I would definitely divide this question into several parts in this topic.
1. At what level of income, per 1 person in your family, it is possible to accumulate savings
2. Is it possible to set aside savings if you have one job and no investments, passive income and other sources of income.
3. How best to store deferred savings
Regarding the first part, I explain - just taking and allocating 1/3 from the amount of income is not mathematically difficult. The question is - how much does this income cover the needs of life? If this money is not enough or "a stretch" is enough to support yourself or your family - what kind of savings can we talk about?
I guess you have never saved 1/3 your monthly income before. As you said, taking and allocating 1/3 from the monthly income is not difficult, so the only question here is whether you can implement it. Ever since I was a single young graduate, I have managed to save at least 1/3 my monthly income, even after I got married. Just because you can’t save much means other people can’t do that either or logically it is wrong ? Same as keeping fit, that you can’t get disciplined to exercise regularly every day and control the intake of calories does not mean other people can not do the difficult task. Lucky on you it is really not difficult if your salary is enough or possible that you are rich guy already because of your family? because even my self it is difficult due to other expenses on the needs. Life of having a family is really difficult and now that the prices almost increases all it makes us more difficult, but this doesn't mean that i dont save at all, but only if i have extra spare of money and this is not counted as 1/3 of monthly income as my salary is not the same in a month. |
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Thats your strategy and the thing that you arent learning while you are losing , it should be per losses you'll able to know the reason why its a loss, why it goes the other way, reflect on it because it doesn't mean you win or loss in the entry you dont care at all , you should know where on your strategy makes it loss. Basically you just need to improve your strategy as well as understand what the market is giving you like if it is sideways and you strategy is on uptrend so really you'll be losing .
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I don't understand why things are so unspeakably hard to people. I couldn't hard a good feelings for some days after thinking of what must have trans-led this suffering of financial hardship in societies. Money is rare this days, am going through a lot but I just hope things well and better soon. Is not really funny here.
My children are at home chase from school, I could not pay fees again. What could be the cause of scarcity of cash?
I don’t think it is about scarcity of cash. Maybe you are pointing out is how you will be able to generate income for your family? As i am evaluating your topic it seems that you do not have a regular job? Nowadays a lot of employees had been laid off due to inflation and others have been suffering downgrading of their salaries. If you are experiencing shortage of money, i think you should find other option like part time job that you think that you are qualified for you to be able to sustain the needs of your family. Just be patient in finding other source of income everything will be alright. It seems easy to say, but it is hard to find those opportunities. I have a lot of friends that are still jobless because of the pandemic, and they weren't able to get into a job because there were so many applicants. With that kind of situation, I do agree that if you just keep applying and finding a job rather than quitting, you'll end up landing a job. So it is better to find and keep applying no matter how long it takes so that you'll end up landing a job. |
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Once already in this situation it is good to have sidelines, there is always a chance to save as long as we find ways and dedicated to do it for our own and families benefits.
I'm doing everything that can be a sidelines just to save money and support my family. Even if the body hurts, it's okay because all the hard work has a good destination. It is true, it is very important to plan our future so that when we grow old there are things that we can use for important matters. But if you start a family at a young age like me, it's very difficult to save up because almost everything I earn from working in construction is enough to feed my family every day. But even so, my partner is able to save through his own work which is for our son's future. Even so, I still earn some money online then save for my family. For me diligence and determination are the only important things to save, because if we don't have it, we won't get the goal we want.
Discipline, consistency, determination, perseverance and hard work are indeed important factors that must be possessed by everyone to plan and create a brighter future. It's just that sometimes it takes great motivation to do it. and also we need an insight in managing our finances in order to maximize effectiveness in the use of finances and the allocation of finances. so it's easier for us to save for old age. I agree that we should completely do all of that ourselves. Because that will help to realize savings for the future. But you are right that without financial discipline it will not work either. at this time when this are so unpredictable we are not sure whether we will get old or not die young one should have a good life and have some savings for a better old life. So it is better to start saving while still alive because we will come to that point. It is important that we leave something to our loved ones that they will definitely benefit like a house and lot, a small businesses and ofcourse money. But if they learn the importance of crypto in finance it will be even better. Because they are the ones I can leave my assets to if I ever disappear from the world. but you should make sure that they knew how to access it or where because it is still useless if you are only the one knew it and they can still access it . We cant really predict death that is why you should be prepared to tell your love ones that you own it. Having a house and land is really the traditional way and it is very useful to our family or children if they inherit it that is why most people right now are really working hard to buy those so that they can give it to their future childs. |
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Governments really decide what is to be used as currency, and we ourselves don't have any controls on it. No matter how hard we push it, if the government doesn't want it, then it is still useless. Governments are powerful, which is why we can't do anything about it. That is the reason why other people are still buying bitcoin even though it is illegal in their country. They see potential in it, but they are quiet about it as they might get into trouble. What's my point? The government will be implementing those established ones like fiat, and if they see that there is something wrong with something like bitcoin, they will ban it, and you can't stop it.
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I know most people will say here that 10,000 bdt is too small, but considering that you are a student and come from a poor family, I can relate to this. I can't save on my own as it is even not enough for my daily transportation, but the dedication you have to saving is at best. Do good in your education; don't think more about your bitcoins; just think that someone will lend you money and give it back 3 years from now; focus more on your education; and save more to buy more bitcoin.
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I hope that on this day all of you are always healthy and can still carry out activities as usual with great comfort, because here at the end of Indonesia where I am experiencing flooding due to continuous rain for the last 12 hours and causing puddles in several villages that are very close with the outskirts of the city as well as being very close to the river. Usually we say that rain is a blessing for farmers, but excess water is a disaster for everyone so that it hampers the activities of all local residents and will obviously greatly affect their economic cycle.
Some of the residents' land belonging to farmers around here have been flooded and hopefully the rain will stop soon and the puddles can recede soon and I hope the local government will be able to handle this properly soon. Because at the beginning of the year we always feel excessive rain and that really suits the weather here where the rainy season here always occurs at the end to the beginning of the year.
As an ordinary person, I also feel the impact of this because when the floods hit, people who usually sell snacks on the side of the road also cannot carry out their usual activities because they are all busy looking after their own homes and those around them. Hopefully this does not happen at your place and especially elsewhere in Indonesia.
I think we'll start to see much more dramatic weather cycles in future and it is, as always, going to affect the poorest the worst. Too little rain or too much rain can be equally damaging, but some countries are very poor at resource management because of government corruption or incompetence, are likely to be worse off. We are going to see more extreme weather events due to warming, the ice caps melting and certain areas which are close to sea level might actually be lost for this reason. These things can be mitigated somewhat by improving infrastructure to deal with flooding, but it's an expensive business and sometimes people don't reinvest money wisely into their future like they should. that is also what I've noticed people are more investing to finding another planet to lived than focusing to fix our mother earth which is the sad problem, we constantly getting minerals and deforestation in our world as we need this resources and also people keeps inventing things that make the harvesting of those mineral faster than before and only people are taking care or fixing what they have destroyed. |
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Social media is one of the fasted means of gaining updates and what I do most at times is that I subscribe to updates so as soon as the platform's notifier indicates a new update I will quickly get it to keep myself up to date, most especially in football games.
Not really, sometimes Social media got updates from global news that show the match. Except for association sports like UFC and any boxing association. As I know, they will provide information 1st than another platform if have important news like injury players, cancel fights, or others. So I think OP must know what to do, because they write this thread almost 2 weeks ago, and I read many suggestion was posted. He is not alone, there are many others member that don't know any sport betting, but after joined bitcointalk, he got smart to prediction any bet. There are also their websites, where they have a news section and a social media section that shows their recent tweets. This is the most reliable source of information, but still, social media is the number one source as they will always post an update, but at the same time, as the OP has a dish, it is also better to watch it so that he is most updated when it comes to injuries, upcoming matches, etc. |
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Yes addiction of everything is bad no matter what it is. We can say there is no good nor bad addiction, they are just bad. If we talk about investing, then best way to invest (without getting addicted) is to invest some part of your savings weekly or monthly into bitcoin. Just follow the DCA strategy then everything will be fine. Investing unlike gambling should be a good habit not an addiction.
Whatever form it takes, addiction is a bad habit. especially when it comes to money will make our lives financially destroyed. Most people who are new to investing or trading think that this is a shortcut to multiplying money, without having enough knowledge they are determined to do it, and the results are not what they expected, then after that, there is disagreement and curiosity. from their minds and indirectly they are not aware that they have lost a lot of money here. It all starts with addiction when you win and curiosity when you lose, so how is this different from gambling? I think most people these days are always tempted by the results without them knowing how the process. Once called addiction, nothing can be called good, bitcoin is no exception, it's surprising how many people are defending bitcoin. Once addicted, it not only destroys our finances, but the consequences will be much more dangerous. It will affect our health as well as all our relationships in society. No matter how much we love bitcoin, we should balance our lives, don't let it make us addicted. Life is full of exciting things and needs attention, not just bitcoin, and money is everything. How it can be called "bad" while it gives you many advantages and less of disadvantage. You can see that addiction in investing will give you some profit from your investment. although as you all said that every things that was done with addiction called as bad. Too much is always bad, which is also addicting. If, let's say, the person is addicted to investment and he spends most of his money on investment, let's say 90% of his salary, with nothing more left for his needs, and then his investments have still made no profit for months, then that is the problem. But if he has already seen the returns and as long as it isn't affecting him or his family, then I think that addiction is somewhat good. But again, when it is about addiction, there are still negative aspects to it, not financially but for sure for health or relationships with others. |
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Trading is not a passive income; you really need to do a lot of hard work and patience on it, and you also need to keep explaining only the good sides of trading, i.e., the testimony of others that make a living on it, to which you are blind to what they have been through just to get where they are. You should also see the bad sides of it, or you will learn from experience. Trading isn't easy, and it isn't that simple like buy low, sell high." There are a lot of aspects to it, but try to learn them first before jumping to the conclusion that you'll continue or not.
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Let's say if I am already rich, then I don't have any reason to move to another country as I am comfortable where I live, but I do transfer to other towns that are more peaceful and where I am comfortable, but going to another country is impossible because that would be another expense, and for sure, the cost of living where I am transferring is very high.
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Before we only knew that you should fly to a country to have a job in abroad but right now you can now find a boss or client online which it change the traditional way but still if ever i have a chance i do want to go abroad to find a job their because we knew that the salary their are big and the opportunity is ton comparing to where we live but i just want to earn some money abroad and then back to to my country as that is where i lived and where should i die also
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Yeah I agree, before you can establish a casino you also need to have a good amount of capital when we say good amount meaning to say that you can cover all the marketing expenses aside from securing the amount to make a payout. It's not easy as there are competitions that you need to consider and those possible whales who can bring your business down.
With that concept, having more patrons to use your service means that you can generate profits in the long-run, good services with developed trust from gamblers will allow your success.
Years ago it was still possible to start a casino with a relatively low amount of money and succeed, but since then things have changed in a dramatic way and this is no longer true, anyone that wants to start a casino not only needs to have a team dedicated to protect their customers from hackers, they also need top notch customer support, fast servers, many bonuses and to promote themselves heavily over the internet, and not a single one of those things is cheap. Well now when we take into consideration the creation of a casino you have to know what you are getting into, because it is not easy at all, now, if the person who wants to create the casino has a lot of money, there is not that much of a problem, in As far as I am concerned, if a person has a capital that can withstand the losses that a whale player can generate, then everything is fine, because security and everything can be guaranteed with the best devs and hiring specialists in it, I consider that this is what It is a very reckless action. but unlike before that it is not required to have huge money , what i mean is that if you are just have a small capital you can now start a casino which lets say your intentions are legit but right now if you make a casino you'll end up losing because you dont have enough funds to do advertisement , unlike before just post it in social media and forums then there are gamblers will try it. That is why if you have funds even if you ain't knowledgable then you can still make a casino by hiring staff on it. That is why money is very powerful. |
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Market will catch you if you are too confident and greedy for profit that is what happened to you and the possibility that will happen to everyone because there are really time that we got too greedy that is why you need to have self control as well as knowledge on everything so that it can lessen your losses because in trading you really lose there are really time the market doesn't go well on your strategy that is why learn to stay away that time
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Reading another post, it crossed my mind that AIs and particularly ChatGPT could potentially be trained with a large samples of games played by poker champions and then put it to auto-play with amateur on-line players. If this is successful, it could mean the end of human on-line poker playing except perhaps for the world masters and the like. Has anyone tried? Would it be possible??
this could be a possibility in the future because AI was solely made for information via the internet but we can just filter out those champions' moves and strategies then that is possible but as of the moment, chat GPT was not made on it though there are API but still its parameters are for information over the internet and sometimes it is difficult to like to control the information that your really wants. |
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Yes you can make it as a source of income only if you are knowledgeable on it, have a proven track record or stable profits over time and lastly if you can take risk and accept loses. There are a lot of people out there that they are making bitcoin as their source of income but they are not only trading bitcoin it is also other altcoins , but if you are newbie to trading and planning to shift career, it is not a good idea, it is better to make it your side hustle first because it is not always profitable when you are just establishing your strategy.
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There are some who believe the biggest danger is taking a chance. They play it safe. Not realizing not taking risks, could be the biggest risk of all.
Please share what you believe to be the biggest risks in finance.
For the most of persons I have met, the biggest financial regrets they have had, has been not trying out an entrepreneurial dream at an early onset. They had good ideas they didn't embark on while they had the nudge and that has left loopholes. Some of these ventures would have made them millionaires or billionaires today. Those who went after thiers and explored other potentials including financial investments like cryptocurrencies have little regrets these days as they an open destination to financial freedom. Ive just recalled also that some of my friends talked to me about putting up a shop in our place that they see potential in our place but due to the people talking that it is not profitable because of this reason they haven't pursue it but now they just realize that there are a lot of shops about it in the place which is successful if they just pursue it for sure they are the first shop on it and they has a lot of customers. Taking risk is really the regrets of people because they are scared to failure that is why they will not pursue it. |
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You are sending the course that you bough right? if ever he really made an account in Binance and verify it then he gets back to you then give the course you bought , for sure the very first of the course or the introductions are tackling about the risk of trading so for sure he is not dumb to not get it. As long as you are not telling him to deposit $100 in trading platform then its okay. Also he is the one who approach you and not the opposite.
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Davis was really inconsistent. After scoring 30 points in game 1, he only scored 11 points in game 2 with 7 rebounds and had the most turnovers on the team. It was a bad game for Davis, and as a result, the Warriors dominated the Lakers to tie the series.
That's exactly what I was talking about after his good performance in the first game. As we can see, Davis systematically alternates between bad and good performances, and the Lakers seem like a weak team when Davis is having a bad day. By the way, the Lakers were able to avoid problems in the first round against the Grizzlies, even though Davis also had a couple of bad performances. However, the Warriors clearly have more experience than the Grizzlies, and they probably won't miss an opportunity to take advantage of the Lakers' weakness. We should give credit to Draymond's defense on AD without getting into foul trouble, there were one instance in the 3rd wherein Davis was doing some isolation but Draymond held his ground and even go for a steal, it's reminiscent of him doing that to Jokic as well. And then the Warriors doing the adjustment, Vando still putting a lot of pressure on Steph and didn't want to switch and just follow Steph. So what Curry did is to pass the ball that's why he had 12 assists. And Klay finding his rhythm and then we have another role player in JaMychal Green putting in numbers with 15 points. The Golden State Warriors (GSW) are really dangerous when Klay Thompson is hot since we know he is a streaky shooter. He was remarkable in that game, going 8-11 from the 3-point line. That's very impressive, but it's a normal day in the office for Klay. Actually, overall, the Lakers only shot 10-34 from 3PM-A compared to the Warriors' 21-42. They didn't shoot as much in this game and had a combination of outside and inside attacks, compared to Game 1 where they attempted a big 53 shots. Also, the free throw attempts were close in this game compared to Game 1 where the Lakers dominated. The adjustment that coach Kerr did well as they dominated the game after the first quarter, that shooting hands of Klay and the aggressiveness of each player inside the court, everyone really wanted to share. I like that kind of rotations not just for the scoring but more on doing your job stopping your opponents to gain the confidence and start rallying back. Game 2 was fully dominated by GSW as we seen that Lakers already gave up in the early 4th quarter. They were so focused on defending Curry that's why they lost. They double team or triple team Curry so that he can't shoot but since Curry is smart, he takes it as advantage. He attracts the enemy to double team him so that his teammates can be free. That's why Thompson has so many points. I've seen them double team Curry a lot, but Curry always passes to green and then makes an easy basket. That's what I saw winning GSW earlier in Game 2. I've also noticed that if this is still the playstyle of GSW and the Lakers in Game 3, then for sure GSW will win. Though this time I do bet now on the Lakers, as they should make adjustments on game 3 and hope that they will win, if ever they still lose on game 3, there is a huge chance that in this series GSW will win and for sure a lot of my friends will lose. |
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Good thing depending on the usage.
If you're able to use social media for your own good then it is no doubt that its effects to you are good. But if used badly, that's not going to give you the impression that you're having right now.
Because with what I've seen, those people that didn't use it for the betterment and for the opportunities that it has got. That has made them lose their sanity.
I think we all are wasting so much time in watching the videos and dance moves and music that we are becoming lazy and distracted -- the phone has chained us horribly and there is no escape Well, if you're a working person and you watch those type of videos for entertainment and pastime, that's fine. But if you're an unemployed person and you're spending all of your time staying on social media watching all of those contents. Then the problem is in you. And as you've said, you're distracted and attached to social media which is a problem that many are experiencing as of today. the need of the time to learn the art of digital art - creating videos and meaningful images where you can convey your meaning in a second. Social media is a great platform but you have to put in a lot of hard work to it. But still it is more easier now than before because lets say you need to promote your business you need to go outside and give flayers to everyone or in radio you pay an ads to advertise your business, right now you can do it in online because it has more audience and most people are into online world which is advantage right now and less effort than before but still you need do the hard work but it is way less than before |
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