secrets to a simpler life, sometimes just letting go of the things we think are necessary. Learning how to give and not expecting to receive, I think such a life will be more comfortable, because society has many different life situations and we need to share more, and I support save to share with others, not save for personal accumulation.

I think you should have 2 types of savings that you should have throughout your life. So there are 2 types of savings that you must have here. The first is current savings. What does savings mean today? So here you go, actually you can start teaching your child from childhood. Because financial education from an early age is very important. Likewise with yourself. then put your money aside for savings. Because of what? Due to many unexpected expenses. We ourselves also know. If you don't save money, it will be like smoke, quickly evaporating. You should know that there are many risks of unexpected expenses. So you start from now, you should always try to set aside money for unexpected expenses, so you can save money. In essence, you must have an account (account), where the account / account cannot be contested. Savings are the result of your business profits. You can leave it there. You set aside everything (cash) into one inviolable account.

second is future savings. This future savings The first is precious metals such as bitcoin. The second is keeping stock. And finally, once you've saved stocks, the third is saving property. That's very good. Why are these three highly recommended? Because of the world's experts for hundreds of years, even thousands of years, many of them have made their way through the property world. Because of what? Because property values will not decrease and their value will continue to increase. If it goes down for a while, it will go up again. Indeed, property has a weakness, namely illiquid alias not easy to sell. But remember, rich people must have one of their assets, namely property. Impossible not to have. So you have to own the property. That's the most important key, it's future savings.

Because if there are not these 3 types of savings, then you will most likely experience extraordinary financial difficulties. Don't wait until you are old, until you are 30 years old, 40 years old, 50 years old. Even up to the age of 60 you are still experiencing financial difficulties. Its bad. If you are experiencing financial difficulties at the age of 30 and under. That's still reasonable. But don't let you at the age of 30-40 still experience financial difficulties.

I think there are rich people who only spend a little. It's kind a amazing how they are good at budgeting when compared to the majority of poor people. Obviously, those rich people are still saving money. I think they are scared that they will run out of money later on, so if that happens they still have something to use.

One of the reason why rich people save money is like you said, for their kids to have a better and brighter future but for the poor people, they only save so that they will have something to use later on, either to buy food, and use when some of their family members are sick and hospitalize. Whatever purpose is it, saving is a must as it can come in handy.

Saving is a must, especially for emergency funds. You need to save some of your money because if you don't, you won't have anything when something serious comes up like for example is war, where cash is really important. Also, saving is a part of money management, so you know how much you will spend on certain things, like for you needs and wants, you don't want to spend it all on something useless in the long run.

Even wealthy people do savings, and that's is to back up their business just in case their plan didn't go out like what they wanted it to be.

Only you can define what being wealthy is to your life, I believe that living a comfortable life is more than being wealthy for me, trying to become wealthy is a very big challenge from someone who is not from a rich family, it will take you the hard work and a long term to turn the tide around for your kids. Things are very costly over here due to high inflation and my way of living has been from crypto earnings since a few years now.

I believe that getting involved with Bitcoin is the only way a common man can get very closer to realizing their dreams, if you can invest in Bitcoin and have a long-term goal for over 8 years to come your aims in life can be fulfilled.

You're right, rich people save more than we think. Many people think that billionaires and entrepreneurs only use the money to invest, not save. It can be said that it is a misconception because billionaires have even more bank accounts than us, and they have a lot of savings to use for emergencies because they know that business is not always favorable.

As for me, saving should be our financial habit. It should be a part of our routine because even if we already have everything, our savings can save us from chaos or unexpected occurrences in the future. Our successors can also inherit our savings in the future and they can also have a comfortable life through it. Wealth doesn't last so we must still be wise in spending ans prioritize saving.

Personally, I think thrift is a good virtue, but it cannot help people become rich. Saving is just a bridge to create conditions as a source of capital to create premise, promote ideals, create investment strategies. and from there new rich opportunities come. I myself am not a hard worker to save in all situations but I do understand that saving is good and even important in these difficult economic times. I'm trying to practice saving on living expenses.

It's great that you have started to save. Yeah, its true that saving can be quite difficult, especially when you're just starting out and you already have a bad spending habit. But guess what, even rich folks save and invest to keep growing their cash. It's not about saving for life, but more like getting into smart money habits that work for you, instead of you working for the money. The rich still needs money to maintain their luxurious lifestyle. They need to save, to make future purchases and investment. Someone who is loaded doesn't mean he will stop saving and investing. Why do you think the world billionaires still invest and save money?

It doesn't matter what our social status is, but saving is something that must be done to prepare for something that might make it difficult for us in the future. Maybe now we can meet all needs, be it premier, secondary or tertiary needs, but can we guarantee that we can meet these needs in the future, of course not. As rich as we are, if we can't manage finances properly then we will eventually go bankrupt too. Saving is one of the things so that we can prepare for this in the future. But in my opinion, don't just save, let's also make investments that we will take in the future.

Saving money is a must regardless of the money we earn, it is easy to think that the rich do not really have a need to do this, but that assumption is wrong, everyone faces circumstances that go beyond what their salaries can cover comfortably, and because of this it is important to have some money set aside to be able to deal with those emergencies, and if we also consider that in order to reach a comfortable economic position you need to become an investor, and before you can do that you need to have some money available to buy your assets of choice, then this means that saving is critical so we can have a bright future.

Yes, being wealthy won't excuse you to save. First thing is to know its importance; being rich or wealthy at the present won't automatically mean that you'd be rich for the rest of your life. It would always be better to be preventive than to be problematic afterwards for the cure of a certain problem and in this instance is wealth. No one knows what could happen tomorrow; things are simply having no pattern, that's just how life works. Therefore, being prepared would make you safe from regrets. Saving therefore would prolong your iverall sustainance of your lifestyle and will make you ready for unexpected expenses in the future. But if you are too confident of your wealth, there is no law requiring you to save in the first place; it takes one's initiative.

The important of saving is for old time sake.
Praying for the best at youth age and prepare for the worst at old age. One of my greatest fear in life is being old and broke.
As a wealthy man, saving is nice but investing some of your savings not all and while you are still making money is the best action to take. Savings will pause your money in a particular account or wallet but investing will multuply whatever you invest in and you will have a running stream of income.

Well you would need to still spend. You can't just work your usual 9-5 and just live with it without even spending some spoils of victory. Go get that sneakers that you wanted to buy if you have the means to do so, just remember that thought process of that "if you can't buy twice, you cannot afford it". It would still be nice to have some savings on the side to avoid the problems that might incur from the uncertainty of your job since we all know that layoffs are happening especially in tech companies lately especially if you're a dev.

If you would like to reach the level that you would not worry about money, then building a business is the way to go.

Saving is an investment for the future, not only for ourselves, but for our descendants and so on. We all know that money is not a guarantee that we will be financially secure forever, it can run out in an instant for unforeseen reasons.

So whoever will save whatever his current wealth, it doesn't matter. Wealthy people may no longer think about themselves but for their family and offspring is the possibility that they are focusing on.

In my opinion, in order to build on what is called success or wealth, we have to start from scratch, look for a permanent job first as a salary in savings first, if we have a lot of savings, then we invest in assets that have the potential to increase in the future because if we only save, we will hit by inflation.
and we have to have something called passive income, if we exchange our time to get money we will not be able to be rich forever, in my opinion, make money from money like rich people do, then we will achieve what is called financial freedom.

Seriously is just like you saying you won't again after getting wealthy. Savings as the name implies to save one from any unforeseen contingencies later in the future, God forbid but do you know that some wealthy people because of mismanagement of funds and financial intelligence went bankrupt and become nothing because they don't have any support system when they crashed.

Well, you do need savings for several occasions. It's for when you need something urgent and stuff are not running behind your expectation. That's what most of the savings do anyway, you need it when the situation calls it.

Human pleasure is always a burden thing to fulfill. Maybe do a 10% rule saving and then you can do everything you want with the rest? I feel it's more appropriate to do for you to balance your consumptive behavior and also  for you future savings.

Many people wants that, but it's hard to because of how people have different background that avoids them to become one. As long as you don't struggle with the money, I think you are fine for the rest of your life.

They wont mind off these things as long they do still have the money and they would really be that confident that they could really be having that money like forever without even trying to look at on what are the possible things that would lie ahead which is something that it is out of control.

We do know that regret do always come at the end on which you wont really be seeing this upfront.This is where it would really be just sensible that you should really be that be prepared for whatever
things that could possibly happen.There's no such thing about assurance on having money like forever because no matter how many investment you do have it wouldnt
assure that it would really be exempted on bankruptcy.This is why always be considerate on having back up plans.

It is one thing to make money, but a whole other story to keep it. When you do not have enough money, you do not spend a lot of money.... but when you have money.. your toys just gets more expensive.

You buy a bigger house and several cars... and suddenly your taxes are higher.. you pay more for insurance etc.. etc. (It is an art to manage riches, without losing it all) ::)

Therefore, the importance of good money management is currently one of the basics that must be realized and understood by all because regardless of anything, of course this is very important if indeed we want to prepare for conditions where we are a little secure in terms of finances in the future. for yourself and your family of course.
As I said about money, it can run out in an instant, indeed, unexpected possibilities like this must be kept in mind and minimized, but this does not mean that we will not prepare because of course this is something we must be aware of, so the hope is to keep saving. there is and of course we can also do something else to be safer, of course, such as by investing in several sectors that are indeed feasible, it is worth thinking about.

A good step for the decision you make, but you also have to have a loophole to take advantage of this condition, so that the value of the investment you make increases. There are several patterns that you can apply to capital-adjusted purchases, the DCA approach will usually be easier to implement, if you don't have a large capital to purchase.

Saving is also important when you can adjust and bitcoin is the closest thing that will get you to the stage of financial independence, it's fine if you have to start with a smaller amount, but it has to be done regularly to get you there.

Every use of money must determine the limit of each need so you will not be greedy to buy expensive things without thinking about the need for savings for the future, we must be aware of excessive use of money before we lose everything because money is easy to spend but difficult to increase, so while we have money is better to be diverted to investing in gold, real estate and partly for crypto because we must have investment items to improve financially for the future.

saving doesn't have to wait to be rich, because saving is an obligation if there are unexpected funds that must be met without borrowing from other people, saving also doesn't have to be in large amounts. I think saving as much as we can as long as we have savings for unexpected times

buying things just for lifestyle is currently a trend all over the world, everything returns to the thoughts of each individual because lifestyle will not die, you will always feel dissatisfied and want more and more

Everybody needs to learn how to earn but saving is a long-term ago scam strategy we are thought in school to believe saving is one of the ways to build wealth.
Saving is the mental thinking of poor people, the wealthy invest in assets instead of saving their fun and living on loans to be task free.

Because many of us don't care about the value of money and how hard we get especially rich people. Honestly, they are enjoying their life and keep doing that until they realize it. But some people will say that we never know what awaits us or if we may die tomorrow, and that is why we are enjoying our money today. They have some points but we should also have to learn the importance of savings as this will not just help us but for our family, especially for the future of our kids. We might have money today and we can buy luxury things but yes, we never know in a few years from now when we have no energy left to work or to run our business.

Definitely yes. Saving is very important most especially if you are very able to save because you have a lot of resources that generate you an income, so saving and safekeeping your funds is very vital. Otherwise, if we never care about saving because we always think wealth and fortune will always be there, so we might end up completely broke because of overspending. And in cases where unforeseen events might happen, then we can’t no longer prepare for it because we never save even a potion of our wealth, and so we end up struggling to earn some funds again.

If you have money, then learn to develope a character that saves money for the future, this will help a long way in meeting up with demands that may be arising later in life, and by then, there would have been a massive increase from your savings which would have turn a profit realization is what you're saving up is bitcoin in cryptocurrency and not fiat which may loose in value, one thing good about savings is that it will appear as if you're dashed the money free after you would have saved enough.

My answer is absolutely yes, because I think it's exactly a habit, even a disease. :) So, if you've really turned into a person who always saves, you can't give up that easily. A person who has managed to deal with his economic relations on a rational plane never gives up on saving and considers the opportunity cost in almost everything. I used to be a person who could not save, but in the last 4-5 years, I have experienced a change in mind and I have started to live my life exactly like a homoeconomicus. Frankly, I am happy with my life. :)

You will never achieve your goal and become wealthy without forcing yourself to save in the first place. You should know that even the wealthy men in the world are still going on a budget and are still saving at the end of the day. So how much more for a beginner like you when in fact you don't even have a permanent and stable job that can sustain your life. That's why as much as you can, learn to save. You can still buy what you want or need but never spend above your means, otherwise you will become broke in the end. And always save first before you spend, that is if you want to benefit in the future.

In my opinion, to live a risk free life, you should always save for it. I don't think it has anything to do with wealthy or poor status. But savings should be done only after meeting the need. Danger can come at any time in human life and it is wise and very important to prepare and save in advance to avoid these types problems.

By saving, you can achieve the accumulation of a certain wealth, but in order to become rich, it is unlikely to succeed. Wealth is achieved either by a career at work, or a successful business, or other random events, but not by saving money. Someone is lucky in the lottery or in the casino, someone with an inheritance or a successful marriage / marriage, but I have not yet heard that an economical lifestyle has led someone to wealth.
Moderation and reasonable economy are needed in everything, this is a good trait that will not interfere with any degree of wealth.

Saving is an important thing for the future so it's feasible and we have to do it, many unexpected things happen in life so without saving it will be difficult for us, besides saving of course saving money in the form of investment is also good and highly recommended because it will make our money increase drastic.

Even if you have the money to literally buy anything you want, it is still important to save even just a fraction of your wealth for future purposes. You can always keep them in time-deposit accounts or on accounts that accrue interest over time (some government-backed investment programs do this) if you still want your money to work for you. You'll never know when your fortunes will all be spent, or your investments will take a bad hit, so better be safe than sorry. Besides, what's a few hundred thousand or even a few million stashed someplace compared to what you are actively investing and growing money on? I think it won't hurt if you keep it for safety purposes.

I don't think the idea of saving money all the time is going to make you, OP, happy. Being smart with your money is not the same as saving. In addition, rich people did not become rich when they deprived themselves of something they needed. You need some free money, which you could either invest in a successful project or organize your own business from which you could make a profit and reinvest it in the business again.
I don’t think that rich people spend their money thoughtlessly; everyone has the amount that they allow themselves to spend. Otherwise, illiterate financial management will lead anyone to bankruptcy.

like you said, everyone has their own way to get rich. some people patiently save their wages to get rich, some try to run a business, some invest, and so on. However, you can run it all together by dividing your salary into parts. however, what you need to remember is, you don't need to invest 100% of your income in bitcoin or your investment place. you need to insert a few percent for your needs. like you want to buy shoes, you can use the money you prepared for your needs.
Currently, I am also trying to get rich. I try to invest, while running a business. however, I was never able to get rich by saving because of my insufficient income. So, I'm trying to find alternatives to increase my income first while investing and running a business.

In general, many people state that saving can save or secure financial assets. Although not giving benefits, there are many reasons why people still like to save cash in savings in their financial planning. The biggest reason is of course easy to access and the value does not change. For example, for the Emergency Fund, of course saving money in the bank is the best step that can be done and can access the money at any time.

But there's a flip side to this. Because the risk is very small, the flowers are not much. There are at least two losses you face. First, the value of your money continues to decrease every year due to inflation. Second, you don't get benefits from compound interest from time to time.

If you have been saving a long time, you might have realized that the money you save does not provide large amounts of interest. Yeah, your money is not growing. Here’s The Thing. Because the cost of living continues to increase, your money naturally needs to continue to grow. At least, your money must be able to survive the inflation rate, because if not then you will lose every year and this will affect your future financial planning.

The solution? Investment!
When you invest your money, the value of your money can increase (or decrease) depending on the form of investment you make. Some investments still have a high risk. But indeed the higher the risk, the greater the profit (or loss) that you can get.

Many people think that investment means spending money to "buy" digital shares or assets like Bitcoin. In fact, investment is more appropriate to be said to save money than buying. Indeed, SiH calls her not to equalize investment with savings, where you can use savings to buy sneakers or target bags whenever you want. However, you can sell your investment and return it to cash even though it takes a few days for the process, and after tax deduction and other costs.
source: pina.id (https://pina.id/classroom/detail/menabung-atau-berinvestasi-mana-yang-perlu-kamu-lakukan)

This is a personal determination of any individual, earning come with strategies or plans while saving is ability to cut down your expenses, so someone is on salary have a plans where the money it earn is been channel's, so I believe saving of money can be call strategies of reserve and if don't have strategies of reserve you cannot be ability to make out reservations. Sometimes theirs some people who not well trained of managing of funds and theirs some people who also well trained of management, and those categories of people that's well trained of management of funds in any situation they found themselves they most be a reservations of funds, so in summary saving and earning is basically a human strategies and anyone who lacks the temerity and courage can't save or either earn.

Saving money is something we have to do, especially if we have a family then it's impossible for us to produce today and then there will be no more tomorrow, good saving money will train us to be disciplined and not wasteful, of course saving money will not increase because Bank interest given at this time is very small.

You first need to understand the meaning and purpose of saving itself before going deeper. Savings means an amount of money out of what you earn that you keep and don't spend for your future so that when you are not earning anymore or in case you need more than what you earn like in an emergency situation, you can use the money you have saved.

You don't need to separate any money and call it savings if you are already earning way more than what you spend, and the money that remains is already what you can consider savings, and that is the case with wealthy people. Wealth makes wealth, so what they do is make investments and start new businesses that generate more wealth for them, and with that, they don't need to have savings since they already have it in the name of wealth.

You have a goal, and that is why you are saving. If you are just saving because of nothing, then that is what you are feeling right now; you don't have direction and keep just doing the cycle. I know that sneakers are wants, but you can make them a goal, just like investing in bitcoin: set a goal to save, then invest in it. Also, your title is misleading, but I will answer it: yes, you still save even if you have a lot of money in the world because you will not know what you will need in the future and you will lose all of your fortune.

We are all human and we deserved a better life for ourselves not because we can't afford those lives but its lack of structuring and planning, at first we should understand the basic needs of life before going further creating more things for ourselves all in the name of making savings. Please don't get it twisted but what i am trying derived is that ' savings are for future usage, meaning whenever there's an emergency then you have to use that money to fixed out all issues among your household'.

But that notwithstanding, if you have a good job at hand presently you can make savings but note one thing about savings, savings doesn't make you Rich but your money are being stored in the bank just in a case of urgency.
What make us Rich or wealthy as we think is investment, which includes getting the right business to engaged ourselves with, investment doesn't mean investing in digital currency alone but can be anything out of digital money which you think can be worth investing without the fear to lose it time soon or closest.

Note that i won't advised anyone out there to put their eggs in one backest because to make wealth you have to undergo many procedure of life that comes with investment, not only in business but have to diversify., you have to deprived yourself some certain things like clubbing, drinking and many more. Any man who is determined to make wealth doesn't engage himself with an unfruitful engagement or activities which might let to waste of resources; you can engage yourself with those activities whenever you think you're financially stable.

From your title savings doesn't only mean when you are wealthy, as a matter of facts wealthy people doesn't think of savings they think of investment where to channel those money whenever they are wealthy because one thing i believe is that, rich people talks of what will generate money for them while poor people think of work to keep them earning. The rich people think of wealth creation what will keep them afloat whenever its too tough for them to scale through life.  In summary think of what will keep generating money for you than savings because i know too well that those money might got finished whenever you stop working to keep filling your saving account.

I want you to understand that Theirs no wealthy person that doesn't have saves and investment, the primary obligations of someone who is wealthy is to be continue increasing on a higher frequency with the little it earn. The reasons while people downgrade or falls during the time having chunks money, is lack of investment, so many people who earn monthly or who is under government always make doubl options of their growth.

Please don't quote me wrongly, savings doesn't yield any increase in my opinion but what keeps you afloat whenever the hard time is there is the kind of investment you have established for yourself long ago, now from those investment you may starts making savings and as well thinking of other resourceful business you could invest again to keep expanding your earnings and savings or better still reinvesting in the previous business also create additional wealth. 

I've never heard of rich people prioritizing savings before investment, and I've never heard them took savings seriously. As what I can see from those people, they only treat savings as an emergency cash or spare money just in case something happens to them in real life or even on their investments. In the end it is all for their investments again.

Our perspective of savings are different, just for example, me that came from a poor family, of course I'll save enough money for my investment or to buy important things or my priorities. I need to save money and calculate even the smallest cents so that it wont go to waste. However, rich people will just invest almost 70% of their money while the rest goes to savings.

People who have earned their fortune treat the product of their labor - always carefully.
As practice shows, "quality" rich people do not squander money to show, to demonstrate their fortune and wealth, they have something to show it anyway.
But the people about whom the folk saying "from rags to riches" speaks, they just like to flaunt their "wealth". They are characterized by an unreasonable waste of money, and on the most primitive methods of "showing wealth." It is enough to look at the appearance of the really rich and wealthy people and the "rich". The second ones really catch the eye and shine in the sun, from the amount of gold and shiny jewelry they are wearing :) It looks comedic. We had a local example of "brothers from the 90s" - a mix of bad taste, greed, primitivism and a medieval view of "wealth". A suit with a red jacket, a 500-gram gold chain around the neck, huge gold rings on the fingers, which were called "nuts", a mobile phone is a must, and in such a way that everyone can see it :)

And modern businessmen who now earn millions, for example, on technologies - jeans, a T-shirt :) No gold, no glitter, pragmatism and calculation. But at the same time - your own business, a good education, knowledge of several languages, real estate in several countries, the ability to have a good rest, ...


What am I for? Spending wisely is important!

Save until we can save. I believe that saving would be helpful for every person. However don't save for the sake of saving. Save because you have a different reason. I just watched a video a few days ago telling that there are 3 reasons why a person needs to save. For me, there is no such thing as "significant level" because you don't know what can happen, or what you can do in the future.

1. A person needs to save for emergency funds. At least 3-6 months of emergency funds will be fine. The more, the better.
2. A person needs to save money because he needs to buy something that's expensive. A car, a house and lot. Something that will be helpful for the person.
3. A person needs to save money so that they have money to be used on investments.

You are saying that because you didn't experienced anything that would cost you a lot of money. Trust me, if you experienced something that will cost you a very expensive amount, you will change your mind with that. Just pick on the 3 reasons that I shared above, and just continue saving. Don't stop. A wealthy person doesn't stop saving. They are saving because they either want to buy something that will help them, or they want to invest into something like into a business or something.

Agree, even the wealthiest man in the world also have saving. Thats the best way to do with the excess money that we have because its a preparation for the future. Not because you are rich you dont have to save, just imagine what if you hit a bankruptcy status unexpected what will happen to you then? Saving helps us all to become prepare for the unexpected things that we dont want to happen in our life. For me its a must to do cause I dont want to think more about my financial when I reach retirement age.

You may be right, I recently read that the wealth of billionaires has only increased in recent years. This may be due to the fact that their investments bring in a lot of money, much more than they are able to spend. Also, their businesses bring a steady income, but of course this is possible only if it is skillfully managed, otherwise there may be losses.

Saving cannot make a person wealthy but invested your money into a field that will give you monthly profit is beneficial. There are lots of people who wants to become rich but it does not happens early and quickly but you have to work hard first for it and then you will get a fruitful results.

If you have bitcoin then it's mean you are wealthy because a common man cannot buy a bitcoin. Other thing is that you should keep it holding until the price become so higher to give you much profit.

It does not mean that if a person set a business then he should not save money but saving money is important for everyone because sometime there appears a sudden harsh condition where this saved money will solve our issues.

They are rich because they are businesses minded and they always focus on enlarging their territories and assets so no wonder why they are billionaires which is actually inspiring. Wise spending is very important and saving must be a part of our practice. We shouldn't aim for buying material things but focus on how to maximize our savings. It should be saving over spending all the time for us to manage our funds properly.

Actually, people don't become wealthy from saving their money. They become wealthy through investments; and that's even when such investments become profitable. This is the simple reason billionaires always look for ways to reinvest whatever that's left of their earnings after setting aside what's for their daily running cost. The fact remains that only those without investment plans let their money lie idle without putting it to use. Savers who don't have any investments is meaningless.

Yes so in essences investment is the key to prosperity, after haven planned well for it, sometimes we don't always plan well and we think getting wealth is just as simple as magic, no this is not true because we must learn to control ourselves concerning our savings and investment. If our savings are much given attention than our investment then there might be a financial problems in the future, so investment should be given much concern before talking of savings.

Yes, that's how it should be, maybe we already have an idea when it comes to fulfilling our basic daily needs because we are used to doing that, we can calculate it within a month. Saving really doesn't have to be much as long as we never miss it after our basic needs are met. There is nothing wrong with buying things that may not be too important as long as they are within reasonable limits, as a form of appreciation for ourselves.
But don't let because we focus on saving we neglect obligations that must be fulfilled (especially for those who already have a wife and children).

We can say this really depends on each individual/person in managing their finances or in general we can say this goes back to a person's principles and including their management, of course everyone has different needs, these savings need to be covered how the needs you in life, although not all of them are the same, and I think this savings occurs when there is a goal that someone is definitely going to achieve.


Back to what I said earlier, this significant level will be determined by someone when they have targeted how far they will continue to do this work, I will say a little even though they have reached the significant level and I think they will continue to roll back their assets.


And of course, we are still doing it to this day, saving is already one of the important aspects for us, it seems I will still be consistent with this decision in improving the future because I still think that this will be a provision and good savings for our future, just as we are consistent in investing in our assets, I am still very consistent in saving and investing until now.

It's not a wise act to keep saving for no purpose or just for the sake of becoming rich. No matter how much a person saves, if they stop earning and start spending the money they have already saved, they will definitely go bankrupt again. Money makes more money if it is well utilized, if it goes into good investment plans, if it is used to run good businesses, but money cannot yield any profit when it's just being deposited into the bank or being stacked in your house.

Most people were able to live the wealthy life they wanted because they did not just depend on one stream of income; they saved, they invested, they reinvested, they made money, and they still put the money they made to work to earn them more money. Money should be saved with an aim that is not just to become rich.

Certainly, OP find it not wanting to save anymore because he just want to become instant rich and wealthy so he won’t worry anymore of his expenses. But that is not going to happen unless you are not going to save from your earnings and invest. Maybe you just lack the goal and determination OP, and you even don’t know why there is a need for people to save. Even those wealthiest men in the world have big savings account in their banks, because they do have certain goals to achieve in their lives. Set a certain goal OP, so you will be motivated to save more.

Wealth and in this case maybe money will run out if it is not managed properly. no matter how much money we actually have, if it is not run properly sooner or later it will shrink and of course one good manager for this apart from investment and business planning is to do so of course saving is something that is certain. it doesn't matter how poor or rich you are i think if people are financially savvy then they will save no matter what.
We already know what the consequences will be and still don't do anything about money management, it's really stupid.

Investments can act as a form of savings, but there is nothing like having a spare "emergency" fund of readily available cash in a bank account. Some people feel like they can get by with spare capacity on their credit card, as a back up source of funds if needed. Others might invest a portion of their money in low risk investments - like bonds to help it earn money instead of simply standing still. In the current climate, banks are actually starting to offer reasonable interest rates again, which makes it somewhat worthwhile to start holding money in bank accounts. Even the richest will have a small portion of their money available in easily accessible accounts, but they're the people who have to worry about money the least.

It is the reality and happening in many parts of the world. While the minimum wage aren't really increasing a lot to help deal with the inflation and high prices of goods.

That's also hard on the side of the private companies that they can't just easily increase the wages. In tackling this problem, one job isn't enough these days.

One has to work two or three more jobs just to feel convenient living while dealing all these problems and could also be the way to have some spare and do some saving.

For lots of reasons yes always save income as one day your outgoings will certainly be higher then your income.   Just from the health perspective make savings, you may not always be able to do the same job not just for personal reasons but some sectors are more risky then others.

There's no such thing about infinite money which means that it would really be just that bad on having that kind of confidence in mind about spending without having those limits and considerations and not even minding
for you to save up for future purposes.We do know that we dont actually know on what would happen in the future which these savings thing would really save our ass up on certain conditions or situations.
Well, if you are really that wealthy, you would definitely be not minding on savings since you do know that you do have lots in your bank if we do speak about money or finance.
This is why people wouldnt really be having no time on minding whether they would be saving or not.

Maybe you are feeling this way OP because you felt that you are being deprived from buying your needs or wants because you prioritize saving in the first place. And right now, you may have doubt the essence of saving and you just feel like spending without wanting to save anymore. I understand you OP, but always remember that there’s no permanent in this world and if you are earning profits right now, then it might be in the future that you will experience the opposite way. That’s why always give importance to saving, as it will help you when circumstances suddenly arise and by that time, you have no source of income that will provide for you. So good thing if you have save for that and for your future as well.

LOL  ;D
I can feel your frustrations from here, indeed, it not easy, and one thing i must tell you is that, savings alone does not make a person become stable and independent financially, you have to save, and as well invest.
Savings is what turns around to save us when we encounter challenges that need financial solutions, while our investments is what give us some level of guarantee for the future, in terms of financial stability.

But then again, you cant just save and invest, you need a steady income to be able to save and invest comfortably, else you gonna be having serious problems with this, so your first step is to work towards getting a job with a stable income, or better still, start up a good business, this is how you can easily save and invest comfortably.

And again, whether you should save if you are wealthy? Yes, A man said, whatever you were doing when success found you, don't stop doing it, if you were doing business, saving and investing, and while doing this things, you become successful/wealthy in life, then don't stop doing business, saving and investing, infact expand your business, also increase the amount you save, and as well increase your investment portfolio.

Don't wait to be rich, when you're still not rich, we have to saving. The goal is not just to collect more and more, but to cost something unexpected. But in the long term it can also be a valuable asset. Imagine if you never saved and one day you had to repair your damaged vehicle and the payday money was only enough to eat, what would you do? At least if we have savings, we are not worried about such incidents.

Saving money is an important thing, this is because we never know the conditions or situations that can occur, for example the covid situation which occurred for almost 2 years and made our income drop, I also felt the impact of covid and made me have to sell my house assets and unfortunately I also lost when I bought about 5 years ago.

because everyone's level here is different, maybe they will show their thoughts differently too, some might be in the initial phase and just starting to save, on the other hand, some have already gotten a return on their investment and are still continuing to increase their income.
and some are already very well established.
I guess to achieve it takes time and not instantly, even in crypto you need time to get big results

For people like us building from scratch having no source of wealth/property left for them to kick start from by their ancestors it takes a lot of brain storming from us to try to build on how to start, where to start from and what to start with. In this situation savings is hard to manage with as you have to at same time deal with achieving some other needs and meeting up responsibility from just one  source of income that lacks permanence.

Op you just have to deprive yourself of certain enjoyments and weigh your scale of preference to meet with your pressing and most important needs that's in line with your plan for the future you seek, else if you keep wanting this sneakers or that new suit or that brand new car when your savings ain't doing fine then you'll just end up nowhere near your dream life. So put your priorities forward and keep behind needs that don't matter now based on your current means of finance.

I agree with this since it is true that even though you are wealthy, there are still unexpected events that might happen. It is always important to be ready with those events by making sure that you have wide savings allocations. Emergency fund is one thing since it is really for emergency. Securing your financial status is an achievement and it would really help anyone regardless if you are starting to build your finances or even you are wealthy enough.

I have not seen anyone get rich by saving, but there are still many people who do, they limit their spending for themselves and their loved ones, and they think that way they will become rich. But they don't think that as long as they stop working and start spending money, no matter how much money they have, they will run out, you are right on that point.

Savings should only be used for emergencies, other than that I don't see a second reason to save. If you want to have a rich life besides working hard and earning a high income, then investing is what you need to have.

saving is not a matter of being poor and rich, but an awareness to be careful in all circumstances. because the economic situation is always uncertain, so it is only right that you must continue to be on standby to face all eventualities.

do rich people still like to save, in my opinion it is the rich people who save the most and save the most, it doesn't mean that their wealth comes in vain, there must be a reason why rich people become that successful, one of which is from saving. You should be proud and grateful if you can save, because there are many people out there who really want to be able to save and have a reserve fund but can't.

Most of those rich people are for sure already doing this because they are rich because they can manage their money well, so probably they already have emergency funds or funds in case they all went down. Though with us poor people, we have problems saving because it is not enough for us. That is why some of us prefer to spend it on food rather than save because our salaries are not enough. But even if I become wealthy, I will continue to save heavily for emergencies. 

For me, If I was wealthy I would rather invest the majority of my money smartly than save it in FIAT and it is certain I would keep or save the minority for sudden situations. In fact, There is a plenty of ways to invest your money such as, starting projects related to new technologies , buying precious metals, lands and of course Bitcoin & Ethereum
That’s how you can reduce your tax rate intelligently.

Moreover, the future is unpredictable. So the more you have solid strategies and plans, the more your money is safe and your wealth is growing.  Also, life is too short, we should enjoy it and entertain ourselves and family but don’t spend what you have on useless and trivial stuff just to flex on people and boost your ego. That’s called stupidity and banality . Plus, it is unfortunate that the social media is full of them. We literally live in a materialistic and hypocritical world but it does not mean we should follow them.

That's a fact. When a person keeps spending their savings without earning more to save, they will definitely go bankrupt again, which is invariably not a sign of consistent wealth. Unless for old people who tend to save their wages so that when they are retired, they would have enough money to land on, and by then, they may not have lots of expenses to cover because by then, they may have had grown children who can even be supporting them in their needs. Some say money is hard to make but very easy to be spent lavishly; if one chooses a lavish life style, then it cannot be obtained by saving a whole lot of money, and one should stop saving just to lavish the already saved funds.


@Smack That Ace, as an economist, savings should not only have one purpose, like you said for emergencies. It's an arguable fact, which I am in doubt of. Savings, whether for a wealthy lifestyle or not, cannot be limited to emergencies. If you work to earn a living and your salary cannot cover the cost of a car and you need to purchase one, you will definitely save to achieve that goal, or you will be deemed to take a loan and buy the car, in which case you will still need to save so you can repay the loan. There are a lot of instances to consider.

I read and listen stories from famous rich person so many times. None of them rich by saving their money. They invest it and wait for a long time. Everyone can invest their money but not everyone can resist not to sell it. I think that is one of reasons our difference with rich guy.

But you are talking about rich people who already have a lot of wealth and profitable investments. And what to do when you still have nothing, how to build this fortune, that will generate a constant financial flow?

My bad, I didn't remember that. You are right, the savings can also be used for other purposes as you mentioned, not just for emergencies.

But honestly, I never thought about it, my current life, my income after deducting daily expenses and partly to save for emergencies, the rest I invest. I just thought once my investment was profitable, I would have enough money to buy a house. I never thought about saving up to buy a house because I thought it would take a long time and was too far fetched to look forward to.

It's really a two-way thing @Smack That Ace. I'm not saying you are wrong if you think in that direction, but it's not bad to save for the goal of buying a house while at the same time having an investment to buy the house. If the investment pays off well enough to buy the house, that's great. But also the investment would take time, even if it's not as much as the savings. If there is a chance that when you combine your savings to the investment in order to buy the house, it will reduce the waiting time as well, giving you the advantage of combining the two money bags to get the house. But the way you planned your financial budget is still good, you are investing for your goal.

By the way, your username really looks so entertaining! I wish there was a feature in the forum to switch user names; I would want to be the guy smacking the ace.

Basically, people who are already rich also start by saving before using some of their assets in the investments they like. Because anyone must have capital to make investments and capital certainly will never exist if someone is still living too extravagantly.

So saving is an important part of life because any money saved will never go to waste, moreover it can be used for anything including building a business and can also be used to support health when someone suddenly falls ill. So those who are already rich, of course, start by saving by living frugally and have a long-term target of increasing their income, and that is not only through investment, but also through the business lines they are good at.

Know your financial limits in advance and plan wisely so that you can achieve your goals in the long term.
You can't get rich if you don't have savings that you then invest in assets that can bring you profit, but first think about how you manage it while you can't ignore the necessities of life.

If you have sufficient income, I think you can plan this idea well. But on the other hand, if your income is only able to meet your daily needs, please don't expect something big without doing something big.

Actually in this condition there are many examples that we can see when we are not wise with the money we have. For example Rapper MC Hammer or even David Segel who incidentally is one of the Real Estate entrepreneurs in America. They underestimate their financial condition by living in extravagance, which actually backfires for those who really have to live in poverty because their money runs out.

Of course there are many other examples and this should be used as a reference that we should not be too complacent and feel the richest because indeed money will run out and a sad life can happen when we are always having spree and spending money when we have more income.

For investment in any form or any form of investment you must be wealthy  enough or been into average life before you can be able to make or keep saves so I believe that someone that is not okay in life overfeeding itself and taking care of the family can not have a saving account so it is one thing about being wealthy and not being wealth towards investment

Yes, saving could take a long time but it’s actually the process of saving, you have to start it early the moment you are earning, and throughout the years of saving, you will eventually make a huge amount in your account. But I believe if you save for a certain goal, the more you will become motivated to save because your savings will have it’s certain direction. So regardless if you are wealthy or not, as long as you are capable to save your spare money, then better take some time for saving, and maybe you can invest a portion of your savings later on.

Unfortunately, just saving money now is not an option - inflation is rising quite rapidly. Also, bank interest rates cannot be called a reliable insurance against inflation, since the offers of banks are often ridiculous. So we have to make money work, and look for where to invest it properly.

somebody who have the mindset of reservation will you still preserving money or know how it will spend it money whether the person is a civil servant or not it must to have a reserve the money to spend in next day investment is just a way of getting more money it is what all investment is all about and for someone to invest you have what is pushing you

Individuals savings lifestyles can be affected by different factors. As an economist, I don't think it's wise to save without a particular goal of saving from the start. You have stated that one should save and invest later on, but how can you tell if there could be a better utilization of your savings if you are still unsure of what to do with them? Every savings goal should be laid out from day one.

Not all savings take that long; we have short and long-term servings plans depending on the purpose of the savings. There are some people that always have a long budget and as a result they don't save, but most times to meet up their target, what they do is cut down their budget for a few months to enable them to save a certain amount for those few months that they could use to archive the goal.

Saving could become meaningless if you still have a very expensive lifestyle ... in case you get hit by something that makes you dropped down to the lowest economic condition and then you opened up the saving fund that you have prepared when you wealthy enough ...

All of your savings could be gone in just few days even hours if you keep the high lifestyle level on your lowest economic situation. It's the matter how you live it with your fund and manage it well.

It is written in the bible that the rich will get richer and the poor will grow. And it is true that I believe. The question is why will someone who is already rich get richer?

      It just means that there is a system that makes the rich person compared to the poor person. If his business is growing as he has it, it is clear that he is able to save savings. Because you can't be rich if you don't have businesses, and they can't neglect their businesses either because they will fall to the level of poor people.

That's a wrong fact, people at any cost never touch the money that is being allocated regularly as savings. When one gets into savings the same is done for some purpose. When the expected amount is being reached, the savings is used. This is how traditional way of savings work, not like as like we use our regular needs amount.

It is best to save when it is necessary and available, of course almost every one knows the value of saving but talking about time. it is most important that you have good savings whether it is when your wealthy or not but make sure you have a savings for the rainy day.
Where people get things complicated is when they make money and find their selfs in the biggest position to control assets they tend to save both for themselves and their entire generation.

There is a local proverb that says poor people give birth to the rich. Check through the backgrounds of the richest people in the world their parents where either poor or so how rich but not very rich. But now you can find the richest people having two to three kids and saving amount of money that even there forth generation might finish, and this children watch them closely there don't end up become the richest people like there parents or sometimes they don't even have a good contributions to the society. This an effect of excess savings so save only for a good reason not because your wealthy or when your wealthy or when your broke.

By saving you can be rich in many ways, not only the amount of money you can collect, there are many important things that you can get when you set aside some money for savings. One of the benefits of saving is that it will make your finances more stable, at least you have savings to finance expenses that you never thought of before.
If you save consistently, you can guarantee your old age. The best way that can be done is to set aside your monthly salary by up to 20% each month, imagine if you continue to do this consistently for the next 10 years, how much money have you collected.

well, saving can indeed make someone rich, and guarantees for old age if they consistently do it. it's just that, I think that saving will not be optimal if the salary we have is small. therefore, maybe building a business slowly will also become an asset that can make us rich. almost all the rich people who exist today are rich because they have a qualified business. they achieve financial freedom because of their business. so, I think focusing on doing business, and saving money will slowly make someone rich, and maybe be able to get economic security in their old age. Besides that, it will be great when you start saving above 30% of your income when your business is really running smoothly.

I believe, through saving you can become a wealthy man or woman because that is the strategy many successful traders applyed in their investment to maintain success in their plans in the community. Save money so that you will be able to achieve what you want to achieve in that particular period, and it will help you to purchase huge amount of Bitcoin when the price is low in the market which is the purpose many traders save their money for future benefits. The money I saved last two years from my working place, really help me to invested in Bitcoin last year when the price was 17,212 which there is a hope for me to make a good income any moment from now.

The goal of saving is to fulfill or manage finances on a monthly basis, saving money in the bank with the current interest per year is only 8% then there is a 3% discount, so it only adds 5% per year, while annual inflation can reach 5% so nothing changes when we saving, it's time for us to change the saving system in banks into cryptocurrencies assets such as bitcoin, BNB or other altcoins.

I think their goal of saving is clear, that by doing so they are trying to suppress conditions where they don't do anything that is considered wasteful and with conditions like this, logically those who save are of course aware that they have to change some views, including in this case lifestyle. Even though it doesn't mean we also have to torture ourselves, but on the other hand, in this condition, it depends on how we suppress our ego and self-esteem as long as we are able to do things like that. I think lifestyle can be changed with the initial thought of saving.

If I turn rich one day, of course my life goal wont be to spend every money I have, because I wont be able to take them with me afterlife. But I think I would not really save much. For me that will be an opportunity to get more experience, knowledge. I think I would only save a part that will be a starting capital for my kids, and will definitely spend a lot on their education. 100% they wont enter adult life carefree. It wont be like "I have worked and earned so they could do entire life nothing". I have achieved and wish they do the same. When I am wealthy, I am not going to economize on myself to save.

In my opinion, to make us more comfortable in managing finances, saving is an important thing, the size of being rich is of course different, and in my opinion, if I have at least $ 100 million, then I am rich.

I think the first step is a stable income, then you can save a little of your income, then invest it, but it is better if it increases your income, then your investment will start faster and will bring a larger amount of profit.

You talk about saving and creating start-up capital for investments, but also many people here say that saving cannot make us rich. Therefore, I understand that more is needed to create wealth, and we again return to the idea that you need to create a business that will generate capital for further investment.

I do agree that poor people would have a hard time saving. I mean if you are making less than a thousand dollars a month and barely surviving, how are you going to save money? That's why it is going to be a trouble most of the time, not many people could understand the logic of it.

I hope that we shouldn't really be doing anything that is risky by overspending neither, surely our salaries are not enough to be rich, but it is enough to not be poor. I am not poor thankfully, I thank god everyday for it, but I have to say I am not rich enough to save constantly and be wealthy neither. I save for months, then one sickness happens and all my money is gone. So, it is not easy for us at all.

For difficult economic conditions like today, saving is a job that is difficult for people to do, I imagine the minimum wage in the country where I live is still low and has never increased, while basic needs have increased from the previous price, making it very difficult for people with incomes in below the minimum wage to save, to make ends meet it is difficult for them to do and how they set aside money to save.

The financial level will indicate the extent to which the community is prepared to get involved and Do not teach them about saving if their food needs are difficult. Therefore try to save when you have opportunities and as well as trying to invest so that financial capability increases, if saving and investing is done when economic conditions are difficult, it will definitely be far more impossible to do.

It takes effort and time to achieve it, you will do it differently in the sense of saving when you are rich. Rich people with people who want to be rich do different ways in terms of saving. Rich people can do many ways to save, they can also enjoy the results of their savings. Like doing business, and investing.
You don't have to worry anymore about how to get money when you are rich, money will come to you from the business you built. Being rich is everyone's dream, you can achieve it if you are diligent in saving and trying.

Sometimes we ask questions that are nit really worth it, seing ruch people existing doesn't mean they have money milking machine inside their house or a money tree whereby they pluck continually, rich people saves as well, not only that, they also invest and diversify their investment as well, they are well disciplined people that understand the principles behind riches and are ready to give all it takes to maintain being rich.

This means that you are suggesting to share a portion of the income we have to invest, yes indeed that can be said to be good because some of the money is still used to be driven into investment and the other part still has to be saved to take care of other things in life. But if the investment is planned for the long term, then it would also be better to make some effective steps to support better income because periodic investing also has a certain way for everyone to do besides doing it DCA.

The following are a number of steps that may still be very feasible and can be taken for investment by young people as well as adults, as stated on the manulife (https://www.manulife.co.id/id/artikel/cara-investasi-bagi-anak-muda-dalam-5-langkah-mudah.html) website, as follows;

• Understand the Concept and Risk of Investment
• Have Clear Financial Goals
• Determine the Investment Instrument
• Open an Investment Account
• Execute Disciplined Investments

There might be a big difference between being wealthy and being rich. We can say that wealthiness is the extreme of richness. So not all rich people are wealthy.
Saving is a tool that poor people tend to use to achieve financial freedom.
But it has proven that rich people do not emerge from savings rather from investment. I do not think that wealthy people keep saving after becoming wealthy.
What they do instead is investing. What are they saving for?  for rainy days? With they everly have sunny days. Well, this might depend on the level of wealthiness we are talking about.

By only saving without investing, you can only be temporarily rich; when you stop saving and start enjoying the money you have accumulated, you will definitely squander it within a few months or after a few years.

When you save to only settle some arising expenses, after which you will need to save up to cover the other expenses you have already spent, you keep doing so for a long time just as if you are moving in a circle, and perhaps money spent does not regenerate unless you work for it again.


This kind of idea is just wired. If one intends to save for old age, then imagine saving up to 20% of your monthly salary for 12 months or less and then putting the money into low-risk investment plans like real estate, stocks, or bonds. Don't you think it will be more profitable than just saving for 10 years? I don't claim to be too knowledgeable about economics and investment, but this idea of yours is unfortunately very disagreeable.

You can't just deliberately stack money in the bank or in your house all for the sake of savings, because when you grow old and start spending the saved up money, it's not going to be consistent because it's definitely going to be exhausted, even if not by you alone but by your next of kin.

Also, due to the high inflation rate affecting our economy, saving up to 20% of your salary is no longer feasible, though it depends on how much the person earns, the country they come from, if they are married, and if they have children. The inflation rate is more or less better in some countries, and also, married people with kids have more responsibility and more bills to pay, so savings up to 20% is really something that is not working for the majority now.


That is perfect, with a touch of good example. Building a successful business and not just some small-scale business can save someone's ass during old age because even when the person is old, they can still hire managers to handle the business should their children not be able to do so. A man in my country owns one of the biggest hotels in the city, and being a good entrepreneur, he has more than 20 hotels in different cities in my country (this is no joke). This man is old now, and his children are his successors in the business. So the thing is for someone to either have a good business or a good investment.


With the inflation rate now being so high, I don't really know what stable income means, especially when one is working to earn money. In my country, some minor workers are not even earning up to $200 per month, and I know most of them even end up spending their whole salary on budget without a single saving, and that's because things are very expensive. The higher the investment, the higher the profit to be expected. But I just think if one's mind is made up to invest, then it is better to just invest the little money the person has been able to gather; otherwise, if the person thinks of waiting until the money is big before they can invest, they may end up spending the one they already saved. Although not everyone is prone to do that, but that's not when a person is faced with a pressing need. Bitcoin has made it easy for investors who don't have enough money to invest to invest gradually with as little as $10 or less.

I prefer to invest when am wealthy than to safe.
Saving is good actually, but investing is more preferable because it will give you more profitable returns. People save for future use forgeting that when you start making use of your saved money it will get finished easily.
But when you invest, it keeps multiplying even your generation wont lack if only they continue the investment thread.

The purpose of saving is so you can have money to use for investment. You don't save money just so the money sits in the bank or something. And the only way you can get rich the way you dream of is by investing. It's hard I know, but you just got to take it slow and small. These wealthy people you see today didn't all start off with big investments.
Also, because you need to save doesn't mean you won't take good care of yourself. Try to make use of the money you earn for yourself too. If you need a new sneaker and you can afford it, then go for it. What's the use of money if you can't spend it on yourself.
All you got to do is be smart about it. Know when you're spending money on unnecessary things and when you need to take care o yourself

Stashing cash without putting it to work is like sowing seeds without a drop of water. How can you expect growth without some tender loving care? But imagine, you opt for a secure future by investing in low-risk ventures like bonds or stocks. Bam! That's when you start to prosper. Building your future is like crafting your magnum opus, requiring patience, originality, and tons of elbow grease. It's not a walk in the park, but the blood, sweat, and tears pay off. You know, "The early bird snatches the worm." Start young, and you'll be laughing later. Drag your feet, and you might just be the worm the early riser devours. So, you choose – worm or bird?

I agree but Even if you have a lot of money, it's still wise to save some of it. Saving money can help you reach your goals, and even prepare for an emergency fund. Saving and investing your money can also make it grow, giving you more certainty about your finance and the ability to make better decisions. Because you can't be wealthy if you didn't work hard for it, unless you inherited it.

Saving money is an essential part of building wealth, and it can take some time to accumulate a significant amount. However, it's important to remember that every small step you take towards saving and investing can make a difference in the long run.

It's also important to have a clear goal in mind and a plan to achieve it. This can involve creating a budget, identifying areas where you can cut back on expenses, and finding ways to increase your income. As for your investment in bitcoin, it's essential to research and understand the risks and potential benefits before investing.

Remember that building wealth is not just about saving money; it's also about investing it wisely. This can involve diversifying your investments, seeking professional advice, and taking calculated risks. Keep learning and seeking knowledge about personal finance, and with time, patience, and discipline, you can achieve your financial goals.

Yes, saving has certainly its own benefits but it will do more money if you also invest it in potential investments like bitcoin. However, if you can do both saving and investing, it will be much better so that if your investments do not work well, you won’t struggle financially as you still have your savings that you can use when all your money are used up. And much more you can do a lot of saving and investing if you are rich and is good in managing your finances.

We cannot guarantee that our wealth or fortune may lasts, that’s why we have to prepare for it and save some funds before we lost them all. And saving is a good start so we can actually prepare ourselves for those unforeseen circumstances that might suddenly arise, or just save to have a brighter future for our kids. However, if we can also learn to invest aside from just saving, i believe it’s the best means to grow our money and build financial independence in the future. Saving alone won’t guarantee it, but investing will certainly do.

Savings should be regarded mainly as an opportunity for a fresh start in the event of the loss of the source of income. Any amount can be spent quickly if you want, so you should make it a rule to keep a certain percentage of savings as an emergency reserve. It should not be spent under almost any circumstances

Rather than making it an opportunity it is always good to prioritise saving, because it is the one that could help at the critical situation. The goodness of savings can be understood through the real-time experience of middle class people who move their lives with limited earnings meeting all their life needs.

We all want to save, but the problem is that we can't because our salaries are only enough to cover our basic needs; if we save, our budget will be insufficient. No matter how much we think of saving, even a small amount, at the end of the week or month, they still need to spend it because they needed it, like to buy food or ETc. The only solution to this is to have extra income so that we can save.

You already started your journey to achieve your goal because you have savings and some Bitcoin. If you want to become rich then don't just save, learn to invest not just in Bitcoin but in other opportunities that can give you passive income.

If you want money work for you, investing is the key whether in assets or in business. However it's not going to be easy as it seems because it needs a proper plan and knowledge. But if you're really determine, nothing is impossible just don't give up.

Most times we just worry ourselves and bother out minds and hearts with what doesn't really seem necessary.
It's high time we just start living our lives to the fullest after all, we would all die someday and what will be the essence of all this works when you can get the things you need and desire even when you can afford them.
I would advice that in all you do, you should try to get a stable source of income by so doing, it will help to make your savings more easier for you and I understand your fears when you say that you aren't sure if you can save and that's also same fear people who save out of pains have and you should simply just take things easy on yourself.

in investing in bitcoin the main thing is that we have knowledge about it, so don't be in a hurry to invest, because there are many cases of people investing in bitcoin with the main goal being profit, but what happens is the opposite. and it happened by mistake. after knowing it, we can save bitcoin with money that we don't use for living needs so it will be easier to hold it for a long time because no one knows when the price will match our target

The distinct line between wealthy people and struggling people is that the former has the fortune and resources at his disposal and believes in buying an asset and investing his money to make more money. So, the asset is what covers all for them, which is more than savings as the asset generates more money over time.

While the latter saves because of their little resources. They might be saving for a project or financial plans, they just don't have an option if they want to excel. But this would stop the moment they are wealthy because, at that stage, they will only be taking money out of their investment which I believe is better than saving.

    There are many rich people around the world who save their money or wealth that in the end they do not benefit from it, but the ones who benefit from their savings are the families they left behind.

    That's why other rich people, when they feel that they are close to death, they prefer to pour and give their savings to needy people, like others who give to foundations either for the adults, kids cancer survivors for at least until last moment of their lives they helped many people in need.

AFAIK, most people on this world never stop earning no matter how much money they own at the moment and the reason for this varies from one to another but majority just don't want to stop because they want to create wealth even for their upcoming generations and it's a good thing to do but if they are making money in the honest way then it's appreciable and can inspire lot others to follow the same path.

I think saving is not only about for us in the future. but also about preparation for our future offspring. so even people who are already rich will definitely still have savings and maybe even be more diligent in saving. but what we need to know is that the mindset of rich people is actually always thinking further ahead. they are good at seeing potential. and they are always brave in taking a step forward to gain higher success.

but if you want to enjoy life without thinking about having to save. So I think first you have to achieve financial freedom. where you are no longer worried about the money you spend. because you already have income that continues to flow even without you going to work. Financial freedom is what everyone dreams of. even out there there are still many rich people but do not have financial freedom. they are still busy minding their business. it's as if they don't allow their bodies to enjoy life more. they continue to have lofty ambitions. when something has been achieved they will try to reach higher. and it continues.

Saving is an excellent thing to do because it helps us prepare for big things, however right now I can't save because I have so many expenditures to pay for.
Due to my familial history, I am unable to save money. Instead, when my family is in need, I work hard to meet their needs until the time comes to save.
Since you are in financial difficulty or you want to make a purchase, I am unable to advise you to save money. Why work if you have money saved for the future and want to buy something now and can afford it?

I save money only to manage my finances so that I don't carry too much cash, very low bank interest cannot be expected to get profit from saving money in banks, especially now that the government often makes financial policies that are difficult, for example limiting withdrawals of large amounts of money .

The creation of monetary savings, in my opinion, is not an end in itself.  

Each person has at least 12 major life goals which include family, lifestyle, self-realization, relationships with other people, etc.  It is success in achieving all your goals that will make you a happy person.  At the same time, you must live here and now.  It makes no sense to postpone your life for the future, we are all mortal and do not know our future - we must live in the present.  

You should definitely buy yourself comfortable sneakers and periodically please yourself and your loved ones with purchases of new things.  

You need to challenge yourself - this will allow you to earn more than you earn now.

The more interesting ambitious goals you have in life, the more motivated you are to make more money.  And the more money you make, the more Bitcoins you can buy!

I'd still saving even if I had a chance to be in that phase. I bet even richest people out there have savings in case something bad and fatal happen in their life, savings are a must if you at least want to be safe in your financial decision. Sure, you may not need to worry about your money because of your job or the way you obtain the income but let's be real here we don't know what would happened in the future and so many cases have been published in news where rich person could also get dragged down to be a poor because of some reasons, just be aware.

Those bank interests, you shouldn't expect them to give you much profit. They're the ones who earns a lot of interest from your money and they'll only give you a very tiny portion of profits they've made. The purpose of the banks for those anxious with money is just to be the safevault, as in. They just have to go there if they need money and withdraw it from them and go back when they've got money ready to be deposited and let them alone use it again for another lending business that they're doing.

When we start to make money, we tend to make more and desire more. That is because part of our human nature that we're not content but going with some reality, it's also because we don't know what's with the current situation of the economy. Lucky are those people that have generational wealth and not just that, they've also inherited businesses, investments and assets. Today, we might have a lot of savings but if inflation hits it, the value of that savings won't really matter anymore but if you've got also the latter part, you'll manage to survive.

Even myself would really be in such condition would definitely be having those savings even if im rich or im that wealthy.We dont know on what happens next in our lives which it would be just right that you should
save up at least because no one really knows on when you do have those riches would last but of course not all would really be mindful about this kind of disaster on which they do really still believe that they could be able to withstand on whatever difficulties that they would be facing up ahead specially when it comes to money. No one really knows and this is why we shouldnt really
make ourselves that too confident.

Everyone should have savings so it doesn't matter whether it's for the rich or the poor, if the rich don't have savings because they are very wasteful to shop and spend money without setting limits on using money for daily needs. Like you said that our economy will change in the future so we need savings for unexpected financial preparations, so it's very important to save even though you are rich people have passive income from your work but our future never knows because many of the rich people are now have fallen into poverty because they have no savings to continue their business.

Agree. We need savings for urgent needs or unpredictable things in the future, it is not only about daily needs. When we got sick which requires a lot of money, we spend our savings. We also may use our savings for the educational purposes of our children. Don't forget that education costs are very expensive nowadays, in my country only rich people can afford to join favorite schools. Low and middle-class people can't pay the school costs if they have no savings. Even rich people, also need to spend their savings because the favorite schools have varied programs which require a lot of money. So, it will be difficult if we have no savings.

My thinking is that you cannot be wealthy unless you have quite a bit of savings. Now, a different thing is that concept of "saving" which for the wealthy should really mean investing wisely with adequate risk and adequate returns. Having good earnings is just the beginning of creating that wealth and that asset base that generates passive or semi-passive income and makes long term wealth.

It is as a results  of your savings that will make you wealthy I believe all wealthy men in this life had to make sacrifices by saving
Our income are put into place that will yield so that there will be enough tomorrow. Our main essence of ma King money is to be rich and always remain wealthy and this can be achieved by saving while we have the money
Your savings can be of help tomorrow when challenges like payment of school fees or hospital bills arises

It all comes down to how much money is enough for you at the end of the day. Most people in this world are greedy as hell which is why they are never satisfied with what they have and keep wanting more.

The minority which includes me can control their greed by trying to reach a specific target and being satisfied with it. Reaching that target takes hard work, luck, dedication etc which is why reaching it is usually not easy.

This logic applies to everyone irrespective of how wealthy they are.

What keep the rich people wealthy is their savings culture and their versatile business orientation that they work with time to time, it's very easy to get rich but maintaining it is very difficult because if you were once poor and becomes rich, you wouldn't want to taste any bit of poverty again and what you must do is to ensure you make the best utilization of every opportunity placed ahead of you for being rich and manage those resources, save up and make divers investments.

Yes, I agree with what you convey, that the rich will always save and definitely save for their wealth to live long and as a form of maintaining wealth, regardless of greed and/or not being enough as human beings, everyone definitely wants to pass on their wealth to their offspring so that they live properly, that's what makes rich people keep saving and maybe the threat of rich people is bigger than people usually when they lose money or assets that are owned or businesses that may need more funds to cover losses and that requires a savings fund for that kind of thing However, it is necessary to realize that saving for the rich and ordinary people is different.

There could be many thoughts to this. Primarily one can assume we are so rich that we can keep spending all the time. However, there would be someone else who might put the money at work and keep multiplying but at the same time keep enjoying the life by spending it.

Now, there could be another thinker who would use money wisely. He may not spend it vigorously but smartly. For example they may think about their generations ti come. The family which is prospering under their roof. They might make plan to leave handsome amount of money behind so that their children’s and their children’s and may be further gen can enjoy it as well.

It’s up to you how you wanna use the wealth you have. You got all the options. Also don’t forget, you can spend as much as you want but money is something that never makes you stop spending it.

I wrote about this before, it should become a habit, no matter what level of wealth you are now. When your level of wealth is low, it is understandable that you will find it difficult to save any significant amount, but you will be able to develop a habit. For the rich, this will be easier because they are likely to have significantly more income and have more money left over, so they will need to deal with the issue of investing funds, but they will also use this habit so as not to spend everything they earn.

If you wanna generate easy money, you should keep saving even if you feel rich. Every penny/cent you save will return you more money in future if you use it in smart investment options. Bitcoin, Gold, Silver, other stock market options etc. I always say that I wish I had more money when I was younger. I was very poor. I needed to save a lot to become lower middle class. In other words, I owe anything I own to saving money and my investments. I suggest all people around me to spend your money wisely.

Some people are born rich, so they never experience any need, I think many of them will never spend all the money they have. As for people collecting money and goods throughout the life, they are eager to have some money, since most of their goods are bought after collecting some small sums. They collect, then buy, then collect at a higher rate because of higher income and so on... The other problem is the currency to collect, since now most currencies including dollar are not reliable enough, especially in long-term savings... So I assume now the property and items of high quality are real values which are worth collecting.

Now there are many options for saving, one of which is in the form of investing in bitcoin for example. But the problem is when we are young we don't really realize this. For example, I didn't realize that I had to start saving at that time, and I preferred to enjoy money and even used it for useless things. But at one point I was having a hard time financially, at that time I thought maybe if I save money when I have money, then I won't have a hard time. Indeed, sometimes we need to feel difficult things that make us aware.

I agree with you Bitcoin is the truly the shortest and less inflated route to becoming financially successful in the short term and both long term just as you rightly said take Bitcoin as a sole investment and in the next 10/years from now you will be in a financial state that only you can understand but to others is maybe extraordinary.

Take those who lay down a few bucks 10 years ago, they are currently in a free financial state right now, with the number of gains they have made from that little investment,  inflation could affect any other class of investment,  but Bitcoin will remain an edge over such inflation.

Saving is good but saving to be rich doesn't get you rich.
Rather saving for investment is what gets you wealthy. It is called - using money to make more money. This is what the rich do.
Proper budgeting will help you to have a proper balance between your savings and your expenses. You will be able to spend without worrying about overspending and you will be able to save without worrying about underspending. Besides, if you have your budget and still there is no balance between your savings and expenses, then it may be that you have an income problem. Another source of income could be the solution.

I think the wealthy would quite agree that one would have cultivated a good savings habit inorder to have amassed such wealth. Even when the reality that one is wealthy strucks, the habit of saving would become like a second nature.
Most bank apps and exchanges have come up with good savings program these days to aid its customers cultivate the savings habit, like Opay.
Opay is a banking application used to facilitate payment transactions including withdrawal and transfers and helps its users save a fraction upon completion of transaction.

The headline of the thread is a bit of a weird thought. The majority of those who might be considered wealthy have worked their way up and earned it, at least you would hope, so they've learned the true value of money along that journey. They will definitely have a small pot of savings, readily accessible and "liquid" cash, available to them - or at the very least they know they'll be able to sell off some assets quickly, whether that be gold or stocks. The vast majority of wealthy will have their money invested in the most reliable generating asset around, the stock market, which for centuries has been putting money to work inside companies and paying out the owners (shareholders) when the profits roll in.

It depends on your situation. And saving is not a bad thing, and it doesn't require same amount of money every time, and also it doesn't have any particular time period in which you would put that money in your savings account. Save as much as you can, but also do not hold back when you really need something. We never know when we will die, and also don't know when any emergency situation will occur.
Keeping those two situations in mind, keep spending and also keep saving,at the same time. So that you can be prepared for any situations. Also, die without regrets.
Even when you are rich and wealthy, you need to have something for the emergency situation too. It is always the best choice to save no matter what.

In my opinion, saving money (denying yourself the pleasure of buying a comfortable and beautiful thing) is a very dangerous life strategy. 

Money is made to be spent, that is its main function.  Everything in our life is regulated by the law of equilibrium (in the science of cybernetics this is called negative feedback).

If you deny yourself the bare necessities, seeking to accumulate the treasured tidy sum of money, then in fact you begin to struggle with the law of balance.  And it is very dangerous to fight fundamental laws.  There is a high probability that in this fight you will suffer a crushing defeat.  You may even get sick or depressed. 

Instead, you need to allow yourself the small joys of life (vacation in other countries, beautiful clothes, delicious food, a brand new smartphone). 

This encourages you to look for new sources of income.  And most likely, after a while your income will grow.

As I've written a million times over on this forum, especially in the Economics sub board, please only take advice from someone who's licensed to give it.  I'm not saying you have to be a financial advisor to be very good at finance, or giving financial advice, however unless one's licensed, how are you going to know if they know what they are doing or full of shit? Also, someone having a lot of money or hitting big on an investment or two does NOT qualify them as knowing what the fuck they're doing..so let's just make this clear to start.

Now to your questions, there's a million counter questions.  You're kind of all over the place with what you're saying but yes, you should be saving even if you're worth hundreds of millions...(saving can also mean investing).  Money can run out quick, and plenty of multi-millionaire have gone broke very easily..you never stop investing/saving!

Nah. You are wealthy as a result of your investment in reputable assets with good liquidity, particularly Bitcoin. The idea of saving to be wealthy was years ago when the government haven't printed an excess of fiat currency.

Yes, income putting in place or investment that will yield is a nice one.

rich people have gone through many processes so that they can become rich and it is closely related to saving, someone will not become rich if he has a wasteful nature.
and as you said, of course someone who is used to saving will continue to do so, especially if rich people are people who know how to manage their finances well.
and the statement that people who already have a lot of money (rich people) don't need to save money anymore because they have a lot of money all the time, I think that's wrong because everything is very likely to happen in the future so it's required for someone to prepare bad things that will occur.

Unless he just got rich because he won the lottery, which is probably the case, he will still lose it all as he has no knowledge of how to manage his finances. For sure, all rich people are able to become rich unless it was inherited that they will save and invest in something; it is really in their minds that they should always save; it doesn't mean that they are rich; they will become lazy in saving mostly if they have more money coming in than coming out.

     -  If a person becomes really greedy, he will have no savings for the future, because the only ones who can save or save are those who have the qualities you mentioned such as hard work, self-discipline and self-control. do it correctly and properly.

But if you don't have these good qualities, for sure, even if you're rich, you'll end up just like those people who struggle to get money in life.

For me it is very unwise if people who feel they are already rich no longer need to save, because any money or assets that have been saved will always be used up if used repeatedly even though it takes a long time to spend it all. But I think everyone still has to save even though they are considered rich by others or considered rich by themselves.

Because the goal of saving for the rich is usually slightly different from the goal of saving for the poor, because the poor are clearly saving to get rich, while the rich are saving to open a new business in some places they like. This means that saving is part of a good process with each goal setting and every good process will never be in vain if it is done repeatedly.

Savings can be not only boring, if you will thank yourself for achieving your goal, with some kind of gift, than what you longed for. It should always bring some positive results, otherwise it will become boring and quickly get bored.

The richer we are, the more opportunities the money that we save from our income can give us, because this will create even more cash flow. The more money you have, the more you can earn.

Saving is a necessary step when your monthly income exceeds the calculated returns from your investments. Of course, the bigger your paycheck, the quicker you may cease saving. When all your assets can generate more income than your salary, it's time to invest.

Suppose you aim to invest in a company that guarantees a 7% monthly return. Currently, you're earning $2000 per month working for a company, and you have $10k in savings.
If you choose to invest your $10k savings, you'll only earn $700 each month. This is significantly insufficient to sustain your life (in a big country's average standard).
You need to have at least $30k in assets to generate a $2100 income without working, which is the investment target to aim for.

Save until your assets are ready to be invested.

The rich will always diversify their funds from other investment that means savings isn't an issue to them infact interest earned from various fixed deposit in banks is enough to serve as savings, while the poor saves for the future not necessarily to become rich afterall how much is their monthly income to even have extra funds for savings? The poor can only save little of their income and accumulation of the funds wouldn't make them rich. It's take extra effort in term of establishment of business and  expanding to thrive thereafter the owner will become rich or other form of massive investment.

Even if you have enough money to buy anything you desire, you should still set aside even a small portion of your wealth for the future. If you still want your money to work for you, you may always keep it in time-deposit accounts or on accounts that build interest over time (certain government-backed investment programs do this). Better to be safe than sorry because you never know when all of your money will be spent or when your investments will suffer. Furthermore, when contrasted to what you are actively investing in and increasing your money on, what do a few hundred thousand or even a few million dollars tucked away really mean? I believe it won't harm you if you keep it for security reasons.

No matter how rich a person is, they must think about their future and I'm sure that rich people are wise people in managing their money, regardless of the choice of investment or savings that they use and want, of course everyone wants to have savings and that's very important.
and for me personally, even before I was rich I had prepared small investments and savings for urgent needs in life, it's all about thinking in the future.

I know that most wealthy people in the world have savings, but what the savings is meant for differs according to their scale of preference. What distinguishes them is their investment plans and action

to become a rich person and have everything, of course, has a tiring struggle and many processes to go through. and not as easy as turning the palm of the hand.
people who have more finances, of course, still use a frugal lifestyle, that is, they still save or continue to invest so that their financial value continues to grow. and it is done by people who think clearly .

Yeh mate, your question is very funny because I know that everybody who is very affluent should save money because saving is just another way of protecting oneself, if you save money today money might save you tomorrow.
In my observation, both rich and poor people are trying to build more assert for themselves self and their families so their children will not stay poor, and talk more of the poor ones.

The concept might be how ready are you to spend capital to do business or investment and the question is where do we get big capital for it all? to people who want to start a business or investment.

It is impossible for a low-income level of society to build a much better financial level, unless you try hard to use old savings for business or investment. Not against it, but it's hard to achieve a strong level of financial returns, when so many people are faced with the problems of economic turmoil like now.

So true. The bigger the money we hold, the more opportunities we can enter with that money. and the opportunity to earn more income is also higher. that's why the rich get richer. And they also sometimes have ambitions that are much higher than the habits of ordinary people. And somehow but sometimes the hobbies they run also make them earn more income. but what is clear is that the rich are more diligent in saving but they are also good at turning their money around.

In my own estimation whether you decide to save now or when you are wealthy the crucial thing to keep in mind is that you must have a financial goal and plan. It should be realistic and be backed up by pragmatic action. And do you know one thing with being wealthy is that you have to keep fighting to stay wealthy. To firmly secure your financial future. And this can be achieved not just through saving but also through investing.

Those latter parts are for real.

The wealthy peole are having no chill with what they currently have. They keep on grinding and working smartly to preserve their wealth because they know that it can be gone too quickly.

All of the wealthy people that I've seen that's into an interview, they have the same words and common tips about making money and being rich. It's all about investing that needs to be highlighted and that's the reason that sent them to riches.

Bro, creating a fortune with no support from parents like in the form of money, support, and property in these severe economic conditions seems almost impossible. And i can genuinely understand your condition because i also do not have any permanent job other than doing work here on BTT, and i haven't used a single penny for personal needs. Like, my laptop is not working due to a fault in the charger, and one of the keys on the keyboard is hard to press even after repair. Pixels on my smartphone are broken from one side that sometimes my phone auto touches itself. These are the severe needs that i know i have to fulfill even though i am wasting my money on many other things. which indicates that you should save your money when you are wealthy but also should fulfill your needs unlike me.

I have some advice for you even i myself don't follow it but i have reasons, and the decision depends on facts and figures so that you will not regret it after. Which is, you should not depend on only BTC to become rich because that could be full of disappointments for you even if you have 2 or 3 BTC. if you have in tens then that's good but i don't think so that you have in tens (no offense). You need to get a job where you can learn skills to start earning daily from clients. you need a progressive mind to become rich, first set a target to achieve then make a plan and strategy and timeframe for it then start it. This will increase the rate of success. You should get ideas from influencers' life or by reading books.

It’s my habit to save money,when I had huge income from different resources.It’s recommended one to all of you.Because by saving huge money,you can live the old age with peace and no need to depend on your son for your expenses.You can live like a King when you have enough savings on your bank account.In current world,we are need of more electronic gadgets apart from the basic needs.We need of mobile phone,all the people in a family will have separate phones.So we need to spend huge money to buy mobile phones.We need of motorcycles separately to all the people in the family.So it added another expenses apart from the basic expenses.After all this expenses,one should save some money for their future.

Saving keeps a person financially secure to some extent. But I have never seen a man become rich by saving until he starts investing. A man usually sets aside a small portion of his income for saving. Nothing big can ever be done with that money. But those who decide to invest slowly from now on can be known as good entrepreneurs after some time. Again there are some people who are not interested in saving or investing even though they have enough money. According to me when a person is financially sound then he should invest in various financial activities.

from the perspective of someone who is living with this kind of country's environment, i can guarantee that this is true. well, to be exact up until recently did our government's decided to start doing campaigns as to how to manage our financial earnings. before no one would care less about where do you put your money or what is your method of saving your money, while some have their own personal savings literally like a piggy bank they kept for years only to find out their money is no longer accepted even on the highest central banks in our country. our ancestors always remind us to save, and yes there are some who followed that advice like i've said earlier only to end up regretting in the end.

Saving and investing is what had made many persons we see today rich and wealthy. The market has it own risks and what could make us immune to that is when we have savings that can boost our businesses when the necessity comes onboard. When we have huge amount of money in our portfolio, we are nit going to bother ourselves in bank loan that can be very detrimental if we get the loan from bank and our business still crash out due to lack of funds and market inflation. Since fund is needed for anything we want to do, then there should be a right time for saving.

I seriously agree with you no matter the amount of money in anyone's possession I always advise them to save I use to make reference to when I was in elementary school having a piggy bank and developed the habit of saving no matter how little it is, this has saved me several times and I think the fixed deposit is also a very good idea since there is interest attached to the whole saving and you won't have free access to it which is the goal you can keep topping it hope then at least at the end of the year you can withdraw your profit and keep the business going.

Everyone wants to achieve financial freedom, how is the process and when will it happen, no one knows, because many factors influence it, such as information obtained, experiences that have been passed, relationships and so on.

It is certain that people who are now rich are of course people who are diligent in saving and good at investing since they have not become rich. so if they are rich then I think they are adept at managing their finances. and they inevitably become more to invest and save. well because they also know that spare money, savings and investments can make them further expand their company.

Ofcourse those who have the tendency to save and invest they should do that for their future .
Investing and saving is very important now for a good and easy life and to secure a better future for yourself and your family .
The poor and middle class don't have this facility to save as they struggle alot to meet both ends.

Saving is very important whether you are poor or rich, we don't know how our life will be in the future, whether our business will go bankrupt or we will no longer have a job - having savings will create a guarantee that when bad things happen it won't make you you fell too deep, at least you still have savings that you can use to open a business or find a job or meet your needs. I personally have always been saving on fiat, gold, and bitcoin. Every month I always increase this savings and will use it when the situation is very urgent.

We all need to save for the future, but the term wealthy emerged gradually. I advise you not to save when you have financial issues; rich individuals save so that even if their financial resources are limited, they can still meet their financial obligations, which is critical.

In my opinion, the greatest approach to save for a long time is to invest your savings in bitcoin; whenever you have a small amount of money saved, you should acquire coins. That will be better because the money will increase.

Give a fish to a man and he'll eat once, teach a man how to do fishing and he'll eat forever.
This means that if you want to live a better life in your future, you must sacrifice bits by bits from your present to save and invest your money and grow your wealth gradually and enjoy your retirement early. It is not easy to learn how to save or invest, but to spend, consumers have various choices to go for. However, it is not recommended to keep spending your money that you get from any sources because you will not be left with anything to invest on and if you do like that every time you will never be able to invest and secure your future.

No matter what financial situation people are in, they think about their future. Thinking about their future, they keep some amount of their earned wealth in savings. Those who have huge amount of money but think about their future.  And thinking about their future the amount of savings they have but always try to increase their savings. 

Assuming I have a significant amount of savings now and I am earning regularly I will put whatever money I earn into my savings that is left over after spending it in my daily life. That is, no person wants his wealth to be wasted for no reason. 
In order not to spend their money for no reason, people save the money left over for their daily expenses for the future.

everything really needs process and learning. persistence, hard work and consistency are the determinants of our efforts will meet a bright spot or not. but to achieve financial freedom, we must be accustomed to saving and investing from an early age. because people who have wealth and financial freedom now are those who have been thrifty and saved and invested all their lives. so that when he is old he lives to enjoy his toil in the past. and I think rich people will always be diligent in saving even when they are rich. because they want to pass it on to their descendants later.

Whatever your life circumstances, I think saving is a good thing, this will really help when you are facing difficult times in your life, and you never know when those difficult times will come. Trying to think long and hard because we don't know what will happen in the future. no matter how much money you have it will run out if you can't manage it. With the development of increasingly sophisticated times, for now, I prefer to save in Bitcoin because until now I prefer to have full control over my finances.

I understand that sometimes saving can be difficult and exhausting. However, if you want to achieve your goals and become rich, saving is very important. It is important that you have a plan and a specific goal to save money. One way to help you save more is to create a budget for your expenses. Or you can look for opportunities to increase your income, including looking at other investment opportunities like real estate or stocks to increase your income and increase the value of your assets. Finally, and most importantly, you must have patience and persistence when saving and investing. This is a long process, and you need to have a specific goal and a plan to achieve it. If you persevere and don't give up, you will achieve your goal.

Basically, the poor and the middle class also have the opportunity to save and invest, it's just that they have to do it in a slightly different way than the rich do. Because besides they have to struggle to live everyday, they also need to think about their future by following the steps taken by the rich slowly. Because today's rich people also struggled in the past when they were still poor, but because there is a will to be rich, they always struggle to save and invest more enthusiastically.

if there is a strong desire of course poor people can also save and saving is something that must be done in life because we do not know what will happen in the future, saving is very important.
the difference between poor people and rich people saving is that poor people will refrain from fulfilling their desires and choose to save, while rich people only set aside a little of their money after meeting their needs.
and even many rich people save in their own way such as investments or deposits.

Maybe sometimes I take a stance on my selfishness if I ever get rich. Then maybe I won't be able to save because you have to enjoy some things when you are rich, because life is not always rich and death can come at any time. It doesn't mean squandering, but when I'm rich I don't need to be so hard on myself when it comes to saving.

I agree.  I have a family and 2 sons, I have a stable job and I want to accumulate more for my children by saving and investing in bitcoin.  My situation is difficult and I learned to save from a young age.  Before I had a family I just worked and saved but then I realized that inflation takes away what you can save and it's better to invest it in bitcoin.  That's what I did to find a future for my family.  Pretty sure if I were rich, I would still save because it's shaped out of my living situation as it is.

There are very few people who have become rich through savings alone. Though a person can get a large sum of money in a specific period of time. But those who focus on both saving and investing can usually become rich in a very short period of time. When a man becomes conscious, he develops a power of prediction which helps him to become rich in the future. I always emphasize on saving. A man must save both before and after becoming rich.

There is one condition if we are rich then we don't even have to think too much about saving. well we can enjoy life freely without worrying about money. and this is called financial freedom. but not all rich people have financial freedom. most of the rich people are still busy with the world of business. in fact he had very little time to relax. Well, but there are people who are really rich and they also have financial freedom. and people like this tend to prefer to enjoy life and even those who focus on their hobbies like traveling the world. and well I think this type of rich people ( who already have financial freedom) then they probably won't really think about saving too much. because they are no longer worried about financial matters for the future. because they already have a lot not worry about running out. because its assets continue to grow and develop.

Actually that is an acceptable way to see and manage wealth, because life is short and all we have left in the end of our life when, we get older, are those memories we managed to get, thanks to the money, family and friends we had.

The question is whether you would be willing to leave money behind for your children and your immediate family and if so, how much. Generational wealth is important in the eyes of many but not so much for those who do not want to leave an easy way for their children without them having to work for it.

depends if you have steady income which also quite high or not, honestly if you're rich you don't need to save because you are rich, and i'd consider rich, but even richness have level, if you have $10 above, i think you should still moderate your spending otherwise your money will gone in no time, i'd say, if you also have good steady income that is relatively high enough then forget about saving, just live your life to the fullest but of course investing some portion of it will never do you wrong, instead it will do you a favour.
but honestly even if you have hundred of millions, wealth management is always essential, you never see billionaire just wasting their money buying useless things.

When you're wealthy it is advisable to make use of the wealth and increase the streams of revenue. With this it is possible to make better income that can be further added as savings. Savings is the key to the investment, and financial growth of common people. One need to be perfect with the choice of saving and should have the understanding about the advancement happening around.

Savings would benefit the user, and the upcoming generation to some level, beyond that it is the investment that makes them rich or reach the next level of life. So, it is good to give similar importance to savings and investment.

Saving and investing are two completely different things, you can't lump them together, and bitcoin is a highly volatile asset. When you put your money in it, it's just called an investment, not savings. What happens when all your savings go into bitcoin at $30k, and then bitcoin gets dumped to $15k, and you need money for life? Savings are for emergencies as well as urgent needs, so it is not placed in a volatile asset class like bitcoin. Both need to be kept separate.

I totally get it! Building wealth is a journey, and it can be tough to figure out how long it'll take. Some people keep saving even when they're financially stable, while others reach a point where they don't have to worry about money. It's different for everyone. You've started taking steps, which is awesome! Having bitcoin is cool too, but try to find a steady income source. Balancing saving and treating yourself can be a challenge, but creating a budget can help. Becoming wealthy takes time, but set goals, make a plan, and stay committed. Keep learning, seek advice, and with patience and smart choices, you can work towards your financial well-being!

All of us want to be free from financial problems, and nowadays there are many ways to do so that we can enjoy life without any burden for finances that we face today, before knowing bitcoin saving is indeed one way to prepare us so that later in the future we can be free from financial problems, but now I am more sure to invest in bitcoin because bitcoin can indeed give us a surprise in the future Ahead, so now never hesitate to continue to collect Bitcoin, so that later we can enjoy life without thinking about the problem of our hudup costs that are always not met properly, rich people must have investments so that the assets owned continue to grow until old age later.

As a wealthy person you don't save money because of inflation, like about 5% more or less purchasing power of the money you save in the bank will be lost to inflation each year due to the continuous printing of money , for instance imagine losing 5% of 1 Billion dollars you saved, that is like about $50,000,000, that's day time robbery and huge some amount of money right?. So Instead of saving money in the bank and slowly lose it to inflation I would rather invest it into Bitcoin, Gold and Real estate because these assets increases in value over time ,so to maintain or increase your status you need put the money into work  in order to bring money and not to save.

I am also like that, I chose bitcoin as a saving or investment option for a very long time. But I don't just put it in one pocket, but I also have savings besides bitcoin. For example, when I want to save 30% of my income, 20% I set aside to buy bitcoins and another 10% I keep as reserve money. Because for me, when I put all my money in bitcoin it will also be a risk, because I don't know what will happen if at any time I need money. It is an advantage if when you need bitcoin money the market is in a bull market, but when it is a bear market, there will be a dilemma too, whether to sell or not. That's why I divided the place for my savings, so that I can avoid that risk.

Only wealthy people Can save or invest depending upon their priorities in life ,poor or middle class ant do these things they hardly cover their expenses with their income.
Saving is good but investing is better to increase your wealth.

So that's why many rich people always choose to save their money in the form of investments. because they know very well that if they keep their money in the bank then inflation will eat away at the value of their money. And they avoid this and choose to save their money in gold and invest it in stocks, property and the like which they think have the opportunity to develop the value of their money and are not affected by inflation.

and the steps you take to prefer to save in gold, crypto (bitcoin) and real estate are also the right steps. because at least inflation doesn't really have an impact on gold and the value of our assets can grow in bitcoin and real estate. as long as we invest for the long term.

Saving money, of course, is something that all human beings need, I'm sure almost everyone has an account in a bank because without banks it will be difficult to save money, saving, of course, aims to provide security for the money we save, because banks are fully guaranteed by the state so there's no worry.

Saving money doesn't only apply for the unwealthy people but for all.
No matter how successful you are right now if you don't manage your money too well it would only last for a short time.
There are so many good example of it, there are so many successful people around the world that ends up losing it all.

That's right.

They're making their money work for them. The cash is still there but you'll only see a portion of it to be little because most of their wealth are in the form of assets, investments and other income generating businesses.

That's a very typical thing for the rich people because they know how to work smart and how to make their money work for them. While we're not as big as these wealthy people, we can also do the same thing in every little step that we can.

This falls under the category of an emergency fund, which proves useful in times of urgent needs. OP's concern lies in wanting to break the habit of saving and start a life where money works for them. Believe me, there is no instant way to reach this point, even if you consider negative approaches.

If I may offer a recommendation, I suggest OP seek out a financial expert for consultation. Although the monthly income may not be substantial, with careful planning from a professional, there will certainly be a way out. Human knowledge has its limits, but when viewed from different perspectives, knowledge from various angles opens up our thinking.

Saving/investing is a must for every human being, saving must be implemented and done early, no need to wait for that age, the right time, you can do now and so on, saving is a positive upbringing for children, adults and so on, if they want their economy to be better in the future, that's the importance of saving.

In my opinion, you need to read and consider some Tips for Saving Money in Your Daily Life (https://www.thebalancemoney.com/save-money-every-day-453945), in order for you to be a successful person to do that.

Remember talking about saving is easy, to do it is difficult, hope the tips above can help you.

When we have not been able to achieve success, saving is a way to accumulate money in order to open a business so that we can feel glory, and people who are already rich today they do not stop to continue saving until later until their old age, and at that time they just enjoy the results of their savings without having to work at their old age, And now there are very many rich people who have invested in various places including in the crypto world, and they believe there is a time to enjoy all the results they get later.

Even the poor can save, no matter how small it is, or like cents, it is still savings because you are putting it aside for the future. But talking about who is going to accumulate big savings, that is very different. Yes, the poor or middle class have a hard time saving because of our expenses, but even with a small amount, even those who are jobless can still save,  as long as the amount does not matter. But the problem is that if your goal for that saving is huge, like, let's say, buying stuff to start a business, it will take time or be difficult to reach because you are just saving a few cents, unlike if you really have a high income or spare money, then you can accumulate it in a short period of time.

To save a significant amount of money depends on many factors such as monthly income, cost of living, level of savings and return on investment. However, to achieve significant savings, you need to have a clear savings plan and stick to it. If you're saving now, keep saving by cutting unnecessary spending and looking for high-yield investment opportunities. If you are not yet able to live without any financial constraints, look for ways to increase your income by looking for a side job or small business to increase your income and at the same time save on expenses.

No matter how rich or high income you are, we still need to save to ensure a secure future and more peace of mind in spending. Savings can help you build and accumulate a reserve, invest for the future, or simply cover unexpected expenses. Furthermore, saving helps you maintain a responsible lifestyle and reduce your dependence on loans or uncertain sources of income. So, no matter how rich you are, you should always put saving into your habit.

I guess if it's just stacking paper money, it won't be big in the future. if I'm rich, I only want to have enough money, but I also want to have a lot of assets or a business that can attract that money so that they keep coming endlessly, it's like I want a fast turnover of money rather than I have to accumulate wealth. if I have to spend a lot of money on something useful I will do it without objection. I try not to stand out as a rich person, because my motivation from some of the giant companies whose owners are included in the ranks of the world's richest people doesn't stand out too much.

Saving is important because you don't know what would happen in the future if you don't have one,  but the way you manage your savings are different story. You can't just accumulate your savings like that because of inflation depends on your country's situation, it would be better to relocate the funds to open some business so you have some money rotation going on in your financial records. Sure, it's not for everyone because managing a business is a difficult task to do and many people already failed to do it, but once you know what to do then it's a long journey from there.

everyone is different and I think your wish is very good and right, but we must first understand what rich means if it's just a lot of money. rich people will continue to develop their business to continue to grow so that it is possible for them to continue to be able to increase their wealth.
I also think so, the most important thing is building assets but saving is also important even that is very important for those who want to build their business in the future because any business will happen unexpected things and to anticipate things that are not desirable big money in the future namely by building from an early age.

Rich people can save and invest simultaneously at their preferred priority, but that doesn't mean that poor or middle class people can't do this. because those who still live simply or in other words are the middle class can also invest and save simultaneously, it's just that the amount is smaller so that the level of profit and collection of money through savings that they do is also less when compared to those who are in rich level.

Even though those whose life class is still poor or middle class must always struggle hard when they want to do something simultaneously in their life, because they also have to always think about spending and saving first so they can invest on different days. So actually rich people and middle class or poor people can do the same thing though not at the same time or in a way that is slightly different from the way used by rich people.

A person's wealth cannot be measured in just one standard. and according to different versions they will also feel "enough" or still lacking in terms of the wealth they have now. some people prefer to accumulate their wealth rather than spend it. I think this is exactly the wrong thing because they are accumulating something that will make it inflation in the future. it is good to use it more in terms of sage or even helping the poor.

Managing money wisely involves finding a balance between meeting your needs now and saving or investing for the future. While it is true that excessive self-denial can lead to unhappiness, it is good to exercise discipline and avoid unnecessary or impulsive spending. So the wealthy often have a financial plan in place that allows them to both enjoy their wealth responsibly and make strategic investments. They understand the importance of maintaining a sustainable financial strategy to support their long-term goals. So achieving financial success involves finding the right balance between enjoying the present and securing the future. This balance will vary based on each person's personal circumstances, goals, and values.

That's what we're strategizing when we're about to open up a business or an investment. We save to invest and to start a business and that's how it goes. While it's true that the rich keeps on saving, they're also keeps on investing. And that's how they afford a vacation at most times while they're already old.

Right, it's like suffer now and enjoy later. That's the logic behind it and everybody would want to have that type of life that they're not struggling financially and enjoys everyday of their lives.

You arent wealthy unless you save, however you cant save plain cash as its losing value often.   But to have savings is generally going to include stocks and bonds beyond plain cash I think is fair.  Some say their house is their savings I dont disagree with that though variety is required, a few would say a house is a liability not savings but depends how you play it as you can improve a house which is a form of self improvement I think in the same category as savings imo.

When you do save because you do have that goal or target then you should really be having that realistic approach on which it would really be just that normal on which you cant build a business or having investment with having that $1 savings per day on which it would really be just that common sense that on whats the limitation that you would really be having. Should you save for investment and emergency purposes on which it would really be just that normal that you would really be doing such stuff.

Being wealthy doesnt mean that you wouldnt be saving up because we know that we cant really be having that funds forever or something that called unlimited funds.There would really be a time
on which we would really be having those lack of funds because of certain circumstances on which it would really be just that right where saved funds would do its job or its purpose.
This is why whether we are poor or rich then savings or money that would or should be kept is really that important for some future purposes or usage.

Saving money when you are rich, help you to build a standard foundation that will make your wealth not to reduce than to keep improving because you have made a good decision to save on Bitcoin which is the best way to maintain a wealthy life. As long am still alive, I will continue saving my money on a potential coins that will make me feel better when am getting old so that I will not find anything difficult to get when I want it in the community. Both poor and rich men is good to save in Bitcoin so that whenever there is a massive inflation in the country they can fallback to their savings to get something good.

If we are referring to a house as a property, it can indeed hold value as a form of savings depending on one's purpose for purchasing the property. The current rise in property prices is influenced by factors such as monetary inflation and the surrounding environment. This means that we can consider property as a means of preserving our wealth, and people often refer to it as an investment.

Every person needs at least one home for shelter. Additional homes can be purchased for savings purposes, or perhaps even for inheritance.

Buddy, you're hitting the nail on the head saying every nickel and dime holds value, regardless of how inconspicuous it may look in isolation. This resonates particularly when we dive into this 'micro-saving' trend, a financial tactic that's going viral on the web. The strategy's simple: steadily set aside minuscule funds, and like magic, it morphs into a hefty chunk over time.

But wait, there's this cooler phenomenon I gotta share: 'micro-investing', the new Internet sensation. Picture it as the swankier, much-buzzed-about cousin of micro-saving. Micro-investing platforms let you put your small stacks into the game that would otherwise have just been lounging in a savings account, gathering minimal interest. With micro-investing, even the smallest bits of cash can land a spot in the financial market, providing an opportunity to grow.

Yeah, saving's a crucial part of the money game, can't deny that. But I reckon it's time we warmed up to these contemporary financial moves that open up the market to everybody, irrespective of the size of their bank balance.

Saving is the hope of being able to make our future better, unfortunately many people don't care about saving so they spend money on things they don't need, apart from saving of course the most important thing is investing so that we have the opportunity to get big profits in the future.

Having a money-saving strategy can be thought of as a form of storing and allocating money. Without a proper reserve strategy, setting aside money for future use becomes difficult. Financial management skills play an important role in this process, as people who are well trained in managing their money are more likely to reserve and save in different situations. It is true that some people may lack proper financial management skills, which can make it difficult for them to save or earn money effectively. Financial literacy and the ability to make informed decisions about money management are critical to saving and earning money successfully.

Let's say if you managed to have a billion dollar then it's more than enough for living the luxury lifestyle for all the remaining days of your life but money making is a habit so one who is doing it well can't stop doing it further. We saw rich donated all their earnings to charity like Warren Buffett or they keep investing on new things to make the world better like Elon.

So it's like no matter how much we make its going to be not enough which means we are going to keep doing what we have done successfully.

The concept of "enough" is really subjective and varies from person to person. It is true that some individuals are motivated by excessive greed and are never satisfied with what they have, constantly seeking wealth and material possessions. However, not everyone falls into this category. Many people have specific goals and financial goals that they want to achieve, and once they achieve those goals, they feel fulfilled and satisfied. This does not necessarily indicate greed but a desire for financial security, comfort, and the ability to fulfill their aspirations. So the pursuit of wealth and financial success should be accompanied by self-reflection and a clear understanding of what really matters to you.

The wealthiest men on the planet somehow couldn't get enough. You can observe it from what they do because after having billions and countless properties, they desire power after. Look at the richest guy up there like Elon. Although he is rich, he is now beginning to turn to politics. Its never enough.

For people who starts now, I guess you just have to do what you gotta do. You'll reach up there if saving makes it but maybe also avoid over spending.

You are rich if you save. As if it doesn't make sense if by saving you can become rich. Saving is very important in case there is a sudden need in the future. And it's true that if you keep regular cash, it often drops in value sometimes. The mistake that almost everyone makes is to save their wealth in the form of movable goods such as vehicles whose value will drop dramatically at any time. And that can happen because they cannot distinguish between needs and savings, so keep in mind that a vehicle is a need and buy a vehicle appropriately according to your needs. If you want to save and the value continues to increase, you can store it in the form of immovable assets, such as several sections of land whose value continues to increase.

Perhaps the true saying is that you are rich if you invest. if you invest and understand the knowledge then your wealth will continue to grow, so start investing like buying bitcoin, crypto and so on. Without forgetting to keep saving.

Almost everyone actually realizes that saving is important to do. It's just that the majority of them are still many who haven't been able to get out of the habit of living extravagantly and buying things they don't really need.

A thrifty lifestyle is sometimes not easy to do when you are used to an extravagant lifestyle. It's just that it can't be allowed. And getting used to living frugally can be done slowly. that is, starting with getting used to setting aside money for savings, even if only in small amounts. but done consistently.

Op the topic should be "Shall you save, when you are wealthy?" And not Should. Now in "should "  probability, you are asking if the person saved when he was Wealthy. But by using the "Shall" is futuristic. If the person will save when he becomes wealthy. Op when you are wealthy, there is no need for you to save because you have already saved enough that is why you are among the wealthy. So planning to save when you have already gotten enough as wealthy man is an irony. It is only rich people save and not wealthy people.

Wealth is not a function of savings but of investment. Investing your wealth is a class of its kind. If someone decides to save their wealth then I see no issues with it as there are lots of ways in which one can save but creation of wealth at such stance is what is expected to generate more wealth. I can attest that the wealthy people are always ready to invest if the opportunity avails itself rather than savings, they are always at the helms of affairs looking for the latest investment to get involved with so as to generate more wealth rather than saving it.

Saving money is not a fast means of getting rich, when we have the opportunity to invest wisely our money. Most wealthy men live from the returns of their investment. Just like you pointed out a house. A man who rented out his house, yields more wealth while the other person that saved money to build a house to reside, is not getting any dime from the house he's built. So, if we spend our money wisely, we'll earn more money. Think about some websites that earn more money than a rented house, and the website owner didn't spend much money near to what the house owner spent in building his house. What do we gain to watch money stay idle in the bank, as if it was made to sleep in the bank. Investing money is like taking control gradually over our money. That doesn't mean we should spend everything investing money, no. But it's wrong to believe in saving money until we become weathy, that's risky for our offsprings.

A house can go two way, it can be a liability or an asset, it all depends on the purpose of the house, a house where you live with your family is likely more of a liability because you would have to continue overtime spend money to keep the house in a good shape, as well fix many parts that's are dilapidating due to aging..

But on the other hand, an apartment used solely for business, like a shopping complex, a shopping mall, apartments leased out/rented out for monthly or yearly income, is no doubt an asset because it is a major source of income to its owner..

This is what I think concerning a house either being an asset or a liability.

If you want to achieve your life's dream of financial success, you can't merely concentrate on achieving it by taking various investment risks that may result in rewards without understanding how to save money for rainy days in case your investment fails. People do not simply store money in the hopes of becoming wealthy in that way. They saved because, in the event of an emergency, they would rather utilize the money to tackle the problem right away than risk damaging their investment.

As for me, I do both invest and save simultaneously due to the unknown variables that can arise in both investing and personal life.

People are mostly talking about "even if you are wealthy, if you spend a lot then it will end so you need to save" but that has nothing to do with saving, that has only to do with spending, so the logic is "do not spend more than you can afford to" applies to someone with 100 bucks on their account, and 100 billion elon musk type of person too. If Elon Musk bankrupts twitter, sells Tesla shares and get out, and blows up a ton of spaces rockets, then he will be eventually poor too, yeah he will still do better than us, but he won't be who he is. Saving is different, I think you shouldn't save when you are wealthy, in fact you should be in minus, because when you are wealty, you could have 100 million in cash, and 150 million in debt, they will give you that as long as you spend that on something logical, I would rather see that a lot more.

No matter how rich someone is, he / she should keep save their money or assets. It can do by investing their money into stable assets like gold or anything else. So, although you are rich you should have idle and saving / investment proportional portion of your money.

Yes for me it is important to save even if we are already wealthy. Saving money can provide financial security and help us achieve our long term financial goals. It is important to have a plan for your money and consider how you can use your wealth to support future needs. One way to save is to create a budget and stick to it. This can help you identify areas where you may be overspending and find ways to cut back. Another way to save is to invest money in assets that can grow over time such as stocks and real estate. It is also to consider the potential risks associated with your wealth. Unexpected events such as job loss or medical emergency, can quickly deplete your savings. Having an emergency fund can help you with this kind of situations.

Savings is a very good idea because noone know tomorrow. Some people survive in their old age because they have save earlier

Savings can be grouped into two. saving to prepare for an unforeseen need, and saving to make that money grow. therefore try to save money used for investing, you should not use savings for daily life or savings funds to guard against sudden needs. logically if we invest without involving daily money it will maintain our psychological stability so that it is not affected by high fluctuations.

Saving won't make you rich, saving is a great strategy to help anticipate unforeseen needs that make it easier for you to access that money in an emergency. In the short term you won't make much money saving, but you also don't risk losing it.
Make money work for you if you want to create wealth, there are many ways you can do one of them by investing. Do with what you have learned because it is very important to your financial situation. Fluctuations in the price of crypto assets are normal, you must be prepared to take risks if you want to create wealth through the investment channel.

It is wise that one invest their wealth in something meaningful to generate more wealth or income if you may like and to talk of using a house as a means of savings, I would agree with you that it can go in two ways just as you have stated.

If one builds a house and calls it a savings then u would not argue with the fact that one built a living house because some people sees that as evidence of their wealth and therefore would want something to show for it which a house is not a bad option and in the long run, the house can still be sold out to get money from it which might likely not be same figure one used in building it to finish together with the maintenance costs but the truth is that the house saved for you some cash which was recovered through the sales.

Another is building a house for commercial purpose which I see as a direct investment to generate income or wealth if you may like. This could be in form of hotels, estates, apartments etc which one can use to generate income annually which is not a bad idea to go with.

So therefore, your idea of a house being a liability or an asset can be justified.

Savings can be one of the stages of achieving the goal, but not the goal. If you are able to create a source of passive income from your savings, then you can achieve financial freedom.

How long it will take, it will depend on each person individually, on his ability to earn, on his ability to create sources of passive income, on his desire, but I am sure that if you follow this, then everyone will be able to become wealthy at some point.

The one who earns well, but does not save anything, or does not create sources of income, in the end will only squander everything he has earned and be left with nothing.

I think saving is important, but that doesn't guarantee that you will be able to survive in old age by just saving money, you need passive income which can give you money regularly. investment can be the answer to this, because instead of saving money, you save stocks/bonds which can give you passive income or when you need it you can sell it to get fresh funds, and it can give you a bigger return.

or you can try to save on bitcoin assets and when you need it you can sell it quickly which can give you a much bigger return than what regular investments offer and with that money you can enjoy old age in peace.

In my opinion, if our income (salary) is still small, you don't have to push yourself too hard to save. but yes, we still have to save according to the rest of our salary per month. because there is such a thing as emergency spending later. then for investment, it can be for self-development and also for health. these two things are very important for us in the future.

don't let it be because you want to save a little because of small income, we have to live unhealthy. eating low-nutrition food that in the end all diseases come to us. expenses are even greater.

Saving will not guarantee us in old age. But the investment is risky and can even cause us to lose all our savings, investing is no guarantee we will generate passive income if our investment fails. Why don't we choose both? We have both a savings and an investment for the future. That way, we can limit risks as well as create passive income. That's also my plan for my old age, small savings and a few investments in bitcoin, gold.
For me, diversification has always been the most important thing.

Actually there is a wiser way to do these two things at the same time, for example if someone who works for a small salary in his life wants an investment for the future, then all he has to do is save to have investment capital which is then used when it is sufficient for investment. And thus he will not be so pressured to save because in the end he will also have an investment in his life even though he has to struggle with time in the process of saving.

Consideration of one's own health is also important in living life and work activities, but it is also not an obstacle for those who want to save money and want to invest in their lives through the process of saving. Because the way is certainly there as long as there is a strong desire and will within each one even though it has to go through a slightly longer process.

Saving is certainly the best solution for us, if we can save then we will make the future better, most people spend payday for pleasure so that when there is a problem such as illness or out of work then they do not have money and have to sell assets or debt.

We must be sure that the needs of life will continue to increase, if we don't save then we will experience difficulties, saving certainly makes the future and old age fun, but we must remember that the best thing besides saving is investing, by investing we can get extra income so that it makes our money increase or passive income.

Rich or poor, one should save money whenever he/she can. Saving only won't be enough though. You should also invest your money so it can grow. Otherwise that money will lose its purchasing power to the inflation. Buying crypto, stocks, gold, real estate... all of those are better than saving FIAT. It is even better if that asset is creating a streaming cash flow. Real Estate is great for that purpose because you can find a tenant and make a passive income. Lots of people self-retired that way. Why go to work when your assets do it for you?

actually if you can do it simultaneously it's very good, because saving with the aim of securing funds so that it can indeed be safe when needed. if you can do it at the same time as investing, it will obviously be more supportive, even though investing always has a risk compared to saving in a bank, the profits from investing are better than saving, of course. it is not easy and requires seriousness and very high attention if you want both to be done simultaneously.

If you're looking for a lightweight investment with low risk, start considering gold as an excellent long-term potential. In fact, gold remains a solid choice even if you're planning for retirement 40 years from now. Its value is unparalleled, and the risks associated with it are not as significant as those with Bitcoin. Gold has the ability to preserve value and withstand inflation.

Even parents who have little knowledge about investments can opt for gold as a better and less risky form of savings. You don't need to delve deep into studying numerous aspects to choose gold. While there may be news about gold, the inflation of fiat currency is far more severe.

The answer is yes because you being wealthy does not mean that your finance can't decline, it very important for everyone to save wether you are reach or poor, that's why the rich is always in search of lucrative investment because of the fear of being poor, the rich look for more money by investing in different things in other to keep their wealth by so doing they are practicing savings in disguise.

Because of the high rate of inflation in my country it would be very unwise to save money for a long term.
I do save money, but I do it to solve short term problems, like pay for house rent, buy a gadget, etc. And it usually within 2 to 4 months. Yea, there should be money kept aside for rainy days. I don't think saving is a bad thing, but saving when you can be investing that money is not prudent. Instead of just leaving the money to be sitting pretty in the bank, we should put the money to work. That money should be able to grow and bring more money for us in the long run.
Also, because investing is good doesn't mean we should just dive to any available investment scheme we see. We have to be careful and research thoroughly before we put our hard earned money into anything.

But it's the different way of what the actual rich people does, they also do save but not entirely their wealth on savings but in investments. I still want to save money and that's a yes because having cash ready anytime you want to spend it on anything is always the best guarantee that you can have and it will give you a peace of mind. While it's easy to say that the poor people should also save you, you'll never understand their situation if you have never been into their shoes, they barely save and they barely have investments and everything that they're earning is being allocated to their needs for daily survival and food.

There are also instances where those rich people are like addicts to earning money, meaning they want to earn more. As you know, if you are earning a lot, you will now want more, and being rich means you need a lot of things to be paid for, so if you don't find another source of income or your earning keeps slowly declining, then that is a huge problem. Also, regarding saving, if you are rich, you can now easily save as you do have a ton of spare money.

That's right. And in fact, people who have become rich are actually people who have succeeded in managing their finances and they are certainly used to saving and investing. And, of course, saving in fiat is something that is always avoided by people who really understand the centralized financial system, which is always affected by inflation from year to year. So that rich people prefer to save their money in the form of precious metals or gold bullion. And more of their assets will be placed in investments as you mentioned. Because investing in a field that can provide passive income is certainly everyone's dream. and those who are rich have succeeded in doing so. and we must imitate them if we are to improve our lives.

The benefit of saving is to keep our finances safe, by saving we are not afraid of losing money if we carry money anywhere, it is impossible for us to save money at home because it will always make us worry if it is stolen or robbed, it is better to save money in the bank even though it does not earn interest or money growing.

There is no one-size-fits-all answer to this question, as it ultimately depends on an individual's financial goals and circumstances. However, there are several reasons why it may still be advisable to save even when someone is already wealthy. Firstly, unexpected expenses can arise at any time, and having a substantial savings cushion can provide peace of mind and financial security. Saving can help to maintain a certain standard of living in the event of a sudden of income or other financial setback. Savings can help to ensure long-term financial stability and provide opportunities for future investments or charitable giving. Even if someone is already wealthy, continuing to save can help them to achieve their financial goals and leave a legacy for future generations. The decision to save should be based on an individual's unique financial situation and goals. Saving can provide numerous benefits and is often a wise financial decision regardless of one's current level of wealth.

Indeed, everything will return to the individual himself and to what habits and plans the individual has made for his future. And even people who are already rich are usually used to making more mature future plans. So that saving and investing may have become their habit. Because they can become rich, maybe because they have been accustomed to reliable financial management and careful financial planning since they were before they became rich.

So whether it's rich people or ordinary people, all of them must still have careful planning for the future and preparation is needed, of course. and the way is by saving and investing.

Your perception of a house being either an asset or liability certainly sparked a thought. Yet, I hold a different stance.

Indeed, a residential home incurs expenses, such as bills and maintenance. But can we justly tag it as a liability when it offers us a fundamental need like shelter?

On the contrary, commercial properties might earn significant income, but aren't we ignoring the associated risks? Unforeseen market changes, non-paying tenants, and hefty repair costs can easily convert your 'asset' to a 'liability.'

So, here's a proposal. Instead of fixating on labels, why not consider a house as a 'home' or a 'business,' and assess them in their specific contexts?

You don't need to worry about what the wealthiest people are doing with their money, as they certainly aren't thinking about you. When you reach a certain point, like in the millions, it becomes about diversification of assets which can likely protect them from ever going poor again - even if they never worked another day in their lives. They might have a couple million in bonds, low paying but rock solid, a couple million in blue chip stocks which are super reliable and slightly higher paying and then put the rest in the regular stock market which will ebb and flow. With savings rates going up the whole picture is actually changing as we speak.

Everyone should plan saving according to his position. A wealthy person thinks about how he become more wealthy and go ahead according to the plan. A man can never succeed without a plan. Especially if some one is not financially planned then his future can be under big threat. If one is able to maintain both investments and savings normally he can be financially sound in a short period of time. Agree with you that both rich and poor should keep both savings and investment as much as they can according to their ability.

And the most important thing is when we have the opportunity to save and invest, that's when we have to do it and make good use of it. Because there are some people in other parts of the world in countries that are in a state of prolonged economic crisis. as in South Sudan, Somalia, and the Syrian Arab Republic. I heard there are even still many people who experience hunger. Even child mortality and malnutrition rates are very high there.

So that for some people who are in a country experiencing a prolonged crisis they even find it difficult to get food every day. the money they earn on that day will be used up to buy food to be consumed that day.
so it is important for those of us who still have the opportunity to save so that we can maximize our savings and investments. if the rich are still saving then of course those of us who have the goal of becoming rich must also be more active in saving.

Yes, I also think that if a person can save something from his monthly salary then he can do something good for the future. There are some people who can't calculate anything for which they are good in life.  Can't but to live well in our life we ​​need to do some calculations and save some money.

Even rich people can go bankrupt if they are not able to manage their finances well enough in life. That means saving money in life has become a very important thing for everyone, especially for those who are still poor, so they really have to be able to carry out extra savings in their lives because those who are still poor will not be able to have something they want if they their life they still use money more extravagantly without remembering to save it for the future.

Of course I should save when I'm rich. That's because you can sit and eat all your life. What do you do when your wealth runs out? You have a lot of money. Become an owner day by day your needs will also increase. There are many people who I have seen who despite having a lot of wealth are increasing their wealth so that they can increase their wealth in the future. But there are many people who do not do anything despite their wealth they are really lazy. So I think we must save.

Perhaps someone simply does not have the opportunity to save money if incomes are so small that they are only enough to pay for food and only the most necessary. So it is not always possible to save and it is better to start doing it when your incomes increase.

The rich lose their money not because they don’t save, but because they don’t manage their money well and perhaps spend too much, much more than they should, because you get used to a luxurious life quickly, and then it’s not so easy to deny yourself something.

I believe we should everyone have some money set up for unanticipated expenses. I believe that you should strive to invest more than just save your money at some time.

Having emergency funds on hand is one thing; saving without a specific goal or plan is quite another. When you put extra money in the bank, it simply implies you don't know what to do with it (invest in), and this is where the rich and investors come in. They take your accumulated savings and go out and play with them in the hopes of making more...so they exploit your combined savings to make themselves richer because you don't know what to do with your money.

In case you are saving all your life to become wealthy at one point, I don't think you are going to stop and completely change your spending habits. Humans are used to patterns and adapt to their conditions, it takes a long time to change that behavior. I think that even if I become a millionaire overnight I would still evaluate purchases between necessary and unnecessary. There is nothing wrong with treating ourselves with some luxurious items, as long as it doesn't happen every day. Saving all the time is difficult and exhausting, it would be nice to be financially independent and not have to worry about money. But we shouldn't only think about ourselves, if we save enough money we can leave it behind for our children and grandchildren so that they have an easier life. I feel like if we inherit money from our parents than we shouldn't be spending it, but rather leave it for the next generations. We can use the interest for ourselves but leave the principal untouched.

there is indeed a difference in mindset between ordinary people and rich people. Rich people prefer to make their money produce more for them. So their type of savings is not saving and left exposed to inflation. they don't do that. they prefer to save in an investment that has the potential to bring them more income without them having to work too hard. they make money work for them. different from ordinary people who work for money.

In principle, it has a certain strategy pattern in managing money, people who work for money they have financial rotation on income and needs and for satisfaction in enjoying their lives, but different rich people who have a certain level to get money, they also save but their language is holding cash for emergency funds that are determined for a certain period of time, and then the rich have another income strategy from the management of money, SSay thinks the rich also work for money, but they have money that works for them too so that they have many sources of income that can be on The accumulation is stronger in financial fundamentals.

The term rich person is not saving, but an emergency fund or cash fund to anticipate unexpected things in business or other things.
But I am wrong with this discussion, saving and saving (buying things that are needed only) in English have the same language.

Everyone can do this as it does not matters that how much you save. Those who cannot afford to save maximum percentage should at least save 2$ and I don't think that there is poor people who cannot even save this little amount.

One can reduce the expenses of life and can save little amount but those who wants to do and saving money is not waste of time but it will give good future to individuals. Poor or wealthy does not matters and in my opinion everyone can save money because there is no boundaries to save the fixed amount but if a person tries to save at least little amount then this will become his habit so he will reduces his expenses which is a good step towards a successful life.

Even rich people has their own savings, it is allocated in different forms that's why their younger family members tend to inherit what they are already been working and the amount of money that they got throughout the years in their business. I knew some still working as ceo in their company but having a very work life balance. Everyone needs to have a savings and everyone needs to know that emergency funds is much needed.

For sure they have because they wont really be able to reach out that particular state if they havent been able to do such thing back in the past, for sure they are really that aware about the importance on having a savings on which it would really be just that common that they did really make out such benefit in the past on having this allocation or stashes. It would be always that recommendable on having that savings because we know that not all the time we could really be having that money specially on emergencies on which it would really be just that common that you would might be ending up with some shortage of funds.

Not all would really be going into this situation because there are really that rich people that no matter how big the expenses is, they do still able to pay upfront without any problems. We know that there are ones
who are really that financially capabled on which they could be able to pay no matter on how big it is. This is why on the question in speaking or in related about savings then it might be not all wealthy people
would be having that kind of allocation since they do confidently know that they do able to pay up on whatever things ahead.

Besides, most of the wealthy person in the world knows the reality of the world more than we probably do.

We should still save and invest accordingly because if we don't, there will be a time that our wealth will go down the drain as we don't have any passive income that will support our lifestyle and we should always think that what we have is not unlimited too. I agree, there must be a plan for everything and a plan after that as a back-up because we never know what might happen down the road.

In my opinion, to achieve success or wealth is certainly not an easy thing because of course it requires a hard struggle.
I think for sure we will get happiness and wealth as long as we try our best.
but still we have to have savings and also have to have lots of businesses so we can make more money, and in my opinion we have to have savings even though we are already rich.

yes, sometimes we are always frustrated when our dreams haven't come true, but in my opinion no hard work is wasted so everything will definitely pay off.
so keep the spirit and have to think positive.

And also rich people have many sources of financial knowledge, in other words their financial literacy is very good. And besides that they know how to treat their money, besides saving or depositing, they also invest so that their money continues to grow because they prefer their money to work and grow.

actually rich people or poor people have to save and also invest, we don't talk about everything but we have to be forced to create a peaceful life until old age. And what we have to realize is that we can't predict our life's journey, so we have to prepare and plan as early as possible so that we can handle it in our life's journey if something happens to us and we have a reserve fund to deal with it. And this is the most important, apart from for the future and also as a reserve fund in the event of a financial or other problem.

you are right in our local language the two words that are written the same in English actually have different meanings in our country (indo language : berhemat dan menabung). I also have quite a hard time conveying the meaning of the other word because I haven't found a suitable vocabulary in English.

well you are right that they probably do have the same mindset as you describe. they work for money. but money also works for them. the point is they can take advantage of both sides. And it's no wonder the rich are getting richer. because their mindset is sometimes more advanced than ordinary people. and the way they manage their finances is also very neatly organized and planned. so that evaluation and observation becomes easier to do.

I think it’s important to always save money in case of emergencies. Especially if you’re not really looking to purchase something huge like a house or a car so it’s pointless to save half of your earnings and not treat yourself to something you want. When you’ve reached a comfortable lifestyle, rather than saving, you should start thinking of ways to let that money grow either from business or investments. As someone who grew up tight with money, I also struggle with spending even if I do have money. Just remember you deserve something once in a while.

You're correct It is very difficult to save money these days; the more you try, the more problems you have. In addition, we cannot have everything we want in life at once when we are not that wealthy; instead, everything comes to us gradually when we take small steps. The best thing to do is to keep investing since you don't have a personal job; whenever you sell your profit you made from your investment, you will be able to buy whatever you wish gradually.

Not only in emergency conditions or circumstances if it is to save money in our respective lives. Because saving money will always be useful when someone wants to open a business with their own capital so they must be able to save and save money on unnecessary things so that the business can quickly run according to plan.

And the savings that are kept from our own work or monthly income can also be used as capital to build a house and buy a car when these two things are really needed for life. So nothing is wasted or neglected when it comes to saving and saving with the intention of arranging a better future because everyone will not know until what age they can be able to work as they are now.

Exactly right. And rich people sometimes they have information that they get a lot faster. They have informants everywhere. This will make them always one step further ahead of us. Their insight into the world of business and all things that make their opportunities for profit much greater than the average person.

But still, we as ordinary people can also take wise steps in finance and in planning to grow our finances. with the internet, now we can use it to get information faster than anyone as long as we are proficient and active in searching for it. To save maybe we do not need any information. but to invest it is very clear that we will need fast and accurate information.

It is very difficult to save money these days and you think that since it is difficult,we should not strive to make some savings for what the future might bring? We don't even need to bother ourselves of getting some savings since there is money available for us to spend. Do save, let's keep spending the money and enjoy the fund now the is enough for us to spend. Those who are saving are never serious and maybe they are wasting there time? Hahaha, just been sarcastic in writing for those that do not get the gist.

There are some persons now that are poor as a result of not keep for reserve when they are getting enough money. Since they never bothered having some savings, they ended up becoming broke because the money is not coming like it used to be before. We need to take the step of saving our funds for the time when we might needed the money or become broke.

In many cases, the result is achieved by the one who acts, sometimes a quick but not the most correct decision may be better than a slow and balanced decision. But wealth can be achieved by people with different characters and types of thinking. The most common trait among the rich is thrift, they all know the value of money and know how to value their time, they work hard to create cash flow, so you are right, they do everything to make money work for them.

How can someone struggle with spending, if you have so much money and you don't know what to do with them, give it away to charity. Give back to the community either through charity donations or doing something for your community and you'll keep getting more favours from both God and humans. Don't do it with the intentions of receiving something back instead because you care about the community.

Saving should be done in all financial stages because it'll save you in future. Money don't keep on coming to any individual unless they make sources to keep the money coming and using your saved money for investment is a good way to keep the flow of money coming.

Well I think what you said (the word I underlined) is the most appropriate thing if it talks about how they value time. They are always more appreciative of time and they try to make the most of every moment they spend very well and effectively. So that no time is wasted. I think I just realized this. And well it seems I also have to start appreciating every time I live. Sometimes I don't use my time effectively. when I'm on holiday I prefer to be lazy even though I can use that time to do useful things. And yes they also know the value of money. So they only use it for things that are useful and can bring more profit.

Someone can only become wealthy through investment. Investors have faith that the investment they made will make them wealthy at some point, even when they are unsure of when exactly this will happen. Attempt to keep that in mind.

Even the rich worried about money. They continue to invest in escalating-value assets like bitcoin, gold, stocks, etc. Even though they have unlimited resources, they can't just waste their life earnings without making an effort to recoup them. Therefore, they should never stop investing. 

Saving money is crucial for everyone, rich or poor, and even the world's richest men, in my opinion, continue to do so in order to pursue additional goals.  And I believe that wealthy individuals today achieved success through saving; therefore, there is no need to inquire more because it is obvious that these people are constantly coming up with new ways to make money through their investments and savings. Given that you cannot stop hustling for money until you are no longer in the earth, and given that you can see that they continually look for more money, I'm not convinced they will have financial limits.


Do you imply that after you are affluent, you won't need money anymore? If that's what you mean, I think it's a bad idea and I didn't believe with that because even the wealthiest people in the world today are still looking for many ways to get more money, which is why you'll see them making more investments and starting new businesses. I don't know if you've ever seen a wealthy man that's not more worrying about again, which I believe it is impossible, because money is part of us mate, and someone can not stop looking for more money until he/she dies.

The idea that affluent people should donate to worthy causes is wonderful. It is beyond dispute that giving to others and supporting the community have numerous benefits. It is oversimplifying a difficult issue to say that this is the cure for spendthrifts.

Money issues frequently result from a lack of financial awareness rather than having too much of it. Being wealthy does not guarantee that one is an adept money manager. If they haven't mastered the fundamentals of budgeting, investing, and financial planning, your suggestion on "saving" can go unheard.

Additionally, generosity should not be limited to those with money. Everyone can make a unique contribution to society, regardless of the size of their wallet.

Saving money is important for anyone, nowadays almost everyone uses the services of banks to save money, and what we have to understand is that saving money will not make us rich because bank interest is currently very low, so that makes us have to think realistically that saving money will not make us rich.

Regardless of one's level of wealth it is advisable to save. saving can help to ensure financial stability and security, as well as provide safety net in case of unexpected expenses or emergencies. Saving can help to build wealth over time through compound interest and investment returns. The specific amount that one should save will depend on their individual financial situation and goals. If someone with a high income and low expenses may be able to save a larger percentage of their income than someone with a lower income and higher expenses. It is depend on individuals the decision on how much to save.

It's normal if when you have money you want to buy something. But because things are now rather expensive, it's rather difficult to save. And save it in my opinion is very useful. Even if you only have a small amount set aside to save, that's very good.

And if when you're rich, I think you should save. Because when you are rich you have to have spare money to use when there is an emergency. Don't waste too much money even though you are already rich, because saving is important. I mean, don't overdo it.

I personaly see, When a person becomes rich, the needs of his expenses also a lot. It seems to me that saving for the rich may not be their top priority. they prefer to diversify assets and invest their wealth in business or other assets that can provide higher returns than ordinary savings interest even though it is initially quite large and if successful it provides greater financial benefits than saving.


For this I may agree that excessive spending within reasonable limits greatly impacts one's finances

But we also need to rest, we cannot work all the time. We need to work more efficiently, during working hours, but during the holidays I would like to take time for myself, spend time with my family. Rich people value their time, it's true, but it seems to me that they have much more opportunities for this.

It’s always a good idea to save even if you earn a good salary. Saving money is essential for building financial security & achieving financial goals. Regardless of income level unexpected expenses, emergencies & future needs can arise. Saving allows you to create a safety net, invest for the future & have a sense of financial stability. It is always wise to prioritize saving regardless of how much you earn.

Everyone says that you need to save, but it depends on the income of a rich person. If he earns much more than he spends, then he will not have financial problems in the future. You don't have to be very frugal, but you also don't have to spend a lot of money in order not to attract attention.

In the beginning someone becomes a rich person maybe also because of their habit of being good at saving and also good at managing their finances. And this will definitely become a habit that they do until they become rich people though. And when we have become wealthy and we have more income than we spend, we will still put the remaining money in savings or investment.

In essence, the rich have even greater and easier opportunities to keep saving more. In contrast to people who are not financially capable. For them it is not even easy to spare money. Because usually the amount of income and the amount of needs are always balanced and sometimes even less. So we choose to have side jobs as well because we struggle to be able to have money left over that we can save or invest.

That is not necessarily true because when you have a higher income, you will also spend on luxuries and more expensive, your money also spends faster so you also need to have a savings plan.  even the rich, the billionaires always have their savings in the bank, so it's silly if someone thinks their income is high that they won't have to save.  Life is always full of surprises and no one knows what to expect, so never be subjective. saving and always having a backup plan is never superfluous.