How to save successfully?

[Powerjumboo]

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?

In fact, people have the wrong mindset towards saving their money, due to which people are behind in saving. If people want, then people can achieve a lot through small savings. We never think about our future, we are staying away from saving because we do not think about our future. But if we move forward by saving small amounts, then in the future this savings will become our most valuable asset. If we can save a small amount of money from our own daily expenses and invest it in coins like Bitcoin or in good places, then in that case, that savings will bring us a lot of success in our future, but we never imagine it, without imagining it, we are moving as we want. Let us all establish ourselves first and from what we earn, we must save some amount so that that savings plays an important role in us someday.

[Cheema02]

To my knowledge those who don't have enough income to meet their basic needs are the ones who complain about creating savings and find it difficult. Moreover it's correct that the high cost of living and unexpected expenses, as well as the urge to meet the needs of a family, can be a major obstacle to saving for many. But perhaps you need to know how to overcome these obstacles because if you spend it properly and keep track of it, even it is  possible to overcome this obstacle by depositing small amounts of money instead of depositing a large amount. Even I think that the economic situation may play a good role in saving because it is often seen that this task can be more challenging when inflation increases and the prices of daily goods increase.

People who try to save money has to face many challenges  especially those who has limited income. It looks that saving is impossible for those people if they meet basic needs and manage unexpected expenses. But your suggestion to save small amounts regularly is very consistent and even moderate savings can add up over time and create a financial cushion. They should track their expenses and budget carefully to be aware of their spending habits and at the end they can add or remove certain things to save money. But in this expensive environment its very difficult to save money so people have to be adaptive to changing economic conditions. Saving needs both discipline and the understanding of economic context.

[Fortify]

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?

It sounds really simple but it usually just comes down to two simple factors. The first is not earning enough money, which it usually true for people who are near minimum wage while maybe living as a single person that increases bills that might be split in a couple. The second is spending more than you're earning on a regular basis, which either leads you to break even every month or slowly descend into debt which becomes harder to escape. When you have gotten into debt it becomes very sticky and can trap you, unless you start to budget properly. Things like inflation do creep on us every year and while it is noticeable we can mitigate it slightly by being more careful with spending and potentially trading downwards on products.

[ShowOff]

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People who try to save money has to face many challenges  especially those who has limited income. It looks that saving is impossible for those people if they meet basic needs and manage unexpected expenses. But your suggestion to save small amounts regularly is very consistent and even moderate savings can add up over time and create a financial cushion. They should track their expenses and budget carefully to be aware of their spending habits and at the end they can add or remove certain things to save money. But in this expensive environment its very difficult to save money so people have to be adaptive to changing economic conditions. Saving needs both discipline and the understanding of economic context.

If someone has only one source of income, I think saving consistently is clearly very difficult. Therefore, in order to build savings, everyone should strive to have more than one source of income, the key is not just to focus on limiting monthly expenses. Sometimes, even after managing expenses well, there is no leftover budget to save.

Almost all goods are experiencing price increases at the moment, yet those with fixed jobs are not receiving salary raises to match. Therefore, in my opinion, everyone needs excellent time management right now in order to learn new skills that can ultimately increase their monthly income. For those who currently have sufficient savings, try to learn how to invest them in the form of assets, that is the way to obtain real profits in the future.

[Curious T]

I don't agree that the amount you're saving doesn't matter; it does. Saving $10 every month for a year is just $120. Except you're saving the whole year to afford groceries or just buy food, I don't see the point in that.

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.

Disagree again. Emphasis on the poorest of the poor. Do you have any idea what that means? That means within the poor, they are the poorest. Are they even guaranteed two square meals before you can talk about an income? Do not talk about things you do not understand.

[Questat]

I don't agree that the amount you're saving doesn't matter; it does. Saving $10 every month for a year is just $120. Except you're saving the whole year to afford groceries or just buy food, I don't see the point in that.

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.

Disagree again. Emphasis on the poorest of the poor. Do you have any idea what that means? That means within the poor, they are the poorest. Are they even guaranteed two square meals before you can talk about an income? Do not talk about things you do not understand.

This is the reason why people fail in every saving attempts because they always consider what will be the whole total amount of their savings within a month, a year or a decade. Just to make a clarification, there’s no required amount when it comes to starting to save, you can always save irregardless of the amount, the important thing is, you are definitely motivated to save consistently.

Now if you think in general that poor people aren’t capable to save, believe me you are wrong there. In fact, they still have savings but just a small amount, compared to those filthy rich who have definitely huge amount of total savings.

What we are talking here is how to save successfully, and that will only be possible if you take time to save most often. We aren’t talking here that saving requires a significant amount for you to save successfully and profitably.

[NurseHub]

I don't agree that the amount you're saving doesn't matter; it does. Saving $10 every month for a year is just $120. Except you're saving the whole year to afford groceries or just buy food, I don't see the point in that.

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.

Disagree again. Emphasis on the poorest of the poor. Do you have any idea what that means? That means within the poor, they are the poorest. Are they even guaranteed two square meals before you can talk about an income? Do not talk about things you do not understand.

I agree with you that everything matters, how much you save, the way you save it and what you plan to save for, all matters and none should be undermined. 

Also for the poorest of the poor is like in the class of poor people one is poor which in global definition means one is living below a dollar bill in 24 hours, that means they can't even afford food or they depend on begging or government provision.

[Nothingtodo]

Saving may be important for those with large amounts of money, but for those with jobs that pay less, saving is even more important. If they balance their income and expenses properly and save a certain amount of money at the end of the month, they will definitely be able to do something in the future. If they invest that money in Bitcoin or start a small part-time business alongside their job, they will definitely be successful.

[Adams0001]

Saving may be important for those with large amounts of money, but for those with jobs that pay less, saving is even more important. If they balance their income and expenses properly and save a certain amount of money at the end of the month, they will definitely be able to do something in the future. If they invest that money in Bitcoin or start a small part-time business alongside their job, they will definitely be successful.

Saving is difficult for people that are struggling to pay there bills, Saving is very important but not everyone can be a saver, because not everyone is capable of doing that the rich people have the opportunity to save and anytime  emergency comes for them they can used the funds and cover up immediately without too much stress but people that can't save always strongly. and that can of people you won't see they are investing or doing business they just depend on there jobs, anytime the salary comes they calculate everything they will used for that month and that is all. they will be expecting for another next month they don't have the huge amount that they can save for emergency or for investment

Is only few people can manage there funds and able to be Saving it and rich people always be the best of Saving and do anything they want, and you will see them always have more advantages of investing and be getting a huge profit because they will connect with others people through there funds to be solving there issues and get opportunity to invest in different things or business and that is the reason why others that don't really understand Bitcoin will think bitcoin is for the rich people doesn't know that anyone that have the funds can invest without to much worry and get profit for the long term.

[Different patterns]

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?

The reason why some people find it very difficult to save money is for many reasons often intertwined with psychological, economic, and lifestyle factors. The major factor is that the pressure of spending money that you don't have before will make you forget the whole benefit of saving. The moment you are satisfied with all your needs, you realise later and make arrangements for future income, which is if you have it, because money can be saved when you have a really reliable source, which is steady income.

Economic conditions also play an important role when it comes to saving because low income and high living, and also unexpected expenses, you don't even expect them, and they appear –can make it hard to save, especially for people with limited resources.

Lifestyle choices and also financial habits: some people choose to live a very expensive life, which can also contribute to the difficulty of saving. A poor budget and a lack of financial education can also lead to unnecessary spending and also a lack of awareness of not knowing where money is going. Without any clear financial plan or goals, all this can make it easy to let saving fall.

[moneystery]

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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?

Everyone faces their own challenges when it comes to saving money. This could be because they need to provide for their parents, they live an overly extravagant lifestyle, or because they can't manage their finances. So, it's understandable that some people complain about not being able to save. There's definitely something preventing them from doing so.
However, I believe that if someone is serious about saving and manages their finances effectively, there's nothing stopping them from saving. Regardless of the amount, it's important for someone to consider saving because they never know when they might need cash quickly, and saving can be a lifesaver. It all comes down to whether they truly want to save or not.

[MykeAdams]

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?

They key to save successfully despite high economic inflation is not just saving cash, but rather protecting and growing value. When I mean growing value, instead of just saving money in the bank for the sake of future use while not channel that savings into assets that can appreciate and increase faster like land, rental properties, stocks and crypto etc which brings about gains and more savings. Actually for one to totally rely on ones salary makes inflation harder, so I advise onevto add up a side hustle or investments to maintain the balance. The best inflation strategy is trade, finance and tech, these are skills which can increase earnings and one to have more than just saving successfully.

[iv4n]

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?

They key to save successfully despite high economic inflation is not just saving cash, but rather protecting and growing value. When I mean growing value, instead of just saving money in the bank for the sake of future use while not channel that savings into assets that can appreciate and increase faster like land, rental properties, stocks and crypto etc which brings about gains and more savings. Actually for one to totally rely on ones salary makes inflation harder, so I advise onevto add up a side hustle or investments to maintain the balance. The best inflation strategy is trade, finance and tech, these are skills which can increase earnings and one to have more than just saving successfully.

Nice comment. Basically, when inflation rises, money loses value. So people should look for assets that tend to hold or increase in value during inflationary periods... and I guess we can say we are constantly trapped in that period.

There are good assets, and some of them require a lower and some a higher entry fee. We can't start investing in some real estate-related business with $1k... It's even funny to think about it. But I guess anyone can buy some coins with that amount, or some gold... anything that will hold its value or maybe even raise it. People just need to remember a few things... One of them is that there's always risk, but the more profit someone wishes to make, the bigger the risk.

[bakasabo]

For me it will be interesting to read, how many people really think of saving money. Both for long term or for short term expenses. I notice a lot, that people live from salary to salary and not because they dont have enough, but because they want to spend money all the time. And not only young people live like that. People who are in age, or that will retire in 10 years, also dont think a lot about saving. Do they expect to have large pension and live only on those money? I dont think that is a smart idea.

[Judith87403]

I don't agree that the amount you're saving doesn't matter; it does. Saving $10 every month for a year is just $120. Except you're saving the whole year to afford groceries or just buy food, I don't see the point in that.

I think you're getting it wrong here,op is referring to those that doesn't have a stable source of income or maybe those who are into side hustle you know thier income is not  that big compared to those who are working in a company or business owners. those who are working in a company can get enough money to pay for thier expenses and still have enough leftover which they can use to save or Invest into other business, but if you're this type that depend on side hustle sometimes the money you will make can only cover your expenses without having any leftover so if you find yourself in such situation then you will have to reduce your expenses maybe you can only choose to go for the Basic necessity to enable you have some leftover that you can put in your savings, it doesn't matter how small it is rather your consistency is what matters.

[m2017]

Saving does not necessarily require us an instant big amount. Whether it's big or small, it does not actually matter.

This is of great importance. Anyone with small savings feels uncomfortable and insecure, while those with large savings feel the opposite.

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.

There we go again. How can you claim that the amount you save doesn't matter? If you save $10 every month, for example, it would take 1,000 months, or 83 years, to reach $10,000. But if you save $100, it would be 8.3 years. The difference is significant, and human lifespans are finite.

Saving a few bucks a month will NEVER amount to a significant amount. You simply won't have the lifespan to accumulate anything significant.

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.

Anyone can save: both rich and poor, but the rate of savings will directly depend on the standard of living.

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

Because they spend too much, on things they could do without. As income levels rise, people's needs increase, because having reached a new financial level, their overall consumption increases (they can afford things they couldn't before).

Well reality hits that inflation is inevitable, but does it mean that people can only save if there is no longer inflation?

Inflation affects money. So, save your money in other assets that aren't susceptible to inflation.

Or is it that people actually adopt the wrong mindset towards saving their money?

I think people often don't take savings seriously at all. They don't even try.

[Promocodeudo]

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.

I have come to realize that people are facing different challenges at this time that the world economy is crumbling, in has not been easy with people, if MR A is not facing any much pressure may be he doesn't have much responsibilities he shouldn't be expecting MR B to have the same level of investment with him because things might not be as easy as he thinks for MR B so that he can save or invest freely, yea savings and investing in valuable assets is very important for the future, I also understand that people are full of excuses even though they can invest in valuable assets like Bitcoin gradually with what they can afford instead they keep coming up with different excuse but I have also understand that many people facing difficulties even the amount that come to their pocket will not be able to solve all their problems.

The only problem I have with some people is that they don't differentiate between necessity and expenses that can come later, the just spend na spend without considering investing in valuables assets future the future, people should understand that fiat power will keep going down because of inflation so the best option should be seeking for alternatives to make your wealth be it little or big to have values and how do we do that, is by investing in long-term profit oriented assets that grows your money into something unimaginable in the future although it will also depend on your consistent investment in such assets and it should be trusted asset like Bitcoin but if we are facing financial challenges we can tackle them after all hands are not equal financially but we should not forget to invest little, as my locality will always say e get why.

[TheUltraElite]

If they are providing for many people in the same family, it will be tough for them to save. If not then they can save depending on their expenses. Expenses are often big and not reducible like living costs, meal costs and electricity bills, fuel costs. Beyond this, anything else can be reduced to as low as possible. Subscription type stuff can be reduced to minimal.

Beyond this you have to use investments to cover costs once they are running for years and generating interest.

It is tough, and till you get a decent earning job it will be tough. Always be on the lookout of how you can utilize your skills and never stop learning new skills so that you can increase your job choices.

[Shafique Baba]

In my opinions while finding the ways to earn money is important, thinking about how to save money is equally essential. Saving does not mean setting aside  huge amount. It's a habit of keeping consistently a small amount a side. By doing multiple job everyone can save a little amount . It is very difficult to save money with one source of income. Without saving it is  hard to achieve your dream or handle the emergency.
I understand that many middle class families struggle with the idea of saving. But I believe they should look the ways to save their miney or meet their expenses. There is no space for blame, in the era of inflation each member of the family  need to contribute financially.

The key lies in financial management, but we acknowledge that saving money without a steady income is very difficult in this day and age. A steady income is sometimes only enough to cover monthly expenses, so it's understandable why some people don't have savings or any investment assets.
Making an effort to find additional sources of income is the best solution so that we can have savings, which can serve as an emergency fund or be invested. Although this approach may not lead us to complete financial freedom, I think it can at least allow us to live comfortably and be well provided for in the future.

Economical condition of a country determine the income level or saving level of thier citizens. The economical  stability ultimately lead the increase in saving and income. Employees can get enough income with single job to maintain the standard life. Fluctuations in monetry policy affect  adversly. In Instable economic condition, citizens have to do more than one job to fulfill their financial need. Fluctuations in monetry policy or inflation affect middle class or lower middle class badly. My Conlusive point, strong  economic lead rais in income and saving while instability reduce them.

[Emjay24]

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.

I do not like the Idea of people being the sole provider of their family for a longer period of time, If I was the person in question I would mandate all my siblings to learn a craft for at least 2 years before they go to college so they can fend for themselves in their own little ways while I only support them. The world has grown above total dependency, it cripples someone's finances and ensures you do not grow.

My parents I opened a business they do at home and I support them with minimal things now and not entirely being responsible for their total well being since they realize some profits from the home business and If I have more money before the year runs out I would add another for them. I have this principle of settling everyone so I can breath some fresh air.