Saving is Wasting?

[dzonikg28]

Saving is wasting because every year fiat always inflated, so if you save $50 every month, which will be $600 in the end of year, but actually your $600 doesn't have same buy power like when you start to save, maybe it's already become $550, so you're always lose your money.

You can invest to stock, gold or Bitcoin, depends with your choice. You don't need to worry if you're need money in hurry, because you can sold it for instant, so you can use the money you invested for emergency needed.

Saving is wasting only if you save for wrong purpose. But saving is better than making wrong investments. I have seen people who bought shares of some companies and 5yrs later the share was worth nothing.
However your savings will always be there and inflation can only affect some percentage of it and not the whole capital.
In conclusion, you can save and also invest.

Indeed, both are good, I just find it funny how many people brag that they only have one investment and no savings. They believe that investment will help them create more wealth while saving not only does not create more wealth, but inflation eats away at their money. They said it was not wrong, but they ignored the risk when investing, in addition to the profit, the risk is something we can encounter. Inflation is causing money to depreciate, but it won't fall as quickly as investments. If someone saved in 2022, their wealth would only lose a few percent of its value due to inflation, but if someone invests in bitcoin or stocks, their wealth may lose around 30-50 % value.

Correct and if you have an imbalanced portfolio that only consists of investments and no liquid savings you can also be forced in a bad moment to liquidate positions at a big loss. That can be anything in life that comes across your way and you are dependent on liquidity.

The worst that can happen is really if you have to sell part of your investments at a loss because you have never ever saved money for worst case scenarios.

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[Natalim]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Think about your priorities first before planning to put your extra money into an investment. I know it was your desire to invest and make some earnings while studying but in the case today, I think you should focus on your studies first and make prepare for future expenses so you don't need to ask your parents for money. Saving is not a waste of time because we have the purpose of dong this. In fact, as a student we have been encourage to make this as a habit. We can start investing if we already have enough savings so no matter what will happen to that, we still have money left.

[Reid]

You should not worry yourself too much about investments for now, being a student. Save all those money that you can and use whenever there's a necessity for school projects and other expenses. Some say, invest while you are still young, well that's correct if you have the money to invest. But according to your story, there is none, so why waste time at thinking about risking it with an investment while learning is also part of investing for your future.
Someday, you will have a job and lots of investment choices will be in front of you, that's when you will have to stress yourself on what to choose.
Right now, carry on, just study and hope that in the future you will get a good job.

[bettercrypto]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

You know I feel what you're saying and I've also experienced being a working student just to pay for my college expenses and it's not easy.

    But you know, if you are here in the crypto industry and you know the basics of crypto trading, you can do day trading, and if your budget allows you to accumulate bit by bit bitcoin and other altcoins. that you think will give you potential earnings in the future.

[philipma1957]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Cash is king and saving it is clever.

or  saving is wasting?


which is true?

answer both are wrong and both are right it is a guessing game.


Example I save 20 dollars a week for a year under my mattress and I have 1040 cash. Let's say inflation was 7% so it is worth $967.20 seems like I lost out.

But wait a minute I find an item being sold for 700 and I know it is worth 1800 the cash wants cash I give him the 700. I have 340 left and sell the item for 1800 I now have 2140.

So cash was king.

But you need to be able to make a deal like that with the cash. Or saving was wasting.

[DOH!]

I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

In a more abstract sense, “saving is wasting” might fall under another category.  Maybe it will be people who make money, save, create assets but when they die they will have nothing, that means some people will live better in the present, like to shop will shop,  love to eat what you like, do it for yourself to feel satisfied… or figuratively applied, when you save money to buy a house, until you have enough money at a time where you direct all your efforts  eventually, inflation swept away that goal.  Money always depreciates when you save it, so save for investment.  suppose, receive a salary of 700$/month and deduct the cost of consumption, living... 100-200$ will be the saved part, use it to invest bitcoin

[Inwestour]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Student years are difficult times for many, if you are not from a wealthy family, when yourself have to provide everything you need. Many of us have gone through this, and I remember myself that in those days I spent very little, now I can’t even believe that I needed so little for life.

At the same time, I always had some kind of part-time job, I worked where they paid well, and although it was not a permanent job, I could still save some money. In those days, I didn’t have to think about any kind of investment, because it was insignificant money, I just didn’t see the point in investing it anywhere, so I just saved up.

[MusaPk]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Student years are difficult times for many, if you are not from a wealthy family, when yourself have to provide everything you need. Many of us have gone through this, and I remember myself that in those days I spent very little, now I can’t even believe that I needed so little for life.

At the same time, I always had some kind of part-time job, I worked where they paid well, and although it was not a permanent job, I could still save some money. In those days, I didn’t have to think about any kind of investment, because it was insignificant money, I just didn’t see the point in investing it anywhere, so I just saved up.

IMO we must think wisely about when to invest and when to save. Like you pointed out that if you are student and not have solid financial background, in such case saving is the wise decision. Since you need cash to pay for your fee, accommodation and food charges. Once this phase is over and you have a job then one can start thinking of where to invest. Saving and investing both have own benefits but we have to think rationally about what to choose under given circumstances.

[el kaka22]

First of all, there is no "limited side hustle" anymore because we are in the online world, if you can write here, then you can earn money from working online as well, if you are still a student, it would be wise to learn at least one skill you could sell in the future, that way you will never have no side hustle, you will always have one. On the other hand, if we are talking about a situation where it is more like start working now, or start investing now?

I would say forget about all of that and actually study, not just study for the class, but actually study. I regret not being a better student, it would have given me so much more but I didn't and can't get that back, I hope you will take it more seriously than me.

[Doan9269]

There's nothing being wasted in making some savings except if what you're actually saving is not worth it, this now channels us further in understanding the difference between investment and liability, we must understand the broad difference that what ever thing we are going for that does not have a second hand value, future value shouldn't be our target because it will cost olus more at the process when trying to secure a room for its profitability, we should invest on something that will appreciate in value over time.

[uneng]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Will you need this little amount of money you have for future expenses and emergencies? If so, save it, if not, invest it.

As a student, I guess you spend extra money with frequency for transport, feeding and living reasons, so it's really hard to think about growing your finances on this moment of life.

Anyway, I think the real investment here are your studies. You are investing time and money on a degree aiming a career and a prosperous life futurely. Don't worry too much about investing your money now, because if you are a good student you are also going to be a good professional, so there will be plenty of jobs' opportunities for you where the payrates must be quite decent and rewarding, surpassing the potential profit you can make investing little sums of money right now.

[19Nov16]

Saving in my country is really wasting time, and will not increase, the interest earned is not in accordance with the calculations, and maybe only increases around 4% per year, saving is a human error and only suitable if they save large amounts of money, unfortunately advertisements from many banks to save money is increasingly massive and they use a lot of market strategies so that many people want to save money in banks.

[misterrtwisterr]

I wouldn't say it's wasting, but it does become pointless at a certain point, especially if you're already well settled in life. There's balance in everything.

[Alisha-k]

Being a student is really not easy, the struggles of feeding, transportation, clothing and school requirements get worse by the day. Saving isn't wasting, it has never been, you save for tomorrow.
Personally, I do not think you should save the money, if you have an idea of a good investment plan/ policy, go for it, that will serve you better.

[stomachgrowls]

Being a student is really not easy, the struggles of feeding, transportation, clothing and school requirements get worse by the day. Saving isn't wasting, it has never been, you save for tomorrow.
Personally, I do not think you should save the money, if you have an idea of a good investment plan/ policy, go for it, that will serve you better.

This is true which it is really hard to save up when you are still dependent with your parents on which getting some extra would be entirely be depending on your allowance.Most of the time you wont really be minding

much about investment when you are still on this age bracket yet the main thing would be on your mind would really be your studies.Its not really that bad for you to focus but if you are really that minding
about some future plans or you do have the intention on having that financial opportunities then its not bad to go with this path.

It is really just that there are things which do leaves you no choice but to deal with the current thing that you are dealing with.

[Cookdata]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

No troll intended my friend but I thought you should have some bitcoin considering your account has been registered since 2017!  Saving is just like doing a grant fund for banking organizations, the money they run as a business is owned by people like me, and you, they make collective donations from rich and poor and set that up with interest rate that will give you nothing at the end of the year, the banks only favor those who have big shares, the poor only suffer at their hands by saving in their custody with poor services they may debit you at the end of the day. My little already known advice, buy and hold bitcoin when the price sinks at any given opportunity.

[suzanne5223]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

No troll intended my friend but I thought you should have some bitcoin considering your account has been registered since 2017!  Saving is just like doing a grant fund for banking organizations, the money they run as a business is owned by people like me, and you, they make collective donations from rich and poor and set that up with interest rate that will give you nothing at the end of the year, the banks only favor those who have big shares, the poor only suffer at their hands by saving in their custody with poor services they may debit you at the end of the day. My little already known advice, buy and hold bitcoin when the price sinks at any given opportunity.

The longevity of an account doesn't justify the user's knowledge but I guess the user is stuck with the idea that education is the only thing to thrive in this world whereas it's all scams just like the fiat currency because most people who are Billionaires now are dropouts.
Having said that, the idea of saving fiat is a waste. Why would anyone save fiat currency when the government keeps printing more of it? It is better to invest in Bitcoin and Gold.

[Freeman66]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

No troll intended my friend but I thought you should have some bitcoin considering your account has been registered since 2017!  Saving is just like doing a grant fund for banking organizations, the money they run as a business is owned by people like me, and you, they make collective donations from rich and poor and set that up with interest rate that will give you nothing at the end of the year, the banks only favor those who have big shares, the poor only suffer at their hands by saving in their custody with poor services they may debit you at the end of the day. My little already known advice, buy and hold bitcoin when the price sinks at any given opportunity.

The longevity of an account doesn't justify the user's knowledge but I guess the user is stuck with the idea that education is the only thing to thrive in this world whereas it's all scams just like the fiat currency because most people who are Billionaires now are dropouts.
Having said that, the idea of saving fiat is a waste. Why would anyone save fiat currency when the government keeps printing more of it? It is better to invest in Bitcoin and Gold.

 I totally feel what you are passing through, I understand you very well, To be frank I wouldn't advise you to save money while there are myriads of financial problems, I would advise you save when there is much. That is when you are less expenses spree. You can save the little you can for emergency purpose. But in a situation where you don't have much please avoid saving.

[kawetsriyanto]

I wouldn't say it's wasting, but it does become pointless at a certain point, especially if you're already well settled in life. There's balance in everything.

What balance do you mean? 

Yup. It is not wasting, saving means preparing reserved money for the future.
If we have savings, we won't be confused whenever we need some money in the future. We may have urgent needs in the future, so we must spend some money at that time. That's why we must have savings to ensure that we can deal with that situation.

However, if you expect profits, you may view it as "wasting/pointless".
Saving doesn't gain profits, it is different from an investment that offers profits in the future.

[erep]

Yup. It is not wasting, saving means preparing reserved money for the future.
If we have savings, we won't be confused whenever we need some money in the future. We may have urgent needs in the future, so we must spend some money at that time. That's why we must have savings to ensure that we can deal with that situation.

However, if you expect profits, you may view it as "wasting/pointless".
Saving doesn't gain profits, it is different from an investment that offers profits in the future.

At the very least, we must have savings or investments for future emergency needs because we cannot rely on anyone to be able to lend money for urgent needs except from our own savings, so we must allocate some of the funds for savings from our monthly salary, but if we have other skills then we can allocate the salary from a side job for savings.