The first rule of investing is saving

[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.

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[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.