Save More than Spend

[Ishicryptic]

The high cost of living in many countries is very troubling for many average income earners who are on fixed salary structures, as prices of commodities keeps skyrocketing savings becomes very difficult. Many people understands financial management and the importance of savings but they cannot afford to because what they earn can hardly afford their basic needs. The solution to save more than what you spend if your income cannot afford you a discretionary fund is to try and increase your income. This is why skills acquisition is important, never depend on only one source of income to survive, whatever happens to a sole income you will authomatically become poor if you don't have a reserve fund.

[AprilioMP]

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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.

You don't need a large income to save money as long as you can adjust your needs without forcing your will.
Saving money in the sense of remembering what to eat tomorrow is the smallest example that can be interpreted. However, in a broader context, the pattern I mentioned includes vacations, which are easy for me to do. Just prioritize your primary needs. You don't have to follow trends as long as you can still use what you already have. Use things for their function, not for prestige.

[Shishir99]

The high cost of living in many countries is very troubling for many average income earners who are on fixed salary structures, as prices of commodities keeps skyrocketing savings becomes very difficult. Many people understands financial management and the importance of savings but they cannot afford to because what they earn can hardly afford their basic needs. The solution to save more than what you spend if your income cannot afford you a discretionary fund is to try and increase your income. This is why skills acquisition is important, never depend on only one source of income to survive, whatever happens to a sole income you will authomatically become poor if you don't have a reserve fund.

As I posted in this thread before, people just need to stop spending money on buying luxury things. People should not follow what their friends and neighbours are doing with their money. You should manage your money properly and try to save every penny. Don't think about what people will think about you. Even though I suggested these things, I sometimes don't follow them myself. If I make a $200 per month, I will have to manage my life within this budget so I don't get loans. If I want to live a good life, I won't be able to do it. I would be in debt, which would push me backward. There are cheap things that you cannot even imagine. Make yourself comfortable using inexpensive products.

[Cryptmuster]

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.

It is also important not just to save more, but to think about how to preserve your savings. Because if you keep saving and your money is held in the national currency, then with rapidly rising inflation everything you save will be eaten away very quickly. And if hyperinflation happens, there may be nothing left of your savings at all. That is why it is important to save and, possibly, even invest those savings in assets that are not affected by inflation.

[snowpega]

[...]

Yeah, no doubt we should not spend money on useless things or unnecessary things. That is why it is more better to save money and spend on those things that are worth more and are necessary. Over-spending is a bad habit near me. Other than this, there are many occasions that occur in our life where we have to decide or think doubble like whether we should spend money on that event, thing, or not. And making a decision at such a moment in life is the most difficult matter near me.

Have you also faced such kind of situations in your life? where to have to make a decision like that, I am saying? Other than this, I believe that one should focus more on investing money in business assets so that we can make more and more money, so that making decisions on spending money become feel easy to us. What do you think about this? This is my point of view about what you are saying. Must share your opinion with me.

[Marvelockg]

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.

Fact is that there's an high chance that in the coming years, the price of things will go up, the value of fiat will come down and the solution to such a thing will be the use of bitcoin as an edge that will help combat such kind of possibility. If as much as you're earning you're equally spending in such magnitude, you're going to suffer more in the future because apart from the growth in our asset that's associated with holding bitcoin, the fact that you're investing into your future is something that should be given utmost priority to.

Proper financial management skill is something every one should ensure that posses because with such skill, you're able to spend as much as neccesary and save up a good fraction of your earning which will help you have a proper Ballance not just for the moment but for the long term.

[Bluedrem]

It is wise to spend according to your income. If your income is low, then reduce your expenses. You are a flesh and blood person. Remember that you cannot earn all your life and at some point in your life you will have to retire. If you do not have savings at that time, then you will not be able to manage your life well. When you are old, it is definitely important to create savings in advance to spend. So when you are able to earn, develop the mindset of saving instead of spending unnecessarily.

[passwordnow]

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.

[Furball808]

Those who depend only on one income but spend like there is no tomorrow will definitely find themselves suffering at some point. Life is so unpredictable and there could be instances wherein you would need to get money for an emergency.

This is why skills acquisition is important, never depend on only one source of income to survive, whatever happens to a sole income you will authomatically become poor if you don't have a reserve fund.

[Hanadawa]

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.

I think this is a reality everyone should accept. If anyone were asked about saving, I think everyone would say they should save more than they spend, as that's one of the keys to success. However, as you said, most people are good at talking but have difficulty putting it into practice. The higher your income, the greater your desire to buy the things you dream of. I'm sure everyone has their own dream items. If I had extra income this month, I'd also consider buying the latest gadget, as my current one is getting older and slower. It takes more effort to manage your finances to be able to save with an average income.

[dunfida]

[...]

Yeah, no doubt we should not spend money on useless things or unnecessary things. That is why it is more better to save money and spend on those things that are worth more and are necessary. Over-spending is a bad habit near me. Other than this, there are many occasions that occur in our life where we have to decide or think doubble like whether we should spend money on that event, thing, or not. And making a decision at such a moment in life is the most difficult matter near me.

Have you also faced such kind of situations in your life? where to have to make a decision like that, I am saying? Other than this, I believe that one should focus more on investing money in business assets so that we can make more and more money, so that making decisions on spending money become feel easy to us. What do you think about this? This is my point of view about what you are saying. Must share your opinion with me.

It wouyld be that totally suicide if you do make spending on which is more than on what you can afford to lose. We do have always that saying that live by your means and not on wants. If you would be spending like a madman or having that lavish lifestyle on which it wont be  that getting in line with your income then sooner or later you would be that sleeping on the streets. Save more than on what you spend is definitely the most important that thing that you should gonna do if you dont like to mess up your life then you should be that mindful when it comes to spending. Never ever make yourself having that kind of lifestyle on which you are buying unnecessary things or spending into something which is useless. But if you are someone who had been able to achieve the pinnacle of success then this is the time that you would be buying the things you do want before.

Of course everything should be that still in moderation because we do know that there's no such thing about infinite funds or unlimited money on which if these are being that spent unwisely then expect on what would be next.

[batang_bitcoin]

Those who depend only on one income but spend like there is no tomorrow will definitely find themselves suffering at some point. Life is so unpredictable and there could be instances wherein you would need to get money for an emergency.

And they'll likely to lead themselves into taking loans. They can afford things for now but if it's about the most important possessions that they are looking forward, since they are not savers, the tendency of them to become borrowers is very high. Earning with a single income is not enough in the modern world today. That's why we prepare for unforeseen events in our lives, we save money to invest, we save for emergencies and we save for our future. Anyone who hasn't figured it out yet on why things are hard on them financially, they've got a serious problem that they have to solve.

[demonica]

In a lot of cases, salary increase isn't even usually enough with how the inflation rate skyrocket. Like here in my country, usually you get salary increase once a year. But that increase isn't even that much. It's only a small percentage of increase and you have to wait for a year to get it. While within those 12 months, the cost of things have already increased several times.
It's only applicable for those who have a high jump with their salaries. And when they experience this, it's normal for people to start spending more because of joy, being able to afford things you can't afford before... Though it's really important to save instead of just spending a lot just because you think you have extra money you could spend.

[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.

[Minor Miner]

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.

To be honest, I'm one of them. I proactively increased my living expenses as my income rose. Because my goal in working hard and dedicatedly is to provide a better life for my family. Therefore, I do not see anything wrong with that. How can that be called a mistake when I'm improving my family's quality of life by providing them with cleaner, higher quality food? Or a better living environment for my loved ones.

The future is important, but if we neglect the present for the sake of the future, all our efforts will become meaningless.
I'm not saying we should be wasteful when our income increases, but instead, we should balance things out.

[Y3shot]

Savings is very important and no matter what one is earning their is no excuse to give why one is not able to save money. Most times people give excuses the reason why they find it difficult to save money is because they earn low but this is not good enough to use as excuse. When one is earning low, it is important to try to be conscious on how one spend, and to make sure to try to spend wisely and to gather up some money. Discipline is all you need to save money, this is a character one needs to develop to achieve better result in savings.

[Lida93]

Saving more than spend is good thing to do because we can prepares our future and ready with anything. We will have extra money that we can use for anything especially in the future.

If you can have more extra jobs, you can earns more money and you can saves it.

We should reducing our expenses and not just buying the things that we really don't needs. Our future still long so we must prepares from now on to be ready.

Instead saving your money in banks, you can invests in Bitcoin. But if you want to invests in other things, that will be up to you. That is your plan so you need to be careful to runs it.

Being able to save more than we're spending can be very difficult in this current inflationary economy that everyone is managing to go by. It's where you don't have bills to settle , project at hand to start or complete that's when you can have much funds to save while spending less because obviously there are needs we can't forgo as much as we try to spend less.

Having savings is paramount no matter how little, and also having our savings in the right form and custody that it doesn't lose value over a long time is something to consider too.

[Rockson1]

Savings is very important and no matter what one is earning their is no excuse to give why one is not able to save money. Most times people give excuses the reason why they find it difficult to save money is because they earn low but this is not good enough to use as excuse. When one is earning low, it is important to try to be conscious on how one spend, and to make sure to try to spend wisely and to gather up some money. Discipline is all you need to save money, this is a character one needs to develop to achieve better result in savings.

People will always come up with many excuses why they are not able to save even when we know they are working, to save is part of discipline, this is something some people are not use to, I know about some persons that earns a good amount of money, infact they have different source where money comes to their Pocket but they finds it difficult to save and even if you advise them to save they see as if you are trying to talk them into something they do not want to do, there are people that earn big from where they work but they do not have any investment, there reason I do no know, whether anybody is earning high or low, we all should be on check how we do our expenses.

[BlackBaron]

Savings is very important and no matter what one is earning their is no excuse to give why one is not able to save money. Most times people give excuses the reason why they find it difficult to save money is because they earn low but this is not good enough to use as excuse. When one is earning low, it is important to try to be conscious on how one spend, and to make sure to try to spend wisely and to gather up some money. Discipline is all you need to save money, this is a character one needs to develop to achieve better result in savings.

I remembered that when I was in school, I used to save money even though it was not the money I earned from working but the pocket money from my parents. But it was a very important lesson that my parents taught me to be wise. Even though it might be my pocket money, it doesn't mean I have to spend it all, but I have to be able to manage it, one of which is by saving.

Well that has carried over until now, it's just that now we recognize investments and so on. So what my parents taught me when I was a kid is very useful and indeed very felt.

[khiholangkang]

That is a very long view of how we grow old and we have to prepare for it now by having savings, meaning we have to cut down on expenses, especially unnecessary shopping will make us more mature in life spending, and more specifically we don't know that we will be sick, injured, unlucky and other bad things that require costs to fix the situation, because there is no calendar for such things, like the saying "prepare an umbrella before it rains", then that sentence will relate to saving more for the future.