How to save successfully?

[Abiky]

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.

A year? It's even earlier than that. Especially with how fast inflation is rising. In the US, Trump's tariffs have exacerbated the problem. Other countries are faring worse, though. Reckless government spending has led us to the point where we are right now.

Saving and investing are a must these days. If you don't do it, you'd be a risk of getting bankrupt in the long run. While most people live paycheck to paycheck, that doesn't mean it's impossible to save. Setting aside a small amount of money for saving (or investing) would be a good start. Who knows? You might even become a wealthy person if you "stick" to the right strategy. Just spend less than what you earn, and there should be nothing to worry about.

[imthegreat]

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.

Why not? Income and savings are completely different things, and it's nice to know when you've made some money and saved on others in a month. For example, I recently decided not to repair my winter shoes but simply found all the weak spots in the soles and glued them on. I saved a ton of money because I didn't have to buy new expensive shoes. Prices are sky-high right now. I also managed to earn extra money from part-time jobs. So, I feel doubly pleased with myself. And everyone should strive for this approach: saving plus earning.

[Gaza13]

In order to save successfully one must spend less than they are earning. So basically if you want to save more you either have to cut spending or increase income. Without background information it is very hard to give concrete advice as both spendings and income are very tied to skills and affinities of each person individually.

Yes, there is no other way than what you have mentioned to overcome all of that. I think that adding this income will be much more effective and faster in increasing your savings. This allows you to build bigger money and achieve your desired goals such as investment or others. In saving wisely and effectively, everything requires discipline, planning, and good habits from ourselves.

[Fredomago]

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.

Why not? Income and savings are completely different things, and it's nice to know when you've made some money and saved on others in a month. For example, I recently decided not to repair my winter shoes but simply found all the weak spots in the soles and glued them on. I saved a ton of money because I didn't have to buy new expensive shoes. Prices are sky-high right now. I also managed to earn extra money from part-time jobs. So, I feel doubly pleased with myself. And everyone should strive for this approach: saving plus earning.

Exactly, saving plus extra earnings then save or invest that's a good combination that may allow you to save though in terms of investing, there are things that needed to consider before taking that route, but in terms of savings it's a good point that instead of buying new expensive things repairing will help as long as it's usable there's nothing to worry about it, and having extra part time time that also helps to save even more.

[fillippone]

To me, the best way of thinking about saving is relying on Power Laws. Every dollar I can save, and put in bitcoin, is going to be worth at least 10x in a few years time (let’s say a decade).
This is the biggest incentive I have in saving. 

[mvdheuvel1983]

To me, the best way of thinking about saving is relying on Power Laws. Every dollar I can save, and put in bitcoin, is going to be worth at least 10x in a few years time (let’s say a decade).
This is the biggest incentive I have in saving. 

This is a great idea and the best way to save for a strong and well determined person bitcoin believer who is interested in having what the future will bring in time to come having every penny meant for saving in bitcoin for that long period is not going to be easy but the idea is cool. Will be doing some calculations to know where to cut down some daily $1 to invest it's not going to be bad if any one does it consistently for a decade as you have said, good word for me today.

[fruktik]

Why not? Income and savings are completely different things, and it's nice to know when you've made some money and saved on others in a month. For example, I recently decided not to repair my winter shoes but simply found all the weak spots in the soles and glued them on. I saved a ton of money because I didn't have to buy new expensive shoes. Prices are sky-high right now. I also managed to earn extra money from part-time jobs. So, I feel doubly pleased with myself. And everyone should strive for this approach: saving plus earning.

If I were you, I wouldn't skimp on winter shoes. It's better to buy high-quality, warm ones to keep your feet warm and dry. If you catch a cold, you'll spend a lot more money on medication and treatment. These aren't the things you should skimp on. You can save money on a jacket that's old but still works well. Or you can keep your hat and gloves and wear them for a while.

For example, I started walking to work. I rarely use public transportation, which saves me a fair amount of money. In the summer, I take a bike instead of a car. Gas prices go up almost daily here, and I spend a lot of money on it. I don't use mobile data because it's so expensive. I installed water meters in the house to avoid overpaying. I also now have LED lights throughout the house. And there's so much more I could list.

[Somto9Light]

In order to save successfully one must spend less than they are earning. So basically if you want to save more you either have to cut spending or increase income. Without background information it is very hard to give concrete advice as both spendings and income are very tied to skills and affinities of each person individually.

What about those folks that doesn't earn a decent amount in thier job? I mean those folks whose weekly or monthly income almost go straight to thier expenses how did you think they can adopt this strategy? You know our primary aim of getting a job is to enable us meet up with our expenses maybe if there is some leftover after all the expenses is been carried out then, we can decide to put it in our savings account. It's just that some people are lucky to find a decent job that pay a huge amount of money which their weekly or monthly income it's more than enough to take care of thier expenses and still have enough leftover that can be due to start up a business or maybe shift it in thier savings account, why some people are so unfortunate to get a well paying job. so the only thing thier is discipline and to ensure that we maintain the ongoing of putting our left overs into our savings no matter how small it is, this way we can be able to achieve something in the future.

[MFahad]

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.

It wouldn't be wrong to say that the most important thing to enable you to save successfully is to have a stable income When we know that our income is this we should develop a structure in our minds about how we can meet our expenses with this incomeIf we keep our unnecessary expenses under control it can also protect our income For this is not necessary we have a high income as will enable us to make the right plan even with a stable income It iessential for every person to save their income this helps us to grow further in the other side  you don't have a steady income it's not possible for you to save money That did not help us manage our expenses savings emergency funds  biggest thing for us is saving  we save from our income then gradually we can use this savings for invest or start a business And you can save more

[Lida93]

This is a great idea and the best way to save for a strong and well determined person bitcoin believer who is interested in having what the future will bring in time to come having every penny meant for saving in bitcoin for that long period is not going to be easy but the idea is cool. Will be doing some calculations to know where to cut down some daily $1 to invest it's not going to be bad if any one does it consistently for a decade as you have said, good word for me today.

The idea as I understand is not limited to bitcoin alone but could be extended to other realistic assets with potential for sunstantib profit in the long term of about a decade. There's gold, and other precious metals to invest into and even in stocks and real estate. These are very good alternatives to save money through for the future than leaving it somewhere in fiat.

[₿itcoin]

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 completely agree with what you said about saving money, which is a real habit ! Having the right perspective is very important. however imho  many people fail to save money simply because of laziness or wrong thinking. Real life expenses are eating up almost all their income. Even if they stay where they are, yiu know  inflation is rising. Prices are rising but salaries are not,,,

so  I think saving a little is not bad at all, even if it is a little. Many people find that they lack savings &  it is important to have a system in place. like you could do  automatically managing small savings, or investing in Bitcoin or other stable assets, the value of which does not decrease very quickly. If this habit continues over time it can turn into a large sum & imo  this is where real success lies

[Royal Cap]

To me, the best way of thinking about saving is relying on Power Laws. Every dollar I can save, and put in bitcoin, is going to be worth at least 10x in a few years time (let’s say a decade).
This is the biggest incentive I have in saving. 

This is a great idea and the best way to save for a strong and well determined person bitcoin believer who is interested in having what the future will bring in time to come having every penny meant for saving in bitcoin for that long period is not going to be easy but the idea is cool. Will be doing some calculations to know where to cut down some daily $1 to invest it's not going to be bad if any one does it consistently for a decade as you have said, good word for me today.

This idea is beautiful no doubt. But Bitcoin has no physical touch everything is virtual. If you talk about me, I will buy my wife gold or gold jewelry. By doing this, my wife will be happy and I will be happy. Because now she will be happy using the jewelry and when we need money in the future, I will sell that gold jewelry. Although this can be another side investment. However it is true that Bitcoin investment will give much more profit. But I have highlighted the aspect of physical
 use.

[Umulala-alala]

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.

It is not possible for the poorest of poor to save money not even a dim. What you will ask is that is he doing anything to earn money? There are people who are working this people aren't too poor but they can't be save because their salary can't even pay off their bills. A single man without family can save no mater how little his work is because he has less responsibility that is if you can be determine and discipline.

[Versatile_choice]

Why not? Income and savings are completely different things, and it's nice to know when you've made some money and saved on others in a month. For example, I recently decided not to repair my winter shoes but simply found all the weak spots in the soles and glued them on. I saved a ton of money because I didn't have to buy new expensive shoes. Prices are sky-high right now. I also managed to earn extra money from part-time jobs. So, I feel doubly pleased with myself. And everyone should strive for this approach: saving plus earning.

This approach it's indeed a nice one, I believe this approach can be very affective for those that like spending recklessly. you know if it's most people they will just proceed in getting a new shoes they wouldn't mind tempering thier savings money to add up maybe if the money they save for thier upkeep isn't enough to get a new shoes they will have no option than to temper thier savings.

I have seen a lot of people doing this before and I must say that things didn't want well for them because it get to a point where they get used to spending unnecessarily without thinking about putting some portion of thier money into thier savings account hoping that things will keep turning around for thier good all the time and when they get sacked from work they begin to hover because they have no savings that they can use to sustain themselves in that initial time. This is the reason why savings is very important more especially when we have steady source of getting money.

[ovcijisir]

In order to save successfully one must spend less than they are earning. So basically if you want to save more you either have to cut spending or increase income. Without background information it is very hard to give concrete advice as both spendings and income are very tied to skills and affinities of each person individually.

What about those folks that doesn't earn a decent amount in thier job? I mean those folks whose weekly or monthly income almost go straight to thier expenses how did you think they can adopt this strategy? You know our primary aim of getting a job is to enable us meet up with our expenses maybe if there is some leftover after all the expenses is been carried out then, we can decide to put it in our savings account. It's just that some people are lucky to find a decent job that pay a huge amount of money which their weekly or monthly income it's more than enough to take care of thier expenses and still have enough leftover that can be due to start up a business or maybe shift it in thier savings account, why some people are so unfortunate to get a well paying job. so the only thing thier is discipline and to ensure that we maintain the ongoing of putting our left overs into our savings no matter how small it is, this way we can be able to achieve something in the future.

As the savings is defined by this formula: Earnings - Expenses = Savings
We can see that in order to have more savings we need to either make earnings bigger or make expanses smaller (or both).
I understand what are you telling me but I guess there is no third way. If someone is already minimised their expenses and he still can't make savings bigger, the only way is to make earnings bigger.

[GiftedMAN]

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.

It is not possible for the poorest of poor to save money not even a dim. What you will ask is that is he doing anything to earn money? There are people who are working this people aren't too poor but they can't be save because their salary can't even pay off their bills. A single man without family can save no mater how little his work is because he has less responsibility that is if you can be determine and discipline.

For someone to be able to save money in this present economy you first of all consider it the person has a job that pays his bills before keeping the one for savings, some people are just working to feed they don't have enough to safe there's no way they can force themselves to save unless they will go skip meals then engage in daily savings that's the best way for them to keep little amounts. A single man that is doing a job that can not feed him very well will still not be able to save money no matter how he tries to discipline himself responsibilities are there being single doesn't see too them from coming.

[Ricardo11]

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.

It is not possible for the poorest of poor to save money not even a dim. What you will ask is that is he doing anything to earn money? There are people who are working this people aren't too poor but they can't be save because their salary can't even pay off their bills. A single man without family can save no mater how little his work is because he has less responsibility that is if you can be determine and discipline.

This is why financial management is the most important thing, no matter how big your income is, if you spend money randomly without financial management, you will not be able to save money.
Despite having a good amount of income, you will have nothing left at the end of the month, because your unnecessary expenses are high.
When a family avoids their unnecessary expenses as much as possible and calculates the expenses of each item, they will definitely be able to save a certain amount of money, which they can save monthly.
Although there are some people whose income is so limited that all their money is used up just to meet basic needs, making it almost impossible for them to save, they should create a way of income.
The ability to save depends not only on the amount of income, but also on mindset, discipline and setting priorities. In addition to consciously controlling expenses, you should focus on creating different sources of income, everything is possible to achieve through intelligence and hard work.

[Issa56]

Why not? Income and savings are completely different things, and it's nice to know when you've made some money and saved on others in a month. For example, I recently decided not to repair my winter shoes but simply found all the weak spots in the soles and glued them on. I saved a ton of money because I didn't have to buy new expensive shoes. Prices are sky-high right now. I also managed to earn extra money from part-time jobs. So, I feel doubly pleased with myself. And everyone should strive for this approach: saving plus earning.

It's actually very straightforward, you'll get money to save from your income, so if there is no income, you won't be able to save since it doesn't work, the timing of when it comes in doesn't matter, you may choose whether or not to save when it arrives. And when it comes to saving money, you have to decide whether or not to save, but most importantly, savings are very significant since they serve the same purpose as emergency funds in that if something happens, you will be able to solve it because the funds are set aside for such situations. People are beginning to know the value of savings and you gluing yours shoes just to save money is not a bad idea because you solved a problem that would have cost you more so how you think is what matters.

[Y3shot]

To me, the best way of thinking about saving is relying on Power Laws. Every dollar I can save, and put in bitcoin, is going to be worth at least 10x in a few years time (let’s say a decade).
This is the biggest incentive I have in saving. 

Absolutely, hodling Bitcoin is really the definition of bitcoin.  Saving fiat for long can be wasted effort most times because what you think you are saving, unknown to you the value money keeps deprecating . Saving in bitcoin is the best because as you do so, it yields good value on the long run. This is one of the best ways for savings for value for those who are ready to exercise patience to achieve this in few years

The idea as I understand is not limited to bitcoin alone but could be extended to other realistic assets with potential for sunstantib profit in the long term of about a decade. There's gold, and other precious metals to invest into and even in stocks and real estate. These are very good alternatives to save money through for the future than leaving it somewhere in fiat.

Aside Bitcoin their maybe other other alternative way to save money for better value, but it is important one has to be very carefully when planning for this, because their are many alternative that seems to have value but they dont really have the potential.

[Antotena]

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.

It is not possible for the poorest of poor to save money not even a dim. What you will ask is that is he doing anything to earn money? There are people who are working this people aren't too poor but they can't be save because their salary can't even pay off their bills. A single man without family can save no mater how little his work is because he has less responsibility that is if you can be determine and discipline.

A man who is looking for a way to feed and cloth his self don't have time to make any savings. The least of their problems is saving because what's the use of saving when the money isn't even enough to take care of basic things. This is why many poor people don't have the opportunity to make an investment, if they are been given an opportunity or money to start something doing for their self, they use the money to take care of themselves, even do things they don't need at that time.

A man that is well established, has what it takes to take care of their needs and other things will do everything right to save and do everything necessary to have an investment. I personally don't see anything wrong when you have a savings but make sure that you have money invested in other assets before you do start any form savings. The people that are criticizing savings should know that you can't sell your Bitcoin when you have an emergency situations, having some savings for emergency situations isn't bad.