How to save successfully?

[Olatundespo]

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?

Most people cannot save because of their mindset. In my opinion, poverty is not the main obstacle to saving. A person earning less than me could save a certain amount every week but I could not save at that time and I can give many excuses for that but in reality my family has almost the same number of members as compared to the number of his family. If we can limit our daily expenses then the amount of discretionary income can increase but most of the time our expenses are more than our income. There will be inflationary pressure but you should set a limit on your income along with your expenses for future financial growth and set a budget so that you can save at the end of the week and gradually increase it.

[Judith87403]

Most people cannot save because of their mindset. In my opinion, poverty is not the main obstacle to saving. A person earning less than me could save a certain amount every week but I could not save at that time and I can give many excuses for that but in reality my family has almost the same number of members as compared to the number of his family. If we can limit our daily expenses then the amount of discretionary income can increase but most of the time our expenses are more than our income. There will be inflationary pressure but you should set a limit on your income along with your expenses for future financial growth and set a budget so that you can save at the end of the week and gradually increase it.

You're right saving does not necessarily mean that you will be working in a company that pay a huge amount of money just like you Said that someone whose monthly income is below your weekly or monthly income can still save More than you which is true, because he have the idea of making savings those that don't have the idea and also lack discipline don't easily save thier money talk more of holding it for long term because when they see something that look attractive to them they won't watch it slide instead they would want to temper thier savings so discipline plays a significant role in terms of making savings.

[Mehmet69]

Most people cannot save because of their mindset. In my opinion, poverty is not the main obstacle to saving. A person earning less than me could save a certain amount every week but I could not save at that time and I can give many excuses for that but in reality my family has almost the same number of members as compared to the number of his family. If we can limit our daily expenses then the amount of discretionary income can increase but most of the time our expenses are more than our income. There will be inflationary pressure but you should set a limit on your income along with your expenses for future financial growth and set a budget so that you can save at the end of the week and gradually increase it.

Yes, I agree with you. We don't have to be financially rich to save. It is important to plan like a wealthy businessman or investor. Only if we can control our financial flow properly can we earn a sensible income. Only if we have this sensible money can we start saving. So we need to learn to manage our money properly by reducing our household expenses.

[Versatile_choice]

Yes, I agree with you. We don't have to be financially rich to save. It is important to plan like a wealthy businessman or investor. Only if we can control our financial flow properly can we earn a sensible income. Only if we have this sensible money can we start saving. So we need to learn to manage our money properly by reducing our household expenses.

I agree to say that knowing how to manage our income is very important, because if you don't know how to manage your funds there's no way you can save a decent amount of money even though you have been making the savings for years yet it won't look as if you have spent years in making the savings as the amount of money you have in your savings will be very little compared to those that only save for 6 months. However before guys will attempt to make savings first thing first is to learn about management as this is the characteristics or sign that one can make savings.

[Popkon6]

Most people cannot save because of their mindset. In my opinion, poverty is not the main obstacle to saving. A person earning less than me could save a certain amount every week but I could not save at that time and I can give many excuses for that but in reality my family has almost the same number of members as compared to the number of his family. If we can limit our daily expenses then the amount of discretionary income can increase but most of the time our expenses are more than our income. There will be inflationary pressure but you should set a limit on your income along with your expenses for future financial growth and set a budget so that you can save at the end of the week and gradually increase it.

Yes, I agree with you. We don't have to be financially rich to save. It is important to plan like a wealthy businessman or investor. Only if we can control our financial flow properly can we earn a sensible income. Only if we have this sensible money can we start saving. So we need to learn to manage our money properly by reducing our household expenses.

Only by adopting strategies can we participate in savings, people who do not want to save are basically lazy and naturally spend more than what they earn. Only those who have the ability to take risks can save, saving is the most intelligent and people save money to live a better life and eliminate financial shortages in the future. However, you can also collect this savings in Bitcoin, if you can use a more advanced strategy, you can make more profit in Bitcoin. If you can deposit $ 1000, then of course, by investing in Bitcoin, you will have a much higher chance of becoming ten thousand dollars in five years.
Therefore, only if you can use strategies naturally, you can play a more advanced and sufficient role in eliminating financial shortages in the future. DCA method savings strategy and DCA method If you invest in Bitcoin according to the method, you will definitely be successful.

[Smartvirus]

Yes, I agree with you. We don't have to be financially rich to save. It is important to plan like a wealthy businessman or investor. Only if we can control our financial flow properly can we earn a sensible income. Only if we have this sensible money can we start saving. So we need to learn to manage our money properly by reducing our household expenses.

Rich or wealthy people don’t need to save, they rather invest most of their money in some profitable property or forms to investment. That’s largely due to the fact that, they have an understanding on how money works. Money when saved doesn’t yield any profit but, when it’s invested in some venture, it would be sure to bring you returns.

Most of the persons that save today do so in cases of emergencies and those who want to build capitals for some gainful investment. Even then, it’s not a bad idea to invest if you can spare yourself some funds.

[Jody.Drummer]

Yes, I agree with you. We don't have to be financially rich to save. It is important to plan like a wealthy businessman or investor. Only if we can control our financial flow properly can we earn a sensible income. Only if we have this sensible money can we start saving. So we need to learn to manage our money properly by reducing our household expenses.

Rich or wealthy people don’t need to save, they rather invest most of their money in some profitable property or forms to investment. That’s largely due to the fact that, they have an understanding on how money works. Money when saved doesn’t yield any profit but, when it’s invested in some venture, it would be sure to bring you returns.

Most of the persons that save today do so in cases of emergencies and those who want to build capitals for some gainful investment. Even then, it’s not a bad idea to invest if you can spare yourself some funds.

But not all investments will yield profits. Sometimes unexpected events can lead to losses, which can lead to losses. Investing is indeed a profitable activity for many wealthy individuals, and they do so with careful consideration, they wouldn't just do it haphazardly. Saving is also an important aspect of life, and an emergency fund is one such aspect.
If you have a reserve fund and a stable income, there's no harm in trying investing. Even if you don't have an interest, that's okay, as there are many other profitable avenues besides investing.

[MarjorieZimmermanGinger]

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?

Besides a wrong mindset, people also have difficulty earning money, which affects their previously planned savings. Saving has nothing to do with inflation, but rather how someone can consistently earn money each month. If they can't earn money consistently, it's impossible for them to save. Everyone needs money to support their family, and if they can't earn money, it's difficult to even save enough to meet their daily needs. If you want a better life, you need to continually increase your income so you can save, invest, and build a business.

[Pi-network314159]

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.

I agree with all you have said to the user Questat, a person who hasn't face a serious challenge in life will feel like others are wayward or that they don't know how to properly utilize money. I am a typical example, when I was working in a company that my salary was not enough that I have to manage it and I have a lot of bills yo pay, I was leaving a life of borrow and pay till I get over it. At that point those that I borrowed money from think that I lack money management but didn't know that my responsibility was beyond my salary and they are not in my shoes because their salary was 5 times than mine and they didn't have much responsibility. But do you know how I escaped it? It was when I got a job that pays me almost like 6 times or 7 of my previous job that I was able to balance up and was able to save and feed my family without taken loan. As a matter of fact I was the one even given loan to others and those that I took loan from now can't manage any longer and they begin to take loan and told me that life is not easy. So sometimes our present condition is the reason why we can't save.

[bubilas]

Yes, I agree with you. We don't have to be financially rich to save. It is important to plan like a wealthy businessman or investor. Only if we can control our financial flow properly can we earn a sensible income. Only if we have this sensible money can we start saving. So we need to learn to manage our money properly by reducing our household expenses.

I agree to say that knowing how to manage our income is very important, because if you don't know how to manage your funds there's no way you can save a decent amount of money even though you have been making the savings for years yet it won't look as if you have spent years in making the savings as the amount of money you have in your savings will be very little compared to those that only save for 6 months. However before guys will attempt to make savings first thing first is to learn about management as this is the characteristics or sign that one can make savings.

I've always been amazed that many people have worked their entire lives, yet they've always seen money as something they can spend. And I get the feeling they're always trying to spend it as quickly as possible. But what's the point? Money is a tool, like a fishing rod.
Yes, ee can burn it in a fire, but why bother? It's much better to fish and do it for years. It's a very simple comparison, but it's effective because everyone needs to learn how to use money to earn even more money. And regular savings are just the first step in this process.

[GigaBit]

Yes, I agree with you. We don't have to be financially rich to save. It is important to plan like a wealthy businessman or investor. Only if we can control our financial flow properly can we earn a sensible income. Only if we have this sensible money can we start saving. So we need to learn to manage our money properly by reducing our household expenses.

I agree to say that knowing how to manage our income is very important, because if you don't know how to manage your funds there's no way you can save a decent amount of money even though you have been making the savings for years yet it won't look as if you have spent years in making the savings as the amount of money you have in your savings will be very little compared to those that only save for 6 months. However before guys will attempt to make savings first thing first is to learn about management as this is the characteristics or sign that one can make savings.

I've always been amazed that many people have worked their entire lives, yet they've always seen money as something they can spend. And I get the feeling they're always trying to spend it as quickly as possible. But what's the point? Money is a tool, like a fishing rod.
Yes, ee can burn it in a fire, but why bother? It's much better to fish and do it for years. It's a very simple comparison, but it's effective because everyone needs to learn how to use money to earn even more money. And regular savings are just the first step in this process.

If money is spent only after earning it, then when the earner gets tired after earning for a long time, he will have nothing with him. Moreover, no matter how a person earns money, he will not be able to do it for his entire life. Therefore, the habit of saving money at the right time should be developed. The one who has money is the most respected person, and the one who spends money gets temporary pleasure, but in the long run, he does not get any benefit. If money is used as a tool instead of just a means of spending, then it will benefit him for the rest of his life.

[o48o]

Most people cannot save because of their mindset. In my opinion, poverty is not the main obstacle to saving. A person earning less than me could save a certain amount every week but I could not save at that time and I can give many excuses for that but in reality my family has almost the same number of members as compared to the number of his family. If we can limit our daily expenses then the amount of discretionary income can increase but most of the time our expenses are more than our income. There will be inflationary pressure but you should set a limit on your income along with your expenses for future financial growth and set a budget so that you can save at the end of the week and gradually increase it.

Imho saving money is essential, and should be possibility even for people under middle class. But saying things like "it's about mindset" comes of a little patronizing. I am not saying every poor people can handle their money, but they likely are already more familiar using a stricter budgets then middle class for example, as it's the only option to stay alive and feed their families.

So they are likely well aware about the concepts like buffer money. But because of the current inflation happening near everywhere, taking next step and having something to save, is way harder for poor people do do that without facing serious health risks.

[Queen uloma]

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.

You're right,many people can't save because they see saving as something that's every hard not necessarily Because of inflation because of their mindset or financial habits, as we know that inflation make the value of money decrease Over night but the issue is how people value and prioritize saving,
Some people think that saving is only possible when you have alot left over, saving shouldn't just happened when you feel so but it should be part of ones life,it's not about how much you earn but it's about what you do with what you earn , whether small or big,when you're consistent a little amount can grow into something meaningful or big through being focus and discipline,
Many people live beyond their means trying to live the kind of lifestyle surrounding them, instead of budgeting on what they have,when Too much expenses matches with income saving because more impossible
In all inflation makes things difficult but it can't make saving impossible,it lies on developing a saving mindset

[Unknown Op]

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.

You're right,many people can't save because they see saving as something that's every hard not necessarily Because of inflation because of their mindset or financial habits, as we know that inflation make the value of money decrease Over night but the issue is how people value and prioritize saving,
Some people think that saving is only possible when you have alot left over, saving shouldn't just happened when you feel so but it should be part of ones life,it's not about how much you earn but it's about what you do with what you earn , whether small or big,when you're consistent a little amount can grow into something meaningful or big through being focus and discipline,
Many people live beyond their means trying to live the kind of lifestyle surrounding them, instead of budgeting on what they have,when Too much expenses matches with income saving because more impossible
In all inflation makes things difficult but it can't make saving impossible,it lies on developing a saving mindset

Right because millions of people always try to get a lottery ticket to be rich in life  and 99 percent of these people are not rich because by lottery ticket if you became rich , after few months you will be poor person of your town and you will be on the road to beg from other people. If you have mindset of making money and saving at least 30 percent of your salary then you will do best in bad time .There are people who don't want to save money because they are rich people of their town and people always apply more bills on that because they know that they are rich people but poor always should do work hard and save more money and Invest that money.

[imthegreat]

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?

Besides a wrong mindset, people also have difficulty earning money, which affects their previously planned savings. Saving has nothing to do with inflation, but rather how someone can consistently earn money each month. If they can't earn money consistently, it's impossible for them to save. Everyone needs money to support their family, and if they can't earn money, it's difficult to even save enough to meet their daily needs. If you want a better life, you need to continually increase your income so you can save, invest, and build a business.

Inflation undoubtedly impacts our savings, constantly devaluing them. Therefore, we must seek out as many sources of income as possible to be prepared for any crisis or unexpected expense. After all, life can be full of unexpected consequences, requiring a large sum of money to avoid huge problems here and now. But few people understand this, preferring to live in the present.

[DiMarxist]

Inflation undoubtedly impacts our savings, constantly devaluing them.

Inflation quietly eats away at the value of our money over time. What we can buy today with a certain amount might be impossible to buy with the same amount a year from now. That is why just saving money in a bank account is not enough anymore. We need to look for ways to grow our money through investments and side hustles, or even assets that appreciate over time.

[9ja Amaka]

The most important thing to enable you save successfully is when you have a steady income, because it's not possible for you to save when you don't have a steady income. Steady income helps you to allocate your money to what want you want to use it for, so you know what you are will use to run your daily expense, savings, emergency funds etc.
It's also important to note that your income don't have to be very big, but if you have the right plan you will be able to make little savings from your income. Savings is very important to every individual, because it's helps you grow. You can have savings if you are planning to start an investment or business.

[Bluedrem]

The most important thing to enable you save successfully is when you have a steady income, because it's not possible for you to save when you don't have a steady income. Steady income helps you to allocate your money to what want you want to use it for, so you know what you are will use to run your daily expense, savings, emergency funds etc.
It's also important to note that your income don't have to be very big, but if you have the right plan you will be able to make little savings from your income. Savings is very important to every individual, because it's helps you grow. You can have savings if you are planning to start an investment or business.

Saving requires discretionary income, not stability. Many people have no money left at the end of the month because their stable income and basic needs are equal, so they cannot save. A person can save only when they have discretionary income. Discretionary income is the prerequisite for saving. For example, suppose a person has a monthly income of $4,000 and his basic needs are $4,000, then how will that person save? But if a person has a monthly income of $4,000 and his basic needs are less than $3,000 or $4,000, then he can save the remaining money. So I would say that saving requires discretionary income, not stable income.

[Bitco55]

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?

I think it all just comes down to discipline. Nothing good is easy to accomplish or do. One has to work on themselves. Saving is hard for everyone and especially for those who can't even save when there's no inflation. Same thing applies to other aspects of life. Cleaning and organizing is difficult for people even when the room isn't that disorganized won't clean up. Working-out is difficult for alot of people, so is studying, maintaining relationships, reading, and so on.  The funny fact is, it's not like people don't know the advantages of these things, but, discipline, is what makes you carry them out, it's what makes you do it stick to it. I can save now and still spend it by the end of week cause I have no discipline for keeping money.
.
 So, I think that's just it. Lack of discipline. Thinking you'll save when you have more, or when the inflation rates are lower is just some fallacy we tell ourselves cause we lack the discipline to save. Trust me, if you can't save when you earn little, you won't save a dime when you're earning alot.

[Chilwell]

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?

Besides a wrong mindset, people also have difficulty earning money, which affects their previously planned savings. Saving has nothing to do with inflation, but rather how someone can consistently earn money each month. If they can't earn money consistently, it's impossible for them to save. Everyone needs money to support their family, and if they can't earn money, it's difficult to even save enough to meet their daily needs. If you want a better life, you need to continually increase your income so you can save, invest, and build a business.

It only takes few people to save successfully because majority of people fall under the middle class, and what middle class always have the capacity of doing is to feed well and cloth well, they don't have any money to save that is why anytime they make an attempt to save they always find it difficult because they don't have enough to cover all their needs. Before someone is capable of saving successfully it means they have to have enough, because when it is not enough and you save it, you will definitely be the one to take it out. That is why many people fail to save.