Saving don't make wealth

[iBaba]

Savings and investments are both important, and in my own understanding they're supposed to play different roles in a person's income, what is not good economically is spending all your income as they enter. The best thing is for a person to have a budget and determine what goes where, how many percentage for investment, savings and basic expenditures, with this maths the person will not spend on unbudgeted items , except in an emergency.

I know that managing our outflows and inflows, as well as controlling our budget expenditures with our income, will greatly benefit our financial capacities and life as an entirety . However, personally, I feel that it’s one of the most difficult tasks to undertake. It’s not easy, especially if you live in a country where you face numerous unforeseen circumstances, and the money you earn barely covers your needs, let alone your desires.

For example, many of us earn five, six, or even seven-figure incomes, yet we often find ourselves spending almost all of it. This happens because we’re constantly confronted with various challenges in our society, such as inflation, insecurity, an unstable market, economic downturns, and numerous human and environmental factors.

But Just as a farmer diligently tends to different crops in the field to ensure a successful harvest, individuals should nurture their finances through saving and investment. Savings can be likened to the soil, providing security and a foundation for growth, while investments are the seedlings that hold the potential for maximum growth. On the other hand, expenditures act as parasites when not managed properly, affecting both savings and investments.

As financial managers or individuals seeking to navigate today’s economic reality, we must adopt the mindset of a farmer protecting their seeds, taking all necessary measures to prevent parasites from infesting them.

[Solosanz]

if people do business they prioritize investing compared to saving, because investing is much more beautiful for getting profits and we can always multiply the assets we have, but to save we only save assets and cannot multiply like in investing, for me investing much better than saving, although currently there are still many people who rely more on saving because there is no risk of loss.

Nope, the reality most people are choose investments over savings, you will argue with me if most people store their money in banks. That's correct people store their money in banks, but they're choose time deposit instead of save in their accounts, time deposit is an investment.

But, unfortunately they're wrong to choose time deposit as their investment because it's not able to beat inflation rates.

[bestcoins1]

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
 Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is  'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
   Let discuss this guys..
  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.

It would also be more accurate to say that save and invest for tomorrow so you can get more interesting things in life. Because when someone has the intention to invest but he himself still doesn't have the capital to buy an asset like Bitcoin, isn't the step he has to take first is to save so he can have the capital to buy Bitcoin and take it into future investments?

You also have to be able to understand this, that every asset that is truly valuable and also truly expensive, such as Bitcoin, will not be able to be obtained in large quantities if someone does not have the initial capital. So saving and investing actually have to be carried out simultaneously so that what we want can be achieved, although not in an easier way. Because everything we want to achieve in life always requires a process that everyone must go through without discrimination.

[YOSHIE]

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.

Even the methods and words are not the same, saving and wealth, these two factors are basically different, Of course, it is very clear that saving does not bring wealth because the value of assets does not increase, because it is a saving that is based on a portion of income.

Talking about investment, of course we all know, the nature of investment can boost or add to the value of the investment assets we make, whether in terms of crypto, gold, land and so on, it can be short or long term, in this case of course investing can add wealth while saving does not, the value we save remains the same, my understanding is that saving is more based on collecting funds for emergencies, which can be taken and used at any time, not to create wealth.

[Z390]

Can you leave savings out and as a grow up child you start with investment? Because I do believe that savings is the first investment that every child must go through, if you can't save consistently, it's will be very hard for you to invest, savings takes some nerve and investment is even harder, because takes a long period of time, if the person isn't disciplined they will fail on the half way.

Savings isn't as bad like some are saying, things have changes I know that, but my parents have used savings to acquire some properties in their time, there isn't something they can invest money on then, than buying lands and gold, they use savings to get everything they had.

Savings is the first process, the second is you been able to take your eyes off your money for years to se your money turn into double or more, many people find this hard to do, that's why they can't turn anything around, you will seeing them blaming the rich and they don't have the same balls as the rich. 

[Ricardo11]

In fact there are people who cannot exploit savings. They always only store in a box or to themselves, in it their savings never grow, they only have what they save and they never get much out of it, instead they end up losing more because The value of money decreases with time. It is better to invest for long term rather than saving, because everyone usually saves for long term, and we know that every investment gives us more profit if it is for long term. Now if they are addicted to long term investment instead of long term saving then they can achieve much better in future. Moreover, now that the price of Bitcoin is increasing a lot, they should buy Bitcoin and hold long-term bitcoins as they will get much higher returns in the future.

[bittraffic]

In fact there are people who cannot exploit savings. They always only store in a box or to themselves, in it their savings never grow, they only have what they save and they never get much out of it, instead they end up losing more because The value of money decreases with time. It is better to invest for long term rather than saving, because everyone usually saves for long term, and we know that every investment gives us more profit if it is for long term. Now if they are addicted to long term investment instead of long term saving then they can achieve much better in future. Moreover, now that the price of Bitcoin is increasing a lot, they should buy Bitcoin and hold long-term bitcoins as they will get much higher returns in the future.

People are just saving and some are afraid to invest because of scam. Too paranoid to learn it all and after all, most news about crypto are scams. The news is often going to exaggerate how bad the scam is when in fact it had happened before and was even worse so people although they know BTC is real not a scam, still are skeptical about investing because the platform may be a scam.

The only option left is just to keep the cash after all. Cash is king. Its still accepted everywhere.

[Chilwell]

if people do business they prioritize investing compared to saving, because investing is much more beautiful for getting profits and we can always multiply the assets we have, but to save we only save assets and cannot multiply like in investing, for me investing much better than saving, although currently there are still many people who rely more on saving because there is no risk of loss.

Nope, the reality most people are choose investments over savings, you will argue with me if most people store their money in banks. That's correct people store their money in banks, but they're choose time deposit instead of save in their accounts, time deposit is an investment.

But, unfortunately they're wrong to choose time deposit as their investment because it's not able to beat inflation rates.

I quite agree with you, time deposit doesn't beat inflation rate because the money saved will not increased but lose more value. I think savings in more important for people that are earning on a daily bases, and again time deposit is not made for poor people, investment is not made for everybody because not everyone can afford to take risk that why some people choose to go for time deposit because they believe they can't bear the risk if it losses value than to lost everything, this also depend on how the person make their money.

A family friend applied for a load which it was approved before the expected time and the purpose of the loan is to buy furniture and the date for the event was not close then they decided to go for the time deposit which I decided to kick against that but they didn't listen to me, but I didn't blame her because the origin of the money matters.

[traderethereum]

If they only save in the bank, it doesn't make a difference because now there are a lot of costs that have to be incurred so we should get interest from the savings instead we have to pay the costs. Apart from that, the interest is smaller than the costs so we will not get an increase in the amount of savings.
But if you choose to invest your money in gold or bitcoin (because we already know bitcoin), it can provide greater profits because there are no costs in storing bitcoin. When the price of bitcoin increases, our profits will increase when we sell the bitcoin at the highest price.
But there are still many people out there who don't believe in Bitcoin so they still make the wrong choice in choosing their investment. They need to learn more about investment so they can choose the right investment that is suitable for them and get the profits they want.

[m2017]

Invest because savings doesn't increase or builds

What if these savings are in the form of bitcoin? Then you will also say that "savings doesn't increase or builds"?

It all depends on what your savings are. If in traditional money, then it only depreciates.

investing is what gives you the life you want.

It seemed to me that a lot of money "gives you the life you want". Just investments allow to extend this life, allowing profits to outpace inflation (depreciation of a lot of money).

No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.

True, but first need to properly define the concepts of saving and investing, because these concepts can be combined.

[DanWalker]

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
 Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is  'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
   Let discuss this guys..
  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.
 

Agree with OP that investing is more profitable than saving, saving only makes our money lose value over time. But investing doesn't just mean profits, it also comes with risks, and it gets riskier when you choose to invest in bitcoin. Have you thought what if you bought bitcoin for 70k 3 years ago and you need money in 2022 when bitcoin price drops 60-70% of its value? What would you do in that situation if you had no savings? Don't get too excited when the market is bullish and have the illusion that bitcoin will always bring profits without risk. It can be said that having an investment will give us the opportunity to change our lives, but never underestimate a savings account for emergencies.

[Yatsan]

Yes, but is for sure a tool. If you are just saving then at least it would be better than not having anything at all. What I meant with 'saving as a tool to achieve wealth' is to eventually use it to an investment. In investments, bigger capital would most likely result to bigger profit, but with bigger risk as well. Saving will never be a bad thing. Investments are indeed a good option to create bigger income or cashflow than with saving which is more stagnant and dependent with the amount you are keeping. However, not all investments are profitable, right? Risk will be the thing you would avoid and with savings, that would be self-discipline in accordance with consistency. Saving won't give you wealth in an instant, but it would be a huge thing to help you achieve wealth, no doubt.

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
 Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is  'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
   Let discuss this guys..
  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.
 

Agree with OP that investing is more profitable than saving, saving only makes our money lose value over time. But investing doesn't just mean profits, it also comes with risks, and it gets riskier when you choose to invest in bitcoin. Have you thought what if you bought bitcoin for 70k 3 years ago and you need money in 2022 when bitcoin price drops 60-70% of its value? What would you do in that situation if you had no savings? Don't get too excited when the market is bullish and have the illusion that bitcoin will always bring profits without risk. It can be said that having an investment will give us the opportunity to change our lives, but never underestimate a savings account for emergencies.

It just depend on one's risk appetite. Some peopl are better living with savings alone simply because they are afraid to take the risk. They're more into assurance with situations or times they will be needing the money they are saving than to risk making it double or just more with investment.

[Rruchi man]

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
 Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is  'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.

We were usually advised to save money before because to invest then you had to have a good amount of money, and to get this money, you had to save up for it. Saving may not make sense now because there is the opportunity of investing from any amount you have.

So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure.

Carefully investing in other ventures and things is a good choice from the profit of investment made on cryptocurrency. Multiple investment mean multiple expected streams of income, and that is how wealth is made.

[harapan]

Investment is really important in order to get wealthy but it's not right to say that saving makes people poor. In fact saving is the first stage of investing, if you don't save money then how could you invest it? I believe saving and investing work simultaneously.

If someone who's good at saving then that person can invest some money in Bitcoin and a few other assets in order to earn revenue when the Bitcoin or those other assets gain value. By following a DCA strategy, and holding your Bitcoin, you can gain profits and that's similar to saving, I guess DCAing and holding is similar to saving.

Saving and investing are both important and interesting factors to build up a strong and secured financial standard.It's just that most people this days prefer saving to investing,forgetting that they're two different things.There's a difference between saving and investing.Saving is putting some of your money away to cover emergencies and other unforseen circumstances;investing is making your money work for you;putting your money into things that'll ideally increase in value and make you more money.
 
If you start saving from your teen age till grow up to an adult,the money you'll get from your so called savings insignificantly has no effect on you,your lifestyle and well-being.Then consider investing the multiple times you also applied to savings and see the outcome.

If you have more than one financial goals to meet you’d like to put your money either to savings or investing.It depends on you though, you also might consider a combination of saving (for short-term goals) and investing (for long-term goals).Saving is a good habit,but without investing you're goin' slide😁...whatever you do,make sure you Save for what's around the corner and invest for the future because the act of saving and investing will dynamically change the way you live your life in the future.

[yhiaali3]

I do not agree with your opinion regarding cryptocurrencies. In my opinion, saving is better and safer than investing, especially for those who do not know much about the nature of cryptocurrencies, their fluctuations, and investment risks.

Some people are not good at investing and waste their savings due to their lack of experience and lack of understanding of market risks. The best solution for such people is to save in the long term, where they stay safe away from market risks and wait for the rise to reap their profits.

Sure they won't get rich but at least they make some good profits and stay safe.

[ScamViruS]

Savings is very useful in any unexpected situation, savings is important as well as investing. But putting too much faith in savings and not making any kind of investment makes one poorer. But the dependence on savings is high among people because they consider investing as a risk, so they are more interested in saving in the bank than investing.

Investing in good places will be the best decision with the way inflation is rising now, because the inflation situation will get worse in the future. We all have to think about investment now, and investing in Bitcoin will be the best decision and Bitcoin can change one's current situation.

[RockBell]

If they only save in the bank, it doesn't make a difference because now there are a lot of costs that have to be incurred so we should get interest from the savings instead we have to pay the costs. Apart from that, the interest is smaller than the costs so we will not get an increase in the amount of savings.
But if you choose to invest your money in gold or bitcoin (because we already know bitcoin), it can provide greater profits because there are no costs in storing bitcoin. When the price of bitcoin increases, our profits will increase when we sell the bitcoin at the highest price.
But there are still many people out there who don't believe in Bitcoin so they still make the wrong choice in choosing their investment. They need to learn more about investment so they can choose the right investment that is suitable for them and get the profits they want.

Saving takes a lot of effort and does not work anymore because everything is becoming more expensive. And this demonstrates that while saving is beneficial, it should not be the exclusive focus of any investment. Savings without a purpose is not a plan. That is the disadvantages of relying of savings in the future there will be no increase. Bitcoin is a very good option to consider because you have control over your money and if the price of bitcoin is going up the same way your money will increase. Which will you prefer. Doing comparison won't favour but do your own research so that you can decide what exactly you want to do because if you look at it bitcoin might not favor you. If its bitcoin you will do bitcoin and if it is gold you do gold as far as your money is not laying there dormant. If they want to invest they should build there knowledge first then other thing should come second.

[Barikui1]

Saving fiat can't make anyone rich because in today's economy the worst thing you can do to your self is to save fiat  while inflation eat it up, it's has already been proven that if you want to save, hold that money in anything that grows in value overtime, something like Bitcoin, land and gold.

Holding fiat is never a good idea, the major purpose of why people hold fiat which is for a short time is due to emergencies, so that they will have some money at hand when they needs to address some financial needs, not for the long term.

[Asuspawer09]

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
 Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is  'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
   Let discuss this guys..
  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.
 

I mean I get your point here, for sure saving and investing and different, also investing is much better than saving because investing is something like buying an asset that could potentially give you some kind of return like for example you buy or build an apartment which could be a passive investment because after you invest on that money it could probably give you consistent high return because of the possible payment of the rent but the thing is it could potentially generate you money.

Then saving is just gathering your money like for example in a bank, it could probably be your salary or every time you get the money you're going to get a small percentage of that put in the bank until you save a huge amount of money, potentially will get a very low interest since it's saved on the bank. So it's understandable if people who'd think that saving is not going to make you wealthy or rich, but still it's going to be an important thing to have, since having liquid money or savings that you could easily use is a convenient thing to have.

We could situate it to its own risk because like for example we have investments like Bitcoin or cryptocurrency that could probably be a good thing overall compared to savings but it has a drawback because of its risk, is investment a guaranteed profit? not really right, We could say that it is an even better thing to do but after a few years if Bitcoin does not exist anymore can you still say that investing in Bitcoin is better than saving?

The thing here is Saving is important we could just call it a foundation, it's not going to be wise to just invest in something without having some kind of savings as a backup plan, and then we have investments or assets that is going to generate our income it could be investing in Bitcoin or could be a business.

[bitterguy28]

saving fiat money for the long-term is not advisable as fiat’s value declines over time if your $1 today can buy a cheeseburger… in a few years it can probably just buy a piece of gum

if you want to use your bitcoin money for other investments then you can do that depending on your financial status but mate it’s ok to live your life sometimes do not be too focused in gaining profit