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

[Betwrong]

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

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

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

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

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[barisbilgili]

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

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

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

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

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

[Uruhara]

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

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

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

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

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

[Inwestour]

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

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

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

[Dalib]

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

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

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

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

[GigaBit]

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

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

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

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

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

[Unbunplease]

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

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

[aksplace]

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

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

[carlfebz2]

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

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

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

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

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

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

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

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

[summonerrk]

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

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

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

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

[uche6215]

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

[Alisha-k]

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

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

[sulendra12]

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

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

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

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

[n0ne]

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

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

[Andrija Branislav]

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

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

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

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

[Betwrong]

~

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

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

[Wildwest]

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

[jossiel]

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

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

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

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

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

[DevilSlayer]

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

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

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

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

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

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

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

[Kelward]

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

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