Wise thing to do with your savings.

[conanshinichi]

20% of the income I will deposit long term in the bank for my children later.

[1713953377]

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[1713953377]

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[Fatanut]

20% of the income I will deposit long term in the bank for my children later.

You know what that never really made sense to me. For me, you have to spend all of your money to your kids. You have to enroll them in the best school that you can afford, feed them the highest quality of food (take note: high quality foods aren't necessarily expensive; an apple is already quality food), go on a vacation with them, live in the best neighborhood that you can afford, etc. There's just no point to save for their future but then leave the present half-ass funded. By the time that they are 18, since they had a good education and they have a well-developed brain (because of the high quality food), they can fend for themselves already. You see incompetent people aged more than them and the reason for that is because they were never given good education and their foods aren't that nutritious. But this is just my opinion, of course. Give everything to your kids today, not in the future.

I mean, would you rather have a child with no money but has great education, and has high IQ or a child with funds (from your savings) but has mediocre education, and an immature brain? I'd rather have the former.

(But of course I'm not saying you should not save for emergency funds, I'm just saying that you shouldn't save for their future. Work on their present so in the future they will be able to survive and make money by themselves. I'd like to add that wouldn't saving for the future of your kids would mean that you know for a fact that your kids wouldn't be able to fend for themselves in the future, meaning deep inside you're thinking you are not raising them well enough?)

[Sirait]

it would be better if we still have savings outside the cryptocurrency  because if we have an emergency need it will be able to use it easily and not affected by the market price at that time, so I always take some profit I've got to save in the bank

the way you do is very good, save a portion of the profits just in case, if the market is in a bad condition. currently, the market conditions are in a downward trend, and I don't have savings, because my nature is too consumptive, this is what I really regret, and I really hope for the rising market conditions 

[Impulseboy]

In my experience, putting it in time deposit does not make you earn as much profit as investing it in stocks or bitcoin for that matter. The only benefit of putting it in time deposit that I can think of as this moment is that you can only withdraw your money at a certain point so you can be guaranteed that you will not spend the money on something just because you want to and you can.

[parapencariuang]

if you  asking about the wise thing to do with your saving, the absolute answer is to use it as you want at first, and for the next thing is to search for good investment to yourself. Investment could help you in many things in the future. Be sure not to wasting your saving in some useless investment.

[dongyi17]

Dont buy to much with your limited income, save your money as much you can save. Buy only if you needed. You can save your money in the bank some bank have interest, but this is small interest only. YOu can buy also in sale so you can save money. Save your electricity and many more..

[biletskiy]

In my experience, putting it in time deposit does not make you earn as much profit as investing it in stocks or bitcoin for that matter. The only benefit of putting it in time deposit that I can think of as this moment is that you can only withdraw your money at a certain point so you can be guaranteed that you will not spend the money on something just because you want to and you can.

I try to diversify my investments. Actually, I deal with the cryptocurrencies and I keep traditional money in the trusted bank. I also buy gold, silver, and platinum sometimes.

[arin_muah]

In my experience, putting it in time deposit does not make you earn as much profit as investing it in stocks or bitcoin for that matter. The only benefit of putting it in time deposit that I can think of as this moment is that you can only withdraw your money at a certain point so you can be guaranteed that you will not spend the money on something just because you want to and you can.

I try to diversify my investments. Actually, I deal with the cryptocurrencies and I keep traditional money in the trusted bank. I also buy gold, silver, and platinum sometimes.

you have good plan with your money.and maybe it will run well as your plan.diversify our asset is an obligation for us , in order to survive in this risky market.

[Helpme_please]

Dont buy to much with your limited income, save your money as much you can save. Buy only if you needed. You can save your money in the bank some bank have interest, but this is small interest only. YOu can buy also in sale so you can save money. Save your electricity and many more..

diversify our money into low and high risk investment could make us safe this.cryptocurrency maybe could give us high profit , but we should have extra money to fullfill our daily needs if this investment working not well.

[robbietobby]

I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?

You could (and probably should) put it into some form of a safer investment. There are a lot of stock options out on the market that allow for pretty continual growth albeit very slow. This would be better than just leaving your money in a risky investment or just letting it sit under a mattress somewhere because at least you collect some interest. As you keep making money, you'll end up with more in that emergency fund until it becomes something that you can actually work with in a few years/decades.

If people spend less, businesses do not make profits. If businesses do not make profits they make job losses or they higher their prices. This can have a direct impact on a families disposable cash; it will decrease. Office for National Statistics, showed that without a sharp drop in household saving in the second quarter, there would be a drop in households' incomes. Therefore the ONS said that people should actually start listening to Government incentives and follow their encouragement to spend more. This way, they would actually increase their overall wealth.

Reference: http://www.bbc.co.uk/news/business-11426497%5D%5D

[boboto]

if I had at least a minimum savings I would try to keep them

[optap]

Do not sell the benefits is not, it will be better to keep

[Bhargurn]

It is better to invest your savings in securities. For example, by March, compared to January of this year, the amount of money contributed by the population invested in stocks, bonds and other securities increased by 239 billion and reached 3.7 trillion

[missmaria]

Everything depends on the incomes, actually you can save up to 80$ if your income is suitable for that....but actually 20% is a minimum, I agree here.

[Btcalimie]

I think the wisest thing to with your savings right now is to buy more coins. As the price falls this is a good opportunity for starters to buy coins since it will surely gives profit in a long run.

[ordato]

now you need to keep your savings selling a very bad decision

[glenntalbot]

Advice: Don't spend your savings until you are no longer needing to save.

[Menawi12]

it would be better if we still have savings outside the cryptocurrency  because if we have an emergency need it will be able to use it easily and not affected by the market price at that time, so I always take some profit I've got to save in the bank

the way you do is very good, save a portion of the profits just in case, if the market is in a bad condition. currently, the market conditions are in a downward trend, and I don't have savings, because my nature is too consumptive, this is what I really regret, and I really hope for the rising market conditions 

I think we learn from the past and fixing it in the future. Mistake always happen in our investment and we should make a plan. Saving our profits will make us more relax when market volatile like what happen right now

[finzyoj]

In my experience, putting it in time deposit does not make you earn as much profit as investing it in stocks or bitcoin for that matter. The only benefit of putting it in time deposit that I can think of as this moment is that you can only withdraw your money at a certain point so you can be guaranteed that you will not spend the money on something just because you want to and you can.

I try to diversify my investments. Actually, I deal with the cryptocurrencies and I keep traditional money in the trusted bank. I also buy gold, silver, and platinum sometimes.

you have good plan with your money.and maybe it will run well as your plan.diversify our asset is an obligation for us , in order to survive in this risky market.

Wise thing to do with your savings is keep your investment here in crypto , hold it now that the market is really not in good condition. Then you can invest also on properties like land,  coconut farm and also in stock market.  Looking to gain more in your saving is the best thing you can do now .

Always strive for new improvement/progress in your savings because the price of goods are getting higher and higher now

[dreico]

now I'm thinking just to keep my savings away from selling them during a panic, you need to be patient