How to save money.

[freeyourmind]

Not really, FIAT money is not a joke at all. What makes it a joke is how fiat money is handled by governments, we are living in a corrupt economic system and we don't even know how it is to live different life.
That is why we need bitcoin to show people that we can change reality and made people's life easier, so they could actually save money instead of spending everything!

My referring to it as a joke is in the context of the current system, with a government that has self-interest over the interest of the citizens.
Of course, assuming responsible monetary policy and a benevolent and intelligent government, fiat would work just fine, but that is on the opposite end of the spectrum compared to where we currently are.

It seems like the technology behind bitcoin has the potential, but until it is accepted as widely as a credit or debit card, it will not be able to compete against a widely accepted fiat currency.  It will be a long time before that happens, if it does happen.

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[anonyymi]

Some simple tips for saving money:

-Use cash, don't buy on credit.
-Don't eat out.
-Don't buy coffee from starbucks/etc.
-If you want to get drunk, stay away from pubs/bars: your/friend's home is a nice, cheap and secure place to get hammered.
-Don't spend money on big house, buy a flat instead. Home is not an investment (unless you rent it away some day).
-Get rid of a car or two.
-If you really need some electronics/hardware, buy them used.


After you start to manage saving some money on a monthly basis, invest it. Nothing is worse than having money sitting and being eaten out by inflation.
Buy stocks, ETFs, mutual funds (vanguard is the best), bonds, bitcoins, (gold, silver).

You can also consider investing some money on personal education (books, audio books, classes, certificates). There's also tons of free information on the internet.

[lophie]

VERY good advice thank you. Even though it is pretty basic there are sadly a few people following these guidelines.

Also if you want to extend to crypto and other forms of "reserve". Why not recommend gold? (P.S for joesixcoinsofgold: Please for your reserve buy SCRAP GOLD or small bars)

[anonyymi]

VERY good advice thank you. Even though it is pretty basic there are sadly a few people following these guidelines.

Also if you want to extend to crypto and other forms of "reserve". Why not recommend gold? (P.S for joesixcoinsofgold: Please for your reserve buy SCRAP GOLD or small bars)

Well, not investing on gold is just my own opinion. I see gold just as a way to store value, I don't believe it has anything new to offer (unlike bitcoin). The only scenario where gold would outpace every other asset type is if everything crashed (WW3 or total economy collapse) and we went to some dark age shit.

[GreenStox]

It's not impossible to save in this economy; although the average person is discouraged from doing so with low interest rates and the culture of consumerism like you mentioned, to constantly update or upgrade products.

I would say gold/silver and cryptocurrencies are good to hold as a safety net, in the event of a currency collapse/hyperinflation, but shouldn't be the only investment.  At the end of the day, the monetary expansion of currency flows through Wallstreet and the stock market.

A couple years ago I started buying physical precious metals and although I'm glad I own it, it's not my primary investment for returns.  If it was, it wouldn't be a good one.

I think fiat currency is a joke, but the majority of people don't think that, so the game keeps going. 

Well if you put it like that, yes there are short term investments only in the fiat-based economy.

Like now as all currencies sink the dollar is growing because it's perceived as a safe haven currency, while every other CB buys it either because it;s forced to do so or because its a tradition.

So i could buy dollar now and hold it a few months then sell. It would probably make a good return, however it would still be a crappy investment.

It depends how long the FED can stall QE4, but I don't really want to find out, my guess is probably until december, so you could gamble your money and put it in dollar and see if you make a return but definitely sell it after a few months... Because eventually the dollar will come down too.

[Dotakels]

Some simple tips for saving money:

-Use cash, don't buy on credit.
-Don't eat out.
-Don't buy coffee from starbucks/etc.
-If you want to get drunk, stay away from pubs/bars: your/friend's home is a nice, cheap and secure place to get hammered.
-Don't spend money on big house, buy a flat instead. Home is not an investment (unless you rent it away some day).
-Get rid of a car or two.
-If you really need some electronics/hardware, buy them used.


After you start to manage saving some money on a monthly basis, invest it. Nothing is worse than having money sitting and being eaten out by inflation.
Buy stocks, ETFs, mutual funds (vanguard is the best), bonds, bitcoins, (gold, silver).

You can also consider investing some money on personal education (books, audio books, classes, certificates). There's also tons of free information on the internet.

Your so funny . your reffering to your self   but you have a good idea.

[freeyourmind]

Well if you put it like that, yes there are short term investments only in the fiat-based economy.

Like now as all currencies sink the dollar is growing because it's perceived as a safe haven currency, while every other CB buys it either because it;s forced to do so or because its a tradition.

So i could buy dollar now and hold it a few months then sell. It would probably make a good return, however it would still be a crappy investment.

It depends how long the FED can stall QE4, but I don't really want to find out, my guess is probably until december, so you could gamble your money and put it in dollar and see if you make a return but definitely sell it after a few months... Because eventually the dollar will come down too.

I agree about the relative appreciation against other currencies.

When you say buy the dollar, what would you be buying it with?  I assume the dollar is the default form of money.

I haven't had much faith in the stock market over the last few years, but have started trading again, and I'll give you an interesting example.  I have a company pension that gets thrown into a bullshit portfolio of mutual funds and bonds with limited options.  I don't really touch anything in it, and made about a 15% return in a year.  I consider that a crappy investment, but decent return for managing it passively.

Has the fed talked about a possible QE4?  I just hear them talking about hinting at an interest rate hike, and then delaying it, pushing the markets higher each time.

[Netpyder]

saving is impossible unless you get a good amount of cash every month. which will then make you buy more stuff because wants always overcomes needs. there are people who are able to save from little to big. but it wont be long before they have to use the savings again. life is too unpredictable to try find ways to save money. just find a way to invest it somewhere stable. i think its far better

[Q7]

saving is impossible unless you get a good amount of cash every month. which will then make you buy more stuff because wants always overcomes needs. there are people who are able to save from little to big. but it wont be long before they have to use the savings again. life is too unpredictable to try find ways to save money. just find a way to invest it somewhere stable. i think its far better

There is always a way to save and it all depends on how one does it. And the worst thing is that after having saved some money, people tend to leave it in accounts or placing it in fixed deposit which eventually earns negative returns. Investment is the way to go and the best investment is still in yourself upgrading your knowledge and education level. 

[GreenStox]

Well if you put it like that, yes there are short term investments only in the fiat-based economy.

Like now as all currencies sink the dollar is growing because it's perceived as a safe haven currency, while every other CB buys it either because it;s forced to do so or because its a tradition.

So i could buy dollar now and hold it a few months then sell. It would probably make a good return, however it would still be a crappy investment.

It depends how long the FED can stall QE4, but I don't really want to find out, my guess is probably until december, so you could gamble your money and put it in dollar and see if you make a return but definitely sell it after a few months... Because eventually the dollar will come down too.

I agree about the relative appreciation against other currencies.

When you say buy the dollar, what would you be buying it with?  I assume the dollar is the default form of money.

I haven't had much faith in the stock market over the last few years, but have started trading again, and I'll give you an interesting example.  I have a company pension that gets thrown into a bullshit portfolio of mutual funds and bonds with limited options.  I don't really touch anything in it, and made about a 15% return in a year.  I consider that a crappy investment, but decent return for managing it passively.

Has the fed talked about a possible QE4?  I just hear them talking about hinting at an interest rate hike, and then delaying it, pushing the markets higher each time.

I am using EURO, and given the fact that the EUR/USD is dropping now for 6 months straight, if i would hold my money in dollar i would be better off. Off course not in a bank account, either in cash or a trading account.  And the eurozone really doesnt like people holding dollar over here....

But i`m talking about short term trading here, i dont have any confidence in the dollar in the 5 year term.

Also your stock market investment will probably evaporate after the FED stops the printing press. And if they dont then it could go up, however the underlying dollar would eventually evaporate.

A US. stock is a derivative of the dollar so if the FED prints a bunch of dollars to buy a few stocks then unless you pick the specific stocks that are bought (or the indices) then you wont see big return.

I mean its already inneficient with the comission and the trickleing effect, i bet that for every 1% inflation you are lucky to gain 0.7% stock market growth, so its absolutely not efficient (ok those numbers are not exact, but its not 1:1 ratio definitely).

And because of this a rally in the stock market from inflated money is really a shitty investment as you would not beat inflation that way.

[Dotakels]

Good stuff. I always think about how I spend my money and what really makes me happy. Those things are often the cheapest.

Think what is your need and make you happy then do it as long as you dont underestimate other.

[MF Doom]

Some simple tips for saving money:

-Use cash, don't buy on credit.
-Don't eat out.
-Don't buy coffee from starbucks/etc.
-If you want to get drunk, stay away from pubs/bars: your/friend's home is a nice, cheap and secure place to get hammered.
-Don't spend money on big house, buy a flat instead. Home is not an investment (unless you rent it away some day).
-Get rid of a car or two.
-If you really need some electronics/hardware, buy them used.


After you start to manage saving some money on a monthly basis, invest it. Nothing is worse than having money sitting and being eaten out by inflation.
Buy stocks, ETFs, mutual funds (vanguard is the best), bonds, bitcoins, (gold, silver).

You can also consider investing some money on personal education (books, audio books, classes, certificates). There's also tons of free information on the internet.

I posted mostly the same points earlier in the thread, bit I disagree. A home is an  investment, but it helps of you can pay it off early. Tangible assets like real estate are great to add to your portfolio

[Dotakels]

saving is impossible unless you get a good amount of cash every month. which will then make you buy more stuff because wants always overcomes needs. there are people who are able to save from little to big. but it wont be long before they have to use the savings again. life is too unpredictable to try find ways to save money. just find a way to invest it somewhere stable. i think its far better

Saving is always possible. You can't thar you can save when your monthly income is good. It is all depend to y you cant save if you dont like or you are negative thinker. And if you are going to invest like i said. Trust the power of compound interest, it will give to you a better profit .

[Hazir]

saving is impossible unless you get a good amount of cash every month. which will then make you buy more stuff because wants always overcomes needs. there are people who are able to save from little to big. but it wont be long before they have to use the savings again. life is too unpredictable to try find ways to save money. just find a way to invest it somewhere stable. i think its far better

Saving is always possible. You can't thar you can save when your monthly income is good. It is all depend to y you cant save if you dont like or you are negative thinker. And if you are going to invest like i said. Trust the power of compound interest, it will give to you a better profit .

Not really as I said before you need to have higher income than your expenses. And majority of people are only living on the edge of their economical stability (or below it). If you want to have something more from life you need to spend additional money and we have a problem. Either you live as a monk or life slightly better life with a "little savings". Choice is up to you.

[Dotakels]

saving is impossible unless you get a good amount of cash every month. which will then make you buy more stuff because wants always overcomes needs. there are people who are able to save from little to big. but it wont be long before they have to use the savings again. life is too unpredictable to try find ways to save money. just find a way to invest it somewhere stable. i think its far better

Saving is always possible. You can't thar you can save when your monthly income is good. It is all depend to y you cant save if you dont like or you are negative thinker. And if you are going to invest like i said. Trust the power of compound interest, it will give to you a better profit .

Not really as I said before you need to have higher income than your expenses. And majority of people are only living on the edge of their economical stability (or below it). If you want to have something more from life you need to spend additional money and we have a problem. Either you live as a monk or life slightly better life with a "little savings". Choice is up to you.

Like i said its up to you if you save or not,but in my opinion save as you can and don't blame the economical stability of your country. Just enjoy your money and don't forget to save. We have choices so choose the best and think about it and think if your decision will make you happy.

[Fabrizio89]

Don't make stupid investment decisions.

[freeyourmind]

I agree about the relative appreciation against other currencies.

When you say buy the dollar, what would you be buying it with?  I assume the dollar is the default form of money.

I haven't had much faith in the stock market over the last few years, but have started trading again, and I'll give you an interesting example.  I have a company pension that gets thrown into a bullshit portfolio of mutual funds and bonds with limited options.  I don't really touch anything in it, and made about a 15% return in a year.  I consider that a crappy investment, but decent return for managing it passively.

Has the fed talked about a possible QE4?  I just hear them talking about hinting at an interest rate hike, and then delaying it, pushing the markets higher each time.

I am using EURO, and given the fact that the EUR/USD is dropping now for 6 months straight, if i would hold my money in dollar i would be better off. Off course not in a bank account, either in cash or a trading account.  And the eurozone really doesnt like people holding dollar over here....

But i`m talking about short term trading here, i dont have any confidence in the dollar in the 5 year term.

Also your stock market investment will probably evaporate after the FED stops the printing press. And if they dont then it could go up, however the underlying dollar would eventually evaporate.

A US. stock is a derivative of the dollar so if the FED prints a bunch of dollars to buy a few stocks then unless you pick the specific stocks that are bought (or the indices) then you wont see big return.

I mean its already inneficient with the comission and the trickleing effect, i bet that for every 1% inflation you are lucky to gain 0.7% stock market growth, so its absolutely not efficient (ok those numbers are not exact, but its not 1:1 ratio definitely).

And because of this a rally in the stock market from inflated money is really a shitty investment as you would not beat inflation that way.

Yeah I didn't expect the recent rise of the USD either.  What country/city are you living in, if you don't mind me asking?

I don't have confidence in the dollar, similar to yourself, and haven't had confidence for a few years now, however the game goes on.  Banks fail and they're bailed out.  The debt ceiling is reached and then extended.  Interest rates stay low which creates asset bubbles and encourages speculation, and the game still goes on.  The poor depend on income and the wealthy depend on investments.  Incomes don't rise while investments do.  This is just my observation over the last few years, and I am okay putting a certain % of my equity into the market given the risk.

The market as a whole has definitely beat the inflation rate historically (but I know inflation numbers can be measured in weird ways to manipulate the outcome).  Perhaps overall cost of living is a better indicator.  I think the stock market makes 7%/year on average, and government measured inflation is less than that, actual inflation - who knows.  I live in Toronto and our publicized inflation rate is very low, however house prices around here have doubled in the past ~7 years (different areas will have different rates of appreciation), so the cost of living has increased significantly as well.  For those that have participated in those gains, it hasn't been a bad transition, but for people that were not home owners, it's an uphill battle.

Well since interest rates have been held very low, pension funds are being invested into the market consistently, into blue chip, stable equities.  So I have invested in these heavily regulated cash cows.  Canadian banks and telecoms fit into this picture.  Look into it.  The stock price holds a price/dividend yield ratio of about 4%.  Each company raises the dividends each year, which pushes the stock price.  Each company also posts higher revenues each year, and there regulation doesn't allow for new competition.  I don't consider these risky investments.  If the dollar collapses, you're right that these investments will fall, but the implications of a collapse will be much greater than losing a few thousand bucks in the market.  You'd need to worry about your safety when people no longer trust money.  There would be martial law and weapons would have very high worth.

[junglemouse]

Threads like this really help put my life into perspective.

[Gyfts]

It's really not this easy. I like how you've suggested a financial plan, but someone who makes almost 8 bucks an hour can not afford multiple things on top of their daily bills. It's easy to make a financial plan if you make enough money to where you don't have your monthly budgets interfering with each other. For example, medical emergencies. At that type of salary, you're essentially one accident away from any financial savings for anything collapsing. Your car savings, or your house savings, can all be destroyed with the medical side of your life taking over it due to an insufficient "medical fund". Saving money is something everyone would love to do, but when you don't have a decent salary, it's next to impossible.

[Dotakels]

It's really not this easy. I like how you've suggested a financial plan, but someone who makes almost 8 bucks an hour can not afford multiple things on top of their daily bills. It's easy to make a financial plan if you make enough money to where you don't have your monthly budgets interfering with each other. For example, medical emergencies. At that type of salary, you're essentially one accident away from any financial savings for anything collapsing. Your car savings, or your house savings, can all be destroyed with the medical side of your life taking over it due to an insufficient "medical fund". Saving money is something everyone would love to do, but when you don't have a decent salary, it's next to impossible.

Sir, all things are possible 8 bucks per hour? It is enough for a normal person . And you said that all of your savings will be destroyed by pne accident? No . Do you really read this thread? That your savings must 20% of your monthly salary? And its use in 2 different ways? First the 10% is for emergencies,  so you cant spent the other 10% wich must spend in your personal interest like business,investment, and etc. So how possible you can't save? If you do this strategies you can save every month. And like i said theres a choices , save or not so choose.