Untouchable Savings: Do you have it?

[xSkylarx]

You can try to spend less all the time while the future is uncertain. But it wouldn't be right to make the money you save to be untouchable. One that you can do is sell your watch and jewelry to a pawnshop or to your rich friend as your last resort.

It's not good to hide your fiat money these days because inflation will eat up its purchasing power which in the end, you won't be able to buy anything out of it. If there is anything that you could make untouchable savings, its BTC in your private wallet.

Saving does not necessarily mean that you have to save to make it untouchable in the future, instead save so you can have something to spend in the future. And I think a lot are doing this, even preparing theirselves so they won’t have to experience financial problems in the future. However, if you only save to make it untouchable for the rest of your life, that is an absurd mindset, you can’t bring money when you are already in your grave so save now and benefit in it in the future.

There is no point in saving if you don't spend it when an emergency arises; it is like you are just saving it for collection. I haven't encountered people who have been saving money and don't touch it. Most of us have goals like holding bitcoin and not touching it for 2 years or more, or if you have an emergency because that's the purpose of it, having something to spend when it's winter rather than having a loan or being in debt.

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[slapper]

You can try to spend less all the time while the future is uncertain. But it wouldn't be right to make the money you save to be untouchable. One that you can do is sell your watch and jewelry to a pawnshop or to your rich friend as your last resort.

It's not good to hide your fiat money these days because inflation will eat up its purchasing power which in the end, you won't be able to buy anything out of it. If there is anything that you could make untouchable savings, its BTC in your private wallet.

Saving does not necessarily mean that you have to save to make it untouchable in the future, instead save so you can have something to spend in the future. And I think a lot are doing this, even preparing theirselves so they won’t have to experience financial problems in the future. However, if you only save to make it untouchable for the rest of your life, that is an absurd mindset, you can’t bring money when you are already in your grave so save now and benefit in it in the future.

There is no point in saving if you don't spend it when an emergency arises; it is like you are just saving it for collection. I haven't encountered people who have been saving money and don't touch it. Most of us have goals like holding bitcoin and not touching it for 2 years or more, or if you have an emergency because that's the purpose of it, having something to spend when it's winter rather than having a loan or being in debt.

While I completely comprehend the essence of your statement, allow me to offer a contradictory perspective. Isn't it somewhat ironic that we devote ourselves to amassing wealth only to fret over using it when it is most needed? It's akin to hoarding the finest delicacies in your pantry, never to indulge in them out of fear that they will be exhausted. Granted, establishing a fiscal cushion is essential, but we must not disregard the significance of savoring the results of our toil intermittently. Life is fleeting, and we never know what obstacles may come our way. Therefore, I recommend living lavishly while being cautious with expenditures!

[rat03gopoh]

If insurance can be classified on untouchable savings, then yeah I have that, health insurance to be more precise. That can't be spent on other emergency needs right?

One should not place too much worry on anything far away, limit it to today and the next few days. The economy will always be a matter of life at every level, people have their own problems, and in fact they'll find solutions slowly when adapting to them. That doesn't mean you don't have a financial plan either.

[Dave1]

If insurance can be classified on untouchable savings, then yeah I have that, health insurance to be more precise. That can't be spent on other emergency needs right?

One should not place too much worry on anything far away, limit it to today and the next few days. The economy will always be a matter of life at every level, people have their own problems, and in fact they'll find solutions slowly when adapting to them. That doesn't mean you don't have a financial plan either.

Yeah, I don't think that count as a untouchable savings as for me it's some money, a buffer that you have in your wallet that you can tap immediately if there is some emergency in your end.

And this bucket should be at least 6 months or so, and that in cases of some extremes happen in your life, you can still sustain it without having to go through a lot of and you still have some money to bring food in the table for your family.

[lienfaye]

My story is rather uninteresting, but let me know yours. Does this idea also apply to you? You could have the money to buy a new car to replace your old and broken one but you prefer not to touch it. Do you hold yourself from spending what you have to the point of depriving yourself of what you deserve? Do you keep significant savings for occasions that might only happen in your imagination? Or at what point would you allow yourself to be drained of your last penny?

Well, I can relate to what you're saying here because I also experienced to not spend my money just because I want to save. Currently I have savings but I can't say it is untouchable because that's what I can count on incase emergency happened. Currently I deprive myself to buy a new phone even the one that i'm using already need a replacement. But because it is still working, I opted not to buy a new one until it is completely broken. I don't want to spend if it's not really necessary especially if you already have your own family. I want to save for rainy days since we're not certain how long we can able to work to provide for our family's needs.

Anyway, there are people who have untouchable savings that they can pass on to their next generation, and they're the well-off.

[Sterbens]

There is no point in saving if you don't spend it when an emergency arises; it is like you are just saving it for collection. I haven't encountered people who have been saving money and don't touch it. Most of us have goals like holding bitcoin and not touching it for 2 years or more, or if you have an emergency because that's the purpose of it, having something to spend when it's winter rather than having a loan or being in debt.

Yes, that shouldn't have happened, I mean we have savings that we have prepared for a very urgent situation, and when that situation comes and we don't even touch it at all and prefer to borrow, that's not wise in my opinion. So what will we use the money we have set aside for? I mean what kind of urgent need to be able to use the savings. Maybe when we think very dearly when using our savings, I also often experience this because it is a form of sacrifice for us to always set aside money for emergencies that we might experience.

[Dr.Bitcoin_Strange]

I remember a funny statement my friend will always make some years back. He will say, "Between me and my savings, I don't know who is saving who." Why? Why? Because he tried so hard to save, he ends up using the little he saves, and he even confesses that he doesn't remember he is using his savings until he has spent the money on something before he realized he has done so. But I understand one thing about his savings habit: you can be disciplined in times of savings, but definitely you will have some pressing needs that will require you to spend the savings, unless for sure that person has a steady source of income. I saved through some of my college years; even in my university days, I tried so hard to save, but I only saved to the extent that there was still a pressing need to spend the savings. All I ended up saying to myself was, I will replace the savings when I have extra cash," but that never happened.

[Uruhara]

If insurance can be classified on untouchable savings, then yeah I have that, health insurance to be more precise. That can't be spent on other emergency needs right?

One should not place too much worry on anything far away, limit it to today and the next few days. The economy will always be a matter of life at every level, people have their own problems, and in fact they'll find solutions slowly when adapting to them. That doesn't mean you don't have a financial plan either.

Correct. If we want to enjoy life then what you say is right. because if we think too much then our life sometimes becomes so heavy and sometimes excessive fear becomes present in our life. but I personally always take the time to plan for the long term. and after that i just executed what was planned. although sometimes unexpected things arise. but during our daily activities we really only have to focus on what was done that day. and after finishing work then we start planning for tomorrow.

but in finance we still have to plan for the future. but too focused on the future without enjoying the day being lived is the wrong thing to do. because we live to be happy. so being happy every day is a good thing. although it should be within healthy limits.

[Ryker1]

Having a plan can help you prepare for unexpected expenses and achieve your long-term financial goals.
Keep always in mind that saving money is an important aspect of financial planning and can provide a safety net for unexpected expenses and emergencies. It is also possible to find a balance between saving for the future and enjoying the present. It is true that some people may be overly frugal or stingy --but it is also possible for people to save money while still being generous and living a fulfilling life. It is up to each individual to determine their own approach to money management and find a balance that works for them. So for me, it is ideal to have money left for future emergencies.

[Cryptock]

Having a plan can help you prepare for unexpected expenses and achieve your long-term financial goals.
Keep always in mind that saving money is an important aspect of financial planning and can provide a safety net for unexpected expenses and emergencies. It is also possible to find a balance between saving for the future and enjoying the present. It is true that some people may be overly frugal or stingy --but it is also possible for people to save money while still being generous and living a fulfilling life. It is up to each individual to determine their own approach to money management and find a balance that works for them. So for me, it is ideal to have money left for future emergencies.

I was never good with my finances
And I a very upset for all that I did to myself.
I wish I would have had some saving - but now I tried to save little.

[so98nn]

That’s crazy tweet but it has got millions of hearts already. I mean it’s such true fact that if you hold on to something too much but do not avail the benefits at the right time then it’s next to nothing in the future. It’s always better to have secured future but not over the heads so as to go useless about it. I’m having savings mostly in the investment funds. SIP and stuff.

Having a plan can help you prepare for unexpected expenses and achieve your long-term financial goals.
Keep always in mind that saving money is an important aspect of financial planning and can provide a safety net for unexpected expenses and emergencies. It is also possible to find a balance between saving for the future and enjoying the present. It is true that some people may be overly frugal or stingy --but it is also possible for people to save money while still being generous and living a fulfilling life. It is up to each individual to determine their own approach to money management and find a balance that works for them. So for me, it is ideal to have money left for future emergencies.

I was never good with my finances
And I a very upset for all that I did to myself.
I wish I would have had some saving - but now I tried to save little.

Well everyone say they have perfect plans but no one really does in the reality. There could be horrible incidences in our lives or there could be occasions, surprises where we can not argue but to spend our money without any reasons. That way sometimes we may end up with no savings at all. Once can always plan automated payments to schemes, or may be investments into real estate etc. That could be best way to have untouchable savings.

[Wong Gendheng]

This is the same and often happens in my country, many rich people but choose to eat cheap and limit consumption from good things because they think as wasteful, they finally die and the property left behind is only captured by the heirs and of course they regret because they do not enjoy the wealth of work Hard as healthy, live and young.