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

[Betwrong]

The definition of saving is setting aside some money from income for future financial needs, including for emergency needs, converting to assets to focus on annual profits, financial independence, and avoiding debt when we are in a financial crisis due to unexpected events such as the pandemic last year.



The picture above is called the "50/30/20 Strategy", the most ideal financial management strategy that anyone can apply regularly and disciplined from each monthly income, the explanation for the term 50 is to use 50% of monthly income for the utilization of funds for routine needs and expenses, the second term is 30% of income for the allocation of funds to realize your desires (not routine needs) because your hobby is buying collectibles, funds for holidays and etc. The last of the 20 terms is to set aside 20% of your monthly income for future beneficial savings.
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I'm sure, saving 20% of your income is a good strategy when you have all your needs met with the remaining 80%. I mean shopping, dining out, and even hobbies are presented in the picture in the Wants section. What else do you need? Of course it's better to be saving money for the future than spending it on the things you don't need. But we should not forget that many people in the world don't have money for dining out and hobbies, let alone saving beyond those expenses.

[Uruhara]

Supporting your friend during this difficult time is very important, both emotionally and by providing information and assistance. It's important to save money while you still can, especially given the rising cost of living and the potential for unexpected challenges in life. I understand that your friend recently lost his job, and it can be tough. In such situations, it is important to prioritize immediate financial needs, reduce unnecessary expenses, and seek other alternative sources of income if deemed necessary.

That is correct - if it is not easy to earn more money then the best approach of life is to reduce your expenses as much as you could and try to save as much as you could.
But in my opinion its not a good option to help others especially those who are habitual in borrowing money.

Cutting all types of expenses that are not too important is the first step that can be taken to be able to reduce expenses and save the remaining money that. While looking for a job that can generate and provide income. And we can also help our friends by looking for information or something about job vacancies or something like that. And we must not leave our friends who are in a difficult position. We must support him. even though not with the material but we can help with other things. because one day we will also need a friend by our side. because basically humans are social creatures and cannot live alone.

[Semar Mesem]

Saving money is something that must be done by anyone who wants to change the future for the better, if we don't save then we can be sure the future will be difficult and disappointing, and the best thing right now is saving while investing and we can get this in cryptocurrencies.

[Japinat]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

Yes, I definitely agree. Saving is really important because we do not know what will happen down the road and we might need something for emergency purposes but don't forget that saving and investing is two different words with two different meaning because you probably don't want to touch your investments that is supposed to give you profits for future purposes like emergencies and sudden bills that you did not expected.

[Mate2237]

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 is always unpredictable so if there is an opportunity to save money for the future my brother, you have to do because anything can happen at anytime. As for your friend case, the only help you can render for him so to find work for him because if you want to help him with financial assistance, my brother you can not do because he will be asking you whenever he is down. Even the work will pay him less than the former work it will be manageable than giving him money always.

[Fredomago]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

Yes, I definitely agree. Saving is really important because we do not know what will happen down the road and we might need something for emergency purposes but don't forget that saving and investing is two different words with two different meaning because you probably don't want to touch your investments that is supposed to give you profits for future purposes like emergencies and sudden bills that you did not expected.

Correct you need to understand that there's differences between saving and investing, if you plan to invest and you don't want to use it for emergency make sure that you are using spare for that particular investment, you need to have seperate savings for emergency purpose to make sure that you will not use your invested money, there's chance that if you force to use invested money the value is at loss and you don't have choice but to withdraw so it's always better to have extra for this kind of purposes.

[Cryptock]

Correct you need to understand that there's differences between saving and investing, if you plan to invest and you don't want to use it for emergency make sure that you are using spare for that particular investment, you need to have seperate savings for emergency purpose to make sure that you will not use your invested money, there's chance that if you force to use invested money the value is at loss and you don't have choice but to withdraw so it's always better to have extra for this kind of purposes.

and then there is difference between luck and bad luck and when world says "give up'' hope wishpers try it one more time

[Swordsoffreedom]

Although I can't save money. I can't save money. It happens that my expenses are more than my income. But I think every person should save money. Because what do you do when you are old and can't do anything? Then you have to ask someone. It is very important to save money for treatment. Nowadays, people have the most difficult diseases, which require a lot of money. Therefore, it is very important to save money.

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

Yes, I definitely agree. Saving is really important because we do not know what will happen down the road and we might need something for emergency purposes but don't forget that saving and investing is two different words with two different meaning because you probably don't want to touch your investments that is supposed to give you profits for future purposes like emergencies and sudden bills that you did not expected.

Correct you need to understand that there's differences between saving and investing, if you plan to invest and you don't want to use it for emergency make sure that you are using spare for that particular investment, you need to have seperate savings for emergency purpose to make sure that you will not use your invested money, there's chance that if you force to use invested money the value is at loss and you don't have choice but to withdraw so it's always better to have extra for this kind of purposes.

There are still a lot of people who confuse saving and investing. Many people say that instead of saving in fiat, save in bitcoin, and that is a misconception. Bitcoin is very volatile, and if all our savings were put in bitcoin when bitcoin was worth $69k. And we need those savings for emergencies, and the bitcoin price has halved, meaning we'd have lost half of our savings if we used it immediately. Are we brave enough to use that bitcoin?
Saving is more important than investing, and when it comes to saving, we should think of fiat or a savings account in a bank, not a highly volatile asset like bitcoin.

[Sexylizzy2813]

If it's important, then save from now even though your income is small. Because that's not the only reason for anyone not to save money in their life, especially if it is to maintain their health and to balance their life in old age if someone doesn't get a pension from the government. Apart from saving money from now on, everyone can also invest in real estate and also in currencies like Bitcoin because these two things can also help someone manage their old age better.

Not everybody knows how to save or even drag their hard earned money to invest in either Bitcoin or real estate like you said. Not that they don't want to but they need a push, like someone to push them to make that big move (although we still have people who does things without being pushed to do it).
I know of someone who used the little money he gets from his hustle to build his own house, not that the money is even enough but he did it 50/50, invest in half of it and use the remaining to take care of himself and his family, now he can smile and enjoy his sweat. Even the old can save talk less of we the younger ones, we have brighter ideas on what to invest on.

[Rupok]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

[crunck]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

Savings are necessary but won't be enough to get you through a period of unemployment because if you don't get a job soon, those savings will quickly be used up. Besides saving, I think any man should have an investment because investing in it can help us increase the amount over time, not standing still like saving. That will help a lot if one day we are unemployed, but investment is risky so be careful in choosing assets to invest.

[Fredomago]

There are still a lot of people who confuse saving and investing. Many people say that instead of saving in fiat, save in bitcoin, and that is a misconception. Bitcoin is very volatile, and if all our savings were put in bitcoin when bitcoin was worth $69k. And we need those savings for emergencies, and the bitcoin price has halved, meaning we'd have lost half of our savings if we used it immediately. Are we brave enough to use that bitcoin?
Saving is more important than investing, and when it comes to saving, we should think of fiat or a savings account in a bank, not a highly volatile asset like bitcoin.

Exactly, if you put more with your savings and emergency happened the money can freely use without any regrets, the example you provided is reality that we can experienced when we invest with crypto, the volatility can't give us any assurance that we can earn money, it's a matter of how you established your trust with particular asset that you bought and hold.

And same with using spare aside from your save money in your fiat account, spare can be store long time without any hesitations, you can keep it till it reach the target that you want to sell your assets.

[Uruhara]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

That's why it's so important for us to have savings and investments while we still have income. Take advantage of every opportunity that exists so that we don't regret it in the future.

Saving is sometimes quite difficult to get used to. Sometimes we become too relaxed and forget not to save money when our economy is doing well. Even though we have to get used to saving behavior even when our economy is stable. so that we always have a backup plan and a reserve fund resulting from the savings and investments that we have made of every money we set aside from the habit of saving

[m2017]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

Savings are necessary but won't be enough to get you through a period of unemployment because if you don't get a job soon, those savings will quickly be used up. Besides saving, I think any man should have an investment because investing in it can help us increase the amount over time, not standing still like saving. That will help a lot if one day we are unemployed, but investment is risky so be careful in choosing assets to invest.

No matter how significant the savings are, sooner or later it will end. My attitude to monetary savings is positive, but in my opinion, this should not be 100% relied upon, because inflation is merciless to such forms of savings. Otherwise, things are with investment. There is an opportunity to freeze inflation (for example, investing in gold), as well as an opportunity to overtake inflation (stock market or crypto market). But the side effect of all this will be risks. Therefore, I would single out another category - this is an investment in yourself, your knowledge and skills. Left without a job, new skills can allow you to survive a difficult period due to the opportunity to earn money in other directions. It may turn out that the return would even be higher if you were just trying to save this money (spent on obtaining new skills and abilities). So, investing in your own potential would be the smart way out.

[ajiz138]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

That's why it's so important for us to have savings and investments while we still have income. Take advantage of every opportunity that exists so that we don't regret it in the future.

Saving is sometimes quite difficult to get used to. Sometimes we become too relaxed and forget not to save money when our economy is doing well. Even though we have to get used to saving behavior even when our economy is stable. so that we always have a backup plan and a reserve fund resulting from the savings and investments that we have made of every money we set aside from the habit of saving

Only lazy people ignore this opportunity, while people who have dreams will definitely think about the future with their savings and investments as long as they can still earn, especially at a very young age, so that's important and you have to get used to saving for long term needs or when ongoing crisis.

Actually saving is a trivial thing but it's hard for most people to do so they often ignore it, it's no wonder their souls maybe only for a moment when getting a salary from work is only spent for a month with unnecessary needs while saving is to create a reserve fund and it will be enjoyed when we can't work anymore maybe for old age later.

[Gulttam2a2]

Yes of course I still save money.That's because we can't tell or predict what will happen to us in the future. Many earn money by doing business, job and more. They mostly spend for family and they save some for future. They save so that they can spend the money on their work. Many families have younger members who are busy at times. But many times it can't be timely because there are many people who don't save due to which they can't meet the requirement of small member. All the people in the world are not same. So I think saving is definitely for better future.

[eightdots]

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 there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

[Theones]

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 there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.

We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.

It is a good idea to save as much money as you could. But most of the time people do that when they go through some trouble

[Ebede]

Yes is good to save money because it helps when you are in need, it is very important for people to learn the habit of saving because saving is very important you don't have to spend everything you earn save more than you spend, no person prays for anything bad to happen but a life without savings is risky and dangerous.

[Uruhara]

Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life.  Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.

That's why it's so important for us to have savings and investments while we still have income. Take advantage of every opportunity that exists so that we don't regret it in the future.

Saving is sometimes quite difficult to get used to. Sometimes we become too relaxed and forget not to save money when our economy is doing well. Even though we have to get used to saving behavior even when our economy is stable. so that we always have a backup plan and a reserve fund resulting from the savings and investments that we have made of every money we set aside from the habit of saving

Only lazy people ignore this opportunity, while people who have dreams will definitely think about the future with their savings and investments as long as they can still earn, especially at a very young age, so that's important and you have to get used to saving for long term needs or when ongoing crisis.

Actually saving is a trivial thing but it's hard for most people to do so they often ignore it, it's no wonder their souls maybe only for a moment when getting a salary from work is only spent for a month with unnecessary needs while saving is to create a reserve fund and it will be enjoyed when we can't work anymore maybe for old age later.

Yeah right. And in essence, we must have a goal or ideals that we want to achieve in order to foster motivation and awareness to try to achieve it more by saving and investing. It's just that saving is a process that requires patience and mature emotional management. because sometimes there are people who can be consistent in saving at the beginning but then start to lose their consistency and start to lose their habit of saving. then it is also important to maintain motivation within us so that we can remain consistent in managing finances including saving and investing in them.