The best way is to find more efficient alternatives to use your money, without spending on things that could be avoided and having savings to take advantage of opportunities that may bring you better returns in the future.
I agree, it is best to know the things that is really needed and those that are less important be set aside. another approach is separate 10% to savings and use the remaining for the monthly budgets. This might be a bit hard if you are not used to doing it but you will find it will be a life saver in the future. You cannot deny that you need to have a savings. But if you have very limited budget or income, it is hard to constantly save on payday. The only way to get a steady saving is increase your income. Fortunately, bitcoin can provide some extra income. And if you know how to do cryptotrading, there is more money you can get. You are not limited from what you earn from your day job. That is not an excuse because I believe that we can still save even if we are not receiving a big amount of income, we just have to be discipline and focus on our goals, if you cannot save in small amount you will not be successful in bigger because you will eventually change your standard way of living. That is just easy to say, but really hard to do especially if you barely have enough for your basic needs. You cannot remove basic needs like food, shelter and medicine. You need them to survive daily. Like in our country, the basic salary is way lower than what is needed to live a decent lives. And some people does not even receive minimum salary. |
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actually i'm not good at managing my money as a student i can't stop myself from making an expenses . and also when i get hungry i can't stop myself on spending for the food i wanted to eat Grin Grin i want to save money but i don't want to suffer from starvation and craving for foods . haha
Food is basic necessity and you cannot deprive yourself with it. But you can better manage your money by choosing the cheaper but healthy foods to eat. But if you eat expensive and unhealthy foods, then you are guilty of mismanaging your money. |
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If I had access to cheaper electricity, as the Chinese, I would go full time on Bitcoin as my only job, as I would have a mining farm and earn profit from it.
Me either I want to go full time and build my own mining farm if ever the same thing in my country. But I am thinking about making an alternative for cheaper electricity by buying a big solar panel in able to save electricity because here in my country the electricity is really high. And going to have some services to offer. If you can fund the infrastructure in building a solar powered mining farm, then you should go ahead. Having solar power is way way cheaper than power from oil or coal. Though that project requires a large fund because bitcoin consume large power. But I guess you'll get roi on your investment in a few months if bitcoin price gets higher. |
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I prefer my bitcoin wallet because it just feels much more secure to me than to be holding my money in the bank. They don't actually have your money in there you know.  I guess you are right because they lend out your money to make interest. But I think they are obligated to be liquid and you can get your money anytime you want. And they are covered with some insurance so they are secure to me. But if you feel you are better off having your money in bitcoin, then I guess it is okay too. |
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A difficult goal, but I believe that it is possible if you invest properly. The good news is that the cryptocurrency market is one of the few places where this is possible, the bad news is that there is a high risk to be taken.
If you want it double in an instant, it will not happen. There are too large a risk to take if you want it to double instantly. You can double or even more your bitcoin if you invest it smartly. It may take a long time to do, but it is possible. Just keep investing your profit until it doubles the amount. But be careful, there are too many too good to be true investment sites out there. Stay away from scam and ponzi. Invest only on legit and proven investment sites. |
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I don't think saving is the correct answer. I mean saving is for normal people.
Why not invest your savings to make more money?
You can cut some unnecessary expenses you have and invest that money to get a nice ROI.
Don't let the money stay in your bank as fiat. Invest it!
Remember: Spending is not the same as investing.
If if was that easy to grow money, everyone would be doing it and there would be no poor people around  It is true that a good investment can be a lot more rewarding than just leaving your money in the bank but finding the right investment can be really challenging, what works for someone else might not necessarily work for you. Otherwise all we would have to do to become a billionaires is do everything Warren Buffett does  Of course, all we have to do is what he did to be rich. But are we wise enough to be able to pull off what he did? Some people easily give up when the going gets tough. And some people are even too lazy to start something.So those people cannot be rich. Only those people who are determined to be out of poverty and become really wealthy will succeed. |
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Don't know what to say about this because everyone should be a mini-economist about his own money and try to manage as well as he can, I try to manage the best I can and I always leave a small amount to help anyone and have tried also here in forum which was misused but this does not make me mad and bad to help others.
Not everyone can manage their finance well. Most of us are one day millionaires. Once we received our salary we immediately spend them on unnecessary things like cellphones and eating out on expensive restaurants or spend our money on clothes and partying. We should be mini economist in theory but in reality, we are mega spenders. |
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It is easy to save money what you need to do is make a list of the things that you really need to buy and don't include the things that you want. Settling up your wants and needs is going to be important and you must prioritize first your needs for it. And once you are going to spend your money with it you are going to properly save money.
It's easy enough to save money, the question is how long can you last without giving in to temptation and spending your savings on something? Personally, I need to have a goal otherwise I'll start saving just fine but then I'll see something I like and dump everything on it. If I have a clear objective, like I need to save up $x,xxx for a trip then it's not a problem. Well, it's going to be your problem if you cannot control your self, saving money is very important to realize our goal in the future, remember tat we are not getting any younger in this world, we all grow old and we might not be effective as we used to be in the future so it is better to have an amont of savings that we can use to start up our own business and to spend in times of emergencies. If all you need is a goal to be able to save continuously, then set the goal higb enough. Or think of the future or retirement so you will be motivated to saved. Just look at those old people, they worked hard and some are even getting high salary. But they neglected the value of saving and investing, and now they can't work anymore, they have nothing. Think about that if you are ever tempted to spend your savings. |
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Of course it does. If you would invest right now $1k into BTC at the $600 price and one hour later the price goes down to $20, would it matter? Of course it would.
If you are in bitcoin for investment, the price in dollars matters. But if you are into bitcoin because you believe that there is a need for bitcoin and crypto is the future then it does not matter. And in your scenario, only an hour passed. If your going to invest into bitcoin, do it for long term investment. |
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it is time to hold bitcoin not selling it. the price has been stable for a while and now that it is showing some small signs of rising you want to sell! that doesn't sound so smart to me.
also in general bitcoin is best as a long term investment so you should hold it for long term to get the best profit.
It has already risen a significant amount, so.selling now is still a good profit. And if the price dips down again, he will have a chance to re enter a good position. But if I were on his shoes, I will sell only a part of my bitcoins. If the price rise again, I will sell another part if it reaches a certain target. Or if the price drops, I will buy more bitcoins. |
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I would prefer bitcoin wallet than banks, why? It is because banks for me is hackable or doesn't have that much privacy than we have in our bitcoin wallets and What if a bank have been robbed and in that bank you've invested your bitcoin, so where would it go? the efforts, the time that you've spent in earning that bitcoin? It will just end in nothing, compared to bitcoin wallet that you're the only one who knows about it. There's no other involved so it's much safer.
I have bank account for several years now and since then i didnt encounter any problem and i know that my money is secured. i also like btc and both has different features and uses so i will continue to use both and no need to choose. We are still living in a world where fiat is the major currency. So, we cannot still dispose our bank accounts in favor of bitcoin wallets. We still need fiat and the banks provide safety and insurance of our fiat. If there will come a day that fiat is no longer needed and we can do all our purchases and transactions with bitcoin, then we can switch to bitcoin and bitcoin wallet. |
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No i won't quit my day job to go full time in bitcoin. The main reason is that my earning in btc is not enough to meet my daily needs. As of now my bitcoin earning is just and additional income and help me to finance my needs. If ever time come that my bitcoin earning surpass my day job salary, I still wont quit because having many source of income is better than just one.
Correct. The more income you have, the faster you can save for your future. Or you can also invest some of your savings so you can still earn some money even if you cannot work anymore. We should have all the work we can get while we can still work. And invest them so when we are old and retired, there are still some money coming in from your investments. But not all can do that, some people when receiving more income tend to change their lifestyle and that makes them disinterested in saving because they need to cope up on their wants rather than on their needs. To be honest, I have been in the same situation so I know the feeling when you have the opportunity to buy things you were not able to buy when you still a low earner. It is all in the mindset. The problem with some nowadays are they are too used to instant things. They always wanted immediate or instant gratification. You just need to delay your gratification. Work hard now, save now and enjoy life later when you have already build your wealth and self sufficient thru your investments and passive incomes. |
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No, buying bitcoin is currently not in my option. I would rather earn Btc rather than buying one. Because I consider the danger of buying btc with fiat as a risky thing. As cyrptocurrency price changes quickly compared to fiat money. Like when I buy BTC with a higher USD price and spending more. I could have save money from buying it at a cheaper price. So it is better safe than sorry for me.
It is just the same to me. If you are earning bitcoin, then you are just investing your time in it. If you buy, you invest your money. Both are important. It is true that bitcoin prices fluctuate and that you can buy at a lower or higher price, but if you are for bitcoin investment, then the price now does not matter because in the future it can be higher. But if for spending, then it is important to buy on dips. |
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Everytime I see the word investing it makes me cringe. Nobody gives money away and that is what people are doing believing that they will profit from these companies or individuals that give you their word that you will get a return for your investment of money, assets, bitcoin or whatever.  People time to wake up! Those are only looking out for themselves and not for you or your best interests. If there is money to be had then they would be wanting it for themselves. There is a sucker born every minute as they always use to say. Now in this day and age of the internet there is one born every millisecond it seems.  I believe in those who have proof that they invested and have earn so much from their investments. I do not believe everything in the internet and so should you. But if you believe in a product that is really gonna make it good in the future, putting some investment to fund them is a good idea. They grow, your money grows too. |
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use your instinct for predict the price because something self instinct is very usefull for predict price movement but indeed people advice are necessary too and i was slightly regret didn't sell during price at $621-$531 but i won't losing my hope and i wish price will increase again soon
I do not think instinct will help in predicting bitcoin price. You need to know the market and read the graphs. If you know how to read graphs you will have a good grasps what will happen in the future, unless the whales make their move and throw all logic away. |
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I only spend my bitcoins when I am in a very tight financial situations. Other than that I intent to keep them safe in my wallet. I hope I can keep it that way until the price boom of bitcoin. I do not want to spend them on gadgets that loses value and replaced by new models after 6 months.
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They both come with their pros and cons. Investments always come with some risk which means more stress and you also need to constantly keep an eye on what's going on. But reward is usually high. Saving money is almost risk free and there is no maintenance work you need to do other than make sure it is secure. But your money doesn't grow as fast.
Why can't we just do them both? Both of them give good benefits to us. Saving makes our money secure and investing makes our money grow. We cannot just invest and not make savings. That is putting our money inaccessible at some times when it is still locked on an investment. And if we put them all in savings, inflation will eat our money away. So, do them both and we are well taken cared. |
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plan to get rich is "doing what you thinking", don;t make more plan if you can't do it.
better to do it then plan will become if you get the problem to solve it.
This is quite funny but it is actually true. Many of us have very eloquent plans on how to get rich but most of us also are procrastinating on our plans. We are just sitting on our plans and nothing is actually done. He is right, action will make more good results than any eloquent plans we have to be rich. |
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The 1st thing if anything would be getting a job.
But bitcoin does help if you had a way to gain the btc for a cheaper way - based on the persons approach..
Getting a job helps so that you will not be in a situation where you run out of money. A good job and a good financial management will help a lot. But if you are in urgent need of money, then there is nothing you can run to but loan. And those loan sharks will eat you alive. So, get a job and work hard so you will not be put in a bad situation in the future. |
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It would be good to store and wait for the price to go up. However , if you know a lot about the market you could trade and probably make daily profits.. For this you need to have a good understanding of how the market works.
Learning about the markets and the fluctuations of the coins is not that much hard i guess, anyone can learn them in really a short period of time if they are really interested in trading and after learning those things anyone can start trading immediately. Have you ever tried guessing the direction of the price. You cannot get right all the time because it is not that easy to predict the market, especially in bitcoin. Bitcoin price can still be influence by the movement of the whales. Unless you have insider information, you cannot easily predict it. Even experts commit mistakes sometimes. |
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