The first rule of investing is saving

[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.

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[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.