Saving is Wasting?

[axxo]

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.

Saving is not wasting, saving is a wise financial decision to make to help us to achieve our goals in life. As a student there are several ways to save money such as create your own budget and stick to it, this will help you to monitor your expenses and to avoid overspending. Avoid unnecessary expenses like eating on of fast foods that is too expensive nowadays, or buying branded clothing's. You can buy also second hand textbooks so that you can save. Look for a part-time jobs to earn extra income.

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[Betwrong]

because it is better to keep it in the bank so that it somehow has an interest profit even if you don't move it.

Banks are not really good due to inflation. Crypto well yes one could use a decent coin or 2 but that is also a risk.
Before the economy went haywire people put money in cars, houses, and some properties.
Still the habit of saving is important to dominate. I know a buńch of people who are unable to save.

They seem to hate value. All money they get they spend immediately

I wouldn't blame them if they were people of low income. In fact, I was in their place for quite some time in the past: when if you manage to earn some money you spend it right away, mostly on food for you and your kids. But even if have some spare money in the end of the month, and you are student like the OP here, I wouldn't recommend saving, or investing in anything besides your education. Your knowledge will bring you not only money in the future, but also a better idea of what to do with the money you have.

[ajiz138]

Saving cash at home is not recommended, especially when you won't earn any interest rates. How would you offset the negative effects of inflation if your money remains static? That's where savings accounts, Certificates of Deposit, and IRAs come in (banks). Or you can choose Bitcoin and Gold to save money if you don't mind about the risks.

I have never kept a lot of money at home except for my daily needs, now many put it in the bank because those who believe in saving money there because they feel safer them, especially since there are offers of deposits from banks with interest rates every year However, this will not avoid inflation every year because every time the fiat value always weakens.
Storing in bitcoin is too risky for those who still lack confidence in its stability, but the average person's deposit is in gold which has a stable value even though gold now has to pay taxes on its holdings.

I understand not many people will be able to save money this time due to the high cost of living. Only those with "spare money to lose" will be able to do it. The decision is entirely up to you. As long as you don't spend more than what you earn, there should be nothing to worry about. Just my thoughts

The high cost of living is unavoidable because of how we socialize, if we save more than what we earn every month it doesn't matter, the most important thing is that it must be balanced with the cash flow we get, the important thing is to shop according to our needs, don't overdo what we need to buy only be goods that do not need properly.

[WillyAp]

I wouldn't blame them if they were people of low income.

Most people here have a low income.
To get a start up Capital you can even get a a smallish budget if going hungry now and then. What do you need 15 pairs of low quality shoes for?
That is the art of saving, saving for a purpose.

[Unbunplease]

The high cost of living is unavoidable because of how we socialize, if we save more than what we earn every month it doesn't matter, the most important thing is that it must be balanced with the cash flow we get, the important thing is to shop according to our needs, don't overdo what we need to buy only be goods that do not need properly.

You should always understand that living according to a plan is impossible these days. You can lose all of your savings in an instant because of the collapse of the bank where you keep your money, or because of a relative's serious illness. Many other mishaps can also happen. Let's not forget the depreciation of money. So yes, saving money is necessary, but life is a lottery.

[Jamala]

Saving cannot be said to be wastage. People actually save for investment because bulk money doesn't come especially for salary earners except entrepreneurs who could get some huge sum of money from a deal. Even they too save.

[cryptoknightt]

Well I wouldn't entirely agree with you that saving is wasting, saving makes you not to spend money on frivolous things and things ordinarily you don't need and it helps to save you for the rainy days.

Even the wisest economist will advise you to put money aside. Due to your low income as a student, the money in your pocket is intended for educational expenses. But if, after your daily expenses, you still have some money left over, I think you should save; you'll be glad you did.

It is true that saving is not completely in vain. An example of the positive impact of saving is that we have priorities in shopping, makes us wiser in using money, makes us know what we need and what is not our priority.

[Supreemo]

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.

i can actually relate to your situation right now but for me you should prioritize first your studies and save money little by little, as we all know there's so many fees in school and we have to pay in order for us to continue our studies. putting your savings in investment is not actually a good idea as a student,  it's up to you taking risk decisions but you should know the possible outcome too.

[blockman]

Saving cannot be said to be wastage. People actually save for investment because bulk money doesn't come especially for salary earners except entrepreneurs who could get some huge sum of money from a deal. Even they too save.

There are people who save because they just want to save and they're afraid of taking any investment. That's different from people that save because they're going to invest their money in something else that they know will grow their money. I wouldn't say that those that are savers just for the sake of saving money are wasting also their time and money. But, it's like having a fund that they can spend whenever they are and that's liquid cash. While those people that save for investments, it might take time until they manage to get that money back for a specific period of time and it's not as liquid as the saved money unless it's on the crypto market where they can sell it as soon as possible when they're in need of money.

[xSkylarx]

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.

i can actually relate to your situation right now but for me you should prioritize first your studies and save money little by little, as we all know there's so many fees in school and we have to pay in order for us to continue our studies. putting your savings in investment is not actually a good idea as a student,  it's up to you taking risk decisions but you should know the possible outcome too.

Saving in investment is a good idea for students because it can made you aware on how to have discipline  while doing your studies also the better approach on this is that he is just turn between the two for the purpose, it is better he should start saving now regardless of the purpose and as the time goes by he will then discover what is better, just save it that is difficult to get like a piggy bank and if it is already accumulated overtime then that is the time he will decide if it is for investment or not.

[barisbilgili]

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.

i can actually relate to your situation right now but for me you should prioritize first your studies and save money little by little, as we all know there's so many fees in school and we have to pay in order for us to continue our studies. putting your savings in investment is not actually a good idea as a student,  it's up to you taking risk decisions but you should know the possible outcome too.

Saving in investment is a good idea for students because it can made you aware on how to have discipline  while doing your studies also the better approach on this is that he is just turn between the two for the purpose, it is better he should start saving now regardless of the purpose and as the time goes by he will then discover what is better, just save it that is difficult to get like a piggy bank and if it is already accumulated overtime then that is the time he will decide if it is for investment or not.

saving or investing is something that is done after fulfilling all needs and desires, when you have more money after all that is fulfilled then deciding to invest is the right choice for a better future, that applies to anyone young or old the difference in terms of investing and saving because everyone needs it to live better in the future.
even though it's a good thing but something must be prioritized before doing that, and I don't agree with people who refrain from all desires just to invest.

[awik p]

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.

i can actually relate to your situation right now but for me you should prioritize first your studies and save money little by little, as we all know there's so many fees in school and we have to pay in order for us to continue our studies. putting your savings in investment is not actually a good idea as a student,  it's up to you taking risk decisions but you should know the possible outcome too.

Saving in investment is a good idea for students because it can made you aware on how to have discipline  while doing your studies also the better approach on this is that he is just turn between the two for the purpose, it is better he should start saving now regardless of the purpose and as the time goes by he will then discover what is better, just save it that is difficult to get like a piggy bank and if it is already accumulated overtime then that is the time he will decide if it is for investment or not.

saving or investing is something that is done after fulfilling all needs and desires, when you have more money after all that is fulfilled then deciding to invest is the right choice for a better future, that applies to anyone young or old the difference in terms of investing and saving because everyone needs it to live better in the future.
even though it's a good thing but something must be prioritized before doing that, and I don't agree with people who refrain from all desires just to invest.

Investing can be done if our lives are guaranteed, at least we already have savings for the next 1 year of life, so that we can raise money to make investments, in ongoing investments there will be no financial difficulties to meet our daily needs. this is closely related to psychological problems to hold on in the long term. a common mistake is that people force themselves to make investments, and when there is difficulty with money to make ends meet, while the investment is still in a floating minus, and eventually it falls apart. the thing to remember is that we invest, means ready to hold in the long term

[Joshika]

I don't think so, saving is wasting even it was good ideas for future plan. It depends on what you mean by saving money. Saving is an important habit it will be so usefull at the right time. it helps to cover future expenses, managed financial stress, plan for vacation or more. It might motivate to save more and the main thing we don't have to dependent upon others when we need financial support  that saving will help and it will be the proud moment for yourself.

[Bitcoin2009]

I think so, saving is wasting because we don't get anything extra when saving, in my country the current bank interest is only about 5% per year, if it is subject to fees and taxes then only 2.5% per year remains, and inflation which usually occurs is more than 4% so that saving is a loss because the value of our money decreases.

[gaston castano]

Since you are currently involved in education, you should focus more on education matters first. Because there is a certain age limit for obtaining each degree, after crossing that certain age limit, even if you want to, you can no longer study. If God keeps you alive, you will have lifetime time to invest but once the time you are spending on education is gone, you will never get that time back. And spending money on education is never a waste. Spending money on wasteful or illegal activities is money wasting. 
If the money you have is not fully spent on your education then you can decide to invest but education is important for you first.

Education can provide individuals with important skills and knowledge that can help them achieve their goals and improve their lives. While it's true that there may be age limits for certain degrees, there are still many opportunities for learning and skill-building throughout one's life.

[diminizio]

don't force it. investing here is not in a hurry if you are still following other people's words how can you invest where your confidence in your investment is tested when bad news and negative market trends take place. and how do you control your emotions when the coin you hold is rising, do you want to sell it according to the target or keep holding it until you don't know how high it is because of greed.

[asyakashi]

no need to rush for you want to invest here. Try asking yourself again, are you also ready for the losses and how far are you ready to make and lose, how far is your theory in project analysis. my friend even took a year to understand candle patterns and indicators to really get into trading here. This is a true story not to scare.

[Betwrong]

I wouldn't blame them if they were people of low income.

Most people here have a low income.
To get a start up Capital you can even get a a smallish budget if going hungry now and then. What do you need 15 pairs of low quality shoes for?
That is the art of saving, saving for a purpose.

I agree. It's better to have 2 pairs of high quality shoes instead. This also applies to many other things: clothes, food, utensils, various tools. That's how we lose money, we buy stuff that we don't need or of low quality. We are left with nothing to save because of that.