How to save successfully?

[Questat]

Saving does not necessarily require us an instant big amount. Whether it's big or small, it does not actually matter. What's most important is how you often save regardless of its amount. So if you have only few bucks left from your salary, then continue saving it because once the value compounded, it will gradually become a significant amount. And frankly speaking, even the poorest of the poor can definitely save if he really aims to, it only depends on the kind of mindset you chose to adopt.

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

[Solosanz]

Because they not dare to fight against their parent and family.

Let's say a poor person have a father who sick and not able to work, mother who become household for her 5 kids including him, his mother also take a part time job. He's the first kids who work, while his 4 younger brothers are still at school.

He's forced to be a provider for his family, he afford his father, mother, and 4 younger brothers.

If he dare to cut off from all of them, he will able to save money.

Anyway I only explain the logic and reason why people can't save money, I'm not talking about ethic, love or anything else.

[Die_empty]

Saving does not necessarily require us an instant big amount. Whether it's big or small, it does not actually matter. What's most important is how you often save regardless of its amount. So if you have only few bucks left from your salary, then continue saving it because once the value compounded, it will gradually become a significant amount. And frankly speaking, even the poorest of the poor can definitely save if he really aims to, it only depends on the kind of mindset you chose to adopt.

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

People complain because they don't even earn enough to cover their basic needs. They can't pay their bills without difficulties so it's close to impossible to save even a small amount. Some.even have to borrow to survive.

But your observations are not wrong. Some poor people money on irrelevant things. Meanwhile, these funds can be saved for future purposes. An individual who is struggling financially shouldn't be spending money on pleasure when he has no savings. Money spent on cigarettes, junks, and alcohol could be good savings.

[pooya87]

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

It depends on the person and their situation. There is no single answer to this. For example there are some people who have high unavoidable expenses, like those with a certain illness like cancer, diabetes, etc. that requires treatment that sometimes is expensive. Maybe they have a child that needs it, and so on.
These people, not only can't save up they sometimes have to borrow more money.

But generally speaking to save and improve one's net worth one should do two things: (1) increase income (2) decrease expenses.
We all waste money on something we don't have to. Some people have bad habits like smoking, drinking alcohol, etc. that are harmful to their health and giving that up would not only improve their health but also would leave some extra bucks in their pockets. That is the decreasing expenses part.
The other thing is obvious, people can take additional jobs to make some extra cash.

In the end, saving is only part of the equation. People need to invest their fiat into something that is considered store of value so that they can maybe even make profit. Something like gold or bitcoin.

[Nahl]

I think it's not about the inflation only why so hard to saving although the people has monthly salaries and their earning amount also will determined those people can saving or not because there are a lot of people who working only to feeds their families even sometimes their salaries is very less so, these people can be categorize as poor people because they have no savings during their lifetime

Besides that i think lifestyle also could be the main factor why saving is so hard because usually we just follow our desides and wants by buying the luxury things or buy unnecessary things and if people have enough salaries and they have chances to saving the most important is to be consistent and self control to managed their financial

[Ishicryptic]

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

Savings is very important but you need to have the money to save before you can do it, your salary needs to first cover your most important expenses like food and rent before you can talk about savings. If your salary is not enough to have a discretionary fund you cannot be able to remove money for savings, if you save money it will not last because you will be under pressure to use it for immediate expenses like food. Every responsible person want to save money and have emergency funds but if your salary is not enough to cater for it there is nothing you can do. You can either cut your important expenses to have something to save or you will forget about savings till you increase your income.

[Cgrexp]

Saving does not necessarily require us an instant big amount. Whether it's big or small, it does not actually matter. What's most important is how you often save regardless of its amount. So if you have only few bucks left from your salary, then continue saving it because once the value compounded, it will gradually become a significant amount. And frankly speaking, even the poorest of the poor can definitely save if he really aims to, it only depends on the kind of mindset you chose to adopt.

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

If there is consistency, then small savings turn into big numbers in the long run. Saving is basically a mindset and habit. However, mindset alone does not help in saving, at the same time, improvement of financial structure is also needed. There are many people who may have a mindset of saving but in reality they cannot save due to financial pressure or debt or due to increase in the price of daily necessities. Therefore, some planned steps have to be taken with willpower. For this, a proper budget plan has to be made. However, to save, it is not necessary to have a large income, for this, a little awareness planning and a strong mindset are enough.

[bakasabo]

Now my question is, why do a lot of people complain that saving is too hard for them?

I think the reason why people are not able to save because economy always forces them to spend money. Nonstop economy produces new goods and services, advertise them making them necessary to purchase. Ask any person what would he buy if he has unlimited amount of money and give a minute to think, he will come up with A4 list fully filled with what he wants. Some people are impatient, some understand that they have only one life and it is short, and they start spending. Why save and wait, when I want for example new iPhone 17 today, but not in two years.

[BTC FutureKing]

I think the reason why people are not able to save because economy always forces them to spend money. Nonstop economy produces new goods and services, advertise them making them necessary to purchase. Ask any person what would he buy if he has unlimited amount of money and give a minute to think, he will come up with A4 list fully filled with what he wants. Some people are impatient, some understand that they have only one life and it is short, and they start spending. Why save and wait, when I want for example new iPhone 17 today, but not in two years.

This thing is often necessary for household chores and use, and if we talk about success it will not be like this, he succeeds through his hard work and other things. What you have said is quite beneficial but it does not have much impact. There are people with both kinds of thinking due to which the world system is running. Now if I say that your life will end tomorrow, for a moment you will feel that I am lying, then when some things start coming true, you will start believing after that you will try to fulfill all your desires. Similarly, there are some people who do not look at their current life to keep themselves to themselves.

[Oshosondy]

even the poorest of the poor can definitely save if he really aims to, it only depends on the kind of mindset you chose to adopt.

You mean poor among the poorest? Such person may not be able to save. I have seen people buying something on credit and later pay when they collect salary. That means their salaries is not enough.

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

Inflation does not stop people from getting rich. Without inflation, those that will remain poor will remain poor. Inflation is not the reason it is difficult for people to save.

We are in modern world, there are many good assets that they can buy with little amount of money.

[alastantiger]

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

People can't still save if there was no inflation, people just want to keep spending without thinking about saving and that's the reason they find saving not easy to do. They have the wrong mindset about saving and this makes them to spend before saving hence it becomes hard for them to save. The correct way of saving is saving immediately you get your paycheck first before spending because when you're spending, you might overspend then it becomes difficult to save but when you have already saved, it won't affect you. This is the strategy that I have been using to save successfully and it worked. Saving helps alot but people still don't understand this. They always want to spend all their money and that isn't a good money management habit to have.

[boyptc]

Saving does not necessarily require us an instant big amount. Whether it's big or small, it does not actually matter. What's most important is how you often save regardless of its amount. So if you have only few bucks left from your salary, then continue saving it because once the value compounded, it will gradually become a significant amount. And frankly speaking, even the poorest of the poor can definitely save if he really aims to, it only depends on the kind of mindset you chose to adopt.

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

Not only about the inflation that hits them hard but also the obligation that they have to pay. Sometimes, an entire family is only relying to one breadwinner and that's why saving for them is hard.

And having a wrong mindset plays a part there why others are having a hard time in saving their own money. Because if they have the money ready with them, what they'll think of is what they should buy.

Instead of how much they should save, they're thinking of spending it already. Even before the salary comes, they have a budget of expenses before saving.

[bakasabo]

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

People can't still save if there was no inflation, people just want to keep spending without thinking about saving and that's the reason they find saving not easy to do. They have the wrong mindset about saving and this makes them to spend before saving hence it becomes hard for them to save. The correct way of saving is saving immediately you get your paycheck first before spending because when you're spending, you might overspend then it becomes difficult to save but when you have already saved, it won't affect you. This is the strategy that I have been using to save successfully and it worked. Saving helps alot but people still don't understand this. They always want to spend all their money and that isn't a good money management habit to have.

Or people dont know how to save, because they have never been in a situation, when they need more immediately due to having issues. Not a situation when they are short in money when they need to buy something, but when they are sick and treatment cost a lot, or they have lost job suddenly. When they have opportunity to borrow or to someone can help them, its one thing, but there are situation in life when you need to act immediately, and money (which they dont have) would have helped them significantly.

[lovesmayfamilis]

So if you have only few bucks left from your salary, then continue saving it ....

A question for the OP, and I'll quote: "A few dollars from your salary"-how much is that? If someone has a family and children, should they also save for them? You have the wrong idea about saving. You need to find additional income, not limit yourself or your family to the bare necessities. I'm sure many people here from certain countries won't follow your advice. Don't forget, by regularly skimping on the bare necessities, as your post points out, you're damaging your health, which will cost you much more to restore in the future. Therefore, find additional income and try to create passive income with it. Your extra money shouldn't sit idle; put it to good use, investing in real estate, Bitcoin, and so on.

[Alone055]

And frankly speaking, even the poorest of the poor can definitely save if he really aims to, it only depends on the kind of mindset you chose to adopt.

I totally disagree with this statement of yours, because I know people who barely make enough money to eat food twice a day, or at least eat enough to have their tummies full. Do you believe such people can save money, and it's their mindset that's not right for it? No, it's not the mindset that doesn't allow them to save money, but it's the lack of resources and earning opportunities that do. I'm not saying they are not at fault for not trying to make more money, but believe it or not, in most of the third-world countries, there are so many people who work so hard only to make enough money to get through the day.

I agree with @pooya87 for saying that those who have extra unnecessary expenses can save some money if they get rid of those expenses because those are not necessities, and one can always avoid things that don't fall under the necessary expenses. Smoking cigarettes, drinking alcohol, eating out every day when it is cheaper if you cook something at home, these are all things that could be managed or avoided and the money from them could go to savings, but, remember, those who do these things are the ones who can afford to do them, and they can't be called poor, maybe middle-class.

[maydna]

Consistency is needed when you want to save, in Bitcoin or in fiat. Many people difficult to do this because they feel that it is not easy to be consistent. Besides that, we need to allocate the money from our salaries so we can save as usual.

If you can manage your income, you will see how much free money you can use to be your savings. You can start with a small amount at first but after you know how much the free money, you can increase the amount and continue to savings. Besides that, you need discipline, consistency, and control to follow your target.

[Spaceman1000$]

Saving does not necessarily require us an instant big amount. Whether it's big or small, it does not actually matter. What's most important is how you often save regardless of its amount. So if you have only few bucks left from your salary, then continue saving it because once the value compounded, it will gradually become a significant amount. And frankly speaking, even the poorest of the poor can definitely save if he really aims to, it only depends on the kind of mindset you chose to adopt.

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

Saving comes with a lot of cost, while saving, you will have to make sure that you reduce things ordinarily you want to get, you must be selective in your priority and stay true to it for the period of time you've scheduled to save, because While saving, that is the period you might face a lot of challenges, so your mindset should be basically on your target 🎯.

You should also strive to build multiples streams of income so that inflation wouldn't come as a challenge especially towards your purchasing power and your quest to save, especially if your not working a high paying job.

[Yablee0]

Now my question is, why do a lot of people complain that saving is too hard for them?

You can only say saving money that will be later use for your future purpose is hard only when you as a person is not ready for it, because I know determination in life conquer everything.  Once your mind is made-up, you have seen every reason you need to keep money nobody will tell you, you your self will do the needful.

Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

Of a truth inflation it self has a negative way of affecting one's saving ability because when their is inflation the value of money fall automatically, if for instance you have been earning the some of $50 in a week to manage with your family then after sorting out all necessary bills and expenses you still have some left over cash that you may likely want to keep as your savings, but inflation can depreciate the value of that your $50 and that money might not even be enough to fix your weekly bills talk more of making savings out f it. So in ensence one's ability or chances in saving money in times of inflation is very tinny unless only the bold can make their way out of it.

[Lida93]

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

Pray you don't have to be faced with an unprepared problem that adds to your responsibilities which you can't shy away from, thereby making your expenses weigh beyond your income. Perhaps by then you may understand why some people are unable to really have savings, and not that it's always because of inflation.

Now my question is, why do a lot of people complain that saving is too hard for them? Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation? Or is it that people actually adopt the wrong mindset towards saving their money?

It depends on the person and their situation. There is no single answer to this. For example there are some people who have high unavoidable expenses, like those with a certain illness like cancer, diabetes, etc. that requires treatment that sometimes is expensive. Maybe they have a child that needs it, and so on.
These people, not only can't save up they sometimes have to borrow more money.

But generally speaking to save and improve one's net worth one should do two things: (1) increase income (2) decrease expenses.
We all waste money on something we don't have to. Some people have bad habits like smoking, drinking alcohol, etc. that are harmful to their health and giving that up would not only improve their health but also would leave some extra bucks in their pockets. That is the decreasing expenses part.
The other thing is obvious, people can take additional jobs to make some extra cash.

In the end, saving is only part of the equation. People need to invest their fiat into something that is considered store of value so that they can maybe even make profit. Something like gold or bitcoin.

There's this popular saying in my local parlance which states that "a person facing less or nono big responsibilities and is able to make savings will assume that he's good at saving and others without savings are not". The truth is that there are people bugged with lots of responsibilities they can't run away from and they have to face it as a man by nature and this makes them unable to save a penny whenever they receive pay.

I had a friend who dad got engulfed by fire accident earlier this year and was burnt badly, the hospital bills fell on this guy and week after weeks he had to pay for his dad hospital bills so he can be getting his treatment nonskipped. At same time he has some family needs waiting from kids school demands and so on. Out of empathy for all his troubles I had to give him some funds telling him to pay back when he can. Till now he has being able to pay back the full amount.

[Findingnemo]

Saving does not necessarily require us an instant big amount. Whether it's big or small, it does not actually matter. What's most important is how you often save regardless of its amount. So if you have only few bucks left from your salary, then continue saving it because once the value compounded, it will gradually become a significant amount. And frankly speaking, even the poorest of the poor can definitely save if he really aims to, it only depends on the kind of mindset you chose to adopt.

Saving a couple of bucks from your entire salary is not going to change anything so it's better just enjoy the few more bucks on whatever the guy wants to spend it. Saving is something a strategic and well planned and for that someone needs to be disciplined which is the reason why many can't able to save even if they can do it.