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

[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.