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

[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.

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[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.