The first rule of investing is saving

[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.

[1714308886]

1714308886

[1714308886]

1714308886

[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.