Save money today so money would save you tomorrow.

[ThePromise]

Where do you hide it? In the bank, for example!
Do not save your money, but rather secure it by investing it in projects, no matter how small or large. The important thing is that investment doubles your money, but saving keeps it as it is.

As a matter of fact, it is not advisable to save a large amount in the bank unless the purpose of your depositing money in them is savings & investment type. The interest you get from the money you put in the bank is very low, so it's okay to save there if it's for an emergency fund or monthly expenses. It's even better if you can find an investment with a good return and can double up your initial money that you've invest, you can take a risk for that.

[1715172908]

1715172908

[mindrust]

That's the main idea of saving money. Spend less today so you can spend more tomorrow. That's why people make investments. Spending usually means buying stuff which don't generate any cash flow or capital increase and most of the time, they generate negative cash flow.

-You may go to a fancy restaurant, at the end of the day you only spent a hundred bucks for a good meal. The good news is, you only pay when you eat. That was just an expensive purchase. No cash flow.

-If you buy a fancy car on the other hand, you will be paying for its maintenance and it will cost a lot. It won't be a one time fee too. That's called a liability. It generates a negative cash flow.

-If you buy a real estate and rent it out on the other hand, you will collect payment every month. That's called an asset. It generates a positive cash flow.

Which one of these is the smartest purchase financially?

a- An expensive meal
b- A luxury car
c- A real estate
d- None of them
e- All of them

[m2017]

So recently looking at how people cry for money and personally looking at how I needed money I decided to start splitting the little allowance I get, saving one part and using the other, I won’t really say that it has made me a billionaire or that I no longer lack money but at least I have cash somewhere that I could call my own and fall back to in cause of emergency.

Has saving money helped you get rid of your lack of money? Do you only store in cash?

Of course, you should always have a reserve of cash for emergencies, but I don’t think that all your savings should be set aside in cash alone.
   

To cut the story short, I’m advising mostly the young people of our generation to save, avoid unnecessary spendings and save even if it’s so little, cause you might find yourself in a situation tomorrow and you wouldn’t want to call home or ask for help, cause you have a second choice, that means you are literally getting yourself out of a problem.

Thrift is necessary not only for young people, but for all people in general. Especially when the world economy is bursting at the seams and it is unknown what awaits in the near future.

So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.

For some, "things that doesn’t really matter" doesn't matter, but for others it is an integral part of everyday life. With the rise in living standards, the list of "things that doesn’t really matter" is only growing.

The money you save today will depreciate tomorrow and become cheaper. It is very not practical to save money for the future in the form of money. The value of money should be converted into something else: something more liquid in the short term, and something less liquid and profitable in the long term.

[franky1]

-If you buy a real estate and rent it out on the other hand, you will collect payment every month. That's called an asset. It generates a positive cash flow.

not every month
some tenants refuse to pay rent,
some tenants damage the property
some houses require ongoing costs that all combined are above the market rate of rents.
its not a guarantee of perfect profit, just take a look at all the buy-to-rent people now selling-to-dispose of assets due to market downturn and inflation of maintenance costs. interest rates, taxes, state requirements

As a matter of fact, it is not advisable to save a large amount in the bank unless the purpose of your depositing money in them is savings & investment type. The interest you get from the money you put in the bank is very low, so it's okay to save there if it's for an emergency fund or monthly expenses. It's even better if you can find an investment with a good return and can double up your initial money that you've invest, you can take a risk for that.

investments are not meant for the large amount, nor the long term. its small amounts for short term emergency

for instance. lets say you had saved a months incidentals.. then you would stop inputting your income excess into savings. and put the income excess into investments.
if you then had a medical emergency which later came to a huge bill.. instead of panic selling investment assets to pay the large medical bill. usually selling assets at a bad time, thus at a loss.. you would instead arrange a payment plan with the medical institution. by which the payments initially are affordable to use the rescue(savings) to cover 1+ payment. to buffer you and save you from the panic. to then organise peacefully and effectively how to dip into investments to pay down the bill over months.. rather then rash decisions in days of incident

The money you save today will depreciate tomorrow and become cheaper. It is very not practical to save money for the future in the form of money. The value of money should be converted into something else: something more liquid in the short term, and something less liquid and profitable in the long term.

yep savings for short term small needs. investment for long term future needs. dont worry about inflation in regards to savings. the small amount of say $1000 even at 5% inflation is only $50 spread over a year is only $4 a month.. thus not something that will break the bank compared to putting $500 excess initially in savings for a couple months and then $496 excess going into investments per month

[Woodie]

I think as of the 21st century, every investment or financial playbook out there encourages saving as a means to take care of you and your family when you can nolonger work because you grow older or retire early ..but the problem with this model is that it does not shield you from inflation, or generally loss of buying power of a currency.

And besides keeping money💰 in a bank is loss of opportunity to grow your bank account as its gaining little to no interest at all while banks themselves  make money off your deposits, which is why business minded people never let it sleep there but invest it in other ventures that can make so cash for you whether big or small profits they can make a huge difference.

[Bloodseekers]

As a matter of fact, it is not advisable to save a large amount in the bank unless the purpose of your depositing money in them is savings & investment type. The interest you get from the money you put in the bank is very low, so it's okay to save there if it's for an emergency fund or monthly expenses. It's even better if you can find an investment with a good return and can double up your initial money that you've invest, you can take a risk for that.

It's true, it's true that we shouldn't keep the money we have in the bank and if the purpose of saving is to invest, of course this will be better and this will really benefit us when the investment goes well. Yes, if we save the money we have in the bank, of course it won't. profitable for us because the interest given is very little and is not very profitable for us and the bank which receives more profits.

Investing will really benefit us for the future, but if we don't understand investment well and how to make a profit from that investment, it would be better for us to learn first so that we don't experience difficulties when entering into that investment.

[franky1]

I think as of the 21st century, every investment or financial playbook out there encourages saving as a means to take care of you and your family when you can nolonger work because you grow older or retire early ..but the problem with this model is that it does not shield you from inflation, or generally loss of buying power of a currency.

And besides keeping money💰 in a bank is loss of opportunity to grow your bank account as its gaining little to no interest at all while banks themselves  make money off your deposits, which is why business minded people never let it sleep there but invest it in other ventures that can make so cash for you whether big or small profits they can make a huge difference.

savings is not for the long term future, nor suppose to be for big amounts of years worth of lifestyle. its the short term rescue to avoid the initial panic of a change of circumstance. for small incidents saves you from even needing to touch your investments..

for larger cost incidents, savings give you just enough breathing room to then organise how to expend the investments via making good investment decisions without the initial panic/worry, immediacy. (if big enough incident)

..
the small amount meant for savings wont be big enough for inflation concern. because you can plan in the small 2-5% inflation of a small amount and spread it over the year(0.17%-0.42% a month) to not really dig deep into your funding amount for other things like investments

[Kelward]

The one phrase that I can use to qualify this topic is for use to live bellow our means or income, with this method it'll be easier to be able to save money, because if you plan your expenditure based on the income that you get, then it'll be very difficult to have savings. The economic hardship in my country today makes it very difficult for any average income earner to save money, because our currency is devaluing everyday while the prices of goods keeps skyrocketing everyday, to be able to save, the only option that is left for most of us is to drastically cut down on expenses, have a tight budget and be very disciplined to spend within that budget. The savings can be invested in a valuable asset like Bitcoin, which always apreciates in price if held on a long term.

[mindrust]

-If you buy a real estate and rent it out on the other hand, you will collect payment every month. That's called an asset. It generates a positive cash flow.

not every month
some tenants refuse to pay rent,
some tenants damage the property
some houses require ongoing costs that all combined are above the market rate of rents.
its not a guarantee of perfect profit, just take a look at all the buy-to-rent people now selling-to-dispose of assets due to market downturn and inflation of maintenance costs. interest rates, taxes, state requirements

We know that smart ass. Focus on the general idea.

A car > a liability (could be an asset if you own a car rental business)
A house > an asset (could be a liability if you don't rent it out)

A house can become a liability too if you don't take care of it or keep it empty. It is because maintaining a house is not free. However, if you take the right steps, it will be an asset. I know that some tenants are assholes but not all of them are. I know it because I know most homeowners are making money. If it were the other way, none of these home owners would want to keep their assets. They keep them because their assets keep them making money.

Owning real estate is not the only source of cash flow anyway. Dividend stocks are a nice way to generate cash income. Bonds are another option but the underlying asset of bonds is a cash equivalent so it is no good in an inflationary environment and we have been always in an inflationary environment since I don't know when.

[southerngentuk]

It's true that inflation can erode the value of your savings over time, while investing can offer opportunities for growth. Saving is like building a sturdy emergency fund, your financial safety net. It's crucial for unexpected expenses, job loss, or that leaky roof that suddenly demands attention. Without this safety net, even the best investments can be derailed by unforeseen circumstances. Investing, on the other hand, is like planting a money tree. It has the potential to grow your wealth over time, beating inflation and potentially securing your future. But remember, it's not a magic money machine. There's risk involved, and you might not always hit the jackpot. Investing definitely offers the potential for higher returns, but it also carries greater risks. While saving may not generate significant gains, it provides a secure safety net. Both strategies have their place in a balanced financial plan.

[umbara ardian]

Saving is your trusty shield, always there to block unexpected financial blows. But investing? That's your magic growth potion, helping your money multiply over time for bigger goals like early retirement, dream vacations, or your kid's future spaceship.

You don't have to go all in on investing right away. Start small, maybe by diverting a portion of your unspent income, while keeping your emergency fund stocked. As your investments grow, you can adjust the balance, like a financial ninja mastering the art of both offense and defense.

Remember, saving and investing are teammates, not rivals. One keeps you safe in the short term, the other helps you build wealth for the long haul. Think of it as building a fortress of financial security, with both a sturdy wall and a secret stash of gold.

[Lorence.xD]

Saving will always be advised to anyone not only with youth. Small or big amounts, to save should always be considered. It could be used for emergencies, financial circumstances, or even wants. However, it depends on how long would you be saving and the amount you will be allotting for that savings. Therefore, you cannot expect more than what you put into it, concluding that it will be limited.  For sure it would be convenient by the time you will need it. The only factors affecting how an individual saves is financial capacity to do so, lifestyle he/she is having, and dedication to do so. It is  good practice to start as long as you are young however, its consistency matters on your perspective and that changes as you age. You could be engaging with the "wants" on a certain age as well as the drive you will be having. Investment is also considered over saving because it is expected to do more.

[pusaka]

I think as of the 21st century, every investment or financial playbook out there encourages saving as a means to take care of you and your family when you can nolonger work because you grow older or retire early ..but the problem with this model is that it does not shield you from inflation, or generally loss of buying power of a currency.

And besides keeping money💰 in a bank is loss of opportunity to grow your bank account as its gaining little to no interest at all while banks themselves  make money off your deposits, which is why business minded people never let it sleep there but invest it in other ventures that can make so cash for you whether big or small profits they can make a huge difference.

Just saving money is not enough in my opinion because its value will decrease over time. And we should use our money for something that can produce or be productive. I won't say it's the wrong thing to do, but we can definitely judge which one is better for us to do.
I also save money, but it's a diferent form of money that I use for business or investing. Although the amount is not much, I do my best to save and invest at the same time. I always set aside a few percent of my income, and I use that amount to invest and save the rest. There are actually many ways we can do it, but again it comes from our big desire.

[Baki202]

I think as of the 21st century, every investment or financial playbook out there encourages saving as a means to take care of you and your family when you can nolonger work because you grow older or retire early ..but the problem with this model is that it does not shield you from inflation, or generally loss of buying power of a currency.

And besides keeping money💰 in a bank is loss of opportunity to grow your bank account as its gaining little to no interest at all while banks themselves  make money off your deposits, which is why business minded people never let it sleep there but invest it in other ventures that can make so cash for you whether big or small profits they can make a huge difference.

Yeah, people have gotten wiser and don't want to leave there money dormant again, and people are trying by all means to invest the money. At this point in time, I don't think anyone will even take savings as an option. And if there is any money, it can be divided between investing and keeping some for yourself. And those who are retired, need to choose what they intend to do with there money if they don't make good use of it.

If not for that, everyone is affected by this inflation, and gradually people are losing the power to be able to purchase most of these products. Even if you want to keep your money in the bank and talk about fixed deposits, you gain a lot of profit from them, so its better to invest.

[kentrolla]

This stands true for most of the countries but it would be s stupid move if you save it in form of money because you will never be able to catch up with inflation hence I would say it's not just saving but rather it should be an investment which should help us to overcome or atleast have break even with inflations. I think instead of saving fiat we should explore options like real estate, bitcoin, gold, stocks as these assets will help us to multiply our money else we will not be able to have sufficient money even if we save for ages with just fiat.

[kryptqnick]

There's nothing wrong with savings, and I agree that having some extra for special occasions or emergencies can be very useful. But if you live in a country with unstable fiat, you should mind the inflation rate and consider keeping savings in a more stable fiat currency (like the USD) or in something different altogether (like Bitcoin).
Regularly setting aside some money for savings is also useful to make one more organized and more mindful of one's spendings.
In my country, saving some money is considered fairly common, whereas taking loans or using credit cards is considered risky and unfortunate, so the op's advice falls in line with our local culture, but I suppose things are different in other places.

[Dzwaafu11]

To cut the story short, I’m advising mostly the young people of our generation to save, avoid unnecessary spendings and save even if it’s so little, cause you might find yourself in a situation tomorrow and you wouldn’t want to call home or ask for help, cause you have a second choice, that means you are literally getting yourself out of a problem. So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.

Many individuals are unable to differentiate between what they want and what they need. and that is why many people are still squandering their money on things that will not benefit them either now or in the future. It is very good if we can be able to detect these two things because it is very important to us to know as it will help us to be successful in the future. Furthermore, we don't know what will come up at any time that will need financial assistance. We will not boarder ourselves to go and borrow money. However, saving money is not really an easy thing to do. I can personally testify that because we cannot save money when we have financial problems to solve, you can see that it is not really an easy thing to buy. It is something that will help us if we have patience and do it.

This stands true for most of the countries but it would be s stupid move if you save it in form of money because you will never be able to catch up with inflation hence I would say it's not just saving but rather it should be an investment which should help us to overcome or at least have break even with inflations. I think instead of saving fiat we should explore options like real estate, bitcoin, gold, stocks as these assets will help us to multiply our money else we will not be able to have sufficient money even if we save for ages with just fiat.

You cannot decide for them if they should invest in bitcoin or not. The only advise you can give to someone is to save money. Let me tell you that your bitcoin investments are a choice. You cannot force anyone to participate. You're already aware that the bitcoin has a certain risk, and it's obvious that not everyone is willing to take it. People who are not aware of investing will not want to invest; instead, they will save in fiat; they are unconcerned about inflation; and the majority of them are not saving to multiply; rather, they are saving for emergencies.

[Myleschetty]

I wasn't really a saving type, but lately looking at the current situation of things in my country, how costly things have gotten, once money enters your account or wallet, you'll be suprised of how you won't be sure of how it vanished, not to talk of having a tangible reason of what you did with the money. So recently looking at how people cry for money and personally looking at how I needed money I decided to start splitting the little allowance I get, saving one part and using the other, I won’t really say that it has made me a billionaire or that I no longer lack money but at least I have cash somewhere that I could call my own and fall back to in cause of emergency.
    To cut the story short, I’m advising mostly the young people of our generation to save, avoid unnecessary spendings and save even if it’s so little, cause you might find yourself in a situation tomorrow and you wouldn’t want to call home or ask for help, cause you have a second choice, that means you are literally getting yourself out of a problem. So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.

What you said is quite the right thing for everyone to do due to the world economic situation and the government level of management is leading to recession in most countries and different economic problems. However, you advise the people to save some part of the salary and funds, and if the saving is not done in the right way it will lead to loose of the value of the fund.
You ought to advise people to save funds in cryptocurrency not in fiat currency. I believe that's what you mean but some newbies will understand you and have the belief of saving in fiat.

[nara1892]

I wasn't really a saving type, but lately looking at the current situation of things in my country, how costly things have gotten, once money enters your account or wallet, you'll be suprised of how you won't be sure of how it vanished, not to talk of having a tangible reason of what you did with the money. So recently looking at how people cry for money and personally looking at how I needed money I decided to start splitting the little allowance I get, saving one part and using the other, I won’t really say that it has made me a billionaire or that I no longer lack money but at least I have cash somewhere that I could call my own and fall back to in cause of emergency.
    To cut the story short, I’m advising mostly the young people of our generation to save, avoid unnecessary spendings and save even if it’s so little, cause you might find yourself in a situation tomorrow and you wouldn’t want to call home or ask for help, cause you have a second choice, that means you are literally getting yourself out of a problem. So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.

However having good management of money is always recommended, and when you are able to appreciate the value of money then I think you will prioritize considering first before you finally spend the money, on the other hand most people these days have difficulty in distinguishing between needs and wants, they are always trapped in the thought that it is their needs but in fact there is no benefit that is too important from the items they buy which in the end the money goes to expenses that should not be necessary, Therefore, if you are able to appreciate and manage money well then I think you will prioritize function over prestige, but unfortunately most of today's youth always prioritize prestige over needs and saving is an action that they ignore when in fact this is an action that must be considered and done because it is for their own benefit, as the OP said that you will really feel that money is very valuable when you are already in a situation that is quite alarming, right, surprised when you see the increase of some necessities. So the bottom line is the mindset in terms of the perspective of money that must be corrected in my opinion and also they must change the habit of buying something that is basically not too important and then menga

[Viscore]

 So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.

But will you keep saving when there's a better way for you to secure tomorrow which is by investing? Investing offers a better option to me than saving because in saving your money may be losing value due to inflation but when it comes to investing the money is building value against tomorrow. Do not save without investing. If you want to have things easier for you tomorrow then it is better to make sacrifices today to make good investments that will be profitable for tomorrow.

If you start investment at an early age you will be able to retire early when you're old.

Saving will always be a must have for us. Not only it will serve as our emergency funds, but it will also be a good source of our investment capital. First, you save regardless of any amount and when you have good amount, reserve a portion for investment that you can afford to lose, but still continue to save to back up your finances.

While saving is a good start, investing is the end goal. Your savings would save you tomorrow but investment profits will multiply your savings amount, which means you will establish a better and brighter tomorrow, not just for you, but also for your whole family.