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

[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.

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[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