How to save successfully?

[jaberwock]

If you can do smart budgeting, then saving becomes a lot easier. First of all, some people realize even if they live a very conservative cheap life, they still do not make enough to live, and in that case the only solution is to find a job that pays more and until you find that you are not going to get a better return.

Secondly, if you do make enough, then you are going to budget carefully, life will be horrible, but if you can even live just 2 years without any "fun" then you will be fine for rest of your life.

I mean wake up, no coffee, no fun, no good breakfast, something as simple as our meal and milk, go to work, work there, in most cases companies provide food like lunch, drink water and coffee that is free there, then come home, eat a cheap meal, like rice, pasta, anything like that, have no subscriptions, no expenses, no spending.

If this is our ALL costs, just oatmeal and cheap dinner? Then I guarantee you that you are going to save incredible amount in 2 years. I know that sounds like a horrible life, I know, I am aware, but that is how you get super rich in 2 years because if you save 50%+ in those 2 years, then investing will become so much easier.

[slapper]

If you can do smart budgeting, then saving becomes a lot easier. First of all, some people realize even if they live a very conservative cheap life, they still do not make enough to live, and in that case the only solution is to find a job that pays more and until you find that you are not going to get a better return.

Secondly, if you do make enough, then you are going to budget carefully, life will be horrible, but if you can even live just 2 years without any "fun" then you will be fine for rest of your life.

I mean wake up, no coffee, no fun, no good breakfast, something as simple as our meal and milk, go to work, work there, in most cases companies provide food like lunch, drink water and coffee that is free there, then come home, eat a cheap meal, like rice, pasta, anything like that, have no subscriptions, no expenses, no spending.

If this is our ALL costs, just oatmeal and cheap dinner? Then I guarantee you that you are going to save incredible amount in 2 years. I know that sounds like a horrible life, I know, I am aware, but that is how you get super rich in 2 years because if you save 50%+ in those 2 years, then investing will become so much easier.

The reasoning is clear - cut it, keep it, invest the difference. But you've glossed over the fact that humans are not optimization machines and treating yourself like one is an expensive way to create damage downstream. So two years of no happiness, will not make you rich.It makes you a person who has forgotten why wealth is important. I know people who did this. Once they struck their targets, they could not stop. The stinginess became character. They are sitting on investment portfolios and yet they are buying the cheapest toilet paper and are feeling guilty about ordering appetizers. The scarcity mindset does not dissipate simply because the scarcity ceased to exist

And when you can save half of your income, you are winning. The median worker cannot. They are not failing in discipline. They are failing to have been born into the right income bracket. Your plan would be counselling the already-comfortable into being very comfortable and pretending to be poor. Most people automatically raise spending to match their income. Interrupt that pattern, sure. But it is not necessary to punish yourself because of the interruption. It involves paying attention to what you really appreciate and not what you purchase because everyone else is buying it

[bubilas]

While it's easy for single men to save, it's extremely difficult for those with families. They need to keep their wives in check, and women always try to spend every penny they've just earned.
This is extremely difficult, because such a man bears the responsibility of both earning and saving. And if someone is starting a family, they must be prepared for it. In reality, few are, and that's why divorce statistics are so dismal.

[Fredomago]

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 is a good and very good thing for your financial security, and I don't think there is anything to complain even though we know that there is inflation, your argument is completely true, but facing inlfation, of course we have a way to fight, there are bitcoin and gold as alternative saving.

To be honest if someone wants to save money then don't be many reasons, do it consistently even though it is small, but with time we will find the results, there is no reason for those who want to save, and surely it can be with any way.

Yeah, even how small the amount if you practice to keep doing it each time you have the chance, it will bring you decent outcome.
Especially if you are not just saving it but also doing diversions of investing your money, those who loves exploring and taking the risk are most of the time find suitable ways to grow their money.

Though it's not as easy as it is, but if you seek for it there's always a potential that you may find decent success.

[doomloop]

Savings might be really hard for some people if they have a very limited earning sources and are already maxed out on the expenses. They will have to fulfil their expenditure first before they can even start thinking about savings. Savings is really very important but without a stable of decent payroll, this only remains as a wish which never comes through. Usually middle or lower class families end up with no savings as they already have a lot of expenses which needs to be catered first.

Rich people will have tons of savings because they already have fulfilled all of their necessities and also luxuries so now they have ample of resources to save. Savings will never be the same for everyone.

[BTC FutureKing]

While it's easy for single men to save, it's extremely difficult for those with families. They need to keep their wives in check, and women always try to spend every penny they've just earned.
This is extremely difficult, because such a man bears the responsibility of both earning and saving. And if someone is starting a family, they must be prepared for it. In reality, few are, and that's why divorce statistics are so dismal.

Obviously, when a person has to save money, it becomes easier for him to control his expenses, and when a group has to save money, it is actually not in the power of any one person to bear the expenses and also add money for his family. Wives who know that if we spend, it will be a loss or a benefit for us, they automatically realize it and those who do not do it, they cannot bear it even if they control it. This is absolutely true and this is the reason why they prove people wrong in today's era and wives who have to live on less expenses do it, that is why problems arise on both sides in life.

[Kaliandra]

In my opinion, not everyone can save money because, of course, everyone has different lives and different needs. There are even many people who work all the time but cannot make ends meet with the wages they receive each month or each week, which ultimately prevents them from saving money.
However, most people can save money, but for a few people, there are those who cannot save money, which does not mean they are not interested in saving but because of circumstances and necessity that prevent them from saving.

In my opinion, the key to successful saving is having a large salary and expenses that are not as high as the salary, so that we can save. Most people who are able to save do so because they have a large salary and few expenses. Saving is a good thing, and of course we need to save because if we have savings, we can withdraw them when we need them. Yes, even though saving money will inevitably be affected by inflation, having savings is still a good thing because it's better than having no savings at all.

[HONDACD125]

While it's easy for single men to save, it's extremely difficult for those with families. They need to keep their wives in check, and women always try to spend every penny they've just earned.
This is extremely difficult, because such a man bears the responsibility of both earning and saving. And if someone is starting a family, they must be prepared for it. In reality, few are, and that's why divorce statistics are so dismal.

Well, even though you're right, I think there can be workarounds for that. I'm generally totally against dishonesty in relationships, but at certain points, and in certain relationships, you don't always have to share every single thing with the other person, in this case, your wife or partner. If you are making money that you know is more than enough, which means that you know some of the money you are making will remain even after you cover every expense, every bill, and all other stuff that require financial attention, you should save that money without disclosing this to your partner.

To be totally honest, relationships these days are not as strong as they used to be in the past. You can't think that you are going to stay in a relationship for your whole life, because that might not happen, especially if neither of you understand each other or have similar thoughts and mindsets. That's why, it's important for you to at least have some security for bad times.

[Antotena]

While it's easy for single men to save, it's extremely difficult for those with families. They need to keep their wives in check, and women always try to spend every penny they've just earned.
This is extremely difficult, because such a man bears the responsibility of both earning and saving. And if someone is starting a family, they must be prepared for it. In reality, few are, and that's why divorce statistics are so dismal.

It's easy to save money but the condition is you must have more source of income than what you are.going to be spending on your kids. If as a family man you earn 100% of your income as salary and your family only take 30% after all the expenses you can think of then that means you are left with 70% of the rest of the salary. You can plan your life with the rest of the money, you can even take some from there as an emergency funds and you still be fine.

However, if you earn a small amount the condition is going to be difficult and different. If you earn 100% of your income as salary and your family takes 80% as manage, it's not even enough, they use it to manage the house and you are left with 20%, you are probably going to be feeling the heat befofe the month end. This is why most of the time people live on debt to debt to survive the next day because the money earned isn't even enough to feed and live a simple life.

[Salahmu]

Obviously, when a person has to save money, it becomes easier for him to control his expenses, and when a group has to save money, it is actually not in the power of any one person to bear the expenses and also add money for his family. Wives who know that if we spend, it will be a loss or a benefit for us, they automatically realize it and those who do not do it, they cannot bear it even if they control it. This is absolutely true and this is the reason why they prove people wrong in today's era and wives who have to live on less expenses do it, that is why problems arise on both sides in life.

Excluding the risk in saving as a group and considering the temptation of disturbing the savings if only done by one person for those who are not good at saving money, we would see the group savings as the best option between this because nobody will be allowed to subtract any added money on the savings for anything no matter how critical it is so it will give them a good confident and psychology to only think about the money in a savings way. Although I don't fancy group thing that involves Putting money together because some persons love money to go any extent to have it so actually instead of going for the group one a person and his wife could actually do it because they have the main thing under there control which is the safety of the savings.

[Z_MBFM]

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 is not difficult. If you can manage your money properly, your expenses will be less and you will start saving automatically. But saving is not good. If you rush towards saving, you will not be able to achieve anything big. To get something big, you have to invest. But if your intention is to save, then you will never pay attention to investment. Because at that time, you will have extra care towards saving and you will think that you have been able to save, it means that you are gradually getting rich. But basically saving harms people. When you save fiat money, inflation will reduce the value of your money. So the strategy of successful investment is more beneficial than successful savings.

[Akbarkoe]

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 is a good and very good thing for your financial security, and I don't think there is anything to complain even though we know that there is inflation, your argument is completely true, but facing inlfation, of course we have a way to fight, there are bitcoin and gold as alternative saving.

To be honest if someone wants to save money then don't be many reasons, do it consistently even though it is small, but with time we will find the results, there is no reason for those who want to save, and surely it can be with any way.

Yeah, even how small the amount if you practice to keep doing it each time you have the chance, it will bring you decent outcome.
Especially if you are not just saving it but also doing diversions of investing your money, those who loves exploring and taking the risk are most of the time find suitable ways to grow their money.

Though it's not as easy as it is, but if you seek for it there's always a potential that you may find decent success.

For follow -up in the management of assets, I think it is some percentage of your savings if you are more than enough, what you suggest will be very useful, investment is important, but we must have a strong reserve fund because if at this stage we must also talk about the risks that will be received by us.

And it would be better to find additional income to increase cash flow so that our savings growth is fast.

[bitgolden]

I would say in todays world saving will not be possible with just working. If you have one job, and a worker at some company, saving is not that easy. If you are just starting out and at entry position then not only you will not save, but you will also end up losing money every month, it is not going to be enough. If you are a bit better, like junior level, then you are going to barely break even.

If you reach senior level, then you will start to make enough to save, and by that time you are 35+ years old. So I can tell you that this isn't going to be easy. This is why we need to be looking at this as a way to grow and if we can do that then we are going to end up with better approach to this situation, just earn more.

[Leahized]

Saving sole amount is not a difficult task but it tends to be so if the individual is not discipline enough to create such plans in achieving that. Another thing is some people spend above their salary range like they ain't that discipline when it comes to spending. There are different ways one can achieve a successful savings plans and it start by creating a budget and allocate a certain amount each week or month and hopefully you'll accumulate something tangible.

If you believe that a person who is not disciplined will never be able to save successfully. In this case I think it will not just take action through the discipline. Always work based on the current situation and stored accordingly. Suppose you do a job in a multinational company and get good salary. Then you have to divide a few steps first. And you have to spend accordingly. Although it is not always possible to save at the same rate. The reason for saying this is, I myself adopt this. And save some money. This is a productive for me, maybe not acceptable for others.

[Abiky]

While it's easy for single men to save, it's extremely difficult for those with families. They need to keep their wives in check, and women always try to spend every penny they've just earned.
This is extremely difficult, because such a man bears the responsibility of both earning and saving. And if someone is starting a family, they must be prepared for it. In reality, few are, and that's why divorce statistics are so dismal.

True. It's why most men stay single these days. With the rising cost of living, who's going to afford supporting a wife and kids? Inflation is out of control, despite central banks saying otherwise. Saving money is not enough to live a comfortable life in the long-term. That's why you should invest your money into scarce assets or profitable business ventures. It's the only way you can build true wealth.

Just work smarter, not harder. Some people can afford having 2 or more jobs. If you're one of them, you'd be on your way towards financial freedom. Assuming you spend your money wisely. Let's hope inflation cools down, for things to get back to normal.

[Ivystar5]

Rich people will have tons of savings because they already have fulfilled all of their necessities and also luxuries so now they have ample of resources to save. Savings will never be the same for everyone.

Yes definitely, it wouldn't be the same because pockets varies and as such the rich saves more because they have more to save than the poor but, the poor savings can get them to a state where they would be able to save more yet fitting their bills comfortably, it means that their is no equating power in savings but a posting efforts for the poor to reach a good standard than ever.

[Kaliandra]

Savings might be really hard for some people if they have a very limited earning sources and are already maxed out on the expenses. They will have to fulfil their expenditure first before they can even start thinking about savings. Savings is really very important but without a stable of decent payroll, this only remains as a wish which never comes through. Usually middle or lower class families end up with no savings as they already have a lot of expenses which needs to be catered first.

Rich people will have tons of savings because they already have fulfilled all of their necessities and also luxuries so now they have ample of resources to save. Savings will never be the same for everyone.

It's true, of course, saving isn't easy if our income and expenses aren't balanced. If our salary is, for example, $1000 and our expenses are, for example, $1200 it will certainly be difficult for us to save because our needs and expenses exceed our salary. That's why I'm not surprised that some people always borrow money from the bank because they're forced to do so.

It's true that it's very easy for rich people to save because they own many companies and their income exceeds their expenses. Therefore, rich people can save, and their savings are always large and substantial. So, the most important thing is to think of a good business strategy to save. But for those who are already saving, they need to increase their savings to make them even larger. Saving is indeed important because it makes it easier to meet urgent needs and other needs. However, I think it would be even better if we have savings and also invest in investments like gold and Bitcoin.

[junder]

Saving is not difficult. If you can manage your money properly, your expenses will be less and you will start saving automatically. But saving is not good. If you rush towards saving, you will not be able to achieve anything big. To get something big, you have to invest. But if your intention is to save, then you will never pay attention to investment. Because at that time, you will have extra care towards saving and you will think that you have been able to save, it means that you are gradually getting rich. But basically saving harms people. When you save fiat money, inflation will reduce the value of your money. So the strategy of successful investment is more beneficial than successful savings.

Everyone who has an income will certainly do the best with their finances, but there are some of them who are not like this, only using it for things that are not really that important, such as fulfilling desires rather than needs. Saving can be said to be easy, besides, parents certainly teach their children to save, but when we are in the adult phase or married, this will be different, sometimes income is only enough to meet needs, maybe even less, lucky for those who have a large income because it covers everything.

[fredericktaylor]

Saving is not difficult. If you can manage your money properly, your expenses will be less and you will start saving automatically. But saving is not good. If you rush towards saving, you will not be able to achieve anything big. To get something big, you have to invest. But if your intention is to save, then you will never pay attention to investment. Because at that time, you will have extra care towards saving and you will think that you have been able to save, it means that you are gradually getting rich. But basically saving harms people. When you save fiat money, inflation will reduce the value of your money. So the strategy of successful investment is more beneficial than successful savings.

Everyone who has an income will certainly do the best with their finances, but there are some of them who are not like this, only using it for things that are not really that important, such as fulfilling desires rather than needs. Saving can be said to be easy, besides, parents certainly teach their children to save, but when we are in the adult phase or married, this will be different, sometimes income is only enough to meet needs, maybe even less, lucky for those who have a large income because it covers everything.

You are right, to manage life well, besides fulfilling basic needs, many other needs arise, for this, earning money is very important, but even more important is to spend money properly, unnecessary spending is absolutely not right. They are not aware of their needs and expenses at all. Many people spend extra money to fulfill their dreams or desires. For some, it becomes extremely difficult to earn money, manage expenses, and save, while for others it is much easier because their income is much higher.

[Emitdama]

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.

That is alright though. No matter how bad our parents are, they are still our parents, so we should not fight with them. Also, can we afford to see our family starve or go onto some heavy problems because we choose our self first? That was a selfish move.

I'd rather not save at all but just do what I can to help them out. I know that my goodness can still get compensated in the future. It can also be, once my younger brothers have finished their studies and find a decent job. And then my father can still recover, so once he got back on his job, that should allow me to breathe a little.

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

Actually, you talk about all of them on that single post yours.