Save More than Spend

[HelliumZ]

This may be the basic principle of family finances, but in reality, it is not possible to save more than you spend. If I were to explain the matter in terms of my financial system, I cannot maintain a balance between income and expenditure. From the monthly salary that I receive, there is no money left after combining family expenses and personal expenses. As a result, it is not possible for me to save by reducing my expenses compared to my income.

Due to rising prices, low income, and increasing population growth in my country, family maintenance costs are constantly increasing. Due to this, it is very difficult for me to manage and save money on a small salary.

[Akuma_]

This may be the basic principle of family finances, but in reality, it is not possible to save more than you spend. If I were to explain the matter in terms of my financial system, I cannot maintain a balance between income and expenditure. From the monthly salary that I receive, there is no money left after combining family expenses and personal expenses. As a result, it is not possible for me to save by reducing my expenses compared to my income.

Due to rising prices, low income, and increasing population growth in my country, family maintenance costs are constantly increasing. Due to this, it is very difficult for me to manage and save money on a small salary.

Of course, in the current context, people's incomes are decreasing according to the price of goods, which makes saving for the future a problem.Due to the rising cost of living, people have to work extra hard to maintain a better standard of living compared to their monthly income. In addition, there are many families who are dependent on one person.As a result, the main breadwinner of the family falls into trouble and spends his life in mental anguish, which leads to physical and mental problems.

[Royal Cap]

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.

I agree but I think mental aspect is also very important along with knowledge. Many new investors know the basics yet end up losing money due to the inability to control their emotions. When it comes to investing the money you need, even small movements in the market provoke fear. Saving up first not only makes money, but gives you mental peace as well. Crypto actually rewards patience more than intelligence, It's not necessary to know everything but it is very important to know your limits.

[Findingnemo]

Save some money because the Inflation rate is not rising doesn't look like a valid claim, might be possible but it doesn't make a huge difference in the amount of money saved, probably a few 5 dollar bills will be the maximum one can save from the monthly budget. If you want to save money then reduce the spending or increase the revenue no matter the inflation is on the rise or it is in the deflation.

[Youngrebel]

Saving is good but still, it won't create realistic changes if you won't pursue real investing. It's where you make more valuable money once you start to invest on the right assets like bitcoin.

Save more and spend less, that's right. But as long as you have a regular source of income, never stop saving and investing as well so that in the future when you no longer capable enough to sustain a job, then you have your investment that will serve as your back up when your savings start to decrease its amount.

True but most people are so myopic in their line of taughts that the fail to realise that there is a future after the present job they are doing.  They only think of the present benefits they enjoy.  More reason why they a few people struggle after their retirements because there was no plans to fall back to gor financial sustenance.

[Marykeller]

Saving more than spending is one of the habits everyone should try hard to develop as a character because of the unforeseen circumstances that could come someone's way at a time they didn't expect.

If you check, saving builds a safety net, and it reduces the stress of running around for sorting funds when an emergency comes up. I would advise people to prioritize saving for their peace of mind, no matter how little their income is,

[Kelvinid]

The concept of saving is that people do not need to start saving a significant amount. What we all need is the consistency to set aside extra money and save it regardless of the amount. If this is the mindset of the people, surely we will all be able to save, and probably enter investing later.

But if we'll ask the majority about saving, they will only save if they have huge amount of income and gain huge amount of extra money. But the question is when are they making a huge income? This is good to say that as long as they don't increase their income, they won't have to save and just spend everything they got.

[Ziskinberg]

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.

The idea of saving will never be seen as a priority if the people are just earning enough to make their ends meet. Because what's there to save actually when all the budget can hardly even fit all the family's necessities, so saving could be later done or shall we say, its not gonna happen at all, and just resort into taking a loan when emergencies arise.

While this is not a good practice, but what these people can do if they really have enough means to save. That's why I conclude saving isn't for everyone, even though it should be a must.

[Makus]

it is better to invest more than you spend, this is actually what helps you more instead of just saving. Saving money simply means that you are just keeping it to spend in the future which is almost like delaying the inevitable. let's assume you save some money from now till 2030, you are only going to spend it later on and the value of what you have might be depreciated due to the economy and inflation rate, there's no value that would be added to it but if you invest in bitcoin in a few years you are going to make more profits.

[Pandorak]

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.

Making money is not easy, even when you are already working, and it is possible that your income will not be enough to meet your increasingly high living expenses. Therefore, we should be more careful in managing our money, reduce our lifestyle, and buy things based on our needs rather than our wants. We must be able to save money in this era of high costs. If possible, it is better to save the money, and if there is any remaining income, it would be more useful to invest it in investment instruments such as Bitcoin. Slowly but surely, you will reap the benefits in the future from what you build now.

[sleepfirefly]

the smartest thing to do would be to invest any extra cash whether that is in the form of business or any asset like crypto or gold since saving money yes you have it in case of emergencies but when inflation strikes and the value of the currency goes down then you were not able to protect the saved money

[michellee]

Saving more will be important than just spending. We don't know how the future is so we must prepares for anything. If we needs more money, we can searching for additional jobs that give us money. But we should checks on our needs first to see if there is something we can do about.

We can reducing expenses so we will have more money and invest in something that can gives us profit. We knows Bitcoin so we can uses as our main investment. Having an investment is important to gives us more money in the future.

[abhiseshakana]

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.

With the condition you describe, i think it is the perfect time for you to reviewing your financial foundation for your financial safety in the near future. Technically it is saving but for me i do budgeting (allocating my money based on my live priority not only spare money in the end of month) The difference with saving, i set budged post from beginning with priority; safety and then stability, followed by growth, and the last is lifestyle. You can start with 3-6 months emergency fund deposited on the most stable and liquid asset (i choose gold bar) do not save in crypto, if price drop you will stressed. If you in the financial survival mode try rebalancing your cashflow with simple formula routine income must be bigger that routine expenses. Zero debt very important to keep you live without pressure, try to settle all your debt especially with interest. After all those threes you can set stability post budged such as savind and protection. Even poor family must do budgeting for financial control and rich person usually  make budged the differences only on its flexibility.

[iBaba]

~~~

True but most people are so myopic in their line of taughts that the fail to realise that there is a future after the present job they are doing.  They only think of the present benefits they enjoy.  More reason why they a few people struggle after their retirements because there was no plans to fall back to gor financial sustenance.

Look at the ironic part of everything. Saving of your funds is always the best decision anyone on earth can take being a bitcoiner or a user of the fiat currency but the funny thing is that it is far more easier for you to spend your resources than for you to store them, yet if you are asked, you will always prefer to save than to spend by default. Why is it like that? Just a rhetorical question I believe everyone has an answer to and today you will see different occasions where people are always regretting why they did not accumulate rather than spending.

That is because spending is not something you can completely avoid but you can avoid not to save your resources becusee that looks like a more difficult decision to make in the middle of your necessities. So, if you want to save your funds which is generally more profitable than spending, you will have to make some stringent decisions on your financial management to make it work for you which requires discipline and responsible spending.

[LastKiss]

If the minimum wage increase and people tend to spend more, I think that’s understandable because people usually manage their money carefully to fulfill their daily needs and avoid wasting it. When the minimum wage increases, they may spend more either because of inflation or to buy things they couldn’t afford in the past. Except for those who receive salaries double or triple the minimum wage they should be able to save in assets that hedge against inflation. However, many people with decent salaries choose to spend their money on lifestyle following the trend. That’s really unfortunate for them and may cause regret in the future.

[free-bit.co.in]

it is better to invest more than you spend, this is actually what helps you more instead of just saving. Saving money simply means that you are just keeping it to spend in the future which is almost like delaying the inevitable. let's assume you save some money from now till 2030, you are only going to spend it later on and the value of what you have might be depreciated due to the economy and inflation rate, there's no value that would be added to it but if you invest in bitcoin in a few years you are going to make more profits.

But to invest, you must first have capital and to get capital, you need to save and accumulate it first

Saving is the foundation of any financial plan, without saving, any investment plan is unlikely to be sustainable

Furthermore, investment does not guarantee profits. Investing always involve risk, and if you lack sufficient knowledge, you risk losing everything you have

Investing to increase wealth is no secret and everyone knows that. But the problem is that it is not easy, and not everyone is willing to take the risk.

[wmaurik]

the smartest thing to do would be to invest any extra cash whether that is in the form of business or any asset like crypto or gold since saving money yes you have it in case of emergencies but when inflation strikes and the value of the currency goes down then you were not able to protect the saved money

Saving has a very broad meaning for everyone because, essentially, everyone can choose from several options for saving, which in this case aren't limited to cash, but can also be in other assets like gold and Bitcoin, which still have quite strong fundamental value. So, don't just focus on fiat money when saving. The most suitable assets for saving are those with stable value and a tendency to increase annually. This is certainly true of gold, as is also true of Bitcoin, as Bitcoin also has a more frequent four-year increase cycle.

[atookz]

Yes, you are right, it is an element of a good financial policy in the face of a shaky economy. The rise in disposable income with the falling prices should not be instantly succeeded by the consumption growth. It is a chance to consolidate your financial status. Saving more is a fact, but the emergency fund should be increased as well. Why do you need to increase your emergency fund? Since the emergencies may occur anytime and the individuals may find it hard to save because of the emerges. As such, an emergency fund should also be available, to enable you save more.

And do not forget you can save and also invest. This is a secure method of addressing potential upsurge in inflation and economic pressure in the future. And just to keep in mind, investing is not about making instant gains, it is about sustaining and constantly increasing the worth of what you own. Saving is not the only way of avoiding unnecessary spending, but financial preparedness and control.

[Uhwuchukwu53]

If I understand the saving than spending, it depends on the angles one save because some saving, if it's in some of bank it amount nothing as the charge and frustration is disappointing, I don't believe in savings fiat but prefer on investing it on what will regenerate more income, that is the best to save more money, I realized in the past when I keep small cash in the bank back them the value of the cash reduce as resulted by inflation and Worth nothing. I used it to compared to the time I deposited the money and if I have invested it in landed property or other business, it would have been of more value and generated more income saving in keep cash is not saving because the value of the cash will keep reducing investing in is more better than anything else.

[lovesmayfamilis]

I would prefer to create additional income for myself, which will come from the saved funds. Yes, today it requires spending money wisely and planning for the future, but these savings should not consist of accumulating unclaimed funds. Any "extra" funds should bring additional income.