Saving one third what you earn monthly is not that hard, isn't it ?

[DrBeer]

I would definitely divide this question into several parts in this topic.
1. At what level of income, per 1 person in your family, it is possible to accumulate savings
2. Is it possible to set aside savings if you have one job and no investments, passive income and other sources of income.
3. How best to store deferred savings

Regarding the first part, I explain - just taking and allocating 1/3 from the amount of income is not mathematically difficult. The question is - how much does this income cover the needs of life? If this money is not enough or "a stretch" is enough to support yourself or your family - what kind of savings can we talk about?

[Marcellin9]

I would definitely divide this question into several parts in this topic.
1. At what level of income, per 1 person in your family, it is possible to accumulate savings
2. Is it possible to set aside savings if you have one job and no investments, passive income and other sources of income.
3. How best to store deferred savings

Regarding the first part, I explain - just taking and allocating 1/3 from the amount of income is not mathematically difficult. The question is - how much does this income cover the needs of life? If this money is not enough or "a stretch" is enough to support yourself or your family - what kind of savings can we talk about?

I guess you have never saved 1/3 your monthly income before. As you said, taking and allocating 1/3 from the monthly income is not difficult, so the only question here is whether you can implement it. Ever since I was a single young graduate, I have managed to save at least 1/3 my monthly income, even after I got married. Just because you can’t save much means other people can’t do that either or logically it is wrong ? Same as keeping fit, that you can’t get disciplined to exercise regularly every day and control the intake of calories does not mean other people can not do the difficult task.

[xSkylarx]

I would definitely divide this question into several parts in this topic.
1. At what level of income, per 1 person in your family, it is possible to accumulate savings
2. Is it possible to set aside savings if you have one job and no investments, passive income and other sources of income.
3. How best to store deferred savings

Regarding the first part, I explain - just taking and allocating 1/3 from the amount of income is not mathematically difficult. The question is - how much does this income cover the needs of life? If this money is not enough or "a stretch" is enough to support yourself or your family - what kind of savings can we talk about?

I guess you have never saved 1/3 your monthly income before. As you said, taking and allocating 1/3 from the monthly income is not difficult, so the only question here is whether you can implement it. Ever since I was a single young graduate, I have managed to save at least 1/3 my monthly income, even after I got married. Just because you can’t save much means other people can’t do that either or logically it is wrong ? Same as keeping fit, that you can’t get disciplined to exercise regularly every day and control the intake of calories does not mean other people can not do the difficult task.

Lucky on you it is really not difficult if your salary is enough or possible that you are rich guy already because of your family? because even my self it is difficult due to other expenses on the needs. Life of having a family is really difficult and now that the prices almost increases all it makes us more difficult, but this doesn't mean that i dont save at all, but only if i have extra spare of money and this is not counted as 1/3 of monthly income as my salary is not the same in a month.

[CageMabok]

Of course it's nice if we have passive income from saving, there are many saving options that we can choose to get passive income, of course it takes a lot of capital to reach this passive income position, but if we start from small things and we do it regularly for a long time then we will be successful.

Saving is a very important thing in life and it doesn't only apply to those who have passive income. Because those who don't have passive income also have to save even though it's still very difficult for them when they want to do it, especially for those who already have passive income.

It's definitely easier to save the amount of money they want each week or month, and I personally also make savings for the time being in case of a hard time or a sudden large need. That is, I don't dedicate it to being successful even though I also don't stop fighting to be successful in my life.

[Chainsmokers]

Of course it's nice if we have passive income from saving, there are many saving options that we can choose to get passive income, of course it takes a lot of capital to reach this passive income position, but if we start from small things and we do it regularly for a long time then we will be successful.

Saving is a very important thing in life and it doesn't only apply to those who have passive income. Because those who don't have passive income also have to save even though it's still very difficult for them when they want to do it, especially for those who already have passive income.

It's definitely easier to save the amount of money they want each week or month, and I personally also make savings for the time being in case of a hard time or a sudden large need. That is, I don't dedicate it to being successful even though I also don't stop fighting to be successful in my life.

Sometimes many people think that saving is not important but to be honest it really helps,
saving is not for now but for the future besides that we also never know what will happen later,
regardless of whether saving or not is a choice.

[Kadal Ijo]

Saving is the most important thing in life, if we don't save then we will have trouble, there are many things we can do to save, most people save in banks even though banks only provide very low interest, now we are familiar with cryptocurrencies and making savings more effective because you get the opportunity to make big profits because a 100% increase can happen in a year or less.

[Z390]

If you are in twenties or early thirties and remain single, earn $3,000 after tax per month, you will probably save $1,000 if you, let's say, spend $500 to $800 on rental, a guest bedroom in a shared house/apartment, $500 on food, $50  on utilities, $150 on phone/internet bills, $400 on commuting costs or gas/maintainance if you have a used car, $200 on occasional entertainment or others. This $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?

Damn that's a lot for expenses right there, there are people that makes less than 3000$ per year over here and you are talking about 3000$ per month? That's a lot and if I am able to make such an amount of money every month I will be able to save 2800$ out of the money because 200$ is enough for all my spending per month, I know how to manage that 200$ and I will be comfortable doing so.

I believe savings is very helpful and the needful will come in the future, it's the same as investment but savings is a must, it's one of those reasons why investment dreams can come true, if you are investing and not saving when the emergency comes you will have no other choices than to pull out funds from your investments, which could be better if the funds are pulled from your savings rather.

[bettercrypto]

If you are in twenties or early thirties and remain single, earn $3,000 after tax per month, you will probably save $1,000 if you, let's say, spend $500 to $800 on rental, a guest bedroom in a shared house/apartment, $500 on food, $50  on utilities, $150 on phone/internet bills, $400 on commuting costs or gas/maintainance if you have a used car, $200 on occasional entertainment or others. This $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?

Of course, that can happen every month, maybe more than $1000 can be saved if you are frugal and don't spend too much. When you are careful with money you can accumulate it really easily.

     Even if I earn 3000$ monthly, I can definitely save 2k$ every time I get paid at the job I have. Maybe I can save another 2500$. Because I don't like to wander everywhere with my friends. That's doable and attainable actually.

[karmamiu]

Of course it's nice if we have passive income from saving, there are many saving options that we can choose to get passive income, of course it takes a lot of capital to reach this passive income position, but if we start from small things and we do it regularly for a long time then we will be successful.

Saving is a very important thing in life and it doesn't only apply to those who have passive income. Because those who don't have passive income also have to save even though it's still very difficult for them when they want to do it, especially for those who already have passive income.

It's definitely easier to save the amount of money they want each week or month, and I personally also make savings for the time being in case of a hard time or a sudden large need. That is, I don't dedicate it to being successful even though I also don't stop fighting to be successful in my life.

Sometimes many people think that saving is not important but to be honest it really helps,
saving is not for now but for the future besides that we also never know what will happen later,
regardless of whether saving or not is a choice.

Rather than saving putting that money into good use is much more important, for example investing it into something that has store value. Here in our country, working on jobs with not that high enough salaries can not even help you ot sustain your daily expenses that is why most of my fellow citizens here find side hustles online or even on their community in order for them to have what we called savings and investment.

[Marvell1]

Of course it's nice if we have passive income from saving, there are many saving options that we can choose to get passive income, of course it takes a lot of capital to reach this passive income position, but if we start from small things and we do it regularly for a long time then we will be successful.

Saving is a very important thing in life and it doesn't only apply to those who have passive income. Because those who don't have passive income also have to save even though it's still very difficult for them when they want to do it, especially for those who already have passive income.

It's definitely easier to save the amount of money they want each week or month, and I personally also make savings for the time being in case of a hard time or a sudden large need. That is, I don't dedicate it to being successful even though I also don't stop fighting to be successful in my life.

Sometimes many people think that saving is not important but to be honest it really helps,
saving is not for now but for the future besides that we also never know what will happen later,
regardless of whether saving or not is a choice.

Rather than saving putting that money into good use is much more important, for example investing it into something that has store value. Here in our country, working on jobs with not that high enough salaries can not even help you ot sustain your daily expenses that is why most of my fellow citizens here find side hustles online or even on their community in order for them to have what we called savings and investment.

Investment is not only profitable but also risky, there is no guarantee that the investment will be 100% sure of bringing in profit, so it is necessary to distinguish these two items separately. In my opinion, saving is more important and should take precedence over investment because life will always have surprises, and saving will help you in those emergencies. Regarding investment, it is advisable to invest only when there is idle money, money that we will not need for our daily needs, because there will be risks in investment. Don't forget the saying "invest only with what we can lose"

[nara1892]

If you are in twenties or early thirties and remain single, earn $3,000 after tax per month, you will probably save $1,000 if you, let's say, spend $500 to $800 on rental, a guest bedroom in a shared house/apartment, $500 on food, $50  on utilities, $150 on phone/internet bills, $400 on commuting costs or gas/maintainance if you have a used car, $200 on occasional entertainment or others. This $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?

Of course, that can happen every month, maybe more than $1000 can be saved if you are frugal and don't spend too much. When you are careful with money you can accumulate it really easily.

     Even if I earn 3000$ monthly, I can definitely save 2k$ every time I get paid at the job I have. Maybe I can save another 2500$. Because I don't like to wander everywhere with my friends. That's doable and attainable actually.

$3000 monthly is not a small amount, I don't even reach $1000 in my monthly income. If I earn that much then I will be able to save at least $2000 to keep as savings.
I am also a person who can save money, moreover the cost of living in my country is relatively cheap with an income of $ 3000 a month. To be honest it will make me do whatever I feel like but I can still save some money. But the problem is that it is difficult to earn that amount in the country where I live, I will be very happy if my income reaches that amount.

[DrBeer]

I guess you have never saved 1/3 your monthly income before. As you said, taking and allocating 1/3 from the monthly income is not difficult, so the only question here is whether you can implement it. Ever since I was a single young graduate, I have managed to save at least 1/3 my monthly income, even after I got married. Just because you can’t save much means other people can’t do that either or logically it is wrong ? Same as keeping fit, that you can’t get disciplined to exercise regularly every day and control the intake of calories does not mean other people can not do the difficult task.

I have a feeling that you did not understand me at all!
I'm talking about the fact that just not everyone can save 1/3, because I assume that a significant part of the world's population does not have income that will allow them to save 1/3 painlessly for life. That's exactly what I meant.

About my approaches to the formation of a financial cushion:
Until 2019 - of the total income, I saved about 25-40% in the form of diversified investments (fiat, crypto, ...)

In 2019-2020, I was saving about 10% -20% per year, because. a significant part of the income went to repair and preparation (appliances / furniture / ...) in a new apartment.

Now there is a war in my country, and for 2 years I have not traveled to other countries, which I used to do several times a year, and now I have temporarily lost another expense item, which allows me to put more money into the "financial pillow".

PS About sports in general, it turns out funny - almost 25 years of sports, now I regularly maintain the form

[Marcellin9]

I guess you have never saved 1/3 your monthly income before. As you said, taking and allocating 1/3 from the monthly income is not difficult, so the only question here is whether you can implement it. Ever since I was a single young graduate, I have managed to save at least 1/3 my monthly income, even after I got married. Just because you can’t save much means other people can’t do that either or logically it is wrong ? Same as keeping fit, that you can’t get disciplined to exercise regularly every day and control the intake of calories does not mean other people can not do the difficult task.

I have a feeling that you did not understand me at all!
I'm talking about the fact that just not everyone can save 1/3, because I assume that a significant part of the world's population does not have income that will allow them to save 1/3 painlessly for life. That's exactly what I meant.

About my approaches to the formation of a financial cushion:
Until 2019 - of the total income, I saved about 25-40% in the form of diversified investments (fiat, crypto, ...)

In 2019-2020, I was saving about 10% -20% per year, because. a significant part of the income went to repair and preparation (appliances / furniture / ...) in a new apartment.

Now there is a war in my country, and for 2 years I have not traveled to other countries, which I used to do several times a year, and now I have temporarily lost another expense item, which allows me to put more money into the "financial pillow".

PS About sports in general, it turns out funny - almost 25 years of sports, now I regularly maintain the form

Sorry for my previous reply. You are right that I did not get your point previously. I was on a business trip and lost some sleep for transit. Apologies for the  misunderstanding. Well, not everyone can save 1/3 and this is a brutal fact, but I assumed that for some people, at least for those on this forum, monthly income will not be that low and savings must be an option because if not, how come many of us are discussing investment on the forum ? Therefore, I started this thread to talk about the possibility of saving that much. It is OK if people disagree as I know this only applies to some certain people. By the way, glad to hear that you’ve made plentiful savings. I am also in the category 

[irsykes]

saving crypto that is safe for me only usdt, safe busd for the long term. sometimes we also have to be alert because bad news has an unfavorable impact on the crypto environment. if you think about saving physical gold or crypto it's the same as your own choice of convenience. there is definitely a risk of gold or crypto even though it's not big. My parents said that the investment is the safest and there is no risk of buying land because from time to time land prices keep going up and can't go down

Stable coin savings are not long-term guarantees, if you remember there were cases of stable token values dropping significantly to the $0.7/Usdt range, then there is no certainty that stable tokens will be safe for long-term investment. Investments can be allocated for various savings needs but it is better for you to choose investment for gold, half of it for crypto investment, property investment or land investment requires large funds and a strategic land location so that land prices will increase every year.

You need to do your research before taking your investment as what you mentioned there are also chances that your investment will fail and even it's a stable coin the chance that it will drop still possible, though in term of investment of other asset you should be well informed about whatever asset you choose to be your alternative asset. Long-term wise better to keep with good and well-known investment that continue to earn support from each venue of investment.

at least actively look at the condition of crypto news in order to avoid big risks, risks must follow life. and I also don't commit all the money in the portfolio to the coin stable usdt, busd. there must be half of it being used like an airdrop that uses money so that money grows not just standing still, and potential short-term coin investments. if it makes a profit it is added to the stable portfolio

[xSkylarx]

Of course it's nice if we have passive income from saving, there are many saving options that we can choose to get passive income, of course it takes a lot of capital to reach this passive income position, but if we start from small things and we do it regularly for a long time then we will be successful.

Saving is a very important thing in life and it doesn't only apply to those who have passive income. Because those who don't have passive income also have to save even though it's still very difficult for them when they want to do it, especially for those who already have passive income.

It's definitely easier to save the amount of money they want each week or month, and I personally also make savings for the time being in case of a hard time or a sudden large need. That is, I don't dedicate it to being successful even though I also don't stop fighting to be successful in my life.

Sometimes many people think that saving is not important but to be honest it really helps,
saving is not for now but for the future besides that we also never know what will happen later,
regardless of whether saving or not is a choice.

Rather than saving putting that money into good use is much more important, for example investing it into something that has store value. Here in our country, working on jobs with not that high enough salaries can not even help you ot sustain your daily expenses that is why most of my fellow citizens here find side hustles online or even on their community in order for them to have what we called savings and investment.

this is because of the inflation. i remember before that minimum salary is enough to us and there are some extra on it as we can still eat on restaurant but right now even in grocery it isn't enough and you still need to find side jobs that is why right now in a family mostly both wife and husband will work and there are still side hustle so that they can still provide to their children. This is really because of the prices of everything because if it is low then it is okay but again prices are increasing but our salary just stays stagnant

[Sithara007]

LOL... these things are easier to say. But very difficult when implemented in real life. As of now, I am having a comfortable job and I am able to save 1/3rd of my salary (almost 1/3rd is taken away by the government in the form of taxes). But that is because I don't suffer from any health ailments, and also because I have a comfortable job in hand. A few years ago, I was really struggling to even meet the monthly expenses. Forget about saving money, back then it was a big challenge even to make sure that the expenses stay at the same level as take-home salary.

[Ayers]

Of course it's nice if we have passive income from saving, there are many saving options that we can choose to get passive income, of course it takes a lot of capital to reach this passive income position, but if we start from small things and we do it regularly for a long time then we will be successful.

Saving is a very important thing in life and it doesn't only apply to those who have passive income. Because those who don't have passive income also have to save even though it's still very difficult for them when they want to do it, especially for those who already have passive income.

It's definitely easier to save the amount of money they want each week or month, and I personally also make savings for the time being in case of a hard time or a sudden large need. That is, I don't dedicate it to being successful even though I also don't stop fighting to be successful in my life.

Sometimes many people think that saving is not important but to be honest it really helps,
saving is not for now but for the future besides that we also never know what will happen later,
regardless of whether saving or not is a choice.

I wouldn't call saving important, I would consider it extremely important that anyone should have it at all costs. Because life is full of surprises, and if we don't prepare in advance, we will likely have a crisis when the unexpected happens. A lot of people complain that they can't save because their income is so low, that can be a real problem, but if we really want to do it, then we will find a way. But when we don't want to, there will always be a thousand reasons. Investing and saving are two things that everyone should have because they will be the premise for us to have a better future.

[DrBeer]

....
Sorry for my previous reply. You are right that I did not get your point previously. I was on a business trip and lost some sleep for transit. Apologies for the misunderstanding. Well, not everyone can save 1/3 and this is a brutal fact, but I assumed that for some people, at least for those on this forum, monthly income will not be that low and savings must be an option because if not, how come many of us are discussing investment on the forum ? Therefore, I started this thread to talk about the possibility of saving that much. It is OK if people disagree as I know this only applies to some certain people. By the way, glad to hear that you've made plentiful savings. I am also in the category

It is very nice to communicate with a cultured person, thank you!
Fatigue and insomnia sometimes give such special effects, with perception ... In general, the situation is very familiar

Yes, I will repeat once again - yes, unfortunately, our world is not organized very correctly ... I have visited many countries, almost all continents, and unfortunately, I have often seen that people's lives can hardly be called secure ... This very unpleasant to see. And the saddest thing is that I do not see a real and global solution to the problem of poverty.

[Marcellin9]

....
Sorry for my previous reply. You are right that I did not get your point previously. I was on a business trip and lost some sleep for transit. Apologies for the misunderstanding. Well, not everyone can save 1/3 and this is a brutal fact, but I assumed that for some people, at least for those on this forum, monthly income will not be that low and savings must be an option because if not, how come many of us are discussing investment on the forum ? Therefore, I started this thread to talk about the possibility of saving that much. It is OK if people disagree as I know this only applies to some certain people. By the way, glad to hear that you've made plentiful savings. I am also in the category

It is very nice to communicate with a cultured person, thank you!
Fatigue and insomnia sometimes give such special effects, with perception ... In general, the situation is very familiar

Yes, I will repeat once again - yes, unfortunately, our world is not organized very correctly ... I have visited many countries, almost all continents, and unfortunately, I have often seen that people's lives can hardly be called secure ... This very unpleasant to see. And the saddest thing is that I do not see a real and global solution to the problem of poverty.

Thanks for your kind reply. Well, I’ve also traveled almost all continents and do share your view on poverty. Poverty is indeed a global issue faced by all governments and their citizens but the worse part is that the gap between the rich and poor deepens the poverty issue. In many countries, the rich and ultra-rich people enjoy an insanely lavish lifestyle while the poor are barely having food on table. We always picture a nation using its bright and prosperous image but how about those poor and dark sides ? The more I travel, the more I cherish my own life. As an individual, I can do nothing with eliminating poverty but will try my best to help those who are less fortunate as much as I can.

[Cryptmuster]

I wouldn't call saving important, I would consider it extremely important that anyone should have it at all costs. Because life is full of surprises, and if we don't prepare in advance, we will likely have a crisis when the unexpected happens. A lot of people complain that they can't save because their income is so low, that can be a real problem, but if we really want to do it, then we will find a way. But when we don't want to, there will always be a thousand reasons. Investing and saving are two things that everyone should have because they will be the premise for us to have a better future.

You can always find an opportunity to postpone, but if you deny yourself something to postpone, this is not the best way. It is better not to postpone during such periods, but think about what you can do to increase your income, then after the usual spending you will have money left that you can save, and you will not have to deny yourself anything. And when the saved money starts to work and bring you profit, it will bring more additional income.