The first rule of investing is saving

[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.

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[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.