Save More than Spend

[free-bit.co.in]

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.

I advocate investing rather than saving money in the bank for a long time. However, we should add that investing is not only about profit, it also involves risk. All investments involve risk, and the higher the potential return, the greater the risk. Therefore, depending on individual taste and risk tolerance, capital allocation should be done rationally

Do not naively thinking that investing is easy and ignore the risk, then pour all your capital into it. If we invest in that way, sooner or later we will have to pay the price.

[TheUltraElite]

Spending needs to be controlled in my opinion. Learn how to use and reuse your old stuff till you cannot extract anything more from them. Use an Android phone instead of a 10 times more costly iPhone. Cut down on every subscription because you essentially never needed that. Remove alcohol and smoking from your routine and start living a minimal lifestyle. I am sure this will cut down on a lot of costs already. Then look back and see what you actually needed in your previous high spending life.

It is difficult to let go of what we are spending today because we are used to it. Once that is done, think about alternate sources of income.

[Zanab247]

This is the reason financial management is very important for investors to have before going into crypto investment, because it will lead them through buying and selling but if you don't have the knowledge it will be hard for you to succeed as you want in your investment. Not that some people want to spend more than what they receive in crypto investment, but base on what they hear or see about the investment they don't care about the risk involve than to learn to understand the key points to become successful in the future which is the major step new investors should take before involving money in their investment.

When you save from your salary, it will give you opportunity to gather some money that will allow you to invest part of your money in crypto investment, because is not good to invest all your money in crypto investment because you don't know what will happen to the market price in the future.

[Die_empty]

Spending needs to be controlled in my opinion. Learn how to use and reuse your old stuff till you cannot extract anything more from them. Use an Android phone instead of a 10 times more costly iPhone. Cut down on every subscription because you essentially never needed that. Remove alcohol and smoking from your routine and start living a minimal lifestyle. I am sure this will cut down on a lot of costs already. Then look back and see what you actually needed in your previous high spending life.

It is difficult to let go of what we are spending today because we are used to it. Once that is done, think about alternate sources of income.

For those of us who have children, we don't plan or think about ourselves alone. We have to take into consideration not just the immediate needs for our family but the future. You would have to plan for a child who is in high school because he will soon go to college. Living a moderate life is important because it will save costs.

I don't buy things because they are flashy or in vogue; my target is to get quality things at reasonable prices. Durability and functionality matters to me more than luxury. Extra income is invested immediately because there are more expenses to come in the future.  

[Shishir99]

Spending needs to be controlled in my opinion. Learn how to use and reuse your old stuff till you cannot extract anything more from them. Use an Android phone instead of a 10 times more costly iPhone. Cut down on every subscription because you essentially never needed that. Remove alcohol and smoking from your routine and start living a minimal lifestyle. I am sure this will cut down on a lot of costs already. Then look back and see what you actually needed in your previous high spending life.

This is some good advice. However, I would suggest that people not look to their friends and society to see what they are using or doing. Most people try to be cool in front of their friends and society. Let's say my friends have the latest iPhone, while I don't have enough income to get the latest one. I may use all my income and even my savings to buy the newest iPhone just to be cool in front of my friends.

If you look at instagram, most people are just posting their fake lifestyle on instagram. They are trying to look rich on instagram, while they may have debt in real life. So, people should stop following their friends and society.

[coin-investor]

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.

We tend to forget the value of savings when we are earning more than enough. We buy the things that we want instead of focusing on the things that we need.

Taking for granted that everything has an end and that our savings could be our lifeline.
There is a saying that if we keep on buying things that we don't need, we will one day end up selling things that are important to us.

To focus on savings, we have to live simply because we cannot keep living in luxury and extravagance; soon, our income cannot keep up, and we will sell everything and lose the things that matter to us.

[freedomgo]

With or without inflation, we should prioritize saving more than spending if we want not to experience financial crisis someday. Regardless of its amount, we should know how to save our extra money and won't allow to spend it on just unnecessary items.

However, since inflation is giving us a headache, saving these days is so much hard to be realized. But there are times we can set aside our extra money but after a day or two, we end up getting it back again because there is sudden shortage of budget. This is the reality, except for those who have multiple sources of income, saving is never a problem.

[ejikeme24]

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.

Saving in Bitcoin Is a nice suggestion because there you have no business with inflation, when other people are complaining about how their local currency is depreciating you will be there sitting comfortably Because you already moved your savings to Bitcoin knowing fully well that inflation can happen at anytime.the thing is that most folks don't know that Bitcoin is not just an investment that is why they are still finding it hard to invest they feel that it's just an ordinary investment but once they realize that it is more than investment I'm sure they will rush into investing in it.

[Maslate]

This is easy to say but hard to do. Not everyone earns enough, wages are low and inflation is high. Even if you cut expenses, the money you earn may still not be enough. This depends on where you live and how much you earn. If you can save, of course that's the best option, but there are millions of people who can't make it to the end of the month. Maybe the economy is better where you live right now, but we haven't seen any visible improvement. On the contrary, the economy is getting worse every year.

Even for those who are receiving high wages, saving still seems like impossible. Because when you are making a high income, the amount of expenses are high as well especially if you aim to have a more comfortable lifestyle.

Saving is always a struggle for everyone. But I realized, if you really set a goal to save even a small amount consistently, you can really do it. It's just that some of your needs or wants may be compromised just to prioritize saving, that's why others just ignore saving at the moment while their income is still limited.

[Bitcoin_people]

Since we need to increase our savings before buying anything and it is most important to build a good fund. I think that with the current inflation rate, it is better to invest in business because it can give good results in the future. And the most important thing is to collect your own fund before investing because if you do not have savings, you will not be able to buy later when the market is down. So it is necessary to create your own emergency fund somehow, if inflation decreases, it will definitely come in handy, so saving is also important. Along with investing, it is necessary to improve your financial position.

[Disconnecting]

Saving money or investing somewhere are two different things. Savings give us financial security, such as losing a job suddenly or paying a hospital bill, we need a lot of money, from there I would say saving is much more important.

But if along with savings, if you can also invest then your wealth will gradually increase and there is no way to deny this because inflation reduces the value of money saved slowly but investment will always give profit but it is seen that if the economy goes in the wrong direction then investment suffers a lot of losses. So it is wise to balance the two and create a strong foundation for yourself through savings so that you can face any difficult financial situation.

[Faisal2202]

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.

Such a deep post, seriously and it is true, and I have also calculated my expenses increases in summer and decreases in winter, it might not be universal, but for me it is true. Everyone has to invest or keep their funds aside whenever they can save some.

Because spending more and buying useless things might look a good choice because many feels relaxed when they saw their money spent on things they can see, means if someone have $10k and they did not invested or bought anything, instead they used it for clothes they wear ocassinally, or celebrate parties, spend money on girls, and all kind of useless things, not all useless but food too. But if you have bought a bike, or something that benefits you in the long run and not a liability, that's much better.

[MissNonFall9]

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 would like to add one thing to your statement and I hope you will also agree with it and that is, while saving one should keep in mind that it should not be affected by inflation and that it should be possible to earn increasing profits from that savings. Because the prices of all other things including daily necessities, are increasing day by day in the world. So according to your statement, if people choose fiat to save then it can definitely be affected by inflation. So if someone analyzes it as a digital currency and saves it there, I believe that he will benefit enough from it.

[Peanutswar]

Well people have different challenge in life so others can save money and sometimes they have extra money for their spent of course you need to enjoy life at the same time not just a fully hard work. On the other hand, others dont have the chance to at least save money because of the life they have right now. It seems that others are caught in a cycle of seeking debt, working to pay it off, and repeating this process throughout their life. We dont want to have this kind of life, but they dont have a choice so they keep seeking an opportunity to improve their life their status. Now if you dont experience this its good for you if you can capable to make a save ideal to shift the mindset of not only saving money instead invest recently the inflation are too high the savings youve stored for a long term gets a lower value now instead with the investment you can keep earning with a good amount of cashflow at least you can spent for a little.

[8rch7]

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.

Nowadays all countries have increased the minimum wages how to avoid from inflation rates and its balance well how much money purchasing for daily needed from living cost, education cost, transportation outcome until food or drink we spent every day. But if some one still has bigger left from wage receiving better saving for your future how to get financial freedom, just use difference way for saving money not in the bank but seeing the opportunity get increase value of saving assets by holding in bitcoin or buying top and recommended stock exactly for long term holding.
Sometime many people get increase the wage but get increase the lifestyle and forgetting for saving and investing money for their needed in the future, many people after receiving wage and have been allocated all for their lifestyle exactly some one has bad environment difficult allocate few percent of wage for investing.

[whiteblue]

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.

Saving is a good choice to have your cash power, although the opposite of inflation is not bad if it is not more than 10% per year, we need financial strength to have the opportunity to invest in places that can provide decent returns in the future, for example when bitcoin is corrected and you want to buy it, of course without hesitation we will have money to spend on investment plans on the other hand savings are also useful for other needs that you want to get in the future without borrowing from anyone you can buy it without any problems, you can buy anything you want when your finances are safe.

[karabiber]

I don't think saving money is particularly important in an inflationary environment. Because your money loses value day by day due to inflation, and your savings are eroding. When saving, I believe it is beneficial to invest in precious metals or Bitcoin rather than keeping your money in cash. The rise in gold prices over the past year has brought significant gains to those who saved in gold. Those who saved in cash are losing money due to rising prices of goods and services. If you live in an economy with inflation, be sure to save your money in non cash assets.

[EarnOnVictor]

Inflation and other economic woes are the diseases which eat our purse and standard of living deeply, and if we are not careful, they would have wasted our time, plans and resources beyond repairs.

Without repeating your points, savings and conscious spending are parts of the solutions, and ways to actualise savings are becoming easier these days. For example, there are various bank apps offering spend-and-save services. It's good to use them to prioritise savings.

Also, if one is interested in a good asset like Bitcoin, it's another good way of regularly saving your money, which comes with added interests as a more encouraging additional earnings.

[Hamza2424]

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.

For some, inflation is getting bad; for some countries, it is getting better and if anyone, regardless of the country or inflation, is saving some money, then they should keep it invested in btc or in a form where it won't lose value over time. Like the fiat is losing, look at the situation in Iran.

In countries with dictatorships and bad management or external affairs, things get bad, and the currency can collapse. So someone should keep funds saved and invest too.

Even if not invested, then do something with the funds, but don't waste them on unnecessary things.

[HajiBagi]

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.

Saving in bitcoin is the best way for every individual who wants to save for future will do but i don’t advise anyone to save all their money in bitcoin, we know how banks are operating with many charges, monthly fees and other unnecessary fees but we should also save in banks and not use all our money to invest in bitcoin, bitcoin is not what you can sell any time you like when you have financial problems, bitcoin is a long time investment and you have to have the mind of holding for a long time.

When it comes to investing in bitcoin, you should understand that it is not an investment where you wil invest today and get a profit in return in the next few days, invest in bitcoin does not guarantee that you will get rich in time because that is what makes some people invest or save their money in bitcoin, before using your money to invest in bitcoin, you have to understand it before you started saying that bitcoin is not a good investment as you think it will be .