The savings problem

[Casalania]

I'm referring to the stage where individuals are already financially independent, meaning they are already working. I agree that if they are still studying, they can still rely on their parents until they finish their studies. However, if it is about having a job or planning to start a family, they should strive to build their own life independently without the financial support of their parents.

By having a job, it is not certain that someone can achieve their financial freedom, because if someone has an income and they cannot manage it well then it is very unlikely that they can have financial freedom and for those who are still in school and have parents who can afford to send them to school, of course they haven't thought about how to find a job that gives them an income because they still have parents who give them money for them to go to school, but for those who want to start a family of course they have to look for a job and manage their income well so they can save for the family's future. so they can meet their family's needs.

Why not? If some people can achieve financial independence, then everyone can. From what you said, the reason some people cannot achieve financial independence is because they struggle with managing their finances. The main problem has been identified, and the solution is for them to take action and learn how to manage their finances effectively. If the only reason why some people continue to live with their parents is due to poor financial management, then the responsibility for correcting this problem lies with them.

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[stadus]

Saving is always hard for most of us when we can always make it possible to happen. As long as we have our source of living, regardless of its amount, we can do initial saving even with a small amount. However, while most of us are greedy, as much as possible we want to save instant big amount of funds which I think will be hard to realized most especially if we are the sole breadwinners in the family.

As much as investing is important, saving as well should also be in top priority. Since it’s certain that it’s hard to make a successful investment if you are rushing to make instant profits due to lack of daily budget funds for daily needs.

[Ultegra134]

Why not? If some people can achieve financial independence, then everyone can. From what you said, the reason some people cannot achieve financial independence is because they struggle with managing their finances. The main problem has been identified, and the solution is for them to take action and learn how to manage their finances effectively. If the only reason why some people continue to live with their parents is due to poor financial management, then the responsibility for correcting this problem lies with them.

Bad financial management is certainly one reason people, and especially newer generations, are unable to save. A large number of people near my age in my circle are unable to save a single penny out of their paycheck, which makes me wonder what they're doing with their money. However, what the OP described is actually true: the cost of living has immensely increased, especially after Covid-19, the Ukrainian war, and now with the Middle East crisis that's disrupting the logistics chain once again. Salaries have hardly increased to compensate for the excessive costs of goods and services.

Newer generations need to be extremely innovative in order to be successful. A few decades ago, the middle class could purchase a house with an average job, while nowadays, a large number of people are living from paycheck to paycheck.

[Asuspawer09]

The important thing here is financial education I guess, most of the banks these days are just designed for you to spend on things that you dont really need, banks are surely going to send you a lot of credit cards for sure if they know that you have money on your account, making you spend on expensive things that you dont really needed, they are opening this opportunity for you to use allowing you to buy cars, smartphone, etc. easily.

I mean there is inflation as well affecting how we manage our salary but the main thing is just the spending, we just really want to spend if we have money not having that financial knowledge and discipline, It was actually really simple just dont spend on anything that you can't really afford to buy if you can't afford a car just dont buy one yet until you can, Is it a high percentage of your salary already then dont buy one it, do you have other sources of income something like that. If you're not going to buy something that you can't afford it is actually really easy for you to have a good saving, in my experience, we just really desire something easily since we just have the power to do it, with only one swipe we can easily buy something like an iPhone without even realizing how it is going to affect us on the long term.

I dont really recommend using a loan or using a credit card, especially on things that you really need, credit cards aren't really that bad if you just use them wisely, I could easily recommend saving up to 50% of your salary depending on how many percentages you can but the higher the better for sure, make sure as well that you already have a financial foundation already something like insurance, emergency funds, savings, before even investing on something like Bitcoin or stocks.

[Hispo]

I indeed believe some changes are necessary for people to have access to the basic needs they are required to live a meaningful and happy life. I am one of the people who would say previous generations took steps which benefited them in detriment of the future generations, we are the future generations who got screwed over by some reckless economical choices. Though, it is not all to blame the government of the most powerful countries in the world, there are companies which have much in stake for things to continue to be the way they are. Let us take the real state market, for example, it would be relatively easy for companies or the government to invest in new infrastructure and homes for the generations to come, but that building of new houses will drive the price of current properties down, hurting the interests of landlords and investors in both the European Union and the United States.

Education is also along the same lines, banks want students to get as deep in debt as possible for them to capitalize on the dreams of the youth of becoming professional and helpful adults to serve society. It is all about money and greed. And when it is about it, it is pretty difficult to change the system of a whole society.

[poodle63]

Saving is always hard for most of us when we can always make it possible to happen. As long as we have our source of living, regardless of its amount, we can do initial saving even with a small amount. However, while most of us are greedy, as much as possible we want to save instant big amount of funds which I think will be hard to realized most especially if we are the sole breadwinners in the family.

As much as investing is important, saving as well should also be in top priority. Since it’s certain that it’s hard to make a successful investment if you are rushing to make instant profits due to lack of daily budget funds for daily needs.

investment doesn't necessarily mean we should get massive profit, even countering inflation is already suffice for most of people that is like bank deposits and buying gold for investment thats already suffice because if we don't do that our money gonna get slowly but sure reduced by inflation, as much as I love the idea of saving at current time just doing saving from our money will not enough, our purchasing power depleted by 5% and above every year, our money that we are supposed to be saving are instead lost, just move it to bank deposit or anything like that even stablecoin staking if someone is concerned about the inflation will already good enough.
even better if we can invest, increase that risk a little bit, and try to get much more profit that conventionally give our money to be managed by bank through deposits, that way we can even make another source of income that gonna boost our wealth in the long run.

[franky1]

even stablecoin staking if someone is concerned about the inflation will already good enough.

stablecoins should offer no profit potential compared to the fiat they are pegged to. because the point of stable coins is to remain pegged to a fiat amount. meaning when fiat inflates, so does the stablecoin
stable coins are not suppose to hedge fiat, they are suppose to twin fiat

[NewRanger]

By having a job, it is not certain that someone can achieve their financial freedom, because if someone has an income and they cannot manage it well then it is very unlikely that they can have financial freedom and for those who are still in school and have parents who can afford to send them to school, of course they haven't thought about how to find a job that gives them an income because they still have parents who give them money for them to go to school, but for those who want to start a family of course they have to look for a job and manage their income well so they can save for the family's future. so they can meet their family's needs.

I agree and it is wise for us as heads of families to make preparations for the continuity of life and education of our children in the future. Well, when talking about investment, investing should be thorough when we analyze the project, never miss a single point, meaning it is hope, but we must know that this also contains high risks, the price can rise 10x but it can run out in a few minutes after. The world of crypto trading is very fluctuating.

[Yatsan]

Saving is always hard for most of us when we can always make it possible to happen. As long as we have our source of living, regardless of its amount, we can do initial saving even with a small amount. However, while most of us are greedy, as much as possible we want to save instant big amount of funds which I think will be hard to realized most especially if we are the sole breadwinners in the family.

As much as investing is important, saving as well should also be in top priority. Since it’s certain that it’s hard to make a successful investment if you are rushing to make instant profits due to lack of daily budget funds for daily needs.

The idea of big or small amount destroys the idea of saving. Indeed it should be any amount and what's important is to be committed of saving. Saving is applicable to anyone who has an income no matter how big or small it is. If you are not earning that much you can at least lessen some of your expenses if possible. On my end, I tend to pack a lunch from my house whenever I'm going to work than to buy it on fast food restaurants. If distance isn't that far, I am sometimes choosing the option of just walking than having a fare. It won't be that much but if things will be "gathered together", it will be reasonable and that is simply the logic behind saving. Some would say engaging to investment would be better but I guess it depends on the individual to decide which method will be more efficient.

By having a job, it is not certain that someone can achieve their financial freedom, because if someone has an income and they cannot manage it well then it is very unlikely that they can have financial freedom and for those who are still in school and have parents who can afford to send them to school, of course they haven't thought about how to find a job that gives them an income because they still have parents who give them money for them to go to school, but for those who want to start a family of course they have to look for a job and manage their income well so they can save for the family's future. so they can meet their family's needs.

I agree and it is wise for us as heads of families to make preparations for the continuity of life and education of our children in the future. Well, when talking about investment, investing should be thorough when we analyze the project, never miss a single point, meaning it is hope, but we must know that this also contains high risks, the price can rise 10x but it can run out in a few minutes after. The world of crypto trading is very fluctuating.

Investments aren't simple. You have to think of it as much as possible. Every investment has its risk and your job as an investor is to manage the risk involved in order to make it work. Trading on the other hand is not something I can consider as an investment given how big the risk is, but it really is. However, it is not an investment for everyone who just wants to do so.

[naikturun]

Purchasing power has only been getting worse from generation to generation, and thus being able to make any savings is already a distant dream for most. Younger people just keep working more for less, to s point now where mostworking people can't put even a single dollar aside.

I see this as relative because part of the narrative comes from the propaganda of the (mainstream) left-wing media that sells people the victim mentality.

It is true that the purchasing power for some basic goods, such as buying a house, has been reduced for the majority of the population. But today's population generally enjoys many more goods and services than 40 years ago. Starting with the cell phone we all carry in our pockets, continuing with cheap clothes and ending with cheap travel. Forty years ago travel was a luxury that only the rich could afford and today working people have gone to the other side of the globe on a trip.

Besides that today there are more opportunities to earn money, even in the form of extra income, comfortably from home, and you have an example here in the forum with the signature campaigns.

So it is relative. For me only one part of the story is true.

If you compare it with 40 years ago, what rich people do now cannot be done by people at lower levels, for example eating expensive food, when rich people eat lunch maybe more than 50$ for one meal, while in other places people earn 50$. $ for one month of work?
I mean times may have advanced and changed but that level still exists.

[tyz]

Purchasing power has only been getting worse from generation to generation, and thus being able to make any savings is already a distant dream for most. Younger people just keep working more for less, to s point now where mostworking people can't put even a single dollar aside.

I see this as relative because part of the narrative comes from the propaganda of the (mainstream) left-wing media that sells people the victim mentality.

It is true that the purchasing power for some basic goods, such as buying a house, has been reduced for the majority of the population. But today's population generally enjoys many more goods and services than 40 years ago. Starting with the cell phone we all carry in our pockets, continuing with cheap clothes and ending with cheap travel. Forty years ago travel was a luxury that only the rich could afford and today working people have gone to the other side of the globe on a trip.

Besides that today there are more opportunities to earn money, even in the form of extra income, comfortably from home, and you have an example here in the forum with the signature campaigns.

So it is relative. For me only one part of the story is true.

If you compare it with 40 years ago, what rich people do now cannot be done by people at lower levels, for example eating expensive food, when rich people eat lunch maybe more than 50$ for one meal, while in other places people earn 50$. $ for one month of work?
I mean times may have advanced and changed but that level still exists.

Agree, I would also say that little has changed at the core. On the contrary: today it has become much easier for many people who have less and want to move upwards to invest their money worldwide. This may not be the view of many people in industrialized countries, but if you look at it from the perspective from peoples of developing countries, people have much greater opportunities to build up wealth than they did 30-40 years ago.

[mihaybus]

Agree, I would also say that little has changed at the core. On the contrary: today it has become much easier for many people who have less and want to move upwards to invest their money worldwide. This may not be the view of many people in industrialized countries, but if you look at it from the perspective from peoples of developing countries, people have much greater opportunities to build up wealth than they did 30-40 years ago.

Do you really think that a person from Sudan or Cuba who earns 40 dollars a month should save another 5-10 dollars?

So he should save 2 cups of coffee from Starbucks and then he will live better?

[topbitcoin]

~

That's right, the future is determined by ourselves today, if we always spend money on things that are not too important or even useless then of course we can experience unfavorable or even bad situations. Many young people today have so much prestige that many of them only think about the style that is currently trending and in my opinion it is only temporary. Few people or young people have good thoughts, thinking about the future. People like this, in my opinion, tend not to have a luxurious style, because they think about the future they will face.

"Difficult economy, elite style" That's what most easy kids do nowadays, there are even some of them who don't really care what their future will be like. because the most important thing for him is how he can look cool at all times, so that he can attract the opposite sex. And quite a few of them are already adults and should have entered the world of work, but instead they have fun and depend on their parents for their needs. But somehow I also don't quite understand people who behave like that.

Saving money is not only to determine the future, but it also helps us in dealing with a problem or disaster that occurs suddenly,  and by having savings it is the same as having an emergency fund that can be used at any time if it is needed because of a very important situation.

In this case, we must have a priority scale, and saving is not a solution for a better future, because the function of saving is not to become rich, but to answer urgent problems and must be accelerated. While you are young, continue to hone your abilities and skills, and make as much money as possible, and when you get older, let that money work for you through the investments you make. "Money can't solve everything and money can't solve all problems, but not having money is a problem."

[franky1]

In this case, we must have a priority scale, and saving is not a solution for a better future, because the function of saving is not to become rich, but to answer urgent problems and must be accelerated. While you are young, continue to hone your abilities and skills, and make as much money as possible, and when you get older, let that money work for you through the investments you make. "Money can't solve everything and money can't solve all problems, but not having money is a problem."

saving is not for wealth accumulation prospects
saving is for short-mid term evasion of crisis

your suppose to save a rainy day fund to cover you for surprises.. and then once having enough easy access savings to not need to dip into debt or sellout investments at a loss should unforeseen/unplanned/un-budgeted incidents happen. then stop saving. and divert your excess income to investments

having a rainy day fund helps you not panic over incidents and not fear investing when investments are bear.
remember when investing never sell at a loss. and to avoid losses, its best to have savings buffer to not need to sell investments when income/real life daily incidents need money

[Promocodeudo]

Saving is like holdling, the only difference is that, when you hodl you will be expecting profit when you hold in a long term interval while saving is keep your money in particular place without expecting any profit, but the common factor about saving and hodling is that you should have high or little earnings before you can either hodl or save, lets be factual saving can be demanding because several events can occur when you are saving and this events can be pressing needs, if you are not determined you might end up giving up on your savings, but this should discourage anyone, save what you can afford don't make it look bulky.

[franky1]

Saving is like holdling, the only difference is that, when you hodl you will be expecting profit when you hold in a long term interval while saving is keep your money in particular place without expecting any profit, but the common factor about saving and hodling is that you should have high or little earnings before you can either hodl or save, lets be factual saving can be demanding because several events can occur when you are saving and this events can be pressing needs, if you are not determined you might end up giving up on your savings, but this should discourage anyone, save what you can afford don't make it look bulky.

savings is not a hold for profit
savings is a hold to avoid further debt
savings is meant to cover the short term events planned/unplanned that you dont want harming your long term investment amounts

yes several events can occur which make savings struggle.. but thats the point. by being able to save, means when events happen its the savings that take the hit so that other things dont get hit..
you are suppose to deplete your emergency savings funds in an emergency. and then re fill that budget when things calm down. its not suppose to just sit untouched forever. your suppose to use it as the buffer to protect your other interests and investments from being hit

[Sanitough]

The reality is, people do not actually rely from saving anymore, but by taking a loan as they get instant approval most especially if they present good and stable sources of income. With that, the essence of saving most especially for the younger ones have started to vanish until out of 10 workers, only 1 is able to do so.

That’s how fast and influential the changes are. If there are no instant loan offers, they will be encouraged to work hard and save more. But this is the reality now, people are dependent already on what is instant than taking a long process like saving for their future.

You say that the value of savings is disappearing among the population, especially among the youth, and I think that the economy is not helping this situation, but if there's a will, there's a way. People need to get a financial education and read books that help them in their jobs. Because most of these problems arise because people don't distribute their income properly and leave expensive items for the future.

I guess no matter how people become educated or not, but if their intentions are not that strong to save for their future and for emergency funds, they will definitely won’t find some ways to save. Getting low salary income is not actually an excuse, because if you really have the biggest desire to save, you will resort into looking for side hustles that will pay you extra income, that way you will have no excuse from not saving.

[junder]

~

That's right, the future is determined by ourselves today, if we always spend money on things that are not too important or even useless then of course we can experience unfavorable or even bad situations. Many young people today have so much prestige that many of them only think about the style that is currently trending and in my opinion it is only temporary. Few people or young people have good thoughts, thinking about the future. People like this, in my opinion, tend not to have a luxurious style, because they think about the future they will face.

"Difficult economy, elite style" That's what most easy kids do nowadays, there are even some of them who don't really care what their future will be like. because the most important thing for him is how he can look cool at all times, so that he can attract the opposite sex. And quite a few of them are already adults and should have entered the world of work, but instead they have fun and depend on their parents for their needs. But somehow I also don't quite understand people who behave like that.

hahaha, that's right, friend, "elite style, difficult economy" is an appropriate slogan for many young people today who always prioritize style over progress in life. There's nothing wrong with being stylish, but forcing it is wrong, because we should style according to our own abilities. I sometimes feel irritated with today's young people who are still in school but they insist on having a luxurious style every day. I think there are two possibilities for them to be able to style themselves luxuriously, because their family is rich or they demand that their parents be able to do it. fulfill their desires even though the economy is unstable, including their financial situation.

In my opinion, with them like that, maybe they have the idea that they only live once, so they have to enjoy it with great pleasure, because I once met a young person who had a lot of style saying exactly like that, "You only live once, bro, so you have to enjoy it with pleasure." having fun" .
In my opinion, this kind of thinking needs to be addressed, because life does not always have to be spent just having fun, of course there is a future that must be prepared from a young age.

Saving money is not only to determine the future, but it also helps us in dealing with a problem or disaster that occurs suddenly,  and by having savings it is the same as having an emergency fund that can be used at any time if it is needed because of a very important situation.

In this case, we must have a priority scale, and saving is not a solution for a better future, because the function of saving is not to become rich, but to answer urgent problems and must be accelerated. While you are young, continue to hone your abilities and skills, and make as much money as possible, and when you get older, let that money work for you through the investments you make. "Money can't solve everything and money can't solve all problems, but not having money is a problem."

Of course everyone wants financial freedom, therefore we have to think about the future, at a young age we have to make the best use of it, working hard is one of them, having a big income is of course what everyone wants. also with that we can fulfill our own basic needs and desires, style ourselves according to the income we generate, and there is no harm in having fun only once in a while, because that is also a need so it is included as appreciating ourselves, the same as pampering ourselves Alone.

I agree with you, while we are still young we have to hone the skills we have so that we can produce something good because it is also for our own good in the future so that we don't continue to depend on our parents, because I myself am embarrassed if I continue to depend on my parents, in fact I want to support my parents well. It's true what you said, "Money can't solve everything and money can't solve all problems, but not having money is a problem." hahaha this is a fact of life.

[erep]

"Difficult economy, elite style" That's what most easy kids do nowadays, there are even some of them who don't really care what their future will be like. because the most important thing for him is how he can look cool at all times, so that he can attract the opposite sex. And quite a few of them are already adults and should have entered the world of work, but instead they have fun and depend on their parents for their needs. But somehow I also don't quite understand people who behave like that.

The lifestyle of today's teenagers is very different and they only follow fashion styles rather than studying to find skills for their future profession, they only have hobbies playing and shopping to attract the opposite sex, but only a few percent of teenagers focus on looking for skills and they will enter high school vocational to increase knowledge according to their respective fields of expertise. I think everyone realizes the importance of saving every month rather than spending their income/paycheck just for fun and entertainment, because if you don't have savings then you won't have savings for emergency funds that you need at any time without us knowing.

[Casalania]

Why not? If some people can achieve financial independence, then everyone can. From what you said, the reason some people cannot achieve financial independence is because they struggle with managing their finances. The main problem has been identified, and the solution is for them to take action and learn how to manage their finances effectively. If the only reason why some people continue to live with their parents is due to poor financial management, then the responsibility for correcting this problem lies with them.

Bad financial management is certainly one reason people, and especially newer generations, are unable to save. A large number of people near my age in my circle are unable to save a single penny out of their paycheck, which makes me wonder what they're doing with their money. However, what the OP described is actually true: the cost of living has immensely increased, especially after Covid-19, the Ukrainian war, and now with the Middle East crisis that's disrupting the logistics chain once again. Salaries have hardly increased to compensate for the excessive costs of goods and services.

Newer generations need to be extremely innovative in order to be successful. A few decades ago, the middle class could purchase a house with an average job, while nowadays, a large number of people are living from paycheck to paycheck.

The same as some of the people at my workplace. Every payday, I often see them going out to eat, out of town, and even purchasing expensive gadgets. What I can always hear them say is they deserve to be rewarded by purchasing the things they like as they work hard every day in their life.