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Author Topic: Get, Save & Invest.  (Read 1032 times)
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May 06, 2022, 09:42:22 AM
 #21

If I save/invest my money in fiat, I rather use a compound interest deposit which is the best solution.
Be it simple or compound or whatever interest it is, that does not change a wolves to be a sheep. Fiat is fiat, no matter the saving type you used, you will already be losing as the fiat devalues. Definitely the government in conjunction with the central bank will reduce fiat value.

And being an investor, it is being learnt in the process when you've come to understand that your money sleeping in the bank isn't going to multiply by just being there.
The fiat will increase in number as per the interest agreement between you and the bank you invest, but the value of the total money you invest plus the profit made in years will not have the buying power of the total money you invested, which means that it is loss and the banks are just using the interest to deceive because it is not what is happening in real life.

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May 06, 2022, 10:37:05 AM
 #22

Knowledge is the power that we need. Many have money but don't have investment knowledge or plan to grow the money. I think the best form of saving is investment, if you invest your money it begins to work for more money meaning your capital is still there available (as money you suppose to save) and has accumulated more profit on it. Not holding money physically but saving it through investment is a good business knowledge.

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May 06, 2022, 10:45:45 AM
 #23

Get Money - Save money - Invest money.
Follow the cycle and don't stop half way.

Follow the cycle, don't stop halfway at saving money.



OP,you sound like one of the "make money online" gurus,who is teaching really basic stuff(common sense),but it's being presented as some kind of deep and groundbreaking wisdom. Grin
You sound like the guy,who says to a homeless man "Don't have a home?Just buy a house." Grin
Don't have money?Just get money-save money-invest-money. Grin
The real problem is how to make money,not how to save and invest them.A poor/unemployed person doesn't care about saving/investing,because he doesn't have money to save and invest.




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May 06, 2022, 11:10:22 AM
 #24

Get Money - Save money - Invest money.
Follow the cycle and don't stop half way.

Get Money- Popular opinion is that you need money to get money, any contrary opinion?
Once you have started getting money the next objective should be how to get more.

Save money- To save money is good, another popular opinion to support this is that , the money you save today will save you tomorrow.
The problem however results when you just keep saving money pointlessly without any plans on how what to do with it, The worse of all is saving money in fiat banks, that money will loose value in no time at all.

Invest money- This for me is the last stage in the cycle that creates more money for you to be able to get more money. More money betters ones opportunities.

Follow the cycle, don't stop halfway at saving money.


Saving aren't pointless and there is no specific plans on how to spend it required for you to start saving because basically savings are supposed to be for emergency purposes. You'll never know when will you get sick and temporarily halt your business or monitoring your investments because you're in a hospital care and that fund you have saved will serve it's purpose while your profit is temporarily halted.

A wise financial advise would be, always have a separate allocations for savings and investments.
Once you have emergencies, you don't need to get everything from your investment profit because you have emergency funds.

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May 06, 2022, 01:21:01 PM
 #25

Get Money- Popular opinion is that you need money to get money,

I think it's also good to highlight the various means one can acquire the money we are talking about, we can't just keep on insisting on getting the money because there are many means one can derive to get money both the good and the bad, i will suggest few means one can adopt to source for financial aid:

engage on menial jobs
solicit for help from family or relatives
develop a skills that can be saleable
discover a problem and provide a solution

And lastly, i will suggest not to ever engage in taking loan for a crypto startup, because the risk their could be a great challenge especially when you don't know much about how it's been done.

Invest money- This for me is the last stage in the cycle that creates more money for you to be able to get more money. More money betters ones opportunities.

We cannot advise people to invest money just like that, on what are they going to invest on?

We have to understand the difference between an asset and a liability in this regard, bitcoin is a good source of an investment for an adequate store of value if used as an asset, try to avoid many altcoins (shitcoins) because they resulted to fake projects at the end and the risk involve is higher than the benefits to get there. Therefore bitcoin is most recommended in this aspect of digital currency while real estate and gold could be an alternative for physical asset investment.

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LogitechMouse
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May 06, 2022, 01:44:44 PM
 #26

Get Money- Popular opinion is that you need money to get money, any contrary opinion?
Once you have started getting money the next objective should be how to get more.
Well, I agree that you need money to get more money.
On the other hand though even you have the money, you will only get more money if you know how to grow that money you have.

Save money- To save money is good, another popular opinion to support this is that , the money you save today will save you tomorrow.
The problem however results when you just keep saving money pointlessly without any plans on how what to do with it, The worse of all is saving money in fiat banks, that money will loose value in no time at all.
The worst part is you are saving your money in fiat for no reason.
I have been saving fiat money in my bank but it has a reason why I put some on my bank account. It is my emergency funds if something bad happens. The problem with some bank users is that, they are putting their money in their account for no reason. They don't know that inflation is eating their money and how much is the interest of a bank? Here in our country the average is around 1% per annum which is insane.

Invest money- This for me is the last stage in the cycle that creates more money for you to be able to get more money. More money betters ones opportunities.
I don't know what my life is right now if I didn't learn how to invest. I might still be depending on my 8-5 work.
Crypto is the reason why I learned how to invest. It is the reason why I'm into investing right now. Because of crypto, I tried to learn to invest into other assets like stocks and bonds etc. Rich people have investments either stocks or business etc. and no employee became rich just because of working from 8-5 so investing is the key to financial freedom Cheesy.

Follow the cycle, don't stop halfway at saving money.
There is nothing wrong with saving money as long as you have purpose into it but the worst thing to do in your life is to not invest at all for the long term.

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May 06, 2022, 03:10:06 PM
 #27

Get Money - Save money - Invest money.
Follow the cycle and don't stop half way.
Do not forget to Take Profit after Invest Money so you will have more money which will give you ability to Get Money and Save Money.
Yes, the process will be like that for the investor and will not stop.
Saving in the bank will not give you big return in the future but if you save in bitcoin, you will have the opportunity to get big return in the future.
It is about how to open your mind to use the other option to make more money.
The more opportunities you have, the more you can make money.

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May 06, 2022, 04:03:08 PM
 #28

Money is like a messenger. It delivers the exact message it is sent. It's a typical example of garbage in and garbage out. Getting is the first step in the money cycle, I think  investing is the second then save so you can  invest more. Saving is like tying down funds and once a fund is tied down it might be spent on something else other than investment.

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May 06, 2022, 04:06:38 PM
 #29


Invest money- This for me is the last stage in the cycle that creates more money for you to be able to get more money. More money betters ones opportunities.

Follow the cycle, don't stop halfway at saving money.



Instructions unclear: put everything in shiba.

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May 06, 2022, 08:52:29 PM
 #30

You can also add the option GIVE, because its really good to help other people as well even if you are not that successful yet, because the more you give the more you can get when good karma hits you.

This is superficial but I do love the idea of helping others.


Invest money- This for me is the last stage in the cycle that creates more money for you to be able to get more money. More money betters ones opportunities.
Follow the cycle, don't stop halfway at saving money.
Instructions unclear: put everything in shiba.

And see yourself broke in no time  Grin.



I can add no more to OP's statement.  If we follow the cycle he suggests, and become successful on the third phase, we can hit financial freedom for sure.  Both the first and the last phase is the hardest part of that cycle so we better put a really hard thought on how we will approach them.

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May 07, 2022, 12:25:17 AM
 #31

What the OP stated is the basis of financial management where these steps are safe play.

In life we need money for the necessities of life, and the next step is to manage money after we get it. Everyone knows this, but not everyone can save and invest.

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May 07, 2022, 05:17:36 AM
 #32

Great in theory and bad in realization.

After you get money, do you think you don't have any daily expenses e.g. food, transportation, maintenance, health, and medicine if you sick. The thing is most people doesn't earn a lot money, they only earn for his daily life and doesn't have anything left to save. Even after you save your money, you'll faced many problem and it force you to use your save money. Now talking about invest money, investment doesn't always increase and you'll panic if the market goes dump.

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May 07, 2022, 05:30:04 AM
 #33

What the OP stated is the basis of financial management where these steps are safe play.

In life we need money for the necessities of life, and the next step is to manage money after we get it. Everyone knows this, but not everyone can save and invest.

It is true that the majority of people already know the steps mentioned by the OP are ways to make us safe in life. Because it's a basic step that
has often been explained by economists, motivators and also our parents. But the problem is that people rarely carry out these steps correctly,
there are many reasons why people don't take these steps. There are people who have a high lifestyle, eventually their income always runs out
and cannot save and invest. There are also those who have very low incomes, and that makes it difficult for them to save and invest, because they
don't have enough for daily expenses. And lastly why people don't save and invest, because they lack knowledge and education about how to manage
income wisely.

It means to return to ourselves, if we want to be successful people and have a bright future. The key is how to manage our income properly. Actually,
whatever our income, if used properly, will definitely be able to make our lives for the better. So it's not a big or small matter of income, but how
do we manage the income we get wisely and correctly.

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May 07, 2022, 05:36:32 AM
 #34

Great in theory and bad in realization.

After you get money, do you think you don't have any daily expenses e.g. food, transportation, maintenance, health, and medicine if you sick. The thing is most people doesn't earn a lot money, they only earn for his daily life and doesn't have anything left to save. Even after you save your money, you'll faced many problem and it force you to use your save money. Now talking about invest money, investment doesn't always increase and you'll panic if the market goes dump.

You have a point, it's great in theory, but when it comes to the realization that can be a hard task! The ones who have extra cash can save/invest, but many can't allow themselves to think about that! Most people don't earn enough for basic needs,  and when someone is always short with money how can he even think about saving/investing anything! Even harder for them to invest in for the long run! They are not in the situation to wait patiently!
And I guess we all know that saving/investing is usually the best when it's for the long run! Short-term investments and quick profits are risky, and making a profit in that way requires nice capital, and I guess many poor people don't have basic knowledge about these things!

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May 07, 2022, 06:17:22 AM
 #35

Savings can be difficult for many people especially when the demand of their needs is equal to their income, even if one tries to saves it is not certain that if problem comes that requires money one won't run back to the savings to temper with it. This plan of save and invest works for those who are having good amount of income,  they can save money and not going after the savings at anytime soon, they can think of making investment without any stress.

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Davidvictorson
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May 07, 2022, 06:23:16 AM
Merited by The Pharmacist (3)
 #36


Get Money-
Once you have started getting money the next objective should be how to get more.

In my opinion, this is basically what venture capitalists do. They first figure out a sustainable way to get the money and keep getting it.


Quote
Save money-
The worse of all is saving money in fiat banks, that money will loose value in no time at all.

Then they do what I call  "temporary hodling". Because they know that their money is useless in the bank, they hodl temporary in whatever form until  they get a good pitch and decides to invest. Then the cycle repeats itself. This my strategy. Although, the investment stage is most critical because one silly mistake and you're back to square zero.

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May 07, 2022, 06:46:27 AM
Merited by The Pharmacist (3)
 #37

Save money- To save money is good, another popular opinion to support this is that , the money you save today will save you tomorrow.
The problem however results when you just keep saving money pointlessly without any plans on how what to do with it, The worse of all is saving money in fiat banks, that money will loose value in no time at all.


This one is literally should be excluded from the plan of execution. Any money that is sitting in your bank account is just going to make bank richer and richer everyday. With the inflations at its peak and central banks imposing higher business interest rates in rebate, we gonna make them rich and our money is going to be slaved.

All we get back is 4% or max 5.xx% if person is senior citizen and he has no idea what the heck he is going to do with that much interest money. Lolz.

The worlds changing faster, we need money to work for us and create multiple income sources. Share markets, stocks, bonds, MF's, there are so many things really! Wanna save? Save into them!

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doomloop
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May 07, 2022, 06:59:36 AM
 #38

If I save/invest my money in fiat, I rather use a compound interest deposit which is the best solution.
Be it simple or compound or whatever interest it is, that does not change a wolves to be a sheep. Fiat is fiat, no matter the saving type you used, you will already be losing as the fiat devalues. Definitely the government in conjunction with the central bank will reduce fiat value.
The only way that you could make a profit is if you earn more fiat in a single year than the inflation shows. Which means if the inflation is 7% and to make sure you are doing great lets add a bit more, if you make 20% return then it is not that bad.

This is why I am not against staking some of the stablecoins as well, because it could be providing a good return, but usually not enough to overcome inflation so I do not do it personally but understand the ones who do it. On the other hand crypto both goes up in the long time and you stake it so you have more of it as well, combine the two together and you could make so much more so why pick fiat?




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Fesatmas
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May 07, 2022, 07:22:06 AM
 #39

Savings can be difficult for many people especially when the demand of their needs is equal to their income, even if one tries to saves it is not certain that if problem comes that requires money one won't run back to the savings to temper with it. This plan of save and invest works for those who are having good amount of income,  they can save money and not going after the savings at anytime soon, they can think of making investment without any stress.
This is indeed a big problem for some people, they are not unwilling to save and invest. But the problem is that their expenses exceed their income. Indeed, it can still be overcome by saving, prioritizing primary needs and not spending on things that are not so important.
The second problem arises after starting to save or invest, sometimes we have to lose because of a sudden need.

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May 07, 2022, 11:56:22 AM
 #40

If only it is as easy as it sounds especially for those people classified as lower class. We all know that cost of living in this world is very high and not everyone can afford to save money or even get a job sometimes that pays well. But yeah, I still agree that we should not stop halfway and just keep on getting money, save if possible and learn how to invest wisely because that is our only option to have a better life. Although investing is very hard as well, because it is really hard to figure out whether our investments are right or not, or whether if it can give us a decent return in a few years we should never stop. We should always keep on learning and figuring things out and from there, we can successfully execute those cycle get, save and invest.
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