The first rule of investing is saving

[paxmao]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

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[Davidvictorson]

I agree with you 👍 In addition, one should save up to 3 -5 months expenses before investing any money.

Furthermore, I try as much as possible follow Dave Ramsey principles of investing:

1) Get out of debt and save up a fully funded emergency fund.

2)Invest 15% of your income in tax-favored retirement accounts.

3)Invest in good growth stock mutual funds. Personally, I add digital currency to it.

4) Keep a long-term perspective.

5) Know your fees.

6) Work with a financial advisor.

[NeuroticFish]

"you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

Borrowing for investing is usually a bad decision. One must invest only money he affords to lose. The only "good" way to borrow for investing is if you have plenty of wealth, but it's already locked (properties, companies) and borrowing will provide liquidity.

Also for normal people, I'd suggest to invest only part of the savings, not all. Some should stay for unexpected problems.

However, these are (small) details. The initial rule stands.

[Wexnident]

And it's such a simple rule and yet, some people still can't understand it. Yes, investment is something that could really help you in the future, but it's not really something that you'd want if your current situation is stable enough. Yes, it's unfair, but that's how the world works. At the very least, you should prioritize stabilizing your own financial situation, instead of adding another burden to it. Investing is simply a burden if you're killing yourself while doing it.

It'd also make a life a lot easier if you only bought stuff with your savings, and not money obtained from debt. Debt is a sort of last straw thing that you would only get if you're really stuck in a hard place, starting out investments isn't one of them.

[tyz]

"you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

Borrowing for investing is usually a bad decision.

Normally yes! But not in times where you hardly have to pay interest for borrowing money. Suppose you borrow money for less than 1% per year. The stock market has brought an average return of 7-8% in the last years (blue chips). After taxes and interest, that would be about 5% profit. Of course you have a certain risk, but you always have that when investing, even with equity.
But I would not invest borrowed money in crypto as the risk is much much higher.

[zanezane]

This doesn't apply to other people in different countries though especially for people like me who is from a third-world country which was taught no concept about financial health, everything I knew about finances are all self-taught and discussed with my peers. I think saving is difficult for me because the money from work is just enough to survive alone but not with a family, investing is much more difficult because no one taught us to invest in my country.

[AicecreaME]

I totally agree. Saving must be the first thing to do before investing in any investment vehicle. You must have enough money stored in case of emergency before diving and risking into any investment platforms. Emergency fund is a must before looking into diverisification of investment fund. Because if ever you'll prioritize your investment without back up savings, you'll end up having nothing when your investment fails. So it is really much better to have a savings first, then after fulfilling your savings fund, go and invest in your trusted platform.

Anyone must always be prepared of the inevitable and unexpected events. It is suggested to have a savings that's good for 6 months worth of your expenses to cover unfortunate events. One must have enough money to fund several weeks or months being jobless and having no any other source of income. Investment provides higher opportunity to earn compared to saving alone, but also remember that surviving is essential; if your investment go downhill, you will have no other option to sustain your needs unless you have a savings account.

[Vatimins]

     Makes absolute sense, some people don't even bother to save because of those motivational things they read or see either online or from peers. While these "motivational stuff" do not make things bad for a person, the way it is being understood or taken in is what makes it poisonous for that person. Investing without any back up plans, no savings etc., because of "no pain no gain" or "you first have to jump before you can fly(take the risk)" crap is just so wrong in so many levels. I don't know why some don't even understand this. Yes, some people have been successful with this but those people are just pure lucky or can take so much suffering without giving up. But let's face it, not everyone can be like such. Which results in a lot of people failing in life.

     I wish people would understand that keeping old knowledge is as important as absorbing new knowledge, even more so to be able to fuse old knowledge with the new ones in a way that suites one's needs. While Bruce Lee sums it up nicely: “Empty your cup so that it may be filled; become devoid to gain totality.” it does not mean that you have to get rid of all the old but to instead get rid of the useless ones so you can add new knowledge and be open for new point of views.

-Saving and investing go hand in hand. Nothing lasts forever so never let yourself be unprepared for anything.

[xSkylarx]

This doesn't apply to other people in different countries though especially for people like me who is from a third-world country which was taught no concept about financial health, everything I knew about finances are all self-taught and discussed with my peers. I think saving is difficult for me because the money from work is just enough to survive alone but not with a family, investing is much more difficult because no one taught us to invest in my country.

It is all about mindset, I am in a third-world country too and my salary is just enough to handle my responsibilities but I am still able to save some amount every end of the month even if it is really small. If your mindset is for the long term that you know that you can't just work forever, you will start to save for something to invest in the future. It's difficult to teach financial literacy in a third-world country because most often people here are not yet open-minded for other opportunities. They are still stuck with the tradition of you study, graduate, then work until your age of retirement.

[breathlessz]

This doesn't apply to other people in different countries though especially for people like me who is from a third-world country which was taught no concept about financial health, everything I knew about finances are all self-taught and discussed with my peers. I think saving is difficult for me because the money from work is just enough to survive alone but not with a family, investing is much more difficult because no one taught us to invest in my country.

It is all about mindset, I am in a third-world country too and my salary is just enough to handle my responsibilities but I am still able to save some amount every end of the month even if it is really small. If your mindset is for the long term that you know that you can't just work forever, you will start to save for something to invest in the future. It's difficult to teach financial literacy in a third-world country because most often people here are not yet open-minded for other opportunities. They are still stuck with the tradition of you study, graduate, then work until your age of retirement.

I have seen the same thing happen in my country too, where people are more relaxed in dealing with life, especially financially. they tend to prefer to be employees, and eventually retire, as if not thinking about financial freedom. in the end they do not think about investing for better welfare. On the other hand, it seems that many are satisfied with their way of life and have no long term thoughts

[mindrust]

And to save money, first you need a job.

To have a job, first you need skills.

To have skills, you need education.

You have education, you need time (and money).

To have time (and money), you need to be young (and have rich parents).

[Kelvinid]

Saving is the hardest part of our life, especially when we just only get enough for our necessities. I couldn't say that they don't have a better future but something they miss the best opportunity of their life.

Maybe we are so thankful that we have been given a chance to invest in crypto as not all have the capabilities to do this. If I would like to save, I certainly have to invest this rather than keeping on my wallet or deposited it in the bank. It doesn't matter if I don't have real money in my pocket but al least I have some investment that could save me and give me profit in the future.

Because for me, Invest now, save later.

[Shamm]

   Yeah it's true saving is the most important thing to invest cause the more you save the more value you will received at the end. I related this when I was young in our Small town I sell candies and cegarette  every day I save  1coin  when the time goes by I have enough money to invest and now I'm a investor.

[zanezane]

~

It is all about mindset, I am in a third-world country too and my salary is just enough to handle my responsibilities but I am still able to save some amount every end of the month even if it is really small. If your mindset is for the long term that you know that you can't just work forever, you will start to save for something to invest in the future. It's difficult to teach financial literacy in a third-world country because most often people here are not yet open-minded for other opportunities. They are still stuck with the tradition of you study, graduate, then work until your age of retirement.

You should also know this that when you are from a third-world country, pretty sure that your family is your responsibility too meaning that you will be needing to supplement their needs to because they think that you are their insurance. That's the sad reality in my country and your country, we are cultivated on a mindset that we should get a job and work ourselves while our jobs slowly kill us and take away our soul.

[Gyfts]

Define saving.

Take one of the largest currencies out there, USD, if you "saved" USD over the last 20 years (using 20 years as an extreme example, it can be much shorter than that depending on monthly inflation rates), the same USD in 2001 would have been worth 50 percent more than it would have been worth now. So merely by saving, you lost over 50 percent of the value in your savings over 2 decades. Take this to a smaller scale - every day, you are technically loosing money by holding on to an inflating currency. Not advocating for everyone to throw away any income in currency they get obviously, but saving has its limitations.

[john_nautica]

Saving is the hardest part of our life, especially when we just only get enough for our necessities. I couldn't say that they don't have a better future but something they miss the best opportunity of their life.

Maybe we are so thankful that we have been given a chance to invest in crypto as not all have the capabilities to do this. If I would like to save, I certainly have to invest this rather than keeping on my wallet or deposited it in the bank. It doesn't matter if I don't have real money in my pocket but al least I have some investment that could save me and give me profit in the future.

Because for me, Invest now, save later.

I get your idea, and I also think the same. Instead of saving, which could mean that it will be just be how it was when you saved it, then investing it is much better because it can produce profit. And when profits are gained, then saving it would be good. Although it is true that saving is needed before a person could even make an investment.

[Gozie51]

I may take a different opinion about what you talking about investment and savings. I believe they are mutually inexclusive to each other, that means one does not give rise to the other. Like it doesn't mean that if you save money, then you have automatically invested it because investment is different from saving. If you invest, you have expectation(s) of having or adding additional money, income or profit to it but in saving, you are not necessarily expecting income, profit automatically to it.

Investment is a process to make more profit but savings may be money kept away for future (IMO is not Investment).
Example here with the definition of investment

- you invest so that your money works for you.

Yes the above on quote is investment because it is a process to accumulate more profit but by keeping money as savings is not Investment. Although, you can keep money in the bank but you still don't usually have interest on it.

[Renampun]

...

Borrowing for investing is usually a bad decision. One must invest only money he affords to lose. The only "good" way to borrow for investing is if you have plenty of wealth, but it's already locked (properties, companies) and borrowing will provide liquidity.

Also for normal people, I'd suggest to invest only part of the savings, not all. Some should stay for unexpected problems.

However, these are (small) details. The initial rule stands.

don't really agree with you because there is still the possibility of a bank borrower making a profit if he/she invests his/her loan in the long term...

if have low interest rates and can pay in installments over several years then why not borrow money from a bank for crypto investments because not everyone has cash or large assets for them to buy into Bitcoin for example. even though it is risky and too wild, but if you are right in choosing the coins you want to invest, then you will definitely make big profits.

[NeuroticFish]

don't really agree with you because there is still the possibility of a bank borrower making a profit if he/she invests his/her loan in the long term...

if have low interest rates and can pay in installments over several years then why not borrow money from a bank for crypto investments because not everyone has cash or large assets for them to buy into Bitcoin for example. even though it is risky and too wild, but if you are right in choosing the coins you want to invest, then you will definitely make big profits.

If you invest borrowed money, you invest money you don't afford to lose. And then you've already lost.
Crypto price is fluctuating a lot. And since your strategy contains only the parts where you profit, in the moments the price goes down you'll panic and probably sell at a loss.


So again: if you break the "don't invest money you don't afford to lose" rule, you'll lose. And if you invest borrowed money, you do break that rule.
But no worries, you don't have to go by what I'm saying, you're free to make your own mistakes.

[imstillthebest]

you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh

No one's gonna lend you if you are famous for not paying back the loan .
you can borrow on the people that didn't recognise you but they will first ask for collateral to make sure that they can get something in case you ran away .
 Savings has its own use and I won't touch it but I can only invest if I have extra amount of cash that I haven't put yet on my savings  .

[Leviathan.007]

There are many rules for investing if you read some books to guide you with investing. You can list the money spend per month and you will understand how much money you can get if you stop buying unnecessary stuff. If you just save the money you spend on a cup of coffee per day you can see the effect in the next months, I suggest you read the book named 'Compound effect' by Darren Hardy you understand the compound effect and feel it in your life. Having enough knowledge is power so it's better to read the books and take a look at the strategy of successful people. Knowledge is the key.

[Coyster]

In my opinion, investing and saving somewhat mean the same thing, when you invest, you are putting your money into an asset or something of that sort with the intention of not spending it for the meantime, which means you're saving it, the only slight difference is the risks inherent in investments, there can be profits and losses as well. But just basically saving/keeping your money without investing it also has its own risks in inflation, your money can be devalued with time if the economy is struggling at that very point in time, this can as well mean you'll suffer loss through devaluation.

That's not to say they mean exactly the same thing, but they are kind of synonymous. I also believe one can decide to save in any asset, currency etc they wish, and it can still be called saving (or investing for some), you must not save in fiat currencies only. People save their funds in Bitcoin, Gold, Real Estate etc, keeping just a little of their funds in fiat just for daily needs. I mean, it's not like saving in fiat is totally free from risks, it is not, just like other assets, and then these other assets can provide returns which makes it a good choice for quite a lot of people.

[adzino]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).
-snip-

You should never invest borrowed money on crypto currencies. Trust me, you will regret. The market is very unpredictable. You might lose all your money within seconds if you make one mistake. You might think that you may be able to return the money next year with profit, but the exact opposite might happen. Don't forget the golden rule "Invest what you can afford to lose". You think you can afford to lose borrowed money? I don't think so.

[ultrloa]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).
-snip-

You should never invest borrowed money on crypto currencies. Trust me, you will regret. The market is very unpredictable. You might lose all your money within seconds if you make one mistake. You might think that you may be able to return the money next year with profit, but the exact opposite might happen. Don't forget the golden rule "Invest what you can afford to lose". You think you can afford to lose borrowed money? I don't think so.

This is one of the biggest mistake made by certain investors they borrow money then invest it on crypto and we know how risky they is since this could kill their hopes once sudden market drop happens nor they made mistake on their investment choices then lost everything they have. That's why its really good to invest only the extra money we have and don't try to put anything that we don't own.

Crypto is so promising but the risk is so high that's why need to be careful on our choices and don't join the FOMO since the risk is high there.

[just_Alice]

I especially like this point

- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

That is so true! I know quite a few so-called investors that lent money and are deep in debts, but they constantly buy stocks and imagine that soon they'll become millionaires and pay everything off.

That is the wrong kind of thinking, imo. To make money first one needs to do is at least reach point zero, where at least you don't owe anyone and can safely live off your stable income. Then everything else should come, otherwise not only you lose on those %, but also can't think broad, because the debts will be on the mind. Such people will always look for fast and easy money, while the key to a good investment strategy is patience.

[Kasabus]

I especially like this point

- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

That is so true! I know quite a few so-called investors that lent money and are deep in debts, but they constantly buy stocks and imagine that soon they'll become millionaires and pay everything off.

That is the wrong kind of thinking, imo. To make money first one needs to do is at least reach point zero, where at least you don't owe anyone and can safely live off your stable income. Then everything else should come, otherwise not only you lose on those %, but also can't think broad, because the debts will be on the mind. Such people will always look for fast and easy money, while the key to a good investment strategy is patience.

Exactly. You can't start saving if you are still trapped thinking how to pay your debts. So better pay your debts first so you will have peace of mind and from there, you can start saving for your future retirement.

I know this might be easy to say but quite hard to do. I have been here so i know exactly the feeling. But if you have the positive mindset and you know exactly how to budget your funds, then you can do saving at the end of the day.

[Dread Pirate Roberts]

Be someone who is careful in calculating expenses. needs, and must restrain  desires for unimportant things. and also Always thinking about doubling your money can also motivate you to be consistent in saving and investing. Saving must be more than spending.

[Shasha80]

I especially like this point

- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

That is so true! I know quite a few so-called investors that lent money and are deep in debts, but they constantly buy stocks and imagine that soon they'll become millionaires and pay everything off.

That is the wrong kind of thinking, imo. To make money first one needs to do is at least reach point zero, where at least you don't owe anyone and can safely live off your stable income. Then everything else should come, otherwise not only you lose on those %, but also can't think broad, because the debts will be on the mind. Such people will always look for fast and easy money, while the key to a good investment strategy is patience.

Exactly. You can't start saving if you are still trapped thinking how to pay your debts. So better pay your debts first so you will have peace of mind and from there, you can start saving for your future retirement.

I know this might be easy to say but quite hard to do. I have been here so i know exactly the feeling. But if you have the positive mindset and you know exactly how to budget your funds, then you can do saving at the end of the day.

That's why I always avoid having money loans, it will prevent us from saving. Because if we have debt, the main priority is to pay the debt,
because that is our obligation. And usually people who have debt, their financial condition is not healthy, so it is very difficult to saving.
So first think about how to pay off debt quickly, after that we can calmly plan to saving our money.

[TheUltraElite]

To have time (and money), you need to be young (and have rich parents).

I would agree on the rest but disagree that you need rich parents.

Many people come from poor families but are willing to work hard and get a proper education so they can pursue their dreams. If they manage to get through the rat-race though, they will be earning well and then they will be saving and investing. Of course being happy with your earning is a relative term but I think I made my point.

Unfortunately not everyone is able to make it through - that is where the difference lies.
You can essentially start saving up on costs in different aspects of life. Saving does not necessarily means hoarding money, but cutting down costs as well. Giving an example:

When you buy a new phone try giving your old phone to your parents so they dont have buy new ones, since the companies that produce them essentially want you to buy one every two years. You phone -> parents phone -> This can be a method of cycling the phones and selling the oldest phone from the house.

[Poker Player]

What happens is that there are a few authors like Kiyosaki and others who tell you that it is not worth saving fiat currency, but to get into debt. I am not saying that this is ideal for everyone, but it is another point of view. For them, investing means going into debt, rather than saving.

[oHnK]

I interested to read this thread because my little sister told me about her friend. She asked me to teach how the way to start trading like her friend, fyi She's blind about financial literation. Investing and trading are some kind of strange for her. Then, I teach her. I dont forbid you to learn about tranding or become a trader like ur friend, but I suggest you to learn how to manage ur money first. In this life, if you wanna be success you have to earn 2 kind of incomes. Such as;
1. Active income
2. Passive income

When you work daily as a teacher, you earn 200$ per month. But you just spent your money for needs and wants. If there's residual income, so you save it in the bank account. Just simple like that. But do you think that you have gotten more benefit because of  ur saving? I said, no.

Because, when you save in the bank account. Every year you saving will decrease because of inflation. If you want to learn more and get more. Try to manage ur active income become passive income too. Such as,
You invest in gold, stock, property, then crypto. After you understand more, you advance ur knowledge to be a trader.

The key is active and passive income will save you in the future.

[Xinarae*]

People usually save and invest from their own capital it is not possible to grow in life without saving money at present savings certificates are shrinking the stock market is a place to take risks and interest on bank deposits is declining. Outside of that there are few places to invest hence the need to further expand the field of investment for the common man crypto is a good place for this investing here will save money and people will get double profit.

[so98nn]

A small mistake in financial decisions can lead our families and yourself to years of set back. I have seen this incidence with one of my family member and their close relatives. Though at least two members from their family were in permanent working mode they had to bear all the financial stress due to single member. In my country the families are joint too, which means more expenses in the single house with more burden on the highest wage earner.

Incidences like this can take up all your savings too thus putting the whole family in financial crisis.

So even before to start saving your money, one should also have a contingency plan to avoid such instances.

Then comes actual savings, then expenditures to throwing parties for friends.  

[SacriFries11]

Totally agree on this. Once you start earning money, part of your income needs to be saved. This will benefit you in your future especially if you are still single. Aside from giving money to your family and sometimes splurge on luxuries, a big part of your income must be saved. You also have to learn to invest, its like hitting two birds in one stone. You already saved your money but you will take profit. For example, letting your money in investments for cryptocurrency, besides it is also being used in online transactions and payments. So the first rule of investing is saving..

[kawetsriyanto]

Absolutely ... 
One thing that I always say to myself and also work for me when going to invest in anything both in crypto or even others.
It is about using free money, not using daily or urgent money-saving, or even using some education or future savings.
It will be okay if we have good financial management monthly based on our salary or any income.
the investment should be several percentages from the free money, in which we will not use it for something, or even it may be okay if we lose some more the money as the risks of investment.
Saving, yeah, of course, we must have it, aside from the investment funds. because saving, we sometimes will need the saving money some days and we must cash them out suddenly. but investment, we should consider how long it will be and also the risks of the investment itself.
That is why, I always agree with saying that never invest with money that we cannot afford to lose.

[pinggoki]

The first rule before you invest was to invest only the amount of money that you can afford to lose because in investing there is no instant money here because you are risking your money in a huge return so it is more likely gambling in which just gamble the amount of money that you can afford to lose. That's the first and golden rule in investing. Another thing is that investing is saving, that's right because when you are investing you are saving your future because it is for your own good also.

[lixer]

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

Where you said something about debts, that is very important. When you’re in debt, the money you’re saving and investing is just going to be like you’re wasting your whole time doing nothing. So it’s usually best that you start with paying off your debts and once you have paid off your debts and you’re free , the next thing you have got to start is savings. And when you have finally made enough savings to last you for long, you can then start with investment.

I started my investment with mutual funds, and they were good for me, worked out. And then I added cryptocurrency investment to it. Even though cryptocurrency has changed my life to an extent, I still didn’t quit my job, I still continued with it while I’m also trying to build my own business.

[arallmuus]

- The first step to invest is saving part of your income. No savings, no future.

This statement is not quite right. You invest a portion of what you earned, not a portion of what you saved. After you invest a portion of that, you save a portion of it and spend what is left. Thats pretty much the basic because by turning into this order, you will be able to invest alot more from what you earned instead of just portion of what you had saved after you spent some of it

Investing is pretty much the same as saving but its just so much better because you wont lose any value of your investment due to inflation provided if you are investing in a legit investment that provide a stable return

[Sterbens]

it is no stranger to how many concepts and methods we must always get used to saving for the sake of meeting needs in the future.

in connection with various concepts that are really suitable for individuals in getting used to managing finances, be it 5% or even 1%, it must be an obligation to add half of the income to keep things in check so that in the future we don't bother borrowing from other people.

as an alternative to saving in crypto is a solution as well as the risks that are in it. there is no decision without risk, as well as in deciding to save. all have a level of risk based on what is listed.

However, not a few people are afraid to invest because they are not ready to face the risks of uncertain market conditions.
There are several solutions that I'm trying to mention, one of them is by investing using the Cost Averaging concept.

as an example:

I allocate funds to invest in Bitcoin for $100 per month. although the price of Bitcoin in the market increases in the following month, then by continuing to invest $100 in that month, so the amount of Bitcoin you have will be less than in the previous month

or with the second picture option, if one or two months later the Bitcoin price drops, then keep investing $100 and you will get more Bitcoin.

as a result, with this method of disciplined mentality and being patient, without being affected by the Bitcoin price going up or down, then by continuing to invest $100 and keep investing.



Note: this is just my personal input, doesn't require you to trust it 100%, all back to your research and discoveries in doing various alternatives so that you can continue to get used to saving from an early age.

[sapnu]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I would agree with your statement. Once you enter investment, you should first clear out any debts or credits that are unpaid or anything that tangles you from progressing. You should start off like a blank paper, with nothing on it yet and then you start filling it up slowly over time with assurance or certainty that none of it would ever be taken away from you anymore. No matter how much you are investing, it will still grow so just have the perseverance and the eagerness to make it through because it will all be worth it someday. Patience should be observed whilst investing cause it will determine how far you'll be able to go.

[Ucy]

Investment doesn't necessarily have to be in things that offer immediate financial benefits. You could also invest in your education(good education) , or invest in improving your talents. you can then use what you learn to benefit others and earn a living

[TheUltraElite]

Investment doesn't necessarily have to be in things that offer immediate financial benefits. You could also invest in your education(good education) , or invest in improving your talents. you can then use what you learn to benefit others and earn a living

A good point indeed. Getting a good education does not necessarily mean you have to spend a lot of money. Rather people should follow their dreams because then only they will be the most productive in that field. This is something that is overlooked in the money making race. Hence investing in that type of education will have a future goal of making money and therefore a worthy process.

Maybe we need to change the title because the first rule of investing is gaining knowledge, you have to know first what are you investing too, you should know first the coin that you are investing in it is good or not, also make sure that you are investing in a long term coins and always avoid the pump and dump coins. After the knowledge then we can now next to the saving of money.

The importance of knowledge about what you are putting your money into is no doubt carrying importance. Even today I find people ending up on huge credit card fees because they forgot to pay the bill in within one month because someone selling that card twisted the cashback info - a pretty common thing done by creditcard salesperson. These are things that draw away money from your just because you did not have proper knowledge.

[Lorence.xD]

Investment doesn't necessarily have to be in things that offer immediate financial benefits. You could also invest in your education(good education) , or invest in improving your talents. you can then use what you learn to benefit others and earn a living

But most of the investing still needs saving, with education you need money to continue same with improving your talents you need to save money. I think that any investment needs to have some sort of prerequisite of saving so the investing part is going to be headache free.

[mindrust]

To have time (and money), you need to be young (and have rich parents).

I would agree on the rest but disagree that you need rich parents.

Many people come from poor families but are willing to work hard and get a proper education so they can pursue their dreams. If they manage to get through the rat-race though, they will be earning well and then they will be saving and investing. Of course being happy with your earning is a relative term but I think I made my point.

Unfortunately not everyone is able to make it through - that is where the difference lies.
You can essentially start saving up on costs in different aspects of life. Saving does not necessarily means hoarding money, but cutting down costs as well. Giving an example:

When you buy a new phone try giving your old phone to your parents so they dont have buy new ones, since the companies that produce them essentially want you to buy one every two years. You phone -> parents phone -> This can be a method of cycling the phones and selling the oldest phone from the house.

Those who make it that come from poor parents are usually exceptions. They glitches. I know it is possible but having a wealthy family makes things a lot easier and saves lots of time. They don't have to be ultra rich. I probably couldn't make myself clear enough.

Having a mid-class family is a nice thing to have when you are starting life. In my opinion, it is close to be the best. In some cases maybe it is the best scenario because they still know how to acquire skills and make things work unlike the super rich which only understand one language "money" and the super poor which don't have any skills and not capable of gaining any skills.

Having a good skill at doing something is usually the best way to survive through the life simulation.

[michellee]

as an example:

I allocate funds to invest in Bitcoin for $100 per month. although the price of Bitcoin in the market increases in the following month, then by continuing to invest $100 in that month, so the amount of Bitcoin you have will be less than in the previous month

or with the second picture option, if one or two months later the Bitcoin price drops, then keep investing $100 and you will get more Bitcoin.

as a result, with this method of disciplined mentality and being patient, without being affected by the Bitcoin price going up or down, then by continuing to invest $100 and keep investing.

Note: this is just my personal input, doesn't require you to trust it 100%, all back to your research and discoveries in doing various alternatives so that you can continue to get used to saving from an early age.

It is a good example to describe what @OP says. Maybe people will decide how much money they will use but from that example, they will know that investment in crypto needs constantly and continuously and have a range frame time to invest in bitcoin.

If they do that for, let say, one year, they will see their investment value will increase. But if their investment value decreases, they can continue to invest in bitcoin and allocate more money.

It needs the discipline to invest in crypto because that will not be easy as the market can increase or decrease in the future.

[Sterbens]

If they do that for, let say, one year, they will see their investment value will increase. But if their investment value decreases, they can continue to invest in bitcoin and allocate more money.

It needs the discipline to invest in crypto because that will not be easy as the market can increase or decrease in the future.

precisely. if he invests in Bitcoin, then he will no longer doubt the extraordinary things in the future. if he already knows the potential of Bitcoin, no matter how many times the price drops, he is always sure in the future that what he is investing in is a means of reaping extraordinary results. Therefore, back to the context of one's beliefs and mindset in setting aside money for savings. so, for me it is a good decision to choose Bitcoin. but apart from Bitcoin I'm not too brave to invest above $100 per month. specifically for Bitcoin, I believe anytime and anywhere. it was the best choice for me personally.

[LogitechMouse]

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

1. I can consider myself as lucky still even though I just learned how to invest after studying. I've seen some people especially here in our place that are many years older than me and yet they didn't have any investment or worst they know nothing about investment. That quote "Make your money work for you" is my first reason why I want to invest at first. Now there are many reasons.
2. I knew it already that is why I sacrificed some expenses from foods and travel expenses just to have something to invest. I even stopped topping up in some online games that I've played just because of investing and guess what, that is one of the best decisions that I've made in my entire life .
3. I agree with this. I've seen people around here and even here in our country that became old and yet they didn't have any savings at all. That is why I commend those people especially those young kids that are starting to save their money already. For sure I will teach this to my kids. The habit of saving and investing .
4. I don't have any credits at all but if I have, it is always my priority and TBH, I even prioritizing credits and debts over house bills and expenses because I don't want to have any credits at all. I only take credit when I have no choice anymore.

Main point?? Invest, put a portion of your income into investing and save money regularly . That are some of the ingredients to financial freedom .

[sana54210]

Those who make it that come from poor parents are usually exceptions. They glitches. I know it is possible but having a wealthy family makes things a lot easier and saves lots of time. They don't have to be ultra rich. I probably couldn't make myself clear enough.

Having a mid-class family is a nice thing to have when you are starting life. In my opinion, it is close to be the best. In some cases maybe it is the best scenario because they still know how to acquire skills and make things work unlike the super rich which only understand one language "money" and the super poor which don't have any skills and not capable of gaining any skills.

Having a good skill at doing something is usually the best way to survive through the life simulation.

That's the reason why all the rich people in the world have rich families as well, it is just how the world works. You do not need to have Elon Musk as your parent in order to become a super rich person, in fact when those people get super rich they have a lot of kids and then their kids are a bit less rich then them.

However Elon Musk did had a father who owned a mining business and was a rich guy, so Elon used his daddies money to get here so far and yeah he put a lot on top of it but what did he really do? He bought Tesla when it was already making electric cars he didn't founded tesla, so it is not really that shocking to say he is rich, he just made good investments that's it.

In the end I would say that coming from a very poor family and becoming rich is a pipe dream, sure you could be a millionaire, but I do not think that anyone came from very poor family and broke over a billion dollars, that's very very rare, maybe a few people in the entire world of thousands of workers.

[michellee]

If they do that for, let say, one year, they will see their investment value will increase. But if their investment value decreases, they can continue to invest in bitcoin and allocate more money.

It needs the discipline to invest in crypto because that will not be easy as the market can increase or decrease in the future.

precisely. if he invests in Bitcoin, then he will no longer doubt the extraordinary things in the future. if he already knows the potential of Bitcoin, no matter how many times the price drops, he is always sure in the future that what he is investing in is a means of reaping extraordinary results. Therefore, back to the context of one's beliefs and mindset in setting aside money for savings. so, for me it is a good decision to choose Bitcoin. but apart from Bitcoin I'm not too brave to invest above $100 per month. specifically for Bitcoin, I believe anytime and anywhere. it was the best choice for me personally.

The beauty of bitcoin (I would call it the beauty of how we can invest in bitcoin ) is we can invest in any amount, even we can buy bitcoin for $1, but we need to consider paying the fee of the transaction if we buy from the exchanges. Maybe we can try saving the money for $10 every week or month to invest in bitcoin for about one or two years. We do not have to force ourselves to invest in bitcoin using big money if we do not have much money, although we know the potential of bitcoin in the future. We need to manage our funds because we need that money to survive this pandemic, but we also prepare our future by invest in bitcoin.

[Vishnu.Reang]

Entire thread is confusing. Because in most cases, the funds for investment comes from savings. I don't know a lot many people, who take out loans so that they can invest. And it is a risky option as well. In my case, 100% of my funds for past investments (including my purchase of Bitcoin in 2017) came from the money that I saved from my monthly income. And then again, how much you can save depends on your financial condition. If you have just started with your career, then I don't expect you to save a lot. Because during the early phase, the salaries will be low, and a lot of expenses need to be taken care of. You need to worry about the savings only after getting yourself settled.

[swiftbits]

The best way to get huge investments is to increase income streams and avoid lifestyle inflation.
If 50% of my income is enough for me, then 50% would be an investment.
The investment could be many things; it could be for yourself to level up your value.

[maxreish]

Indeed a good insight bout investing. If we wouldnt do this now, emercency situations will just left you some regrets. Also, I kind of agree that investing is saving up money for future. I do not think lending money for investment is good especially in crypto investments, where volatiliy will not guarantee you pay that money.

Take note that a successful investor will take any risk and noy by avoiding it.

[Yatsan]

Indeed. If you do want to invest into something that needs to spend money, of course you do need to save and earn money to afford spending. Rather than borrowing money from a bank or to someone you do know, it is still best to spend money on investing that comes from your own hand because if ever such investment fail, then you at least have no debt into someone that you will be hard to pay with. Also, upon doing investment, not all money you have saved must be put in all together. Only invest into the amount you can just ignore or afford to loose in a way you will not get frustrated when you loose such amount.

[GeorgeJohn]

Investment have a dynamic characteristics from my perspective, because some people invest without budgeting or planning for it because the capital is there, so op from your perspective or perception your right, because the Genesis of investment started with savings plans, i can consider the factor of saves as primary obligation of investment and also consider a process of having the plans of investment without cash to establish or activate it, because we can develop the mentality of investing but the cash is not there to activate it, but due to the plan is in existence you consider to lend with collateral in order to invest knowing that it will yields positively in time coming.

[oHnK]

Indeed. If you do want to invest into something that needs to spend money, of course you do need to save and earn money to afford spending. Rather than borrowing money from a bank or to someone you do know, it is still best to spend money on investing that comes from your own hand because if ever such investment fail, then you at least have no debt into someone that you will be hard to pay with. Also, upon doing investment, not all money you have saved must be put in all together. Only invest into the amount you can just ignore or afford to loose in a way you will not get frustrated when you loose such amount.

Investing with debt isn't matter if you can manage ur financial. Credit is one of the ways for investing, for example home credit, property with credit, those are the kind of investing. I dont think that those are bad for our financial instead of those help us to get asset with easiness. But for our notes, when you wanna try to take debt you have to choose for paying productive sector because when you pay investing with debt you should make sure that ur investing can earn passive income.

[bryant.coleman]

Investing with debt isn't matter if you can manage ur financial. Credit is one of the ways for investing, for example home credit, property with credit, those are the kind of investing. I dont think that those are bad for our financial instead of those help us to get asset with easiness. But for our notes, when you wanna try to take debt you have to choose for paying productive sector because when you pay investing with debt you should make sure that ur investing can earn passive income.

This is like the worst possible thing to do. If you take out a loan to invest, then the chances are that you will end up with a net loss. Let's consider a scenario. An individual takes out a loan at an interest rate of 12% per year to invest in certain assets. Now he can't invest in bank deposits, because the interest rate will be much lower than what he needs to pay on the loan, and on top of that, he needs to pay tax on that interest income as well. So that option is ruled out. Now comes the other options such as stocks and bullion. 12% return may or may not be possible with the stocks. But remember that taxes need to be paid on capital gains, even in this case. So after the taxes, the individual may be left with a net loss, unless for that year the returns from the stock market is exceptionally high. 

[Fredomago]

Indeed a good insight bout investing. If we wouldnt do this now, emercency situations will just left you some regrets. Also, I kind of agree that investing is saving up money for future. I do not think lending money for investment is good especially in crypto investments, where volatiliy will not guarantee you pay that money.

Take note that a successful investor will take any risk and not by avoiding it.

Successful investors always take advantage of potentials that most people afraid taking their steps inside, the risk is there, as always whatever form of investment there's risk that accompanying behind.

It will depend from each characters or attitude that each traders and investors have to look between the line, positive investors see potentials while those who can't handle the risk will give up and forget about it.

Staying away is just the same with losing your chances and regrets once you find out that everything went well. Find the right investment as it will save you a lot for your retirement.

[markdario112616]

...

Maybe we need to change the title because the first rule of investing is gaining knowledge, you have to know first what are you investing too, you should know first the coin that you are investing in it is good or not, also make sure that you are investing in a long term coins and always avoid the pump and dump coins. After the knowledge then we can now next to the saving of money.

Agree on the knowledge thing 'coz it's really a must, especially nowadays that they'd thrown their money it useless things and engaging with scams.

Though, I might take another turn on that first rule. The first rule should be is having money, I get it informative/smart beats hard worker at some levels but to start with investing you should always have money to use or to spend.

Saving and Investing money are 2 different things. One acts passively and the other is aggressive. By saving money, you don't need too much information on how to save. By the nature, one is just keeping the money away. Unlike in investing, which needs time and effort before you can initiate something or start on it.

[dezoel]

This is the hard part because saving when you are making a very little income is not something easy. I have faced this most of my life where I had trouble saving, these days thankfully I am saving a bit enough to put aside some crypto, in fact I saved enough to actually worth something once and then I participated in an investment that I rather talk about and then that went belly up so I had nothing left, but since the start of this month I once again started to save a bit, and then I will keep saving more and more in the future as well.

It is just a something that you should be doing because you are capable of doing it, but if you are incapable of saving money then you should not look for that and hurt your finances just to save some aside. I advice those people to have a side hustle, that way you could earn enough from your own job to cover your needs, then you could go online and work to make 50-100 bucks per month to save aside.

[bakasabo]

For me the first rule of investing is not to listen to anyone, but if heard something, check it two-three times.
I havent invested a lot, and I’m not a frequent investor, but I have already “burned” myself with bad investments. Listened to someone promisses and bought something without checking what is behind that asset.

[andriarto]

For me the first rule of investing is not to listen to anyone, but if heard something, check it two-three times.
I havent invested a lot, and I’m not a frequent investor, but I have already “burned” myself with bad investments. Listened to someone promisses and bought something without checking what is behind that asset.

when we decide to invest, indeed the most important thing is to learn it first, whether in any investment. we can take for example bitcoin, which has not been legalized, but has a good opportunity to invest, on the other hand I think it also has a greater risk than land investment, therefore we can consider what percentage of the money we have to invest in btc

[michellee]

For me the first rule of investing is not to listen to anyone, but if heard something, check it two-three times.
I havent invested a lot, and I’m not a frequent investor, but I have already “burned” myself with bad investments. Listened to someone promisses and bought something without checking what is behind that asset.

when we decide to invest, indeed the most important thing is to learn it first, whether in any investment. we can take for example bitcoin, which has not been legalized, but has a good opportunity to invest, on the other hand I think it also has a greater risk than land investment, therefore we can consider what percentage of the money we have to invest in btc

As long as we know the risk and manage the risk, not become bigger, we will not have a problem. Bitcoin can be an investment thing even if many countries have not been legalized it. Besides that, when we have bitcoin, we do not have to report to our government unless they investigate the country's bank account.

Investing or not is depend on our decision and it is better if we learn many things before investing so we know the details and do not panic when happening something.

[Anonylz]

It is always adviceable to save for a raining day, meaning it is always good to have some savings aside even if we are not investing in any project of assets. it is true there are many people who don't take saving very serious, they spend every penny they own as it comes, which is a wrong approach if anyone desire to invest in any asset, lets just say saving plays a huge role in the path to investment.

[Obito]

Why not just invest altogether? I mean there are options whereyou can invest directly even with small amounts because investment is much better than saving because you don't get interest when just simply saving. Look at options out there, there's Index Funds or Cryptocurrencies that don't need a lot money to simply start.

[perfect999]

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

Sure, there is no way that you can start investing when you don’t even have savings. So people who say that are absolutely right for saying. Before you start investing you need to have enough savings in your account, and from there you can take out money and start your investing.

Next, before you talk about investing with your savings, it would be really important that you have cleared out your debts just like the op has said. That’s totally right, because if you don’t pay your debt, you’re just going to have them sucking up every profit you make later on.

[cheezcarls]

This is exactly what I have been doing when I was still new to cryptocurrencies. Before investing in such opportunities along with doing my own research and proper risk management, I’m focusing on earning more from my gigs, airdrops, bounties, etc., and start saving money. As I have accumulated my savings since the pandemic began, it gives me great opportunities to invest in some promising coins, tokens and NFTs.

Always have savings like it’s your insurance policy when something bad happens in the market.

[Taskford]

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

Sure, there is no way that you can start investing when you don’t even have savings. So people who say that are absolutely right for saying. Before you start investing you need to have enough savings in your account, and from there you can take out money and start your investing.

Next, before you talk about investing with your savings, it would be really important that you have cleared out your debts just like the op has said. That’s totally right, because if you don’t pay your debt, you’re just going to have them sucking up every profit you make later on.

Sometimes we don't need to have savings before we start since there are several people who invest on their  ideas and borrowed money just to make their ideas became a profitable source of income unto them and once profit already generated they can start saving and maybe they can use that on making their business grow or try your luck on another platform.

Also I agree clearing our debts is a must and we must prioritized that once we earn since if we skip to pay that for sure the interest will grow and that's not ideal to us since this  will take some part of our savings or capital.

[xSkylarx]

For me the first rule of investing is not to listen to anyone, but if heard something, check it two-three times.
I havent invested a lot, and I’m not a frequent investor, but I have already “burned” myself with bad investments. Listened to someone promisses and bought something without checking what is behind that asset.

It's what we call "hype," as when Elon Musk hyped bitcoin and Doge, and a lot of people jumped on the bandwagon. The majority of investors will conduct research into what they intend to invest in because they do not want to lose their money, thus this is the wisest course of action. There are many worthwhile investments available nowadays, but you should only do so if you can afford to lose your money.

Saving money is beneficial for the future, but it requires discipline. I am not good at saving and would like to learn because if I do save, I will be able to utilize it for something in the future.

[BuNga_cute]

~

Sure, there is no way that you can start investing when you don’t even have savings. So people who say that are absolutely right for saying. Before you start investing you need to have enough savings in your account, and from there you can take out money and start your investing.

Next, before you talk about investing with your savings, it would be really important that you have cleared out your debts just like the op has said. That’s totally right, because if you don’t pay your debt, you’re just going to have them sucking up every profit you make later on.

Sometimes we don't need to have savings before we start since there are several people who invest on their  ideas and borrowed money just to make their ideas became a profitable source of income unto them and once profit already generated they can start saving and maybe they can use that on making their business grow or try your luck on another platform.

Also I agree clearing our debts is a must and we must prioritized that once we earn since if we skip to pay that for sure the interest will grow and that's not ideal to us since this  will take some part of our savings or capital.

I think it's too risky if there are people who invest even though they don't have savings, because investment sometimes takes a long time to
generate profit. Meanwhile, if we have an urgent need, we are forced to use the money used for investment, because we do not have savings.
Even though there is a possibility that the price of the coins we buy goes down when we need money. So my advice should be if we are going to
invest in crypto already have savings first. Regarding the problem of debt, I agree with you, that paying off debt is a priority. Because if we don't
paid it can really interfere with our financial condition. Moreover, if we are late paying debt installments,  there are fines that must be paid.
Therefore it is better not to have debt.

[semobo]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

Experts say save 30% of your salary to become invest which is obviously possible when we are ready to sacrifice the expenses of our short term pleasure. I would say avoid the expenses which you are allocating for your entertainment purpose which is going to make your life better if we are investing that money into an asset which has potential to grow.

Also, we can avoid the money we are spending on gadgets and cosmetics which has literally no use unless you are working in that field.

[oHnK]

Investing with debt isn't matter if you can manage ur financial. Credit is one of the ways for investing, for example home credit, property with credit, those are the kind of investing. I dont think that those are bad for our financial instead of those help us to get asset with easiness. But for our notes, when you wanna try to take debt you have to choose for paying productive sector because when you pay investing with debt you should make sure that ur investing can earn passive income.

This is like the worst possible thing to do. If you take out a loan to invest, then the chances are that you will end up with a net loss. Let's consider a scenario. An individual takes out a loan at an interest rate of 12% per year to invest in certain assets. Now he can't invest in bank deposits, because the interest rate will be much lower than what he needs to pay on the loan, and on top of that, he needs to pay tax on that interest income as well. So that option is ruled out. Now comes the other options such as stocks and bullion. 12% return may or may not be possible with the stocks. But remember that taxes need to be paid on capital gains, even in this case. So after the taxes, the individual may be left with a net loss, unless for that year the returns from the stock market is exceptionally high. 

There are so many people out there using debt for paying their business, I think that isn't matter, you are right for ur opinion but I dont think that my opion is worst. Almost all chinesse have their own debt for supporting their business, not only them but also Michael Saylor using obligation for buy BTC, I dont think that was a worst decision as a CEO of the popular company.

[TheUltraElite]

it is true there are many people who don't take saving very serious, they spend every penny they own as it comes, which is a wrong approach if anyone desire to invest in any asset, lets just say saving plays a huge role in the path to investment.

Most people who do that end up learning their lesson when life throws a problem at that. But there are compulsive spenders as well to whom these words dont make any sense and the supermarkets make sure to cash out on these people.

A 5-10% saving is always a good habit even from a younger age. The importance of that has been taught to many people during the last year during a global crisis when people needed money at hand to keep them afloat. Diligent people know how to balance the saving and investment. But first savings then comes investments which follows what the OP has mentioned.

Why not just invest altogether? I mean there are options whereyou can invest directly even with small amounts because investment is much better than saving because you don't get interest when just simply saving. Look at options out there, there's Index Funds or Cryptocurrencies that don't need a lot money to simply start.

Problem with smaller investments is that mostly the money put in might not give you a return enough to justify the work done to get those.

Index funds - I usually find buying the specific stocks a better option, because I know that company and know their track record. Index puts in a lot more than that, lacking research and therefore possible losses in future.

Low priced crypto - That would be altcoins and specifically shitcoins. Something that I advice everyone against buying. If you can make money with it good for you, but it is not for newbies and people entering investing.

[Obito]

~snip

Problem with smaller investments is that mostly the money put in might not give you a return enough to justify the work done to get those.

Index funds - I usually find buying the specific stocks a better option, because I know that company and know their track record. Index puts in a lot more than that, lacking research and therefore possible losses in future.

Low priced crypto - That would be altcoins and specifically shitcoins. Something that I advice everyone against buying. If you can make money with it good for you, but it is not for newbies and people entering investing.

Index funds are a collection of different companies and it's already been proven all along that it's a much better option to buy index funds compared to actively trading, choosing the stock is indeed profitable but the problem is if it's a famous company internationally, there's a chance that you are already late you will invest in smaller amounts. If the people were to DYOR when it comes to investing in so called shitcoins and altcoins, I think that they might be able to get a profit out of it.

[Bravehash]

Solid foundation matters, in 2017 when BTC was surging I was so down that I couldn't afford much but I believe the future will be better, to invest you have to have a fall back plan, if you can afford to invest 1000$ on crypto you should already have 5000$, many might say otherwise but this is how I role so that I can sleep well at night, invest only what you can afford to lose

[ChiBitCTy]

This is a pretty good start here I have to say.  As a financial advisor I see a lot of "investing advice" on here that makes me cringe to say the least.  I recently did a write up here where I discuss the basic of financial planning and why bitcoin is NOT an alternative to traditional investment such as stocks, bonds, etc.  You can read my write up here.  If you're looking for some basic financial advice on how to structure a portfolio from someone who is licensed to give it, please take a look - https://bitcointalk.org/index.php?topic=5288768.msg55577767#msg55577767

[$crypto$]

It's what we call "hype," as when Elon Musk hyped bitcoin and Doge, and a lot of people jumped on the bandwagon. The majority of investors will conduct research into what they intend to invest in because they do not want to lose their money, thus this is the wisest course of action. There are many worthwhile investments available nowadays, but you should only do so if you can afford to lose your money.

Saving money is beneficial for the future, but it requires discipline. I am not good at saving and would like to learn because if I do save, I will be able to utilize it for something in the future.

We should not be influenced by someone who can change the market or who is said to be manipulated I think it can be a hype trap that they create and then throw away after their promise is spread.

The rule in investing is that it is true to save but we must be well disciplined and also regular financial management how to manage it well, there we can easily make the right investment to save for the future, no need to worry about the market if you already know for sure circumstances will definitely find their identity what to do at the core, don't do greed and good discipline.

[Ultegra134]

I was always saving any BTC I earned to a separate wallet, which was used for investing and occasional trading. Saving is what turned me a few hundred dollars, into a $3.000 investment. I sold my BTC a few months ago and then invested my money into yield mining and DeFi projects. I managed to turn my small savings wallet into a proper investment, which is still generating income.

Saving money is vital when it comes to investing.

[Fortify]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

This is an unfortunate fact that many people do not learn until their 20's, 30's or even 40's. Learning to live debt-free and saving even small amounts over time is an extremely liberating feeling. It can be incredibly depressing being in debt and living beyond your means, in many cases it is easy to spend money frivolously on absolutely unnecessary junk. Once you learn to save, you will want to put those savings to good use and learn about investing in companies. Albert Einstein, one of the most intelligent people to ever live, once said that "compounding is the 8th wonder of the world" and it has never been more true than when you own company shares that grow & reinvest on a regular basis.

[teosanru]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses.

[Hamphser]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses.

But how about if you do just started up?

If you dont have any source  or anything that you do earn then you would be definitely be considering on risking out your savings first and its up to someones choice

because when it comes to risk taking then this is mattering on someones decision so it would really be varying because once that investment is a hit then thats the

time you can make up more savings but of course that would really be having corresponding risk then you should really be aware on that.

[Ultegra134]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses.

I've also thought about this, but never dared to implement it. Likewise, I'm working an 8-hour job, and I'm currently able to live pretty comfortable, setting money aside each month. When I invested into DeFi/Yield mining, I thought that it would be a good idea to invest a couple of hundred dollars each month into other projects.

I've actually done it once, in order to boost my investment, but I never proceeded to do it again, rather than invest my salary, I decided that it's safer to reinvest any money I earn through my main investment, without involving any external funds.

[TheGreatPython]

Why not just invest altogether? I mean there are options whereyou can invest directly even with small amounts because investment is much better than saving because you don't get interest when just simply saving. Look at options out there, there's Index Funds or Cryptocurrencies that don't need a lot money to simply start.

You got it wrong, the idea is not to save and put aside and do nothing with it, the idea is that you can't invest without saving. So let's say you earn 1000 dollars a month, if you spend all 1000 then that means you have nothing to invest, you have zero dollars left, how can you invest? However if you save money and spend 900 dollars instead, that means you have 100 dollars left at the end of the month, that is called saving money, and then you can invest that 100 dollars.

Saving word doesn't always mean having money saved aside, it means spending less than usual to save some aside, instead of going out to eat making pasta at home, instead of seeing a movie at a cinema, just watch netflix, instead of going to starbucks every morning, just make your own coffee etc etc, those are "saving" as well in the words meaning and this is the saving we are talking about.

[btcltcdigger]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

This is correct. Many sources say exact same thing, but they also mention one fact, which you missed.
They all say you should start with this in your early 20's. That's the most fruitful time to do it, so you can enter your 40's with a nice passive income

[awik p]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

This is correct. Many sources say exact same thing, but they also mention one fact, which you missed.
They all say you should start with this in your early 20's. That's the most fruitful time to do it, so you can enter your 40's with a nice passive income

at the age of 20 years, humans do not have many necessities of life, so they are free to work as they think. that way they will have various experiences and overcome the problems they get, so that with increasing age their psychologically matures and finally they will have financial freedom at their relatively young age.

[Clavulanic]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I think there is no rule of investing with savings, maybe they both posses the same feather but still differ in purposes. we mostly save for the future most likely in terms for health. If I will invest then surely that's not from my savings as we know that investment always involve risk but every people have different perspective so it all up to on how we dealt with our investment.

[teosanru]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses.

But how about if you do just started up?

If you dont have any source  or anything that you do earn then you would be definitely be considering on risking out your savings first and its up to someones choice

because when it comes to risk taking then this is mattering on someones decision so it would really be varying because once that investment is a hit then thats the

time you can make up more savings but of course that would really be having corresponding risk then you should really be aware on that.

First of all, get an active income source, in the leading years of your life it's idiotic not to have an active income source, these people advertising that retire at 25-30 are nothing but just lazy. Create an active income career too. Work at least until 35 if not more than that. A human body is made to work, and it's better to being doing an economic activity than to do a non-economic activity.

Talking about risk, if your risk-taking ability is too low invest either outside crypto world or in very large-cap cryptocurrencies like the top-5 by market cap. Keep investing in form of monthly payments so you take advantage of averaging while bitcoin is in bear run.

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses.

I've also thought about this, but never dared to implement it. Likewise, I'm working an 8-hour job, and I'm currently able to live pretty comfortable, setting money aside each month. When I invested into DeFi/Yield mining, I thought that it would be a good idea to invest a couple of hundred dollars each month into other projects.

I've actually done it once, in order to boost my investment, but I never proceeded to do it again, rather than invest my salary, I decided that it's safer to reinvest any money I earn through my main investment, without involving any external funds.

I think your problem is diversification. Don't just invest in new project, create a mixed portfolio of cryptocurrencies, stocks even some bonds to hedge your portfolio, see the truth is even with cryptos taking over the stock market isn't going anywhere and is much less volatile than cryptos, so a certain set of investment should go there to make sure that you don't burn a lot of your money in new projects because those are really risky and you might never even get your investment back from them. In such projects, a person should not invest beyond 10% of his total assets. It's highly risky, you are taking a big risk for the return involved.

[verita1]

And to save money, first you need a job.

To have a job, first you need skills.

To have skills, you need education.

You have education, you need time (and money).

To have time (and money), you need to be young (and have rich parents).

I agree with you, I would just like to add something about how to get an education.
You don't necessarily need to have money to get an education. With the invention of the internet this obstacle has been broken if we think about the people who can access education without having money. Obviously, the path to obtaining a university degree is a challenge, perhaps people will not achieve it, but knowledge is possible.

Check out this twitter account from a guy from India who studied Blockchain and cryptocurrencies on Coursera and Udemy.
The boy is only 13 years old and already has an ongoing blockchain project.
At his young age he is already a blockchain Developer

https://twitter.com/robogajesh?s=09

[DatKing]

Firstly, you save a good amount of money. Then, you would consider investing some of it into a cryptocurrency or something different. It's really an important thing to be aware of. Because there have been many people who didn't care about saving much and invested all of their money into a cryptocurrency. This is just a deathwish for a person. It's always better and crucial for one to save a good amount of money not to stay in a bad position.

[Coroline]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I agree with you that investing use savings or cold money. In financial planning, we must be able to separate daily needs (living), future needs (saving), and entertainment (playing). There is also an emergency fund, which is funds that we deliberately reserve if there is a sudden need at any time. Both emergency funds and investments should use cold cash. It means separate from daily needs. In order for this investment money and emergency funds to be separated from daily needs, it is better if we put it in a different place from our bank account or ATM. For investment, we already know the purpose, for example for vacation or wedding expenses. Meanwhile, emergency funds are for sudden needs that we don't know about, such as if you get laid off or lose your laptop for work.

[Viscore]

Firstly, you save a good amount of money. Then, you would consider investing some of it into a cryptocurrency or something different. It's really an important thing to be aware of. Because there have been many people who didn't care about saving much and invested all of their money into a cryptocurrency. This is just a deathwish for a person. It's always better and crucial for one to save a good amount of money not to stay in a bad position.

You can invest from your savings but not totally the whole part of it as you are not sure yet if you will make profits or the vice versa. If you'll lose, you still have some left for your own necessities.

But if you start investing from a borrowed money, its quite a big decision you'll make. You'll end up wrongly if you lose plus you have nothing to pay for the interest too. So as much as possible, invest on the amount you can afford to lose. Losing is definitely a part of investing so there's no way we can avoid that particularly if we are still a newbie.

[lienfaye]

- Investing is sacrificing something today to get something tomorrow.

So true, we might be sacrificing today but it will all be worth it soon if we succeed with our investment regardless if its in crypto, real estate etc.

You can invest from your savings but not totally the whole part of it as you are not sure yet if you will make profits or the vice versa. If you'll lose, you still have some left for your own necessities.

Indeed, dont go all in because you'll never know what lies ahead. Its a must to still have savings in case there's an emergency. Just invest a part of your savings so you have something to count on in the future when its time to retire.

[kapalmabur]

Firstly, you save a good amount of money. Then, you would consider investing some of it into a cryptocurrency or something different. It's really an important thing to be aware of. Because there have been many people who didn't care about saving much and invested all of their money into a cryptocurrency. This is just a deathwish for a person. It's always better and crucial for one to save a good amount of money not to stay in a bad position.

You can invest from your savings but not totally the whole part of it as you are not sure yet if you will make profits or the vice versa. If you'll lose, you still have some left for your own necessities.

But if you start investing from a borrowed money, its quite a big decision you'll make. You'll end up wrongly if you lose plus you have nothing to pay for the interest too. So as much as possible, invest on the amount you can afford to lose. Losing is definitely a part of investing so there's no way we can avoid that particularly if we are still a newbie.

Yes, it's true that in any investment, I think there must be risks, so we need to continue to learn and minimize making wrong decisions.
Besides that, in investing, we are also easily tempted by the lure of instant profits, it's impossible

[Questat]

Firstly, you save a good amount of money. Then, you would consider investing some of it into a cryptocurrency or something different. It's really an important thing to be aware of. Because there have been many people who didn't care about saving much and invested all of their money into a cryptocurrency. This is just a deathwish for a person. It's always better and crucial for one to save a good amount of money not to stay in a bad position.

You can invest from your savings but not totally the whole part of it as you are not sure yet if you will make profits or the vice versa. If you'll lose, you still have some left for your own necessities.

But if you start investing from a borrowed money, its quite a big decision you'll make. You'll end up wrongly if you lose plus you have nothing to pay for the interest too. So as much as possible, invest on the amount you can afford to lose. Losing is definitely a part of investing so there's no way we can avoid that particularly if we are still a newbie.

Yes, it's true that in any investment, I think there must be risks, so we need to continue to learn and minimize making wrong decisions.
Besides that, in investing, we are also easily tempted by the lure of instant profits, it's impossible

It is necessary to know our limitations. We have to remember that investment will never be in profit right after we start, indeed, it takes time to see it. If we all spend our money just for the sake to make a huge return, I don't know what will happen to us when there is a problem occurs.

It needs for us to learn Fund Management, some people don't care about this but for me, it is very important to know this and to know how manage our funds wisely.

[Johnlomape]

Investing is not that easy to do but your advice is very good but what about a student, how can one save when sometimes the money one has might not be sufficient to spend especially buying textbooks and taking care of oneself. I really need to know cause saving could help getting into business after my graduation but it's very hard for me.

[Dread Pirate Roberts]

Investing is not that easy to do but your advice is very good but what about a student, how can one save when sometimes the money one has might not be sufficient to spend especially buying textbooks and taking care of oneself. I really need to know cause saving could help getting into business after my graduation but it's very hard for me.

Everyone has must have more money. instead of being used for things that are wasted, such as wanting a new phone. new gadgets . club . order unusual food. people can spend it for saving . thats how many successfull people do and advice too. saving much better than spending on wasted thing.

[Oasisman]

~snip~

I think there is no rule of investing with savings, maybe they both posses the same feather but still differ in purposes. we mostly save for the future most likely in terms for health. If I will invest then surely that's not from my savings as we know that investment always involve risk but every people have different perspective so it all up to on how we dealt with our investment.

Investment is basically saving your money but with interest. There's a risk involved because it also has risk reward.
But the "purpose" isn't the main concern here. You can either invest or literally save for a different future purposes, may it be health, business, and other financial plans that'll involved settlements.
There are actually investments with low-risk involved, though ROI's are a bit lower than those with high risks, but at least you're like actively saving your money as it grows over time.

[Rasa nanas]

This is correct. Many sources say exact same thing, but they also mention one fact, which you missed.
They all say you should start with this in your early 20's. That's the most fruitful time to do it, so you can enter your 40's with a nice passive income

at the age of 20 years, humans do not have many necessities of life, so they are free to work as they think. that way they will have various experiences and overcome the problems they get, so that with increasing age their psychologically matures and finally they will have financial freedom at their relatively young age.

because at that age humans want to feel freedom and want to do many memorable things in their lives. but at this age a person should have started to think about his future, start planning what to do after graduating from college and start looking for business opportunities. 20 years is a crucial age for a person because at that age he begins to form his identity.

[Strongkored]

Investing is not that easy to do but your advice is very good but what about a student, how can one save when sometimes the money one has might not be sufficient to spend especially buying textbooks and taking care of oneself. I really need to know cause saving could help getting into business after my graduation but it's very hard for me.

Indeed for a student starting an investment is not easy, especially if the student was born in a poor or developing country where the opportunity to earn an income is not as big as the opportunity in rich countries, you can start to build a mindset as described by the OP in first page that investment is sacrifice, and must start by saving whatever your income.
What also must be remembered when investing is that the main needs must have been met, and only use the allocated funds for something that is not too important.

[tyz]

at the age of 20 years, humans do not have many necessities of life, so they are free to work as they think. that way they will have various experiences and overcome the problems they get, so that with increasing age their psychologically matures and finally they will have financial freedom at their relatively young age.

That's actually true, but it's at this age stage that people spend the most money, relative to their incomes. In their 30s or early 40s, they realize that they have little in the way of savings or assets, and then they become jealous of others who have, those who saved money and invest it cleverly. Then they start to vote for socialist parties that make everything worse.

[oHnK]

Investing is not that easy to do but your advice is very good but what about a student, how can one save when sometimes the money one has might not be sufficient to spend especially buying textbooks and taking care of oneself. I really need to know cause saving could help getting into business after my graduation but it's very hard for me.

Indeed for a student starting an investment is not easy, especially if the student was born in a poor or developing country where the opportunity to earn an income is not as big as the opportunity in rich countries, you can start to build a mindset as described by the OP in first page that investment is sacrifice, and must start by saving whatever your income.
What also must be remembered when investing is that the main needs must have been met, and only use the allocated funds for something that is not too important.

Yup, thats really hard because I felt the feeling and pass the situation is just a part of lucky. In the develop country espesially for village area, a student has their own income is seldom to be found. Financial management and portofolio investment is just for them who have much money and good education experience. For parent who dont understand how important education is, then their children can't get information for investment and how to make their saving become passive income.

[TheGreatPython]

Indeed for a student starting an investment is not easy, especially if the student was born in a poor or developing country where the opportunity to earn an income is not as big as the opportunity in rich countries, you can start to build a mindset as described by the OP in first page that investment is sacrifice, and must start by saving whatever your income.
What also must be remembered when investing is that the main needs must have been met, and only use the allocated funds for something that is not too important.

Interestingly I believe on literally the opposite of both believes. When you are living in a smaller nation, it is easier to live with 50 bucks or 100 bucks as a student, depends on the personal situation of course, I have met with students while I was in school that had to work full time and go to school at the same time, they worked at nights, went to school in the mornings, and whenever they had any time left at home went to sleeping, they did literally nothing else just school and work and sleep for 4 years to finish school (usually they were the most successful kids at school as well).

However if you have parents taking care of you, you live with them, they give you food clothes and everything you need, and if you have a computer and an internet connection, then all you have to do is just learn some skills that you can earn money online and that's it.

[Wong Gendheng]

Firstly, you save a good amount of money. Then, you would consider investing some of it into a cryptocurrency or something different. It's really an important thing to be aware of. Because there have been many people who didn't care about saving much and invested all of their money into a cryptocurrency. This is just a deathwish for a person. It's always better and crucial for one to save a good amount of money not to stay in a bad position.

Saving is the most important thing, we must do it because we need cash at any time, with Covid conditions like now, choosing the most profitable type of investment is important, many people are stuck buying property and during the pandemic the value drops, crypto is the right choice because it has proven to be very profitable .

[Fredomago]

Firstly, you save a good amount of money. Then, you would consider investing some of it into a cryptocurrency or something different. It's really an important thing to be aware of. Because there have been many people who didn't care about saving much and invested all of their money into a cryptocurrency. This is just a deathwish for a person. It's always better and crucial for one to save a good amount of money not to stay in a bad position.

Saving is the most important thing, we must do it because we need cash at any time, with Covid conditions like now, choosing the most profitable type of investment is important, many people are stuck buying property and during the pandemic the value drops, crypto is the right choice because it has proven to be very profitable .

With proper knowledge within this venue then you said it right, crypto is more profitable if you know what's you're doing inside this business, having good amount of reserve money and split it into the right investment.

Make sure to assess and do your good research before to jump into any investment that you pick, savings or the money that already excess to your budget is the best capital in my opinion, though you should always go and use the amount that you can really  let go or to forget in a longer time frame, with that, you are not going to make bad calls while you are inside and already have your assets being selected for your investment.

[Ultegra134]

~snip~

I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses.

~snip~

~snip~

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses.

I've also thought about this, but never dared to implement it. Likewise, I'm working an 8-hour job, and I'm currently able to live pretty comfortable, setting money aside each month. When I invested into DeFi/Yield mining, I thought that it would be a good idea to invest a couple of hundred dollars each month into other projects.

I've actually done it once, in order to boost my investment, but I never proceeded to do it again, rather than invest my salary, I decided that it's safer to reinvest any money I earn through my main investment, without involving any external funds.

I think your problem is diversification. Don't just invest in new project, create a mixed portfolio of cryptocurrencies, stocks even some bonds to hedge your portfolio, see the truth is even with cryptos taking over the stock market isn't going anywhere and is much less volatile than cryptos, so a certain set of investment should go there to make sure that you don't burn a lot of your money in new projects because those are really risky and you might never even get your investment back from them. In such projects, a person should not invest beyond 10% of his total assets. It's highly risky, you are taking a big risk for the return involved.

I've also found it wrong that when investing into DeFi projects, I placed all my money in one specific vault. Looking back now, it was risky and inconsiderate, since algorithmic stablecoins weren't 100% safe, of course. After their crash, I was extremely cautious and would only invest in lower risk vaults, (with a lower reward of course too).

On the other hand, DeFi and crypto is my only investing experience, I never had anything to do with bonds or stocks in the past.

[Aliceooo78]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

If I have a lot of savings, I will keep the basic living expenses, and use the rest for investment. Of course, it is a field that I am familiar with. My mentality is still very peaceful and not very accumulative. I will not just because someone said a project. The rate of return is extremely high. Even if someone makes a lot of money, I will not be jealous, let alone sleepless. For example, I hold Bitcoin, no matter what kind of underestimation I am now, I will still hold it.

[taufik123]

If I have a lot of savings, I will keep the basic living expenses, and use the rest for investment. Of course, it is a field that I am familiar with. My mentality is still very peaceful and not very accumulative. I will not just because someone said a project. The rate of return is extremely high. Even if someone makes a lot of money, I will not be jealous, let alone sleepless. For example, I hold Bitcoin, no matter what kind of underestimation I am now, I will still hold it.

It's just a fantasy that hasn't come true. It is very easy to think of such things, but not if the circumstances as you imagine are really real. Ralita will not be what we imagined. Investing will also not be as easy as turning the palm of the hand. It takes commitment and trust that the investment will be successful.
Don't just fantasize, do it now with your current situation, don't wait for you to have a lot of savings. Big results start from something small.

[teosanru]

~snip~

I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses.

~snip~

~snip~

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses.

I've also thought about this, but never dared to implement it. Likewise, I'm working an 8-hour job, and I'm currently able to live pretty comfortable, setting money aside each month. When I invested into DeFi/Yield mining, I thought that it would be a good idea to invest a couple of hundred dollars each month into other projects.

I've actually done it once, in order to boost my investment, but I never proceeded to do it again, rather than invest my salary, I decided that it's safer to reinvest any money I earn through my main investment, without involving any external funds.

I think your problem is diversification. Don't just invest in new project, create a mixed portfolio of cryptocurrencies, stocks even some bonds to hedge your portfolio, see the truth is even with cryptos taking over the stock market isn't going anywhere and is much less volatile than cryptos, so a certain set of investment should go there to make sure that you don't burn a lot of your money in new projects because those are really risky and you might never even get your investment back from them. In such projects, a person should not invest beyond 10% of his total assets. It's highly risky, you are taking a big risk for the return involved.

I've also found it wrong that when investing into DeFi projects, I placed all my money in one specific vault. Looking back now, it was risky and inconsiderate, since algorithmic stablecoins weren't 100% safe, of course. After their crash, I was extremely cautious and would only invest in lower risk vaults, (with a lower reward of course too).

On the other hand, DeFi and crypto is my only investing experience, I never had anything to do with bonds or stocks in the past.

This is also a big mistake which many users make, never store all your assets on one crypto exchange. These exchanges are shady and can turn into a scam any day, especially until there is any regulation on them one should keep all their money in one exchange. Keeping them in unpopular wallets is even more risky.

[Refrumatrix]

Investing is common sense, make sure you already have enough money in the bank and take some percentage of that money to invest in crypto, make sure that amount is exactly how much you are willing to lose, if bad thing happens you won't be that hurt

[Charot12345]

It is all about mindset, I am in a third-world country too and my salary is just enough to handle my responsibilities but I am still able to save some amount every end of the month even if it is really small. If your mindset is for the long term that you know that you can't just work forever, you will start to save for something to invest in the future. It's difficult to teach financial literacy in a third-world country because most often people here are not yet open-minded for other opportunities. They are still stuck with the tradition of you study, graduate, then work until your age of retirement.

I totally agree with you. It is all about mindset. A positive mindset. If you set your mind on saving, it can motivate you and can make you think of many ways to save then invest when the opportunity comes.
Most people tend to procrastinate when it comes to saving and always think they can start saving tomorrow then tomorrow comes then they will delay it again for tomorrow until they get old and end up with no savings.
Consistency is also important, even if you save 5% of your income but it was continuous and consistent you can see that you have many savings. Then after that, you can start to invest to make your money grow more.

[Vaskiy]

Saving is the primary form of money making. Everyone who have got a savings were successful in life. Maybe there's little exception. More the savings lead to massive investment. The success of savings happen when the same is being invested. Most of the time common people doesn't prefer investing, because of the risk associated with it. If we take a survey it'll be clear most of the users who took the risk of investing with the savings have turned themselves rich and moved to next level of living standard.

[19Nov16]

Investing is common sense, make sure you already have enough money in the bank and take some percentage of that money to invest in crypto, make sure that amount is exactly how much you are willing to lose, if bad thing happens you won't be that hurt

Saving money in banks is not profitable, we only get 10 percent bank interest per year, saving banks are only for daily needs, to make our money increase then the best solution is investment, for me crypto is the first choice.

[bryant.coleman]

Saving money in banks is not profitable, we only get 10 percent bank interest per year, saving banks are only for daily needs, to make our money increase then the best solution is investment, for me crypto is the first choice.

10% interest per year from bank deposit? That is more than three times the rate we have in our country. Where are you residing? IMO, bank deposits are never profitable, because they will always be lower than the inflation rate. On top of that, you need to pay taxes on this interest income, depending on which income tax slab you are falling in. This is the reason why I keep bank deposits to less than 5% of my overall portfolio. In percentage terms, my bullion holding is larger when compared to the bank deposits.

[Kittygalore]

Saving is the primary form of money making. Everyone who have got a savings were successful in life. Maybe there's little exception. More the savings lead to massive investment. The success of savings happen when the same is being invested. Most of the time common people doesn't prefer investing, because of the risk associated with it. If we take a survey it'll be clear most of the users who took the risk of investing with the savings have turned themselves rich and moved to next level of living standard.

Saving without the saving making interests, is only causing the economy to artificially inflate because most of the money are stagnating in the piggy banks, investing is a much better way to make money, there's a point that you can save an amount of money because too much is harmful for you and to the economy.

[Snappycoco]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

This is the most basic step before investing. What happens after you got money? You invest. But before that, you have to know the risks and possible consequences of your actions. Probably the best advice before investing is that, you allocate an amount that you live without and invest it. Each month you should allocate a part of your hard earned income and invest what you can afford to lose in your savings.

[ShowOff]

but if you want a bigger return, we can choose bitcoin

I probably wouldn't say something like this to someone interested in investing. Bitcoin will never guarantee anyone to get a big return within a certain period of time and if there is then I believe it is one of ponzi schemes. So far the risk and possible return on bitcoin investment that investor will get are comparable if they invest in the long term. But will it be forever? Of course not, they would still lose money due to price fluctuation. Keep in mind, bitcoin should also not be described as a get-rich-quick scheme for anyone. For obvious reasons, I don't agree with your opinion.

[Ausgewielt]

I think I have different opinion. In my opinion, all your statement is right but for me there are differences between young and old people. For old people it is better to invest with their money but for young people I think it will be good if they invest for their brain by keep learning. I agree with your main point that saving is important. For young people it is better for them to use their money to buy books or pay tuition or course. If they don't have money they still can go to the library. That's my opinion.

[TheUltraElite]

For old people it is better to invest with their money

By the time one is old, their cognition has reduced and they are no longer having the risk taking mindset of the younger age. In other words, they would be too late. No offense intended to any aged person reading this though. You can start investing anytime, but keeping it all for the old age is not the correct decision.

but for young people I think it will be good if they invest for their brain by keep learning. I agree with your main point that saving is important. For young people it is better for them to use their money to buy books or pay tuition or course.

You are assuming that the person already has money with them. Keeping aside the fact that in third world countries parents pay for their child's education, I dont think that statement is applicable everywhere. Still getting a proper education is also an investment, investment in one's education and future. So that has a long term value. Of course when they start earning they can start saving and investing like the OP says.

If they don't have money they still can go to the library. That's my opinion.

A library is a last resort, you cannot depend on a third part system for your own education. What if someone lives in a locality that does not have a library nearby or if that library is closed down due to an ongoing  pandemic?

A library can help and it seems very nice to hear those news about some poor kid studying from library and reaching somewhere big, but dont get too rosy, because this is a classic example of a surviorship bias.

[worle1bm]

Yes saving is necessary if you want to have some investment plans for your future and these days investment has become say very much important to secure our future and this pandemic has made us realise how much saving is necessary in our life's.Many who lost jobs and were not having extra source of income had consumed their past saving.But keeping them banks in any kind of fixed deposits will also not give you any good benefits so it's better to take some risk and invest in any profit yeilding investment like stocks,crypto of your choice but always have knowledge of what you are doing and wait for some time.Always invest that much you have saved but don't go on for loans and personal debts for this circle as you might fall into vicious circle of debt trap from which you might not get out.Be safe and have plans for your future.

[molsewid]

I think I have different opinion. In my opinion, all your statement is right but for me there are differences between young and old people. For old people it is better to invest with their money but for young people I think it will be good if they invest for their brain by keep learning. I agree with your main point that saving is important. For young people it is better for them to use their money to buy books or pay tuition or course. If they don't have money they still can go to the library. That's my opinion.

Giving yourself an abundant knowledge is a very powerful investment than the real investment itself. I guess investment for yourself like nourishing your mental capacity about investment has no age limit. You could feed your mind about investment in a young age which is better but you could also feed your mind even if you're in the adulthood stage is totally fine too. Having a knowledge enough while you were young will give you an advantage to pursue a great investment in yourself like learning from your experience or failures.

[Kong Hey Pakboy]

If you only save though, it wouldn't help because if you are a conventional type of saving then you aren't protected against inflation, on the other hand, I think that saving money on banks and slowly investing money at the same time is a much better idea.

[Fredomago]

I think I have different opinion. In my opinion, all your statement is right but for me there are differences between young and old people. For old people it is better to invest with their money but for young people I think it will be good if they invest for their brain by keep learning. I agree with your main point that saving is important. For young people it is better for them to use their money to buy books or pay tuition or course. If they don't have money they still can go to the library. That's my opinion.

Giving yourself an abundant knowledge is a very powerful investment than the real investment itself. I guess investment for yourself like nourishing your mental capacity about investment has no age limit. You could feed your mind about investment in a young age which is better but you could also feed your mind even if you're in the adulthood stage is totally fine too. Having a knowledge enough while you were young will give you an advantage to pursue a great investment in yourself like learning from your experience or failures.

yeah right, there's no age limits for those who really wanted or eager to learn, investing with your time and dedication to make sure that you'll be able to equipt yourself whenever path you take.

Investing for your skills and knowledge are solid foundations, not just your money that you'll going to use but also the understanding that you need to enhance from time to time,.

The more you understand the venue of investment the better you assess and anticipate the market.

[tygeade]

I understand that saving is not an easy job for many people but we have to just find a way to do it, its just impossible to become an investor without saving some money aside. I know people who barely made enough just for food that ended up saving money aside, all because they basically forced themselves, that is right they ate ramen for whole days even weeks in order to save aside. Not that they became wealthy or anything, but they managed to put aside some money and that is the important thing.

One thing very important in crypto world is that if you save money in the fiat world and put it aside it is not going to grow way too much unless you get lucky, but in crypto world if you save money and put it on crypto then you are going to make more money than any other fiat platform can offer you. You may not turn from poor to wealthy but you can turn from poor to not poor in crypto and that's all that matters, do not aim to be wealthy, aim to be not poor and you will reach your goal.

[Sternbinder]

This idea is quite obvious.
Surely, if you want to invest, you'll have to stay away from lots of expenses in order to make your extra money. So, the first thing you need to do is to generate positive cashflow in order to have this 'extra money'. It means that the income should exceed expenditures. If you do that, you'll have to save some money.
More than that, investing means that you don't spend your money today in order to get more money tomorrow. This is all about saving and this will make bright future.
All in all, investing is all about managing the money and thinking about future, so, if you want to invest and make your future consistent, start saving the money as early as you can.

[Bitbtc8]

Invest only what you can afford to lose, you don't have to save a thousand dollars to start investing, worry first about your survival and use what can't hurt you if something unexpected happens for investment purposes only, if you are making 500$ per week put 40-50$ aside for investment

[Lubang Bawah]

If you only save though, it wouldn't help because if you are a conventional type of saving then you aren't protected against inflation, on the other hand, I think that saving money on banks and slowly investing money at the same time is a much better idea.

When investing, of course we need our financial security, it's too risky to invest in bitcoin when our finances are only enough for a month's needs, if we calculate the need is enough for a year and we invest in bitcoin then it will make us not panic when the price drops.

[KennyR]

If you only save though, it wouldn't help because if you are a conventional type of saving then you aren't protected against inflation, on the other hand, I think that saving money on banks and slowly investing money at the same time is a much better idea.

When investing, of course we need our financial security, it's too risky to invest in bitcoin when our finances are only enough for a month's needs, if we calculate the need is enough for a year and we invest in bitcoin then it will make us not panic when the price drops.

Investing the excess amount is a good choice and the risk free way of investing. With bitcoin and other cryptocurrencies we don't know what will be the direction of the market. There is assured growth, but when we're in need the market might be bearish. To this we should have the ability to hold when the market is at the bottom or the capital to buy more.

This is how investments turn to be risky as well as leads to massive losses. Having a clear plan to allocate fund for our living and investing the rest will make it a healthy way of growing the funds.

[Hippocrypto]

If you only save though, it wouldn't help because if you are a conventional type of saving then you aren't protected against inflation, on the other hand, I think that saving money on banks and slowly investing money at the same time is a much better idea.

When investing, of course we need our financial security, it's too risky to invest in bitcoin when our finances are only enough for a month's needs, if we calculate the need is enough for a year and we invest in bitcoin then it will make us not panic when the price drops.

With bitcoin, your security is secured already because for me it doesn't so many times every since 2018 until present everything is worth it. Though price seems to be disappointing at first when it crashed badly, but now it showed more potential because of the recovery is fast. Many experts misjudged btc to fall back again to $20k but they failed.

[bosede1]

I know that you invest only what you have, you can't invest another person's money because it is not in your possession. I won't say the first rule of investing is saving for example me collecting my income at the end of the month and using it to buy some worth of bitcoin will you say I save that before hand

[herurist]

Saving is the most important thing, we must do it because we need cash at any time, with Covid conditions like now, choosing the most profitable type of investment is important, many people are stuck buying property and during the pandemic the value drops, crypto is the right choice because it has proven to be very profitable .

Yes, it's basically like that but actually both saving and investing there must be some things that should not be done because saving is not just a matter of saving money but you need to think about the risks that might occur, besides that we also have to have a plan by budgeting nominal for saving. By budgeting in advance, you will be more aware that you have to save. Since you already have the money budgeted for saving, you won't forget to do it. but on the other hand we should not feel burdened with it, even if for example we cannot in large quantities, we can still in smaller quantities so that we do not feel burdened by it.
Besides that, your goal for saving must be clear first because basically this is very important. because if we don't set a saving goal for what then we will be careless and not consistent in saving and this is not a good thing to do

[Princejebs]

Investing is common sense, make sure you already have enough money in the bank and take some percentage of that money to invest in crypto, make sure that amount is exactly how much you are willing to lose, if bad thing happens you won't be that hurt

The amount of corruption in banking sector can't be overlook and with such extortion, I have concluded not to live any dim on my account.
Here is why I don't like banks:
1.The interest rate is very funny, a scent that may not be able to cover the charges and maintenance fee been tax monthly. I don't know what exactly they maintain when I'm the one who do the holding of my card.
2. They bill you some tax for exceeding a limit. So many charges that are more than yearly interest rate.
There is no point in using banks in my country except when I need urgent cash.
Balance: 0.00

[Brus123]

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

I was lucky to start investing when I lived with my parents, so they provided for me. Although I didn’t have constant incomes, at least I didn’t have to pay for bills, so it was the best time to invest even small savings. And personally I find the strategy of investing 10% quite reasonable. As you don’t feel a lack of money and you invest something in any case.

[Cherylstar86]

Invest only what you can afford to lose, you don't have to save a thousand dollars to start investing, worry first about your survival and use what can't hurt you if something unexpected happens for investment purposes only, if you are making 500$ per week put 40-50$ aside for investment

Indeed. When you invest your money, you need to be careful and manage it properly to not lose a huge of it. Saving money in the economy with a high inflation and earning low interest rate lower than the inflation rate is the same as losing money. When investing, we need financial security, it's too risky to invest if our finances are only enough for a month's need. If people invest their money which is just enough for a year, totally they will panic when price starts to drop. Researching, waiting, have enough knowledge and avoid taking risk if your not sure with it is like you try to survive and that's what you need to do first.

[Ridi]

Investing is buying assets with the expectation that your investment will make money for you.In Bitcoin start with a small amount only when you can afford to lose.Investments usually are selected to achieve long-term goals.

[suryana]

I like your statement reminding us to invest. This is the foundation that I must always remember for myself especially . Leaving a portion of work income to be able to invest for the future and look forward to retirement. Maybe at this time I still keep it in crypto investments and some in the bank which later the bank wants to invest in property which I think is good enough for future savings as well.

[dimonstration]

I like your statement reminding us to invest. This is the foundation that I must always remember for myself especially . Leaving a portion of work income to be able to invest for the future and look forward to retirement. Maybe at this time I still keep it in crypto investments and some in the bank which later the bank wants to invest in property which I think is good enough for future savings as well.

Saving and having emergency finds should be a priority before doing investing. We must not risk our living especially if were new to it. I started crypto having insurance as well budgeting my money and what only left will be invested until gradually I keep adding and adding on what to invest but never forgetting to pay first for my needs. We can't guarantee always the winning and profit in crypto so we must learn to discipline ourselves not to put all in our money no matter how confident we are that we are great at trading.

[husencoe]

In my life, saving is prioritized over medium and long-term investments, because if we do not have adequate savings, then investment is not suitable to be the main choice in our lives, because reserve funds or savings must be available at all times, especially when we experience difficulties that come suddenly, quite a lot of beginners lose money when they put all their money into investments without having enough savings when their investment plummets in a moment

[celot]

I'm very interested in the topic you created to remind us to continue investing in the future. What is clear for myself before I invest I settle all my bills. After all is done I will invest 20% every result of my hard work.

[Botnake]

I'm very interested in the topic you created to remind us to continue investing in the future. What is clear for myself before I invest I settle all my bills. After all is done I will invest 20% every result of my hard work.

It's good to start investing if you have settled already your loans and no pending bills aside from monthly mortgages, so that you will have more focus and dedication to reach your investment's goals. The very basic is have your own savings and only a portion of it should be allocated for your investment. The rest will be for your emergency purposes. Borrowing funds for you capital should always be your last option i guess but still not a good idea.

Investing has always its positive outcome not unless you start doing it in a wrong way.  Invest only on the amount you can afford to lose so you will never keep regretting the moment your investment suddenly fail.

[monineklutak]

I'm very interested in the topic you created to remind us to continue investing in the future. What is clear for myself before I invest I settle all my bills. After all is done I will invest 20% every result of my hard work.

Yes, everyone has management in spending money, therefore when investing we must consider it,
if we think long term I think investment is quite important for the future

[Princejebs]

I'm very interested in the topic you created to remind us to continue investing in the future. What is clear for myself before I invest I settle all my bills. After all is done I will invest 20% every result of my hard work.

I have understood my self in this game for long. Your last phrase is very crucial in the sense that you can't ignore it in life as an investor, that's why the rich keeps getting richer.
When you have lots of bills yo sort out, there isn't a way you will enjoy investing because been broke is another problem entirely and I will choose to settle my bill first before making any decisions about investments.
I once tried to hold a coin around 2019 while I was having financial issues, the worst part was that the coin dump and at the end I couldn't pay bills and investment was nill. 

[Kusman]

Yeah, the saving part is the most important thing before even thinking about making an investment into a cryptocurrency. I think that one shouldn't invest their some amount of salary right after they get it. Rather than that, saving money for some time is always better. After that, you can invest maybe not all but some amount of your savings into a cryptocurrency for a long term. It is really like sacrificing it for some time (maybe a year or more than that etc.).

[Oilacris]

I'm very interested in the topic you created to remind us to continue investing in the future. What is clear for myself before I invest I settle all my bills. After all is done I will invest 20% every result of my hard work.

Re-rolling some part of your profits and some of it would really be put up in savings and this is the thing what ive been doing when i do step my foot into this market.

Learn to save because it isnt really just for emergency purposes in real life but also could act as a back up fund incase you do see some opportunities for you to invest on or trying to make

out some recovery when you are in a hard situation.There are lots of things on where savings could help a certain individual not only limited to investment but also in real life situations.

[hichamito37]

This doesn't apply to other people in different countries though especially for people like me who is from a third-world country which was taught no concept about financial health, everything I knew about finances are all self-taught and discussed with my peers. I think saving is difficult for me because the money from work is just enough to survive alone but not with a family, investing is much more difficult because no one taught us to invest in my country.

You can learn to invest with a small amount of savings each month , Just know all your monthly living expenses and try to save soon you will have an investment for yourself, learn how Saving is the only way that will help you to have future investments and savings for yourself , Learn how to be a smart saver and spend properly.

Saving is the hardest part of our life, especially when we just only get enough for our necessities. I couldn't say that they don't have a better future but something they miss the best opportunity of their life.

Maybe we are so thankful that we have been given a chance to invest in crypto as not all have the capabilities to do this. If I would like to save, I certainly have to invest this rather than keeping on my wallet or deposited it in the bank. It doesn't matter if I don't have real money in my pocket but al least I have some investment that could save me and give me profit in the future.

Because for me, Invest now, save later.

"Invest now, save later."
Yes you are a rich person and have an opinion on your investment but i think you are saying invest now if you are a rich person or have a lot of money in life you have have a long-term savings account. time , In general all you have to do is save first , Unless you are a rich person you already have money and just need to invest today, who is average or poor? . They must learn to save before they can invest.

[Rajamuda]

This can be one of the motivations to manage our financial side to be better and smarter in managing finances to get a bright future. Saving is of course still one of the most important things before investing, to meet the necessities of life that cannot be denied, it is different from investment, of course, we must focus on long-term targets without cutting it in a middle way due to necessities life that must be met.

[Zanab247]

I agree with you, after saying you need a facilitator who will help you to make the savings to bring more development to your business. Time is also rule of investment.If you want to go far in investment, you need to listen to your time to achieve your goals.
Those people that are doing well in this season, are those people that understand how to carry out personal research before investing in a particular project.

[lienfaye]

I'm very interested in the topic you created to remind us to continue investing in the future. What is clear for myself before I invest I settle all my bills. After all is done I will invest 20% every result of my hard work.

Its right to pay the bills first before anything else because thats our responsibility. I do the same way too, I manage my finances well and allocate a portion for savings and investment. The money I spent for investment is something that I can live without if it didnt succeed (but of course im not hoping for that scenario to happen).

There's no need to force ourselves to invest if we really cant afford it, save first then invest. If you already earn with your investment thats the time to take profit to have additional savings. Its a must to have plan to execute a good result.

[ILuckyGuyI]

I agree that the first rule is saving money before making an investment into a cryptocurrency for example. There are people who can't control themselves and invest an important portion of their salary into a cryptocurrency also. This is so wrong. You should invest only the amount that you can afford if you lose it. It is better to save money first and then think about such investment.

[jakdanyel]

One should save some amount of money first before even thinking about an investment. I don't think that it is healthy to invest some amount of your salary directly into a coin unless you are earning a lot of money. Firstly, you should save money and make a plan about how much of your saving you are thinking of investing into. And I don't recommend you to invest all of it. It is very risky and not logical as you will need fiat money to buy your needs.

[tyz]

I'm very interested in the topic you created to remind us to continue investing in the future. What is clear for myself before I invest I settle all my bills. After all is done I will invest 20% every result of my hard work.

The savings rate of an individual for investment depends on the fluctuations of income and expenditure of the people, so people make less decisions by rushing on the facilities available in a particular sector. If one can make a habit of saving one fourth of one's income 20-25 per cent of one's income regularly then one does not have to fall into poverty in later life.

Well, I wouldn't say that and it also depends on where you live. In the U.S., for example, certain strokes of fate can quickly cost hundreds of thousands of dollars. And then even a small saved-up fortune can quickly be gone. For example, if you fall ill with a serious illness that requires very expensive medication and your health insurance only covers part of it. This is not as rare as you might think. Or you are involved in a traffic accident in which the court assigns you a (partial) guilt, then you can quickly have to pay millions in damages.

[abhiseshakana]

One should save some amount of money first before even thinking about an investment. I don't think that it is healthy to invest some amount of your salary directly into a coin unless you are earning a lot of money. Firstly, you should save money and make a plan about how much of your saving you are thinking of investing into. And I don't recommend you to invest all of it. It is very risky and not logical as you will need fiat money to buy your needs.

We can divide our salary into three parts. For daily life, for sharing and for investment (working capital). Sometimes people saving their money not for investment but for consumption. One of the steps before investing is to have a quadrant which divided what we need and what we want. By suppressing consumptive and wasteful nature, there is an additional budget for investment. With frugality we can get extra savings, with extra savings we avoid going into debt, which means ready money for investing in productive sector.

[Spack17]

This is my way of making investments into cryptocurrencies in fact. I don't prefer making an investment with a certain amount of my salary right away. I choose to save an amount of money that I set as a goal before deciding to make an investment. Because it is very important to me that I should invest an amount which I'm able to afford even if I lose it all. I don't want to regret that I made an investment.

[SquallLeonhart]

Its right to pay the bills first before anything else because thats our responsibility. I do the same way too, I manage my finances well and allocate a portion for savings and investment. The money I spent for investment is something that I can live without if it didnt succeed (but of course im not hoping for that scenario to happen).

There's no need to force ourselves to invest if we really cant afford it, save first then invest. If you already earn with your investment thats the time to take profit to have additional savings. Its a must to have plan to execute a good result.

Honestly what is the other option? Invest a lot and not pay the bills? Eventually you will not have water running in your house, your phone will not work, your internet will go out, you will basically be out without any possibility of redeeming anything and making any money. So, paying the bills of course makes sense.

What I do is wait until the last day of the month and whatever I have left goes to investment, this means I do not really force myself too much but at the same time I am making a bit of return as well, not a bad situation at all and I am sure that I could save more if I forced myself but I am doing fine for myself and I do not want to really want the stress of putting more and more these days, I just want to be happy, I can pay for being stress free right now let alone put money aside.

[Natalim]

This is my way of making investments into cryptocurrencies in fact. I don't prefer making an investment with a certain amount of my salary right away. I choose to save an amount of money that I set as a goal before deciding to make an investment. Because it is very important to me that I should invest an amount which I'm able to afford even if I lose it all. I don't want to regret that I made an investment.

Probably that's what most of us really want. I don't see myself investing with an amount that is intended for my bills because it will only make my life more complicated. I just want a safe sailing investment wherein when things don't go as planned, then it will never cause me any regret because i only invest on my spare money.

And as much as possible, once we make profits from our investment, then have some of your profits put in your savings and the rest roll it for your another investment. Its more convenient to invest when there are no interruptions and just focus on it.

[Silberman]

Yeah, the saving part is the most important thing before even thinking about making an investment into a cryptocurrency. I think that one shouldn't invest their some amount of salary right after they get it. Rather than that, saving money for some time is always better. After that, you can invest maybe not all but some amount of your savings into a cryptocurrency for a long term. It is really like sacrificing it for some time (maybe a year or more than that etc.).

Just make sure to remember that investing can not only be done with your money but it can also be done with your time, too many people today choose to do stuff that does not bring them any benefit to them and are basically wasting their time by doing so, if you can invest the majority of your time in activities that develop you as an individual then sooner or later you will have success in other aspects of your life, and not only in the financial aspect but in many other aspects that are as important.

[ninis45]

investing and saving is a plan for future finances to become more established and easier....
but basically all of this must be done with established management because most people are reluctant to save and prefer to invest so that the money can always work for themselves.

[KennyR]

investing and saving is a plan for future finances to become more established and easier....
but basically all of this must be done with established management because most people are reluctant to save and prefer to invest so that the money can always work for themselves.

Savings assure the benefits, but the growth is limited. It is always good to save and then invest a part of the savings. This will reduce the risk and if there is good growth out of the investment, just keep on increasing the investment value. This will give more benefits than just saving. Most of the middle class turn to be upper middle class only through the process of saving and the investing it.

[Ahli38]

my concept is to set aside my money that is not needed to be used in the near future by way of savings in the form of investment. So my savings are like installments of buying a potential coin and forgetting about it. which means I've been saving and investing at the same time isn't it. and of course the coins you buy are fundamentally strong.
So all this time I almost equated savings with investment. maybe i'm wrong. but I'm more comfortable like this. I don't like saving my money in the bank. because every month it's even reduced by cutting admin fees atm and others.

[Sir Legend]

Agree with the concept that with investment money will work for us, if we only rely on active income then we can be sure we will be poor, this is because inflation is always increasing, and there are many unexpected things in life, for example getting sick that makes us unable can get active income.

[Zanab247]

investing and saving is a plan for future finances to become more established and easier....
but basically all of this must be done with established management because most people are reluctant to save and prefer to invest so that the money can always work for themselves.

Saving and investing has helped many people to embraced their opportunity from their investment few months ago. Those that saved a huge amount of capital last year November, really used this opportunity to buy more of bitcoin to prepare for a greater future. Now that the price of bitcoin is preparing to hit $50k which will be favourable to those that  saved money to buy bitcoin when the price is low.

[tabas]

Agree with the concept that with investment money will work for us, if we only rely on active income then we can be sure we will be poor, this is because inflation is always increasing, and there are many unexpected things in life, for example getting sick that makes us unable can get active income.

We won't be poor if there's an active income but we're going to struggle meeting ends if we only have a few source of income when some unexpected events come into our lives.
Like those huge bills that has to be paid and you only have your income through employment. But, if you have investments then that will make your obligations easier.

[Freeesta]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

Savings are needed every day. We can't get good capital if we don't learn to save. As a result of the savings, funds are collected that we can invest. If we save now, then we can make investments that will allow us to have a great future. Money in a bank account can be profitable, but it is more about saving. This is a very interesting activity, in this case, even saving money can become an investment.

[qwertyup23]

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

Just to add on the list you provided, invest the money that you are willing to lose. If you see investing as a "chore" or as something that is obligatory, then chances are that you would most likely pull out your investments. Another thing, have a definite time schedule for your investments or at least have a goal on when you should withdraw and cash them out.

Given that the nature of cryptocurrencies are inflationary, its price may skyrocket in the future. Given that this may be the case, it is important to know when you would sell your cryptocurrencies. A lot of people have been HODLing either for short or long-term gains and this would definitely help them in diversifying and allocating their expenses more.

[DanWalker]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

Savings are needed every day. We can't get good capital if we don't learn to save. As a result of the savings, funds are collected that we can invest. If we save now, then we can make investments that will allow us to have a great future. Money in a bank account can be profitable, but it is more about saving. This is a very interesting activity, in this case, even saving money can become an investment.

Investment is always risky and we will not be able to predict everything, so saving is extremely necessary. Savings will be the necessary supplement for us to increase our investment ability, we can deduct part of our savings to invest. This will be safe for our finances. For me, savings is also an investment, although not as profitable as an investment, it will be safe and can be used in urgent cases.

[Xampeuu]

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

Just to add on the list you provided, invest the money that you are willing to lose. If you see investing as a "chore" or as something that is obligatory, then chances are that you would most likely pull out your investments. Another thing, have a definite time schedule for your investments or at least have a goal on when you should withdraw and cash them out.

Given that the nature of cryptocurrencies are inflationary, its price may skyrocket in the future. Given that this may be the case, it is important to know when you would sell your cryptocurrencies. A lot of people have been HODLing either for short or long-term gains and this would definitely help them in diversifying and allocating their expenses more.

therefore if we set aside income for investing in cryptocurrencies that have high fluctuations, we must be able to choose safe coins, so as to reduce the risks that will occur. By setting aside income every month, it will certainly be easier to hold until you get the results we want. many people invest but in their hearts it seems difficult to see fluctuations until panic sells occur, so we can take this as a lesson

[tygeade]

investing and saving is a plan for future finances to become more established and easier....
but basically all of this must be done with established management because most people are reluctant to save and prefer to invest so that the money can always work for themselves.

Saving and investing has helped many people to embraced their opportunity from their investment few months ago. Those that saved a huge amount of capital last year November, really used this opportunity to buy more of bitcoin to prepare for a greater future. Now that the price of bitcoin is preparing to hit $50k which will be favourable to those that  saved money to buy bitcoin when the price is low.

I guarantee you that there are many people who think that the price will crash and not go up. Those same people are focusing on making profit by shorting bitcoin instead of getting ready for the upcoming increase.

It is so clear to me that the price will go up, why? Because whenever it goes down, it gets higher, and when it gets higher, it goes down. What was the last thing we did? Go down from 48k levels to under 40k levels correct? That means we are going to end up with a lot of profit and that is going to be the case here as well. I personally believe that we are going to end up with a higher price because we went down and next turn is going up.

[Vaculin]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

Even if you don't have the intention to invest, i think saving is still very necessary because that will back up you when you ran out of funds in the future. But it will be more advantageous if you have something to do with your savings, specifically iinvesting it, as it tends to double your money once it starts to profits. However, investing will not work if you started out from taking loans. Remember, there is no certainty in the outcome of your investment, whether you make profit or not, you will still be paying your monthly amortization plus interest so that it won't cause you troubles in the future.

[riso2015]

Yeah, the saving part is the most important thing before even thinking about making an investment into a cryptocurrency. I think that one shouldn't invest their some amount of salary right after they get it. Rather than that, saving money for some time is always better. After that, you can invest maybe not all but some amount of your savings into a cryptocurrency for a long term. It is really like sacrificing it for some time (maybe a year or more than that etc.).

I totally agree with your opinion, the real purpose of investment is saving, so if we save, we definitely shouldn't save all our income in bitcoin, but we also have to invest in other places like gold, and leave a little money we have for daily needs. Today, my goal in investing in gold is when I need an urgent need, I can immediately resell it for my needs, while bitcoin has an uncertain price.

[carlfebz2]

Yeah, the saving part is the most important thing before even thinking about making an investment into a cryptocurrency. I think that one shouldn't invest their some amount of salary right after they get it. Rather than that, saving money for some time is always better. After that, you can invest maybe not all but some amount of your savings into a cryptocurrency for a long term. It is really like sacrificing it for some time (maybe a year or more than that etc.).

I totally agree with your opinion, the real purpose of investment is saving, so if we save, we definitely shouldn't save all our income in bitcoin, but we also have to invest in other places like gold, and leave a little money we have for daily needs. Today, my goal in investing in gold is when I need an urgent need, I can immediately resell it for my needs, while bitcoin has an uncertain price.

Would really be just common sense that we should have some savings and at the same time we do have other investments on where we could rely on in terms of other sources of income which would help us to

survive this daily living.Gold is good but people tend to switch into other place like crypto because of the possible profits that you could make but we know that diversification would be always be the best.

We could save more that came from our investment and we could invest came from our savings and vice versa.

[laredo7mm]

survive this daily living.Gold is good but people tend to switch into other place like crypto because of the possible profits that you could make but we know that diversification would be always be the best.

There is a certain limitation with gold. It has a physical form and you can not move a large quantity of it so easily. Also in an emergency crisis, you will have a challenging situation to keep your gold safe. Gold is good for long-term investors because it is an inflation-free commodity but because of some of its limitations, I think crypto has the upper hand.

But what I think is safe is diversification. The more place you will invest in the more your risk will be reduced. It is called risk distribution.

[Markinzo]

One could only want to start having the mindset of saving when his or her income someworth precedes his responsibilities. How do you save when your income is not even able to meet up even your basic neceasities.

Even if there's the Will to save for investment, as far as your income is nothing to write home about when measured or equated with your responsibilities then savings becomes a problem and an extra burden should one still insist on savings even under such conditions.

Not to mention, not all investments works out very well, be it short or long term investment.

 So while saving (that's if you must) for the purpose of investing, one then should also be cautious of the investment plan, as to what and where to invest.

[Fatunad]

survive this daily living.Gold is good but people tend to switch into other place like crypto because of the possible profits that you could make but we know that diversification would be always be the best.

There is a certain limitation with gold. It has a physical form and you can not move a large quantity of it so easily. Also in an emergency crisis, you will have a challenging situation to keep your gold safe. Gold is good for long-term investors because it is an inflation-free commodity but because of some of its limitations, I think crypto has the upper hand.

But what I think is safe is diversification. The more place you will invest in the more your risk will be reduced. It is called risk distribution.

When it comes on storing it out then it cant be possible that you do go along with lots of amounts of it which would surely be raising up lots of questions and also it would really be putting your security into
some problem but its true that risk distribution could happen via diversification which simply means that its up to you if you would really be making out some considerations on making such step

or would really be sticking out on what the trend or others interest is focused on specially on crypto investments but honestly we do have indeed lots of choices.

[_BlackStar]

My first lesson in investing is to do as long as you can, not as long as you want. Whatever our financial ability to invest should not be a problem because we basically know that we have an interest in doing so.

So far I can save 40%-50% of signature campaign revenue to invest, sure it can help me to expect better results in the future. But my principle is to do as long as you can, not because you want to. So the percentage of the amount of money we can invest from the source of income may vary over time depending on the needs.

[Finestream]

"you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

Borrowing for investing is usually a bad decision. One must invest only money he affords to lose. The only "good" way to borrow for investing is if you have plenty of wealth, but it's already locked (properties, companies) and borrowing will provide liquidity.

Also for normal people, I'd suggest to invest only part of the savings, not all. Some should stay for unexpected problems.

However, these are (small) details. The initial rule stands.

But this is not case now as everyone wants to take advantage and always want to be rich instantly so they invest from borrowing, or if they have savings, they invest all in. The result is, they lose everything they have and are even obligated to pay their loans so they end up living miserable. But fot those who chose to be more smart and practical, they are living their lives into profits knowing they have less to lose, more to profit.

[Hamphser]

"you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

Borrowing for investing is usually a bad decision. One must invest only money he affords to lose. The only "good" way to borrow for investing is if you have plenty of wealth, but it's already locked (properties, companies) and borrowing will provide liquidity.

Also for normal people, I'd suggest to invest only part of the savings, not all. Some should stay for unexpected problems.

However, these are (small) details. The initial rule stands.

But this is not case now as everyone wants to take advantage and always want to be rich instantly so they invest from borrowing, or if they have savings, they invest all in. The result is, they lose everything they have and are even obligated to pay their loans so they end up living miserable. But fot those who chose to be more smart and practical, they are living their lives into profits knowing they have less to lose, more to profit.

Not really bad to take some loan specially if we do see some opportunity and also we arent all the times having the cash to invest on which means that you would really be opting out to take some loan

because of having lack of cash but its not really that bad a decision as long you do make yourself that responsible on repaying those so that you wont really be ending up miserable in terms of
financial losses or being wrekt.
Be practical and be mindful about your investment and with the risk involved so that you would not really able to put yourself in hard situation.

[bittraffic]

Rich take loans to  invest and this is because DEBTs are tax free.

Anyway, I'm not his fan but I happen to listen to him talking about Warren's history because he is a very patient man when it comes to investing.
You must have heard of the Buffet story where he invested his $10,000 and then continue to work after it which he earns $less than $1000 I believe and he was just waiting for his money to double and triple. That $10K, is accumulated by saving which is now part of his his entire wealth.

[lienfaye]

Not really bad to take some loan specially if we do see some opportunity and also we arent all the times having the cash to invest on which means that you would really be opting out to take some loan

because of having lack of cash but its not really that bad a decision as long you do make yourself that responsible on repaying those so that you wont really be ending up miserable in terms of
financial losses or being wrekt.
Be practical and be mindful about your investment and with the risk involved so that you would not really able to put yourself in hard situation.

Its not bad if you're confident that you can repay your loan regardless of the outcome of your investment. Because every investment has risk and there's no assurance that we'll gain from it hence I think its best to have less expectation and dont rely on it. Thus if ever you will need to borrow money in order to invest, having a real job is an advantage, this is to ensure you can repay your borrowed money.

Nevertheless its still not advisable to take loan. Use your own money to invest, less worries incase something went wrong.

[Tony116]

Not really bad to take some loan specially if we do see some opportunity and also we arent all the times having the cash to invest on which means that you would really be opting out to take some loan

because of having lack of cash but its not really that bad a decision as long you do make yourself that responsible on repaying those so that you wont really be ending up miserable in terms of
financial losses or being wrekt.
Be practical and be mindful about your investment and with the risk involved so that you would not really able to put yourself in hard situation.

Its not bad if you're confident that you can repay your loan regardless of the outcome of your investment. Because every investment has risk and there's no assurance that we'll gain from it hence I think its best to have less expectation and dont rely on it. Thus if ever you will need to borrow money in order to invest, having a real job is an advantage, this is to ensure you can repay your borrowed money.

Nevertheless its still not advisable to take loan. Use your own money to invest, less worries incase something went wrong.

It is still best not to borrow. The market is still and other opportunities will come, so there is no need to rush to borrow to invest. Investing is risky so always plan for the long term rather than speculate.

I think we should have a savings first rather than an investment first, when we use our idle money to invest, our psyche will be more comfortable and will make the right decisions than when we are pressured to make the wrong decisions.

[NeuroticFish]

Borrowing for investing is usually a bad decision. One must invest only money he affords to lose. The only "good" way to borrow for investing is if you have plenty of wealth, but it's already locked (properties, companies) and borrowing will provide liquidity.

Also for normal people, I'd suggest to invest only part of the savings, not all. Some should stay for unexpected problems.

However, these are (small) details. The initial rule stands.

But this is not case now as everyone wants to take advantage and always want to be rich instantly so they invest from borrowing, or if they have savings, they invest all in. The result is, they lose everything they have and are even obligated to pay their loans so they end up living miserable. But fot those who chose to be more smart and practical, they are living their lives into profits knowing they have less to lose, more to profit.

There's no difference between "now" and "then". People always want to get rich quick. And if they don't follow some common sense/basic rules, they can too easy end up broke.
So while your conclusion is correct, the first sentence is odd..

Not really bad to take some loan specially if we do see some opportunity and also we arent all the times having the cash to invest on which means that you would really be opting out to take some loan
because of having lack of cash but its not really that bad a decision

No, just no. The fact you lack cash means that if you get a loan to invest and the investment goes bad (i.e. bitcoin price falls greatly for longer term), you will have no means to pay back, making your life (even more) miserable. If you go on this path you will also have no means to wait until the investment price gets back on profit (which, in case of Bitcoin did always happen until now, sooner or later).
PS. You should improve your writing style, it's hart to read/understand.

[Mauser]

Of course you need to save first before you can start investing. Having no money makes if almost impossible to generate any wealth out of it. There are two options starting with no funds, first is going for high risk investment and hoping to make a decent profit. Unfortunately many high risk projects will just make you lose your money. The second option is to borrow money to invest it. That's not a great strategy either, because when you lose some of it you still have to repay the loan. Best is to save first and invest later. What I find very hilarious is that many of these self help gurus with their financial independence books only become rich by selling the books. And for the people it would probably better to save the 20$ instead of buying another book. In today's world we need capital to make a profit.

[asus09]

Of course you need to save first before you can start investing. Having no money makes if almost impossible to generate any wealth out of it. There are two options starting with no funds, first is going for high risk investment and hoping to make a decent profit. Unfortunately many high risk projects will just make you lose your money. The second option is to borrow money to invest it. That's not a great strategy either, because when you lose some of it you still have to repay the loan. Best is to save first and invest later. What I find very hilarious is that many of these self help gurus with their financial independence books only become rich by selling the books. And for the people it would probably better to save the 20$ instead of buying another book. In today's world we need capital to make a profit.

I really agree with your opinion, friend, if we don't have money, it's impossible for us to invest, the name of which is investment, there must be a certain risk, in fact, whatever we do, there will definitely be risks, let alone to invest in planting corn too. of course there are risks, but for now I am still loyal to investing in bitcoin.

[uchegod-21]

You did well in this thread.  "The first rule of investment is saving"

I made the mistake two years ago and I used all my savings for investment, the investment went wrong and I returned to square zero.
I cannot make such mistakes again. I must first save and see that I have huge savings and then I can decide to use a little percentage of my savings for investment. And then, I cannot invest in something I know nothing about. That is my greatest rule of investment.

[Marvell1]

You did well in this thread.  "The first rule of investment is saving"

I made the mistake two years ago and I used all my savings for investment, the investment went wrong and I returned to square zero.
I cannot make such mistakes again. I must first save and see that I have huge savings and then I can decide to use a little percentage of my savings for investment. And then, I cannot invest in something I know nothing about. That is my greatest rule of investment.

Investment is not always profitable so in addition to needing backup savings, we should only invest with idle money cannot borrow to invest. The savings must always be larger than the investment so that we can easily respond in time when there are wrong investments. Saving is not only good for investment but also good for everyday things, in life sometimes we need to deal with unexpected work, so saving is essential.

[skarais]

You did well in this thread.  "The first rule of investment is saving"

I made the mistake two years ago and I used all my savings for investment, the investment went wrong and I returned to square zero.
I cannot make such mistakes again. I must first save and see that I have huge savings and then I can decide to use a little percentage of my savings for investment. And then, I cannot invest in something I know nothing about. That is my greatest rule of investment.

I don't think you made a mistake in investing your money, but you just made the wrong choice of assets to invest in. Those are two different things in my opinion.

For most of the time, I think investment strategies should also be useful to implement such as maintaining DCA as well as asset diversification. Of course, this provides an opportunity for investors to profit while considering post-purchase price corrections so that they can make a second purchase when the price is lower than the first purchase. In addition, of course you must have sufficient knowledge to choose potential assets for your investment, especially if you want to do it in the long term.

[ningrum]

You did well in this thread.  "The first rule of investment is saving"

I made the mistake two years ago and I used all my savings for investment, the investment went wrong and I returned to square zero.
I cannot make such mistakes again. I must first save and see that I have huge savings and then I can decide to use a little percentage of my savings for investment. And then, I cannot invest in something I know nothing about. That is my greatest rule of investment.

Investment is not always profitable so in addition to needing backup savings, we should only invest with idle money cannot borrow to invest. The savings must always be larger than the investment so that we can easily respond in time when there are wrong investments. Saving is not only good for investment but also good for everyday things, in life sometimes we need to deal with unexpected work, so saving is essential.

Besides not always being profitable, investment is also not an easy thing, so you need preparation before starting.
it's better to use cold money to invest and of course it's to minimize risk,
The most important thing is to understand first about anything that is related to investment

[SirLancelot]

One could only want to start having the mindset of saving when his or her income someworth precedes his responsibilities. How do you save when your income is not even able to meet up even your basic neceasities.

Even if there's the Will to save for investment, as far as your income is nothing to write home about when measured or equated with your responsibilities then savings becomes a problem and an extra burden should one still insist on savings even under such conditions.

Not to mention, not all investments works out very well, be it short or long term investment.

 So while saving (that's if you must) for the purpose of investing, one then should also be cautious of the investment plan, as to what and where to invest.

There are two options in that case, which I have not really successfully done in my life, have been trying it for the past 6 years and it has been decent but not really what I calculated. First step is to lower your costs to the bare minimum, this means if you have to live in a tiny studio room then you do, if you need to eat ramen or potato for the whole month then you do, if you smoke then quit, if you drink then you stop.

Basically live a life of absolute colourlessness and hate your life for 6 months to a year if you have to, do not even live, just "survive" and you will be cutting the costs a lot. Secondly you try to find extra work, you longer do anything fun anyway, you just go to work, come home, eat raiment and sleep, so why not take up another job instead? That would gain you some more profit. I have failed this of course, saying is easy, but doing it is very very very hard.

[Agbe]

Yes, we all know that investing is saving, but where to get the capital to invest is the problem. Investment as a business is a risk. When you borrow money from someone and you use it for investment. Do not forget that you might lose two ways. The capital or the profit. Now you borrow and use it for investment. But at the end you did not make profit that is the first lose. And then you used the capital to invest and the you lose the capital in the process of the investment, that is the second lose so when investing you have to calculate the both to understand what you want to do before entering into it.

As it is said, for one to save you must invest. Yes "investment is a way of saving". Even human life is an investment. Because for one to save his or her life, he or she has to invest to save. There are many ways one can invest. Examples: Education, business and job.
Education: one can invest through education by learning what you don't know. Both in YouTube and articles. In this forum most people were ignorant of bitcoin and Crypto Currencies but as they came here, they have learned a lot of things about Crypto Currencies and bitcoin. The best example is me.  And that is you are Investing on knowledge. How can one trade without knowing the starting point and the ending point.  Then the second one is Business which is the OP topic of concern. For you to save, you have to invest. Now you can buy BTC and sell instant to make profit. Or you can buy and keep for future sale when the price has gone up. But as it is said, there is risk for the both.

[stomachgrowls]

You did well in this thread.  "The first rule of investment is saving"

I made the mistake two years ago and I used all my savings for investment, the investment went wrong and I returned to square zero.
I cannot make such mistakes again. I must first save and see that I have huge savings and then I can decide to use a little percentage of my savings for investment. And then, I cannot invest in something I know nothing about. That is my greatest rule of investment.

Investment is not always profitable so in addition to needing backup savings, we should only invest with idle money cannot borrow to invest. The savings must always be larger than the investment so that we can easily respond in time when there are wrong investments. Saving is not only good for investment but also good for everyday things, in life sometimes we need to deal with unexpected work, so saving is essential.

Savings does have different roles;

1. Used in investment
2. Back funds for emergencies
3. Planning for future asset purchases

We should really be obliging ourselves on having savings so that you would really be able
to have some chances on buying back or involvement if you do see opportunities.

[Sir Legend]

If we invest with a large nominal of course the most important thing is saving, but if we only use a little money then the most important thing is the hope for big profits, crypto is a type of investment that is high risk, price increases and decreases can occur tens of percent per day, the most important thing before Getting into crypto is understanding the risks.

[CaptainCrapper]

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

Yes always need to invest larger money where can we get no tension on my hidden this money need which is unused cause money any time can destroy so we need big unused money.

[Dunamisx]

You did well in this thread.  "The first rule of investment is saving"

I made the mistake two years ago and I used all my savings for investment, the investment went wrong and I returned to square zero.
I cannot make such mistakes again. I must first save and see that I have huge savings and then I can decide to use a little percentage of my savings for investment. And then, I cannot invest in something I know nothing about. That is my greatest rule of investment.

It is also better to invest but not with all the savings, but sometimes we tend to forget he risk involved in some of the investments we get into, i also understand that the motive behind every investment is to make profit but greediness to make much higher profits than expected makes some fall in the hands of scammers, one has to be careful and observant on what they invest on, some Investment don't even really worth it, just a show case to waste of time and resources. It's always good to learn from people's experience and not from our mistakes.

[Pujangga]

The most important thing of investment is security, and in my opinion security is that we can control completely without dependence, crypto systems are designed for security and of course full control.

[Kadal Ijo]

Many people think too long about security so they continue to delay investment, the thing we have to understand is that all types of investment have risks, the higher the risk the higher the chance of profit, and for security, of course the best thing is we have full control and can sell at any time Without fear of no buyer.

[lixer]

Besides not always being profitable, investment is also not an easy thing, so you need preparation before starting.
it's better to use cold money to invest and of course it's to minimize risk,
The most important thing is to understand first about anything that is related to investment

Depends on the investment, and the amount of money you have. When you have cash, it is better to invest into real estate, because it pays itself off and you would be getting richer with someone else’s money.

Getting a mortgage at a good interest rate, buying a house, remodelling it, then renting it out means that by the time your 20 year loan ends, your house would worth a lot more than the loan itself, meaning you took out money that isn't yours, and used it for something and paid it back with money left in your pocket. However, in crypto there isn't an option like that since we do not know if bitcoin will be 10k or 100k tomorrow, hence the risk, we know houses will be valued higher, that is not guaranteed in bitcoins situation.

[savetheFORUM]

Rich take loans to  invest and this is because DEBTs are tax free.

Anyway, I'm not his fan but I happen to listen to him talking about Warren's history because he is a very patient man when it comes to investing.
You must have heard of the Buffet story where he invested his $10,000 and then continue to work after it which he earns $less than $1000 I believe and he was just waiting for his money to double and triple. That $10K, is accumulated by saving which is now part of his his entire wealth.

At first I won't believe it but it really is tax free. That's what it says after I search it. It's a nice hack then that rich peeps are doing. Now I don't wonder why many rich people have that mindset. They take loans even if they are already rich but not only rich people are taking loans, poor people do it too although most poor people that take loans are a failure and will end up became more poor because they have a debt to pay.

I think before we start something risky like loaning a money, better if we learn first how to handle/manage money. The story you said above are inspiring and we can obtain a few lessons to it like being patient and value jobs because it's more stable.

[xSkylarx]

If we invest with a large nominal of course the most important thing is saving, but if we only use a little money then the most important thing is the hope for big profits, crypto is a type of investment that is high risk, price increases and decreases can occur tens of percent per day, the most important thing before Getting into crypto is understanding the risks.

It doesn't matter how large or small your investment is as long as you're satisfied with your return on your investment. It's true that not everyone has the means to invest large amounts of money; therefore, small profits are a blessing because they can be accumulated over time and result in substantial earnings. If you have the ability to invest large amounts of money, your return will be significantly higher if you do not lose your money.

[Dunamisx]

The most important thing of investment is security, and in my opinion security is that we can control completely without dependence, crypto systems are designed for security and of course full control.

And it it quite evident that this security and control can't be achieved with our government handling our privacy because they lay embargo indiscriminately on our finances at their will while immunity covers up for their own illegal financial coverings, we can't as well trust them because of the transaction fees and charges on cross boarder transactions, as you have said, the best way to handle security and privacy is when it is being handled by individuals capacity, i understand that any thing that has to do with third party is not privacy at all.

[Freeesta]

We must increase the volume of investments, for example, every month. It can be passive income, but it must be done regularly, In this case, the investment will increase our profit. I want to insure my money, but it will require additional cost. Many factors influence our investments. Inflation has increased recently. But we hope that the situation will stabilize soon. I want to believe it.

[Kadal Ijo]

Saving is the most important thing in investment, if there is no saving then this is like gambling even though the investment provides a large profit, as investors we must be smart in choosing investment so that saving for the short or long term.

[endut15]

this is very precise and makes sense. Invest instead of saving in preparing for the future. We cannot deny that the money we save in the bank or at home to prepare for the future cannot at all move to benefit us, even when inflation occurs, our money is no longer as valuable as it used to be. Investing has two advantages for me, namely the first can avoid inflation and the second money can work for us.

[NewRanger]

If we invest with a large nominal of course the most important thing is saving, but if we only use a little money then the most important thing is the hope for big profits, crypto is a type of investment that is high risk, price increases and decreases can occur tens of percent per day, the most important thing before Getting into crypto is understanding the risks.

huge balance also suitable for crypto investment.just take stable coins staking in reputable exchanges such as binance. if compared with deposit return in conventional bank, staking  give us bigger return. with low and moderate risk  we should try it with huge number, dont worry about exchanges security, as long as we activate 2FA our account will save.

[The Sceptical Chymist]

Basically live a life of absolute colourlessness and hate your life for 6 months to a year if you have to, do not even live, just "survive" and you will be cutting the costs a lot. Secondly you try to find extra work, you longer do anything fun anyway, you just go to work, come home, eat raiment and sleep, so why not take up another job instead?

There's some guy on the radio I always hear talking about just what you mentioned, and he advises younger people to work as much as possible for at least a year and cut out everything that's not an absolute necessity, and to save every penny.  And I swear I wish I'd worked harder when I was in my late teens and twenties instead of being the stereotypical slacker that I was.  I also wish I'd started investing in the stock market much earlier than I did--and it's not like I didn't know about it or how to get started.

I might have posted earlier in this thread, but saving money is one thing, but investing is another thing entirely.  Investing is planning for the distant future, whereas saving might be for a car, a house, whatever. 

I'd also point out that it's a good idea to have some free cash sitting in a brokerage at a time like this when sock valuations are extremely high.  When there's a crash, there's a buying opportunity that many people miss, either because they don't have enough money put aside to jump in or they just don't know there's a bargain to be had.  The same goes for the crypto market as well.

[Cling18]

Saving is the most important thing in investment, if there is no saving then this is like gambling even though the investment provides a large profit, as investors we must be smart in choosing investment so that saving for the short or long term.

Some people choose to loan so they would have funds for investment which I think is too risky when it comes to crypto investment. I believe that the wisest thing to do is to save so there would be enough funds that we could allocate for investment. Crypto is volatile so there's no guarantee of sure profit all the time so saving would be wiser than borrowing.

[Lanatsa]

Saving is the most important thing in investment, if there is no saving then this is like gambling even though the investment provides a large profit, as investors we must be smart in choosing investment so that saving for the short or long term.

Some people choose to loan so they would have funds for investment which I think is too risky when it comes to crypto investment. I believe that the wisest thing to do is to save so there would be enough funds that we could allocate for investment. Crypto is volatile so there's no guarantee of sure profit all the time so saving would be wiser than borrowing.

Easy to say but would really be that hard when you are in a situation on  which your income or earnings  are just enough for your everyday needs for you to survive which you wont really be having the chance for you to

save up thats why people do really end up on having or taking some loan just for them to jump into something or investment that they do saw as an opportunity to make profits or money.
Although not all these kind of decisions end up on positive since we know that risks on investment doesnt really end up well always.

[Ryu_Ar1]

Some people choose to loan so they would have funds for investment which I think is too risky when it comes to crypto investment. I believe that the wisest thing to do is to save so there would be enough funds that we could allocate for investment. Crypto is volatile so there's no guarantee of sure profit all the time so saving would be wiser than borrowing.

It seems that when they say this they have been influenced by Saylor who actually said that by borrowing money and then investing in bitcoin
but as you said this is still very risky it will be safer if you use your own money for this.
The logic is quite simple because there are indeed many people here who say that investing must be with money that is at least not too used, in the sense that we already have provisions for living and the rest will not be used for some time.
and we really don't need to do anything extreme to invest like that

[TimeTeller]

Some people choose to loan so they would have funds for investment which I think is too risky when it comes to crypto investment. I believe that the wisest thing to do is to save so there would be enough funds that we could allocate for investment. Crypto is volatile so there's no guarantee of sure profit all the time so saving would be wiser than borrowing.

It seems that when they say this they have been influenced by Saylor who actually said that by borrowing money and then investing in bitcoin
but as you said this is still very risky it will be safer if you use your own money for this.
The logic is quite simple because there are indeed many people here who say that investing must be with money that is at least not too used, in the sense that we already have provisions for living and the rest will not be used for some time.
and we really don't need to do anything extreme to invest like that

On my part, as much as possible, better use your own money for investments especially on high-risk investments.
Some people can make borrowed funds turn around but not all have the capability to generate profits.
If you want less trouble, better be contented on what you have and not aim for big if you can't afford yet.
Because if you are truly confident with your skills, you can already have profits on whatever you have.

[Synchronice]

In theory people are so amazing here, I am about to think whether it's wealthmentalk or bitcointalk.
The first rule of investing is finding opportunities! If you don't have goals, dreams, wishes and don't use opportunities like computers, the web, cryptocurrencies, then you fail!
The second rule is networking! Networking means a lot in life. You can be Johnny Depp but without good connections, you may end up in the street along with drug addicts.
The third rule is to work in a company/area and position, that develops you and doesn't use you like a robot. If you passed rule two, then you can move on to the third rule without a question.
The forth rule? You know!

When it comes to investing, I don't really understand why everyone talks only about stocks or some forms of assets. What about you? Maybe you have great genetics in something amazing? Maybe you are passionate with something? What about bodybuilding? There is one Canadian guy called Chris Bumstead (Definitely check him) who invested in himself and now has a great outcome.

What if you can't sing well but deep in your heart are addicted to music and can write great songs with great lyrics? The studio will fix the vocal issues and when it comes to live performances, people still support the singer whether he or she sings well or not. There are a lot of cases of this and I believe you may think about some of your favorite singers

[Falconer]

I'd also point out that it's a good idea to have some free cash sitting in a brokerage at a time like this when sock valuations are extremely high.  When there's a crash, there's a buying opportunity that many people miss, either because they don't have enough money put aside to jump in or they just don't know there's a bargain to be had.  The same goes for the crypto market as well.

I agree with your opinion here especially about how one can take advantage of an unexpected situation in the market (price correction or dump). In principle, having savings in fiat form is not an investment but is a starting point for having a certain amount of money that can be used to invest at any time. It's true having it on one of the brokers or trading platforms allows us to buy something at a time when people miss it, which is great but when it's only held for the long term then we really shouldn't trust any amount of capital in a broker or exchange especially when it's not being used.

Ideally, both cryptocurrencies and stocks are actually the same in generating profits, but cryptocurrencies have a fairly high risk of volatility compared to stocks even though we really know that the results we will get in the long run are worth the risk. But the point is not which one can make us a lot of profit, but we must really be aware that only by investing will we succeed in making money work for the owner.

[Maidak]

Saving is the most important thing in investment, if there is no saving then this is like gambling even though the investment provides a large profit, as investors we must be smart in choosing investment so that saving for the short or long term.

Some people choose to loan so they would have funds for investment which I think is too risky when it comes to crypto investment. I believe that the wisest thing to do is to save so there would be enough funds that we could allocate for investment. Crypto is volatile so there's no guarantee of sure profit all the time so saving would be wiser than borrowing.

The first condition to invest in is to save money. Why do we invest money?

Of course to get double the value of that money. But there are a lot of risks here. Because the stock market/crypto market goes up and down always. No one has control over it.

In this case, you should not invest all of your savings that if you lose, you fall into big trouble. In case there is a bad situation you have to have money to beat it.

It is important to keep in mind that savings and investment are two very different things. In the case of savings, the money set aside can be used at risk.

But once that money is invested, it will not be possible to bring that immediately. So you should be aware of all the risks and then save money and invest. In bearish market target several points, and place orders equally with several installments. You can take a loan but you should have to know well what you are going to do.

[CryptoHeadlineNews]

You actually just made a vital point here, and I strongly agree but please permission to chip in, most people have this mindset that it's only when you have enough and you are earning a huge capital that you can only invest, which is totally wrong because investing first starts with the mindset that you want to sacrifice a certain amount of money each month to raise an "X" capital within a period of "X" number of days, months or year. So you don't need to be a millionaire to invest, because even with that $100, $50, or $30 you are earning monthly, you can still invest.
But one thing about investing is that its never always comfortable but you just have to adapt to it for you to achieve your desired goal, because is very tempting knowing you have money but just have to forgo certain things because you have a plan for a better tomorrow because this is one point where the majority loose track it

[kamilah147]

Yes, this is a very good concept for future planning. Taking savings to invest is the only way to make money work for us. There are some people take out loans to invest, this is a wrong concept. When the market has not been able to provide us with profits, it will be very difficult for us to pay our monthly loan bills. Investment rules are concepts that we create ourselves so that our financial management becomes regular. Make investment a priority when all daily and monthly bills are sufficient for us to pay. Don't take risks, because the market can't promise a profit.

[Freeesta]

I think there is another important factor. This is a person's loan. If we have one or more loans, it will be difficult to save. Most of the money will be spent every month in vain. As long as we are in debt, all our funds will go to waste. I believe that in order to start saving your money, you need to get rid of debt and then you can start saving money.

[777Jolami]

Indeed, I think before embarking on investment, plan to spend reasonably, save and do not waste on unnecessary things to have an investment surplus.  After that, we want to invest profitably, it takes a long time, so practice patience and wait.

[kryptocanon]

I agree with you and I think while investing, one should always put this at the back of the mind to not invest more than they can actually afford to avoid being panic aftermath of putting the funds into it.

[Hamphser]

I agree with you and I think while investing, one should always put this at the back of the mind to not invest more than they can actually afford to avoid being panic aftermath of putting the funds into it.

Dont use on funds which you cant afford to lose indeed considering that crypto investment is always been that risky and it isnt something that you could  just go all in and wont mind about the risk involved.
Dont make use of the funds which are intended for your daily living, its not bad to have investment intents or plans since you wont really be progressive if you  dont do something but always
consider out about the danger and possible losses that might encounter which would really be that pretty normal when you do invest.Accept the risk and plan it well
so that you wont be ending up miserable.

[horrifiedx1]

I think there is another important factor. This is a person's loan. If we have one or more loans, it will be difficult to save. Most of the money will be spent every month in vain. As long as we are in debt, all our funds will go to waste. I believe that in order to start saving your money, you need to get rid of debt and then you can start saving money.

Indeed, if there is no debt, one can freely save because there are no other burdens. but people who have debt can also save, when there is leftover money that can be used to save. On the other hand, with the right way of saving, namely investing, even if we save a little money, it can grow rapidly if we are good at choosing investments.

[romero121]

Savings

• The level of risk is very low
• Savings results in lower return
• Savings can be done through bank products such as savings accounts, money markets, certificates of deposit.
• Returns are low, and the same might gets eaten by the inflation.
• Saving is straightforward and easy to do.

Investment

• The level of risk is high
• Investment results in much higher return
• Investment can be done through brokerage arms for support, further stocks, ETFs, bonds and mutual funds, fall under investments
• Returns are high, and it requires more learning to be the master than depending on brokerage service providers.
• With investment there is lack of transparency.

[riso2015]

I agree with you and I think while investing, one should always put this at the back of the mind to not invest more than they can actually afford to avoid being panic aftermath of putting the funds into it.

We should save first before we enter the world of investment, because investing takes a very long time, sometimes we also have to wait years, so we must prepare ourselves to manage our finances, we must not be careless we must be able to manage our finances so that we don't get caught up in financial problems.

[Zanab247]

I think there is another important factor. This is a person's loan. If we have one or more loans, it will be difficult to save. Most of the money will be spent every month in vain. As long as we are in debt, all our funds will go to waste. I believe that in order to start saving your money, you need to get rid of debt and then you can start saving money.

Yes, that factor has helped many people to save a huge amount of money from their investment some years ago. Never you spend all your profits for other things because it will not help you to grow well than to push you into debt in the community which is not advisable as a traders who want to become successful in future. This is the time to save money to prepare for a brighter future which is about to happen in the community any moment from now.

[Paul Pogba]

Saving is a very important thing in investing, we don't need a big profit opportunity but there is no saving, and I think crypto investment is a very safe thing because we can fully control it without depending on anyone.

[Tahsin Kabir Kollol]

In most cases, the first condition of investment is savings. Saving should be the principal thing to do prior to putting resources into any venture vehicle. You should have sufficient cash put away in the event of crisis prior to jumping and gambling into any venture stages. The secret stash is an unquestionable necessity prior to investigating the expansion of speculation reserves. Since, supposing that at any point you'll focus on your venture without reinforcement reserve funds, you'll wind up having nothing when your speculation comes up short. So it is truly much better to have investment funds first, then, at that point, subsequent to satisfying your investment funds store, proceed to put resources into your confided in the stage.

[Ahli38]

Basically live a life of absolute colourlessness and hate your life for 6 months to a year if you have to, do not even live, just "survive" and you will be cutting the costs a lot. Secondly you try to find extra work, you longer do anything fun anyway, you just go to work, come home, eat raiment and sleep, so why not take up another job instead?

There's some guy on the radio I always hear talking about just what you mentioned, and he advises younger people to work as much as possible for at least a year and cut out everything that's not an absolute necessity, and to save every penny.  And I swear I wish I'd worked harder when I was in my late teens and twenties instead of being the stereotypical slacker that I was.  I also wish I'd started investing in the stock market much earlier than I did--and it's not like I didn't know about it or how to get started.

I might have posted earlier in this thread, but saving money is one thing, but investing is another thing entirely.  Investing is planning for the distant future, whereas saving might be for a car, a house, whatever. 

I'd also point out that it's a good idea to have some free cash sitting in a brokerage at a time like this when sock valuations are extremely high.  When there's a crash, there's a buying opportunity that many people miss, either because they don't have enough money put aside to jump in or they just don't know there's a bargain to be had.  The same goes for the crypto market as well.

Your words are very valuable. So far I have always equated savings and investment. After reading this I know where I went wrong. I only think of investing as a future plan but not too far away. just to buy a vehicle, house and others.
but maybe from now on I will invest for a more distant future like my children's future and for myself in old age.

[kesmex]

Basically live a life of absolute colourlessness and hate your life for 6 months to a year if you have to, do not even live, just "survive" and you will be cutting the costs a lot. Secondly you try to find extra work, you longer do anything fun anyway, you just go to work, come home, eat raiment and sleep, so why not take up another job instead?

There's some guy on the radio I always hear talking about just what you mentioned, and he advises younger people to work as much as possible for at least a year and cut out everything that's not an absolute necessity, and to save every penny.  And I swear I wish I'd worked harder when I was in my late teens and twenties instead of being the stereotypical slacker that I was.  I also wish I'd started investing in the stock market much earlier than I did--and it's not like I didn't know about it or how to get started.

I might have posted earlier in this thread, but saving money is one thing, but investing is another thing entirely.  Investing is planning for the distant future, whereas saving might be for a car, a house, whatever. 

I'd also point out that it's a good idea to have some free cash sitting in a brokerage at a time like this when sock valuations are extremely high.  When there's a crash, there's a buying opportunity that many people miss, either because they don't have enough money put aside to jump in or they just don't know there's a bargain to be had.  The same goes for the crypto market as well.

Your words are very valuable. So far I have always equated savings and investment. After reading this I know where I went wrong. I only think of investing as a future plan but not too far away. just to buy a vehicle, house and others.
but maybe from now on I will invest for a more distant future like my children's future and for myself in old age.

That's much more important, indeed, because investing for the future of our children and for our old age will at least guarantee our lives a little.
but even so, everyone's investment plan is different,
what is clear is that investment is very important for the future

[acener]

Well I learned it the hard way, I was confident living with only investment so when things got bad I don't have any back up.
So now I am starting over again and I am not starting from nothing because of all of my experience and things that I learned from my mistake,
I hope I could make it back again and handle it nicely this time.

[Alisha-k]

Investment In a way is another form of saving just that the method for investment is  dynamic. Dynamic in the sense that nothing about investment is constant. Savings on the other hand is static in nature but both can still go hand in hand b cause it takes one who has enough savings to venture into an investment.

[iv4n]

Investment In a way is another form of saving just that the method for investment is  dynamic. Dynamic in the sense that nothing about investment is constant. Savings on the other hand is static in nature but both can still go hand in hand b cause it takes one who has enough savings to venture into an investment.

I think the same, investing is a form of saving... someone can save some fiat money, which will lose value over time due to inflation, or someone can choose to stack some coins that can be more valuable one day than now! And there're always gold, silver, and many other valuables that are good for saving, slow but steady rise in value over the years!
For me, the first rule of saving/investing should be to try to earn more than you are spending and you will have for saving/investing! If that's not the case, you should look for more work so you can earn more, or simply cut some spending!

[Ryu_Ar1]

It seems that when they say this they have been influenced by Saylor who actually said that by borrowing money and then investing in bitcoin
but as you said this is still very risky it will be safer if you use your own money for this.
The logic is quite simple because there are indeed many people here who say that investing must be with money that is at least not too used, in the sense that we already have provisions for living and the rest will not be used for some time.
and we really don't need to do anything extreme to invest like that

On my part, as much as possible, better use your own money for investments especially on high-risk investments.
Some people can make borrowed funds turn around but not all have the capability to generate profits.
If you want less trouble, better be contented on what you have and not aim for big if you can't afford yet.
Because if you are truly confident with your skills, you can already have profits on whatever you have.

Agree with what you said but the problem is that nowadays many beginners feel that this is the best way to earn money.
Technically it's still true but they go to the extreme Way as said by Saylor which makes this complicated for them.
It's quite a pity but this is something they have to live with because they are too confident about it.

Being aware of your abilities and being humble is still good enough in this case even though the profit is relatively small, it doesn't matter in my opinion as long as it's personal money

[bustabitsboy]

Well I learned it the hard way, I was confident living with only investment so when things got bad I don't have any back up.
So now I am starting over again and I am not starting from nothing because of all of my experience and things that I learned from my mistake,
I hope I could make it back again and handle it nicely this time.

I wish you good luck! Starting over is always difficult. There is a fear that this time something might not work out too. You took into account your mistakes and gained experience, which is very good. Investments are not as easy as we think. Doing it right may not work on the first try. Sometimes you have to lose your money and it's sad, but I'm sure that you will succeed this time.

[lixer]

I agree with you and I think while investing, one should always put this at the back of the mind to not invest more than they can actually afford to avoid being panic aftermath of putting the funds into it.

We should save first before we enter the world of investment, because investing takes a very long time, sometimes we also have to wait years, so we must prepare ourselves to manage our finances, we must not be careless we must be able to manage our finances so that we don't get caught up in financial problems.

When we know how to save, that means we are now ready to invest because both have their similarities. That is you can't pull out the money immediately but you should wait a year or the longer the better. The good thing about investing first is that it's okay to lose your investment because you know that you still have a money left.

You cannot go home empty. Also by that, you will have the courage to to wait for a long time and there is no pressure or panic, whenever you see the price dumping. Long term investment is hands free not unlike to trading that it needs monitoring so it's okay to be careless as long you invest on a good quality coin.

[uneng]

The second rule is networking! Networking means a lot in life. You can be Johnny Depp but without good connections, you may end up in the street along with drug addicts.

That is an essential point forgotten by many. People don't consider they need connections to have a job, that will eventually allow them to start saving money, so they can be finally able to invest it. Depending the connections' quality the opportunities you will have access can be more or less profitable, dangerous, risky, ethical, uplifting, promising...

Online courses, videos and testimonies always draw the situation as every aspects and characteristics of your life depend exclusively on you, and that you can reach the top of the world like every successful celebrities and entrepreneurs only through your own effort and will, but totally ignore the fact all those people had connections which made it possible for them to reach where they are.

Sometimes the person is an excellent professional on his field of work, but without connections nobody will know about him, his work and everything he has to offer with his skills.

[Nerdy doctor]

Savings can not be overemphasized when venturing into investment and business in general but I know that the first and most important rule of investing and literally doing anything is that you must have a plan on how to go about it. Without a well laid plan, you won't see some likely obstacles that may arise sooner or later.
While with a well laid plan, you have foreseen likely events that may occur and put forward best methods to go about tackling those events or using it to your advantage. Planning is foremost when investing cause without a good set of well laid down plans, your savings would probably go down with the investment.

[milewilda]

Well I learned it the hard way, I was confident living with only investment so when things got bad I don't have any back up.
So now I am starting over again and I am not starting from nothing because of all of my experience and things that I learned from my mistake,
I hope I could make it back again and handle it nicely this time.

I wish you good luck! Starting over is always difficult. There is a fear that this time something might not work out too. You took into account your mistakes and gained experience, which is very good. Investments are not as easy as we think. Doing it right may not work on the first try. Sometimes you have to lose your money and it's sad, but I'm sure that you will succeed this time.

We do all start on being a noob or something that does have zero knowledge on things but once you do get the real experience then you would really be that able to be aware on how
things should be done.Speaking with savings then it could indeed give out that kind of advantage on several things specially if you do have accumulated enough which you could
potentially make out investments on particular conditions specially if you do see some opportunity which you cant do it when you dont have savings.
When you do make money out of investments then you do save up money which its just really a cycle.

[EdenHazard]

Savings can not be overemphasized when venturing into investment and business in general but I know that the first and most important rule of investing and literally doing anything is that you must have a plan on how to go about it. Without a well laid plan, you won't see some likely obstacles that may arise sooner or later.
While with a well laid plan, you have foreseen likely events that may occur and put forward best methods to go about tackling those events or using it to your advantage. Planning is foremost when investing cause without a good set of well laid down plans, your savings would probably go down with the investment.

+1

Anticipating something that might occured unexpectedly in the future is one of many factors that most people missed , they are way too confident and forgetting about to manage the risk , they think feel like there is no risk in it , while actually there i a lot of risk!

Investment would go well once you experienced and learned it as time goes by while you making a plan so yeah go for it and evaluate everything from A to Z.

[Oluwa-btc]

The first rule to saving should be planning please, you have too seat and plan before you eventually push your racks Into whatever you want too.
Calculating the risk involve so as you don't blame any for your losses.
Preparedness is one of the success hacks , for the future you envisage you have to work and groom it, as you will never get what you don't work for. So for me the first rule to investing is planning and organizing your funds.

[TribalBob]

yes, you are right to save with the aim of investing, but before saving, you should look at the existing financial condition whether it is sufficient or still lacking, because most people who have a desire are willing to sacrifice what should not be a victim because they have a personal desire to have something but have to reduce the share of their children and wives (household needs)

[Altryist]

yes, you are right to save with the aim of investing, but before saving, you should look at the existing financial condition whether it is sufficient or still lacking, because most people who have a desire are willing to sacrifice what should not be a victim because they have a personal desire to have something but have to reduce the share of their children and wives (household needs)

Budget planning is very important, everything must be balanced. After the obligatory expenses, there remains a budget that needs to be divided, so that each family member is provided with everything necessary. You can set aside an equal part for investing every month, let it be 10% of your monthly income. In the end, if it is difficult to do this, then you need to work to increase the income of the family, rather than deny yourself something in order to be able to invest.