Try to save money while you still can, will you ?

[FireDAOJackie_Z]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

[cabron]

Wasn't there a separation pay for those workers who worked for a decade in a company?
If he did receive a sum, he needs to start a small business to survive in the real world. A little cooking skill just cooking street food may just be his savior. Your friend will survive. He'd be lucky if he isn't a father yet in this ridiculously made up crisis time.

I have seen this happening when my brother lost his job as well with 2 kids still and a mortgage to pay, it's a pain for a father to see themselves this low because he is unprepared for what's to come. If he had just saved something, maybe he wouldn't have had to ask for a loan to start a small business.

[Tellek Garing]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

It is my conviction that life operates in cycles, and as such, we cannot expect things to remain in a constant state of abundance.

The adage from "The Richest Man in Babylon" rings true: "If you cannot save money, the seed of greatness is not in you." Therefore, it is wise to exercise prudence in managing one's finances and to save during times of prosperity.This practice can serve as a lifeline during times of financial hardship when one's sources of income may become limited or depleted.

In essence, by cultivating a habit of saving, one can fortify their financial stability and prepare for unforeseen circumstances.

[mk4]

Saving money should be done by default, not only when financial/economic problems arise.

Don't solely stick with saving money though; attempt to increase your income by having side jobs/businesses/gigs. Growth from employee wages take a crap ton of time and effort for it to increase.

[Ultegra134]

Saving money should be done by default, not only when financial/economic problems arise.

Don't solely stick with saving money though; attempt to increase your income by having side jobs/businesses/gigs. Growth from employee wages take a crap ton of time and effort for it to increase.

Exactly. You should have at least half a year's worth of salaries for emergencies, not to mention a whole year to be on the safe side. Saving is vital if you wish to have purchasing power at any moment and have money set aside for emergency purposes. Thus, it's important to have various sources of income, which could be a side job as little as being paid by signature campaigns; that way, you'll still have a flow of money supposing you lose your job, like the OP mentioned about his acquaintance, which will provide you with some peace of mind till you can find something else.

[Xcode7]

yes, of course it has to be done, but not everyone is able to do it by managing money well, so some are set aside for future savings.
when you currently have a large income or more than the necessities of life, of course everyone wants to save or invest, that's good, but not everything can go as it should, for example, suddenly you want to take a vacation, so it drains a lot of savings or losses for people who choose to invest .

for an unpredictable future I prefer to make a business even on a small scale but be able to provide income with fast turnover, that's better I think even though all risks are possible to happen but at least without having to take time myself but still can make money even if it's small.

[Pokapoka124]

The layoffs this year has been crazy. The world wasn’t prepared for this, hundreds of people have been laid off in the tech industry only this first quarter of the year. They say it’s an after effect of Covid, who knows, maybe these companies are planning on replacing human workforce with AI.  
Learning a skill now will be difficult without a means to support himself and family. Doesn’t your friend has savings? It’s fishy living on one source of income. There are side-hustles and investments he could try like investing in real estate, airbnbs, vending machine business. If I were in your friend’s shoes, I would start mass applying for jobs and update my resume to meet criteria of the role. The last thing you want to do after being laid off is take a break.

[Uruhara]

At least from the story that the OP told, we can take a lesson, namely that we really have to prepare ourselves from an early age. like saving while we are still working and have income. And not only saving but we also have to set aside money to invest in our future. and don't forget to prepare an emergency fund too early on. but about the friend that OP told me about, I hope he will be given severance pay from his original company. and your friends can use the severance pay as capital to start a small business or to look for another job. because the current conditions force us to be able to continue to make money to survive.

[Gayong88]

The first and foremost step towards surviving a tough economic condition is to avoid becoming panic stricken. Keep yourself calm and do not wait for the worst to happen. Also, keep a tab on your monthly expenses, as mostly at times things get difficult when we do not have a proper insight into what we are spending money on.

Dude, he's not alone. there are still a great many people who are in the position of losing their job, who do not have the skills and other abilities to be able to find another job quickly. My suggestion is this help your friend to gain new skills, learning something new can give him a chance to get back his roots or his job after this financial crisis.

[Marvell1]

Don't wait for inflation to happen to save, but save every day, every month, every year... save not only to deal with inflation but also to prevent emergencies. But saving will not help you have a better life in the future when inflation is higher. In addition to saving, you need investments to increase wealth, investing is the best way to fight inflation.

Tell your friend not to get discouraged but to find another job because if he hesitates, it will only make his financial situation worse. When one door closes, another door opens.

[kryptocanon]

Nobody actually gets rich with a salary alone. Someone should steadily imbibe the spirit of diversifying earnings into a different segment of investment for days like this. If truly your friend doesn't have something he can fall back on after working a decade for a company, then I assume he's not just investment-wise.

[xSkylarx]

You are a good friend since you are still there for him even in bad times! Try to help him as much as possible since he really needs it. I've experienced this before twice, and those real friends of mine are helping me a lot. There are no solutions for him. He needs to find work so that he can support his family. For sure, doors will open for him if he just keeps looking. Also, that is the greatest lesson in my life: we should save in case of emergency, like those ones that will last you six months even if you don't work. I'm starting to save right now, but I also make investments from time to time to secure my future and that of my family. 

[bitzizzix]

This is a must because we never know the job we will have in the next few years, so it must be planned while we still have work.
And as much as possible have savings and investments that don't depend on work income, and have to have side income in any way to get extra income, and this is what I'm afraid of when I lose my job.
and for now I'm trying my best to set aside a portion of all my income for savings and also a little for investment, and I'm grateful to be in this forum because apart from getting a salary from my job, I also get additional income here which I use very well for savings and also for investment and that's all for the future and also for backup when I'm no longer working.

and the story that OP mentioned, many people have experienced it and experienced life changes while still working and also when they have stopped, so it is very important to contemplate and also plan because we will never know our fate in the future.

[Godday]

Previously may I ask you that what country are you from?  If you say that the inflation in your country put you in an extreme economic situation then I think the challenge you have to face is how to survive with minimum cost.  Maybe we can't talk about investing in stocks or cryptocurrencies because in such difficult economic circumstances we have to fulfill our primary needs first.

[Dickiy]

Did your friend not get severance pay when he was kicked out of the company? I think that money is enough to survive until he finds another income.
Unexpected funds must be prepared properly not only at a time when you are feeling difficult, now you have an awareness of this (learning from seeing other people) that is a good thing, but you also have to pay attention to the many sectors that must be fulfilled to deal with these difficulties, such as in the need for health insurance, food, and other needs, you must classify it to be safer so that the budget you make meets your needs too.
I myself have that. I deliberately classify funds for things that are unexpected for me to be calmer and so that there is no accumulation in one container.

[FireDAOJackie_Z]

Did your friend not get severance pay when he was kicked out of the company? I think that money is enough to survive until he finds another income.
Unexpected funds must be prepared properly not only at a time when you are feeling difficult, now you have an awareness of this (learning from seeing other people) that is a good thing, but you also have to pay attention to the many sectors that must be fulfilled to deal with these difficulties, such as in the need for health insurance, food, and other needs, you must classify it to be safer so that the budget you make meets your needs too.
I myself have that. I deliberately classify funds for things that are unexpected for me to be calmer and so that there is no accumulation in one container.

Sadly there are few companies in my country that offer severance pay. My friend is definitely not entitled to that benefit, even for working for so long. Having no savings makes his financial condition even worse. Now he has to provide for his wife and daughter, sometimes his parents included. How can he survive without income for long ? I am trying my best to help him find a job and also lend him some money to get through the tough time.

[MiF]

Many people wanted to save money but it is really hard, in my country the minimum wage is very small and it is really hard to budget specially when the basic needs price rises so there's nothing left to save and most of them take a loan because the salary is not enough, so i think saving is for the people who has above minimum wage and for rich people. Saving is good but not all people can easily do saving.

[lovesmayfamilis]

It is quite risky in our time to live one day, according to the principle earned, spent. It is necessary to save for unforeseen expenses from the moment a person receives his first salary. There is a good percentage scheme for how to become wealthy by saving only five percent of your salary once a month. And with the advent of bitcoin, this scheme becomes an even more profitable option.
Your friend, who worked for 10 years, must have received similar signals of instability several times during his work. There is simply no stability at such a time, and the fact that he did not save money for a “rainy” day shows that he is not a very wise person. I would like to believe that he is still young and has gained good experience in order to be more prudent in the future.

[topbitcoin]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If me i will focus on saving money because inflation is something that can affect on a lot of people include us. And we can't rely on other people beside ourself. And i know you are a good friend, but just make sure you create border until where you want to help your friend with his life.

[Rruchi man]

Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family.

Always remember that there is no Job security, it is why you must and make good use of any opportunity you have to gather and save up money in investments and assets. You have learnt from your friends experience @OP, prepare and plan for the rainy days because the rainy days will always come. It sounds really sad when you think about it but when things are going merry, never forget to plan for the days that things appear thick. That is is the circle of life, the difficult situations help you appreciate the good times. Your friends life has not ended until he decides he wants to quit, people have been in his similar situation and even worse and are doing better today still, he just has to get himself together and plan well with his wife.

He can take loan from close friends and family to start up something if possible, that is if there is already a plan to start one but money has been a hindrance.

He can also declutter and sell off somethings that his family can do without for the time being to raise money, these are just a few options.

[CODE200]

Don't wait for inflation to happen to save, but save every day, every month, every year... save not only to deal with inflation but also to prevent emergencies. But saving will not help you have a better life in the future when inflation is higher. In addition to saving, you need investments to increase wealth, investing is the best way to fight inflation.

Tell your friend not to get discouraged but to find another job because if he hesitates, it will only make his financial situation worse. When one door closes, another door opens.

Exactly, saving is not situational. For me, it is a must for our own good as well. You will save not only for yourself but for the people that you love if you don't want to be surprised when an emergency comes into your life. It's still better to start saving day by day, even in a small amount, as long as you keep doing it everyday, it will be fruitful in the end. Investment is a good one also. Try to look for investment that is not only for the short term but for the long term that will give benefits to you.
Go and encourage your friend to not easily give up. Not all your plans will happen the way you think they are. Just look what happened to him. He didn't expect inflation would come to the point that it could affect his work. He became complacent about what he had. Go look for a job. There are lots of jobs out there. He just has to move forward to look for it as it will not come easily if he doesn't do anything.

[ringgo96]

when our work is still running smoothly then that's when we must be ready to make a savings for the future, because there is a time when we will part with the work we are currently living, as happened to your friend then now he should be able to open a new business with savings that have been saved for a decade, if he doesn't have savings then he is currently going through a difficult time if hoping for help from others is certainly very difficult, so as you said earlier we have to be good at saving money while still can.

[19Nov16]

Saving is an important thing to make us survive, especially now that almost everything has to be exchanged for money so without saving it will be difficult for us, of course if we have big money then don't keep everything in the bank, using 30% for investment is the right thing to do the good thing, and the current trend that is profitable is investing in bitcoin or altcoins.

[Smack That Ace]

Did your friend not get severance pay when he was kicked out of the company? I think that money is enough to survive until he finds another income.
Unexpected funds must be prepared properly not only at a time when you are feeling difficult, now you have an awareness of this (learning from seeing other people) that is a good thing, but you also have to pay attention to the many sectors that must be fulfilled to deal with these difficulties, such as in the need for health insurance, food, and other needs, you must classify it to be safer so that the budget you make meets your needs too.
I myself have that. I deliberately classify funds for things that are unexpected for me to be calmer and so that there is no accumulation in one container.

Sadly there are few companies in my country that offer severance pay. My friend is definitely not entitled to that benefit, even for working for so long. Having no savings makes his financial condition even worse. Now he has to provide for his wife and daughter, sometimes his parents included. How can he survive without income for long ? I am trying my best to help him find a job and also lend him some money to get through the tough time.

He has no choice but to find a new job and do more than others if he wants to survive. But find him a job with full severance pay, I'm really bewildered when a person works so long without receiving unemployment benefits. It sounds strange since it's not a small amount.

It's a good thing to lend him money, but don't lend him too much. I mean, I'm not afraid he won't pay, but when he has a lot of money, I'm worried he won't get a job soon.

[Queentoshi]

when our work is still running smoothly then that's when we must be ready to make a savings for the future, because there is a time when we will part with the work we are currently living, as happened to your friend then now he should be able to open a new business with savings that have been saved for a decade, if he doesn't have savings then he is currently going through a difficult time if hoping for help from others is certainly very difficult, so as you said earlier we have to be good at saving money while still can.

The major road to success is knowing how to save, avoid unnecessary spending, saving is not that easy it involves, self control and being discipline,  most people today forget to save and once anything happen to there job they go broke over night, save why you can and not just saving, but save to invest for future sake, because you can't work forever, there will always come a time that you can work anymore, at that point in time your investment will be where you can be relying on to survive and take there of your expenses.

[Solosanz]

If you're want to help him then you can, but personally I wouldn't always help him because he will be depends on me about financial and not want to get a job since he can easily ask me for money. Everyone should save their money because you wouldn't know what will happen to you in the future, just like your friends. Even you're already become an employee, there's no guarantee the company will survive forever.

[ethereumhunter]

It also happens in other countries, including mine. The cost of living is increasing and affecting the prices in the shops, so we have to spend more money than before.

If I were him, I would still try to work and be able to make money, somehow and I'm sure I can get some money to take home with me. Many people have experienced something like that and as I said, people still work hard to make money.

And I agree with your idea of saving more money to prepare for the unexpected challenges ahead. And I've been doing it for a few years and with the help of crypto, I'm still saving in crypto/bitcoin.

[dimonstration]

If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Find a new job abroad if there’s no job vacancy in your country. Having a 10 years experience will easily gave him a golden ticket for a job opportunity abroad that still looking for workers like Canada, Singapore and Australia. Also since he get fired, He will surely get a separation fee that he can use to start business or for requirements for a new job.

This is the common mistake of people that prisoner of employment. They become attach to the current job which result to unpreparedness for jobless. If I’m in his position, I’m probably on the competitor company applying on the same job that I’m doing the moment my company close.

[TribalBob]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

actually saving has been taught since we were small, the purpose of saving is to cover the cost of living which has become a minus because of one thing, yes, like current inflation, saving in small amounts or as much as we can, don't force it to reduce our daily food allowance just because we want to save money

[serveria.com]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Saving is always a good idea as life is unpredictable: you can lose your job or your business (even if you're really well-off). As to your friend's situation, I'm not sure if he's got any savings or not, and if yes, how big? Starting his own business is one opportunity, but he'd need some money for initial investment. I realize that not everyone is meant to be an entrepreneur, so he can just apply for similar jobs near him and meanwhile do some of those side hustles so popular now (Uber driver, food delivery etc).

[AnonBitCoiner]

n some countries there is a retirement money given to the retired person if he work for more than ten years so he can easily manage the risk if suddenly arises due to any reason. But If your friend did not get it so may be he is not in such country or may be his service is not so long.

In this circumstances I will recommended that a person should save a small portion of money on monthly basis in his salary if unfortunately such conditions arises so there will be opportunity to start another small business on this sum of money.

It's true that future is unpredictable but person should remember that anything can happen anytime in life so we all should be prepared for that situations if we faces such situations suddenly then what will we do? We cannot do anything without money so saving is important, I don't say that save overall sum but little bit amount should be save for future goals.

[alastantiger]

Preparing for the future as a man is one of the best plan you can think of. Someone who is earning a daily, weekly or monthly salary should have it in mind to save for the future because anything can happen at any point in time. To avoid being stranded you need to save. And one of the best way to secure your future is by investing. Bitcoin investment is one good way of preparing for the future. Some people may want to buy shares in bank, some would want to just save it in bank, while some will invest while they are still earning salary. To me, i will rather invest in bitcoin because in years to come, the profit will be massive.
There is an adage that says "Make hays while sun shine". Anyone who fails to plan his or her future is automatically planning to fail. I will and am already saving for the future by investing a portion of my earnings in bitcoin.
I would advice that anybody that has the opportunity to save either by investing should not hesitate.

[fadhilz123]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

I also save for myself and also for the survival of my family in this very difficult time, because there really is no other choice but to continue working and earn income which I then set aside a little to save in preparation for facing difficult times. Because someone who doesn't work in conditions like today will be very complicated to live his life, so if you want to help your friend to get out of the difficulties he is facing now, try to give him a more decent job so he can live with enthusiasm like before Again.

[Bestdss]

Saving money should be an integral part of everyone. Saving helps alot and people needs discipline to be able to save money. No matter how small you make from business or job, you should be able to reserve a little. Many people find it difficult to save because they don't have saving patterns, you can decide to save with co-operative institutions, banks, social clubs or any financial institutions paying the agreed amount of ur savings either weekly, monthly or daily to be accumulated for a period of time, that way when it's time to take back your savings, you can use it to achieve something tangible.

[Bollexz1]

Quite sorry for your friend but how can an employee work for a decade and not have a proper way of money management? From my philosophy, savings only won't help in this era we live in but rather having the mind to invest.

[tjtonmoy]

It is always a good decision to save for your future. No one knows what to come in the future, and a situation like this could come at any moment. So we need to prepare ourselves. Make a plan and stick to it no matter what. This should do just fine as we are going to be prepared if anything bad ever happens.
For me, I try to save just what I think I need for my future. Not much, not less. That way I can live my daily life in peace and also won't have to worry about the future either.

[molsewid]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Hmm i think in a country like what we have saving money is not enough, everyone should learn to increase their savings by investment or businesses, but the thing is financial literacy in here is not well practiced. Inflation is hitting us each day given that recession is not yet happen but still it is too painful to work with only 1 job now, me myself decrease my sleep so that I can still have part time job to do.

[isaac_clarke22]

~

For starters, I would immediately look for job obviously. That is where savings and/or our emergency funds come into place. Also consider filing for an unemployment since there are also unemployment benefits (depending on where he resides) and that might at least help him and his family.

For me, I would just keep on saving and just avoid spending on unnecessary stuff when I know that I am going to be lower than my tolerable saving amount. It is just a matter of having a peace of mind ya know and no, I am not going to sign up for credit cards for my wants.

[Zlantann]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

I have been on a job that the monthly pay hardly covers my two weeks expenses. The salary was too poor that I have to buy things on credit to survive. In this my situation, my sole aim for the month is not to save but to survive. I don't expect everybody to have savings because our incomes are different and we live in different parts of the world. In an ideal situation your friend was suppose to be given a lump sum of money by the company to enable him start something profitable. But in most countries employers can sack their staff without notice or compensation.

Planning and saving for the future is very important. But people prefer to use their money for luxuries instead of savings. Some of them prefer to pay high house rent in highbrow areas instead of buying a cheaper one in the outskirt of the city. Some also prefer to send their children to very expensive schools, instead of moderate schools that will help them save for the future. No matter how small, it is important to set aside funds maybe weekly or monthly for the future.

[Mate2237]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If the inflation in your country is not high then the country's economy would have been normal. Every country is control by the national resources and national resources are from the national economy, so why things are still difficult for the citizens. If the price of goods and services are in the increasing side then the inflation in the country is also very high. The inflation of a country determine the prices of things.

If your friend lost his job because of the inflation then the government policy is the one affecting the various sectors of the Economy. But that will also depends on the sector. It is a private or public sector? Or the both as PPP. Public Private Partnership?

[tabas]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

I'll take a rest, mentally, he needs to take that moment for him to at least charge before he proceeds in finding in a new job. Yeah, it's tough at these times and things have became more expensive and harder. It's sad to see that these lay offs happen and there's nothing a normal employee can do. And by the time that he gets employed, that should be the time that he start saving and if he can make a side hustle which he can pursue whenever he gets laid off again then it won't be painful to him because he knows that he's got a backup, not just a savings but also investments and businesses as much as possible.

[Issa56]

Immediately you secure a job, I believe we should start saving money immediately, I don't really know for other countries, but in my country company job is not really a reliable job, anything can happen at any time so you should be ready for anything at any moment, you might get a job and after one month you might be sacked. You should start saving after you have been employed then start up a business later, incase if anything happens, then you will have back up.

[teosanru]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

I think it's really sad. We all have our commitments each month in form of some or the other EMIs and other expenses so losing a job is obviously a life altering event. It obviously is difficult to find another job and on top of that extremely difficult to find one with almost similar payscale. This always reminds me of the fact that how one should always keep more than one sources of income for them and shouldn't rely merely on their jobs for providing finances.

[ancafe]

As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

As a friend, encouraging him is an obligation, but there is no other way for your friend than to work hard elsewhere even though the job is not permanent. It is necessary to maintain cash flow when our financial condition is not too bad, investing and saving are not only done during normal conditions, but as much as possible these two things are done regularly even in small amounts.

Imagine that this condition happened to us, without even preparing any savings when we lose our job, then something difficult will put us in a worse condition. Preparing savings when we have a job is an obligation, while investing is an ability if someone is able to balance between income and expenses, normal life needs to be prepared because it will not come by itself and no one can predict how our future will be

[erep]

Immediately you secure a job, I believe we should start saving money immediately, I don't really know for other countries, but in my country company job is not really a reliable job, anything can happen at any time so you should be ready for anything at any moment, you might get a job and after one month you might be sacked. You should start saving after you have been employed then start up a business later, incase if anything happens, then you will have back up.

You have to save since you get income from your job even though your salary is low, you don't have to wait until you have a business so you just save but there's no guarantee we can become a successful businessman, so take advantage of the time you have to work extra to get other income to be able to save for future needs.

[livingfree]

You have to save since you get income from your job even though your salary is low, you don't have to wait until you have a business so you just save but there's no guarantee we can become a successful businessman, so take advantage of the time you have to work extra to get other income to be able to save for future needs.

There are folks for business and there are those that are for employment and there goes the folks that are both of them.

I agree to you that even if the salary is low, it's not about the amount that you can save but it's the practice that you're building up and discipline of saving.

Because while your salary is low and you're not saving, how much more if you're earning well already and that will boost your spending habits because you've got more money then?

While you're employed or while your business is thriving, always save for the rainy days as they say.

[stomachgrowls]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

This is one of the risks when you are really that having that dayjob on which you do really believe that it would really last out for a lifetime which its never been a guarantee to be on that way.This is why its really always

been that recommended that you should really be minding on having a savings or making out some investment as much as you could because you dont know on what the things that would happen on tommorow.
Whether you would be still having the job or not.Just like on what happened into your friend into other people as well on similar conditions then you would be finding yourself that get fucked up
on the time that the work you are depending on would be gone.

This is why savings is really a crucial thing to be have and just dont make yourself spending all of those money on monthly basis without having those emergency allocations.

[BRINIRHA]

It is very important for us to understand and apply proper financial management. and this must be done with careful planning. adjusting the income and expenses that we have so that we can keep saving and investing and also prepare a reserve fund for unexpected things.

while we still have income then we are obliged to always set aside money for future plans. don't make every salary you receive always run out every month. because the current uncertain economic situation is indeed very dire. so we must always be ready with all possibilities.

[serjent05]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

In a high-inflation environment, I think it isn't wise to save in form of money since the value of money will depreciate as time goes by.  I think if you have money it is better be stored in a stable asset that does not depreciate as fast as money.  I wouldn't advise keeping it in cryptocurrency because of the possibility of the time when you need the fund, your crypto is in a bear market and is 99% less in value.  Bitcoin can be an option but still, it is highly volatile unless you start saving during the Bitcoin bear market.

[trendcoin]

Unfortunately, since the world is moving towards a multipolar axis, the balances on the global scale are changing and this situation is reflected to us as an economic difficulty. I don't think anything will be better. That's why I've been trying to save money for a long time. So, I've been in this mode for a long time...

However, saving money is actually a very good thing, because the formation of capital is not possible otherwise. We can use the money we save as capital in a new business, or it can provide us with a quality retirement life. Saving money and protecting it from inflation is an absolute benefit to us...

[Fatunad]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

In a high-inflation environment, I think it isn't wise to save in form of money since the value of money will depreciate as time goes by.  I think if you have money it is better be stored in a stable asset that does not depreciate as fast as money.  I wouldn't advise keeping it in cryptocurrency because of the possibility of the time when you need the fund, your crypto is in a bear market and is 99% less in value.  Bitcoin can be an option but still, it is highly volatile unless you start saving during the Bitcoin bear market.

Save 50% in cash form and Invest 50% on multiple investment which you should really that diversify as much as you can.Its true that inflation is inevitable and this is why you should really be wise on where you should be putting up your focus on making out investment which isnt really that much be touched up with inflation which is through investment which could give out multiple source of income.
On the time where shit happens then you would be able to make yourself sustain and survive even if you dont have the work and this is why its really that relevant that you should
really save up yourself for those unexpected events.

[Fivestar4everMVP]

There is a wise saying that we save money, so that money can save us later.
First, it's a shameful thing to work in a company for decades without brig able to save a dime, it's really not a good way to live our lives, even a bachelor needs to have savings, before we begin talking of family men and women.

It is important to save, no matter how small our earning is, is better to save small, than not having a saving at all.

[andriarto]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

In a high-inflation environment, I think it isn't wise to save in form of money since the value of money will depreciate as time goes by.  I think if you have money it is better be stored in a stable asset that does not depreciate as fast as money.  I wouldn't advise keeping it in cryptocurrency because of the possibility of the time when you need the fund, your crypto is in a bear market and is 99% less in value.  Bitcoin can be an option but still, it is highly volatile unless you start saving during the Bitcoin bear market.

when it's difficult like that to save in cryptocurrency the main thing is you have to have good knowledge, considering the high fluctuations. I think saving in gold can be an option at least the value is not eroded in inflation. Indeed, to anticipate unexpected things like yours, we must have a reserve fund, and that can be used when we are in trouble. therefore money management in the economy is important, instead of spending one month's salary in one month

[shinratensei_]

it's always good to have some money saved up when you are facing difficulties, at least it helps that's why I think it's always essential that someone when got money, not spending all of these even for something they considers important mainly because in the future it's almost certain that we gonna face difficulties related with money unless you're descendant of some billionaire, i'd say if you want to be sure about your life and don't want to face some kind of crisis then save up some money alongside growing your current income.
I think it should be common knowledge that if the inflation outweigh your salary you should be worried. because it means your purchasing power gonna get plummeting and eventually you're gonna be broke since lesser purchasing power means you gonna use up all your salary.

[Ryker1]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

That is wise to follow your example and start saving more money to prepare for unexpected challenges. Building up an emergency fund can provide a valuable safety net during tough times and help alleviate some of the stress and uncertainty that comes with financial instability.
In terms of survival, there are several steps your friend could take to help ease the financial burden. Firstly, he could look for new job opportunities or consider retraining in a new field if necessary. It may also be worth exploring options for government support or financial assistance programs that could provide some temporary relief.

[Fredomago]

You have to save since you get income from your job even though your salary is low, you don't have to wait until you have a business so you just save but there's no guarantee we can become a successful businessman, so take advantage of the time you have to work extra to get other income to be able to save for future needs.

There are folks for business and there are those that are for employment and there goes the folks that are both of them.

I agree to you that even if the salary is low, it's not about the amount that you can save but it's the practice that you're building up and discipline of saving.

Because while your salary is low and you're not saving, how much more if you're earning well already and that will boost your spending habits because you've got more money then?

While you're employed or while your business is thriving, always save for the rainy days as they say.

Yes indeed, if you can established a business while you have a day job you can save good amount, but in times like this where hardship due to inflations are really bringing tough days to our life, best to help by bringing ideas if he's no longer capable to go back to the same field then he needed to explore to other options and alternatives, it's a surviving era so better to find alternative options to continue and to support your family.

[Jody.Drummer]

There is a wise saying that we save money, so that money can save us later.
First, it's a shameful thing to work in a company for decades without brig able to save a dime, it's really not a good way to live our lives, even a bachelor needs to have savings, before we begin talking of family men and women.

It is important to save, no matter how small our earning is, is better to save small, than not having a saving at all.

Yes, you are right, if you look at the past I also feel ashamed where when I worked a few years ago I didn't have a penny saved, and when I quit the company I really didn't have anything. But I don't regret it, because I got a very valuable lesson from that experience. Yes now I live a better life again, I save, I invest too.
It's true what many people say, that experience will make us even better and I really feel it myself. Maybe it depends on the person too, because there are people who don't learn from experience, and I think that's really stupid.

[Uruhara]

Immediately you secure a job, I believe we should start saving money immediately, I don't really know for other countries, but in my country company job is not really a reliable job, anything can happen at any time so you should be ready for anything at any moment, you might get a job and after one month you might be sacked. You should start saving after you have been employed then start up a business later, incase if anything happens, then you will have back up.

if the situation is like that then I think we should always be prepared for things that may come unexpectedly. Apart from work, we also have to prepare money for our health. because even though we have a job in a company, if we are sick and don't come to work, of course the salary we receive will be less because it is deducted by sick leave. and even when we are sick we have to pay for medical treatment to the doctor.

 things like this should be thought about so that we can put more effort into managing our expenses. like only spending money on things we really need.

[Ngewex Yuk]

There is a wise saying that we save money, so that money can save us later.
First, it's a shameful thing to work in a company for decades without brig able to save a dime, it's really not a good way to live our lives, even a bachelor needs to have savings, before we begin talking of family men and women.

It is important to save, no matter how small our earning is, is better to save small, than not having a saving at all.

Yes, you are right, if you look at the past I also feel ashamed where when I worked a few years ago I didn't have a penny saved, and when I quit the company I really didn't have anything. But I don't regret it, because I got a very valuable lesson from that experience. Yes now I live a better life again, I save, I invest too.
It's true what many people say, that experience will make us even better and I really feel it myself. Maybe it depends on the person too, because there are people who don't learn from experience, and I think that's really stupid.

Sometimes we have to experience the bad things ourselves, of course we often hear about many things but as long as we have never experienced them, we will not learn or take lessons, the life experiences we have gone through become teachers for us to face the future, never be pessimistic about circumstances whatever, I also feel like quitting my job but I'll wait for the right time, right now I'm investing in bitcoin and altcoins which I hope can change my life for the better.

[FireDAOJackie_Z]

There is a wise saying that we save money, so that money can save us later.
First, it's a shameful thing to work in a company for decades without brig able to save a dime, it's really not a good way to live our lives, even a bachelor needs to have savings, before we begin talking of family men and women.

It is important to save, no matter how small our earning is, is better to save small, than not having a saving at all.

Yes, you are right, if you look at the past I also feel ashamed where when I worked a few years ago I didn't have a penny saved, and when I quit the company I really didn't have anything. But I don't regret it, because I got a very valuable lesson from that experience. Yes now I live a better life again, I save, I invest too.
It's true what many people say, that experience will make us even better and I really feel it myself. Maybe it depends on the person too, because there are people who don't learn from experience, and I think that's really stupid.

Sometimes we have to experience the bad things ourselves, of course we often hear about many things but as long as we have never experienced them, we will not learn or take lessons, the life experiences we have gone through become teachers for us to face the future, never be pessimistic about circumstances whatever, I also feel like quitting my job but I'll wait for the right time, right now I'm investing in bitcoin and altcoins which I hope can change my life for the better.

Life experiences are truly shaping who we are. I totally understand your feelings now as I have been there before. The only difference was that I quit my job at that time with no backup and I struggled for a long time to recover. You are wise to think about it twice and plan your future if you quit your current job. Bitcoin is a good option and will be more likely to profit in the long run. However, please don't get distracted by solely investing in Bitcoin because it will only act as a plus, not a focus. Focus on your main job and maximize the side hustle/source of income as much as you can.

[justdimin]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

actually saving has been taught since we were small, the purpose of saving is to cover the cost of living which has become a minus because of one thing, yes, like current inflation, saving in small amounts or as much as we can, don't force it to reduce our daily food allowance just because we want to save money

I think food is important if you are spending extra amount on food, I was a person like that, and I have overspent on food, because I like to eat in nice places and that is a problem of mine, I hate cooking, I literally hate it, I would rather starve and go to sleep hungry then cook, which is a big psychological issue I know, but that is why I ended up overspending on food. If that is the case, then I think it is important to cut back on food spending.

However, nobody should be starving to save some money of course, that part is true because that is a basic human need and even medical condition if you don't eat well enough when you are capable of doing it.

[speedy963]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

actually saving has been taught since we were small, the purpose of saving is to cover the cost of living which has become a minus because of one thing, yes, like current inflation, saving in small amounts or as much as we can, don't force it to reduce our daily food allowance just because we want to save money

I think food is important if you are spending extra amount on food, I was a person like that, and I have overspent on food, because I like to eat in nice places and that is a problem of mine, I hate cooking, I literally hate it, I would rather starve and go to sleep hungry then cook, which is a big psychological issue I know, but that is why I ended up overspending on food. If that is the case, then I think it is important to cut back on food spending.

However, nobody should be starving to save some money of course, that part is true because that is a basic human need and even medical condition if you don't eat well enough when you are capable of doing it.

That's the lifestyle you chose to pick, and it also your responsibility to sustain it. We cannot judge you or dictate what you chose as your means of living since you are the ones earning for your own keep. And yes! I also agree that no one should be starving just because you want to save money, and it may sound like a glutton to others but if you have the capability to get as much resources (money) to put food in the table then it's your job.
I remember a quote way back then saying, "Our job is not to judge people, Our job is to work to put food on the table". That's exactly how I see the situation right now.

Personally, I am the one always in charge in cooking, so I am a bit knowledgeable when it comes to family expenses regarding the ingredients and the food. In my country even if there's not that much inflation, I can still feel the changes/spikes on the food/ingredient prices. There have also been sudden spike of prices in all the basic needs and seasonings and mostly it would also affect the prices when you are out eating on the restaurant.

That alone is the reason why some of my friends are struggling to keep up with the prices, it's because some of them are also fired from a job in which they have been working in long time already, same with the OP. While most of my friends are working for just 2 years or more, that job already became their stable source of income, and now they have to go back to square one because of being jobless.

[livingfree]

There are folks for business and there are those that are for employment and there goes the folks that are both of them.

I agree to you that even if the salary is low, it's not about the amount that you can save but it's the practice that you're building up and discipline of saving.

Because while your salary is low and you're not saving, how much more if you're earning well already and that will boost your spending habits because you've got more money then?

While you're employed or while your business is thriving, always save for the rainy days as they say.

Yes indeed, if you can established a business while you have a day job you can save good amount, but in times like this where hardship due to inflations are really bringing tough days to our life, best to help by bringing ideas if he's no longer capable to go back to the same field then he needed to explore to other options and alternatives, it's a surviving era so better to find alternative options to continue and to support your family.

Actually, you need to double or triple your effort if you're an employee and at the same time you've got a business to manage. Those that becomes successful are the hard and smart workers.

They always make use of their time at the best although they don't forget to have a me-time and spends it with their family.

But their grit and grind is too much compared to those that are very relaxed while them, they're making sacrifices up to the point that they've got lesser sleeping hours and more waking up in the early for them to have a longer time for both things.

[Wong Gendheng]

Save money is an important thing that can make life better and easier, but we should not be complacent and only rely on saving because the value of our money will be reduced, of course the cost and inflation factor is the thing that can make our money continues to decline if we save at banks , the modern era like this is certainly better if we actively invest so that it makes our finances improve.

[tvplus006]

It should be taken into account the fact that approximately 15% of the population lives in conditions of "multidimensional poverty". And this mostly depends on the economic development of a particular country, in which this indicator reaches 95%. In such circumstances, all the tips for reducing their expenses cannot even be considered, since there is not enough money for the most necessary.

[naira]

As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Financial management is important, right? so that unexpected situations at least we have a choice to survive. Exiting a regular source of income that was not anticipated in the first place will result in your friend not being able to survive. Saving is done not only when realizing things like this, but must be done from the start.

What you do to help friends will definitely be very useful. But all it needs to do is teach him an important lesson about how difficult it is to survive without income.

[Cedie]

I think there are so many things we have no control over, such as inflation and the way the government will react to it, but we do have control over how hard we work, how much time we spend working on our business, how much risk we are willing to take, and who we listen to. Concentrate on what you can control rather than what you cannot. Easier said than done but all we have to do is to start. Do not just save money. If you can, invest it.

[nimogsm]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

You are doing the right thing by starting to save money there should always be savings for a force majeure event.You are great if you support your friend, this is a worthy deed.I had savings that helped me survive the events that began in my country and if not for them, my financial condition would have been much worse.

[KingsDen]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Ten years is such a big and huge amount of years to have worked in a company.
If your friend is dismissed after 10 years, he should only not have some savings. He should also have the Investment where he would eventually fall back in case of emergency.
How much was your friend paid and I don't want to believe that after 10 years, he did not have any other source of income. Why was your friend so reliant on a company that he has worked for over 5yrs to 10yrs?

The level of inflation is too high and I might not be a fan of saving but a fan of diversification and Investment because in savings, purchasing power reduces.

[DiMarxist]

As a worker you need to settled down and  think well before you spend your money, saving of money is good in the future,if you are working you need to save money because it's will help, you are receiving salary in months you spend 80%/70% of the salary and 30%/20% should be save, when you want to do something and you are waiting for your salary on the month ending and the thing is very urgent, you use your savings, or the company you are working collapse or they drop you out of work if you don't save money you go back to square one, to feed will be a problem. Then if  you save money, when you drop out of work or the company collapse you use the money that you save  to start up something to sustain or live life.Something like this happened to my aunt husband they drop him at work, he has seven children's,he became broke I mean totally broke no way to feed,and when he was working, every month he gives her money to buy food stuffs and  the money he gives to my aunt she will spent 90% of the money for food stuffs and saves 10% she keeps the 10% to start up small business.But when he drops out of work she brings out the monies she was saving, he surprised when he saw the monies she explain everything to him and he said you are a good woman they do small business to sustain until they called him back for work.

[LogitechMouse]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop.

All of the countries experienced it. Some experienced very low inflation, some are low, some are high, and some are extremely high. People are having a hard time budgeting their daily salary because of what happened around the world.

Cost of living around the world is increasing that's why having only one source of income or even 2 might not be even enough depending on where are you living. If you live in urban areas, you might be having a hard time budgeting because prices of commodities and necessities are more expensive than if you are living in rural areas where there is lesser expenses as well.

Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family.

This is the where the emergency funds comes in.

Does your friend don't have any emergency funds? Because if he only saved emergency funds then he will not experiencing what he is experiencing right now or at least in the next 3-6 months depending on how much did he saved. TBH, I don't know the reason why people don't have any emergency funds. Maybe one reason is their salary is just enough for their daily needs that's why they don't have enough money to save. Either way, not having an emergency funds will put you into trouble.

If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Your strategy is my strategy, and I'm pretty sure this pandemic served as a lesson for those who doesn't have any emergency funds to have one.

I hope that you're friend is fine, and help him as much as possible, but have a limit or else, you might find yourself having a hard time because of helping him. Saving money for at least 3-6 months just incase things like this will happen will save you. For sure, that's enough for a person to find a job that will support his needs unless he's lazy.

[Yatsan]

Saving is a good thing to learn, always. It will help you be prepared in the future, in general. But what makes this confusing to some is profit vs assurance of fund. Saving will allow you to be sustainbale with unexpected expenses but investment will give you profit over time, problem is the risk involved from doing so. Since investment has risks, it is not suitable for everyone. Likewise with saving wherein to some people they would prefer taking the risk than to jist rest their funds sleeping for years. We just have our own preferences on handling our money as in line with our intentions. And eitherway, or any way you would want to utilize your money.

[Renampun]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

if I were you then I would only help as much as I could, I also have a close friend who is experiencing economic difficulties because her husband was fired and he was the only one working, but I can only help her a little, like giving a little rice - sometimes oil or other basic needs. why don't I help my friend too much because I have my own life too and if she continues to receive help then she and her husband will not find a way out of the life problems they experience.

[_BlackStar]

That is why saving is an important variable in financial management. Regardless of whether you want to save for the short term or the long term, it is the most important thing to consider.

We never know when you will lose your job, how your and your family's health will be, and how you can achieve your many desires when you are not thrifty. Of course it's impossible to do all of that without problems if you don't have enough money saved, unless you are the heir to your parents' large fortune. So don't ignore the importance of having savings, they are definitely needed regardless of how the world's economy is currently. You have to realize what is the point of financial management while you are earning, so do it while you can and consider some investments.

[Jody.Drummer]

There is a wise saying that we save money, so that money can save us later.
First, it's a shameful thing to work in a company for decades without brig able to save a dime, it's really not a good way to live our lives, even a bachelor needs to have savings, before we begin talking of family men and women.

It is important to save, no matter how small our earning is, is better to save small, than not having a saving at all.

Yes, you are right, if you look at the past I also feel ashamed where when I worked a few years ago I didn't have a penny saved, and when I quit the company I really didn't have anything. But I don't regret it, because I got a very valuable lesson from that experience. Yes now I live a better life again, I save, I invest too.
It's true what many people say, that experience will make us even better and I really feel it myself. Maybe it depends on the person too, because there are people who don't learn from experience, and I think that's really stupid.

Sometimes we have to experience the bad things ourselves, of course we often hear about many things but as long as we have never experienced them, we will not learn or take lessons, the life experiences we have gone through become teachers for us to face the future, never be pessimistic about circumstances whatever, I also feel like quitting my job but I'll wait for the right time, right now I'm investing in bitcoin and altcoins which I hope can change my life for the better.

That's right, because indeed the saying about "experience is the best teacher" really happens and indeed we have to feel something like this so that we become strong even though we don't have to expect to fail but when we feel that at least we become more understanding that sometimes the expectations we have will not always go well for reality.
On the other hand, regretting things that are over also seems useless, so it's better for us to start again from the beginning with new enthusiasm and of course with the experiences we have experienced before to minimize the failures that have been experienced before so that we don't do that again.

[Flydolphine]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Well if I get you well.your friend work in a company for a decade and suddenly lost the job and his life is negatively affected.hmm..i guess he lacks good financial intelligence,management plan and prudence.this calls to mind the need for proper management of earnings through savings just in case financial emergency arises as in this pitiable case.one can avoid debts and loans if you are disciplined enough to start saving early.this ultimately will keep you off financial stress,cushion against sudden job loss and give you a firm sense of financial freedom.cultivate the habit of savings,you can fall back on it in situations like this until you pick up again.

[lixer]

There is a wise saying that we save money, so that money can save us later.
First, it's a shameful thing to work in a company for decades without brig able to save a dime, it's really not a good way to live our lives, even a bachelor needs to have savings, before we begin talking of family men and women.

It is important to save, no matter how small our earning is, is better to save small, than not having a saving at all.

Yes, you are right, if you look at the past I also feel ashamed where when I worked a few years ago I didn't have a penny saved, and when I quit the company I really didn't have anything. But I don't regret it, because I got a very valuable lesson from that experience. Yes now I live a better life again, I save, I invest too.
It's true what many people say, that experience will make us even better and I really feel it myself. Maybe it depends on the person too, because there are people who don't learn from experience, and I think that's really stupid.

No don't feel bad for your self because there must be a reason on why you can't save. Sometimes our job is paying low and then we have lots of expenses to pay. What was the nature of job before? Was it a job outside? Now that you are here in the forum and you have applied for a sig campaign, it should give you an extra money alongside with the salary that you earn on your job.

This must be the time that you can save up. Not all experiences are bad. If some people can't seem to learn and grow, maybe they are already contented with what they currently have? But for others who think something is not right, they need to correct their life.

[indah rezqi]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ?

I'm grateful that I have savings, even if they can't cover all of my living expenses for years to come. But ideally we should have savings so we don't experience a similar case like what your friend experienced.

If you don't have an investment plan, try saving 3x your daily needs, but if you have more income than the average person. If you can't save 3x, then do 2x, or do 1x if you really don't have a decent income. Meaning that's how important saving is, and so far I'm grateful to be able to do it.

To avoid similar cases, I think there must be a solution, here are the points in my opinion:

• Set limit spending.
• Have savings
• Plan investments

The first point should be important because you shouldn't spend more money during very bad economic conditions. Severe inflation rates just make the currency lose value, meaning you shouldn't spend a lot of money on something that isn't of much use. The second point, you also need to consider saving for whatever you want to have in the future. This savings can be used when you are urgent, planning to build a house, buy something valuable or for whatever your future plans are. Finally, the third point, let your money work for you instead of you working hard for money. This mindset really belongs to successful people, so try to apply it.

[isaac_clarke22]

~

Well I hope you already learned your lesson from that, OP. We'll never know what happens until we really experience how does it feel to have literally nothing in backup. I was at that point where I did not have any backup and could not even sleep for weeks properly thinking on how should I be able to still pay my bills. Thankfully my clothing and freelancing business pushed through and that would be now at least my lesson to always still have at least another source of income whenever I have the chance to do so.

In crypto, I do not fully commit all my savings to it anyway so it is perfectly fine for me whatever happens.

[virasisog]

~

Well I hope you already learned your lesson from that, OP. We'll never know what happens until we really experience how does it feel to have literally nothing in backup. I was at that point where I did not have any backup and could not even sleep for weeks properly thinking on how should I be able to still pay my bills. Thankfully my clothing and freelancing business pushed through and that would be now at least my lesson to always still have at least another source of income whenever I have the chance to do so.

In crypto, I do not fully commit all my savings to it anyway so it is perfectly fine for me whatever happens.

I've been in the same situation when the pandemic crisis happened. I also lost my job due to lockdowns and had no source of income. Luckily, I have enough savings because when I was working, I used to save 20% of my salary. My savings saved me and my family and that's when I have realized that saving will surely save us from unexpected occurrences and trials that we might face. The economic crisis right now is hard to deal with and saving is very challenging but as much as possible, we have to focus on it both fiat and crypto because we'll never know what tomorrow may bring.

[Lanatsa]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Well if I get you well.your friend work in a company for a decade and suddenly lost the job and his life is negatively affected.hmm..i guess he lacks good financial intelligence,management plan and prudence.this calls to mind the need for proper management of earnings through savings just in case financial emergency arises as in this pitiable case.one can avoid debts and loans if you are disciplined enough to start saving early.this ultimately will keep you off financial stress,cushion against sudden job loss and give you a firm sense of financial freedom.cultivate the habit of savings,you can fall back on it in situations like this until you pick up again.

He indeed lacks planning and he had made himself that too much confident when it comes to money making or just recieving his salary.He had thought that it might already be that forever and didnt mind off the

possibilities that one day you might able to lose it and it did really happen.There are indeed people who did experience out the worst when it comes to this kind of scenario or situation on which you've been
laid off or they do fire you.

There's no such thing about guarantees in life and this is why you should really save up something which is for emergencies something like this or make out investment
while you are still that financially capabled because if time comes like this then you wont really be finding yourself on trouble.

[serjent05]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Well if I get you well.your friend work in a company for a decade and suddenly lost the job and his life is negatively affected.hmm..i guess he lacks good financial intelligence,management plan and prudence.this calls to mind the need for proper management of earnings through savings just in case financial emergency arises as in this pitiable case.one can avoid debts and loans if you are disciplined enough to start saving early.this ultimately will keep you off financial stress,cushion against sudden job loss and give you a firm sense of financial freedom.cultivate the habit of savings,you can fall back on it in situations like this until you pick up again.

He indeed lacks planning and he had made himself that too much confident when it comes to money making or just recieving his salary.He had thought that it might already be that forever and didnt mind off the

possibilities that one day you might able to lose it and it did really happen.There are indeed people who did experience out the worst when it comes to this kind of scenario or situation on which you've been
laid off or they do fire you.

There's no such thing about guarantees in life and this is why you should really save up something which is for emergencies something like this or make out investment
while you are still that financially capabled because if time comes like this then you wont really be finding yourself on trouble.

Aside from saving how about investing in insurance company?  Saving is good but if we want to make the best out of our money, I believe getting insurance accordingly is another good way of preparing oneself for the future.

Once these insurance matures, not only we can get our initial money but also the generated profit offered by the insurance plan.  I also heard that insurance profits are tax free.

[_BlackStar]

Aside from saving how about investing in insurance company?  Saving is good but if we want to make the best out of our money, I believe getting insurance accordingly is another good way of preparing oneself for the future.

Once these insurance matures, not only we can get our initial money but also the generated profit offered by the insurance plan.  I also heard that insurance profits are tax free.

Insurance may be considered, but what if you don't have a steady monthly income and how can you withdraw your funds from the insurance company when you are in an urgent situation?

I tend to think it's safe to get my savings budget in gold or maybe at bank account. Gold is an asset that tends to be less big volatile, so it's a good choice if you no longer trust the bank. I know gold also fluctuates, but you can sell it in the amount you need when you need money urgently. Even if the price drops, I don't think your loss will be too big.

[benalexis12]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

What happened to your friend is a difficult situation because the only thing he expects is his job to support and help his family. But even so, it is said that if something is lost, there is definitely a replacement, you just have to look for it and choose it. Of course, as a friend, encourage him and make him feel that God does not neglect him. That's why it's really important that you have savings and the same you should have another sideline or part time income at least, just like here in cryptocurrency start it as a part time income that's what I'm doing here via doing crypto trading even if it's small at least I'm coming in now.

[Unbunplease]

with ever-increasing inflation, money cannot remain unmoving because it is depreciating. So it is wise to find an option to make money work for you. Unfortunately, it is impossible to calculate all risks, so the risk of unsuccessful investment is quite high.

[Dragonfund]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Savings won't make a difference because you'll end up spending less once inflation kicks in. I prefer to invest when I have the opportunity to work in a good environment that pays well. I don't intend to work for anyone or any company for an extended period of time. Instead, I plan to put my money into some good assets and, once I have enough, launch my own business. I believe that with the experience I have gained thus far, I will be able to launch a successful business. Don't forget that inflation is forever, to ovvercome it, start a business instead of saving.

[jossiel]

with ever-increasing inflation, money cannot remain unmoving because it is depreciating. So it is wise to find an option to make money work for you. Unfortunately, it is impossible to calculate all risks, so the risk of unsuccessful investment is quite high.

We can replace calculating risk with assumed calculation and estimation. If we think that our money will be taking a lesser risk with an investment then we should take that path and that little risk is worth to take than our money will be affected by the unmovable inflation which is unstoppable.

The rich does it and despite having a lot of valuation for themselves, they all speak for their assets and portfolio. There could be a lot of cash on them but that's just an excess from the huge assets that they've got.

[Fredomago]

with ever-increasing inflation, money cannot remain unmoving because it is depreciating. So it is wise to find an option to make money work for you. Unfortunately, it is impossible to calculate all risks, so the risk of unsuccessful investment is quite high.

We can replace calculating risk with assumed calculation and estimation. If we think that our money will be taking a lesser risk with an investment then we should take that path and that little risk is worth to take than our money will be affected by the unmovable inflation which is unstoppable.

The rich does it and despite having a lot of valuation for themselves, they all speak for their assets and portfolio. There could be a lot of cash on them but that's just an excess from the huge assets that they've got.

Rich people understand the situation, especially those who are active with financial orientations. They know what they are doing and most of them are doing diversion to protect their interest, they are aiming for other alternatives like investment or any form that will give them the chance to increase the value of their wealth.

You need to work on with your knowledge and find what's fit for you. Inflation is something that you need to fully understand and make your move whenever you already know what will be your next plan.

[FireDAOJackie_Z]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Savings won't make a difference because you'll end up spending less once inflation kicks in. I prefer to invest when I have the opportunity to work in a good environment that pays well. I don't intend to work for anyone or any company for an extended period of time. Instead, I plan to put my money into some good assets and, once I have enough, launch my own business. I believe that with the experience I have gained thus far, I will be able to launch a successful business. Don't forget that inflation is forever, to ovvercome it, start a business instead of saving.

With all due respect, I think what you said are basic theories that are suitable on paper. Savings is always a backup whether you do it for emergency funds or for big expensive purchases. Your preference on investment is good in general but can be very situational and individual. I don't believe anyone is meant for starting a business and to be honest, the chances of having a successful business for most people are too slim. Reality teaches us to be realistic and be prepared for the unforeseen challenges ahead. If you don't have any savings to fall back on, you are more likely to be in my friend's situation.

[Dunamisx]

We all needs money to meet up with the daily demands but not everyone can maintain the habit to save from the little they have for the future, the mistake we made most times is that we have expect things to be running as usual for us since we had it all going well as at that time, but things are not permanent sometimes especially when dealing with money, situations changes but what we have save up will always serve our backup whenever we experience the unexpected.

[xSkylarx]

We all needs money to meet up with the daily demands but not everyone can maintain the habit to save from the little they have for the future, the mistake we made most times is that we have expect things to be running as usual for us since we had it all going well as at that time, but things are not permanent sometimes especially when dealing with money, situations changes but what we have save up will always serve our backup whenever we experience the unexpected.

These are the moments that you think it will last forever like if you are earning enough money right now so your mind is thinking that no need to save as you have that money but when a storm hits in your life like losing a job there are emergencies that needed to pay money then that is the time you realize it is better to save even if it's in sunny days and the truth is that it is easy to save money when everything goes well. Though most of the reason people don't save is that their income is one enough but even saving $1 can save you in the future as long as you save no matter how much.

[jossiel]

We can replace calculating risk with assumed calculation and estimation. If we think that our money will be taking a lesser risk with an investment then we should take that path and that little risk is worth to take than our money will be affected by the unmovable inflation which is unstoppable.

The rich does it and despite having a lot of valuation for themselves, they all speak for their assets and portfolio. There could be a lot of cash on them but that's just an excess from the huge assets that they've got.

Rich people understand the situation, especially those who are active with financial orientations. They know what they are doing and most of them are doing diversion to protect their interest, they are aiming for other alternatives like investment or any form that will give them the chance to increase the value of their wealth.

You need to work on with your knowledge and find what's fit for you. Inflation is something that you need to fully understand and make your move whenever you already know what will be your next plan.

All rich people are aware of that thing and that's one of the reasons why they're financially free and good with handling money.

They know not just to save but also to invest and how to manage their stuff that relates to finances. Majority of the rich people didn't become rich through their luck but all with hard work and because they're also smart.

Learning from them will also give us the tip on how we should make ourselves from point A to point B as if we've got nothing into having something.

[Mauser]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Saving is the best option we have at the moment, times are rough and things could be getting worse this year. The main problem in my country is that inflation is already high and is not going to come down any time soon. That's why it makes no sense at all to save money in a bank account that pays 2% interest, compared to a 10% inflation. The only real option is to invest in stocks or crypto currencies. Losing our job is the worst case scenario and I would try to get government assistance as fast as possible. In my country there are financial schemes to help pay for rent and give other benefits if we can find a new job in 6-12 months. If that isn't an option I would ask my family for financial help.

[iamsange]

With all due respect, I think what you said are basic theories that are suitable on paper. Savings is always a backup whether you do it for emergency funds or for big expensive purchases. Your preference on investment is good in general but can be very situational and individual. I don't believe anyone is meant for starting a business and to be honest, the chances of having a successful business for most people are too slim. Reality teaches us to be realistic and be prepared for the unforeseen challenges ahead. If you don't have any savings to fall back on, you are more likely to be in my friend's situation.

Savings in life is very important for everyone, although everyone has different preferences for this. But for me savings in life can only function for three things, the first is to buy luxury goods that are not cheap and the second is to get back up when someone goes bankrupt from the business he is running and the last is when someone is sick where he does not have to sacrifice his business to do medical treatment or health healing for himself.

And because these three things are things that very often happen in human life, that's why I say that saving is a very good thing for everyone to do to maintain the stability of their life which cannot be predicted with common sense. Your friend is one example that he immediately finds it difficult when he no longer works at a place and that indicates that he did not save money while he was still working and maybe he never thought about how his condition would be if one day he was fired from his job, so he was feeling the consequences of that neglect for now.

[slashz9]

The point is if you are working now you have to save savings for life for at least the next 6 months, so when there is an urgent emergency then you can survive for that time first then think about the next step.
So I will also do the same because it really helps later.

[S A KHAIR]

with ever-increasing inflation, money cannot remain unmoving because it is depreciating. So it is wise to find an option to make money work for you. Unfortunately, it is impossible to calculate all risks, so the risk of unsuccessful investment is quite high.

And then do you get rid of inflation? Do you have financial freedom of your choice? Or are still struggling with the thought of how to make more money because there is no savings. Investment is a solution to increase wealth but it is not simply an investment and profits will always come, investment risks are unpredictable. So saving is necessary as it helps you to have money to invest as well as for emergencies.

[Fredomago]

We can replace calculating risk with assumed calculation and estimation. If we think that our money will be taking a lesser risk with an investment then we should take that path and that little risk is worth to take than our money will be affected by the unmovable inflation which is unstoppable.

The rich does it and despite having a lot of valuation for themselves, they all speak for their assets and portfolio. There could be a lot of cash on them but that's just an excess from the huge assets that they've got.

Rich people understand the situation, especially those who are active with financial orientations. They know what they are doing and most of them are doing diversion to protect their interest, they are aiming for other alternatives like investment or any form that will give them the chance to increase the value of their wealth.

You need to work on with your knowledge and find what's fit for you. Inflation is something that you need to fully understand and make your move whenever you already know what will be your next plan.

All rich people are aware of that thing and that's one of the reasons why they're financially free and good with handling money.

They know not just to save but also to invest and how to manage their stuff that relates to finances. Majority of the rich people didn't become rich through their luck but all with hard work and because they're also smart.

Learning from them will also give us the tip on how we should make ourselves from point A to point B as if we've got nothing into having something.

Majority indeed, they put their focus and time to find the best way to increase and grow their savings, not just an ordinary savings but they find the best way to invest and to make sure that they are working with the right investment, success depends from how they seriously take it and how they look for the right patterns.

If they put their money into business, they are not just put it without doing research and they really taking their time to make sure that they are executing their plans.

[Sarah Azhari]

If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Sorry about your friend, if i were him i will get headaches and don't know what you will do next. But, as today i have a side job like signature campaign, of corse it will not make me too surprise, my week salary $60 is enouh save me, but i don't want to just give up just like that. I will look for a new job and try to recovered my life as much as i can.

[RockBell]

Inflation has really eaten deep into the global economy, so with this, it has become a global issue. The standard of living is increasing seriously everywhere, and your earning can't even keep up with your bills anymore, especially for those who have families to feed and care for. For this reason, you shouldn't put all of your eggs in one basket instead, you should look for different ways to boost your earnings at least it will be of helps you and have at least some savings for emergency purposes.

[visionE2]

With all due respect, I think what you said are basic theories that are suitable on paper. Savings is always a backup whether you do it for emergency funds or for big expensive purchases. Your preference on investment is good in general but can be very situational and individual. I don't believe anyone is meant for starting a business and to be honest, the chances of having a successful business for most people are too slim. Reality teaches us to be realistic and be prepared for the unforeseen challenges ahead. If you don't have any savings to fall back on, you are more likely to be in my friend's situation.

Savings in life is very important for everyone, although everyone has different preferences for this. But for me savings in life can only function for three things, the first is to buy luxury goods that are not cheap and the second is to get back up when someone goes bankrupt from the business he is running and the last is when someone is sick where he does not have to sacrifice his business to do medical treatment or health healing for himself.

And because these three things are things that very often happen in human life, that's why I say that saving is a very good thing for everyone to do to maintain the stability of their life which cannot be predicted with common sense. Your friend is one example that he immediately finds it difficult when he no longer works at a place and that indicates that he did not save money while he was still working and maybe he never thought about how his condition would be if one day he was fired from his job, so he was feeling the consequences of that neglect for now.

If you are good at saving, don't just save money, if the money has been collected, buy an asset that can grow, at least buy gold. Now is the time to invest money to work, not just save it. Money must be kept in circulation to make a profit. If you just keep it as a display and its value drops due to inflation.

[huu78]

yes, we should understand and learn if a situation like this happens again, like your friend who lost his job and then he can't support his family, that's why if he has savings maybe he can survive for a while while looking for work or income from other sources.

[molsewid]

yes, we should understand and learn if a situation like this happens again, like your friend who lost his job and then he can't support his family, that's why if he has savings maybe he can survive for a while while looking for work or income from other sources.

Yes, we should learn to save and have some different allocation depending on its purpose. We should learn to separate savings for investment, savings for gambling if you are playing for fun, savings for emergency funds, better to have a different plan for health related so that allocation for emergency will not be used, it is really hard to save nowadays for people like me but I know soon I will have those, that's why I am working very hard and smarter now.

[jossiel]

All rich people are aware of that thing and that's one of the reasons why they're financially free and good with handling money.

They know not just to save but also to invest and how to manage their stuff that relates to finances. Majority of the rich people didn't become rich through their luck but all with hard work and because they're also smart.

Learning from them will also give us the tip on how we should make ourselves from point A to point B as if we've got nothing into having something.

Majority indeed, they put their focus and time to find the best way to increase and grow their savings, not just an ordinary savings but they find the best way to invest and to make sure that they are working with the right investment, success depends from how they seriously take it and how they look for the right patterns.

If they put their money into business, they are not just put it without doing research and they really taking their time to make sure that they are executing their plans.

They know that inflation will kill the value of their wealth eventually so instead of saving all of their money in the bank, they set aside what's for savings and what's more for investing.

That's the reason why many of them becomes richer every time there's an opportunity to invest and they do it without any doubt.

They only take time to assess the risk if it's okay for them and that's it, as long as they know what they invest in, there's no other call for it and they spread it as much as they do to lessen its risks.

[Little_Sister]

They know that inflation will kill the value of their wealth eventually so instead of saving all of their money in the bank, they set aside what's for savings and what's more for investing.

That's the reason why many of them becomes richer every time there's an opportunity to invest and they do it without any doubt.

They only take time to assess the risk if it's okay for them and that's it, as long as they know what they invest in, there's no other call for it and they spread it as much as they do to lessen its risks.

Saving at a bank will not provide benefits other than the interest offered by the bank, but when the impact of inflation causes the value of the currency to drop and we have to buy anything at a higher price. So it's better that most of your funds are diverted to gold and crypto investments, I have both for future assets and the impact when the two increase, we will see satisfactory asset values because the value of our assets will continue to increase.

[panganib999]

Hardship or not it's always best to save up and divvy your savings into different types. nowadays you can't just make a super savings account that would handle all your needs like emergency or investments, that's a death wish and would almost always spell failure for your savings. Either create one for conventional savings, and another for emergency, or basically everything else but make sure you have a separate savings account you can use for when shit hits the fan. That would almost always ensure that rain or shine, and even if you deplete your savings to its last penny, you still have a few other savings and you will not be zeroed out.

[blockman]

I am saving a little bit from what's left of me but mostly, I keep everything in my investments like bitcoin. But we've got the same reason, as you save for your future, I do invest for my future as well. I have the discipline in investing but whenever is cash in my hand, I have no idea how it's so quick to be gone. 
That's why the only way is to put that into investments so that I won't touch it anymore. We have to save and invest from now on, as we've seen the world's economy is unstable and we don't know what might happen soon. There's a reason why we should do that so whenever a turnover comes into our lives, we've got something that we can use in times of need. Whether it's from your investments or savings, you've come prepared to deal with it.

[milewilda]

I am saving a little bit from what's left of me but mostly, I keep everything in my investments like bitcoin. But we've got the same reason, as you save for your future, I do invest for my future as well. I have the discipline in investing but whenever is cash in my hand, I have no idea how it's so quick to be gone. 
That's why the only way is to put that into investments so that I won't touch it anymore. We have to save and invest from now on, as we've seen the world's economy is unstable and we don't know what might happen soon. There's a reason why we should do that so whenever a turnover comes into our lives, we've got something that we can use in times of need. Whether it's from your investments or savings, you've come prepared to deal with it.

Savings is a must thing but not fully be put up in fiat form but rather it should really be put up on some investment like crypto or other assets like real estate or other investment which arent on fiat form which you do know that it could really be able to provide out some potential earning or income which you could really make use of on the time that you do really need it or simply that could generate more income.
We are really that prioritizing on things which we do really like specially on making money and able to survive into those hard time specially if its needing up some funds
considering that we are living on a world where inflation and recession is inevitable.

[youdacapt]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

While growing up, my grandfather used to define savings as a "lifesaver", as an individual if we face a difficult phase in life and theres not many people to help out. Our first and most important savior is our savings. My humble advice is that irrespective of how little or how much funds we are earn as individual, it is important to delegate little of it for savings either weekly, or monthly, or quarterly. It will always come in handy

[blockman]

I am saving a little bit from what's left of me but mostly, I keep everything in my investments like bitcoin. But we've got the same reason, as you save for your future, I do invest for my future as well. I have the discipline in investing but whenever is cash in my hand, I have no idea how it's so quick to be gone. 
That's why the only way is to put that into investments so that I won't touch it anymore. We have to save and invest from now on, as we've seen the world's economy is unstable and we don't know what might happen soon. There's a reason why we should do that so whenever a turnover comes into our lives, we've got something that we can use in times of need. Whether it's from your investments or savings, you've come prepared to deal with it.

Savings is a must thing but not fully be put up in fiat form but rather it should really be put up on some investment like crypto or other assets like real estate or other investment which arent on fiat form which you do know that it could really be able to provide out some potential earning or income which you could really make use of on the time that you do really need it or simply that could generate more income.
We are really that prioritizing on things which we do really like specially on making money and able to survive into those hard time specially if its needing up some funds
considering that we are living on a world where inflation and recession is inevitable.

Yeah, inflation will be taking a big portion of its current value and that's why it's best to be placed into any investment that we understand. In my case, it's mostly with bitcoin and that's my savings that I'm treating right now. It may not be in the form of fiat but we know that fiat's printing during the intense height of the pandemic made its value lower due to its supply. Whilst for bitcoin, we're all aware that it's got a supply limit and its transparent on how many were in there in the economy circulating but we just don't know how many have been lost forever and that makes it worthier because it adds value to the current bitcoin in circulation now. I just don't know if I'll be selling if I want some or if I'd remain firm waiting for the next bull run and with the another bull after it. Hopefully that all of us meet for those next bull runs.

[Mario Yamasaki]

If we have clear goals then the best thing is to always maintain that commitment, always focus and never be tempted to spend money on unnecessary things such as changing gadgets, changing cars, and so on, remember that the future of the economy is unpredictable so we must always Make saving and investment a priority.

[bitgolden]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

I started doing this again this month, I haven't done it in a while because I was fighting against debt and some life troubles but thankfully it looks like I finally have everything under control. Nearly no debt (just a small amount) and hopefully life troubles are behind unless some new one comes up.

But the realty is that saving money doesn't seem like an easy thing, not like I remember at least, it looks like a troubling thing in the end. I feel like we are talking about something that goes against humans mind, because having money but not spending it and living a worse life than you could if you spent it is always a hard thing in our brains.

[jossiel]

They know that inflation will kill the value of their wealth eventually so instead of saving all of their money in the bank, they set aside what's for savings and what's more for investing.

That's the reason why many of them becomes richer every time there's an opportunity to invest and they do it without any doubt.

They only take time to assess the risk if it's okay for them and that's it, as long as they know what they invest in, there's no other call for it and they spread it as much as they do to lessen its risks.

Saving at a bank will not provide benefits other than the interest offered by the bank, but when the impact of inflation causes the value of the currency to drop and we have to buy anything at a higher price. So it's better that most of your funds are diverted to gold and crypto investments, I have both for future assets and the impact when the two increase, we will see satisfactory asset values because the value of our assets will continue to increase.

It differs from what we think about the banks, if you just want a safe keeping then banks are the way to go and don't just look at the interest because of those interest rates means nothing because they're too small.

But if the worry that your money in the bank will be lesser in value, I do agree with you that it should be put in assets that you think will make it grow and beat the inflation.

Perfect example is bitcoin and then next is gold as you've said but since we're in a bitcoin forum, we're all bias about bitcoin but I guess bankers will have to agree with that.

[Kelvinid]

yes, we should understand and learn if a situation like this happens again, like your friend who lost his job and then he can't support his family, that's why if he has savings maybe he can survive for a while while looking for work or income from other sources.

Yes, we should learn to save and have some different allocation depending on its purpose. We should learn to separate savings for investment, savings for gambling if you are playing for fun, savings for emergency funds, better to have a different plan for health related so that allocation for emergency will not be used, it is really hard to save nowadays for people like me but I know soon I will have those, that's why I am working very hard and smarter now.

It was what we called budgeting management. And savings should be given importance at this time as we never know what will await us in the next couple of days. Indeed, we can just put aside some emergencies that need money on time and it was hard if we don't have any savings or anything that could help us out. Thus, if we are not doing this in the previous years, it is a must to have started it now. But this actually works when there is good planning and must also be consistent with it otherwise, we just fail.

[soramon]

Saving is always be a good choice for life. I think every parents in this world taught us to save our money. Especially with current economic condition that so unstable. I hope your friend can find another job as soon as possible.

[Bitcoin2009]

When we have income then never spend it all, we must always think that the future will have many challenges so that it requires a lot of money or costs, especially when we get older and have no income then we will cry hungry, the best thing is to dare to invest or save money regularly and never be tempted to buy things that are not important.

[SOKO-DEKE]

When we have income then never spend it all, we must always think that the future will have many challenges so that it requires a lot of money or costs, especially when we get older and have no income then we will cry hungry, the best thing is to dare to invest or save money regularly and never be tempted to buy things that are not important.

Yes, it very important to save money for future purpose especially for some emergencies.but that will depend on someone sources of income because are they are a lot of people out there that even their incomes can not solve their problems. so does kind of people will found it difficult to have savings, so we can only have savings when we do have sufficient income. Or are we expecting a family man that is receiving 250 dollars per month with two kids to have a savings?I don't think that can work because the money can't solve his problem or need manage again.

[Fredomago]

yes, we should understand and learn if a situation like this happens again, like your friend who lost his job and then he can't support his family, that's why if he has savings maybe he can survive for a while while looking for work or income from other sources.

Yes, we should learn to save and have some different allocation depending on its purpose. We should learn to separate savings for investment, savings for gambling if you are playing for fun, savings for emergency funds, better to have a different plan for health related so that allocation for emergency will not be used, it is really hard to save nowadays for people like me but I know soon I will have those, that's why I am working very hard and smarter now.

It was what we called budgeting management. And savings should be given importance at this time as we never know what will await us in the next couple of days. Indeed, we can just put aside some emergencies that need money on time and it was hard if we don't have any savings or anything that could help us out. Thus, if we are not doing this in the previous years, it is a must to have started it now. But this actually works when there is good planning and must also be consistent with it otherwise, we just fail.

Good planning will allow you to execute things well, if you start planning and you work on it the right way then you will be able to save up, a matter of how you project your target and how serious you are in achieving your goals, as long as you can limit your expenses and you able to minimize the way you spend your money, you can do things and will save you in terms of financial aspects.

[Fatunad]

yes, we should understand and learn if a situation like this happens again, like your friend who lost his job and then he can't support his family, that's why if he has savings maybe he can survive for a while while looking for work or income from other sources.

Yes, we should learn to save and have some different allocation depending on its purpose. We should learn to separate savings for investment, savings for gambling if you are playing for fun, savings for emergency funds, better to have a different plan for health related so that allocation for emergency will not be used, it is really hard to save nowadays for people like me but I know soon I will have those, that's why I am working very hard and smarter now.

It was what we called budgeting management. And savings should be given importance at this time as we never know what will await us in the next couple of days. Indeed, we can just put aside some emergencies that need money on time and it was hard if we don't have any savings or anything that could help us out. Thus, if we are not doing this in the previous years, it is a must to have started it now. But this actually works when there is good planning and must also be consistent with it otherwise, we just fail.

Good planning will allow you to execute things well, if you start planning and you work on it the right way then you will be able to save up, a matter of how you project your target and how serious you are in achieving your goals, as long as you can limit your expenses and you able to minimize the way you spend your money, you can do things and will save you in terms of financial aspects.

Planning is all we do really need, take up some goal line or target on which you would really be that trying out to achieve rather than on having no at all.We know that economic situations getting more and more worst
as years passing and as an individual or having that your own family then its really that understandable that you should make out back up plans for you to earn more so that you could really be having that savings.
Some would really be deciding on having no savings on bank but there are ones who would really be diversifying through investment which is something that recommended
if you are really trying to earn or generate income for longer runs.

[ichsan ardi]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Judging from this case, it can be concluded that we must have an emergency fund, these funds can be very useful so that we don't panic when we are fired when there is an unlucky day disaster or a very unexpected situation.

[Jody.Drummer]

When we have income then never spend it all, we must always think that the future will have many challenges so that it requires a lot of money or costs, especially when we get older and have no income then we will cry hungry, the best thing is to dare to invest or save money regularly and never be tempted to buy things that are not important.

Not everyone realizes this and it seems like most people who have this kind of thinking have had their share of mistakes, and that includes me. Many people are still living in poya poya, they work for a month and spend their money in just 1 night. I have many friends like that, and when I advise them they don't listen because they are still financially stable. But I have never regretted giving that advice, because in the end he realized that what I said was true. And evidently, some of my friends approached me and regretted not listening to what I had to say.

[uneng]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

There is never an easy way out when we face abrupt changes in life, especially when the whole economy of the country is affected and suffering at same time.

If I were your friend I think I would adopt emergency measures, like cutting most expenses as possible and looking for jobs opportunities around or at the internet. Maybe asking for the help of a friend or relative who could indicate me to a job spot somewhere.

A great possibility would be to leave the country, going to a land of prosperity where jobs could be found easier, and life standards are higher. However, that demands a lot of enthusiasm, will and courage.

[erep]

Good planning will allow you to execute things well, if you start planning and you work on it the right way then you will be able to save up, a matter of how you project your target and how serious you are in achieving your goals, as long as you can limit your expenses and you able to minimize the way you spend your money, you can do things and will save you in terms of financial aspects.

Every income we get must prioritize some of the funds for savings, like you said that the most efficient way is to minimize expenses and not spend on optional items, so we need to increase savings from each income allocation because the savings will be useful for emergency needs or for needs unpredictable in the future, so as much as possible we have to have savings even though we save every 2 months or however your method is for saving then you will know the benefits of saving when we need large funds.

[FireDAOJackie_Z]

Good planning will allow you to execute things well, if you start planning and you work on it the right way then you will be able to save up, a matter of how you project your target and how serious you are in achieving your goals, as long as you can limit your expenses and you able to minimize the way you spend your money, you can do things and will save you in terms of financial aspects.

Every income we get must prioritize some of the funds for savings, like you said that the most efficient way is to minimize expenses and not spend on optional items, so we need to increase savings from each income allocation because the savings will be useful for emergency needs or for needs unpredictable in the future, so as much as possible we have to have savings even though we save every 2 months or however your method is for saving then you will know the benefits of saving when we need large funds.

In short, develop savings as a habit and never abandon it. I've always had this in mind and over the years, it worked. This somehow reminds me of a famous quote: plans are nothing; planning is everything. Once we have implemented what we planned, all things will work out great.

[GreenStox]

i will if i still can, because I already feel financial difficulties, so when I have more money I will save it first.
we will never know what conditions will occur in the future, so setting up savings just in case is not a bad thing
and the problem will more big if you already have family, so we need to prepare it first.

[Cookdata]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

I've come to realize that saving is an antiquated strategy for managing your finances. Do you know what passive income is? The fact that your investment will increase while you are still earning some money makes it a better choice than pure saving, even though it may not be the best. If you have them in various forms while keeping your job, you will notice that you have amassed a sizable sum of money in a short period of time. Even if you run out of cash, your passive income will still help your while investments grow in value, but overall, try to save some bitcoin; in my opinion, nothing beats it.

[Bushdark]

i will if i still can, because I already feel financial difficulties, so when I have more money I will save it first.
we will never know what conditions will occur in the future, so setting up savings just in case is not a bad thing
and the problem will more big if you already have family, so we need to prepare it first.

You can't save money when you don't have enough that is why it is more difficult for some persons to save money because they are still going to go back to the saving and use it to settle the problems. There are people that are doing hard jobs that is strenuous and required more inputore for them to earn a living.
Things are hard this time that is why we I would not blame some persons if they can not have a saving because what they are earning is not enough for them. It is always good for us to try our best and make savings so we can use it when we have problems.

[Joshapat]

Almost everyone of course has savings to make life or the future better, unfortunately many are complacent because they save money in the wrong place, if we have big money then we usually save it in deposits even though the banks only give 4% interest per year, if we use the money for investment of course we can get a profit of 40% or 10x than deposits.

[Pujangga]

The presence of cryptocurrencies is of course a good means or way to save plus investment, if we are lucky then the assets we save will increase by hundreds or even thousands of percent in a short time, it is time for us to dare to take risks by choosing bitcoin as an asset to replace money in banks.

[Alisha-k]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

I often times see people live extravagant lifestyle all because the feel they're making too much money and deserve some weldone treatment, not a bad one though but many of these persons do not have
1. Savings
2. Investments/side hustles
3. Plan B.

And this are very important things to have in as much as life is concerned, cause in as much as we never pray for the worst, we're expected to live our life for the best while expecting the worst.
Please guys, let's encourage our young ones to learn a skill, no matter what it is, it'll some day come through for them.

[rhodelmabanal]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

It is always wise to save money, we need to save while we can because we don't know when we can face an emergency, saving is good but if we save our money we need a lot of time before it will become big savings, i suggest to use the saving if there any, make a small business that don't need a big capital or invest in crypto, etc., There a lot of ways to earn not only saving.

[Casdinyard]

For a lot of countries getting laid off isn't as hard as it could possibly be, especially if they don't have other mouths to feed, courtesy of unemployment checks, I suggest he look into a couple of other options for earning like what I did at the height of the pandemic back in 2020. I got laid off like all of you guys, and it was one of the worst times to lose a job too considering it's the pandemic. What I did instead of moping around and complaining about how hard life is is to not look for friends to borrow money from, but to look for opportunities in freelancing or whatnot. Fast forward to today, I have a pretty strong portfolio and have been serving a couple of clients consistently, and have been able to provide for myself and my family through freelancing.

I'm not saying everybody should go freelance because it has its own ups and downs, what I'm saying is that well if another door closes for you, you should go looking for another. The first step into solving your problem is to actually dust yourself up and do something about it.

[odunybiz]

Saving out of ones earn may not be easy in some countries. Imagine someone earning #25,000 in Nigeria and he's with 3 children. How do you think savings will be easy in such country.

[Unbunplease]

It is always wise to save money, we need to save while we can because we don't know when we can face an emergency, saving is good but if we save our money we need a lot of time before it will become big savings, i suggest to use the saving if there any, make a small business that don't need a big capital or invest in crypto, etc., There a lot of ways to earn not only saving.

Now it is very difficult to find a business that requires little investment. Most of the market is occupied by monopolies, which simply do not let new players in. And you can't keep money either, because due to inflation, money is constantly depreciating

[lousie9]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

a decade is a long time for an employee in a company, your friend should get a large severance pay or compensation money for his loyalty to work in that company.
but sometimes some companies have never thought of giving appropriate compensation in accordance with the employee's dedication. I hope your friend can find another job soon or maybe try to start their own business.
Yes, that's right, regardless of whether we are an employee or have a business venture, we must be smart and wise in managing our money properly by saving expenses and trying to set aside all of our income for emergency funds, savings and investments. and we must not live with high prestige, we must live according to our means.

[serjent05]

It is always wise to save money, we need to save while we can because we don't know when we can face an emergency, saving is good but if we save our money we need a lot of time before it will become big savings, i suggest to use the saving if there any, make a small business that don't need a big capital or invest in crypto, etc., There a lot of ways to earn not only saving.

Now it is very difficult to find a business that requires little investment. Most of the market is occupied by monopolies, which simply do not let new players in. And you can't keep money either, because due to inflation, money is constantly depreciating

There are some that require a little investment but obviously, you can't observe huge profits.  If you are really serious about setting up a business with a small investment, you can try to be a street vendor, where you sell street foods or other items that can catch the attention of passer by.  Street food vendors that often stations themselves on the school gates only need a small investment but I heard many are able to save money and improve or upgrade their business.

[stomachgrowls]

It is always wise to save money, we need to save while we can because we don't know when we can face an emergency, saving is good but if we save our money we need a lot of time before it will become big savings, i suggest to use the saving if there any, make a small business that don't need a big capital or invest in crypto, etc., There a lot of ways to earn not only saving.

Now it is very difficult to find a business that requires little investment. Most of the market is occupied by monopolies, which simply do not let new players in. And you can't keep money either, because due to inflation, money is constantly depreciating

If you do tend to build a business then expect the the lesser the investment the lesser profits you could have or potentially make but of course it would really be depending whether it did become a trend or able to hook

it up.Its true that in todays world where monopoly turns out to be default on which it do make things even more harder for you to penetrate in, when you are tending to build some investment or business.
If you are really that have the plans then it is really that better.Savings is one priority since we dont really know on what would happen in the future.

There are really moments or situations which we would really be on a scenario on where we do really need  funds or finances.

[karmamiu]

It is always wise to save money, we need to save while we can because we don't know when we can face an emergency, saving is good but if we save our money we need a lot of time before it will become big savings, i suggest to use the saving if there any, make a small business that don't need a big capital or invest in crypto, etc., There a lot of ways to earn not only saving.

Now it is very difficult to find a business that requires little investment. Most of the market is occupied by monopolies, which simply do not let new players in. And you can't keep money either, because due to inflation, money is constantly depreciating

There are some that require a little investment but obviously, you can't observe huge profits.  If you are really serious about setting up a business with a small investment, you can try to be a street vendor, where you sell street foods or other items that can catch the attention of passer by.  Street food vendors that often stations themselves on the school gates only need a small investment but I heard many are able to save money and improve or upgrade their business.

I think that depends on which area you'll station yourself, coz there are some areas that requires you to pay for rent and overtime the rent only increases and eventually you'll give up that place but for sure you already have enough money saved.

Like what happened to one of my friends who started this kind of business, we were shocked to learn that the rent of that place was soaring high. Later we found out that it was reserved to someone and the price was 2 times lower when that someone rented.

[Inwestour]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Saving money is good, but remember that if you keep money for a long time, inflation will reduce its value. Although I am of the opinion that everyone should have reserves of money that can be a support in difficult times. Some of the money is left as a reserve for unforeseen circumstances, and everything else can be invested.

Hired work always contains risks that you can be fired, and you need to be prepared for this. It's always unpleasant, but that's the reality. Right now your friend would need savings while he looks for a new job.

My friend and his wife were in business and now they are forced to close their business, because the crisis has affected their activities too much. But I know that they have savings and therefore they feel calm while they think about what they will do next.

[Cryptodebjoe]

Savings is an old practice that has today evolved into investment by a lot of people this is so because money saved in the bank is definitely used by the bank to trade and do some transactions with it so it's better to always invest instead of savings the money

[Pejoh Asu]

Savings is an old practice that has today evolved into investment by a lot of people this is so because money saved in the bank is definitely used by the bank to trade and do some transactions with it so it's better to always invest instead of savings the money

In my country currently only get 5% interest per year, while the government reports that inflation is more than 5%, of course we save money in the bank but don't get anything, a few days ago I got an offer to add to the bank's balance and then held by the bank for up to a year and rewarded with suitcases, bags, bicycles and so on depending on the value we will keep and hold in banks for up to a year.

[Henrobakkara]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Saving money is very important while you are still working because of things like this we might not see coming.  We have seen situations like this severely and it becomes difficult to cope when you no longer have monthly or weekly earnings coming in and you didn't have any savings. there is this popular rule, 50/30/20 rule so you can have something to fall back on while you search for another job.

[Fredomago]

It is always wise to save money, we need to save while we can because we don't know when we can face an emergency, saving is good but if we save our money we need a lot of time before it will become big savings, i suggest to use the saving if there any, make a small business that don't need a big capital or invest in crypto, etc., There a lot of ways to earn not only saving.

Now it is very difficult to find a business that requires little investment. Most of the market is occupied by monopolies, which simply do not let new players in. And you can't keep money either, because due to inflation, money is constantly depreciating

There are some that require a little investment but obviously, you can't observe huge profits.  If you are really serious about setting up a business with a small investment, you can try to be a street vendor, where you sell street foods or other items that can catch the attention of passer by.  Street food vendors that often stations themselves on the school gates only need a small investment but I heard many are able to save money and improve or upgrade their business.

A good way for stable income, though it's very challenging and you will need to spare more of your time to estbalish your business and for people to get familiar with you, street vendor can be started with small amount of initial capital, there's no actual guarantee that it will click right away but if you manage to find the right product for the right venue, the chance of making good money is very possible to happen.

[Unbunplease]

Saving money is very important while you are still working because of things like this we might not see coming.  We have seen situations like this severely and it becomes difficult to cope when you no longer have monthly or weekly earnings coming in and you didn't have any savings. there is this popular rule, 50/30/20 rule so you can have something to fall back on while you search for another job.

Saving money becomes a problem when you earn as much as you have to pay for necessary expenses (clothing, food, shelter, medicine). Most of the population, unfortunately, lives from paycheck to paycheck. Here is how to save any amount of money in this case...

[bosede1]

You need to ask him if he has a savings and what type of business does he thinks he can venture into for a start, if the capital is not enough you can support him with it or you help him look for a better job if he doesn't want to do business.

[FireDAOJackie_Z]

Savings is an old practice that has today evolved into investment by a lot of people this is so because money saved in the bank is definitely used by the bank to trade and do some transactions with it so it's better to always invest instead of savings the money

In my country currently only get 5% interest per year, while the government reports that inflation is more than 5%, of course we save money in the bank but don't get anything, a few days ago I got an offer to add to the bank's balance and then held by the bank for up to a year and rewarded with suitcases, bags, bicycles and so on depending on the value we will keep and hold in banks for up to a year.

5% interest per year is really good compared to cases in many countries, which can offset the inflation of 5% more or less. I never compare savings with investment because savings needs to be safe and provides a sense of psychological security. I don't really mind the term deposit for a year or two, as long as it is safely deposited in a reliable bank.

[xSkylarx]

You need to ask him if he has a savings and what type of business does he thinks he can venture into for a start, if the capital is not enough you can support him with it or you help him look for a better job if he doesn't want to do business.

It is really difficult to venture to business if you just lost your job mostly if you dont have savings at all because you dont have capital to start but I dont know if we are the same but it would be better to help him find another job than do a business because for sure he was shocked that he lost a job so for sure he wasn't prepared at all. Just motivate him and if ever you found like job openings tell him or if you are currently working and there are openings in your company then it is better to recommend him

[Oasisman]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Regardless of whether or not there is a high inflation, we should always have savings for emergency purposes, may it be for sudden unemployment or health related cases or even sudden death.
We can have an insurance for this instances but it's also better if we could also put portion of our money in an investment like Bitcoin to avoid your money from depreciating too much due to the rapid inflation.
Saving is something that's really hard to do especially when you're materialistic, but one could never appreciate how much saving can save you from financial depression when a person is not in such situation. So, saving must have been the basic initiative most especially when you're already building your own family.

[AnonBitCoiner]

a person can only save money when he has a way and opportunities to get money because without job you cannot save money. Some people are wealthy through inherited wealth so they can easily make investemnt and can engage in some other business which will enhance their money. If he decided to leave his job then surely he has make his mind to do some other work, there are so many other people who work for their family in far area so its not good thing to leave the job for such reason.

Sudden changes occurs in life but it does not mean that we should leave all thing behind but we should take firm decision through thinking about each and everything. Getting job is very difficult these days so whenever you find some difficulties then try to tolerate them and do not loss hope. Patience will save you from making bad decision and one day you will be able to get for what you work hard.

[nimogsm]

Saving money is very important while you are still working because of things like this we might not see coming.  We have seen situations like this severely and it becomes difficult to cope when you no longer have monthly or weekly earnings coming in and you didn't have any savings. there is this popular rule, 50/30/20 rule so you can have something to fall back on while you search for another job.

Saving money becomes a problem when you earn as much as you have to pay for necessary expenses (clothing, food, shelter, medicine). Most of the population, unfortunately, lives from paycheck to paycheck. Here is how to save any amount of money in this case...

It's true that many people live like this.The only option is to cut costs even more and look for an additional source of income or a part-time job to break out of this circle.The most important thing in this situation is not to seek a miracle or help from someone but it is important to rely only on yourself.

[autumnleaf]

It's painful to lose your work, especially if you have a family to support. Don't just focus on conserving money, as other members have said, but also broaden your income sources by taking on more side jobs or starting a business you enjoy. We can no longer rely on having a single job because we will eventually be replaced.

[Chilwell]

Human beings quickly forget the hardships when they find easy; nothing lasts forever, and we quickly forget any kind of hardship when we are in our comfort zone. It is very difficult for us to start a personal business because we are engaged in someone else's business, the time for us to think and plan for our own eventually used up all of our time for the boss we are serving, which is why some of us find it difficult to start a business.

It happened to my father around ten years ago, they woke up one day and the government said he couldn't work with them again without any offense it just happened like that, they have to reform the organization and they have nothing to pay them, and since then we have faced a lot of hardship because my father was unable to establish any business because he spent all of his time working for the government.

After this incident, I learned a lot and decided to be self-employed because anyone or any organization could decide to fire me.

[FireDAOJackie_Z]

a person can only save money when he has a way and opportunities to get money because without job you cannot save money. Some people are wealthy through inherited wealth so they can easily make investemnt and can engage in some other business which will enhance their money. If he decided to leave his job then surely he has make his mind to do some other work, there are so many other people who work for their family in far area so its not good thing to leave the job for such reason.

Sudden changes occurs in life but it does not mean that we should leave all thing behind but we should take firm decision through thinking about each and everything. Getting job is very difficult these days so whenever you find some difficulties then try to tolerate them and do not loss hope. Patience will save you from making bad decision and one day you will be able to get for what you work hard.

Agreed. Actually people will be bored eventually no matter what job you have. The negative emotions are inevitable for most of us and one important thing we should learn is to control our mindset and minimize the negativity. In my experience, when I was young, I could not tolerate or understand all the unfair and ugly things in workplace. Most often, if I held the grudge too long and could not let it go, I would quit my job to find some other one. As I grow up, I realized that any office/workplace is nothing but a game place of gaining or losing. We must learn how to gain benefits out of all sufferings. Any middle-aged man knows what I am talking about.

[Xampeuu]

Saving money is very important while you are still working because of things like this we might not see coming.  We have seen situations like this severely and it becomes difficult to cope when you no longer have monthly or weekly earnings coming in and you didn't have any savings. there is this popular rule, 50/30/20 rule so you can have something to fall back on while you search for another job.

Saving money becomes a problem when you earn as much as you have to pay for necessary expenses (clothing, food, shelter, medicine). Most of the population, unfortunately, lives from paycheck to paycheck. Here is how to save any amount of money in this case...

It's true that many people live like this.The only option is to cut costs even more and look for an additional source of income or a part-time job to break out of this circle.The most important thing in this situation is not to seek a miracle or help from someone but it is important to rely only on yourself.

hoping for the help of friends to get out of the circle of economic difficulties, maybe the hope is slim, unless we have luck. the main thing I think is relying on ourselves to try to make money with the skills we have, so that later we will find our own way to get a source of fortune. I chose that because I am an individualist, so working with friends will actually bring problems in the future, even though we have implemented the rules that were agreed upon at the beginning

[fuer44]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Yes, we should have discussed this topic like what you are talking about and we should done it 10 years ago. Why only now? it is clear because right now we are going through difficult economic times. Whatever the cause, the inflation experienced by the country, the high cost of living, difficult jobs, the employment system with short-term contract durations, it makes us depressed in a few seconds, especially for those who are married.

I also regret when 5 years ago I only spent money on secondary needs. But from now on I promised myself to start saving. Getting a job, income, business or whatever it is that can earn some money in the present, is a fortune.

[Arenga pinnata]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

saving is a good way and indeed appropriate. but saving means you have to have a steady income, if you don't have any income how do you want to save.
the position your friend is in is definitely tough, but instead of helping him with money, it's better to find him a job, because if you just give him money it won't last long, but if you give him a job, it will definitely last longer.

[Uruhara]

hoping for the help of friends to get out of the circle of economic difficulties, maybe the hope is slim, unless we have luck. the main thing I think is relying on ourselves to try to make money with the skills we have, so that later we will find our own way to get a source of fortune. I chose that because I am an individualist, so working with friends will actually bring problems in the future, even though we have implemented the rules that were agreed upon at the beginning

Well we can't even fully trust our friends. so that all we can trust is ourselves. and so it is in financial matters. we should always be independent people and not expect help from others. even we should be able to work harder than others. develop skills and increase income as much as possible so that we remain in a position that is superior to others. and actually we will feel more free if we achieve success with our own efforts without the help of others.

[Supreemo]

hoping for the help of friends to get out of the circle of economic difficulties, maybe the hope is slim, unless we have luck. the main thing I think is relying on ourselves to try to make money with the skills we have, so that later we will find our own way to get a source of fortune. I chose that because I am an individualist, so working with friends will actually bring problems in the future, even though we have implemented the rules that were agreed upon at the beginning

Well we can't even fully trust our friends. so that all we can trust is ourselves. and so it is in financial matters. we should always be independent people and not expect help from others. even we should be able to work harder than others. develop skills and increase income as much as possible so that we remain in a position that is superior to others. and actually we will feel more free if we achieve success with our own efforts without the help of others.

that's right. it feels more gratifying when you experience an achievement through your own sweat and hardwork. on the other hand there're few friends who are willing to help you but not all the time, the reason why is because they also have their own lives to attend to. if you have that kind of friend who is willing to help you for the sake of helping then you are blessed.

in regards of skills, this very age no longer requires you to be a master of your own field, coz the more skills you have the chances of being financially free increases. that is why we could always read from those books or even success stories and podcast "to learn a new skill", and "get out of your comfort zone".

[gaston castano]

if i still can do that i will save money, and after save money and i still have some, i will put that on investment so i will not lose money because of inflation.
saving money for survive, invest money for make more money.

[MusaPk]

A good way for stable income, though it's very challenging and you will need to spare more of your time to estbalish your business and for people to get familiar with you, street vendor can be started with small amount of initial capital, there's no actual guarantee that it will click right away but if you manage to find the right product for the right venue, the chance of making good money is very possible to happen.

The world has changed, gone are those days when we can totally rely on our 9 to 5 job. Its now need of time to have some side work that can increase your earnings and can help you survive in case you suddenly lose a job. Today finding online work is not difficult as everyone of us has Internet and mobile, yes it's challenging and difficult to start with. There are numerous example of people getting online work through continuous effort. It's better to increase our earnings rather then cursing the circumstances and the government.

[Faisal2202]

What about you?

The problem of inflation is not almost in every country, in fact, my country was near to declared as default but we are still making it up. i hope we will recover soon. I am almost 23 years old and from the day i get consciousness, my life was full of struggle, (like everyone's face) the point in my life taught me to not depend on a single job for my whole life, like your friend.

I suggest you to to start your own business (if you have that much money then start that business that requires more skill-less money i.e. web mastering). Because, companies at some point bankrupted which leaves you nowhere, well if you have the skill then you can work anywhere. i do not know where your friend was working and what type of kill he/he was acquiring, but all that matters is not having a job but having a skill and an optimistic mindset. The world is changing into digitalization, which opens new doors for jobs too like every day.

Overall, if I were you, I ask him/her to learn an online skill that could help him in earning despite of bad economic situation but let's say I forget to tell him/her so now I will help him financially as well as mentally because I am his best friend. (if you are).

Saving is one of a way to enjoy life happily but there is no doubt that the economic situation will stabilize as the world is making bold moves every day and your country too. (just international prediction). So, saving money will not help you while making more money by achieving more will help you in stabilizing mentally and financially.

[Sterbens]

The world has changed, gone are those days when we can totally rely on our 9 to 5 job. Its now need of time to have some side work that can increase your earnings and can help you survive in case you suddenly lose a job. Today finding online work is not difficult as everyone of us has Internet and mobile, yes it's challenging and difficult to start with. There are numerous example of people getting online work through continuous effort. It's better to increase our earnings rather then cursing the circumstances and the government.

While you still have a job, it would be nice to set aside a little of your remaining salary for savings, at least you have a handle that can be used when needed instead of having to owe.

Yes, that's right, apart from the main job, most people nowadays choose to supplement their income from a side job, besides being able to add additional income, this can also help you when you suddenly lose your main job.
80% of people today choose online part-time jobs to supplement their income because they are easily accessible by staying at home and only needing a mobile device. It's better than having to go to the office.

[Gayong88]

My view after reading it In a situation like your friend's, it's important to find alternative sources of income, such as freelancing or part-time work. It may also be beneficial to create a budget and reduce unnecessary expenses to stretch their finances even further. Additionally, seeking help from family and friends, or government assistance programs may also be helpful.

What does it mean? it is important to be prepared for unexpected challenges and have a plan for managing financial difficulties. Saving is an important step toward financial stability and can provide a sense of security in times of uncertainty.

[Fredomago]

The world has changed, gone are those days when we can totally rely on our 9 to 5 job. Its now need of time to have some side work that can increase your earnings and can help you survive in case you suddenly lose a job. Today finding online work is not difficult as everyone of us has Internet and mobile, yes it's challenging and difficult to start with. There are numerous example of people getting online work through continuous effort. It's better to increase our earnings rather then cursing the circumstances and the government.

While you still have a job, it would be nice to set aside a little of your remaining salary for savings, at least you have a handle that can be used when needed instead of having to owe.

Yes, that's right, apart from the main job, most people nowadays choose to supplement their income from a side job, besides being able to add additional income, this can also help you when you suddenly lose your main job.
80% of people today choose online part-time jobs to supplement their income because they are easily accessible by staying at home and only needing a mobile device. It's better than having to go to the office.

If you can spare some for your saving and limit yourself from spending your money with useless vices, and it is also true that if you can find side job, then it will help a lot in saving good amount of money, there are different opinion regarding to this matter but for those who wanted to have a good financial stability, saving is the best thing to do.

It's your decision to save while you can still can and there's always a good benefit if you manage to maximize all your spare to save up.

[Bushdark]

My view after reading it In a situation like your friend's, it's important to find alternative sources of income, such as freelancing or part-time work. It may also be beneficial to create a budget and reduce unnecessary expenses to stretch their finances even further. Additionally, seeking help from family and friends, or government assistance programs may also be helpful.

What does it mean? it is important to be prepared for unexpected challenges and have a plan for managing financial difficulties. Saving is an important step toward financial stability and can provide a sense of security in times of uncertainty.

Freelancing is not like the way it used to be before and there had been a lot sof persons thar are into it now. Thee would be need to venture into other business opportunities that are right available in the internet.  It is good for us to make savings while we have money to save and not spending money extravagantly without purpose. I prefer doing it small small for it to increase with time than waiting for me to have enough money before saving them. The only way we can get to the next level is by us saving for the future.

[Unbunplease]

My view after reading it In a situation like your friend's, it's important to find alternative sources of income, such as freelancing or part-time work. It may also be beneficial to create a budget and reduce unnecessary expenses to stretch their finances even further. Additionally, seeking help from family and friends, or government assistance programs may also be helpful.

What does it mean? it is important to be prepared for unexpected challenges and have a plan for managing financial difficulties. Saving is an important step toward financial stability and can provide a sense of security in times of uncertainty.

To engage in freelancing, you need to be a person of a certain temperament. If a person is a slave and has little initiative, then this kind of activity as a freelancer is unlikely to suit him. In that case, one option is to work with a good psychologist.

[Exeus]

The world has changed, gone are those days when we can totally rely on our 9 to 5 job. Its now need of time to have some side work that can increase your earnings and can help you survive in case you suddenly lose a job. Today finding online work is not difficult as everyone of us has Internet and mobile, yes it's challenging and difficult to start with. There are numerous example of people getting online work through continuous effort. It's better to increase our earnings rather then cursing the circumstances and the government.

While you still have a job, it would be nice to set aside a little of your remaining salary for savings, at least you have a handle that can be used when needed instead of having to owe.

Yes, that's right, apart from the main job, most people nowadays choose to supplement their income from a side job, besides being able to add additional income, this can also help you when you suddenly lose your main job.
80% of people today choose online part-time jobs to supplement their income because they are easily accessible by staying at home and only needing a mobile device. It's better than having to go to the office.

As long as they get paid they will always choose what's best for them, but it terms of benefits and sustainability you can't actually get it in virtual jobs. Well there are some online jobs they offer beneficiary for their employees but we can't deny the fact that if the company shutdown those employees can't get anything from the company.

[awik p]

My view after reading it In a situation like your friend's, it's important to find alternative sources of income, such as freelancing or part-time work. It may also be beneficial to create a budget and reduce unnecessary expenses to stretch their finances even further. Additionally, seeking help from family and friends, or government assistance programs may also be helpful.

What does it mean? it is important to be prepared for unexpected challenges and have a plan for managing financial difficulties. Saving is an important step toward financial stability and can provide a sense of security in times of uncertainty.

Freelancing is not like the way it used to be before and there had been a lot sof persons thar are into it now. Thee would be need to venture into other business opportunities that are right available in the internet.  It is good for us to make savings while we have money to save and not spending money extravagantly without purpose. I prefer doing it small small for it to increase with time than waiting for me to have enough money before saving them. The only way we can get to the next level is by us saving for the future.

indeed we have to plan for the future, so that we have clear goals and directions in life. including saving and investing for future gains. therefore there are times when we look for other sources of income while we are still able to guarantee in old age. at least we have to have passive income to anticipate when we are unable to work, there is still income every month and there are still other investments

[mulia sabee]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

We all needs money to meet up with the daily demands but not everyone can maintain the habit to save from the little they have for the future, the mistake we made most times is that we have expect things to be running as usual for us since we had it all going well as at that time, but things are not permanent sometimes especially when dealing with money, situations changes but what we have save up will always serve our backup whenever we experience the unexpected.

[deathcode]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

We all needs money to meet up with the daily demands but not everyone can maintain the habit to save from the little they have for the future, the mistake we made most times is that we have expect things to be running as usual for us since we had it all going well as at that time, but things are not permanent sometimes especially when dealing with money, situations changes but what we have save up will always serve our backup whenever we experience the unexpected.

It is true that if we have accustomed ourselves to always saving for the future, sometimes there will be conditions that make our savings funds withdrawn and drained.
Even though we are used to saving, if we can't control our lifestyle or can't sort out which is more important to buy or fulfill, then our money will always run out and even savings will have to be taken away.
Then regarding the problem that was conveyed by OP, in my opinion we really have to have a backup plan because if we are still workers or laborers in a company then we cannot continue to rely on that because one day the company may go bankrupt or we may even be laid off.
Maybe while there is still time we should think about a side business by selling or creating a small business which will be a temporary way of survival if something unexpected happens to our main job.

[odunybiz]

Saving is not as easy as we think. Most people save from  excess income after buying what they want. Imagine when your income is hardly enough for you, will such person be able to save?

[Paul Pogba]

To make the future of our lives better, of course we have to save and invest, most people feel that they only focus on saving so that when they are not working, their income drops and they are not ready to live a new life, by investing, we can make the future better.

[Yawa2020]

Saving is not as easy as we think. Most people save from  excess income after buying what they want. Imagine when your income is hardly enough for you, will such person be able to save?

We are having the same thought here. Like Majority of Comments under this thread are shouting saving and investment as if it is very easier to save. Taking into consideration that majority of human population receives average wage and salary which hardly cover their monthly expenses. So how do you expect such person to save or invest? Engaging in entrepreneurship is the way to go now.

[Fredomago]

To make the future of our lives better, of course we have to save and invest, most people feel that they only focus on saving so that when they are not working, their income drops and they are not ready to live a new life, by investing, we can make the future better.

Yeah by investing either in business or by investing with stocks or crypto you are aiming to grow your money aside from saving it for your good future, there are people who loves to save as they are looking at it as an emergency fund in any case that will happen they have something to use.

Saving is not as easy as we think. Most people save from  excess income after buying what they want. Imagine when your income is hardly enough for you, will such person be able to save?

That's tough! But the chance of taking some saving if they can limit expenses or they can avoid using their spare money for some useless things but focus on maximizing your salaries to have spare for your savings.

[cryptoknightt]

If I were him, I would probably find another job, whatever the means, regardless of the income, so I can support myself and my family.
when you get a job, reduce your lifestyle to provide for your daily needs and your family.

[xSkylarx]

If I were him, I would probably find another job, whatever the means, regardless of the income, so I can support myself and my family.
when you get a job, reduce your lifestyle to provide for your daily needs and your family.

The problem in finding a new job and if the salary is below than you past is that you will take time to adopt though it is still better than you dont have a job but still strive for more like find a job that is better or if not the same your previous salary so that you wont struggle and at the same time find another source of income and save because
For sure you learn your lesson from lossing your job so it is better to save for incase of emergency

[naikturun]

i will if i still can save money so i can save money, then invest to business or something to gain passive income, but to go to level that is not easy, first must have income then make it bigger and can save money then the last invest it to gain passive income.

[Inwestour]

Many people wanted to save money but it is really hard, in my country the minimum wage is very small and it is really hard to budget specially when the basic needs price rises so there's nothing left to save and most of them take a loan because the salary is not enough, so i think saving is for the people who has above minimum wage and for rich people. Saving is good but not all people can easily do saving.

No one said that saving is easy, but this is what you should strive for. I know that in many countries the minimum wage is a very low standard of living, in my country the minimum wage is also very low, I don’t know how you can live on it, I would call it existence.

Therefore, you need to get out of this, try to find a job with a better salary, such work is always there but it may require special skills. It may take some time, but you need to increase your income.

[Twentyonepaylots]

If I were him, I would probably find another job, whatever the means, regardless of the income, so I can support myself and my family.
when you get a job, reduce your lifestyle to provide for your daily needs and your family.

The problem in finding a new job and if the salary is below than you past is that you will take time to adopt though it is still better than you dont have a job but still strive for more like find a job that is better or if not the same your previous salary so that you wont struggle and at the same time find another source of income and save because
For sure you learn your lesson from lossing your job so it is better to save for incase of emergency

I think if you are firm and confident with your ability, then you should know your value. I think being in a company for a decade created you enough credentials for your professional growth. However, if you just try to make it always bare minimum, I am not surprised that you would be offered with lower salary. Industries are becoming competitive and you should always go with the flow of making yourself be better than before. This instance really proves how important emergency fund is, that constitutes your five month salary, since it would help you survive the months without work while taking your time finding the best job and company.

[mulia sabee]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

We all needs money to meet up with the daily demands but not everyone can maintain the habit to save from the little they have for the future, the mistake we made most times is that we have expect things to be running as usual for us since we had it all going well as at that time, but things are not permanent sometimes especially when dealing with money, situations changes but what we have save up will always serve our backup whenever we experience the unexpected.

It is true that if we have accustomed ourselves to always saving for the future, sometimes there will be conditions that make our savings funds withdrawn and drained.
Even though we are used to saving, if we can't control our lifestyle or can't sort out which is more important to buy or fulfill, then our money will always run out and even savings will have to be taken away.
Then regarding the problem that was conveyed by OP, in my opinion we really have to have a backup plan because if we are still workers or laborers in a company then we cannot continue to rely on that because one day the company may go bankrupt or we may even be laid off.
Maybe while there is still time we should think about a side business by selling or creating a small business which will be a temporary way of survival if something unexpected happens to our main job.

Savings will be used or you have to take it if it's urgent, no one can predict the future.
I think reserve funds and savings are the same, savings are the reserves of money that we have for emergencies, working to save is a must that must be done by everyone facing difficult times

[HajiBagi]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

As a salary earner or business owner, the first thing you consider before starting a job is how to save some money from your pay. This is significant since you never know what circumstance you will encounter, such as personal or family troubles. Let's look at various nations where the government frequently suffers from late salary payments, many people experience this. Not only does it assist when you lose your job, it also provides assistance when a salary is not received on time.

[Haunebu]

Am more of a present focused dude which matters more to me than the past or future which is why I tend to save money less often which helped me enjoy a great lifestyle without overthinking to be honest.

Saving money in any form is always a good thing, but overdoing it due to fear is a bad thing.

[Aanuoluwatofunmi]

Any people and business investors wish having a constant savings but there are many factors that deter them from achieving having savings as desired by them, there are sone unforeseen circumstances that are inevitable and one have no option than to embrace the responsibility and the fund that could have gone on savings will definitely go for such, this makes some of them wise enough to discover another idea on source of income whereby they don't rely on their single source, but they many one or two other financial sources to help achieve their targets on income and savings level.

[Smartprofit]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

In each country, the economic crisis manifests itself in different ways....

In my country, the economy is currently undergoing a transformation and therefore new vacancies are appearing in the labor market. 

This is due to the partial mobilization (for the purposes of combat operations) of more than 300 thousand people of the most able-bodied age.  In addition, a large number of young people emigrated to other countries (Georgia, Armenia, Finland, Mongolia, Thailand, etc.).  As a result, there is a shortage of middle and top managers in the labor market.  At the same time, similar specialists with experience working in foreign companies cannot cope with this work, as they are used to focusing on job descriptions, and working in an economic crisis and difficult political realities requires completely different competencies. 

At the same time, young people are in no hurry to fill vacancies, as they fear a new wave of mobilization, in which employers will help military registration and enlistment offices to recruit their employees (mandatory) into the ranks of the armed forces.  Thus, a paradoxical situation is emerging - there are many jobs in the country, but men are in no hurry to fill the existing vacancies.  Risks and uncertainty are very high. 

In other countries, the situation is probably quite different....  Your friend needs to make decisions based on existing realities, in any even the most difficult situation you can find a way out.

[Dr.Osh]

The mistake for people who have one job is that they are so comfortable with their job that they forget to set up a business that can provide them with reassurance when they leave their main job. what you did was right. help your friends as best you can. however, you also need to save and think about a business to build. so that when that happens to you, you still have other sources of income. we never know what will happen to our work in the future. Besides, I've heard the saying, if we only have one source of income, then we only need one step to fall. So, try to think of business ideas that can provide you with sufficient additional income.

[fadhilz123]

i will if i still can save money so i can save money, then invest to business or something to gain passive income, but to go to level that is not easy, first must have income then make it bigger and can save money then the last invest it to gain passive income.

Not easy doesn't mean it can't be taken, because when you can explain it so easily, it means you already know how and the path you are going to take is already there. It's just that you need to do that to reach a level that you don't think is easy, because there are many successful people who used to struggle from small to get to a big level. So everything can be done with hard work and patience without complaining when you see something that is not very easy to do.

[samcoin]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile,

Unfortunately, inflation is hitting the whole world the hard way, and people who weren't prepared for such a financial situation are the people who suffer now. Most people are consuming their savings and some are forced to sell a property or a car.
My advice for anyone who has a bad situation is to lower their expenses to the lowest possible level and try to find another job in order to cover their needs and don't find themselves forced into selling something they own. In my opinion, the current situation won't last long, maybe till the end of this year, but one should be prepared for a longer period.

I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If you want to save money, the baddest way is to save it in the fiat form. You can buy Bitcoin or any other trustworthy crypto currency, or even gold, because the fiat currencies are going to collapse sooner or later.

[JoyMarsha]

I often advise those around me to "don't depend entirely on your day job." Get a side hustle because the job that is supporting you and your family may fire you at any time when you least expect it.

In the society we live in, nothing is guaranteed to be by our side forever. Try to engage in other side hustles so that, should this door close, you still have access to other opportunities in whatever situation you find yourself in tomorrow.

[Mahanton]

I often advise those around me to "don't depend entirely on your day job." Get a side hustle because the job that is supporting you and your family may fire you at any time when you least expect it.

In the society we live in, nothing is guaranteed to be by our side forever. Try to engage in other side hustles so that, should this door close, you still have access to other opportunities in whatever situation you find yourself in tomorrow.

I have already experienced such scenario on which i got fired on my day job and leaving me on disaster because there are not other sources on which i could depend on.I have learned a lesson into those days
but luckily i did able to find up some job that in short time and then later on i did make out to decide on having that side hustle or income on which it could give out more chances of profiting plus having the opportunity
for you to save up more aside from your daily job income. Savings is important because we dont know on what comes next into our lives on which it would be normal that unexpected things to happen
and this is where these things would be relevant and could help.

[BRINIRHA]

Any people and business investors wish having a constant savings but there are many factors that deter them from achieving having savings as desired by them, there are sone unforeseen circumstances that are inevitable and one have no option than to embrace the responsibility and the fund that could have gone on savings will definitely go for such, this makes some of them wise enough to discover another idea on source of income whereby they don't rely on their single source, but they many one or two other financial sources to help achieve their targets on income and savings level.

having more sources of income is indeed an important thing and must be done. because it can indeed help us to be easier to set aside money to save and invest. and extra income also allows us to refrain so much from shopping for pleasure. but getting extra income is not as easy as imagined. because we have to be ready to work harder and we also have to be ready to have our rest time reduced. but one thing we must not forget is that we must maintain our health. we have to work hard but we must not forget that the results of our hard work will not be enjoyed if we are in an unhealthy condition.

[Dewiana]

The first and foremost step towards surviving a tough economic condition is to avoid becoming panic stricken. Keep yourself calm and do not wait for the worst to happen. Also, keep a tab on your monthly expenses, as mostly at times things get difficult when we do not have a proper insight into what we are spending money on.

Dude, he's not alone. there are still a great many people who are in the position of losing their job, who do not have the skills and other abilities to be able to find another job quickly. My suggestion is this help your friend to gain new skills, learning something new can give him a chance to get back his roots or his job after this financial crisis.

It's true that since childhood, maybe we've heard that save a little from school snacks though a little bit, then over time without realizing that money we can buy assets or invest in other things. But we read that in the current market economy, almost all lines are squeezed, novice entrepreneurs can no longer survive
so that many are closed, there are also large companies that cut employees on a large scale with no effect able to provide wages, so the solution that we can describe as a way to save is that we continue to follow digital projects even though it's economic is down but we can still save. current crypto solution provider

[Minecache]

Am more of a present focused dude which matters more to me than the past or future which is why I tend to save money less often which helped me enjoy a great lifestyle without overthinking to be honest.

Saving money in any form is always a good thing, but overdoing it due to fear is a bad thing.

Saving means limiting spending on useless things, and not being too lavish with unnecessary things, thrift does not mean fasting, fasting, or living austerely to save. Saving won't make us rich, and we can't have a better life by saving. Instead, you should find ways to increase your income and reward yourself, not be too stingy. I like your way of life, we only have one life to live, so live it to the fullest don't be too stingy with yourself.

[mvdheuvel1983]

It is too risky to wait until danger strikes before thinking of saving. Saving starts at the point of budgeting. I can also understand why savings may be difficult in this present day. A lot of economies are facing inflation, recession, and a general meltdown. Salaries are not even enough to sustain an unmarried person not to talk of a person who is married with kids.
The income is so small that it is almost impossible to have any savings. If you can save. No matter how little save. Even if it is just 2 percent of your income or whatever money that comes into your account, save.

[Lorence.xD]

It is too risky to wait until danger strikes before thinking of saving. Saving starts at the point of budgeting. I can also understand why savings may be difficult in this present day. A lot of economies are facing inflation, recession, and a general meltdown. Salaries are not even enough to sustain an unmarried person not to talk of a person who is married with kids.

Savings should be a lifestyle if you're aiming for future consequences. Like being practical to common things before impulsively spending your money or income. It's not only applicable for "in case of emergency" type of savings such as accidents, but for future expenses that you'll have to pay soon. As the OP mentioned, it would be hard to have savings as the economic situation worsen. Since prices go up in the market but the incomes of the people remain the same. For you to overcome this situation it would be better to have proper planning to money and be practical. OP also mentioned marriage which also involved family planning that concern the financial status of a persons if they can support to build a family. If you can't, don't

The income is so small that it is almost impossible to have any savings. If you can save. No matter how little save. Even if it is just 2 percent of your income or whatever money that comes into your account, save.

Save is save, any amount would count as save as long you don't planning to use that money sooner or later. Let's always think ahead for us to be motivated to keep our money save or much better invest it. But I don't recommend it since low income which you can't afford to risk more money in a volatile system.

[Fredomago]

I often advise those around me to "don't depend entirely on your day job." Get a side hustle because the job that is supporting you and your family may fire you at any time when you least expect it.

In the society we live in, nothing is guaranteed to be by our side forever. Try to engage in other side hustles so that, should this door close, you still have access to other opportunities in whatever situation you find yourself in tomorrow.

I have already experienced such scenario on which i got fired on my day job and leaving me on disaster because there are not other sources on which i could depend on.I have learned a lesson into those days
but luckily i did able to find up some job that in short time and then later on i did make out to decide on having that side hustle or income on which it could give out more chances of profiting plus having the opportunity
for you to save up more aside from your daily job income. Savings is important because we dont know on what comes next into our lives on which it would be normal that unexpected things to happen
and this is where these things would be relevant and could help.

Limiting your expenses and practice yourself to use your money from what you need and not what you want, a very basic principles that can lead you to save some spare and be in use for emergency or for your investment, finding side jobs or money making investment would help a lot to save a good amount of money.

Though there's always difficulty when you are still starting but once you find the right path, investment might bring you decent benefits.

[Inwestour]

Saving means limiting spending on useless things, and not being too lavish with unnecessary things, thrift does not mean fasting, fasting, or living austerely to save. Saving won't make us rich, and we can't have a better life by saving. Instead, you should find ways to increase your income and reward yourself, not be too stingy. I like your way of life, we only have one life to live, so live it to the fullest don't be too stingy with yourself.

That's right, we should be focused not on how to save as much as possible, but on how to earn more. Only in this way can we ensure a good standard of living for ourselves and this will allow us to save without any damage to ourselves.

If in order to save you infringe on your desires, then this is a bad strategy, which will eventually lead to the fact that you refuse to save. If at the moment you have a small income, then focus on increasing it. This may be overtime work, or additional work after the main job. I know that many are lazy to do this, but this is what will help improve your standard of living. Try to improve your skills and find a better paying job, nothing will change in your life if you do nothing for this.

[Cryptomiles1]

finding side jobs or money making investment would help a lot to save a good amount of money.

This depends on the kind of investment you are making, I might invested with my savings today but would take longer time for my investment to yield because one thing about my life is that i am not being carried ROI rather i will love those investment that takes time to yield just as bitcoin is, one can save money maybe from reducing on the amount of house you are leaving. In my country this is what mostly consumed our money then followed by feeding, before making savings you need actually a good job to start making saving because i don't encourage those that feeds from hands to mouth to begin to save their little daily earnings.

[arimamib]

Some important points that I got in your statement where one of them is to save early while you have a steady job.  No one knows what our future will be if everything happens suddenly because the life cycle is always changing. I mean if we are not government officials, then it is appropriate for us to manage the best possible management for our future.

Someone who has a lineage from parents who have abundant wealth certainly will not be concerned about his future, but if we are from the descendants of ordinary people or live just barely from our parents it is very obligatory for us to make the best use of our income to save for the future.

Now, looking at the current era, it is very difficult to find work because in my country many people do not have permanent jobs because it is difficult to find jobs from various companies because the level of competition is quite strong.

[nur rochid]

finding side jobs or money making investment would help a lot to save a good amount of money.

This depends on the kind of investment you are making, I might invested with my savings today but would take longer time for my investment to yield because one thing about my life is that i am not being carried ROI rather i will love those investment that takes time to yield just as bitcoin is, one can save money maybe from reducing on the amount of house you are leaving. In my country this is what mostly consumed our money then followed by feeding, before making savings you need actually a good job to start making saving because i don't encourage those that feeds from hands to mouth to begin to save their little daily earnings.

it's the same as in my country where housing is our basic need that must be met, this will be felt when we already have a family, having your own home even though it's simple is a dream for a new family. after that we will be calmer to raise money and buy the next asset for saving and investing. saving every month from our income that has been set aside is a priority and later I prefer investments like bitcoin to place the money. this aims to support my old age, so that later there will be no difficulties in the family economy, no matter what I have to do it even though at this time I have to be able to live simply

[Fredomago]

finding side jobs or money making investment would help a lot to save a good amount of money.

This depends on the kind of investment you are making, I might invested with my savings today but would take longer time for my investment to yield because one thing about my life is that i am not being carried ROI rather i will love those investment that takes time to yield just as bitcoin is, one can save money maybe from reducing on the amount of house you are leaving. In my country this is what mostly consumed our money then followed by feeding, before making savings you need actually a good job to start making saving because i don't encourage those that feeds from hands to mouth to begin to save their little daily earnings.

it's the same as in my country where housing is our basic need that must be met, this will be felt when we already have a family, having your own home even though it's simple is a dream for a new family. after that we will be calmer to raise money and buy the next asset for saving and investing. saving every month from our income that has been set aside is a priority and later I prefer investments like bitcoin to place the money. this aims to support my old age, so that later there will be no difficulties in the family economy, no matter what I have to do it even though at this time I have to be able to live simply

The basic needs that will allow you make a good budget with your earnings, if you live as simple as it can be and you focus with your goals in finding the right investment to help you to grow your savings, future will be better especially if you are still young when you start investing.

There is always a fit way to invest and grow your investment. Just take time and make sure that you are working on the
right pattern in order to achieve your goals.

[Questat]

Honestly, life now is hard without saving but of course, it is not all about saving, we must also learn how to grow it and make more money from our savings. As long as we still have the chance to do it, then we must do it as we can no longer save our money when we are old and incapable to work. I know people have a hard time doing this and I admit it was challenging when doing but that just upon the start, we can adjust over time as long as we are motivated to do thiss and putting other people's life who did this already.

[Fredomago]

Honestly, life now is hard without saving but of course, it is not all about saving, we must also learn how to grow it and make more money from our savings. As long as we still have the chance to do it, then we must do it as we can no longer save our money when we are old and incapable to work. I know people have a hard time doing this and I admit it was challenging when doing but that just upon the start, we can adjust over time as long as we are motivated to do thiss and putting other people's life who did this already.

If you have that mentality you can find ways to grow your money, not just for pure savings but the sole purpose of investing will help you a lot, we don't have any limitation aside from your own ways of living or things that limits you because your salary is enough with your needs, but likewise, if you have the goal in life and you are keen in making a good success, there's always a way to make it happen just continue to try to keep limiting yourself in spending money in non-sense expenses.

[|MINER|]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

In my case I always try to keep some of my earning percentage for savings. There are some reasons behind saving, emergency health issue, I am doing this thinking about my family members and myself. Moreover, if the situation that your friend is going through suddenly comes, some percentage is also set aside to do some business.
The bottom line is that smart people never spend all of what they earn, they always save to survive in adverse environments or to develop themselves further.

[Uruhara]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

In my case I always try to keep some of my earning percentage for savings. There are some reasons behind saving, emergency health issue, I am doing this thinking about my family members and myself. Moreover, if the situation that your friend is going through suddenly comes, some percentage is also set aside to do some business.
The bottom line is that smart people never spend all of what they earn, they always save to survive in adverse environments or to develop themselves further.

well the step you took is indeed the right thing and indeed must be done by everyone. because thrifty and saving can anticipate emergencies in the future. well, especially health problems that we really can't predict. well, thinking about family members and yourself is the essence of motivation to be able to save more and save more in preparation for the future, be it for emergency funds or indeed to go to financial freedom. I personally also do the same. but now the comparison of the percentage of saving and investment that I have is more for investment.

[leonair]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If your country is suffering economically then you cannot overcome it by saving money alone. And if you don't have multiple sources of income, you won't be able to save money too. But if you can save money by reducing unnecessary expenses, even if it does not solve the economic problems of the country, you can fight with your future poverty. So saving money is always a good thing.  So you can do it. It may not improve your current standard of living but it will help fight poverty in the long run. So I think the intention of saving money is good and this thought should be awakened in everyone then the economic condition of the world can be relaxed.

[jossiel]

If your country is suffering economically then you cannot overcome it by saving money alone. And if you don't have multiple sources of income, you won't be able to save money too. But if you can save money by reducing unnecessary expenses, even if it does not solve the economic problems of the country, you can fight with your future poverty. So saving money is always a good thing.  So you can do it. It may not improve your current standard of living but it will help fight poverty in the long run. So I think the intention of saving money is good and this thought should be awakened in everyone then the economic condition of the world can be relaxed.

You'll have hard time to save money while the economic situation of your country isn't doing good. It's because goods will have to be expensive and your potential savings will just be spent on goods.

And that's why if you want to save, aside from budgeting and reducing expenses. I agree to what you're saying that you need to have other source of income.

That's how the economic ways of coping up with the situation of global economic crisis. Living from paycheck to paycheck will just give you crack in the head to find more ways of getting out of that type of living.

[Lanatsa]

If your country is suffering economically then you cannot overcome it by saving money alone. And if you don't have multiple sources of income, you won't be able to save money too. But if you can save money by reducing unnecessary expenses, even if it does not solve the economic problems of the country, you can fight with your future poverty. So saving money is always a good thing.  So you can do it. It may not improve your current standard of living but it will help fight poverty in the long run. So I think the intention of saving money is good and this thought should be awakened in everyone then the economic condition of the world can be relaxed.

You'll have hard time to save money while the economic situation of your country isn't doing good. It's because goods will have to be expensive and your potential savings will just be spent on goods.

And that's why if you want to save, aside from budgeting and reducing expenses. I agree to what you're saying that you need to have other source of income.

That's how the economic ways of coping up with the situation of global economic crisis. Living from paycheck to paycheck will just give you crack in the head to find more ways of getting out of that type of living.

When you are just really that relying on your day job salary and economic situations becomes even more worst specially on your country then for sure you would really be having a hard time on surviving.What more on having  savings? Specially when you do have a family on which you would need to supply their needs and of course it would really be varying whether these things could be simply or not basing on how much you do earn.This is why its really that relevant that you should find another way source of income on which it would be an additional on  your current earning, with this you cant really be that
having those thoughts and doubts that you could withstand for whatever crisis that might happen.

[Crypto Library]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If your country is suffering economically then you cannot overcome it by saving money alone. And if you don't have multiple sources of income, you won't be able to save money too.

You are right that saving money by alone will not a way to overcome that situation but Savings also means reducing all unnecessary expenses. And when the unnecessary expenses are reduced, then economically there will certainly be a little help. I am not talking about only one person, it should be brought to awareness among the people of the whole country when that country is in a bad economic condition.
And unnecessary expenses are not only damaging to individuals, but sometimes they are a threat to the country. If we say Sri Lanka a few days ago, the main reason for their bankruptcy is all the unnecessary projects that were not really necessary.  So I would like to say always think of savings by reducing unnecessary expenses.

[Ebede]

You can save money when you don't have a much load by Your Side but when you have a much load or I'm watch thing that is going to mean your money that is no way that you can save anything from you are payment, so people who save money are people that does not have a much load on their side or much expenses, this is the two things that is involved for earning and also spending

[concept2]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Bro, it's soul-crushing to hear about your homie's struggles. Losing a job and dealing with inflation is tough AF and can mess with your head. I'd tell him to take things one day at a time and try to keep his head up. Ain't no shame in asking fam and friends for some help either. He could also try cutting back on non-essential stuff and focusing on what he really needs. Finally, reminding him to take care of his body and mind can help him push through this rough patch.

[siniminomorocomunisakito]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. What about you ?

Maybe everyone has often heard this statement "Try to save while you can, okay?", this is indeed a challenging time for many people, and it is important to be prepared for unexpected challenges.

When it comes to saving money, I believe it's a wise decision to do so, regardless of the economic situation. Saving money can provide financial security and peace of mind, especially during difficult times. However, I also understand that saving may not be accessible to everyone, especially those struggling to make ends meet. In such cases, it may be helpful to explore other options, such as finding additional sources of income or seeking financial assistance.

I personally encourage everyone to take a proactive approach to financial planning and consider the long-term benefits of saving. By doing so, we can better prepare ourselves for the challenges life may bring.

[gunhell16]

You are good friends with the person you are referring to, if that is the case, if you are the type of person who only knows how to earn money as an employee, it is quite difficult. But they say there is no problem we can't overcome.

So as far as I can see, your friend dude will get through it, and besides, you are also there anyway ready to support him to get back up. And so far I have overcome the difficulty of my beginning here in the bitcoin industry, now somehow I know what to do if I ever come to such a situation.

[jossiel]

You'll have hard time to save money while the economic situation of your country isn't doing good. It's because goods will have to be expensive and your potential savings will just be spent on goods.

And that's why if you want to save, aside from budgeting and reducing expenses. I agree to what you're saying that you need to have other source of income.

That's how the economic ways of coping up with the situation of global economic crisis. Living from paycheck to paycheck will just give you crack in the head to find more ways of getting out of that type of living.

When you are just really that relying on your day job salary and economic situations becomes even more worst specially on your country then for sure you would really be having a hard time on surviving.What more on having  savings? Specially when you do have a family on which you would need to supply their needs and of course it would really be varying whether these things could be simply or not basing on how much you do earn.This is why its really that relevant that you should find another way source of income on which it would be an additional on  your current earning, with this you cant really be that
having those thoughts and doubts that you could withstand for whatever crisis that might happen.

On first world countries, they'll easy to make with it but then goods and things there are also becoming more expensive and with those situations that I've read and heard. They're not exempted from all of these crises.

I've felt how hard life it is compared to a few years ago pre-pandemic. Life was too simple and easy to get with and I can easily save as much as I can from the salary that I've got. However with few yet huge impact into our economies, things and life became more challenging such as saving.

[Pierre 2]

Current inflation in my country is messy one. Its possible to get low rate loans and buy things so you can protect yourself better from inflation even. But I know we are talking about global markets crisis here. Well its inevitable and %100 coming. I personally try to save money and invest in secure options. I accumulate gold and Bitcoin in general. If I had enough money I would buy flat to live but sadly I can't afford it. In long run saver/investors of today will be very relaxed economy-wise. Saving money is important.

[cafee_orange]

with a steady job and daily income, it won't be hard even though the cost of living is very high.
As for now what is burdening us all is that all the prices of basic commodities are expensive, most people have lost their jobs, and the purchasing power of the people is lacking. it shows that the global economy is currently not good. then how to deal with it?, in my opinion, first, we don't need to spend what we don't need, saving is the solution to facing an increasingly critical economy, second, do whatever can generate money even if only a little, at least you can maintain family economic stability.

[imamusma]

In my case I always try to keep some of my earning percentage for savings. There are some reasons behind saving, emergency health issue, I am doing this thinking about my family members and myself. Moreover, if the situation that your friend is going through suddenly comes, some percentage is also set aside to do some business.
The bottom line is that smart people never spend all of what they earn, they always save to survive in adverse environments or to develop themselves further.

Of most of the savings goals, then I think you have said one of them. Of course, saving money is great strategy for managing finances where the goal is to have budget whenever you need it. This budget can also be intended to be invested in various assets or for business purposes but always consider having sufficient reserves so that you are not in trouble if you need funds suddenly.

But instead of saving in fiat, I think it's a good idea to consider investing in some good performing assets like bitcoin or other physical assets. But it is also advisable to have reserve funds as I said above.

[Aanuoluwatofunmi]

No body will be asked if interested in having a savings from his earnings that would not respond positively on showing interest to that, but there are many obstacles along the way in getting this done, some people may think of meeting up with other needs base on the demands on ground and the level of how urgency they were needed to be meant, this has always been a setback to some people from having a good saving culture because they believe it what they will still need more time to achieve.

[leonair]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If your country is suffering economically then you cannot overcome it by saving money alone. And if you don't have multiple sources of income, you won't be able to save money too.

You are right that saving money by alone will not a way to overcome that situation but Savings also means reducing all unnecessary expenses. And when the unnecessary expenses are reduced, then economically there will certainly be a little help. I am not talking about only one person, it should be brought to awareness among the people of the whole country when that country is in a bad economic condition.
And unnecessary expenses are not only damaging to individuals, but sometimes they are a threat to the country. If we say Sri Lanka a few days ago, the main reason for their bankruptcy is all the unnecessary projects that were not really necessary.  So I would like to say always think of savings by reducing unnecessary expenses.

Sri Lanka is bankrupt because of wrong decisions taken by the government.  The government started many mega projects with huge loans without properly calculating the economic condition of the country.  If they could have succeeded properly according to their plans they would have gone far ahead economically but the global pandemic covid-19 has worked against their plans. And as they are not able to repay their loans on time and they completely lose their ability to repay the loans, the country is finally considered insolvent.

with a steady job and daily income, it won't be hard even though the cost of living is very high.
As for now what is burdening us all is that all the prices of basic commodities are expensive, most people have lost their jobs, and the purchasing power of the people is lacking. it shows that the global economy is currently not good. then how to deal with it?, in my opinion, first, we don't need to spend what we don't need, saving is the solution to facing an increasingly critical economy, second, do whatever can generate money even if only a little, at least you can maintain family economic stability.

A person can never live a luxurious life by earning through a job. Because in every country the prices of goods have increased so much that everyone has to spend easily $300-$400 per month and the salary of the job is not more than that. Therefore, a person cannot save money through job. So everyone has to be an entrepreneur if they want to improve themselves and the country economically and will it also reduce the unemployment rate in the country.

[Crypto Library]

Sri Lanka is bankrupt because of wrong decisions taken by the government.  The government started many mega projects with huge loans without properly calculating the economic condition of the country.  If they could have succeeded properly according to their plans they would have gone far ahead economically but the global pandemic covid-19 has worked against their plans. And as they are not able to repay their loans on time and they completely lose their ability to repay the loans, the country is finally considered insolvent.

I agree with your comment that covid-19 has worsened Sri Lanka's economic situation, but we cannot blame covid-19 as the only reason, because most of their projects have been a waste in a word, even the big projects they took.  It was not possible to earn much profit from them and their corruption was another big reason. The Sri Lankan government made mistakes while planning the projects. And all these extra expenses and unregulated loans have forced them to be bankruptcy

A person can never live a luxurious life by earning through a job. Because in every country the prices of goods have increased so much that everyone has to spend easily $300-$400 per month and the salary of the job is not more than that. Therefore, a person cannot save money through job. So everyone has to be an entrepreneur if they want to improve themselves and the country economically and will it also reduce the unemployment rate in the country.

Well said , The current state of the global economy and its impact on my country has made it very difficult for a middle class man to support himself and his family just by doing his job. The news goes on to say that most of them are finding it difficult to make ends meet with the money they are getting, and where will the savings come from. So I like your opinion in this case and I think victims of such situation should find different ways to earn and save.  In this case, doing business with new ideas is not bad.

[RockBell]

with a steady job and daily income, it won't be hard even though the cost of living is very high.
As for now what is burdening us all is that all the prices of basic commodities are expensive, most people have lost their jobs, and the purchasing power of the people is lacking. it shows that the global economy is currently not good. then how to deal with it?, in my opinion, first, we don't need to spend what we don't need, saving is the solution to facing an increasingly critical economy, second, do whatever can generate money even if only a little, at least you can maintain family economic stability.

When it comes to saving money, it's not as simple as you might believe. As you mentioned above, the standard of living is high, and the majority of people already choose to live above their means. I have some suggestions that can help you save money.

1)estimating your costs Recognize the importance of keeping track of your monthly and daily spending to determine where your money is going.

2) Make a budget and rank your needs and wants on a scale of preference.

3) Constantly make an effort to cut costs.

4) Have targets, and in order to accomplish them, you must be determined.

[FireDAOJackie_Z]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If your country is suffering economically then you cannot overcome it by saving money alone. And if you don't have multiple sources of income, you won't be able to save money too.

You are right that saving money by alone will not a way to overcome that situation but Savings also means reducing all unnecessary expenses. And when the unnecessary expenses are reduced, then economically there will certainly be a little help. I am not talking about only one person, it should be brought to awareness among the people of the whole country when that country is in a bad economic condition.
And unnecessary expenses are not only damaging to individuals, but sometimes they are a threat to the country. If we say Sri Lanka a few days ago, the main reason for their bankruptcy is all the unnecessary projects that were not really necessary.  So I would like to say always think of savings by reducing unnecessary expenses.

Sri Lanka is bankrupt because of wrong decisions taken by the government.  The government started many mega projects with huge loans without properly calculating the economic condition of the country.  If they could have succeeded properly according to their plans they would have gone far ahead economically but the global pandemic covid-19 has worked against their plans. And as they are not able to repay their loans on time and they completely lose their ability to repay the loans, the country is finally considered insolvent.

with a steady job and daily income, it won't be hard even though the cost of living is very high.
As for now what is burdening us all is that all the prices of basic commodities are expensive, most people have lost their jobs, and the purchasing power of the people is lacking. it shows that the global economy is currently not good. then how to deal with it?, in my opinion, first, we don't need to spend what we don't need, saving is the solution to facing an increasingly critical economy, second, do whatever can generate money even if only a little, at least you can maintain family economic stability.

A person can never live a luxurious life by earning through a job. Because in every country the prices of goods have increased so much that everyone has to spend easily $300-$400 per month and the salary of the job is not more than that. Therefore, a person cannot save money through job. So everyone has to be an entrepreneur if they want to improve themselves and the country economically and will it also reduce the unemployment rate in the country.

Not only Sri Lanka but also other countries in the world are experiencing economic downturn mainly because they made wrong decisions. Was Covid-19 a reason ? Of course but it was just like a catalyst, not a real cause of financial problems. Never living beyond your means also applies to countries and societies. Look at world history, all thriving civilizations and countries had managed finances well and their people would be accustomed to the functional economic systems.

Yes the prices of everything have gone up these days. We have to spend more money on basic needs like food and clothing. If the income is not good enough to cover the expenses first, it will be extremely hard to save any money for the future use. Being an entrepreneur is great but does not suit everyone. If having more sources of income is impossible, trying to save as much as we can is the only option available for ordinary people. Well, whether we like it or not, we have to live with it.

[xSkylarx]

with a steady job and daily income, it won't be hard even though the cost of living is very high.
As for now what is burdening us all is that all the prices of basic commodities are expensive, most people have lost their jobs, and the purchasing power of the people is lacking. it shows that the global economy is currently not good. then how to deal with it?, in my opinion, first, we don't need to spend what we don't need, saving is the solution to facing an increasingly critical economy, second, do whatever can generate money even if only a little, at least you can maintain family economic stability.

3) Constantly make an effort to cut costs.

I just want to elaborate on this because even I am having a hard time with this since we have a monthly salary and my mindset really is to celebrate once I receive my salary by going out to eat in a restaurant, which I thought at first was not that costly but when you track your budget you realize that it is. That is why you should avoid eating at restaurants as it is expensive. You can save more when you cook in your own house, and even having a drink is still costly.

[Litzki1990]

Planning for the future is always a smart person's job. You may be doing well now but you don't even know what is going to happen in your life in the future. So even if you think about the future, you should save money for the future.

In this present time I have seen many people who once worked as senior officers in various companies but today they have lost their jobs. And many have had their salaries halved. And such problems may increase in the future. So we must plan for the future. And one of the important things to plan for the future is to save a certain amount of money every month thinking about the future. As a result, if you have to face such danger in the future, then this saved money should work as your support.

What about you ?

I have some future plans myself. And I am trying to move step by step as I have planned my future. I divided my income amount into several parts. I will try to manage my family with one share. With one part I will try to study and the remaining part I will keep for future.

[YOSHIE]

I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

With the current economic and financial situation, people should think about how they do how to save money, you are doing the right thing OP, if you think so.

We see that almost all of the world's people complain about the economy, this is because the price of goods continues to rise and economic value continues to decline from year to year, for this reason, saving steps and thinking about saving is the best solution if they are thinking about the future. In life like now income and spending don't match, if we don't think about doing something about our own economy, then who thinks other people, of course not.

[goldkingcoiner]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If the inflation is currently not very high that does not mean it will stay that way forever. There have been many countries where a bad surprise has left people with not enough money to buy bread.

Saving fiat is good, saving BTC is better. Although personally, for me money is BTC.

The best middle alternative would be saving your fiat in the form of many different investments. Some can even be physical, like gold, if you do not trust things that you cannot touch or see with your own hands and eyes.

[odunybiz]

Saving out of ones earn may not be easy in some countries. Imagine someone earning #25,000 in Nigeria and he's with 3 children. How do you think savings will be easy in such country.

[n0ne]

Saving out of ones earn may not be easy in some countries. Imagine someone earning #25,000 in Nigeria and he's with 3 children. How do you think savings will be easy in such country.

Thats good question, there are people who plan well and execute things in a better way. What you've mentioned is the reality of the common people. Every country have similar situation. If you make a poll on how people save money, you'll get to know the reality. Everyone doesn't have lots of excess money and the same being saved. Everyone try to limit their needs, cut some of the expenses and save the amount. This is how people keeps saving amidst the need. If one's need is calculated, it'll go high above his earnings.

[blockman]

Saving out of ones earn may not be easy in some countries. Imagine someone earning #25,000 in Nigeria and he's with 3 children. How do you think savings will be easy in such country.

The same goes in my country, depending on where we live and how much minimum wage and the cost of living. There are constraints if it's about our budgets and that can't be controlled unless we find ways to increase our active and passive income. But with all of this stuff and situations, we're learning from everyone's opinion and greatly with experiences.
We don't want to live in the future that we've got nothing and we can't enjoy our mature days and that's why as much as we can even if it's challenging, saving and investing should be in our lists.

[bestcoins1]

Saving out of ones earn may not be easy in some countries. Imagine someone earning #25,000 in Nigeria and he's with 3 children. How do you think savings will be easy in such country.

Each country has a different level of income in their respective citizens and that of course has to be measured through their respective currencies so you absolutely cannot equate #25,000 in Nigeria with #25,000 in other countries because it might be #25,000 in other countries. others are much larger when compared to a country like Nigeria.

And to ensure this, I think you need to ask Nigerians directly so that there is a more appropriate explanation for this because saving is the desire of every individual to improve their own finances. So it would be more appropriate if you asked Nigerians yourself, especially since this forum also has local Nigerians, which basically you can easily find Nigerians here.

[Fredomago]

Saving out of ones earn may not be easy in some countries. Imagine someone earning #25,000 in Nigeria and he's with 3 children. How do you think savings will be easy in such country.

The same goes in my country, depending on where we live and how much minimum wage and the cost of living. There are constraints if it's about our budgets and that can't be controlled unless we find ways to increase our active and passive income. But with all of this stuff and situations, we're learning from everyone's opinion and greatly with experiences.
We don't want to live in the future that we've got nothing and we can't enjoy our mature days and that's why as much as we can even if it's challenging, saving and investing should be in our lists.

Yeah, how we act now will reflects to our future, if we can save and invest we can make good financial stability, I mean a potential financial stability that can help us to have a better life, in things like this it's important how focus we are in making things to happen, as long as you the will and the courage to take all the risk we will be able to find a good success and harvest the fruit of our patience when we start saving our money and try it to invest with any form of investment.

[Unbunplease]

In this reality, investing is one way to survive. Inflation will not allow money to be saved simply because its purchasing power is constantly decreasing. However, it is worth considering that investing - due to the lack of stability, turns into a certain kind of lottery.

[romero121]

In this reality, investing is one way to survive. Inflation will not allow money to be saved simply because its purchasing power is constantly decreasing. However, it is worth considering that investing - due to the lack of stability, turns into a certain kind of lottery.

As said investing is the best way to survive. With time the purchasing power of currencies keeps declining. However when we have some savings this can help at the needful. When it comes to investment, our mind won't accept to make use of it, if the investment is at the loss when we require it. Investment is kind of gamble when we look for immediate returns, so understand the risk and decisions need to be made. Amidst the declining purchase power of currencies it is always good to prioritise saving.

[zaki12]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

As a friend, it may be a good idea to help your friend manage their money properly, such as providing advice or recommendations for financial advice or providing helpful materials or reading resources. In this case, investing may be a good option to help your friend achieve their long-term financial goals. Because as a friend, it is an obligation to encourage or give advice to him.

Therefore saving is a very important action to prepare for an uncertain future. However, apart from savings, investment is also something that needs to be considered in order to maximize return on investment and reduce the risk of inflation. However, it is of course important to understand the risks involved in investing and only make investments that suit your risk profile and personal financial needs. By saving and investing wisely, we can ensure our financial stability in the future.

[FireDAOJackie_Z]

Saving out of ones earn may not be easy in some countries. Imagine someone earning #25,000 in Nigeria and he's with 3 children. How do you think savings will be easy in such country.

The same goes in my country, depending on where we live and how much minimum wage and the cost of living. There are constraints if it's about our budgets and that can't be controlled unless we find ways to increase our active and passive income. But with all of this stuff and situations, we're learning from everyone's opinion and greatly with experiences.
We don't want to live in the future that we've got nothing and we can't enjoy our mature days and that's why as much as we can even if it's challenging, saving and investing should be in our lists.

Yeah, how we act now will reflects to our future, if we can save and invest we can make good financial stability, I mean a potential financial stability that can help us to have a better life, in things like this it's important how focus we are in making things to happen, as long as you the will and the courage to take all the risk we will be able to find a good success and harvest the fruit of our patience when we start saving our money and try it to invest with any form of investment.

It is absolutely true for anyone to focus on their financial goal and disregard all distractions. One thing I could not understand most people's behavior is that they are very good at explaining all pros and cons of many issues but never achieved anything to feel the pros and cons in real life. Speaking of financial goals, we don't have to set a big goal as achieving million dollars but only to save dozens of bucks every week or month. Truth is, a lot of us spend too much money on unnecessary things like extra clothes, a few more beers at a bar. If we can be more self-disciplined and don't get distracted by unnecessary doings, goals will be achieved more easily.

[chrisculanag]

Saving is not easy for people like us whose income is just enough for daily expenses. We are lucky if we earn $20 per day which we know is enough and if there is anything to save, it is definitely only 1 to 5 percent especially if you are the only breadwinner for your family.

It's hard to imagine that there are countries where the wages are really low and the prices are still high on a daily basis.

The best thing I can do is find a sideline to make money online and I will turn that into a savings to have something to use in case of something important to spend. It's hard to count on a salary increase, it's better to act on our own to make things happen by saving little by little.

[xSkylarx]

Saving out of ones earn may not be easy in some countries. Imagine someone earning #25,000 in Nigeria and he's with 3 children. How do you think savings will be easy in such country.

The same goes in my country, depending on where we live and how much minimum wage and the cost of living. There are constraints if it's about our budgets and that can't be controlled unless we find ways to increase our active and passive income. But with all of this stuff and situations, we're learning from everyone's opinion and greatly with experiences.
We don't want to live in the future that we've got nothing and we can't enjoy our mature days and that's why as much as we can even if it's challenging, saving and investing should be in our lists.

Yeah, how we act now will reflects to our future, if we can save and invest we can make good financial stability, I mean a potential financial stability that can help us to have a better life, in things like this it's important how focus we are in making things to happen, as long as you the will and the courage to take all the risk we will be able to find a good success and harvest the fruit of our patience when we start saving our money and try it to invest with any form of investment.

It is absolutely true for anyone to focus on their financial goal and disregard all distractions. One thing I could not understand most people's behavior is that they are very good at explaining all pros and cons of many issues but never achieved anything to feel the pros and cons in real life. Speaking of financial goals, we don't have to set a big goal as achieving million dollars but only to save dozens of bucks every week or month. Truth is, a lot of us spend too much money on unnecessary things like extra clothes, a few more beers at a bar. If we can be more self-disciplined and don't get distracted by unnecessary doings, goals will be achieved more easily.

Setting goals is easy to do you can imagine or think of it in just one night but implementing or having it to achieve takes time its because youll going through a lot of things. We should not only think the goals , think also how will you implement it like how would you achieve and what are the process so that you can make it. That is really the best to plan out the things to do so that we are sure that we can achieve it

[Cryptmuster]

If the inflation is currently not very high that does not mean it will stay that way forever. There have been many countries where a bad surprise has left people with not enough money to buy bread.

Saving fiat is good, saving BTC is better. Although personally, for me money is BTC.

The best middle alternative would be saving your fiat in the form of many different investments. Some can even be physical, like gold, if you do not trust things that you cannot touch or see with your own hands and eyes.

Inflation will eat into the value of savings if kept in fiat, so most of it is worth keeping in something of value, like items or commodities. I saw my musical instruments rise in price due to inflation, this can also be a good way for those who understand something about instruments, since a good instrument can always be sold for a good price. But for everyone it can be their own goods in which they understand.

[Fredomago]

Saving out of ones earn may not be easy in some countries. Imagine someone earning #25,000 in Nigeria and he's with 3 children. How do you think savings will be easy in such country.

The same goes in my country, depending on where we live and how much minimum wage and the cost of living. There are constraints if it's about our budgets and that can't be controlled unless we find ways to increase our active and passive income. But with all of this stuff and situations, we're learning from everyone's opinion and greatly with experiences.
We don't want to live in the future that we've got nothing and we can't enjoy our mature days and that's why as much as we can even if it's challenging, saving and investing should be in our lists.

Yeah, how we act now will reflects to our future, if we can save and invest we can make good financial stability, I mean a potential financial stability that can help us to have a better life, in things like this it's important how focus we are in making things to happen, as long as you the will and the courage to take all the risk we will be able to find a good success and harvest the fruit of our patience when we start saving our money and try it to invest with any form of investment.

It is absolutely true for anyone to focus on their financial goal and disregard all distractions. One thing I could not understand most people's behavior is that they are very good at explaining all pros and cons of many issues but never achieved anything to feel the pros and cons in real life. Speaking of financial goals, we don't have to set a big goal as achieving million dollars but only to save dozens of bucks every week or month. Truth is, a lot of us spend too much money on unnecessary things like extra clothes, a few more beers at a bar. If we can be more self-disciplined and don't get distracted by unnecessary doings, goals will be achieved more easily.

Nothing but to agree with your statement OP, if you can utilize your expenses and you can really set the limits those save money can really help you a lot in saving your spare, if you can continue placing those spare in your savings account and you just maximizing what you can only spend and not to force things in a luxurious type of lifestyle that can push you to loan or use your credit cards, those are simple things that can reflect in a much bigger financial saving.

As a week, months or year will pass with save spare incomes, then the reflection of your financial stand will surely be felt.

[jeraldskie11]

<snip>

Any person who can face such a problem, his good situation of his life will definitely change and usually even the behavior. So for the people out there, we must be careful with our actions and words if we experience a very difficult situation like the one mentioned above. That behavior does not help our problem, it just makes it worse. I have had the same experience as him, so that's why I can say that.
So instead of focusing on the problem, let's focus on what we can do so that we can survive in our daily life.

[bangjoe]

You can save money when you don't have a much load by Your Side but when you have a much load or I'm watch thing that is going to mean your money that is no way that you can save anything from you are payment, so people who save money are people that does not have a much load on their side or much expenses, this is the two things that is involved for earning and also spending

Yes it sounds realistic, but there are some people who do it even though they have a lot of burdens, I noticed my parents who work as laborers but they can still save for certain days such as celebrations or anything that requires a lot of money to be spent even though a laborer agriculture, if calculated in an accumulated manner every month the money my father earns is of course not enough to meet the needs of his children and wife if calculated normally, but somehow he can still save, I think that whatever income we get if we respect money is better and can set aside a small portion of the money we get to save, I think it can even though it has a lot of financial burdens. Simplifying needs is one way to be able to save.

[abralzain17]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

of course we are facing gloomy times with an unstable economy so far, as for what to do now is to prepare ourselves if we also experience difficult times in the future.
the way that needs to be prepared now is to have a steady job so that there is adequate income every day or month, then it is also necessary to set aside a little for savings. and the most important thing is that there is a side job that can stabilize our finances

[Hamphser]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

of course we are facing gloomy times with an unstable economy so far, as for what to do now is to prepare ourselves if we also experience difficult times in the future.
the way that needs to be prepared now is to have a steady job so that there is adequate income every day or month, then it is also necessary to set aside a little for savings. and the most important thing is that there is a side job that can stabilize our finances

Not only on having that day stable job to have in mind but also having that side income or hustles which is something that would be putting you into a situation where you could be able to withstand on whatever

economic hardship or bad conditions you would be able to face on.Saving is should really be in default because we do know that in life, there's no such thing about guarantees for you not to be able to experience
difficulties or emergencies on which it is really just that right on having those savings or financial back ups.Not everyone is really that goodwhen it comes to this kind of condition
on which you are really that having the capability on doing so.Savings is depending on someones earning power because not all is really that earning decent.

[Fredomago]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

of course we are facing gloomy times with an unstable economy so far, as for what to do now is to prepare ourselves if we also experience difficult times in the future.
the way that needs to be prepared now is to have a steady job so that there is adequate income every day or month, then it is also necessary to set aside a little for savings. and the most important thing is that there is a side job that can stabilize our finances

Not only on having that day stable job to have in mind but also having that side income or hustles which is something that would be putting you into a situation where you could be able to withstand on whatever

economic hardship or bad conditions you would be able to face on.Saving is should really be in default because we do know that in life, there's no such thing about guarantees for you not to be able to experience
difficulties or emergencies on which it is really just that right on having those savings or financial back ups.Not everyone is really that goodwhen it comes to this kind of condition
on which you are really that having the capability on doing so.Savings is depending on someones earning power because not all is really that earning decent.

Savings depends from how you set your goals and desperately make it come true, we do have lots of difficulties as the economy of most countries are really struggling but if you know how to work it out and you can add some side hustle with your stable job, then surely you can find a way to save a good amount of money.

It's a practice that will let you continue achieving your goal to save your money, without your focus and without your determination. Saving can just only be a word of mouth but not in reality in life.

[mm2543363580]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

of course we are facing gloomy times with an unstable economy so far, as for what to do now is to prepare ourselves if we also experience difficult times in the future.
the way that needs to be prepared now is to have a steady job so that there is adequate income every day or month, then it is also necessary to set aside a little for savings. and the most important thing is that there is a side job that can stabilize our finances

Not only on having that day stable job to have in mind but also having that side income or hustles which is something that would be putting you into a situation where you could be able to withstand on whatever

economic hardship or bad conditions you would be able to face on.Saving is should really be in default because we do know that in life, there's no such thing about guarantees for you not to be able to experience
difficulties or emergencies on which it is really just that right on having those savings or financial back ups.Not everyone is really that goodwhen it comes to this kind of condition
on which you are really that having the capability on doing so.Savings is depending on someones earning power because not all is really that earning decent.

Savings depends from how you set your goals and desperately make it come true, we do have lots of difficulties as the economy of most countries are really struggling but if you know how to work it out and you can add some side hustle with your stable job, then surely you can find a way to save a good amount of money.

It's a practice that will let you continue achieving your goal to save your money, without your focus and without your determination. Saving can just only be a word of mouth but not in reality in life.

Saving can help you in short period of time for financial burdens but realistically in long run your saved money value will fall down greatly .
The rate with which currencies are depreciating and inflation rate is increasing you have to think sensibly to make use of your saved money so that it shouldn't get freeze in some bank . Rather than that invest it somewhere profitable so that you get the returns.

[fadhilz123]

Saving can help you in short period of time for financial burdens but realistically in long run your saved money value will fall down greatly .
The rate with which currencies are depreciating and inflation rate is increasing you have to think sensibly to make use of your saved money so that it shouldn't get freeze in some bank . Rather than that invest it somewhere profitable so that you get the returns.

Saving money is also not a problem if one day the money will be used to do business or open a business that can be profitable. However, if someone is afraid of losing the value of the money he has saved if it is not used for a long time, even though I don't think it is for some reason. He can save gold with some of the money he has and the rest can be used into Bitcoin investments to find more valuable profits if he can be very lucky with the investment.

[Doan9269]

If am ever placed with the opportunity to make savings then i will never hesitate from taking good use of this opportunity because it's not everyone working and earning were able to make savings drom what they get, no matter how little or much we had, we must develop a very good habits for saving some money for the sake of the future, we cannot predict wjat tomorrow may be or offer but as we all expect the good, we should also get set and olan ahead for he worst coming.

[Uruhara]

If am ever placed with the opportunity to make savings then i will never hesitate from taking good use of this opportunity because it's not everyone working and earning were able to make savings drom what they get, no matter how little or much we had, we must develop a very good habits for saving some money for the sake of the future, we cannot predict wjat tomorrow may be or offer but as we all expect the good, we should also get set and olan ahead for he worst coming.

Everyone who understands and thinks about the future, of course they will always try to save when their financial condition allows for this. but for some people, sometimes there are situations where it is very difficult to set aside money. because their income is not that big and only enough to meet their current needs. but making a more efficient lifestyle can help us to be able to save even though we don't have a large income. and saving is about habit. so need to get used to it from the start. can start with small savings but discipline and consistent.

[Salahmu]

Is always good to save money while you can, even if your salary is not much, saving a little from it is very important, should incase of emergency, because the need can arise any moment, for instance during the global Pendamic there was lack of money and Economy was down, so many people suffered to feed due to inability to save while they can.

[kingvirtus09]

If you are not a capable person, you will not be able to accumulate savings in the future for emergencies or unexpected things that will happen to you at the time you need them.  And there are also many options for you to save, either fiat itself or cryptocurrency such as Bitcoin,
it's up to you what you choose. But if you ask me, Bitcoin or another cryptocurrency that has the potential to bring you income is better.

[erep]

Everyone who understands and thinks about the future, of course they will always try to save when their financial condition allows for this. but for some people, sometimes there are situations where it is very difficult to set aside money. because their income is not that big and only enough to meet their current needs. but making a more efficient lifestyle can help us to be able to save even though we don't have a large income. and saving is about habit. so need to get used to it from the start. can start with small savings but discipline and consistent.

Savings have no limit to economic status so anyone with a low income can save according to the income earned and not necessarily every month, it can be every 2 months or more, the important point is that we have savings for urgent needs even though it will take time to reach the minimum savings value, but having savings will relieve us for urgent needs. So start saving from now and even though low income is not a barrier to being able to save, you will consistently be able to accumulate large savings in the next few months.

[Dr.Bitcoin_Strange]

Everyone who understands and thinks about the future, of course they will always try to save when their financial condition allows for this. but for some people, sometimes there are situations where it is very difficult to set aside money. because their income is not that big and only enough to meet their current needs. but making a more efficient lifestyle can help us to be able to save even though we don't have a large income. and saving is about habit. so need to get used to it from the start. can start with small savings but discipline and consistent.

As humans, we always have some primary needs and some secondary needs. Those things that we don't really need at that moment, those needs that can wait for some moments before we settle them, it's usually okay to set aside those needs at least for another month and save the money you would have used for them (set aside the need, save the money); maybe next month you get them. For example, let's say I need an earphone. While I still have an old earphone, I can manage for a month or two, so probably I can still set aside the money I intend to spend on the earphone and perhaps get it when it's totally bad. By then, I would have saved the money for that month and used my next month's salary to purchase it.

Is always good to save money while you can, even if your salary is not much, saving a little from it is very important, should incase of emergency, because the need can arise any moment, for instance during the global Pendamic there was lack of money and Economy was down, so many people suffered to feed due to inability to save while they can.

I agree with you. no matter how little a person earns, that is when you will know if they have the ability to save. There are people who earn a huge amount but don't save because they don't know how to save. but someone who is even earning a little is able to save. I just noticed that human beings ability to save is a skill that some people are bound to develop out of self-discipline, while others are just born with the skill already, some people don't have it at all so they can't save money. Also, some people's ability to save depends on being influenced by their friends and upbringing. There was a time in my life when my grandma would say to me, "Son, you need to save so that the day you don't have any money, you wouldn't be stranded but rather you would have your savings to save you from any emergency you might find yourself in. Is good to just save little by little forgoing some secondary needs for another time, no matter how small the salary is.

If you are not a capable person, you will not be able to accumulate savings in the future for emergencies or unexpected things that will happen to you at the time you need them.  And there are also many options for you to save, either fiat itself or cryptocurrency such as Bitcoin,
it's up to you what you choose. But if you ask me, Bitcoin or another cryptocurrency that has the potential to bring you income is better.

@kingvirtus09, It is good to invest or save in Bitcoin as long as you are willing to hold it and not be a weak hand that will sell when the market is bearish and dipping. It's also good to have some fiat savings for emergencies; I don't think it's really good to save Bitcoin for emergencies due to how emergencies can just arise at anytime, which could force you to sell off your Bitcoin when the price is still low. I will suggest that one invest in Bitcoin while still having some fiat.

[Uruhara]

Is always good to save money while you can, even if your salary is not much, saving a little from it is very important, should incase of emergency, because the need can arise any moment, for instance during the global Pendamic there was lack of money and Economy was down, so many people suffered to feed due to inability to save while they can.

Well, if our economic conditions allow us to save, then we really have to try to save regularly, even if it's only in small amounts. But for those who only have a mediocre income, it might not be easy to do. unless they can be more frugal in extremes. so they'll have some spare cash they can save. but it is not easy for some people. and even the attitude of saving is also difficult to make a habit if we are already used to living in luxury or like to go wild. it takes a strong desire for us to leave the habit of living in debauchery.

[JoyMarsha]

Save and have other side jobs as Mk4 has pointed out. It will be unnecessary good for a human being that tends to grow in this global financial crisis to depend on a single source of income called a job without having other side jobs of survival because you know why you can be sacked and dumped at any time when they have finished utilizing the youthful strength in you for a small pay

Saving money should be done by default, not only when financial/economic problems arise.

Don't solely stick with saving money though; attempt to increase your income by having side jobs/businesses/gigs. Growth from employee wages take a crap ton of time and effort for it to increase.

[Fredomago]

If am ever placed with the opportunity to make savings then i will never hesitate from taking good use of this opportunity because it's not everyone working and earning were able to make savings drom what they get, no matter how little or much we had, we must develop a very good habits for saving some money for the sake of the future, we cannot predict wjat tomorrow may be or offer but as we all expect the good, we should also get set and plan ahead for he worst coming.

Yeah, having the right set of plan in thinking about the future and any possible expenses for any emergency having a good amount of savings can help you to provide the need in case it happen, if you can save better to do it and not to hesitate it will give you an easier solution and help you in terms of financial needs.

Savings can also be a good source of your funds for investment. With a good amount of savings, you can start a small business or you can invest with stocks/crypto that eventually grow and bring decent benefits.

[CageMabok]

Savings have no limit to economic status so anyone with a low income can save according to the income earned and not necessarily every month, it can be every 2 months or more, the important point is that we have savings for urgent needs even though it will take time to reach the minimum savings value, but having savings will relieve us for urgent needs. So start saving from now and even though low income is not a barrier to being able to save, you will consistently be able to accumulate large savings in the next few months.

I also have almost the same opinion as what you said because saving is not about how much a person earns every month, but about how much he is willing to save even if only with a little money he takes from his income every month. Because the amount that can be saved is only limited to its size and usually everyone also saves little by little which in the end can become more with specific goals for themselves, so there will never be anything wrong for anyone who wants to save even the smallest size in their life.

[evader11]

Is always good to save money while you can, even if your salary is not much, saving a little from it is very important, should incase of emergency, because the need can arise any moment, for instance during the global Pendamic there was lack of money and Economy was down, so many people suffered to feed due to inability to save while they can.

Well, if our economic conditions allow us to save, then we really have to try to save regularly, even if it's only in small amounts. But for those who only have a mediocre income, it might not be easy to do. unless they can be more frugal in extremes. so they'll have some spare cash they can save. but it is not easy for some people. and even the attitude of saving is also difficult to make a habit if we are already used to living in luxury or like to go wild. it takes a strong desire for us to leave the habit of living in debauchery.

You are correct that saving regularly can be tough for persons on a fixed income. It may be necessary for them to be more careful of their spending patterns and make some sacrifices in order to free up income for saving. However, it's vital to remember that even tiny sums saved on a daily basis can add up over time and establish a healthy financial cushion.

[Betwrong]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Saving money isn't something anyone can afford to do, especially having family to support. If you make enough money to buy textbooks and school uniform for your kids, you are a lucky parent, and your kids are lucky too. Education is the most important thing we can give to our children. I would suggest to invest in education in any circumstances rather than saving "for hard times". (Speaking from personal experience.)

[GigaBit]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Every person needs to save as economic security for their future. If you don't have money you can't help anyone. Moreover, money is not always available to everyone. So everyone needs to have a savings to have financial support in times of need. I try to save money monthly. Although saving is not an easy thing because everyone needs a lot of money to meet their needs but still those who can ignore the cost and save, can be somewhat safe and they will be able to recover some unexpected challenges.

[Suguha]

Saving money isn't something anyone can afford to do, especially having family to support.

100% true and even they have a job/work still some of them will not be capable to save money since they have their daily expenses. We also tend to find more jobs just to save enough money for our future. Though It's hard for me to save money, Still, I'm gonna do my best to save enough since it will help if there's an unexpected thing that happens to me.

[nesty]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

That is true the inflation now is really high and a lot of people with a regular job had been lay-off in their respective companies even if they had served them for a very long time. Without a regular job it is hard to cope up with the increasing cost of leaving. The best thing to do is to find a regular job plus do side lines to cope up with the financial needs of your family. If you have a capital try to put up your own business, and if your business becomes successful then time to save up and do some investments like in crypto currencies, real estates etc.

[xSkylarx]

Saving money isn't something anyone can afford to do, especially having family to support.

100% true and even they have a job/work still some of them will not be capable to save money since they have their daily expenses. We also tend to find more jobs just to save enough money for our future. Though It's hard for me to save money, Still, I'm gonna do my best to save enough since it will help if there's an unexpected thing that happens to me.

If our income or salary is big then for sure we would be able to save but the problem is not that is why others tend to have 2 jobs at a time so that their income is big and able to save for the future but still even others that has this is unable to save because they have self discipline. For sure all of us wants to save but there are circumstances that we cant

[Betwrong]

Saving money isn't something anyone can afford to do, especially having family to support.

100% true and even they have a job/work still some of them will not be capable to save money since they have their daily expenses. We also tend to find more jobs just to save enough money for our future. Though It's hard for me to save money, Still, I'm gonna do my best to save enough since it will help if there's an unexpected thing that happens to me.

If our income or salary is big then for sure we would be able to save but the problem is not that is why others tend to have 2 jobs at a time so that their income is big and able to save for the future but still even others that has this is unable to save because they have self discipline. For sure all of us wants to save but there are circumstances that we cant

It's always the question of amount, actually. I think everyone in this thread can save $1 per month. But what would be the point of such saving? Setting a goal of accumulating $24 in 2 years can be depressing. And being depressed isn't helping anyone. I mean, you can lose much more than $24 during those 2 years because of your bad mood.

[barisbilgili]

Saving money isn't something anyone can afford to do, especially having family to support.

100% true and even they have a job/work still some of them will not be capable to save money since they have their daily expenses. We also tend to find more jobs just to save enough money for our future. Though It's hard for me to save money, Still, I'm gonna do my best to save enough since it will help if there's an unexpected thing that happens to me.

If our income or salary is big then for sure we would be able to save but the problem is not that is why others tend to have 2 jobs at a time so that their income is big and able to save for the future but still even others that has this is unable to save because they have self discipline. For sure all of us wants to save but there are circumstances that we cant

It's always the question of amount, actually. I think everyone in this thread can save $1 per month. But what would be the point of such saving? Setting a goal of accumulating $24 in 2 years can be depressing. And being depressed isn't helping anyone. I mean, you can lose much more than $24 during those 2 years because of your bad mood.

it's true and i experienced it though not with savings for 2 years. laugh out loud
if saving is meant like that in my opinion it is very bad and even worse things will be experienced when our hearts are not good and many things happen that are out of our control.
saving is not setting aside money every month but saving after all needs and desires are met and adding income every month to be able to set aside or save.
and also saving is not holding back to meet a need or desire for oneself, that is stingy.

[Uruhara]

Saving money isn't something anyone can afford to do, especially having family to support.

100% true and even they have a job/work still some of them will not be capable to save money since they have their daily expenses. We also tend to find more jobs just to save enough money for our future. Though It's hard for me to save money, Still, I'm gonna do my best to save enough since it will help if there's an unexpected thing that happens to me.

If our income or salary is big then for sure we would be able to save but the problem is not that is why others tend to have 2 jobs at a time so that their income is big and able to save for the future but still even others that has this is unable to save because they have self discipline. For sure all of us wants to save but there are circumstances that we cant

It's always the question of amount, actually. I think everyone in this thread can save $1 per month. But what would be the point of such saving? Setting a goal of accumulating $24 in 2 years can be depressing. And being depressed isn't helping anyone. I mean, you can lose much more than $24 during those 2 years because of your bad mood.

Well that is indeed difficult to do. Especially if that person has the same amount of income as the number of needs that must be met. Then of course it is not easy to set aside money for savings. and well setting aside just $1 won't make much of an impact. Then the solution that we can think of might be by cutting spending more. but if that is also not possible. then another solution is to seek additional income through a side business. but not everyone can do it. and if you can't do that then I don't think there is any other solution.

[Inwestour]

Well that is indeed difficult to do. Especially if that person has the same amount of income as the number of needs that must be met. Then of course it is not easy to set aside money for savings. and well setting aside just $1 won't make much of an impact. Then the solution that we can think of might be by cutting spending more. but if that is also not possible. then another solution is to seek additional income through a side business. but not everyone can do it. and if you can't do that then I don't think there is any other solution.

There may not be time for additional work, or it will be detrimental to the family. In this case, the optimal outcome would be to try to increase the salary at the current job, or find a higher paying job. Only in this case is it important that additional earnings be set aside for further investment, since you can always find where to spend money, especially when there is only enough money to meet your most necessary needs.

Everything about additional work should be agreed with the family, if you have one. If there is no family yet, then this will be easier to do, but you still need to think about how it is comfortable and you have time for personal time.

[Dalib]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If I were in your friend's shoes, I would explore various avenues to support my family. This may include looking for new job opportunities, starting a business on the side, reskilling or acquiring new skills to enhance employability, cutting down on expenses, or seeking financial assistance from family and friends.

As a friend, you are doing the right thing by supporting and helping him as much as you can. You can also provide emotional support by listening and offering words of encouragement during this tough time.

Additionally, it's wise to prepare for the unexpected challenges in life by saving more money and investing in assets that can provide protection against inflation. It's always better to be proactive and prepared than to wait for things to happen and then react.

[GigaBit]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If I were in your friend's shoes, I would explore various avenues to support my family. This may include looking for new job opportunities, starting a business on the side, reskilling or acquiring new skills to enhance employability, cutting down on expenses, or seeking financial assistance from family and friends.

As a friend, you are doing the right thing by supporting and helping him as much as you can. You can also provide emotional support by listening and offering words of encouragement during this tough time.

Additionally, it's wise to prepare for the unexpected challenges in life by saving more money and investing in assets that can provide protection against inflation. It's always better to be proactive and prepared than to wait for things to happen and then react.

Any unexpected event in human life can happen at any time. He must always be prepared. When a  man is unable to balance the difference between income and expenditure, he naturally leads a miserable life. In recent times inflation has affected everyone's life quite a lot. If someone loses his job during this time then no one will be more unhappy than him. If one can save good money in this situation then he can feel quite comfortable. I think every man should save. This savings will be able to provide great support at any time in life.

[Unbunplease]

Any unexpected event in human life can happen at any time. He must always be prepared. When a  man is unable to balance the difference between income and expenditure, he naturally leads a miserable life. In recent times inflation has affected everyone's life quite a lot. If someone loses his job during this time then no one will be more unhappy than him. If one can save good money in this situation then he can feel quite comfortable. I think every man should save. This savings will be able to provide great support at any time in life.

Saving should be reasonable. There was such a Plyushkin in Gogol's Dead Souls. He was so economical that he wore rags and ate rotten food, even though he had plenty of money.  Life passes quickly, and you should not deny yourself basic pleasures because of excessive savings. You can make it a rule to set aside a certain portion of your income, but certainly not a large portion.

[aksplace]

Any unexpected event in human life can happen at any time. He must always be prepared. When a  man is unable to balance the difference between income and expenditure, he naturally leads a miserable life. In recent times inflation has affected everyone's life quite a lot. If someone loses his job during this time then no one will be more unhappy than him. If one can save good money in this situation then he can feel quite comfortable. I think every man should save. This savings will be able to provide great support at any time in life.

We can't live on savings if we don't look for a new job immediately to increase our savings yield, the company's economic recovery factor has increased so many job opportunities will be opened because they will recruit new workers, so don't waste this great opportunity and our economy must recover from the impact of the pandemic and inflation has passed, hurry up for a new job.

[carlfebz2]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If I were in your friend's shoes, I would explore various avenues to support my family. This may include looking for new job opportunities, starting a business on the side, reskilling or acquiring new skills to enhance employability, cutting down on expenses, or seeking financial assistance from family and friends.

As a friend, you are doing the right thing by supporting and helping him as much as you can. You can also provide emotional support by listening and offering words of encouragement during this tough time.

Additionally, it's wise to prepare for the unexpected challenges in life by saving more money and investing in assets that can provide protection against inflation. It's always better to be proactive and prepared than to wait for things to happen and then react.

Any unexpected event in human life can happen at any time. He must always be prepared. When a  man is unable to balance the difference between income and expenditure, he naturally leads a miserable life. In recent times inflation has affected everyone's life quite a lot. If someone loses his job during this time then no one will be more unhappy than him. If one can save good money in this situation then he can feel quite comfortable. I think every man should save. This savings will be able to provide great support at any time in life.

Unless if youre being born on having a rich family
Unless if you do have lots of multiple sources
Unless if you do have big or huge inheritance in terms of money
Unless if you do have multiple works literally

Then you wouldnt mind about having no savings on which you do know deep inside that even emergencies do come, you could still able to pay up on whatever the amount which is involved.
It wont really be that shocking thing since you do know that you do have the money to spend but we know that in life there's always imbalanced on which if there's rich
then there are poor ones.

If you are on the bracket on which you do heavily rely on your day job then it would really be just sensible that you should really be that prepared and making having that
savings so that whenever there are emergencies then you would really get prepared.

[summonerrk]

Any unexpected event in human life can happen at any time. He must always be prepared. When a  man is unable to balance the difference between income and expenditure, he naturally leads a miserable life. In recent times inflation has affected everyone's life quite a lot. If someone loses his job during this time then no one will be more unhappy than him. If one can save good money in this situation then he can feel quite comfortable. I think every man should save. This savings will be able to provide great support at any time in life.

Saving should be reasonable. There was such a Plyushkin in Gogol's Dead Souls. He was so economical that he wore rags and ate rotten food, even though he had plenty of money.  Life passes quickly, and you should not deny yourself basic pleasures because of excessive savings. You can make it a rule to set aside a certain portion of your income, but certainly not a large portion.

Such insane savings will always result in even greater waste of money. Bad food will lead to problems with well-being, and ragged clothes make unrepresentative and ruin prospects in social terms.
But I can give the most striking example from our real life - if someone saves on dental treatment, he always pays twice, if not more.

Therefore, rich people and rich people, they buy expensive things, but for a long time, the same thing with food - they take high-quality food, and then do not spend on health

[uche6215]

The aspect of saving money depends on the amount of salary one revives after profession, it's good for someone to get a job that is well paid more than his or her monthly bills, if your salary is 100% and your bills expenses is 40% to 50% then you can save money or if you have more than one or two franchises these are the only ways someone can save money.
Just imagine a salary of $1000 a month and your bills and additional expenses are $900 how can you save? That's why I once said if you are working, is good to work in a place where your salary is two to three times bigger than your bills.

[Alisha-k]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

lot of people over look this part of life and it is a necessity, a very strong one at that.
Like, even when you're an entrepreneur, it is expected that you save for unexpected situations talk more of when you work under people, you could be laid off without incentives at any time so why not save while you can??

[sulendra12]

Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family.

It's a tough condition for him, my condolences.
Pretty common to lose the job with this economy condition and it's pretty sad to see especially if it was his only job.

If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Having a saving account and money would be a great idea to do when you have a chance to spare your money from your salary to save. At least when you lose your job, you won't be miserable for few moments until you get your new job. You think that it's enough to just make it with your monthly salary but we don't know what will happen next, so better safe than sorry.

[n0ne]

Savings is the basic for investing. Most of the time people find investing to be risky and stay away from it and never look at the profit it provides. There is a saying which could help you turn rich someday.

• Have an insurance, because it'll help you avoid miscellaneous and emergency needs
• Save and invest, when you feel you don't have good capital
• Learn during the process and with the profit out of investment try to have income coming from different streams

[Andrija Branislav]

Saving money should be done by default, not only when financial/economic problems arise.

Don't solely stick with saving money though; attempt to increase your income by having side jobs/businesses/gigs. Growth from employee wages take a crap ton of time and effort for it to increase.

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

[Betwrong]

~

it's true and i experienced it though not with savings for 2 years. laugh out loud
if saving is meant like that in my opinion it is very bad and even worse things will be experienced when our hearts are not good and many things happen that are out of our control.
saving is not setting aside money every month but saving after all needs and desires are met and adding income every month to be able to set aside or save.
and also saving is not holding back to meet a need or desire for oneself, that is stingy.

Idk , I think even billionaires never think that all their needs and desires are met. But if it's like this in your case, I can only say, good for you! I and other people should make an example of you. Usually people want to spend more and more, and their wages are not keeping up with their "needs". I put that word in quotes because more often than not they might live perfectly without all those things they think they can't live without.

[Wildwest]

in this journey of life we ​​do have problems with finances and this is indeed felt by many people, so saving some of our hard work for the future we really have to do for now because there are things that we don't expect can happen and can be devastating our income and it will be difficult to get back to a job that used to be able to help our economy in everyday life, whatever we are doing at this time must have a target to be able to buy something that we will enjoy later, because there are still many expenses that we have to spend if we are still alive and meet the needs of the family, thrifty is something we have to do but don't overdo it.

[jossiel]

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

When I've asked financial advisors, they're always telling the same thing and that's to have an EF, yes emergency funds. And it's like having a 3-6 months of EF based from your monthly salary.

If one can have that and directs into investments, that's still a good strategy. IMHO, whatever works for your perfectly, you need to be consistent with that.

And if you're able to build your investments then it's time to have the EF focused until you match what's the recommended amount.

[DevilSlayer]

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

When I've asked financial advisors, they're always telling the same thing and that's to have an EF, yes emergency funds. And it's like having a 3-6 months of EF based from your monthly salary.

If one can have that and directs into investments, that's still a good strategy. IMHO, whatever works for your perfectly, you need to be consistent with that.

And if you're able to build your investments then it's time to have the EF focused until you match what's the recommended amount.

Emergency funds are important because you can never know what will happen so better if you have funds that you can use if you experience unexpected situations wherein, you need money for you able to overcome it. Majority of the normal persons, do not have it because they do not really know its real purpose and that is the reason why they are struggling especially when they face emergency situations. For me it is important and consider as necessity especially if you will also make an investment in crypto market.

You need it as a safety net that you can use if you experience huge setback or incur losses but make sure that your priority is a lot more towards investing and not savings. As for me, better to save your 15% of your monthly income, put the 45% of your income to investment and lastly put the 40% to your basic needs and necessity.

[Kelward]

Saving money should be a necessity for anyone because of eventualities like accident, lose of job, old age, children education, the list is endless. Every body loves to save but problems arises when your income can not even take care of your miscellaneous expenses. What do you do? You must find a side business or investment, by all means. Otherwise depending on one source of income becomes a risk. Because what ever happens to that business is one way ticket to poverty.

This is why every body must became innovative and think outside their comfort zone.

[Cling18]

Because we can't predict what the future may hold, we must prepare by understanding the true worth and significance of saving in order to avoid hardships if unforeseen events were to recur in the future. We should draw lessons from the last pandemic, in which the majority of us lost our jobs and had no one on which to rely. Since we have no idea how saving might be able to save us, we should practice self-control, resist the impulse to acquire unnecessary items, and instead put our attention on planning for the future. We must approach saving as though it were already a component of our long-term financial strategy.

[ItsCrafty]

Actually in every country there is inflation on its peak may be its due to huge population with minimum resources and may be its due to the lack of job. One can easily survive with minimum cost under harsh situations if he overcome his expenses and reduces using of that things which are more expense so in such way a person can save some amount of money from his salary.

We can talk about investment but we have to teach them about how to minimize daily expenses and how to save money and then how to invest this saved amount and in which coin. May be its take some time but surely one can do it if he is interested in doing so.

[jossiel]

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

When I've asked financial advisors, they're always telling the same thing and that's to have an EF, yes emergency funds. And it's like having a 3-6 months of EF based from your monthly salary.

If one can have that and directs into investments, that's still a good strategy. IMHO, whatever works for your perfectly, you need to be consistent with that.

And if you're able to build your investments then it's time to have the EF focused until you match what's the recommended amount.

Emergency funds are important because you can never know what will happen so better if you have funds that you can use if you experience unexpected situations wherein, you need money for you able to overcome it. Majority of the normal persons, do not have it because they do not really know its real purpose and that is the reason why they are struggling especially when they face emergency situations. For me it is important and consider as necessity especially if you will also make an investment in crypto market.

You need it as a safety net that you can use if you experience huge setback or incur losses but make sure that your priority is a lot more towards investing and not savings. As for me, better to save your 15% of your monthly income, put the 45% of your income to investment and lastly put the 40% to your basic needs and necessity.

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

[LastKiss]

Actually in every country there is inflation on its peak may be its due to huge population with minimum resources and may be its due to the lack of job. One can easily survive with minimum cost under harsh situations if he overcome his expenses and reduces using of that things which are more expense so in such way a person can save some amount of money from his salary.

We can talk about investment but we have to teach them about how to minimize daily expenses and how to save money and then how to invest this saved amount and in which coin. May be its take some time but surely one can do it if he is interested in doing so.

I agree minimizing our daily expenses is really helpful especially when inflation is coming, since many people are really wasteful there because they're spending for what they don't need, all is that for getting attention from other people like their friends, BF/GF, etc. In this big inflation, I tried to minimize my daily expenses and it really worked because I don't need to look for a loan or another job to survive. Being grateful for what we already have is needed if we want to minimize our daily expenses.

[carlfebz2]

Great advice, always a wise decision to save money as early as possible. Thus, one can collect an emergency fund, save for future investment, and prepare for unforeseen circumstances.

I think this is the main point, as a second backup through a side job, whether business or otherwise, at least provides additional financial security to achieve financial independence and achieve financial goals more quickly.

When I've asked financial advisors, they're always telling the same thing and that's to have an EF, yes emergency funds. And it's like having a 3-6 months of EF based from your monthly salary.

If one can have that and directs into investments, that's still a good strategy. IMHO, whatever works for your perfectly, you need to be consistent with that.

And if you're able to build your investments then it's time to have the EF focused until you match what's the recommended amount.

Emergency funds are important because you can never know what will happen so better if you have funds that you can use if you experience unexpected situations wherein, you need money for you able to overcome it. Majority of the normal persons, do not have it because they do not really know its real purpose and that is the reason why they are struggling especially when they face emergency situations. For me it is important and consider as necessity especially if you will also make an investment in crypto market.

You need it as a safety net that you can use if you experience huge setback or incur losses but make sure that your priority is a lot more towards investing and not savings. As for me, better to save your 15% of your monthly income, put the 45% of your income to investment and lastly put the 40% to your basic needs and necessity.

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

[jossiel]

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

[Yanalli]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

life will become more expensive even more, the main thing is to get together and try to find a job, even if your friend has no experience in it. It is better to always postpone some part of your earnings, force majeure always happens. Moreover, nowadays it is very difficult to plan and think ahead, so you need to try to work and postpone.

[monineklutak]

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

Do not let yourself be controlled by excessive lust because it only harms yourself,
I think we have to realize how important it is to save expenses and start setting aside to save,
Obviously avoid impulse shopping.

[jossiel]

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

Do not let yourself be controlled by excessive lust because it only harms yourself,
I think we have to realize how important it is to save expenses and start setting aside to save,
Obviously avoid impulse shopping.

Those that still don't realize that they're impulsive buyers of nonsense and things that they don't need will soon have to sell those in their times they need cash.

When the time has come and things are too difficult for a person that likes to do these unstoppable shopping spree for the things that they don't need.

That's the right time they'll start to be savvy and give importance to every penny they earn.

[xSkylarx]

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

Do not let yourself be controlled by excessive lust because it only harms yourself,
I think we have to realize how important it is to save expenses and start setting aside to save,
Obviously avoid impulse shopping.

People will only notice this when they already need the money. I can relate to this before when I still don't have family. I always buy my wants and don't think about how I'll survive for a week just because it's your payday, but again, you'll learn hard from it because you'll go through something that will make you realize that you shouldn't buy those things as they can't help you; it is just a temporary happiness.

[glendall]

Saving money should be a necessity for anyone because of eventualities like accident, lose of job, old age, children education, the list is endless. Every body loves to save but problems arises when your income can not even take care of your miscellaneous expenses. What do you do? You must find a side business or investment, by all means. Otherwise depending on one source of income becomes a risk. Because what ever happens to that business is one way ticket to poverty.

This is why every body must became innovative and think outside their comfort zone.

but sometimes people fall asleep in their comfort zone and they will realize where  are all gone or finished.

saving is a real need, but sometimes lifestyle makes people become consumptive, not thinking ahead for a better life, what in their minds is that they have to update in every session of life

[|MINER|]

but sometimes people fall asleep in their comfort zone and they will realize where  are all gone or finished.
saving is a real need, but sometimes lifestyle makes people become consumptive, not thinking ahead for a better life, what in their minds is that they have to update in every session of life

In fact, it is the nature of the human race, most of the peoples have this trait that they understand when under pressure. They sense when danger is at the door and there is no other way to do anything. So when money comes in our hands, most of us waste money without thinking about the future and don't savings also. So we should change our habit and save money for savings as soon as we have money in hand before the danger comes.

[stomachgrowls]

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

Do not let yourself be controlled by excessive lust because it only harms yourself,
I think we have to realize how important it is to save expenses and start setting aside to save,
Obviously avoid impulse shopping.

People will only notice this when they already need the money. I can relate to this before when I still don't have family. I always buy my wants and don't think about how I'll survive for a week just because it's your payday, but again, you'll learn hard from it because you'll go through something that will make you realize that you shouldn't buy those things as they can't help you; it is just a temporary happiness.

Wont really be that bad when it comes to buying up your wants as long it would really be that in controlled manner or something which is really still that balanced but on the time that you are already buying up things or wants you do like and doesnt bother about on the remaining money you  do have then this is where problem would kick in.Its true that people would really be seeing the importance of this on the time that they would really be on a hard situation on which they would really be making those realizations.

It would really be that ideal that you should really be that trying to avoid and making some changes if ever you do see or have those bad habits when it comes to finances then  you would definitely be able to experience those bad things later on.Savings does really have that huge role or purpose on the time that you would really be needing it. It is really just that there are people
who do just neglect it out just because they are still earning currently but on the time that they would losing up their income sources then for sure it would
really be that a huge problem.

[rahmad2nd]

If the OP could pull it off as per the title of this thread, and have a decent job that pays well worth it. then do it, at least it's better than you wasting it. let's reflect for a moment, around us, there are many people who are not well off. even to meet their standard of living, they have to look for additional work. since post-covid, the Russia-Ukraine conflict, its impact on the economy has been felt in all sectors. it's hard to find a job, even if there is one, the salary we get is below the minimum wage.
In other parts of the world, there are still many hungry people. don't save, just to get food today, it's very difficult for those who are lacking. so, share those of you who still have decent jobs.

If saving is good for you, then do it. but before that, you must have a plan and know what you are saving for. at least, you have a goal to save. By the way, in life, sometimes things come unexpectedly. good and bad in life, is a cyclical process that everyone can experience.

[Unbunplease]

In fact, it is the nature of the human race, most of the peoples have this trait that they understand when under pressure. They sense when danger is at the door and there is no other way to do anything. So when money comes in our hands, most of us waste money without thinking about the future and don't savings also. So we should change our habit and save money for savings as soon as we have money in hand before the danger comes.

You never know how much money you might need. Sometimes very big events happen, and saving may not be enough. That's why saving money is not a panacea. You need to look for good investment options to have a steady passive income. Passive income will at least keep your money from inflation.

[axxo]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Sad to hear your friend's situation. It is really difficult time for him and his family. If I were in his shoes, I would assess first my financial situation and I will prioritize my expenses. I would cut cost on my unnecessary expenses and I will prioritize on the basic essentials that is needed, such as house rent, food and utilities. To increase my income I would look for some other ways like finding a part time job or a freelance job. I would reach out as well to my connections maybe they could provide support or financial assistance if ever i wont find other part time job.

[slapper]

It's not known by many.

And that is because people are just living from paycheck to paycheck and that's hard for them to accumulate such fund and that's all due to the low income and too many obligations to fill.

For me, any amount or percentage of money you get from your salary or source and being placed on investments or savings, that's already a good practice that you need to be consistent.

Easy to say but when you are already on that actual situation or condition then this is something the most challenging thing that you would be facing on on which on the time that you are just really just recieving that single source of income and you do have lots of bills and expenses which you would really be needing to pay up and ending up you would really be overdropped if you dont able to handle your finances well.
This is why it would be always ideal that you should really be wise on your spending and as much as possible you should be mindful or trying out your best to have another source of income.

Saving up money is always been that recommendable because this isnt really just for emergency but also for investment purposes which is really mainly the reason or common purpose
when you do have savings. Dont spend out on things which arent that important or something that useful because not all the time we do really have money in our pocket
which it is really that ideal on always be prepared.

With things and inflation today, it's teaching everyone to live not beyond their means.

And every activity that will grow them in saving money and lessen in spending unnecessarily, is what this season is teaching us. Right, that we shouldn't spend on unimportant things if it's not really needed at all.

No one is stopped in spending for their own reward but you know when it should be applicable.

Do not let yourself be controlled by excessive lust because it only harms yourself,
I think we have to realize how important it is to save expenses and start setting aside to save,
Obviously avoid impulse shopping.

People will only notice this when they already need the money. I can relate to this before when I still don't have family. I always buy my wants and don't think about how I'll survive for a week just because it's your payday, but again, you'll learn hard from it because you'll go through something that will make you realize that you shouldn't buy those things as they can't help you; it is just a temporary happiness.

Wont really be that bad when it comes to buying up your wants as long it would really be that in controlled manner or something which is really still that balanced but on the time that you are already buying up things or wants you do like and doesnt bother about on the remaining money you  do have then this is where problem would kick in.Its true that people would really be seeing the importance of this on the time that they would really be on a hard situation on which they would really be making those realizations.

It would really be that ideal that you should really be that trying to avoid and making some changes if ever you do see or have those bad habits when it comes to finances then  you would definitely be able to experience those bad things later on.Savings does really have that huge role or purpose on the time that you would really be needing it. It is really just that there are people
who do just neglect it out just because they are still earning currently but on the time that they would losing up their income sources then for sure it would
really be that a huge problem.

Disagreeing big time – savings matter only in dire straits? Wrong! It's crucial, folks, to start early, build good habits, and secure a future like a high-rolling tycoon. Priorities, people. Make smart money moves. Tempted by new kicks? Think, is it worth gambling your stability? In the end, it's our call. But savings? Making it top priority from day one sets us on the path to a fantastic financial future. No kidding!

[GideonGono]

If you have a regular income you should really start to save up as much as you could to secure your future, specially for those who works and wants to retire at an early age.
Save up and invest any amount each time you get your salary so that you would have an extra income and funds for your future.

[Betwrong]

If the OP could pull it off as per the title of this thread, and have a decent job that pays well worth it. then do it, at least it's better than you wasting it. let's reflect for a moment, around us, there are many people who are not well off. even to meet their standard of living, they have to look for additional work. since post-covid, the Russia-Ukraine conflict, its impact on the economy has been felt in all sectors. it's hard to find a job, even if there is one, the salary we get is below the minimum wage.
In other parts of the world, there are still many hungry people. don't save, just to get food today, it's very difficult for those who are lacking. so, share those of you who still have decent jobs.

If saving is good for you, then do it. but before that, you must have a plan and know what you are saving for. at least, you have a goal to save. By the way, in life, sometimes things come unexpectedly. good and bad in life, is a cyclical process that everyone can experience.

Yes, and during those "bad times" you might need what you've saved, no doubt about it. But even if you'll never need to spend those saved money, it's a good habit to not spend all you earn at once. Realizing that you can actually live with smaller amount makes you less dependent on your current salary, and one day you may consider moving for a less paying job but less exhausting too. We need that move sometimes to have more time to spend with our family, to learn new things etc.

[Raceonsucced]

saving is a great thing. especially if we save or save emergency money. From your story, indeed the work will not be intact forever. So, while there is still money we have to be more efficient.

And your friend, can find another job or if he has money. He could turn that money into a small business. Because it is very difficult to find a job in the company today. So, it is better that he can start a small business.

[FireDAOJackie_Z]

If the OP could pull it off as per the title of this thread, and have a decent job that pays well worth it. then do it, at least it's better than you wasting it. let's reflect for a moment, around us, there are many people who are not well off. even to meet their standard of living, they have to look for additional work. since post-covid, the Russia-Ukraine conflict, its impact on the economy has been felt in all sectors. it's hard to find a job, even if there is one, the salary we get is below the minimum wage.
In other parts of the world, there are still many hungry people. don't save, just to get food today, it's very difficult for those who are lacking. so, share those of you who still have decent jobs.

If saving is good for you, then do it. but before that, you must have a plan and know what you are saving for. at least, you have a goal to save. By the way, in life, sometimes things come unexpectedly. good and bad in life, is a cyclical process that everyone can experience.

Yes, and during those "bad times" you might need what you've saved, no doubt about it. But even if you'll never need to spend those saved money, it's a good habit to not spend all you earn at once. Realizing that you can actually live with smaller amount makes you less dependent on your current salary, and one day you may consider moving for a less paying job but less exhausting too. We need that move sometimes to have more time to spend with our family, to learn new things etc.

Indeed. Your point is an excellent example of life-work balance. Saving is a beneficial habit for anyone, especially for those with a long term goal. We work to live and work for life, not vice versa. Sometimes we need to make choices over making less money/working less hours for spending more time with family or simply for yourself. Nowadays not many people can calm down and rethink about life and our most valuable time. I have always been a hard worker but known this clearly that life is larger than work.

[xSkylarx]

If the OP could pull it off as per the title of this thread, and have a decent job that pays well worth it. then do it, at least it's better than you wasting it. let's reflect for a moment, around us, there are many people who are not well off. even to meet their standard of living, they have to look for additional work. since post-covid, the Russia-Ukraine conflict, its impact on the economy has been felt in all sectors. it's hard to find a job, even if there is one, the salary we get is below the minimum wage.
In other parts of the world, there are still many hungry people. don't save, just to get food today, it's very difficult for those who are lacking. so, share those of you who still have decent jobs.

If saving is good for you, then do it. but before that, you must have a plan and know what you are saving for. at least, you have a goal to save. By the way, in life, sometimes things come unexpectedly. good and bad in life, is a cyclical process that everyone can experience.

Yes, and during those "bad times" you might need what you've saved, no doubt about it. But even if you'll never need to spend those saved money, it's a good habit to not spend all you earn at once. Realizing that you can actually live with smaller amount makes you less dependent on your current salary, and one day you may consider moving for a less paying job but less exhausting too. We need that move sometimes to have more time to spend with our family, to learn new things etc.

Indeed. Your point is an excellent example of life-work balance. Saving is a beneficial habit for anyone, especially for those with a long term goal. We work to live and work for life, not vice versa. Sometimes we need to make choices over making less money/working less hours for spending more time with family or simply for yourself. Nowadays not many people can calm down and rethink about life and our most valuable time. I have always been a hard worker but known this clearly that life is larger than work.

You'll missed your child getting bigger which is true because of we keep chasing the money we forgot to have time in our family but again we do the hardwork for our family we work hard just to make their life comfortable even we keep sacrificing our time for them. Even my self if i do have a high salary right now i prefer to be with my family but the opportunity is not possible because i need to do a side hustle just to give them what they want but even i work hard it is still not enough. We really need to sacrifice things even we dont want to as we prefer struggling than they are struggling

[kro55]

If the OP could pull it off as per the title of this thread, and have a decent job that pays well worth it. then do it, at least it's better than you wasting it. let's reflect for a moment, around us, there are many people who are not well off. even to meet their standard of living, they have to look for additional work. since post-covid, the Russia-Ukraine conflict, its impact on the economy has been felt in all sectors. it's hard to find a job, even if there is one, the salary we get is below the minimum wage.
In other parts of the world, there are still many hungry people. don't save, just to get food today, it's very difficult for those who are lacking. so, share those of you who still have decent jobs.

If saving is good for you, then do it. but before that, you must have a plan and know what you are saving for. at least, you have a goal to save. By the way, in life, sometimes things come unexpectedly. good and bad in life, is a cyclical process that everyone can experience.

Yes, and during those "bad times" you might need what you've saved, no doubt about it. But even if you'll never need to spend those saved money, it's a good habit to not spend all you earn at once. Realizing that you can actually live with smaller amount makes you less dependent on your current salary, and one day you may consider moving for a less paying job but less exhausting too. We need that move sometimes to have more time to spend with our family, to learn new things etc.

Indeed. Your point is an excellent example of life-work balance. Saving is a beneficial habit for anyone, especially for those with a long term goal. We work to live and work for life, not vice versa. Sometimes we need to make choices over making less money/working less hours for spending more time with family or simply for yourself. Nowadays not many people can calm down and rethink about life and our most valuable time. I have always been a hard worker but known this clearly that life is larger than work.

For me, saving is important and imperative, although I don't have a goal for that, but in life, there are always surprises that we can't anticipate, it will help us in that case.  Currently, my income is quite stable compared to the average income in my country. But I never thought that I would stop saving because I have a better income than others. As you said, there will come a time when we, too, have to choose between making less money and spending time on other things. Because life is very short, but there are many things to take care of, not just work or money.

[Uruhara]

saving is a great thing. especially if we save or save emergency money. From your story, indeed the work will not be intact forever. So, while there is still money we have to be more efficient.

And your friend, can find another job or if he has money. He could turn that money into a small business. Because it is very difficult to find a job in the company today. So, it is better that he can start a small business.

OP's friend can only make the choice to rely on the remaining money he has to use as capital for a small business so that he can still bring in income, even if it's only a little. or he can also use it to make job applications and find other jobs that can accept him working even if only with a minimum wage. Because at least now we have to be able to maintain income even though it's not big. because it is not easy to survive in the current economic situation when you have no income. and it is indeed important to be able to save while we still have income. so that we are ready for a future that we don't know what it will be like.

[Kadal Ijo]

I think the most important thing to make life better and easier is to keep saving money, unfortunately many people are preoccupied with income so it's easy to spend money without thinking that saving is to maintain financial security, even though the interest offer is very low at the moment but by saving money we can easier to manage money.

[BRINIRHA]

I think the most important thing to make life better and easier is to keep saving money, unfortunately many people are preoccupied with income so it's easy to spend money without thinking that saving is to maintain financial security, even though the interest offer is very low at the moment but by saving money we can easier to manage money.

When our finances are stable and have consistent income, sometimes we really forget to take advantage of this situation to save more. Because we feel that we will continue to be safe with income that continues to flow to us. Even though this is something that is not true. because we never know what will happen in the future. so it is important for us to make preparations from the start. And especially when we are in a stable financial condition, we must use this as an opportunity to save more money and invest some of it.

[Betwrong]

~

Indeed. Your point is an excellent example of life-work balance. Saving is a beneficial habit for anyone, especially for those with a long term goal. We work to live and work for life, not vice versa. Sometimes we need to make choices over making less money/working less hours for spending more time with family or simply for yourself. Nowadays not many people can calm down and rethink about life and our most valuable time. I have always been a hard worker but known this clearly that life is larger than work.

You'll missed your child getting bigger which is true because of we keep chasing the money we forgot to have time in our family but again we do the hardwork for our family we work hard just to make their life comfortable even we keep sacrificing our time for them. Even my self if i do have a high salary right now i prefer to be with my family but the opportunity is not possible because i need to do a side hustle just to give them what they want but even i work hard it is still not enough. We really need to sacrifice things even we dont want to as we prefer struggling than they are struggling

I think it's not that simple as that. Being occupied by work all the time, making money so that your kid "won't be struggling", while he/she is growing up without you around, it's not good. You have to find a "life-work balance", as @FireDAOJackie_Z says. It's not easy to do, but it's very important to not ignore lest you end up with spoiled rich kid in the end.

[nesty]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

What happened to your friend is a result of inflation in your country. You have a good heart to help your friend as you can. That is the right thing to do save some money while you can because we may never know what the future will bring. The job the we have right now is not permanent so therefore save while we still can. It is hard if the source of income that we have will be cut off, it will really affect our family's daily needs. So as much as possible we should save or put up a business that can be beneficial for ourselves and our family. So try to save as early as now so that we will not worry even if we loose our job.

[FireDAOJackie_Z]

~

Indeed. Your point is an excellent example of life-work balance. Saving is a beneficial habit for anyone, especially for those with a long term goal. We work to live and work for life, not vice versa. Sometimes we need to make choices over making less money/working less hours for spending more time with family or simply for yourself. Nowadays not many people can calm down and rethink about life and our most valuable time. I have always been a hard worker but known this clearly that life is larger than work.

You'll missed your child getting bigger which is true because of we keep chasing the money we forgot to have time in our family but again we do the hardwork for our family we work hard just to make their life comfortable even we keep sacrificing our time for them. Even my self if i do have a high salary right now i prefer to be with my family but the opportunity is not possible because i need to do a side hustle just to give them what they want but even i work hard it is still not enough. We really need to sacrifice things even we dont want to as we prefer struggling than they are struggling

I think it's not that simple as that. Being occupied by work all the time, making money so that your kid "won't be struggling", while he/she is growing up without you around, it's not good. You have to find a "life-work balance", as @FireDAOJackie_Z says. It's not easy to do, but it's very important to not ignore lest you end up with spoiled rich kid in the end.

Agreed. To find a life-work balance is hard but worth all efforts. The more important thing is that in the pursuit of balance, we have set a great role model to our kids. Parents are always children’s “heroes” and if we do nothing positive in life, they will be more likely to be less disciplined and live a miserable life. Nowadays kids are way easy to be spoiled and we, as parents, should both provide a good financial support, more time with kids, and draw a line not to spoil them for the sake of their healthy growth. It’s a difficult task as well but we should do it. No matter what.

[bestcoins1]

What happened to your friend is a result of inflation in your country. You have a good heart to help your friend as you can. That is the right thing to do save some money while you can because we may never know what the future will bring. The job the we have right now is not permanent so therefore save while we still can. It is hard if the source of income that we have will be cut off, it will really affect our family's daily needs. So as much as possible we should save or put up a business that can be beneficial for ourselves and our family. So try to save as early as now so that we will not worry even if we loose our job.

As long as there is still a job that can be done and also the job still generates enough income to make savings in life. Of course there's nothing wrong with saving because it can also help us in life or when we want to open a new business more broadly, meaning that under any circumstances everyone is required to save from the income they earn as long as they can still work.

Due to sudden difficulties, illnesses and needs, it is always difficult to reach when they will come to someone in their life, so it is highly recommended for everyone to continue saving as early as possible with the maximum amount possible. After all, very few people want to help us when facing difficult times or bad days that come unexpectedly, so only ourselves can help when the three things I mentioned come into everyone's life.

[Uruhara]

I think the most important thing to make life better and easier is to keep saving money, unfortunately many people are preoccupied with income so it's easy to spend money without thinking that saving is to maintain financial security, even though the interest offer is very low at the moment but by saving money we can easier to manage money.

Well I agree with this. Because saving when we have a stable income is the most appropriate thing and must be done consistently. We must learn from the cases of the Pandemic that befell us some time ago. At that time people who do not have savings are the most suffering. because during a pandemic our activities were limited. many even take time off from work. the point is that income during a pandemic has dropped dramatically. but for those who have savings such as an emergency fund, even when a pandemic comes they can remain calm because they have prepared well. But if for the longer term then investment is much better than saving.

[Crypt0Gore]

The quicker you believe that it's not the end for you the faster you will get out of your bad situation, when life challenges comes into peoples life they sometimes feel unmotivated and they just give up, as long as you are still breathing do not believe that you can't bring changes into your life again, regrets, pain and fear are bad for a living soul, if you are trapped in one you have to break through.

There are still jobs available and there are ways you can still make money, that's if you are ready to take the chances and look for a way out, things only ends when you stop breathing.

Do not forget that if your heart still breaths then there is still hope.  

[irhact]

Saving money should be a necessity for anyone because of eventualities like accident, lose of job, old age, children education, the list is endless. Every body loves to save but problems arises when your income can not even take care of your miscellaneous expenses. What do you do? You must find a side business or investment, by all means. Otherwise depending on one source of income becomes a risk. Because what ever happens to that business is one way ticket to poverty.

Saving for a reason should be a necessity and that reason should be for investing. Many people only save and when problems come they use up the money they have saved for that problem and then if another problems was to follow the first one, they got nothing left to use in solving that problem and they end up borrowing. When you save and invest your savings, you won't run out of cash.

Earning of extra income has been made easier with the introduction of the internet and now cryptocurency. You can look for part time jobs online to help you or look for jobs in the cryptocurency space that you can use to support yourself as things are getting too expensive.

[Altryist]

For me, saving is important and imperative, although I don't have a goal for that, but in life, there are always surprises that we can't anticipate, it will help us in that case.  Currently, my income is quite stable compared to the average income in my country. But I never thought that I would stop saving because I have a better income than others. As you said, there will come a time when we, too, have to choose between making less money and spending time on other things. Because life is very short, but there are many things to take care of, not just work or money.

If there is such an opportunity, then why not now create some kind of capital that can allow us to work less in old age, in my opinion this is a good reason. There are also different times, sometimes it is more difficult, the income becomes less, but at such times it will be easier for us if by this time we have something to postpone. We will also often see, the retirement age being raised, and this is also not a good thing, as it means that we will need to work longer if we do not take care of our well-being by that time.

[Betwrong]

~

Agreed. To find a life-work balance is hard but worth all efforts. The more important thing is that in the pursuit of balance, we have set a great role model to our kids. Parents are always children’s “heroes” and if we do nothing positive in life, they will be more likely to be less disciplined and live a miserable life. Nowadays kids are way easy to be spoiled and we, as parents, should both provide a good financial support, more time with kids, and draw a line not to spoil them for the sake of their healthy growth. It’s a difficult task as well but we should do it. No matter what.

We should try, I would say. No one knows how to raise children properly. What we do know is that having enough money is not enough. Kids of rich parents would be perfect, if if it depended on money only. But we all know that in mane cases they are far from being perfect. So, we should focus not only on saving money for our kids' future, but also on their early education, because you can't compensate the lack of it with money.

[19Nov16]

Saving money is an important thing that we must make a top priority in life, if we don't save it will get a lot of difficulties, saving is of course according to ability, but if we have a small income then the first thing to do is take it for saving and the rest is for needs, if we don't do that then until we are old we won't be able to save.

[Theones]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If the inflation in your country is not high then the country's economy would have been normal. Every country is control by the national resources and national resources are from the national economy, so why things are still difficult for the citizens. If the price of goods and services are in the increasing side then the inflation in the country is also very high. The inflation of a country determine the prices of things.

If your friend lost his job because of the inflation then the government policy is the one affecting the various sectors of the Economy. But that will also depends on the sector. It is a private or public sector? Or the both as PPP. Public Private Partnership?

sometimes we learn the lesson hard way. Many people like spending on others my mother is on of them so we also like spending on others. But many people only like to gift themselves and not to pay a penny for others.

[Dr.Osh]

~

Agreed. To find a life-work balance is hard but worth all efforts. The more important thing is that in the pursuit of balance, we have set a great role model to our kids. Parents are always children’s “heroes” and if we do nothing positive in life, they will be more likely to be less disciplined and live a miserable life. Nowadays kids are way easy to be spoiled and we, as parents, should both provide a good financial support, more time with kids, and draw a line not to spoil them for the sake of their healthy growth. It’s a difficult task as well but we should do it. No matter what.

We should try, I would say. No one knows how to raise children properly. What we do know is that having enough money is not enough. Kids of rich parents would be perfect, if if it depended on money only. But we all know that in mane cases they are far from being perfect. So, we should focus not only on saving money for our kids' future, but also on their early education, because you can't compensate the lack of it with money.

You're right, but saving money is also an important point if one of our goals is educating children. even today if you want your child to acquire good knowledge you also need money for that. So, raising money is very important for the future. we can teach our children good knowledge while we save. however, the positive effects of saving are numerous. In fact, besides education, you can increase your business or investment by saving consistently.

[Fakhrulenclix]

~

Agreed. To find a life-work balance is hard but worth all efforts. The more important thing is that in the pursuit of balance, we have set a great role model to our kids. Parents are always children’s “heroes” and if we do nothing positive in life, they will be more likely to be less disciplined and live a miserable life. Nowadays kids are way easy to be spoiled and we, as parents, should both provide a good financial support, more time with kids, and draw a line not to spoil them for the sake of their healthy growth. It’s a difficult task as well but we should do it. No matter what.

We should try, I would say. No one knows how to raise children properly. What we do know is that having enough money is not enough. Kids of rich parents would be perfect, if if it depended on money only. But we all know that in mane cases they are far from being perfect. So, we should focus not only on saving money for our kids' future, but also on their early education, because you can't compensate the lack of it with money.

You're right, but saving money is also an important point if one of our goals is educating children. even today if you want your child to acquire good knowledge you also need money for that. So, raising money is very important for the future. we can teach our children good knowledge while we save. however, the positive effects of saving are numerous. In fact, besides education, you can increase your business or investment by saving consistently.

there are so many advantages of saving for the future but all of that should not disturb the current balance of life, prioritizing the interests or needs of current life and then leaving it for saving.
the matter of educating children and also health is included in the important needs, whether saving or not education and health must be prioritized.
therefore don't save too much so that you put aside current needs.

[Jody.Drummer]

Saving money is an important thing that we must make a top priority in life, if we don't save it will get a lot of difficulties, saving is of course according to ability, but if we have a small income then the first thing to do is take it for saving and the rest is for needs, if we don't do that then until we are old we won't be able to save.

I'll put the main needs first, then we can save the rest. Agree with you that saving should be according to our ability, so that we don't neglect our main needs so that we can save. The amount is not the problem here, the most important thing is that we can set aside money from our income for us to save, it doesn't matter whether it's a small or large amount, the important thing is that we can do it consistently. Many people who have a large income but they can't do anything for the future due to their luxurious lifestyle, which makes them unable to save their money.

[judaspriest]

~

Agreed. To find a life-work balance is hard but worth all efforts. The more important thing is that in the pursuit of balance, we have set a great role model to our kids. Parents are always children’s “heroes” and if we do nothing positive in life, they will be more likely to be less disciplined and live a miserable life. Nowadays kids are way easy to be spoiled and we, as parents, should both provide a good financial support, more time with kids, and draw a line not to spoil them for the sake of their healthy growth. It’s a difficult task as well but we should do it. No matter what.

We should try, I would say. No one knows how to raise children properly. What we do know is that having enough money is not enough. Kids of rich parents would be perfect, if if it depended on money only. But we all know that in mane cases they are far from being perfect. So, we should focus not only on saving money for our kids' future, but also on their early education, because you can't compensate the lack of it with money.

You're right, but saving money is also an important point if one of our goals is educating children. even today if you want your child to acquire good knowledge you also need money for that. So, raising money is very important for the future. we can teach our children good knowledge while we save. however, the positive effects of saving are numerous. In fact, besides education, you can increase your business or investment by saving consistently.

there are so many advantages of saving for the future but all of that should not disturb the current balance of life, prioritizing the interests or needs of current life and then leaving it for saving.
the matter of educating children and also health is included in the important needs, whether saving or not education and health must be prioritized.
therefore don't save too much so that you put aside current needs.

It's true what you said saving is important but again we have to be able to manage it first,
after managing these needs have been met then we can start saving,
The most important thing is to meet your needs first, then save.

[Ricardo11]

If you have decided to save for the future, it is always the best decision. No one can tell what the future holds for you. At any moment your situation can turn bad. Then this savings will help you out of this situation. You calculate your income and expenses and start saving by creating a savings list of specific amounts. And you stick to it in any situation. Then you can always be prepared to face your worst situation. We should all save more or less. Think about what you need in the future and start saving for it. We should all try to save a little more. So that you don't have to worry about any bad situation in the future.

[xSkylarx]

~

Agreed. To find a life-work balance is hard but worth all efforts. The more important thing is that in the pursuit of balance, we have set a great role model to our kids. Parents are always children’s “heroes” and if we do nothing positive in life, they will be more likely to be less disciplined and live a miserable life. Nowadays kids are way easy to be spoiled and we, as parents, should both provide a good financial support, more time with kids, and draw a line not to spoil them for the sake of their healthy growth. It’s a difficult task as well but we should do it. No matter what.

We should try, I would say. No one knows how to raise children properly. What we do know is that having enough money is not enough. Kids of rich parents would be perfect, if if it depended on money only. But we all know that in mane cases they are far from being perfect. So, we should focus not only on saving money for our kids' future, but also on their early education, because you can't compensate the lack of it with money.

You're right, but saving money is also an important point if one of our goals is educating children. even today if you want your child to acquire good knowledge you also need money for that. So, raising money is very important for the future. we can teach our children good knowledge while we save. however, the positive effects of saving are numerous. In fact, besides education, you can increase your business or investment by saving consistently.

there are so many advantages of saving for the future but all of that should not disturb the current balance of life, prioritizing the interests or needs of current life and then leaving it for saving.
the matter of educating children and also health is included in the important needs, whether saving or not education and health must be prioritized.
therefore don't save too much so that you put aside current needs.

It's true what you said saving is important but again we have to be able to manage it first,
after managing these needs have been met then we can start saving,
The most important thing is to meet your needs first, then save.

but for others (depending on the person and the salary), they do the saving first before having their needs, and I hope I will experience this too, because they say that you can't save if you spend on your needs first because the wants will follow at that time, but again, this depends on your income. As for me, I need to budget my needs first, and if there are extras, then you can save.

[Maidak]

If you have decided to save for the future, it is always the best decision. No one can tell what the future holds for you. At any moment your situation can turn bad. Then this savings will help you out of this situation. You calculate your income and expenses and start saving by creating a savings list of specific amounts. And you stick to it in any situation. Then you can always be prepared to face your worst situation. We should all save more or less. Think about what you need in the future and start saving for it. We should all try to save a little more. So that you don't have to worry about any bad situation in the future.

Saving is never wrong, even for high earners or rich people, because the future is unpredictable. But save with a plan, I mean save in moderation, don't force yourself to work hard to save or fast to save. Along with that, we should not be too subjective because we have a high income and a lot of money, so saving is not paid much attention.
Saving is more important than investing, but many people still mistakenly believe that investing is more important than saving and think that the rich do not save but only invest.

[Z390]

It's all about having an easy life, the reason why I work so hard and always try to save money is because of myself and my family, there is nothing else that money is good for than to have a good life with your family, when health issue comes at least money won't be the reason why you lost your loved ones, money is a great tool to have easier life that's why we must work very hard at whatever we do to make money, in some years time we won't be able to work hard anymore due to old age, there is no better time than now.

Though saving must not be the main thing to achieve a better life, I believe that investment is the best way to having a fulfilling life because with investments you will increase your chances of accomplishing the money goal., those rich men out there got to where they are today by investing their money effectively.

[Theones]

It's all about having an easy life, the reason why I work so hard and always try to save money is because of myself and my family, there is nothing else that money is good for than to have a good life with your family, when health issue comes at least money won't be the reason why you lost your loved ones, money is a great tool to have easier life that's why we must work very hard at whatever we do to make money, in some years time we won't be able to work hard anymore due to old age, there is no better time than now.

Though saving must not be the main thing to achieve a better life, I believe that investment is the best way to having a fulfilling life because with investments you will increase your chances of accomplishing the money goal., those rich men out there got to where they are today by investing their money effectively.

but investment is not always a good choice. Sometime
you loose your hard earn money. I thought of investing once in my life and it was a disaster.

[umbara ardian]

Yeah, of course, even if it's not in the boom period, saving is also something that we should do because it can help you a lot if, unfortunately, you have something urgent. At the beginning of the outbreak of the COVID epidemic in my country, at first it could be said that the situation was still very good, but when the situation became tense, people could not go to work and were forced to stay at home. At that time, the money problems really started. There are many people who do not have any savings to cover their lives; they only live on their monthly salary. So the lack of work leads to no money; the deprivation makes them hot and start riots. So the result of not having a plan to save money for ourselves is really a matter of concern, so no matter how much or how little, every month we should put a small amount of money in the savings book.

[Dr.Osh]

It's all about having an easy life, the reason why I work so hard and always try to save money is because of myself and my family, there is nothing else that money is good for than to have a good life with your family, when health issue comes at least money won't be the reason why you lost your loved ones, money is a great tool to have easier life that's why we must work very hard at whatever we do to make money, in some years time we won't be able to work hard anymore due to old age, there is no better time than now.

Though saving must not be the main thing to achieve a better life, I believe that investment is the best way to having a fulfilling life because with investments you will increase your chances of accomplishing the money goal., those rich men out there got to where they are today by investing their money effectively.

investment really affects our economy in the future if the investment we make is really successful. however, we also know that saving is the thing to do. because all of these things are important, so many people suggest saving some or maybe 30% of the income they have, and 20% or more is used for investing and the rest is for living expenses and emergency funds. those are all very important aspects. many people have worked hard up until now and are using their money to save and invest with a view to the future.

[raidarksword]

We are experiencing inflations and in fact our country as well suffers from it that's why being thrift and having savings will have a huge factor to survive this inflations. As always, don't buy unnecessary things instead buy only what's necessary for now. When turns ugly, always have a backed up plan because we cannot predict the future instead bitcoin will be a huge factor to fight inflations as many believed it is the future of financial freedom.

[Uruhara]

Saving money is an important thing that we must make a top priority in life, if we don't save it will get a lot of difficulties, saving is of course according to ability, but if we have a small income then the first thing to do is take it for saving and the rest is for needs, if we don't do that then until we are old we won't be able to save.

I'll put the main needs first, then we can save the rest. Agree with you that saving should be according to our ability, so that we don't neglect our main needs so that we can save. The amount is not the problem here, the most important thing is that we can set aside money from our income for us to save, it doesn't matter whether it's a small or large amount, the important thing is that we can do it consistently. Many people who have a large income but they can't do anything for the future due to their luxurious lifestyle, which makes them unable to save their money.

Now this luxurious living habit usually makes it difficult for people to set aside money for savings. So to be able to save, of course, we have to start from improving our life habits to become simpler. Buying only the things we really need. and avoid unnecessary purchases. Prioritize primary needs and try to set aside our money even if only a little. and as you said the key is that we have to be consistent in doing it.

[xSkylarx]

Saving money is an important thing that we must make a top priority in life, if we don't save it will get a lot of difficulties, saving is of course according to ability, but if we have a small income then the first thing to do is take it for saving and the rest is for needs, if we don't do that then until we are old we won't be able to save.

I'll put the main needs first, then we can save the rest. Agree with you that saving should be according to our ability, so that we don't neglect our main needs so that we can save. The amount is not the problem here, the most important thing is that we can set aside money from our income for us to save, it doesn't matter whether it's a small or large amount, the important thing is that we can do it consistently. Many people who have a large income but they can't do anything for the future due to their luxurious lifestyle, which makes them unable to save their money.

Now this luxurious living habit usually makes it difficult for people to set aside money for savings. So to be able to save, of course, we have to start from improving our life habits to become simpler. Buying only the things we really need. and avoid unnecessary purchases. Prioritize primary needs and try to set aside our money even if only a little. and as you said the key is that we have to be consistent in doing it.

They got affected mostly by social media, which is why they will spend more on their wants, like if they just see a newly opened restaurant with a lot of people going there, even if it is not necessary, they will go to it, or buy a new phone even if their old one is still working. If people can't control this kind of urge, then for sure they can save for the future, as they are prioritizing their short-term comfort or happiness.

[Razmirraz]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

There are many ways you can do to survive in economic conditions like this, you can start pioneering the economy starting from a small job opening an online business or local business from door to door. This is the consequence if you don't prepare your savings to face bad possibilities that we never know when they will happen. Throw away your prestige and don't care about what other people say, you must be ready to do anything to survive in a difficult economy to support your family.

[Fredomago]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

There are many ways you can do to survive in economic conditions like this, you can start pioneering the economy starting from a small job opening an online business or local business from door to door. This is the consequence if you don't prepare your savings to face bad possibilities that we never know when they will happen. Throw away your prestige and don't care about what other people say, you must be ready to do anything to survive in a difficult economy to support your family.

Being practical is what you need during this time. Pride and ego should be taken away as you need to survive and you need to do everything to continue feeding yourself and your family. Surviving is something that you are willing to put everything aside and to make things possible even the chance is slim, like with your example you can go and do a door to door selling activities even if before you are a high paying employee, things that needed to adjust and adopt in order to make sure that you will have a daily income that can feed your family.

Nothing can' be done in terms of surviving unless you are lazy and you are not willing to embrace changes that needed to take place in order to continue living your life.

[someone703]

Saving a portion of your income each month can provide a financial safety net and help in times of need, especially when preparing for the unexpected. You should allocate a certain percentage of your salary to savings. By continuously saving a part of your income, you will build a reserve that can be used for emergencies, unexpected expenses, or periods of unemployment. It also provides peace of mind during difficult times and the means to sustain yourself and your family. This serves as a buffer to cover basic needs such as food, housing, and healthcare while you look for new jobs or explore alternative sources of income.

[Mahanton]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

There are many ways you can do to survive in economic conditions like this, you can start pioneering the economy starting from a small job opening an online business or local business from door to door. This is the consequence if you don't prepare your savings to face bad possibilities that we never know when they will happen. Throw away your prestige and don't care about what other people say, you must be ready to do anything to survive in a difficult economy to support your family.

Being practical is what you need during this time. Pride and ego should be taken away as you need to survive and you need to do everything to continue feeding yourself and your family. Surviving is something that you are willing to put everything aside and to make things possible even the chance is slim, like with your example you can go and do a door to door selling activities even if before you are a high paying employee, things that needed to adjust and adopt in order to make sure that you will have a daily income that can feed your family.

Nothing can' be done in terms of surviving unless you are lazy and you are not willing to embrace changes that needed to take place in order to continue living your life.

Pride and ego isnt that important because the most important thing of this world is on how you would really be putting up a food on your table or something that wouldnt really make your stomach crumble.
Dont mind others views and opinions about you, because there's no need or not really that important on how people would be having that kind of good impression towards you. Spending up without any plans
ahead would really be leading you in nowhere or on the time that emergency exists then there's no much you can do since you dont have money to spend up and ending up for you to taking up some a loan.
Dont let yourself fall into such situation on where you are really that being wrecked up just because you dont have money to spent up on time like this. Saving up money is considerable but at the same
time you should really be wise on having that investment and business on where you could really be having that other income sources on which it would really be spreading up that kind of opportunity
to earn more.

[Uruhara]

Saving money is an important thing that we must make a top priority in life, if we don't save it will get a lot of difficulties, saving is of course according to ability, but if we have a small income then the first thing to do is take it for saving and the rest is for needs, if we don't do that then until we are old we won't be able to save.

I'll put the main needs first, then we can save the rest. Agree with you that saving should be according to our ability, so that we don't neglect our main needs so that we can save. The amount is not the problem here, the most important thing is that we can set aside money from our income for us to save, it doesn't matter whether it's a small or large amount, the important thing is that we can do it consistently. Many people who have a large income but they can't do anything for the future due to their luxurious lifestyle, which makes them unable to save their money.

Now this luxurious living habit usually makes it difficult for people to set aside money for savings. So to be able to save, of course, we have to start from improving our life habits to become simpler. Buying only the things we really need. and avoid unnecessary purchases. Prioritize primary needs and try to set aside our money even if only a little. and as you said the key is that we have to be consistent in doing it.

They got affected mostly by social media, which is why they will spend more on their wants, like if they just see a newly opened restaurant with a lot of people going there, even if it is not necessary, they will go to it, or buy a new phone even if their old one is still working. If people can't control this kind of urge, then for sure they can save for the future, as they are prioritizing their short-term comfort or happiness.

I also cannot deny the temptations that always pass by on social media and on some of the application platforms that we use. I can't even set an example for others. But I personally experienced it. but I'm not tempted because of an advertisement on social media. but because I installed a shopping application that offers quite tempting offers. starting with free shipping and 50% off for new users. this has made me tempted and buy one of the things that I really don't really need at this time. but I was tempted and bought it anyway because I thought a lot about not wasting the new user voucher I got. And it looks like the item will come in handy one day. But still, the steps I took have made my financial planning a little off the mark from what I had planned before. and I'm a little bit sorry now. and maybe I get a lesson from this not to be tempted anymore by a promotion or anything from every new application that I install. but I think I'm not the only one who's been tempted by some sort of new user voucher promotion from a shopping app 

[BitcoinTurk]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Unfortunately, there is no guarantee that we will have a permanent job in any institution or workplace, including government jobs. Although the probability of reducing the number of personnel of some companies or institutions is low, it should not be forgotten that there is always the possibility of this situation.
As someone who is aware of this, I take care to save a little money and invest a little every month without thinking more or less. In this way, I both have a stable liquidation and chase opportunities as a result of the movements in the markets. Especially nowadays it has become very difficult to save money and find a job. For this reason, I think that we need to save money as much as we have the opportunity and we need to be an efficient employee in order not to lose our job.

[ningrum]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

There are many ways you can do to survive in economic conditions like this, you can start pioneering the economy starting from a small job opening an online business or local business from door to door. This is the consequence if you don't prepare your savings to face bad possibilities that we never know when they will happen. Throw away your prestige and don't care about what other people say, you must be ready to do anything to survive in a difficult economy to support your family.

That is the consequence that when we don't have savings, we inevitably have to do anything,
as long as there is a desire and keep trying I think it will have results later,
besides that it is also necessary to learn to be innovative and creative in opening a business.

[G_Besar]

That is the consequence that when we don't have savings, we inevitably have to do anything,
as long as there is a desire and keep trying I think it will have results later,
besides that it is also necessary to learn to be innovative and creative in opening a business.

Apart from having to be innovative and creative in opening a business, another thing that the business owner still needs to see is the opportunity through a strategic environment so that sales in the business can increase sharply. Because the business owner needs to see what sells best in the environment so he can provide it when a customer orders from him.

This means that business owners need to make their place of business as comfortable as possible with the appearance that is as innovative as possible and also the best possible service to all customers so that they are always interested in coming to our place. This is a very wise strategy in developing a business because in addition to being creative in attracting customers, business owners must also be able to provide more attractive and satisfying services to their customers.

[Jody.Drummer]

I also cannot deny the temptations that always pass by on social media and on some of the application platforms that we use. I can't even set an example for others. But I personally experienced it. but I'm not tempted because of an advertisement on social media. but because I installed a shopping application that offers quite tempting offers. starting with free shipping and 50% off for new users. this has made me tempted and buy one of the things that I really don't really need at this time. but I was tempted and bought it anyway because I thought a lot about not wasting the new user voucher I got. And it looks like the item will come in handy one day. But still, the steps I took have made my financial planning a little off the mark from what I had planned before. and I'm a little bit sorry now. and maybe I get a lesson from this not to be tempted anymore by a promotion or anything from every new application that I install. but I think I'm not the only one who's been tempted by some sort of new user voucher promotion from a shopping app 

Now this is like my friend's experience, indeed when in real life it seems like he doesn't spend too much and going out of the house for vacation is also very rare. But I was surprised by what he told me about his experience of having to spend a lot of money, even more than what I spent every month, even though, in real life, I had more than what he did. And it turns out that after I found out, he always shopped online and even had at least 5 items a week that he bought.
And even some time ago he had a little financial trouble because he had to pay the installments he used in an online shopping application that provides a paylater feature.

[Uruhara]

I also cannot deny the temptations that always pass by on social media and on some of the application platforms that we use. I can't even set an example for others. But I personally experienced it. but I'm not tempted because of an advertisement on social media. but because I installed a shopping application that offers quite tempting offers. starting with free shipping and 50% off for new users. this has made me tempted and buy one of the things that I really don't really need at this time. but I was tempted and bought it anyway because I thought a lot about not wasting the new user voucher I got. And it looks like the item will come in handy one day. But still, the steps I took have made my financial planning a little off the mark from what I had planned before. and I'm a little bit sorry now. and maybe I get a lesson from this not to be tempted anymore by a promotion or anything from every new application that I install. but I think I'm not the only one who's been tempted by some sort of new user voucher promotion from a shopping app  

Now this is like my friend's experience, indeed when in real life it seems like he doesn't spend too much and going out of the house for vacation is also very rare. But I was surprised by what he told me about his experience of having to spend a lot of money, even more than what I spent every month, even though, in real life, I had more than what he did. And it turns out that after I found out, he always shopped online and even had at least 5 items a week that he bought.
And even some time ago he had a little financial trouble because he had to pay the installments he used in an online shopping application that provides a paylater feature.

Now this is the temptation that is the not easiest to avoid for some people. Because at this time even some online shopping applications also always provide money loan services or we can buy goods in installments. This is indeed helpful for those who are urgent to have a need that cannot be postponed. but on the other hand this can actually make someone addicted to debt. and shop in installments.

And what is worrying is that this can indeed have an impact on uncontrolled spending. and mess up financial planning. even someone can be difficult to save money if conditions like this are not corrected.

[@forxample]

Saving money should be a necessity for anyone because of eventualities like accident, lose of job, old age, children education, the list is endless. Every body loves to save but problems arises when your income can not even take care of your miscellaneous expenses. What do you do? You must find a side business or investment, by all means. Otherwise depending on one source of income becomes a risk. Because what ever happens to that business is one way ticket to poverty.

This is why every body must became innovative and think outside their comfort zone.

saving can make you rich, that's the adage of parents to their children. the logic is not right if saving can make you rich, because saving will only slow you down so you can be rich. because the money you save will not rotate and will not increase your income. On the other hand, don't ever think that by working part-time you can save even more, it must be remembered that when you work part-time not only can you not enjoy your wealth, but your health will decrease and your assets will be used up for hospital fees so that your health recovered and able to work again.
And it's wrong to think if you are already married and you only invest your money in your children by sending them to school as high as possible with the hope that when they graduate and work they can change the family economy.

then start making a business with the money you have and invest your money so that your wealth will increase and save some to overcome eventualities such as accidents that occur and to guarantee your old age. and don't make your children your guarantee in old age, let what they get and what they achieve guarantee their future life.

[Jody.Drummer]

I also cannot deny the temptations that always pass by on social media and on some of the application platforms that we use. I can't even set an example for others. But I personally experienced it. but I'm not tempted because of an advertisement on social media. but because I installed a shopping application that offers quite tempting offers. starting with free shipping and 50% off for new users. this has made me tempted and buy one of the things that I really don't really need at this time. but I was tempted and bought it anyway because I thought a lot about not wasting the new user voucher I got. And it looks like the item will come in handy one day. But still, the steps I took have made my financial planning a little off the mark from what I had planned before. and I'm a little bit sorry now. and maybe I get a lesson from this not to be tempted anymore by a promotion or anything from every new application that I install. but I think I'm not the only one who's been tempted by some sort of new user voucher promotion from a shopping app  

Now this is like my friend's experience, indeed when in real life it seems like he doesn't spend too much and going out of the house for vacation is also very rare. But I was surprised by what he told me about his experience of having to spend a lot of money, even more than what I spent every month, even though, in real life, I had more than what he did. And it turns out that after I found out, he always shopped online and even had at least 5 items a week that he bought.
And even some time ago he had a little financial trouble because he had to pay the installments he used in an online shopping application that provides a paylater feature.

Now this is the temptation that is the not easiest to avoid for some people. Because at this time even some online shopping applications also always provide money loan services or we can buy goods in installments. This is indeed helpful for those who are urgent to have a need that cannot be postponed. but on the other hand this can actually make someone addicted to debt. and shop in installments.

And what is worrying is that this can indeed have an impact on uncontrolled spending. and mess up financial planning. even someone can be difficult to save money if conditions like this are not corrected.

Obviously, I can't deny that it's a helpful thing, because I also use the feature in times of urgency. But if we can't control ourselves, then something that will make it difficult for us will happen in the future. I will not blame the online shopping application that provides this feature because they also want to benefit, but the problem is with the users who usually forget themselves so that their monthly bills swell beyond their monthly income, and this will continue if they close their monthly bills. them by digging new holes, or borrowing money to make payments on their debts.

[bluebit25]

I think it's a difficult situation and I'm sorry about that. And I will give some advice such as focusing on finding a new job, wherever it is, finding and applying to another company is the first thing to do. It may be necessary to revise your CV so that it fits the requirements of different companies. And you can also look for a source of income during this time, looking to make some money while you wait to find a new job. The important thing, determination and optimism in facing difficulties is extremely important. I believe your friend will get through this difficult time and find the motivation to keep trying and explore new opportunities.

[Mr.right85]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

It sad for you friend and would even be more so for you if you only resolve to savings as your best means to hedge against inflation and most of all, the unexpected challenges that might come knocking at your door in the course of your life time.

Money finishes, that's the one thing you should have at the back of your mind. You've got to invest that money and not just have it saved somewhere. Saved money is still rocked by inflation which brings about devaluation.
Invested money, you get to watch your investment flow with the tide perhaps, you've invested properly in non seasonal.

Having it saved somewhere would help for a time but, what becomes of the money after you've used them all I'm solving them challenges.
Investing is better than savings.

[flyingcarpet]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Your friend must have received severance pay. If he has received severance pay, he has to be content with it for a certain period of time. Then he should look for a new job. People should save some money while working. When faced with such situations, they need enough money to manage them for a while.

If you can, try not to depend on one job. You can make your life even easier with additional jobs that provide a small return. I can make the following suggestion for your friend. He should think about negative situations and invest while working on his next job. At the same time, additional jobs must be learned. If they don't have the means, they are in a really difficult situation. Good luck to your friend.

[bestcoins1]

I think it's a difficult situation and I'm sorry about that. And I will give some advice such as focusing on finding a new job, wherever it is, finding and applying to another company is the first thing to do. It may be necessary to revise your CV so that it fits the requirements of different companies. And you can also look for a source of income during this time, looking to make some money while you wait to find a new job. The important thing, determination and optimism in facing difficulties is extremely important. I believe your friend will get through this difficult time and find the motivation to keep trying and explore new opportunities.

Sometimes not everyone can have more time to look for work while earning income through work that may not be permanent, because when someone starts to focus on just one job, of course he will leave another job that he may not have had time to focus on at the same time. So that he is still likely to experience difficulties when the amount of income he gets is just enough for daily use with nothing left for savings in his life.

At present, it is also not easy for the company to accept new employees if all sectors of work within the company have been filled with old employees so that the company does not open any more vacancies for new employees. Even though not all companies are like that, in difficult times like today it is very clear that not many companies open vacancies for new employee recruitment.

[bluebit25]

(...)

Sometimes not everyone can have more time to look for work while earning income through work that may not be permanent, because when someone starts to focus on just one job, of course he will leave another job that he may not have had time to focus on at the same time. So that he is still likely to experience difficulties when the amount of income he gets is just enough for daily use with nothing left for savings in his life.

At present, it is also not easy for the company to accept new employees if all sectors of work within the company have been filled with old employees so that the company does not open any more vacancies for new employees. Even though not all companies are like that, in difficult times like today it is very clear that not many companies open vacancies for new employee recruitment.

I also understand that the truth is that we are facing many difficulties at work, but instead of feeling stuck, let's see it as a motivation for everyone to try harder instead of seeing what is the work more self-interest. I want to come with a thought think of many people who are more difficult than me and they are still happy so why not make things better with my conditions, the current job in many companies is good corporations are cut but that does not mean that opportunities for each person will disappear, trying harder than usual is the way to overcome current difficulties.

[bayu7adi]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

This encompasses an emergency fund that everyone should have in place if they fear their lives being snatched away by something unexpected. Problems can arise without prior notice, so it's essential for all of us to possess a backup fund that can secure us. Some individuals choose to pay insurance companies, while others opt to save it themselves. Both choices are not wrong, but I lean more towards those who manage their own finances.

Don't forget to seek financial consultation from experts to ensure that your money is allocated in a structured manner and aligns with your plans. This consultation is crucial because each person possesses thoughts that we were previously unaware of. Their perspectives are highly valuable in improving the quality of our finances.

[Blowon]

I did that, I'm sure the income is not always the same every day even if we are businessmen or traders. because of that I learned to try to save less with expenses by not buying things according to prestige, I only buy necessities according to what I need, unless I have a lot of money, I will still save it for sure it will be useful in the future.

[Betwrong]

~ We should try, I would say. No one knows how to raise children properly. What we do know is that having enough money is not enough. Kids of rich parents would be perfect, if if it depended on money only. But we all know that in mane cases they are far from being perfect. So, we should focus not only on saving money for our kids' future, but also on their early education, because you can't compensate the lack of it with money.

You're right, but saving money is also an important point if one of our goals is educating children. even today if you want your child to acquire good knowledge you also need money for that. So, raising money is very important for the future. we can teach our children good knowledge while we save. however, the positive effects of saving are numerous. In fact, besides education, you can increase your business or investment by saving consistently.

No question about that. No way I'm trying to say that money is not important. Money is very important, and I encourage everyone to earn it and save it if possible. I'm just saying that in the case of raising children having a lot of money is not enough for success. In other words, in the modern world people with low income still have a chance to raise their kids properly, they just need to find balance between earning money and educating their children.

[Fakhrulenclix]

I did that, I'm sure the income is not always the same every day even if we are businessmen or traders. because of that I learned to try to save less with expenses by not buying things according to prestige, I only buy necessities according to what I need, unless I have a lot of money, I will still save it for sure it will be useful in the future.

whatever income we have, saving is something that must be done, it is very true that we should not spend excess items and put aside saving, especially for entrepreneurs or traders, in the future many unexpected things will happen and if there is no savings then it is possible for the occurrence of financial chaos in trade or business.
I have a small income, and even I have to meet many of my family's basic needs, but even so, I always make time to save even a little each month.
I'm sure it will be useful for the future.

[xSkylarx]

Saving money is an important thing that we must make a top priority in life, if we don't save it will get a lot of difficulties, saving is of course according to ability, but if we have a small income then the first thing to do is take it for saving and the rest is for needs, if we don't do that then until we are old we won't be able to save.

I'll put the main needs first, then we can save the rest. Agree with you that saving should be according to our ability, so that we don't neglect our main needs so that we can save. The amount is not the problem here, the most important thing is that we can set aside money from our income for us to save, it doesn't matter whether it's a small or large amount, the important thing is that we can do it consistently. Many people who have a large income but they can't do anything for the future due to their luxurious lifestyle, which makes them unable to save their money.

Now this luxurious living habit usually makes it difficult for people to set aside money for savings. So to be able to save, of course, we have to start from improving our life habits to become simpler. Buying only the things we really need. and avoid unnecessary purchases. Prioritize primary needs and try to set aside our money even if only a little. and as you said the key is that we have to be consistent in doing it.

They got affected mostly by social media, which is why they will spend more on their wants, like if they just see a newly opened restaurant with a lot of people going there, even if it is not necessary, they will go to it, or buy a new phone even if their old one is still working. If people can't control this kind of urge, then for sure they can save for the future, as they are prioritizing their short-term comfort or happiness.

I also cannot deny the temptations that always pass by on social media and on some of the application platforms that we use. I can't even set an example for others. But I personally experienced it. but I'm not tempted because of an advertisement on social media. but because I installed a shopping application that offers quite tempting offers. starting with free shipping and 50% off for new users. this has made me tempted and buy one of the things that I really don't really need at this time. but I was tempted and bought it anyway because I thought a lot about not wasting the new user voucher I got. And it looks like the item will come in handy one day. But still, the steps I took have made my financial planning a little off the mark from what I had planned before. and I'm a little bit sorry now. and maybe I get a lesson from this not to be tempted anymore by a promotion or anything from every new application that I install. but I think I'm not the only one who's been tempted by some sort of new user voucher promotion from a shopping app 

Even myself, but it was way back before that I've seen things like phones on sale or any accessories on sale. I am always present on this pay day sale, and we know that we can buy it cheaply, so we should buy it rather than buying it without on sale. But later on, when I noticed that I was spending too much on it and getting short, I uninstalled all of my applications. Right now, I can still see them and am sometimes tempted, but I always ask myself if I really need them or not so that I am not wasting money on them.

[Dr.Osh]

I did that, I'm sure the income is not always the same every day even if we are businessmen or traders. because of that I learned to try to save less with expenses by not buying things according to prestige, I only buy necessities according to what I need, unless I have a lot of money, I will still save it for sure it will be useful in the future.

you are right. we know that the income we get today will not last forever. besides, people also raise their business for their old age. Saving money now will have a very good impact in the future. we also don't know when we really need money, therefore instead of borrowing, we can use our savings. other benefits, we can enjoy the savings when we are old or retired. people sometimes use their savings to travel the world or buy their dream things.

[bitzizzix]

I did that, I'm sure the income is not always the same every day even if we are businessmen or traders. because of that I learned to try to save less with expenses by not buying things according to prestige, I only buy necessities according to what I need, unless I have a lot of money, I will still save it for sure it will be useful in the future.

you are right. we know that the income we get today will not last forever. besides, people also raise their business for their old age. Saving money now will have a very good impact in the future. we also don't know when we really need money, therefore instead of borrowing, we can use our savings. other benefits, we can enjoy the savings when we are old or retired. people sometimes use their savings to travel the world or buy their dream things.

The business world or traders are those whose income is not fixed and not fixed, and this must really be able to manage it, especially the needs that are urgently needed, namely daily needs that are in accordance with their income. And also capital to do business again and also to save, because saving is the most important thing, because it is used as a reserve fund when we really need it. And savings will also continue to grow if done regularly and disciplined, apart from being a reserve fund, savings can also guarantee old age.
and savings can also help when business or trade is not profitable because savings can be used to meet needs and use them sparingly. And at this time, don't follow ego or prestige because the most important thing is that our life is not difficult, nor does it make other people difficult.

[Theones]

I did that, I'm sure the income is not always the same every day even if we are businessmen or traders. because of that I learned to try to save less with expenses by not buying things according to prestige, I only buy necessities according to what I need, unless I have a lot of money, I will still save it for sure it will be useful in the future.

you are right. we know that the income we get today will not last forever. besides, people also raise their business for their old age. Saving money now will have a very good impact in the future. we also don't know when we really need money, therefore instead of borrowing, we can use our savings. other benefits, we can enjoy the savings when we are old or retired. people sometimes use their savings to travel the world or buy their dream things.

One should not be a miser and keep a good balance of everything. This includes keeping the standard of a person in the present time and having an emergency funds. This will help you having a good balance of life !

[leonair]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

[erep]

The definition of saving is setting aside some money from income for future financial needs, including for emergency needs, converting to assets to focus on annual profits, financial independence, and avoiding debt when we are in a financial crisis due to unexpected events such as the pandemic last year.



The picture above is called the "50/30/20 Strategy", the most ideal financial management strategy that anyone can apply regularly and disciplined from each monthly income, the explanation for the term 50 is to use 50% of monthly income for the utilization of funds for routine needs and expenses, the second term is 30% of income for the allocation of funds to realize your desires (not routine needs) because your hobby is buying collectibles, funds for holidays and etc. The last of the 20 terms is to set aside 20% of your monthly income for future beneficial savings.

^{reference : https://www.thebalancemoney.com/the-50-30-20-rule-of-thumb-453922}

I have a small income, and even I have to meet many of my family's basic needs, but even so, I always make time to save even a little each month.
I'm sure it will be useful for the future.

I like your motivation to always be routine and disciplined in saving even though allocating savings from small income, you are part of the above strategy because you have managed good finances for future financial planning, you must limit spending funds that do not include major needs and better increase allocations savings of more than 20-30% of your income.

[Theones]

The definition of saving is setting aside some money from income for future financial needs, including for emergency needs, converting to assets to focus on annual profits, financial independence, and avoiding debt when we are in a financial crisis due to unexpected events such as the pandemic last year.



The picture above is called the "50/30/20 Strategy", the most ideal financial management strategy that anyone can apply regularly and disciplined from each monthly income, the explanation for the term 50 is to use 50% of monthly income for the utilization of funds for routine needs and expenses, the second term is 30% of income for the allocation of funds to realize your desires (not routine needs) because your hobby is buying collectibles, funds for holidays and etc. The last of the 20 terms is to set aside 20% of your monthly income for future beneficial savings.

^{reference : https://www.thebalancemoney.com/the-50-30-20-rule-of-thumb-453922}

I have a small income, and even I have to meet many of my family's basic needs, but even so, I always make time to save even a little each month.
I'm sure it will be useful for the future.

I like your motivation to always be routine and disciplined in saving even though allocating savings from small income, you are part of the above strategy because you have managed good finances for future financial planning, you must limit spending funds that do not include major needs and better increase allocations savings of more than 20-30% of your income.

Saving money allows you to enjoy greater security in your life. If you have cash set aside for emergencies, you have a fallback should something unexpected happen then this emergency fund will be very helpful.

[Vaskiy]

Inflation have hit hard around the world. Everything have increased in the price, but the income haven't got raised. The ongoing war have caused severe need of oil and gas. When the demand for oil and gas increases, it directly reflects on the daily needs price increase. We don't know what happens next minute. We need to have a mindset to prepare for the worst, only then we can stay effective with our plans and increase savings lowering the unwanted expenses.

[Wend]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.

[posi]

Inflation have hit hard around the world. Everything have increased in the price, but the income haven't got raised. The ongoing war have caused severe need of oil and gas. When the demand for oil and gas increases, it directly reflects on the daily needs price increase. We don't know what happens next minute. We need to have a mindset to prepare for the worst, only then we can stay effective with our plans and increase savings lowering the unwanted expenses.

In addition to increasing savings, we need to find other incomes by working overtime, investing...Because if we focus only on saving, it will not solve problems like daily rising commodity prices and worsening inflation. Saving is a good thing to do, but it does not mean that excessive saving affects health. As we all know, health is the primary basis for creating money, so don't be too frugal but think about your health. Be saving with life's useless things, and don't be frugal with your health.

[bestcoins1]

In addition to increasing savings, we need to find other incomes by working overtime, investing...Because if we focus only on saving, it will not solve problems like daily rising commodity prices and worsening inflation. Saving is a good thing to do, but it does not mean that excessive saving affects health. As we all know, health is the primary basis for creating money, so don't be too frugal but think about your health. Be saving with life's useless things, and don't be frugal with your health.

I also agree more on the point of saving for things that are not useful in life, but not for health problems because the evidence is very clear that those who are sick must lie in bed hoping that health can come to them soon so they can go back to work to make money like usually. And actually saving is also an effort to save money even though everyone doesn't have to be satisfied with that alone, because everyone still needs to find other income so that they can save more.

And also must have the courage within himself to open a business or investment in order to be able to face the difficulties caused by global inflation and recession. Because everyone will be better off if they want to depend on income through their work, not on their savings because savings are money that will be used when someone needs money quickly in life.

[Rabata]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.

Risks exist in investment, if one takes the risk then an opportunity will be created. If some one is not willing to take any risk then he can save money through monthly savings. But inflation is rising, saving fiat money is one kind of loss. If a small portion of the income is invested in Bitcoin every month, it can bring a good amount of profit. But it will totally depend on what a person wants to do. Personally I am enthusiastic about investing in Bitcoin with my little amount of savings.

[Alpha Marine]

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.

A lot o people who work do not believe in the idea of investing. They believe they can just save for the rainy day or save for retirement.
With the rate at which inflation is increasing, it is really not advisable to just save. I know everybody needs savings, but a part of that savings we're making should be used for investments.
Investment is risky, it is simpler to just save the money, but if we always go for the simpler options we will never get what want.
Investing can never be overestimated. Without investment we can never attain financial freedom. No matter how much you make frome the job you do, you need to invest in other for you to grow. 

[Maslate]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.

Risks exist in investment, if one takes the risk then an opportunity will be created. If some one is not willing to take any risk then he can save money through monthly savings. But inflation is rising, saving fiat money is one kind of loss. If a small portion of the income is invested in Bitcoin every month, it can bring a good amount of profit. But it will totally depend on what a person wants to do. Personally I am enthusiastic about investing in Bitcoin with my little amount of savings.

Investing and saving at the same time might be tough especially if you're in a difficult situation but that is very advisable as we don't know what will be the upcoming challenges that we will face in the future. For the friend of OP's situation, he surely have enough time to invest, diversify and save for whatever is in the future as he was in the job for more than 1 decade but unfortunately, he haven't gave any thought about it as he was blinded by the situation where he always met every ends need and forgot that any job is just a temporary one, so we need to have some opening to make an income on the sidelines.

[Uruhara]

Inflation have hit hard around the world. Everything have increased in the price, but the income haven't got raised. The ongoing war have caused severe need of oil and gas. When the demand for oil and gas increases, it directly reflects on the daily needs price increase. We don't know what happens next minute. We need to have a mindset to prepare for the worst, only then we can stay effective with our plans and increase savings lowering the unwanted expenses.

Having early preparations is a step that must be taken to make us always ready for what will happen in the future. Having a reserve fund and continuing to save money by not spending too much money on things that we don't really need will definitely be very helpful in our efforts to save more money. But saving in fiat is certainly better for us to avoid because inflation will continue every year and make the value of our currency continue to decline. so that the purchasing power of the money automatically decreases. Saving in gold I think is the most suitable idea. or investing our savings is also something we can do. at least we should be able to increase the amount and value of the assets we keep.

[Wend]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.

Risks exist in investment, if one takes the risk then an opportunity will be created. If some one is not willing to take any risk then he can save money through monthly savings. But inflation is rising, saving fiat money is one kind of loss. If a small portion of the income is invested in Bitcoin every month, it can bring a good amount of profit. But it will totally depend on what a person wants to do. Personally I am enthusiastic about investing in Bitcoin with my little amount of savings.

Investing in bitcoin is a risky investment because of its extreme volatility. If someone is not willing to take risks to get big rewards, it is possible to invest in gold, it is very safe and can help us avoid inflation because of its stability. I think we should stay away from fiat, and not save all our money in fiat because the value will be lost very quickly and terribly. I also prefer bitcoin to gold because of its benefits, but always be diverse because nothing is certain about the future of bitcoin.

[capedbaldy]

Investing in bitcoin is a risky investment because of its extreme volatility. If someone is not willing to take risks to get big rewards, it is possible to invest in gold, it is very safe and can help us avoid inflation because of its stability. I think we should stay away from fiat, and not save all our money in fiat because the value will be lost very quickly and terribly. I also prefer bitcoin to gold because of its benefits, but always be diverse because nothing is certain about the future of bitcoin.

We have a high probability of investing in bitcoin during the current bear market conditions, I hope the target price of 20k-22k will come soon to increase my portfolio assets, so investing is not a bad choice in terms of volatility if you are patient to buy BTC at low prices and you can share some funds for gold investment due to passive profits in the annual term.

Do an analysis to buy bitcoin using the DCA strategy because the price of bitcoin is unpredictable, so make sure you always save the investment funds to buy bitcoin gradually and focus on buying at low prices.

[Mahanton]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

It will be a bad experience for your friend if he has no savings and suddenly loses his job. but to avoid such a situation, everyone should reduce unnecessary expenses and make savings. but considering the country's economic situation and inflation situation, it is not possible to improve even if only savings are done. so we have to invest in different types of business and increase investment in different potential assets. I think these ways should be adopted along with the job, it will be possible for us to live a happy life

I totally agree with you, just saving will not help us have a prosperous life because of inflation, prices increase yearly, and the currency depreciates, so saving has no effect anymore. Instead, we should invest and accumulate in deflationary assets like gold, real estate, or bitcoin. Only in this way can we deal with the fact that goods are increasing day by day due to inflation. But saving should take precedence over investment, I mean we should have a savings for life before thinking of investment because investment also has certain risks.

Risks exist in investment, if one takes the risk then an opportunity will be created. If some one is not willing to take any risk then he can save money through monthly savings. But inflation is rising, saving fiat money is one kind of loss. If a small portion of the income is invested in Bitcoin every month, it can bring a good amount of profit. But it will totally depend on what a person wants to do. Personally I am enthusiastic about investing in Bitcoin with my little amount of savings.

Investing in bitcoin is a risky investment because of its extreme volatility. If someone is not willing to take risks to get big rewards, it is possible to invest in gold, it is very safe and can help us avoid inflation because of its stability. I think we should stay away from fiat, and not save all our money in fiat because the value will be lost very quickly and terribly. I also prefer bitcoin to gold because of its benefits, but always be diverse because nothing is certain about the future of bitcoin.

Whether you would be investing into stocks or real estates, it wouldn't still guarantee you on making profits or would having that positive outcome because everything is unpredictable.There are lots of factors
which would affect out profitability on whatever investments you would really be dealing into. Speaking about savings then it would really be basing up on someones preference and opportunity on doing so.
There are ones who do mind on having savings and there are ones who are really that wont be able to do so because of lots of expenses and priorities in life. Even myself does have that kind of struggle when it comes to savings on which it would really be just that normal that you would prioritize over things which it would really be that hard for you to set aside or extra out of your income specially if you are
really just that earning sufficient then you wouldn't really be having that kind of opportunity on saving up some spare for future purposes but as much as i can, im really that doing my best because there are
moments in life on which it would really be that hard for you to face up some emergencies and you dont have money.

[Theones]

That is the consequence that when we don't have savings, we inevitably have to do anything,
as long as there is a desire and keep trying I think it will have results later,
besides that it is also necessary to learn to be innovative and creative in opening a business.

Apart from having to be innovative and creative in opening a business, another thing that the business owner still needs to see is the opportunity through a strategic environment so that sales in the business can increase sharply. Because the business owner needs to see what sells best in the environment so he can provide it when a customer orders from him.

This means that business owners need to make their place of business as comfortable as possible with the appearance that is as innovative as possible and also the best possible service to all customers so that they are always interested in coming to our place. This is a very wise strategy in developing a business because in addition to being creative in attracting customers, business owners must also be able to provide more attractive and satisfying services to their customers.

owner needs to keep an eye on all aspect of business to gain benifit.
Financial literacy is one big aspect for sure

[xSkylarx]

Investing in bitcoin is a risky investment because of its extreme volatility. If someone is not willing to take risks to get big rewards, it is possible to invest in gold, it is very safe and can help us avoid inflation because of its stability. I think we should stay away from fiat, and not save all our money in fiat because the value will be lost very quickly and terribly. I also prefer bitcoin to gold because of its benefits, but always be diverse because nothing is certain about the future of bitcoin.

We have a high probability of investing in bitcoin during the current bear market conditions, I hope the target price of 20k-22k will come soon to increase my portfolio assets, so investing is not a bad choice in terms of volatility if you are patient to buy BTC at low prices and you can share some funds for gold investment due to passive profits in the annual term.

Do an analysis to buy bitcoin using the DCA strategy because the price of bitcoin is unpredictable, so make sure you always save the investment funds to buy bitcoin gradually and focus on buying at low prices.

the problem with waiting game like the price of bitcoin went to 22k and you will purchase that is that you will be left out I mean that if that never happened what will you do ? That is why others take an analysis before concluding on where to buy because there are times that the bitcoin start pumping and you dont know where to buy that is why others also of they can afford to buy now then they will buy as they are also looking for holding it for long period of time

[BRINIRHA]

Inflation have hit hard around the world. Everything have increased in the price, but the income haven't got raised. The ongoing war have caused severe need of oil and gas. When the demand for oil and gas increases, it directly reflects on the daily needs price increase. We don't know what happens next minute. We need to have a mindset to prepare for the worst, only then we can stay effective with our plans and increase savings lowering the unwanted expenses.

Pandemics, wars, excessive currency printing and many other things can make the economic crisis worse and continue to occur in a sustainable manner. Surges in the prices of basic necessities, scarcity of gas and oil or other energy resources are also other triggers that usually occur as a result of the impact of a conflict or war between countries. as happened in Russia vs Ukraine. And maybe people also forget that the scarcity of fuel oil and so on is not only caused by war but because there is a policy by a country that imposes economic sanctions on a country. or also because of the failure to establish cooperation between one country and another or something like that.

When all that happened, it was not easy for anyone to avoid the economic crisis. but regarding inflation actually all of that is more about the post-pandemic impact. like because a country prints currency to avoid a recession that occurs during a pandemic due to people being restricted in their activities due to quarantine to avoid spreading the virus. So people started to lose their livelihood which made it difficult for them to make money. so that the government distributes financial assistance to the public to spend. this is done so that the economic cycle continues and does not experience a stalemate that can lead to a recession.

However, after the pandemic was over, it turned out that there was too much money circulating in the community and caused the value of the currency itself to decline and inflation occurred because prices were also driven up due to various reasons. either because of higher demand from consumers and limited production stocks that can be sold by producers. because we know when a pandemic occurred many factories stopped operating. so do not be surprised if when the pandemic is over, the needs of people who have returned to increase are difficult to fulfill because not all of the factories that were closed have reopened.

[mamesso]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

He was able to stay in one job for a decade, being able to stay in the same company for a long time showed he was well paid. After he lost his job his life immediately changed, this shows he has no savings after working for so long. I don't want to blame your friend for the problem he is currently facing, but he has forgotten one thing in his life, namely saving part of his salary.

No one can predict the cycle of life, that's why savings are really needed as an alternative that can lighten your burden when you lose your job. Other people are only able to help as much as they can, the rest they can only provide moral support for your survival.

[Uruhara]

Investing in bitcoin is a risky investment because of its extreme volatility. If someone is not willing to take risks to get big rewards, it is possible to invest in gold, it is very safe and can help us avoid inflation because of its stability. I think we should stay away from fiat, and not save all our money in fiat because the value will be lost very quickly and terribly. I also prefer bitcoin to gold because of its benefits, but always be diverse because nothing is certain about the future of bitcoin.

We have a high probability of investing in bitcoin during the current bear market conditions, I hope the target price of 20k-22k will come soon to increase my portfolio assets, so investing is not a bad choice in terms of volatility if you are patient to buy BTC at low prices and you can share some funds for gold investment due to passive profits in the annual term.

Do an analysis to buy bitcoin using the DCA strategy because the price of bitcoin is unpredictable, so make sure you always save the investment funds to buy bitcoin gradually and focus on buying at low prices.

Investing in bitcoin for the long term can indeed be expected to bring quite a lot of profit. But in the short term it is not good enough because high volatility can make someone who is not familiar with the crypto market mentally depressed. because investing in bitcoin does require patience and the way to accumulate it is indeed better by not being in a hurry and using the DCA method which is the most recommended.

But talking about saving or saving our assets so that their value is maintained, saving in gold is the right choice. and especially if it is for the long term. Because gold is an asset that is resistant to inflation.

[slapper]

Inflation have hit hard around the world. Everything have increased in the price, but the income haven't got raised. The ongoing war have caused severe need of oil and gas. When the demand for oil and gas increases, it directly reflects on the daily needs price increase. We don't know what happens next minute. We need to have a mindset to prepare for the worst, only then we can stay effective with our plans and increase savings lowering the unwanted expenses.

Pandemics, wars, excessive currency printing and many other things can make the economic crisis worse and continue to occur in a sustainable manner. Surges in the prices of basic necessities, scarcity of gas and oil or other energy resources are also other triggers that usually occur as a result of the impact of a conflict or war between countries. as happened in Russia vs Ukraine. And maybe people also forget that the scarcity of fuel oil and so on is not only caused by war but because there is a policy by a country that imposes economic sanctions on a country. or also because of the failure to establish cooperation between one country and another or something like that.

When all that happened, it was not easy for anyone to avoid the economic crisis. but regarding inflation actually all of that is more about the post-pandemic impact. like because a country prints currency to avoid a recession that occurs during a pandemic due to people being restricted in their activities due to quarantine to avoid spreading the virus. So people started to lose their livelihood which made it difficult for them to make money. so that the government distributes financial assistance to the public to spend. this is done so that the economic cycle continues and does not experience a stalemate that can lead to a recession.

However, after the pandemic was over, it turned out that there was too much money circulating in the community and caused the value of the currency itself to decline and inflation occurred because prices were also driven up due to various reasons. either because of higher demand from consumers and limited production stocks that can be sold by producers. because we know when a pandemic occurred many factories stopped operating. so do not be surprised if when the pandemic is over, the needs of people who have returned to increase are difficult to fulfill because not all of the factories that were closed have reopened.

Well, you've struck a chord! Inflation's become an uninvited squatter in our global financial backyard, with price tags doing the cha-cha and wages doing the limbo. This suffocating squeeze is being jazzed up by geopolitical tiffs and the 'musical chairs' situation of our supply chains - especially for VIPs like oil and gas. As a tech junkie with a knack for number-crunching, Bitcoin and its crypto-buddies seem like a light at the end of this tunnel.

Ponder this - these digital darlings aren't puppeteered by Uncle Sam or any of his global counterparts, making them potentially immune to the flu of inflation. Caveat - crypto is a wild roller-coaster ride with plenty of loops, so buckle up! But remember, a rainbow of investments may be the way forward, and crypto is one color in that spectrum.

Covid-crashed economies, money printers on overdrive, more moolah chasing fewer goodies - welcome to the Inflation Olympics! As we nurse economies back to health, brainstorming savvy strategies to kick this inflation menace in the pants is key, perhaps with a pinch of tight-fisted monetary policies and a dollop of tech wizardry.

[ShowOff]

We have a high probability of investing in bitcoin during the current bear market conditions, I hope the target price of 20k-22k will come soon to increase my portfolio assets, so investing is not a bad choice in terms of volatility if you are patient to buy BTC at low prices and you can share some funds for gold investment due to passive profits in the annual term.

But I don't think your hopes will ever come true because it's still very possible bitcoin won't drop that low ahead of the halving. I agree there is potential for a downside of between $22k - $23k before the end of the year, but given that there is good resistance to boosting demand then prices are likely to head higher.

Even during SEC FUD against Binance, bitcoin price was still able to recover after yesterday's dump. Today bitcoin price has again broken through $27.2k in the last 1 hour so don't get your hopes up $20k coming that fast and you should consider buying with DCA for the average low.

[robattfield]

Providing guidance, support, and resources regarding money management and investing can be extremely valuable. You can consider investing, besides saving, as a good approach to potentially increasing their wealth and mitigating the effects of inflation over time. But it's still risky if you really don't understand it. You need to be smart and have the right savings policies to increase your potential for long-term financial stability and growth. These are helpful resources that can help you make informed decisions about your financial future.

[phantailaptopbl]

Supporting your friend during this difficult time is very important, both emotionally and by providing information and assistance. It's important to save money while you still can, especially given the rising cost of living and the potential for unexpected challenges in life. I understand that your friend recently lost his job, and it can be tough. In such situations, it is important to prioritize immediate financial needs, reduce unnecessary expenses, and seek other alternative sources of income if deemed necessary.

if u invest in share market and real-estate is not given profit and gave security  would having that positive outcome because everything is unpredictable. There are lots of factors which would affect out profitability on whatever investments you would really be dealing into. Speaking about savings then it would really be basing up on someone's preference and opportunity on doing so. 

[ringgo96]

Providing guidance, support, and resources regarding money management and investing can be extremely valuable. You can consider investing, besides saving, as a good approach to potentially increasing their wealth and mitigating the effects of inflation over time. But it's still risky if you really don't understand it. You need to be smart and have the right savings policies to increase your potential for long-term financial stability and growth. These are helpful resources that can help you make informed decisions about your financial future.

In addition to saving now, investing is a very important thing for us to do in order to face difficult times for us to face in the future, some people do not consider investing they only rely on their savings even though investing is a more important savings and can be an increase in value when the price increases, as you say give guidance, Support is something that is urgently needed in order to reduce the impact of inflation but some people still ignore the problem.

[barisbilgili]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If me i will focus on saving money because inflation is something that can affect on a lot of people include us. And we can't rely on other people beside ourself. And i know you are a good friend, but just make sure you create border until where you want to help your friend with his life.

that's right, we don't know what will happen in the future and to avoid things we don't want, therefore we must have savings.
I don't have a lot of income, but no matter how small, I always make time to save because I believe it will be of use to me in the future.
in terms of helping others and even fulfilling one's own desires in my opinion there must be a limit, we must be able to manage between what is very important and also important in managing finances and we also have to place saving in the most important thing so regardless of the amount we will make savings.

[Texac]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If me i will focus on saving money because inflation is something that can affect on a lot of people include us. And we can't rely on other people beside ourself. And i know you are a good friend, but just make sure you create border until where you want to help your friend with his life.

that's right, we don't know what will happen in the future and to avoid things we don't want, therefore we must have savings.
I don't have a lot of income, but no matter how small, I always make time to save because I believe it will be of use to me in the future.
in terms of helping others and even fulfilling one's own desires in my opinion there must be a limit, we must be able to manage between what is very important and also important in managing finances and we also have to place saving in the most important thing so regardless of the amount we will make savings.

Many people say that we should not save and should only invest because the current inflation will eat away at our savings.  but I still think it's a good idea to have some savings before thinking about investing.  Because an investment has no guarantee that it will always be profitable and risk-free. What happens when our investment fails, and we need money urgently without any savings? for me, I will accumulate a savings first and only invest after my savings are complete.

[Jody.Drummer]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If me i will focus on saving money because inflation is something that can affect on a lot of people include us. And we can't rely on other people beside ourself. And i know you are a good friend, but just make sure you create border until where you want to help your friend with his life.

that's right, we don't know what will happen in the future and to avoid things we don't want, therefore we must have savings.
I don't have a lot of income, but no matter how small, I always make time to save because I believe it will be of use to me in the future.
in terms of helping others and even fulfilling one's own desires in my opinion there must be a limit, we must be able to manage between what is very important and also important in managing finances and we also have to place saving in the most important thing so regardless of the amount we will make savings.

Not many people can think about the future and prepare for it, I mean they think about it but in their actions they don't take any action, like saving or investing for example. If we follow our ambitions, then we will never be able to save or invest, because we will always be tempted to buy something that is not important, or in other words, we will become wasteful people. Saving or investing requires enormous sacrifices, because it will reduce the level of our purchases of whatever it is. Never think only for today, but we must also prepare for the future. and the future itself is not only for us, but for our descendants as well.

[bayudndy]

Inflation is not only a problem in each country; it is also a problem for the whole world. So reducing everyday expenses and adopting a savings mindset can really help save money and lay the foundation for future investments. Teaching your friend about financial management, budgeting, and cost-cutting strategies is a great step. As your friends get used to these habits, they can explore a variety of investment opportunities by starting to save a significant portion of their income in advance. It's important to prioritize needs over wants and make conscious spending decisions. And encourage your friend to stay motivated, patient, and focused on their long-term financial goals.

[BRINIRHA]

Pandemics, wars, excessive currency printing and many other things can make the economic crisis worse and continue to occur in a sustainable manner. Surges in the prices of basic necessities, scarcity of gas and oil or other energy resources are also other triggers that usually occur as a result of the impact of a conflict or war between countries. as happened in Russia vs Ukraine. And maybe people also forget that the scarcity of fuel oil and so on is not only caused by war but because there is a policy by a country that imposes economic sanctions on a country. or also because of the failure to establish cooperation between one country and another or something like that.

When all that happened, it was not easy for anyone to avoid the economic crisis. but regarding inflation actually all of that is more about the post-pandemic impact. like because a country prints currency to avoid a recession that occurs during a pandemic due to people being restricted in their activities due to quarantine to avoid spreading the virus. So people started to lose their livelihood which made it difficult for them to make money. so that the government distributes financial assistance to the public to spend. this is done so that the economic cycle continues and does not experience a stalemate that can lead to a recession.

However, after the pandemic was over, it turned out that there was too much money circulating in the community and caused the value of the currency itself to decline and inflation occurred because prices were also driven up due to various reasons. either because of higher demand from consumers and limited production stocks that can be sold by producers. because we know when a pandemic occurred many factories stopped operating. so do not be surprised if when the pandemic is over, the needs of people who have returned to increase are difficult to fulfill because not all of the factories that were closed have reopened.

Well, you've struck a chord! Inflation's become an uninvited squatter in our global financial backyard, with price tags doing the cha-cha and wages doing the limbo. This suffocating squeeze is being jazzed up by geopolitical tiffs and the 'musical chairs' situation of our supply chains - especially for VIPs like oil and gas. As a tech junkie with a knack for number-crunching, Bitcoin and its crypto-buddies seem like a light at the end of this tunnel.

Ponder this - these digital darlings aren't puppeteered by Uncle Sam or any of his global counterparts, making them potentially immune to the flu of inflation. Caveat - crypto is a wild roller-coaster ride with plenty of loops, so buckle up! But remember, a rainbow of investments may be the way forward, and crypto is one color in that spectrum.

Covid-crashed economies, money printers on overdrive, more moolah chasing fewer goodies - welcome to the Inflation Olympics! As we nurse economies back to health, brainstorming savvy strategies to kick this inflation menace in the pants is key, perhaps with a pinch of tight-fisted monetary policies and a dollop of tech wizardry.

And in the improvements that are being made by each country and the central bank, such as by raising interest rates and hoping to withdraw little by little the excess that has already spread to the public. So. In fact, this step has now proven to be quite effective. although it turns out that this has also triggered another enemy in a country's economy that is just as important to avoid, namely a recession. and the solution that the Central Bank and countries experiencing a recession have, of course, is to reduce the interest rate that they originally raised again. And hope to get people to withdraw their money again and start spending quite actively.

But right now what I've noticed is that people's awareness of saving money and making preparations for the long term and for reserve funds has increased tremendously. So that saving and investing now seems to have become a common and important conversation that is currently becoming a hot conversation in the community.

Public awareness in investing has also grown quite rapidly. I'm afraid they have a high interest in investing but they lack knowledge of where to invest safely for them. Crypto, especially bitcoin, is actually quite safe, even though it also carries a high risk due to its high volatility. It's just that if it's for the long term then at least inflation can't do much to touch Bitcoin. It's just that to invest in bitcoin, beginners also have to know and study it first before finally deciding.

[kojektea]

learn to buy anything as needed not from what we want just to fulfill prestige. the money we use to fulfill our prestige is usually only to buy goods that in the future will have a low value to re-sell. learn to live much simpler even when we become rich people, there are many people we can help compared to having to buy something just to satisfy our prestige. saving if we are already rich is also not good, because the money we save will continue to inflate, if the problem is saving, it's better to invest in gold only.

[synchronym]

The world is suffering from an unprecedented economic crisis due to the war between Ukraine and Russia. The price of every essential item has gone up manifold.
 We need to reduce unnecessary spending and increase savings. As we can learn that brother said his friend suddenly lost his job. He never thought such a time would come in his life. So we always have to save something for any change in our life. So that those savings are useful for us in the day of our danger. So we all should do some saving while we have time.

[Uruhara]

The world is suffering from an unprecedented economic crisis due to the war between Ukraine and Russia. Every dance necessity, including oil gas, has increased in price. We need to reduce unnecessary spending and increase savings. As we can learn that brother said his friend suddenly lost his job. He never thought such a time would come in his life. So we always have to save something for any change in our life. So that those savings are useful for us in the day of our danger. So we all should do some saving while we have time.

Indeed, we should be able to get used to living simply and start saving so that we can save our finances and set them aside for saving and investing in part. We must have long-term planning and make the most of everything we can do right now. Have a reserve fund, future savings and long term investment. all of that is needed to build preparations so that we can face the economic crisis that might come again. Currently the economic crisis has actually begun to subside in several countries. even the rate of inflation has decreased quite nicely. It's just that we can't be careless with this situation and instead we have to take advantage of it to make preparations for the next storm.

[bettercrypto]

It's still very important to have what are called emergency funds, that's why others even though they know this method is good, they still can't do it. Maybe because they don't know how to do the so-called financial management, or others can't make a decision right away because of the expenses they face in life.

They were too busy to make a move on something like this. Even I can't do it right away with the amount of expenses and bills in life, even if I can do it little by little, not all of a sudden, I can save a lot instead of just a small amount.

[Fredomago]

The world is suffering from an unprecedented economic crisis due to the war between Ukraine and Russia. Every dance necessity, including oil gas, has increased in price. We need to reduce unnecessary spending and increase savings. As we can learn that brother said his friend suddenly lost his job. He never thought such a time would come in his life. So we always have to save something for any change in our life. So that those savings are useful for us in the day of our danger. So we all should do some saving while we have time.

Indeed, we should be able to get used to living simply and start saving so that we can save our finances and set them aside for saving and investing in part. We must have long-term planning and make the most of everything we can do right now. Have a reserve fund, future savings and long term investment. all of that is needed to build preparations so that we can face the economic crisis that might come again. Currently the economic crisis has actually begun to subside in several countries. even the rate of inflation has decreased quite nicely. It's just that we can't be careless with this situation and instead we have to take advantage of it to make preparations for the next storm.

We need to move as quick as possible in terms of minimizing our expenses and move those save money into something that can prosper us in a passive way, not just to save but also a good mindset in finding what kind of investment or business that we can start to use those save money for a better potential benefits.

Though focusing on how you can save and how you can continually work with saving your weekly or monthly expenses will help you
to achieve your goals in terms of financial stability.

[Uruhara]

The world is suffering from an unprecedented economic crisis due to the war between Ukraine and Russia. Every dance necessity, including oil gas, has increased in price. We need to reduce unnecessary spending and increase savings. As we can learn that brother said his friend suddenly lost his job. He never thought such a time would come in his life. So we always have to save something for any change in our life. So that those savings are useful for us in the day of our danger. So we all should do some saving while we have time.

Indeed, we should be able to get used to living simply and start saving so that we can save our finances and set them aside for saving and investing in part. We must have long-term planning and make the most of everything we can do right now. Have a reserve fund, future savings and long term investment. all of that is needed to build preparations so that we can face the economic crisis that might come again. Currently the economic crisis has actually begun to subside in several countries. even the rate of inflation has decreased quite nicely. It's just that we can't be careless with this situation and instead we have to take advantage of it to make preparations for the next storm.

We need to move as quick as possible in terms of minimizing our expenses and move those save money into something that can prosper us in a passive way, not just to save but also a good mindset in finding what kind of investment or business that we can start to use those save money for a better potential benefits.

Though focusing on how you can save and how you can continually work with saving your weekly or monthly expenses will help you
to achieve your goals in terms of financial stability.

Correct. Saving money in certain investments can indeed be expected to be much more effective in building a better future. Even if we find an investment target that can make us earn passive income, of course it will be even better. It's just not easy to build an investment that can bring in passive income in the future. but we really have to start from now and should not delay it for a later time. Especially if we currently have sufficient sources of income, we must make good use of them.

[odunybiz]

It's still very important to have what are called emergency funds, that's why others even though they know this method is good, they still can't do it. Maybe because they don't know how to do the so-called financial management, or others can't make a decision right away because of the expenses they face in life.

They were too busy to make a move on something like this. Even I can't do it right away with the amount of expenses and bills in life, even if I can do it little by little, not all of a sudden, I can save a lot instead of just a small amount.

Just like you have said , majority knows the importance of emergency fund but find it difficult to go with it because of their little month earnings. How can someone who has already borrowed money up  to half of his salary think of emergency fund when he has such debt to pay.

[mich]

Yes I am saving my money and I am not buying a lot of things. If I am going to buy something it is for survival like my food and only things I need.
For me, personal luxuries are not so important. I enjoy nice things but not as much as being part of such a huge technological revolution like Bitcoin. If I spend any extra money I have it is on Bitcoin.
It is nice of you to be helping your friend when he lost his job. And to prepare for the next challenges in your life is a difficult thing to also do. 

[smile1218]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Sorry to hear about what happened to your friend. A lot of people experiencing now the impact of inflation all over the world. There are people who had been retrenched to their jobs and could not even support their financial needs. That is good to know that you are helping your friend when it comes to his finances. If i were in your shoes i will help also if i have a lot of excess funds. I will encourage him to find other job so that they can survive from the time being. That is right thing to do to save more money in preparation for unexpected challenges in life because we never know when will be that challenges will occur. It is better to save for the future for us not to suffer or experience unexpected challenges.

[@forxample]

Inflation have hit hard around the world. Everything have increased in the price, but the income haven't got raised. The ongoing war have caused severe need of oil and gas. When the demand for oil and gas increases, it directly reflects on the daily needs price increase. We don't know what happens next minute. We need to have a mindset to prepare for the worst, only then we can stay effective with our plans and increase savings lowering the unwanted expenses.

In addition to increasing savings, we need to find other incomes by working overtime, investing...Because if we focus only on saving, it will not solve problems like daily rising commodity prices and worsening inflation. Saving is a good thing to do, but it does not mean that excessive saving affects health. As we all know, health is the primary basis for creating money, so don't be too frugal but think about your health. Be saving with life's useless things, and don't be frugal with your health.

I agree with the opinion "that if you save excessively it will affect your health. Saving by excessively saving will affect your health. For example; you reduce your portion of food which should be 3 times a day to 2 times a day and which is usually in each time If you eat complete nutrition, you have to reduce it for the reason of saving and plus you have to work overtime to add to your savings. So what happens is your health decreases due to lack of nutrition while you have to work extra so what happens is you get sick and your savings those of you whose initial intention was to save to deal with inflation now have to be used to pay for the hospital for your health so that you can recover to work again.

and it's true to increase your savings so save money by refraining from buying something you want but buying something you need. Save money without risking your health.
Doing business and investing is one way to increase your income.

[israt1@]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

[Uruhara]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

If it's about taking care of health then I think it's definitely more important. because health is the most important factor that a person must have and must be prioritized over financial. Because even though we can save money and have a lot of money for the future, if we are not good at maintaining our health, we cannot enjoy the money we collect in peace and joy. because maybe we will only fight to get healed.

So the thing that should be prioritized is health. because health is the biggest investment and what we need most in our lives far beyond money and only then manage finances such as savings so that we can save and invest for the future. it would be better if we can still save money while keeping our health maintained. so that in old age you can still have a healthy body and strong finances.

[ElmedoRator]

Prioritizing our necessities and living within our means is crucial when it comes to saving money effectively. The issue is not the size of the income, but the ability to spend a portion of it consistently. Building the habit of saving, no matter the amount, is the most important thing. People with higher incomes can sometimes fall into the lifestyle inflation trap, where their expenses increase proportionally to their income, leaving little room for savings. This can hinder their ability to secure their financial future. On the other hand, low-income individuals who prioritize saving and living within their means can still make significant progress toward their financial goals. By making conscious spending choices and consistently saving a portion of our income, we can ensure financial stability and work towards our long-term goals.

[bestcoins1]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

[Theones]

Supporting your friend during this difficult time is very important, both emotionally and by providing information and assistance. It's important to save money while you still can, especially given the rising cost of living and the potential for unexpected challenges in life. I understand that your friend recently lost his job, and it can be tough. In such situations, it is important to prioritize immediate financial needs, reduce unnecessary expenses, and seek other alternative sources of income if deemed necessary.

That is correct - if it is not easy to earn more money then the best approach of life is to reduce your expenses as much as you could and try to save as much as you could.
But in my opinion its not a good option to help others especially those who are habitual in borrowing money.

[Cryptock]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

Saving is a good thing - but no at the cost of other people's expense
some people would save as much money but they would be ruining the finances of other people for their own pleasure.

[Betwrong]

The definition of saving is setting aside some money from income for future financial needs, including for emergency needs, converting to assets to focus on annual profits, financial independence, and avoiding debt when we are in a financial crisis due to unexpected events such as the pandemic last year.



The picture above is called the "50/30/20 Strategy", the most ideal financial management strategy that anyone can apply regularly and disciplined from each monthly income, the explanation for the term 50 is to use 50% of monthly income for the utilization of funds for routine needs and expenses, the second term is 30% of income for the allocation of funds to realize your desires (not routine needs) because your hobby is buying collectibles, funds for holidays and etc. The last of the 20 terms is to set aside 20% of your monthly income for future beneficial savings.
~

I'm sure, saving 20% of your income is a good strategy when you have all your needs met with the remaining 80%. I mean shopping, dining out, and even hobbies are presented in the picture in the Wants section. What else do you need? Of course it's better to be saving money for the future than spending it on the things you don't need. But we should not forget that many people in the world don't have money for dining out and hobbies, let alone saving beyond those expenses.

[Uruhara]

Supporting your friend during this difficult time is very important, both emotionally and by providing information and assistance. It's important to save money while you still can, especially given the rising cost of living and the potential for unexpected challenges in life. I understand that your friend recently lost his job, and it can be tough. In such situations, it is important to prioritize immediate financial needs, reduce unnecessary expenses, and seek other alternative sources of income if deemed necessary.

That is correct - if it is not easy to earn more money then the best approach of life is to reduce your expenses as much as you could and try to save as much as you could.
But in my opinion its not a good option to help others especially those who are habitual in borrowing money.

Cutting all types of expenses that are not too important is the first step that can be taken to be able to reduce expenses and save the remaining money that. While looking for a job that can generate and provide income. And we can also help our friends by looking for information or something about job vacancies or something like that. And we must not leave our friends who are in a difficult position. We must support him. even though not with the material but we can help with other things. because one day we will also need a friend by our side. because basically humans are social creatures and cannot live alone.

[Semar Mesem]

Saving money is something that must be done by anyone who wants to change the future for the better, if we don't save then we can be sure the future will be difficult and disappointing, and the best thing right now is saving while investing and we can get this in cryptocurrencies.

[Japinat]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

Yes, I definitely agree. Saving is really important because we do not know what will happen down the road and we might need something for emergency purposes but don't forget that saving and investing is two different words with two different meaning because you probably don't want to touch your investments that is supposed to give you profits for future purposes like emergencies and sudden bills that you did not expected.

[Mate2237]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Life is always unpredictable so if there is an opportunity to save money for the future my brother, you have to do because anything can happen at anytime. As for your friend case, the only help you can render for him so to find work for him because if you want to help him with financial assistance, my brother you can not do because he will be asking you whenever he is down. Even the work will pay him less than the former work it will be manageable than giving him money always.

[Fredomago]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

Yes, I definitely agree. Saving is really important because we do not know what will happen down the road and we might need something for emergency purposes but don't forget that saving and investing is two different words with two different meaning because you probably don't want to touch your investments that is supposed to give you profits for future purposes like emergencies and sudden bills that you did not expected.

Correct you need to understand that there's differences between saving and investing, if you plan to invest and you don't want to use it for emergency make sure that you are using spare for that particular investment, you need to have seperate savings for emergency purpose to make sure that you will not use your invested money, there's chance that if you force to use invested money the value is at loss and you don't have choice but to withdraw so it's always better to have extra for this kind of purposes.

[Cryptock]

Correct you need to understand that there's differences between saving and investing, if you plan to invest and you don't want to use it for emergency make sure that you are using spare for that particular investment, you need to have seperate savings for emergency purpose to make sure that you will not use your invested money, there's chance that if you force to use invested money the value is at loss and you don't have choice but to withdraw so it's always better to have extra for this kind of purposes.

and then there is difference between luck and bad luck and when world says "give up'' hope wishpers try it one more time

[Swordsoffreedom]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

Yes, I definitely agree. Saving is really important because we do not know what will happen down the road and we might need something for emergency purposes but don't forget that saving and investing is two different words with two different meaning because you probably don't want to touch your investments that is supposed to give you profits for future purposes like emergencies and sudden bills that you did not expected.

Correct you need to understand that there's differences between saving and investing, if you plan to invest and you don't want to use it for emergency make sure that you are using spare for that particular investment, you need to have seperate savings for emergency purpose to make sure that you will not use your invested money, there's chance that if you force to use invested money the value is at loss and you don't have choice but to withdraw so it's always better to have extra for this kind of purposes.

There are still a lot of people who confuse saving and investing. Many people say that instead of saving in fiat, save in bitcoin, and that is a misconception. Bitcoin is very volatile, and if all our savings were put in bitcoin when bitcoin was worth $69k. And we need those savings for emergencies, and the bitcoin price has halved, meaning we'd have lost half of our savings if we used it immediately. Are we brave enough to use that bitcoin?
Saving is more important than investing, and when it comes to saving, we should think of fiat or a savings account in a bank, not a highly volatile asset like bitcoin.

[Sexylizzy2813]

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

Not everybody knows how to save or even drag their hard earned money to invest in either Bitcoin or real estate like you said. Not that they don't want to but they need a push, like someone to push them to make that big move (although we still have people who does things without being pushed to do it).
I know of someone who used the little money he gets from his hustle to build his own house, not that the money is even enough but he did it 50/50, invest in half of it and use the remaining to take care of himself and his family, now he can smile and enjoy his sweat. Even the old can save talk less of we the younger ones, we have brighter ideas on what to invest on.

[Rupok]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

[crunck]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

Savings are necessary but won't be enough to get you through a period of unemployment because if you don't get a job soon, those savings will quickly be used up. Besides saving, I think any man should have an investment because investing in it can help us increase the amount over time, not standing still like saving. That will help a lot if one day we are unemployed, but investment is risky so be careful in choosing assets to invest.

[Fredomago]

There are still a lot of people who confuse saving and investing. Many people say that instead of saving in fiat, save in bitcoin, and that is a misconception. Bitcoin is very volatile, and if all our savings were put in bitcoin when bitcoin was worth $69k. And we need those savings for emergencies, and the bitcoin price has halved, meaning we'd have lost half of our savings if we used it immediately. Are we brave enough to use that bitcoin?
Saving is more important than investing, and when it comes to saving, we should think of fiat or a savings account in a bank, not a highly volatile asset like bitcoin.

Exactly, if you put more with your savings and emergency happened the money can freely use without any regrets, the example you provided is reality that we can experienced when we invest with crypto, the volatility can't give us any assurance that we can earn money, it's a matter of how you established your trust with particular asset that you bought and hold.

And same with using spare aside from your save money in your fiat account, spare can be store long time without any hesitations, you can keep it till it reach the target that you want to sell your assets.

[Uruhara]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

That's why it's so important for us to have savings and investments while we still have income. Take advantage of every opportunity that exists so that we don't regret it in the future.

Saving is sometimes quite difficult to get used to. Sometimes we become too relaxed and forget not to save money when our economy is doing well. Even though we have to get used to saving behavior even when our economy is stable. so that we always have a backup plan and a reserve fund resulting from the savings and investments that we have made of every money we set aside from the habit of saving

[m2017]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

Savings are necessary but won't be enough to get you through a period of unemployment because if you don't get a job soon, those savings will quickly be used up. Besides saving, I think any man should have an investment because investing in it can help us increase the amount over time, not standing still like saving. That will help a lot if one day we are unemployed, but investment is risky so be careful in choosing assets to invest.

No matter how significant the savings are, sooner or later it will end. My attitude to monetary savings is positive, but in my opinion, this should not be 100% relied upon, because inflation is merciless to such forms of savings. Otherwise, things are with investment. There is an opportunity to freeze inflation (for example, investing in gold), as well as an opportunity to overtake inflation (stock market or crypto market). But the side effect of all this will be risks. Therefore, I would single out another category - this is an investment in yourself, your knowledge and skills. Left without a job, new skills can allow you to survive a difficult period due to the opportunity to earn money in other directions. It may turn out that the return would even be higher if you were just trying to save this money (spent on obtaining new skills and abilities). So, investing in your own potential would be the smart way out.

[ajiz138]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

That's why it's so important for us to have savings and investments while we still have income. Take advantage of every opportunity that exists so that we don't regret it in the future.

Saving is sometimes quite difficult to get used to. Sometimes we become too relaxed and forget not to save money when our economy is doing well. Even though we have to get used to saving behavior even when our economy is stable. so that we always have a backup plan and a reserve fund resulting from the savings and investments that we have made of every money we set aside from the habit of saving

Only lazy people ignore this opportunity, while people who have dreams will definitely think about the future with their savings and investments as long as they can still earn, especially at a very young age, so that's important and you have to get used to saving for long term needs or when ongoing crisis.

Actually saving is a trivial thing but it's hard for most people to do so they often ignore it, it's no wonder their souls maybe only for a moment when getting a salary from work is only spent for a month with unnecessary needs while saving is to create a reserve fund and it will be enjoyed when we can't work anymore maybe for old age later.

[Gulttam2a2]

Yes of course I still save money.That's because we can't tell or predict what will happen to us in the future. Many earn money by doing business, job and more. They mostly spend for family and they save some for future. They save so that they can spend the money on their work. Many families have younger members who are busy at times. But many times it can't be timely because there are many people who don't save due to which they can't meet the requirement of small member. All the people in the world are not same. So I think saving is definitely for better future.

[eightdots]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

[Theones]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

It is a good idea to save as much money as you could. But most of the time people do that when they go through some trouble

[Ebede]

Yes is good to save money because it helps when you are in need, it is very important for people to learn the habit of saving because saving is very important you don't have to spend everything you earn save more than you spend, no person prays for anything bad to happen but a life without savings is risky and dangerous.

[Uruhara]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

That's why it's so important for us to have savings and investments while we still have income. Take advantage of every opportunity that exists so that we don't regret it in the future.

Saving is sometimes quite difficult to get used to. Sometimes we become too relaxed and forget not to save money when our economy is doing well. Even though we have to get used to saving behavior even when our economy is stable. so that we always have a backup plan and a reserve fund resulting from the savings and investments that we have made of every money we set aside from the habit of saving

Only lazy people ignore this opportunity, while people who have dreams will definitely think about the future with their savings and investments as long as they can still earn, especially at a very young age, so that's important and you have to get used to saving for long term needs or when ongoing crisis.

Actually saving is a trivial thing but it's hard for most people to do so they often ignore it, it's no wonder their souls maybe only for a moment when getting a salary from work is only spent for a month with unnecessary needs while saving is to create a reserve fund and it will be enjoyed when we can't work anymore maybe for old age later.

Yeah right. And in essence, we must have a goal or ideals that we want to achieve in order to foster motivation and awareness to try to achieve it more by saving and investing. It's just that saving is a process that requires patience and mature emotional management. because sometimes there are people who can be consistent in saving at the beginning but then start to lose their consistency and start to lose their habit of saving. then it is also important to maintain motivation within us so that we can remain consistent in managing finances including saving and investing in them.

[slapper]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

Your pal's in a pickle, and you helping him deserves a round of applause. Now, about inflation - spreading your investments beyond your local bucks is a smart move. It's like not betting on a single horse. Crypto, gold, and stocks could be your shield against inflation.

But, here's a brain tickler - it isn't as simple as just snagging dollars or assets. Market swings are as predictable as a cat on a hot tin roof, and without savvy, you could face big losses.

About your savings? Go for the "stash for a stormy day" method. A slice of your income should be saved regularly for unexpected hurdles. Look into earning while you snooze, side jobs, or skill upgrades. An extra income stream or a hotter skill set can be a game-changer.

[Fredomago]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

Your pal's in a pickle, and you helping him deserves a round of applause. Now, about inflation - spreading your investments beyond your local bucks is a smart move. It's like not betting on a single horse. Crypto, gold, and stocks could be your shield against inflation.

But, here's a brain tickler - it isn't as simple as just snagging dollars or assets. Market swings are as predictable as a cat on a hot tin roof, and without savvy, you could face big losses.

About your savings? Go for the "stash for a stormy day" method. A slice of your income should be saved regularly for unexpected hurdles. Look into earning while you snooze, side jobs, or skill upgrades. An extra income stream or a hotter skill set can be a game-changer.

Without proper knowledge you will lose your investment, not a simple buy low and sell high market, there's always a right timing and you need to learn more about it to enhance your chance of making decent profits. In terms of savings, yes, portions of your monthly salary would work especially for some cases that you needed emergency fund to cover your expenses.

[Adams0001]

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

[BenCodie]

During these times, there must always be a backup plan. A plan that includes utilizing skills, diversifying, taking advantage of unique opportunities, networking and collaborating with others, and other entrepreneurial skills that with dedication, are easy for anyone to achieve.

Your friend needs to do exactly this. Focus on these attributes, create a plan, make changes and execute. It will be hard in the interim, however the longer that is left without trying, the more time he will suffer for. Or, the more likely he will resign to a much lower paying job and damage the quality of life for not just himself but his family too.

I wish him (and everyone going through a similar scenario) the best of luck in turning things around.

[Litzki1990]

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Humans are born to earn money and spend that money more easily than it costs to earn. And there are some people who earn a huge amount of money but behave like a poor family. Basically they keep their money for future plans. And there are more people who need to borrow their monthly income before the end of the month. We should learn to save money even if we think about the future. Usually eating in restaurants is very expensive so we should refrain from eating in restaurants. Then we have to set some standards on our own clothes, such as not buying clothes at a higher price, but buying clothes at a normal price and wearing them. In this way, if we can move around, then we can save some money from our earned money and save that money for the future.

[rojan]

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Humans are born to earn money and spend that money more easily than it costs to earn. And there are some people who earn a huge amount of money but behave like a poor family. Basically they keep their money for future plans. And there are more people who need to borrow their monthly income before the end of the month. We should learn to save money even if we think about the future. Usually eating in restaurants is very expensive so we should refrain from eating in restaurants. Then we have to set some standards on our own clothes, such as not buying clothes at a higher price, but buying clothes at a normal price and wearing them. In this way, if we can move around, then we can save some money from our earned money and save that money for the future.

I agree with you. I think we have to spend as much as we need. Again we have to see that the expenditure does not exceed the income.If we have any bad addictions we need to get rid of them now. And we have to stay away from luxury. If we can live a simple life we ​​can save a lot of money and live well. So we have to stay away from luxurious life thinking about the future and live honestly.

[CageMabok]

It is a good idea to save as much money as you could. But most of the time people do that when they go through some trouble

Actually, to make savings in terms of using money it would be better to do it when a person has not been hit by any problems in his life, because when a person has been hit by a problem in his life, he definitely won't be so focused and consistent in saving his money. So it will be difficult for him to save money because he did it at the wrong moment, not at the right moment in his life. So make savings at the right moment before problems approach us so that we can be more consistent in saving by not using more time to solve existing problems or what we are facing.

[Betwrong]

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

That's a good analogy, actually. Indeed, both things are hard to do although we know it's better to do it. There's only one difference and I think it's important to keep that in mind that losing weight when overweight is always good for your health, while saving on quality food can be bad for your health, so we have to be careful with that.

[Uruhara]

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Yes, thrifty is not a fun thing. especially if we are used to living extravagant and luxurious. It's just that the awareness to have good preparation for the future will encourage us to be frugal and save more. Because when we have plans and goals, motivation will appear within us and sometimes there is satisfaction in itself when we almost reach our goals. and in the end we will get used to living simply and saving.

[Fredomago]

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Yes, thrifty is not a fun thing. especially if we are used to living extravagant and luxurious. It's just that the awareness to have good preparation for the future will encourage us to be frugal and save more. Because when we have plans and goals, motivation will appear within us and sometimes there is satisfaction in itself when we almost reach our goals. and in the end we will get used to living simply and saving.

Your goal will be a perfect motivation to continue making things to happen, there are people who forget about what can be possibly happen in the future, they are just simply enjoying their present life and forget about saving their fortunes, while there are practical types of people who more on thinking about how life will be when they already old and can no longer do things the same way as they can in the present time.

It's like more on trying to balance and be prepared to how you want to see yourself when time comes and you are already on your retirement age, your set goal will help you saving decently to achieved anything.

[leonair]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Savings will also not do well at a time when the value of money starts to decrease. But it will work when one is deprived of income in all respects. Investment is the only solution to deal with all situations. But if you invest in the right place and make at least 20% annual profit, you can face all the situations. otherwise you will not be able to cope with the situation by savings only. It can give you temporary backup but not long term backup. that is the only truth

[mirakal]

Yes is good to save money because it helps when you are in need, it is very important for people to learn the habit of saving because saving is very important you don't have to spend everything you earn save more than you spend, no person prays for anything bad to happen but a life without savings is risky and dangerous.

Very well said, apart from saving, we should also learn how to diversify our investments so that we can invest more rather than sticking with a single investment because what we have right now is just a temporary and not a permanent thing where we can enjoy and depend on for the rest of our lives. And just like what is mentioned/quoted above, nobody prays for a tough situation but having some investments as well as savings will literally make your life more ease even in tough times.

[Hamphser]

Yes is good to save money because it helps when you are in need, it is very important for people to learn the habit of saving because saving is very important you don't have to spend everything you earn save more than you spend, no person prays for anything bad to happen but a life without savings is risky and dangerous.

Very well said, apart from saving, we should also learn how to diversify our investments so that we can invest more rather than sticking with a single investment because what we have right now is just a temporary and not a permanent thing where we can enjoy and depend on for the rest of our lives. And just like what is mentioned/quoted above, nobody prays for a tough situation but having some investments as well as savings will literally make your life more ease even in tough times.

Diversify as much as you can and find other sources as much as you can on which it would really be no problem when it comes on saving up money if you do really have various income sources but still its really

that suggestable that you should really be mindful when it comes to this because there are really moments in life on which we do really be able to have that depleted wallet or bank account on which
there's no other way that we could be able to get some funds on which this is where savings would kicked in.Its not really just for the sake of having that extra money but also having that main
purpose on which these amounts would really be used for emergencies and other correlated things. You would really be able to realize and know its importance when you are already on such condition.

[xSkylarx]

Yes is good to save money because it helps when you are in need, it is very important for people to learn the habit of saving because saving is very important you don't have to spend everything you earn save more than you spend, no person prays for anything bad to happen but a life without savings is risky and dangerous.

Very well said, apart from saving, we should also learn how to diversify our investments so that we can invest more rather than sticking with a single investment because what we have right now is just a temporary and not a permanent thing where we can enjoy and depend on for the rest of our lives. And just like what is mentioned/quoted above, nobody prays for a tough situation but having some investments as well as savings will literally make your life more ease even in tough times.

It is another form of source of income that can really change your life. As others have said, no one gets rich working in offices unless you have a high salary there, but to us, we won't get rich because we need to invest in something. No matter how hard and rough you are going through, at the end of the road it will be fruitful. That is why right now people are really saving because they want to invest and take a risk on something as that is their chance to get rich.

[crypticj]

I'm sorry to hear that. it's very sad to see things like this happen.
That's why I always save money just incase something bad will happen to me or to my family, it's always good to be prepared for anything.
I'm sure you and your friend will get out of this situation so good luck to both of you!
And about savings, I live by the 30-70 rule, I spend 30% and save 70% every time I can.

[Uruhara]

Some people cannot rely solely on their wage; they must plan ahead of time because anything can happen. They cannot stay in a permanent position in the government and must save money. Saving money is analogous to losing weight. We all understand the concept of eating less and exercising more. We understand that in order to conserve money, we must spend less and earn more. Basically, I believe we simply do not want to do it. It's more enjoyable to eat a cookie or spend $100 than to eat vegetables or put money in savings.

Yes, thrifty is not a fun thing. especially if we are used to living extravagant and luxurious. It's just that the awareness to have good preparation for the future will encourage us to be frugal and save more. Because when we have plans and goals, motivation will appear within us and sometimes there is satisfaction in itself when we almost reach our goals. and in the end we will get used to living simply and saving.

Your goal will be a perfect motivation to continue making things to happen, there are people who forget about what can be possibly happen in the future, they are just simply enjoying their present life and forget about saving their fortunes, while there are practical types of people who more on thinking about how life will be when they already old and can no longer do things the same way as they can in the present time.

It's like more on trying to balance and be prepared to how you want to see yourself when time comes and you are already on your retirement age, your set goal will help you saving decently to achieved anything.

Well, that's exactly what I meant. Because if someone thinks about the future then of course he will try more to have mature preparations since he was young. Even in this forum we talk a lot about the goal of getting financial freedom at a young age so that we can retire early from work and can enjoy life more relaxed in old age. although it is not easy but as long as we try and are consistent in carrying out every plan to get financial freedom, sooner or later we will arrive at our goal.

[Inwestour]

It is another form of source of income that can really change your life. As others have said, no one gets rich working in offices unless you have a high salary there, but to us, we won't get rich because we need to invest in something. No matter how hard and rough you are going through, at the end of the road it will be fruitful. That is why right now people are really saving because they want to invest and take a risk on something as that is their chance to get rich.

The money that we can save must be invested so that it generates income, this is the basic rule of rich people. You can earn a lot, but you can't become free if your money doesn't work for you.

The bottom line seems very simple, but most people stop at the stage of saving, when at the end of the month we save some money and that's it. Sometimes people decide to invest their money in a bank at low interest rates and believe that this can bring them income, but in fact this is not even enough to cover the inflation rate. And so it never comes to real investment, because it looks very complicated for ordinary people.

[Gallar]

Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family.

ware and always procrastinate about saving, maybe that's what happened to your friend too. But on the other hand, maybe your friend only has a mediocre salary, which is enough for his daily life with his family, and makes it difficult to save. But if for example the salary is quite large and exceeds the needs of the family, maybe it's because you feel complacent with having a job, which your friend might think, you don't need to save anymore, because the job already exists and maybe your friend thinks that the job will be very long term. That's what is called being too calm to forget about the worst possibility.

If you were him, how would you survive this tough time ?

If that's the case, the best thing to do is find another job. The most important thing is to be able to cover all the needs of the family first. Because when the situation changes drastically like that, capital definitely won't exist. Having skills also won't be enough if it's not accompanied by capital, so even if you want to try to open a business, you definitely won't be able to.
So the only way is definitely to find a new job as soon as possible.

As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

Saving is also a good step, but maybe the risk will be eaten up by inflation. So I advise you to save as well as invest. Whether it's in crypto assets like bitcoin, or into other assets.

[Uruhara]

Yes is good to save money because it helps when you are in need, it is very important for people to learn the habit of saving because saving is very important you don't have to spend everything you earn save more than you spend, no person prays for anything bad to happen but a life without savings is risky and dangerous.

Very well said, apart from saving, we should also learn how to diversify our investments so that we can invest more rather than sticking with a single investment because what we have right now is just a temporary and not a permanent thing where we can enjoy and depend on for the rest of our lives. And just like what is mentioned/quoted above, nobody prays for a tough situation but having some investments as well as savings will literally make your life more ease even in tough times.

So true. So the conclusion is that we should be able to save and invest when we are able to do so. sometimes laziness is the main enemy in saving. Because we prefer to spend everything especially buying trending things. But if we are aware of the importance of preparing for the future, then saving will definitely become a habit. And regarding investment, we can actually invest in two things, namely digital investment and physical investment. both are just as good. but we also have to have an investment that can later make us generate income without having to work which is usually called Passive Income.

[puloweh555]

I agree with you. I think we have to spend as much as we need. Again we have to see that the expenditure does not exceed the income.If we have any bad addictions we need to get rid of them now. And we have to stay away from luxury. If we can live a simple life we ​​can save a lot of money and live well. So we have to stay away from luxurious life thinking about the future and live honestly.

Saving even a little must be done consistently so that it becomes a habit for yourself, at least for an emergency fund. don't later when we need money instead we owe it here and there. Everything is an important element of balance between saving and lifestyle because the two are closely related where when we really need it and it's important it's okay to use our money, we have to get used to not buying things that are not too important.

Basically Everything Going back to our own mindset, if you can save money, take care of your physical and mental health and be able to manage stress that's good. there's nothing wrong with saving, even if it's as small as it is, it's sure to be useful for ourselves, even though our monthly income is small. Live a lifestyle according to your ability, keep saving even if it's small it will be useful for you, learn to be concerned about yourself. It's just as smart as it is to manage finances, because in life it's certain that everything won't always go smoothly, if you save money there must be an emergency fund that we can't predict and we can use it if we need it suddenly.

[terencio]

 If I were him, I would try to look for other sources of income, such as online freelancing or part-time jobs, while applying for new positions in my field. I would also seek support from my family, friends and community organizations that can offer financial or emotional assistance.

[Bananington]

Same advice to save money while it is in excess is always evergreen. It never goes out of the books of advice on how to be financially responsible to the point where it saves one from embarrassing situations and insults.
Alternative sources of earning income, came up as a favorite position to always put oneself in when a job and age and family grow bigger. Even while living as a single person/bachelor/spinster, please find other means to earn. The best form of saving for most is to invest, maybe buy some crypto assets and securities from trusted sources and HODL. Nothing also beats going freelance at ones spare time, or turning a favorite hobby into an income source.

The guy in this person has sure learnt a life lesson to be able to advice on such matter.

[slapper]

I agree with you. I think we have to spend as much as we need. Again we have to see that the expenditure does not exceed the income.If we have any bad addictions we need to get rid of them now. And we have to stay away from luxury. If we can live a simple life we ​​can save a lot of money and live well. So we have to stay away from luxurious life thinking about the future and live honestly.

Saving even a little must be done consistently so that it becomes a habit for yourself, at least for an emergency fund. don't later when we need money instead we owe it here and there. Everything is an important element of balance between saving and lifestyle because the two are closely related where when we really need it and it's important it's okay to use our money, we have to get used to not buying things that are not too important.

Basically Everything Going back to our own mindset, if you can save money, take care of your physical and mental health and be able to manage stress that's good. there's nothing wrong with saving, even if it's as small as it is, it's sure to be useful for ourselves, even though our monthly income is small. Live a lifestyle according to your ability, keep saving even if it's small it will be useful for you, learn to be concerned about yourself. It's just as smart as it is to manage finances, because in life it's certain that everything won't always go smoothly, if you save money there must be an emergency fund that we can't predict and we can use it if we need it suddenly.

Your point, that saving provides financial stability and peace of mind, is well-established. Yet, it's critical to realize that our financial realm has transformed; saving alone might not suffice.

Contemporary financial wisdom involves nurturing savings through wise investments and efficient debt management. While savings act as a cushion, investments amplify wealth for sustained financial security. Therefore, financial enlightenment should encompass wealth management, not merely saving.

The interrelation you draw between financial stability and health is indeed compelling. Increasingly, it's understood that fiscal wellbeing significantly influences overall health. Consequently, financial strategies considering health should be central to our financial literacy discussions.

[Bushdark]

Saving is a very important aspect that we need to prepare for a better future. It is very important for us to always save what we have now so that if we have some financial difficulties. We have to save when we have and when we still don't have much to spend, this is important for the time when there will be no fund for us to spend. Saving can help us a lit even when we don't have people around us that can give us money to foot our bills. Money is a very essential that is why we need to save and long as we are earning for a better future.

[dunfida]

Saving is a very important aspect that we need to prepare for a better future. It is very important for us to always save what we have now so that if we have some financial difficulties. We have to save when we have and when we still don't have much to spend, this is important for the time when there will be no fund for us to spend. Saving can help us a lit even when we don't have people around us that can give us money to foot our bills. Money is a very essential that is why we need to save and long as we are earning for a better future.

Financial difficulties in life is something that inevitable on which there's no way that we could be able to avoid it out unless if you do have tons of money like you do get from your inheritance or would really be getting from lots of income sources on which there's no need for you to mind off about having savings but we know that even rich people would be mainly thinking about having savings and wont really be that just confident
on having none because they've been aware on how important saving is which its a must thing to mind on in the first place.

Save money even if you are rich, how much more if you are having that average financial situation or ordinary worker or earner then it would really be something that it is really recommended.
You wouldn't know on when you would really be needing it.

[Uruhara]

If I were him, I would try to look for other sources of income, such as online freelancing or part-time jobs, while applying for new positions in my field. I would also seek support from my family, friends and community organizations that can offer financial or emotional assistance.

So true. The steps you suggest are indeed very suitable for OP's friends to do. But it seems that when the economic crisis occurs, especially when the recession haunts several countries, finding a job is not easy. And the point is for those of us who are still working and still have a good income. then we have to put it to good use by saving and investing.

[Betwrong]

I'm sorry to hear that. it's very sad to see things like this happen.
That's why I always save money just incase something bad will happen to me or to my family, it's always good to be prepared for anything.
I'm sure you and your friend will get out of this situation so good luck to both of you!
And about savings, I live by the 30-70 rule, I spend 30% and save 70% every time I can.

OMG! What kind of a rule is that? Are you living with your parents with them covering all the expenses? If that is true then you are doing the right thing saving 70% of your income, and those words in the OP are for you, "Try to save money while you still can". Indeed, you can still do it in your situation. But for most people, people living on their own, saving even as little as 10% of their income can be a problem, let alone 70% like in your case. Please share more about your case. You don't earn such a big amount that you can live for 30% out of it, do you?

[Freddie Boyer]

As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

In My mind, Supporting your friend during this difficult time is very important, both emotionally and by providing information and assistance. It's important to save money while you still can, especially given the rising cost of living and the potential for unexpected challenges in life. I understand that your friend recently lost his job, and it can be tough.

In such situations, Maybe it is important to prioritize immediate financial needs, reduce unnecessary expenses, and seek other alternative sources of income if deemed necessary.

[DeathAngel]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

I would advise your friend to try anything to find work, even do undesirable jobs if he has to. There is no shame in working, no matter what it’s doing. He could get two jobs if he has to. I would advise him to invest in bitcoin & hold long term but it sounds like he doesn’t have much money & it’s just about staying alive, not investing. Regardless I hope he is doing better now, it’s been a few months since the OP.

[SmartCharpa]

Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?

If he truly worked for a company that paid monthly, he would have some savings on hand, but I have no idea what kind of situation he is in; perhaps he didn't save whenever he received his salaries on a monthly basis, instead using them to deal with financial issues. If he does have some savings, though, you can introduce him to bitcoin so that he can start a small investment; if that is too big for him to handle, he can start a small business with the money he has saved, and if he has no savings, he might find a job in your country where he could get paid every day. In my opinion, this is preferable to starting over from scratch.