How to save successfully?

[mvdheuvel1983]

Saving is actually not as difficult as people think. In fact, it is not that difficult. If we are disciplined in financial matters, we can continue saving with any amount of income. No matter how small, when someone starts saving a small amount of money regularly even with a small income, it gradually creates a financial discipline and starts building a financial foundation for the future. That is why we should always try to reduce unnecessary expenses, then our savings journey will become much easier, we have to get used to it, then it will definitely not be too stressful for us.

Savings is nit as easy as you think for instance no matter how discipline you are it's not possible to save when you are not ok financially and when you do not have a good source of income, in the case where you are financially boughant discipline comes to play a vital role because you have to minimize your spending to be able to save for other good things in the future. Saving any small amount will multiply the amount you save which is right but themost important thing is to have a good source of income then be disciplined enough to reduce your expenses that's the best way to achieve savings.

[junder]

It's true as you said, but I have a different point of view, which is to be motivated to earn more money, so there are people who say that everyone can save as long as they have strong determination, and I agree with that statement provided that the strong determination is used as motivation to earn more money. Indeed, sometimes someone who doesn't have much money is due to a lack of motivation, and I believe that if someone has high motivation, they can earn more money and get out of poverty.

A motivated person will strive to achieve the best for themselves. On the other hand, we must all have our own motivation in life. I didn’t have any myself at first, but I reached a point where I realized I needed to be like the person I looked up to as my role model.

I’ve made this motivation my guiding principle for life, so whenever I’m feeling down, I remind myself of it. Even if it doesn’t help immediately, it reignites the enthusiasm I’ve lost.

[bhadz]

The savers will eventually realize that it's not the best way to grow their money. Due to inflation and that makes things more expensive, the money that's kept on their bank accounts will not grow with the little interest that the bank provides them. it sounds good that the bank pays you with the money you save on them. While them, they utilize every resource and fund that's being saved on them and they're putting a huge interest on it while you're only receiving very minimal amount that's not even to cover the annual inflation. With that situation, everyone will realize that there is a need to invest what they have saved.

[Fredomago]

Saving isn't really easy for those who's earnings is not big enough,

Saving is not really hard no matter how small your income is, you should know that making a savings does not necessarily mean that you must save maybe $5k every week or month, there's no fixed amount for savings those whose earning is not enough can still make savings I'm sure that after taking care of thier expenses they will still have some money Left so that money should be for thier savings no matter how small it is rather than waiting to have a well paying job before making savings.

Saving is actually not as difficult as people think. In fact, it is not that difficult. If we are disciplined in financial matters, we can continue saving with any amount of income. No matter how small, when someone starts saving a small amount of money regularly even with a small income, it gradually creates a financial discipline and starts building a financial foundation for the future. That is why we should always try to reduce unnecessary expenses, then our savings journey will become much easier, we have to get used to it, then it will definitely not be too stressful for us.

If you practice and put it in your system it indeed that saving is not that hard, any amount that you think already spare which is no longer need to finance whatever expenses that you need to settle, though most of the time, the reason why a certain individual have that problem in saving their money, usually the amount that they are earning is just enough to cover the expenses that they need, either they'll find othe source of income or take a extra time at work that will free up some amount which they can allocate for their savings.

[bakasabo]

The savers will eventually realize that it's not the best way to grow their money. Due to inflation and that makes things more expensive, the money that's kept on their bank accounts will not grow with the little interest that the bank provides them. it sounds good that the bank pays you with the money you save on them. While them, they utilize every resource and fund that's being saved on them and they're putting a huge interest on it while you're only receiving very minimal amount that's not even to cover the annual inflation. With that situation, everyone will realize that there is a need to invest what they have saved.

I think saving does not actually mean growing money. Saving is an activity aimed to get decent amount of money by end of some period. Saving money should not be considered as earning and making big goals. You cant earn thousands, save some amount monthly and hope to become millionaire. Saving is about reducing expenses, not gaining new money. Saving to invest it a good way to fight inflation, but not a perfect way to become rich.

[Marvelockg]

The savers will eventually realize that it's not the best way to grow their money. Due to inflation and that makes things more expensive, the money that's kept on their bank accounts will not grow with the little interest that the bank provides them. it sounds good that the bank pays you with the money you save on them. While them, they utilize every resource and fund that's being saved on them and they're putting a huge interest on it while you're only receiving very minimal amount that's not even to cover the annual inflation. With that situation, everyone will realize that there is a need to invest what they have saved.

It's only the one that lacks proper knowledge as to how the financial system works that system works that sees saving in the bank to be a big deal even when the Interest he's getting is far smaller than the expected returns he's supposed to be getting from the amount saved in the bank if he had used that money for a more rewarding thing that wilk certainly yield greater returns.

Instead of mere saving in the bank, it's rather better to even invest in yourself and become more valuable such that you become a source of more money on your own.

[ChocolateBitcoinK]

Saving is actually not as difficult as people think. In fact, it is not that difficult. If we are disciplined in financial matters, we can continue saving with any amount of income. No matter how small, when someone starts saving a small amount of money regularly even with a small income, it gradually creates a financial discipline and starts building a financial foundation for the future. That is why we should always try to reduce unnecessary expenses, then our savings journey will become much easier, we have to get used to it, then it will definitely not be too stressful for us.

Savings is nit as easy as you think for instance no matter how discipline you are it's not possible to save when you are not ok financially and when you do not have a good source of income, in the case where you are financially boughant discipline comes to play a vital role because you have to minimize your spending to be able to save for other good things in the future. Saving any small amount will multiply the amount you save which is right but themost important thing is to have a good source of income then be disciplined enough to reduce your expenses that's the best way to achieve savings.

We must have a stable source of income, this is of course a first priority, because if we do not have an income, where will we get the money for savings? It is very common knowledge that planning alone is not enough, but first of all we must have an income, where there is income, there are expenses, and there savings are maintained through financial management. People can start saving even with a very small amount, in fact, people will basically decide the amount of savings depending on their financial situation, so keep saving with what you can afford according to your income and the habit of saving little by little consistently will build a big financial foundation in the future.

[bhadz]

The savers will eventually realize that it's not the best way to grow their money. Due to inflation and that makes things more expensive, the money that's kept on their bank accounts will not grow with the little interest that the bank provides them. it sounds good that the bank pays you with the money you save on them. While them, they utilize every resource and fund that's being saved on them and they're putting a huge interest on it while you're only receiving very minimal amount that's not even to cover the annual inflation. With that situation, everyone will realize that there is a need to invest what they have saved.

I think saving does not actually mean growing money. Saving is an activity aimed to get decent amount of money by end of some period. Saving money should not be considered as earning and making big goals. You cant earn thousands, save some amount monthly and hope to become millionaire. Saving is about reducing expenses, not gaining new money. Saving to invest it a good way to fight inflation, but not a perfect way to become rich.

You're right but what savers think that they're growing their money through it. And that's not a problem if they can't invest. Because not all people can invest and succeed with it. If that's the way they can protect their money, they'll learn how to invest later because once a big spending happens and their savings is all that they have, it will be wiped out.

It's only the one that lacks proper knowledge as to how the financial system works that system works that sees saving in the bank to be a big deal even when the Interest he's getting is far smaller than the expected returns he's supposed to be getting from the amount saved in the bank if he had used that money for a more rewarding thing that wilk certainly yield greater returns.

Instead of mere saving in the bank, it's rather better to even invest in yourself and become more valuable such that you become a source of more money on your own.

Not all can invest and so if they can start it out with savings, they'll learn the way how people invests and what kind of assets and investments they are comfortable to take for its risk.

[Iroh]

Saving is not really hard no matter how small your income is, you should know that making a savings does not necessarily mean that you must save maybe $5k every week or month, there's no fixed amount for savings those whose earning is not enough can still make savings I'm sure that after taking care of thier expenses they will still have some money Left so that money should be for thier savings no matter how small it is rather than waiting to have a well paying job before making savings.

You may not totally understand just how poor a lot of people are. They're people that are barely surviving and are literally living hand to mouth. With the meager amount of money gotten from whatever low paying job they manage to get, that still doesn't pay the minimum wage, it can be extremely difficult to have and keep some savings. In theory, despite earning very little pay, it's easier to think about putting aside a bit of your earnings into your savings.
But in reality, it's totally different. When you earn very little pay and literally living hand to mouth, it's nearly impossible to have and grow your savings. For such individuals, having some savings can be difficult. You can't possibly expect someone whose income is not enough to solve half his needs and expenses to have some savings.

[Mame89]

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.

That's right. Sometimes circumstances prevent people from saving even though they have an income. The example you mentioned is quite common in many countries being part of the sandwich generation and this isn't easy to accept especially when it comes to saving. Because while others are focused on building their dreams, the eldest child has to share the responsibility for their family.

There's also the case of my neighbor. He told me that his father had never had any savings in his entire life. He worked as a factory worker, barely making ends meet and he had four children. Never mind saving his father was grateful he wasn't in debt. But in his old age after retirement, his father had savings for the first time because all four of his children were working and each of them gave him money every month. From his son's story, for his father it was the first time in his life that he had savings, but not much. But what I want to convey is that sometimes circumstances prevent people from saving not because of their own desires. In fact, his father only started saving in old age and even then the money came from gifts from his children. Btw, my friend's father saved in gold.

[348Judah]

Saving is actually a culture everyone of us is expected to inculcate, search and habit is inevitable for us to do because it's always have a future benefits, but some are not knowing much about this and why it is necessary for them to develop a saving attitude, when we fail to save for ourselves, we are indirectly pointing at the future to be vulnerable at us by all cost, because we are more prone to be stranded in the future because of this negligence of taking the rested of saving in preserving the future for ourselves.

[summonerrk]

For many people, not being frugal in food is a necessary measure. Imagine an average family that doesn't have money for a car or a vacation abroad. But such a family still needs entertainment, and therefore food acts as entertainment. We will not talk about technology and clothing now, let's imagine that they buy only the necessary things from this. So, such a family, in order to entertain themselves, orders good ready-made food: delicious fish on coals, ready salads... This is not the most economical solution, but it saves them time and effort, especially if they have children with whom there is no one to help (there are no grandparents) .
My main thought is that from the outside it seems that such a family does not live saving to the fullest. But he has to spend money in such a way to get joy.

[8rch7]

Indeed difficult, saving have much benefit in the future although hard how to manage well with our income exactly for someone have small income but in the future you can earn more trough your saving fund. Firstly about consistent and want to spent few percent of income for saving fund but you must manager well firstly about your outcome as daily or monthly.
Last year, I started saving around $30 every week but its looks hard based on my income not really high and I change my saving way spent around $5 every day until earn around 30$ for one week. I stop my self for buying something not really needed and spent its for saving fund because earn much benefit in the future if any emergency moment happen to us we have money from saving fund.

[Bitcoin.com97]

Saving is actually more of a mindset and habit than the amount , saving is really really hard for many people, because it requires discipline, consistency, and it’s mostly for future purposes not instant use , the amount may not actually be a problem , but making it a habit to consistently be a part of their financial routine could be the actual problem, because removing certain amount from what you are earning probably weekly or monthly to save , it need so much courage and determination because you will deprive yourself from so many things , but if you do it , in  the future you will look back  and be grateful that you did it .

[Dareo]

The savers will eventually realize that it's not the best way to grow their money. Due to inflation and that makes things more expensive, the money that's kept on their bank accounts will not grow with the little interest that the bank provides them. it sounds good that the bank pays you with the money you save on them. While them, they utilize every resource and fund that's being saved on them and they're putting a huge interest on it while you're only receiving very minimal amount that's not even to cover the annual inflation. With that situation, everyone will realize that there is a need to invest what they have saved.

But I see it in a balanced way. Savings are not bad at all, on the contrary they are very necessary as a safety net. If you throw all your money at risk, you may face problems in unexpected situations, So in my opinion the smart approach is to keep a part in savings and another part in investment. Because investment gives growth but savings gives stability. Only when these two are balanced can your financial situation become strong. If you depend on only one you will remain at risk in the long term.

[Pablo-wood]

The savers will eventually realize that it's not the best way to grow their money. Due to inflation and that makes things more expensive, the money that's kept on their bank accounts will not grow with the little interest that the bank provides them. it sounds good that the bank pays you with the money you save on them. While them, they utilize every resource and fund that's being saved on them and they're putting a huge interest on it while you're only receiving very minimal amount that's not even to cover the annual inflation. With that situation, everyone will realize that there is a need to invest what they have saved.

I think saving does not actually mean growing money. Saving is an activity aimed to get decent amount of money by end of some period. Saving money should not be considered as earning and making big goals. You cant earn thousands, save some amount monthly and hope to become millionaire. Saving is about reducing expenses, not gaining new money. Saving to invest it a good way to fight inflation, but not a perfect way to become rich.

Saving is like a money kept for future expenses while trying to cut down our budgets. It is not in anyway an investment plan. It is just a measure taken to limit how we spend and also have some reserve in case of emergency expenditures or more important needs arises. Every money isn't meant for investment some need to saved so as to meet up our daily, weekly and monthly expenses. Most times its our savings that rescues us in rainy days while we keep our investment locked in.

[Itz-prisigold]

Another issue with saving is how unpredictable life can cause saving to seem as though it is impossible,  even though you always have it in mind to save. I do not believe it is just about mindset,  sometimes it is about unstable income, unexpected bills, some family responsibilities that keeps coming up, etc.

I feel that saving will be easier for people when they are able to make their savings plan flexible rather than making it strict for themselves. I believe that instead of setting a fixed amount that you will save each month or week,  you should attempt to save with what is available in your budget at that moment, which may be little or inconsistent. When you start saving that way,  you will not feel like you are being pressured into saving or punished for not saving.

Motivation also plays a large part in how long someone will continue to save. If someone does not have a clear purpose or goal associated with saving,  they will quickly lose interest and stop saving.  I find that attaching a purpose to why I am saving creates a sense of reality and  sustainability in my own ability to save.

[Rgram]

I think saving does not actually mean growing money. Saving is an activity aimed to get decent amount of money by end of some period. Saving money should not be considered as earning and making big goals. You cant earn thousands, save some amount monthly and hope to become millionaire. Saving is about reducing expenses, not gaining new money. Saving to invest it a good way to fight inflation, but not a perfect way to become rich.

The idea of savings is more about having to have a portion of your already earned money kept safely away. It has nothing to do with increase otherwise, we would have regarded it as an investment. Although, it’s always delightful to get some profit on your savings and it’s never really worth anything.
Savings in Bitcoin though is a different story because, you are invariably holding an asset and not entirely a currency as we would have being made to believe given its use. So, this could redefine savings a bit.

[imthegreat]

Another issue with saving is how unpredictable life can cause saving to seem as though it is impossible,  even though you always have it in mind to save. I do not believe it is just about mindset,  sometimes it is about unstable income, unexpected bills, some family responsibilities that keeps coming up, etc.

I feel that saving will be easier for people when they are able to make their savings plan flexible rather than making it strict for themselves. I believe that instead of setting a fixed amount that you will save each month or week,  you should attempt to save with what is available in your budget at that moment, which may be little or inconsistent. When you start saving that way,  you will not feel like you are being pressured into saving or punished for not saving.

Motivation also plays a large part in how long someone will continue to save. If someone does not have a clear purpose or goal associated with saving,  they will quickly lose interest and stop saving.  I find that attaching a purpose to why I am saving creates a sense of reality and  sustainability in my own ability to save.

You know, I would argue about goal-motivated hoarding. I've heard a lot about this, and it seems that everyone motivates themselves with goals in life, but in fact, do such people really manage to save money? Well, for example, if I want to go to the beaches, then I can save for a long time and persistently, because I'm such a person. If an average girl or guy tries, they will not succeed, they will find something to spend these savings on. Still, I think that saving works for those people who are just like that on their own. By their nature, from nature or from their parents.

[Altryist]

You know, I would argue about goal-motivated hoarding. I've heard a lot about this, and it seems that everyone motivates themselves with goals in life, but in fact, do such people really manage to save money? Well, for example, if I want to go to the beaches, then I can save for a long time and persistently, because I'm such a person. If an average girl or guy tries, they will not succeed, they will find something to spend these savings on. Still, I think that saving works for those people who are just like that on their own. By their nature, from nature or from their parents.

Perhaps it depends to some extent on upbringing, if your parents give this habit to you, you’ll learn to save. Or if you find yourself in an environment where saving money is normal, you’ll adopt that behavior as well. But not everyone saves, some people who want to go on vacation but don’t have the money will simply take out a loan, and then spend the rest of the year paying it off.