Save More than Spend

[HelliumZ]

If a family evaluates its income and expenses correctly and spends, that family will definitely never face financial problems in the future. A family should spend based on the amount of income it has. Spending more than its income should never be allowed, otherwise the family will be forced to take out a loan or pay high interest from the bank.
You should make a list of your income and expenses and prioritize the most important expenses first and then cut out the unnecessary ones. You should never indulge in unnecessary spending. You should always have a thrifty attitude.

[Yeesha]

Over time in the past few years, business adjusted prices and even  industries reviewed salary structures, countries increased minimum wage to meet up the demand of the economy due to inflation rates. But within the past few months the inflation rate seems NOT to be on the constant rise and increase as was seen sometime ago. Though it is not stable but there seems to be some forms of little price drops and stabilities in the local markets . This in a way has help some people get extra money because the drops had directly affected disposable income to increase.  Making people to spend more than what they are used to spending before due to the economy.
The best thing to be done now is to realise this fact and save any extra cash instead of spending unnecessarily.  Instead of increasing your purchases because of your increased disposable income, it is better you increase your savings.  Boost it as much as you can because you donot know gow the inflation rate would turn out in the next few months to come.

Even if you save more than you spend, you cannot fight inflation. If you cannot invest your saved money in something from which you will get a good return. With the amount of inflation that occurs every year, the value of a person who keeps cash money will constantly decrease, which will never allow him to lead a good life. Therefore, it is more important than saving to learn about the proper use of money and to study investment subjects. Because without investment, it is not possible to generate such an amount of money that can fight inflation.

It is very clear that keeping our money only enough stop defeat inflation. Savings are more important because they help to prepare for emergencies, manage unexpected expenses, and develop financial discipline. Inflation continuously reduces the value of money, which means that the same amount we save today will be able to buy fewer goods and services in the future. So, even if we are saving consistently, our money may still lose its real value over time. This is why relying on saving alone is not a complete financial strategy. To protect our finances we must also think about ways to make our money grow. Either by through careful and smart investments, such as starting a small business, learning profitable skills, investing in assets, or exploring other legal and ethical financial opportunities. With these methods, your money will continue increasing in value and keep up with even surpass inflation.

[Oshio-man]

If a family evaluates its income and expenses correctly and spends, that family will definitely never face financial problems in the future. A family should spend based on the amount of income it has. Spending more than its income should never be allowed, otherwise the family will be forced to take out a loan or pay high interest from the bank.
You should make a list of your income and expenses and prioritize the most important expenses first and then cut out the unnecessary ones.

For those that understand this inflation that is on ground over some years, they will not miss used their income to what is not going to profit them immediately, and is not good for a family to start collecting loan to feed their family because it will cause a home a lot of hardship in the future and it will be difficult for the family to overcome it to settle the debt, as a family it will be good there are some reserve funds the family can fall back to in case there is some financial challenges that will require little funds and it will be solve immediately but if the family is the type of family that spends more than they save, it will lead them to collect loan that will worsts the hardship in their family.

[MissNonFall9]

Instead of increasing your purchases because of your increased disposable income, it is better you increase your savings.  Boost it as much as you can because you donot know gow the inflation rate would turn out in the next few months to come.

It's very easy to spend more on this kind of economy when you're earning more than before. But that's how you'll define and determine yourself if you're financially responsible and able to maintain the kind of lifestyle chose to live. Saving more is going to put more life to your finances but investing is going to build you a lifetime opportunity that you can pass on to your heirs. So save and invest more is what people need to practice. It's hard and you'll have to sacrifice a lot of things but it's all worthwhile when you'll see the end results of it.

It is true that when a persons income increases, his cost of living also increases, where earlier he used to buy only essential items, now due to the increase in income he starts buying expensive daily necessities as well as fancy items. One thing should always be kept in mind and that is that if interest or addiction to fancy items does not arise, then his future will actually be less developed than it should be. This sacrifice must be made so that the future can be fully successful. For this saving should be given a little more priority than spending and should be saved in crypto, which we consider as an investment. Otherwise if the savings are in fiat currency, then there is a strong possibility of it being affected by inflation and being damaged.

Discipline is a must when someone earns more. Because that crave for those things that you can't afford before, they're going to happen and you'll spend it unplanned because that's what you think is going to satisfy you. It happens to all of us until we have noticed that we can't afford it anymore and the lifestyle that we're trying to live with doesn't suit anymore the increase that we've got. So, protect yourself, protect your money and peace of mind because that's one of the causes when someone can't take it anymore and they depend on loans in the end which is another sign of bad financial habits.

The bottom line is that each of us should be content with what we have and be thankful to God. If each of us can be satisfied, our peace of mind will be assured. And if we can ensure peace of mind, we believe that our performance and productivity will increase many times. Another thing that seems very important to me is to enjoy the present. By enjoying the present we can secure our future.

[Samlucky O]

The best thing to be done now is to realise this fact and save any extra cash instead of spending unnecessarily.  Instead of increasing your purchases because of your increased disposable income, it is better you increase your savings.  Boost it as much as you can because you donot know gow the inflation rate would turn out in the next few months to come.

what is the essence of saving it when you know that inflation is gonna eat it up after all. the economic system is very bad that saving money will even depreciate the value of your saving when you need it the most. my advice for you is to either invest it in bitcoin or covert it to a stable coin like USDT or invest it into a business that will be profitable in the long run, than allowing it to be eating by inflation.

[Iranus]

what is the essence of saving it when you know that inflation is gonna eat it up after all. the economic system is very bad that saving money will even depreciate the value of your saving when you need it the most. my advice for you is to either invest it in bitcoin or covert it to a stable coin like USDT or invest it into a business that will be profitable in the long run, than allowing it to be eating by inflation.

Why choose USDT when it is pegged to the USD, a currency that is also depreciating over time due to inflation? Stablecoin will not help us escape inflation.

You ask, Whats the point of saving? Saving is the foundation of any financial plan and a shield protecting your investment. It helps you deal with emergencies and prevents you from reluctantly selling off your investments. Saving is more important and necessary than you think, do not underestimate it.

[Berry2d]

If a family evaluates its income and expenses correctly and spends, that family will definitely never face financial problems in the future. A family should spend based on the amount of income it has. Spending more than its income should never be allowed, otherwise the family will be forced to take out a loan or pay high interest from the bank.
You should make a list of your income and expenses and prioritize the most important expenses first and then cut out the unnecessary ones. You should never indulge in unnecessary spending. You should always have a thrifty attitude.

Perfect, spending above once income is the worst mistake any body fighting to gain stability or financial freedom should ever think of getting involved in. At times we do make such mistakes because we intend showing up to others that are not even interested to see but because of some stupid lifestyle possessed by some of us we go about doing it without knowing its the shortcut to losing all one have laboured for in so many years of struggling and for stability. And once anyone has this lifestyle, getting out of loan will be the last thing that can ever happen to him as he will be feeding from hand to mouth.

[junder]

Saving is a must so we won't experience financial struggles in the near future. Or if ever there is, at least it can be manageable.

But how about those who are not capable to save because they are jobless, or because their income is not well sufficient? Saving could be very hard for them, but I don't think it will happen all the time.

Life can sometimes surprise us and make good earnings, so saving is not really impossible. But if you, yourself chose to not save first, I guess that's really a future problem though.

When we grow up and understand money, we will definitely have thoughts about how to earn money, spend money, and save money, or in other words, money management.

However, not everyone is in the same financial situation and has the same money management skills. Those who manage their money wisely are very fortunate because they can adjust their income and expenses.

Even if their income is not large, they can still set aside a little to save, which is great. And for those who are unable to do so, I don't think it's because they don't want to sometimes circumstances simply don't allow it.

[Unknown Op]

what is the essence of saving it when you know that inflation is gonna eat it up after all. the economic system is very bad that saving money will even depreciate the value of your saving when you need it the most. my advice for you is to either invest it in bitcoin or covert it to a stable coin like USDT or invest it into a business that will be profitable in the long run, than allowing it to be eating by inflation.

Why choose USDT when it is pegged to the USD, a currency that is also depreciating over time due to inflation? Stablecoin will not help us escape inflation.

You ask, Whats the point of saving? Saving is the foundation of any financial plan and a shield protecting your investment. It helps you deal with emergencies and prevents you from reluctantly selling off your investments. Saving is more important and necessary than you think, do not underestimate it.

Mang people want to invest in real estate because they think that it is best for everyone but many people are saving not which is bad for them because they can face any difficulty situation in which they need big amount of money and that time you liquid cash will help you to escape from that situation and if you will invest in Gold or property it is not looking good because gold is risky if you want to invest for short term because market is very volatile and people are holding more gold and many countries have gold as commodity for their safe future because they don't want to depend on dollar and dollar is not safe at that time when everyone is hating with USA due to policies of Donald trump and he has no actual friend and he is like a snake.

[nara1892]

The best thing to be done now is to realise this fact and save any extra cash instead of spending unnecessarily.  Instead of increasing your purchases because of your increased disposable income, it is better you increase your savings.  Boost it as much as you can because you donot know gow the inflation rate would turn out in the next few months to come.

what is the essence of saving it when you know that inflation is gonna eat it up after all. the economic system is very bad that saving money will even depreciate the value of your saving when you need it the most. my advice for you is to either invest it in bitcoin or covert it to a stable coin like USDT or invest it into a business that will be profitable in the long run, than allowing it to be eating by inflation.

Of course, I agree with you that investing is a better choice, not that saving is bad but given the inflation that will continue to eat away at our money I think it is much better to divert our money to invest in any asset that you trust such as Bitcoin.
I understand that investing is also risky but in the long run the potential returns are usually much greater, all you need is money, consistency and patience, but it is much better for you to first learn about the basics in investing.

[WatChe]

As a youth who earns money, it is very good to save and invest. I see my youth who spends lavishly, it very common for young who just made money to buy car, club with girls, spend on unnecessary things. Then they go broke within a matter of time. Even with that most of them doesn't still take lessons from their past experiences, they still feel they young and have enough time to make more money. Even if it is small investments we make consistency it matters in a long term period. Yes, we can enjoy our money, but we should cut out unnecessary things.

It is very much normal that young people don't understand the importance of savings and investing unless they grow old. The early you understand how important it is to save and invest, better it is for you. If you don't have huge money you can invest small amount in Bitcoin or any other area which you like but with consistency. Investment is always for long term and if you start investing today for next 10 years then after 10 years you will be in position to enjoy the good return. Investment is not just about putting money but also choosing the right area which has the capability to grow in future.

[Felicity_Tide]

Over time in the past few years, business adjusted prices and even  industries reviewed salary structures, countries increased minimum wage to meet up the demand of the economy due to inflation rates. But within the past few months the inflation rate seems NOT to be on the constant rise and increase as was seen sometime ago.... ~snip

I'm not exactly sure of the exact economy that you're talking about, or the society where we often see industries/businesses, reviewing the salaries of their workers just to increase them, but trust me, making such generalization is definitely not a good idea. Assuming things tends to get better in the part of the world where you live, trust me, it doesn't for the other parts_{(at least the majority)}. Of course, I value the idea and the importance of savings, and people should try as much to practice that when they're opportune to, but the truth is, things doesn't get better for so many as you may think.

Just so you may know, most of these stats of economical performance, sometimes don't actually reflect on the economy itself. Just because they tell you that the inflation rate for a particular month has decreased doesn't entirely mean that it would reflect in the price of items. And again, not all company even make a reasonable salary increase over time. Honestly speaking, the situation is a bit complex because things are not getting better anymore, so for those who have what it takes to do it, then they shouldn't hesitate.

[Sarah_Jannat42]

If a family evaluates its income and expenses correctly and spends, that family will definitely never face financial problems in the future. A family should spend based on the amount of income it has. Spending more than its income should never be allowed, otherwise the family will be forced to take out a loan or pay high interest from the bank.
You should make a list of your income and expenses and prioritize the most important expenses first and then cut out the unnecessary ones. You should never indulge in unnecessary spending. You should always have a thrifty attitude.

Yes, it is very well said that having a list of income and expenditure is a must for every person, especially for middle class people and those whose income is not constant or consistent. But those who earn more may not be able to maintain a list of income and expenditure. But if someone wants to start their life from scratch, I hope your method will be very effective for them. But one thing I would like to add is that it is important to have a moderate attitude rather than being frugal in terms of income and expenditure.

[bangjoe]

what is the essence of saving it when you know that inflation is gonna eat it up after all. the economic system is very bad that saving money will even depreciate the value of your saving when you need it the most. my advice for you is to either invest it in bitcoin or covert it to a stable coin like USDT or invest it into a business that will be profitable in the long run, than allowing it to be eating by inflation.

Why choose USDT when it is pegged to the USD, a currency that is also depreciating over time due to inflation? Stablecoin will not help us escape inflation.

You ask, Whats the point of saving? Saving is the foundation of any financial plan and a shield protecting your investment. It helps you deal with emergencies and prevents you from reluctantly selling off your investments. Saving is more important and necessary than you think, do not underestimate it.

I felt like laughing when I read it, someone forbids holding USD but suggests USDT, then talks about inflation will eat away at it, you know my thoughts, the fact is that Stablecoin is a coin which is a representation of FIAT in the crypto space.
He doesn't understand the concept of good finances as a whole, where we have to have, emergency funds, children's education funds, investment funds, unexpected funds, if you don't have insurance for health then you have to have preparations for collateral because no one knows about illness and accident and it has to be in the form of cash, namely fiat, it can't be in any assets because if you save it in assets, it's not easy to liquidate, especially assets that have a fluctuating value are not good for savings.

[dezoel]

Even when you save extra, you're not entirely immune to the problem. The saved funds would still be met by inflation and Fiat depreciation and the buying power reduced. It's important to increase your income also in response to increasing financial demands, that way you can sustain the present, save enough and possibly invest wisely to secure the future. Wealth is built through investments and not saving excessively, the target should be building wealth. No one escaped a crashing economy by saving money alone.

You cannot only save but not invest, if you are saving then you should be investing too.

Most preferably, if you are saving then you should invest into something that gives you income, it could be stocks with dividends, it could be small apartment so you rent out, like airbnb or something else maybe long term, or you buy anything that gives you passive income. That way, not only you keep on saving and investing, but also your investment can increase to a point where it creates and income for you to live off on.

[Mate2237]

Snip

investment is actually the real deal, saving is just going to solve problems temporarily, investment is what you should focus on the most. if you saved money for a period of five years it is still not going to change the fact that you are going to end up spending those monies you have saved up, and at the end of the day you have no increased value added to it. But if you invest into something be it stocks, bitcoin or any other cryptocurrency you are giving yourself an advantage to actually make profit in the future. it is more profitable to invest
.

I completely agree with you, in as much as you can save it should be done with the intent of investing because investment is the game changer,the highest savings can do is to make you solve emergency problems which may arise and to help you gets some things which you may wants. But you can't compare it to investments because what makes you free from financial stress is investment. Because investment guarantees wealth which can be sustainable on the long run so in as much as saving should be encouraged investment should be the main thing going forward.


You can save up for the purpose of investment when you don't have the financial means to go about it, this is were saving is important. Saving can be a good way of raising money to start a good business for those who may not be financially bouyant enough to start a business.

[Localhostspeed]

I felt like laughing when I read it, someone forbids holding USD but suggests USDT, then talks about inflation will eat away at it, you know my thoughts, the fact is that Stablecoin is a coin which is a representation of FIAT in the crypto space.
He doesn't understand the concept of good finances as a whole, where we have to have, emergency funds, children's education funds, investment funds, unexpected funds, if you don't have insurance for health then you have to have preparations for collateral because no one knows about illness and accident and it has to be in the form of cash, namely fiat, it can't be in any assets because if you save it in assets, it's not easy to liquidate, especially assets that have a fluctuating value are not good for savings.

He is saying the opposite of USDT and Usd. The two asset are not good for hold by I will actually like to hold usd as dollar currency than USDT because Tether Usdt is control by a company and thag company can seized your asset and hold it like it was not yours in the first place. They did that to Venezuela and held their millions because the US government instructed them to hold it. If it was even usd cash, there was no way the US government will have access to it because it's going to be in Venezuela custody.

It's good to save and it's good to make investment so that when you run into financial problems, you will know how to come out of it and not struggle to solve the problems. If you have invested all your money into something, you will be struggling later to do things, you will even be having thoughts of seeing your investment so you can solve the problem. You can't even enjoy your investment if you have life struggles, so make sure you do the both.

[Samlucky O]

what is the essence of saving it when you know that inflation is gonna eat it up after all. the economic system is very bad that saving money will even depreciate the value of your saving when you need it the most. my advice for you is to either invest it in bitcoin or covert it to a stable coin like USDT or invest it into a business that will be profitable in the long run, than allowing it to be eating by inflation.

Why choose USDT when it is pegged to the USD, a currency that is also depreciating over time due to inflation? Stablecoin will not help us escape inflation.

You ask, Whats the point of saving? Saving is the foundation of any financial plan and a shield protecting your investment. It helps you deal with emergencies and prevents you from reluctantly selling off your investments. Saving is more important and necessary than you think, do not underestimate it.

I felt like laughing when I read it, someone forbids holding USD but suggests USDT, then talks about inflation will eat away at it, you know my thoughts, the fact is that Stablecoin is a coin which is a representation of FIAT in the crypto space.

Well it sound funny to you but I know what I am saying, USD might just represent  fiat in the crypto space but it is quite different from local fiat entirely. Like now some people like changing their fiat to USD in my country. Let's say if $1 USD in my local fiat is equal to #500 in the Year 2014, today that same $1 USD is equal to #1480 in my fiat currently. This means that holding or Saving #500 fiat in my currency for 12 years will result to not affording $1 in 2026 you will need extra money to afford $1 but if you hold in USD apart from Bitcoin, inflation will not affect it.  now how can you explain having USD and saving fiat for this period of time?

[viljy]

When I read or hear savings tips in videos, it's not even funny anymore. In some ways, this resembles the advice from Marie Antoinette to eat cakes if there is no bread. What kind of savings?! Tens of millions of people don't have enough money just to survive. And, I believe, this is the case in many countries, everywhere.