The first rule of investing is saving

[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.