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

[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.

[1714138275]

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[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.