Saving don't make wealth

[Mrbluntzy]

There are usually different aims and objectives towards every savings plans of an individual. Most people are not saving for wealth creation, some are only saving for the rainy days which means difficult times. Sometimes you can have a goal of investing into an asset but you don't have enough money to do so and you have to start a saving plans towards that goal. That's what some people are doing, they will have to continue saving up some money for more than two months until they have reached the actual capital needed  to for their investment. People don't keep bulk of money without having any aim towards the money.

[Sophokles]

The word saving tells the nature of it. Saving your wealth means you are saving it not only from decreasing but also increasing. It will keep your wealth from making any profits so investing is the best use of wealth. Many people think by making any investment they will take loss when there is various option for investment that has minimum chances for loss.

[$anounimus$]

There are usually different aims and objectives towards every savings plans of an individual. Most people are not saving for wealth creation, some are only saving for the rainy days which means difficult times. Sometimes you can have a goal of investing into an asset but you don't have enough money to do so and you have to start a saving plans towards that goal. That's what some people are doing, they will have to continue saving up some money for more than two months until they have reached the actual capital needed  to for their investment. People don't keep bulk of money without having any aim towards the money.

Some people certainly have their own concept of managing their finances. Saving is also one part of maintaining the foundation of the economy to become stronger. Everyone sometimes starts to save to prepare for investments in the future. I agree with your thoughts that sometimes everyone doesn't have enough money to be able to do something but they will always be able to save their finances for something anyway.

[PytagoraZ]

I think that only applies if you are saving fiat money. Unconsciously we will lose because the inflation rate is higher than bank interest, unless you have large savings, but if the savings are only small then I agree with you

But the situation will be different if you save bitcoin, your money will increase faster even than the value of any existing investment. Especially if you get an ATH moment like now, it will definitely be very profitable. And if you have bitcoin, it will be safer to keep it in your wallet without needing to invest it anywhere because that will only increase the risk.

[Egii Nna]

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.
 

The main concept that I think you don’t understand is that for everything you want to do in this life, you need a backup plan so that you will be ready for any unexpected thing to happen. You will always have a solution when you encounter a situation. Why I said that saving is like a backup plan for your investment is that most of the time we do have emergencies and other unexpected issues that require money, and if you don’t have any plan against it, you will definitely temper your investment, and that will not help you but only crash down all your efforts that you have made so far for your investment, and you will just end up bankrupt and left with nothing. 
 
That is why most of the time I do emphasise that when ever you want to be a wealthy man on this earth, you have to follow a neat strategy and know what exactly you are doing; if not, you might end up losing everything because this life is a game for the wise, which means a lot because if not for the wise, you won’t even know the right time to do the right thing. Moreover, if you really want to be that wealthy, you will most likely adapt to any situation that comes up. That is why it is very hard for someone who is not smart to be wealthy, because if you are not smart, you will find it hard to succeed in life.

[bitLeap]

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.

Saving and investing are both good, because the bad ones are those who don't save and don't invest. So there are some people who have their own concept of accumulating wealth. Although in terms of saving, especially savings in fiat, it will only lose value day by day, while investments whether in real estate, bitcoin, gold, etc., have a reversal in profits that can be clearly seen. In essence, I will not harshly criticize those who are only able to save because we do not intervene in their financial management. It is better to let the process bring them to the concept of wealth according to the level of ability they can achieve.

[Sarah_Jannat42]

Indeed, saving does not create wealth but saving should not be avoided altogether as it may be your shield in times of trouble in the future. But if we invest all our income without saving anything and if we can profit from it then there is no point; if we can't make a profit or lose then it is wasted. It does not mean that you will invest all the assets or all the income but you will just save all the income or assets. By that, I mean that you should divide the portion of your income so that you invest most of it and save a small portion for the future. Savings will not make us rich but it can give us financial security in the future.

[0t3p0t]

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.
 

Savings in fiat won't make your money grow but saving Bitcoin does. This is due to the fact that fiat is a stable currency while Bitcoin is a volatile asset though risky but still has huge potential to give decent profit from our holdings. But this still depends on how we manage our investments because we can choose from variety of assets we know around either centralized stable assets or decentralized volatile assets.

[letteredhub]

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.
 

Op just a few questions:
Can you comfortably keep to an investment plan without a savings?

Isn't savings that starting point to becoming an investor? Because in my opinion, if you don't have a good saving culture you can't make a successful investment plan and keep to it.

[cakravothy]

clearly saving money will not make you rich. your money that you save in the bank will decrease in purchasing power due to inflation. because bank rates are always below inflation. so your money is not an asset but will experience a decrease in purchasing power.

[DeathAngel]

Saving fiat in regular checking accounts will never build wealth. It’s difficult to find a savings account that even matches inflation. The way to build wealth is to invest in real estate, stocks, cryptocurrency. Nobody gets rich simply saving. You have to invest in assets that increase in value over time. If you’re not even beating inflation then you are unknowingly getting poorer.

[kentrolla]

Saving fiat in regular checking accounts will never build wealth. It’s difficult to find a savings account that even matches inflation. The way to build wealth is to invest in real estate, stocks, cryptocurrency. Nobody gets rich simply saving. You have to invest in assets that increase in value over time. If you’re not even beating inflation then you are unknowingly getting poorer.

I second your thought because saving with Fiat will never make you wealth as the bank interest rate hardly covers inflation to be honest you have a look around those who have built wealth it's not through saving it's rather through investment and like you mentioned stocks, cryptocurrency and real estate are three of the most prefered investment as these assets yield more profit with time. It's better if people realizes this at the earliest especially those who don't want to risk money in investment but end up having their savings devalued.

[hyudien]

That's why it's very important to have good management of our finances. Saving will not make us rich, but it is important. Investing without saving will make us difficult when we have sudden needs. Many people underestimate saving, but they have to sell their investment assets reluctantly, and sometimes at low prices to meet the sudden needs they face.

For this reason, many people have suggestions for putting some of your income into savings. Even though it's only around 20% to 30% of your income, it can be useful for you in the future. maybe you can use 40% to 50% of your income to invest, and the rest to meet your living needs.

I agree with you, saving money will not make you rich, sometimes people save when they want to buy something and when they have enough savings they will stop saving, I don't think saving money is bad. Saving is a good thing in money management, and I'm sure not everyone can save consistently. Most people don't think about saving when they have money, they only think about buying what they want according to the money they have.

It's true what you said, investing without saving will make it difficult for us, at some point if there is something that happens or a sudden event, of course it will cost money to overcome it. And if you don't have savings, maybe your investment will be the victim. Of course that should not happen, therefore we must have savings not only to maintain the investment made, because of course there are other needs later that will also occur. In my opinion, setting aside part of the income earned for savings is good, regardless of the percentage but it is worth doing.

[lovesmayfamilis]

I would recommend a book for the OP topic called “The Richest Man in Babylon.” I gave this book to my little son to read, and it is even more recommended for adults. The first thing that is important in your savings is that you always need to pay yourself from your very first salary. Leave some. Regularly, this might be called DCA now, but it has been recommended for many years. And only after that should you make this money bring you passive income, which will essentially work for your business again and again.
Any money should not just lie there; only then will your savings make sense.

[kryptqnick]

I think that saving and investing do not necessarily need to be presented as opposites. I'll tell you a couple of examples.
When I was young, my grandmother was saving a bit of money on a regular basis, but she was doing it in the USD rather than in local fiat. When a major political disturbance came and local fiat depreciated by around 30%, her USD savings turned out to also be a successful investment because she didn't just save up money but actually got profit due to local fiat devaluation.
Another case is how I personally approach Bitcoin. I treat it as a savings account because it's more reliable than fiat (as fiat loses value over time). I take some money out when I need to, but generally, I'm trying to save up in BTC. Meanwhile, BTC is growing in the long run, so it also kind of becomes an investment.

[AbuBhakar]

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'.

This is ridiculous. You are only looking to the condition which a person earn small amount of money that’s why saving doesn’t make any change since the amount you earn in general will not gonna make you wealthy. But what if the person in subject here has a huge salary but failed to be wealthy because his expenses is too much on unnecessary things without any savings?

This time savings is very effective to become wealthy. In fact there’s no guarantee either that you will become wealthy on investment. Surely it will give you a chance but that is not guaranteed because there’s still lose in investing while savings doesn’t have any risk.

[AnonBitCoiner]

clearly saving money will not make you rich. your money that you save in the bank will decrease in purchasing power due to inflation. because bank rates are always below inflation. so your money is not an asset but will experience a decrease in purchasing power.

Saving will not increase in worth but saving is important in order to cope up with inflation. Something is better than nothing so i think saving little money is better than spending whole money in useless things.

If someone is not consider saving as a good technique then he can use this saving amount for investment but in investment you will have fear about dropping of money. To become rich is only possible through investment so take the risk if you want to become rich and leave the upcoming results on the situations of market and for such purpose bitcoin investment is suitable option.

[Bravut]

To the OP there are some things he says that are not understood but I will not blame him because he is a newbie.

It seems to me that he has an important confusion. First, saving is the previous step to investing. In other words, one thing should not be opposed to the other. And secondly, we have already explained many times that the best thing to do is to have a part of savings, for emergencies or expenses that you foresee, and then investments. In other words, the dichotomy he puts forward is false.

 Am happy you understand what I mean, am laying emphasis on investing mainly, am not saying one shouldn't save but we invest either our profits or your savings.
 And most importantly the rarest truth saving wouldn't make one wealthy. So am not confuse.

[ringgo96]

To the OP there are some things he says that are not understood but I will not blame him because he is a newbie.

It seems to me that he has an important confusion. First, saving is the previous step to investing. In other words, one thing should not be opposed to the other. And secondly, we have already explained many times that the best thing to do is to have a part of savings, for emergencies or expenses that you foresee, and then investments. In other words, the dichotomy he puts forward is false.

 Am happy you understand what I mean, am laying emphasis on investing mainly, am not saying one shouldn't save but we invest either our profits or your savings.
 And most importantly the rarest truth saving wouldn't make one wealthy. So am not confuse.

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.

[Kelward]

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.

After you remove money for basic expenses for the month or week, I think you should divide the rest, save %30 in fiat and invest the rest%70. The savings incase urgent expenses arises, so you won't be running around looking for where to borrow, then investment to secure your future. One of the best investments that anybody can have in this age is Bitcoin, you can be doing DCA method to accumulate and hodle on the long term, it's a profitable asset that will keep increasing in value.