Save More than Spend

[MinMan]

Yeah one needs to save but I will advise that the savings be in bitcoin and not in bank because if you save in bitcoin inflation will not get to it but if you decide to save in bank inflation will still get to it there by making your savings useless. If your salary is increased because of inflation what you should do is to continue living the way you were doing before the inflation, some people will just increase there standard of living because there money as been increased forgetting same inflation that happened that lead to your salary being increased can happen again and you know how government works before they can review the salary structure it may take a very long time, so save that add income in bitcoin to secure your future.

Bitcoin might not be the only option available for this, but it is one of the options that can be used as a hedge against inflation. Other options can include Gold, Silver, or any other asset that is known for either maintaining its value over time or increasing in value, because even if an asset doesn't increase in value much, but if it doesn't lose value over time, it can still be used as a hedge against inflation. When comparing these options, one could think of Gold as a more stable way of keeping your money, while Bitcoin on the other hand could serve as an investment as it tends to have a more volatile nature.

Now, it depends on what a person wants with their money and what kind of a mindset they have in general, because if you are someone who is more into investments and want to make some money over time, you should probably go with Bitcoin as it can do that for sure, but if you are someone who doesn't care much about profits but only wants to keep the value of your assets intact in the long run, and maybe also get some profits, then Gold is the option for it.

[Russlenat]

People who are paid above the minimum wage income are most likely to gain extra money especially if they are not the breadwinner in the family. And we all expect from them that they can easily save due to less expenses.

But in real life, no matter how high your income is, if you don't have discipline and proper financial management, you will not be able to save and just like anybody, you still end up struggling to fit your budget so you can attend to your needs.

Saving more than spending is easier said than done. Even those who keep advising you to save and limit your expenses, you can't even guarantee if they are actually saving in real life or they are just good in their words without real actions.

[bhadz]

Instead of increasing your purchases because of your increased disposable income, it is better you increase your savings. 

When a person earns more, they'll take that moment to think of buying that shall fill their desire to have it when they were not yet able to have it. And that's why regular working people tries to buy stuff that they like to own when they were younger because they're broke at that time. While the time changes and situations have improved, they don't mind spending so much money to these hobbies and stuff that they like. So, lifestyle inflation happens and I agree that people should still value their money because if they protect their income now, they'll be protected by it as well during the rainy days and not just by saving but also investing.

[AprilioMP]

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.

Choosing to prioritize primary and secondary needs is not really necessary. If this is the case, I would agree and for me it is one of the efforts to save the economy.
Just thinking about primary needs and saving the rest in the form of investments is the best thing to do. This does not include neglecting vacations and other things, but these things have their own place that can be included in the planning. At a minimum, go on vacation no more than twice a year.
Save just enough fiat currency as a reserve for when you need it so that it doesn't interfere with your investment assets, but prioritize putting a higher percentage into good investment savings.

[fruktik]

Yeah one needs to save but I will advise that the savings be in bitcoin and not in bank because if you save in bitcoin inflation will not get to it but if you decide to save in bank inflation will still get to it there by making your savings useless. If your salary is increased because of inflation what you should do is to continue living the way you were doing before the inflation, some people will just increase there standard of living because there money as been increased forgetting same inflation that happened that lead to your salary being increased can happen again and you know how government works before they can review the salary structure it may take a very long time, so save that add income in bitcoin to secure your future.

No, in my country, saving money is simply pointless due to the high inflation rate. Money is losing value at an incredible rate. So, you should live in the here and now. Save Bitcoin? What if the price drops even lower? Imagine the faces of those who bought it at 120,000. What would they say about that right now? I don't think they support such an idea. The crypto world is in turmoil. A fall will likely be inevitable.

[rangga28]

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.

Choosing to prioritize primary and secondary needs is not really necessary. If this is the case, I would agree and for me it is one of the efforts to save the economy.
Just thinking about primary needs and saving the rest in the form of investments is the best thing to do. This does not include neglecting vacations and other things, but these things have their own place that can be included in the planning. At a minimum, go on vacation no more than twice a year.
Save just enough fiat currency as a reserve for when you need it so that it doesn't interfere with your investment assets, but prioritize putting a higher percentage into good investment savings.

Saving and investing are two excellent ways to manage your finances, and they're only feasible for those with sufficient funds, if not more. Planning a vacation to cover even basic needs can sometimes be overwhelming due to limited opportunities for permanent employment and high inflation.

[Frankolala]

Financial management is very important for anyone that wants to spend wisely where you prioritize your needs over your wants and invest the little that is left as extra after taking care of your basic needs and monthly expenses. Saving is good but are you saving the money for long if yes, why not put it into bitcoin instead of keeping it in fiat. Investment generates profits but banks tax you for holding your money.

[Achalugo BTC]

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Saving is cool but pretty thing you should value more than that is investments, it is better to invest more than spending. Saving is simply Saving to spend money later on which is almost like delaying the inevitable.while you are just Saving all that money that isn't doing anything for you there are many ways to put it into good use. You can make money by allowing your money produce more for you.

Investment is more better than saving because if one invest, they have more profit, which you can divide you profit, using some to save and can also use the other to reinvest or to sort out other things, basically thinking of saving alone, can make you to spend all your money someday, which might lead you into bankrupt because its only packed in a place, which it doesn't multiply or makes you grow but makes you to become broke and idle. And to avoid this is by investing, which is the key to success and growth.

[KiaKia]

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.

I am sorry to say but this is an incomplete advise, where should people safe their money? In the bank? Unfortunately they haven't escaped the inflation problem if they save money in the bank, it won't make a lot of difference.

I am currently saving up my money using stable coins and I plan to use some part of the money to buy Gold when finally the price start to go down a bit, I still feel like Gold is way more safer and more reliable than anything else.

Bitcoin is my second option and right now it's not looking good to invest, I will have to wait it out for some bottom to happen after several months of this year, and if it doesn't happen I still have some Bitcoin left.

[barisbilgili]

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.

Choosing to prioritize primary and secondary needs is not really necessary. If this is the case, I would agree and for me it is one of the efforts to save the economy.
Just thinking about primary needs and saving the rest in the form of investments is the best thing to do. This does not include neglecting vacations and other things, but these things have their own place that can be included in the planning. At a minimum, go on vacation no more than twice a year.
Save just enough fiat currency as a reserve for when you need it so that it doesn't interfere with your investment assets, but prioritize putting a higher percentage into good investment savings.

Saving in the form of investment, I agree with that, but there are also many things to consider because every investment certainly carries risks. However, aside from that, I think it is a necessity that everyone should do in life, whether rich or poor. Saving must be done, and I think if saving becomes the main priority in life, then to meet other needs, we will naturally be motivated to work harder. That is the positive aspect of it.

[goldkingcoiner]

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.

I think savings in the form of fiat is a bad idea because with time it will only lose value (buying power).

Maybe it is better to invest into diverse things than save.

Personally I might be too "all-in" on Bitcoin, but I still have a somewhat diversified portfolio (which is not as profitable as Bitcoin, but diversifying is still important since we cannot tell what the future holds).

[Solodoski]

The problem with people experiencing salary increase, they also elevate their lifestyle and spend like they have unlimited cash flow of income. They are never cautious with how they spend their money, as long as they have fulfilled all their needs and wants in life.

Wouldn't it be more ideal for the future if the people care to save more and spend less? We have seen how inflation is ruining our budget and finances, so its best if we could be more cautious on how to budget wise our money and spend only on what's real necessity and disregard the unnecessary ones.

Saving more of your income is very important,  so I wonder why people tend to spend more on unnecessary things. I think the problem of most people is budgeting,  when they get their income they don't plan on how to spend their money. I think the right thing to do is to make a budget on how to spend your income. You should budget some on savings, investment, emergency fund and money to run your daily activities.. if you can do all this, you are definitely planning for your future,  because a time will come when you don't have the strength to work anymore and you can rely on your investment and savings to help you through your old days.

[fuguebtc]

Yeah one needs to save but I will advise that the savings be in bitcoin and not in bank because if you save in bitcoin inflation will not get to it but if you decide to save in bank inflation will still get to it there by making your savings useless. If your salary is increased because of inflation what you should do is to continue living the way you were doing before the inflation, some people will just increase there standard of living because there money as been increased forgetting same inflation that happened that lead to your salary being increased can happen again and you know how government works before they can review the salary structure it may take a very long time, so save that add income in bitcoin to secure your future.

In my opinion, Bitcoin is not a suitable tool for saving money. Although it is a hedge against risk, Bitcoin is a highly volatile and unpredictable asset in the short term. Meanwhile, the purpose of saving is to preserve value and use it for emergencies and whenever needed. Therefore, Bitcoin is only suitable for investment purposes, and we need to distinguish and separate saving from investing. They are different concept and play different role in life. Combining saving and investing is not a wise idea

[Yaunfitda]

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.

Good advise, but it really depend on how much income you are taking every month. As there could be just workers who are barely making minimum wages and so they survived paycheck to paycheck. But if you are someone that has a good to high income, then yeah, this advise is perfect for you. You might have to go to the notion of really writing down everything so that at the end of the month, or if your paycheck comes every two weeks, then you can budget everything and what's left out could be your savings. Just have some buffer though as we don't know if there will be things that might come out in a given month. This is very important if you have a family already as you have to be constantly have to bring food in the table, and then have some savings at the side.

[DPHOR]

Savings is important to everyone out there including me respectively but what we are to check and reconsider is that how are the economic situation in our respective system and is it that fair to us? Of course we all have diverse economy that are not the same where many people seems to be that living more better and some are well in first world countries where things aren't that hard like those who are in the 3rd world countries. So this is how our savings could be that subjective as well because most people works and earn less while most people works less and earn much is economic differences so they could be able to make savings and even as that it's not still that easier for the lower bands people.

[nara1892]

We must be able to manage our finances well, by saving more than spending it in my opinion it is not bad but make sure all needs are met. Some people may save less money and that is not wrong because everyone has their own habits and even if the money saved is less than the money used for expenses then it is not a bad thing because the main thing in my opinion is to meet needs but do not think that saving is not unimportant therefore balancing the two is wise behavior.

[Oasisman]

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Saving is cool but pretty thing you should value more than that is investments, it is better to invest more than spending. Saving is simply Saving to spend money later on which is almost like delaying the inevitable.while you are just Saving all that money that isn't doing anything for you there are many ways to put it into good use. You can make money by allowing your money produce more for you.

Also, the money being saved will surely gets affected by the inflation, and it will gradually losses it's value.  A lot of people have not realized this because saving does not bare any risks, other than potentially spending it at one point, just delaying what's inevitable, compared to investments.
Savings are good for emergency purposes. Long term savings is better be invested to something that could preserve the purchasing power of your money.

[Bigjoe158]

Saving money alone cannot guarantee you a good life. Rather than saving money, investment is better. Saving money is good but if the economy becomes bad and the currency loses it's value then the saved money becomes worthless so to speak. But investment brings more money even when the economy is bad than savings. Saving money is good because you will always have money available but investing it will bring more money. Saved money can and will be affected in time of inflation thereby relegating the saved money to nonsense.

[Cointxz]

Saving money alone cannot guarantee you a good life. Rather than saving money, investment is better. Saving money is good but if the economy becomes bad and the currency loses it's value then the saved money becomes worthless so to speak. But investment brings more money even when the economy is bad than savings. Saving money is good because you will always have money available but investing it will bring more money.

It can be if you have a good source of income from your job. Even without investment if your salary is high you can have a good life with just saving money.

Investment is optional if your daily necessities is higher than your salary.

My boss in my previous company doesn’t have any investments but his salary is x5 than mine while my salary alone is already above the average salary in my country. He is living a lavish life with just his salary income.

I think insurance is his only investment.

[Jatiluhung]

Saving fiat currency in the short term is possible, but don't do it for more than a year. This is because, without us realizing it, the value of the currency we hold will decrease every year. Saving more than spending on things that are not really important is necessary. but once we have accumulated money, we must convert it into another form, whether it be gold or other investment instruments.
It is better to adopt a simple lifestyle than to be someone who enjoys extravagance. because in the future, we do not even know what the global economic conditions will be like. We must be prepared for every possibility.