Save More than Spend

[icebar]

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.

For financial security, a person can invest in any platform according to his convenience. But it should be remembered that any investment is risky. If we think that it is not possible to find an investment that is not risky. However, there are some who will choose how to save or where to invest by considering the convenience and the business plan. Some are currently trusting in gold because they think that the dollar can fall at any time. That is why gold is now considered very safe for investors to maintain its value. Some are collecting Bitcoin for the safety of their business. Everyone should save. Those who cannot save will never be able to achieve their goals. That is why we must have a saving attitude. If the amount of expenses is more than the income, then he will never be able to profit.

[wiss19]

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.

Unfortunately, there are still some truth to it for some people and we just can't see it because we are in debt. I mean in theory, there are people who are buying the latest iphone even when in debt, and those people do deserve those kinds of advices, they need to save instead and they do not and they just buy stuff instead and live a terrible life. That advice is for them, not for you and me because our situation is different.

I am in big debt too, trying to get out, small amount left hopefully, but at the end of the day we are going to see nothing great about this at all, so we gotta realize that this advise isn't for us. What we need is just sustain for a small while longer, until our debt is over and then we will live with our income and salary without debt when that debt is finally paid off.

[Dictator69]

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.

You made a very notable point sir, we might not realize this in that moment but you have and I am earning money right now and I am also spending more instead of investing, but I am spending to make some good moments, I beleive making some good moments and not worrying about the time while you have money in your pocket is not a bad idea even in the future we might regret it.

So many times, I had extra funds, I wanted to buy something, but I did not buy that, instead, I bought something in lower price that could also fulfill the desired work of the tool I was going to buy in high price. For example, buying an Android phone instead of IPhone etc.

Why, to save that money to buy another tool for my life or to help someone else, or to gift something to my family but it may sound selfish but I am not, but we must buy what we want and should not worry about the future that much.

But from an investment point of view, we must think.

[clifaduna]

Save more than you spend. Sounds easy, doesn’t it? But in practice, it often turns out to be the opposite: one unplanned purchase leads to another, and before you know it, your wallet is empty faster than you would like.

At the end of the month, count how much has been spent on all sorts of small things that you could do without. You will be surprised! Now imagine that this money didn’t go anywhere but went into your piggy bank, which you could use to invest in bitcoins.

The main thing is not to deprive yourself of everything, but to learn to catch the moment when you actually need it right now. Ask yourself this question, and you will be one step closer to saving. Next, when you understand this, you can plan to regularly buy a small amount of bitcoin, which will definitely contribute to your profit in the future.

[yixichloro2xx]

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.

For financial security, a person can invest in any platform according to his convenience. But it should be remembered that any investment is risky. If we think that it is not possible to find an investment that is not risky. However, there are some who will choose how to save or where to invest by considering the convenience and the business plan. Some are currently trusting in gold because they think that the dollar can fall at any time. That is why gold is now considered very safe for investors to maintain its value. Some are collecting Bitcoin for the safety of their business. Everyone should save. Those who cannot save will never be able to achieve their goals. That is why we must have a saving attitude. If the amount of expenses is more than the income, then he will never be able to profit.

You are right, every type of investment we make comes with risk, whether low or high. And moreover our investment choices should depend on our income level, goals and time. Gold had lots of historical background which makes it trusted worldwide whereas Bitcoin offers fixed supply and self custody, both of them serve different roles. Saving helps alot, from it is where you invest. Then we should also try and have little knowledge on what we are putting our money into, so that we wont invest blindly. Investment requires enough patience, with that you will surely see massive gains in the long term.

[Iranus]

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?

USD may depreciate more slowly compared to the currencies of some other countries, such as your country's Naira. However, it is still depreciating rapidly over time, and holding it will not protect you from inflation like other assets such as gold or bitcoin.

If your national currency is depreciating too rapidly, switching to USD is not a bad solution in the short term. But if you hold it for 10-12 year and think it can protect you from inflation, that is a misconception

The idea of ​​holding USD instead of the national currency to avoid inflation is a bad idea. If you do not believe me, look at the exchange rate of gold/USD or BTC/USD 12 years ago and now

[Supreme Donvic]

I totally agree with you. It is better that we are saving more than we are spending as for me. I usually save money in order to start an investment or a business. We know that we can start up a business even with the little money we have but businesses are indifferent categories. There are some business that requires good amount of money for you to start up however, any business you want to go into need a start of money it may be small or big but whichever way in order to raise that money for the business or investment you need to save, so savings is very important and what you use it for after saving should be for business or investment because if you use it for the wrong thing then your savings is meaningless.

[348Judah]

Maybe another question we have to ask ourselves is how often do we save or invest are we spending or we are saving to invest for the future, it's a serious question that we need to give an answer to which category will belongs and why because we must be more conscious of the future ahead of us if we don't want to be fully disappointed in life at last.

[Sarah_Jannat42]

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.

Every person in the world lives in hope, so they all have hope for their future that they are expecting something good for them in the future. So those who are middle class or lower class all keep some part of their income as savings. But many people save their savings in fiat currency which exposes their money to the threat of inflation. But if they knew money management then they would have invested their saved money in good places. Even if they at least knew about Bitcoin then I think they could have benefited a lot by studying some studies or statistics and keeping it on a long term basis.

[MFahad]

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.

I share the same view that saving money in fiat can be affected by inflation. But I look at saving in a different way. Many people think saving only means putting money aside. saving is not just about collecting cash. I believe real saving means learning and gaining skills. Adding skills to your personality is actually a form of saving because it helps you create capital for future opportunities. Only saving money cannot secure your future. The more skills you learn, the safer your future becomes.

Sometimes we need to spend money today so that we can benefit tomorrow. But this spending should be on learning skills. In that way spending itself becomes saving. Skills increase our value, create new opportunities, and help us earn more in the long run. Money can be lost at any time, but no one can take away our skills. They protect us during difficult times. That is why investing in learning is one of the smartest ways to save for the future.

[justdimin]

USD may depreciate more slowly compared to the currencies of some other countries, such as your country's Naira. However, it is still depreciating rapidly over time, and holding it will not protect you from inflation like other assets such as gold or bitcoin.

If your national currency is depreciating too rapidly, switching to USD is not a bad solution in the short term. But if you hold it for 10-12 year and think it can protect you from inflation, that is a misconception

The idea of ​​holding USD instead of the national currency to avoid inflation is a bad idea. If you do not believe me, look at the exchange rate of gold/USD or BTC/USD 12 years ago and now

It's the comparison that you gain, like if your own fiat is quicker to rapidly go down, and USD is not ,then holding USD instead of your own fiat is an "investment", but considering you are investing into something that is losing value, there is no logic in it at all.

You should be investing into gold, silver, bitcoin or even stocks if you can pick a good one. This is why it is going to be quite obvious that we are going to get the results that we want if we are investing into something that gains value and not just lose less. USD would be losing less, it is not gaining more, and bitcoin is loved by everyone so much because of it, since it is not losing, it is gaining value over time if you can wait long enough.

[sunsilk]

Maybe another question we have to ask ourselves is how often do we save or invest are we spending or we are saving to invest for the future, it's a serious question that we need to give an answer to which category will belongs and why because we must be more conscious of the future ahead of us if we don't want to be fully disappointed in life at last.

It is a serious question because it determines what kind of person we are in terms of how we handle our finances. If we often save then that shows how good we are and savvy.

And if we often invest, that shows how responsible we are as a working person because we know that our money should work for us in the future after all of the hard work we've done.

But if someone can't do either of it, and they're packed with burden and responsibilities. They need to reflect on themselves if all of those responsibilities should be them. Because they are forgetting themselves and they have to protect their own future by saving and investing.

[Jody.Drummer]

Maybe another question we have to ask ourselves is how often do we save or invest are we spending or we are saving to invest for the future, it's a serious question that we need to give an answer to which category will belongs and why because we must be more conscious of the future ahead of us if we don't want to be fully disappointed in life at last.

That's a good question, my friend. Of course, people who think about their future will try to prepare for it by working hard and consistently trying to earn money, which they will then save or invest, because that is one way to prepare for a good future. And when I think about myself, I balance things out, so the income I earn is used equally for my needs and for saving. Don't force yourself to save more if it worsens your livelihood.

[dunfida]

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.

Unfortunately, there are still some truth to it for some people and we just can't see it because we are in debt. I mean in theory, there are people who are buying the latest iphone even when in debt, and those people do deserve those kinds of advices, they need to save instead and they do not and they just buy stuff instead and live a terrible life. That advice is for them, not for you and me because our situation is different.

I am in big debt too, trying to get out, small amount left hopefully, but at the end of the day we are going to see nothing great about this at all, so we gotta realize that this advise isn't for us. What we need is just sustain for a small while longer, until our debt is over and then we will live with our income and salary without debt when that debt is finally paid off.

You wouldnt be able to realize it not until at the time that you would be that facing up some difficulties. You are the ones will be needing up to make out some adjustment basing up on what you do earn and thats common sense. It is just that there are people who do easily get hooked up whenever they do see those liabilities around or something that you dont need but still you do consider on buying it out just because you do want to impress other people on which this kind of mentality is something that would make you poor in the long run. I dont know on whats inside of other peoples mind on why they are thriving on getting the praise from other people or  they do want that there's something good to be say to them without even minding about on other important thing like your future. We do know on how much these things cost and if its something which is way more than on what you earn or outside your budget then you should always be having that reconsiderations whether you would be buying or not.

Live by your means and not on your wants and this is something that you should be putting up on your mind if you dont want for your financial status or condition would be ruined up just because of having that uncontrolled spending.

[AGogi2003]

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.

If you're saving you should be investing too so that everything can comes easy for you, because if you're saving and you don't really have any investment that can be double your funds your saving can just go one times and lose everything because when you need funds and you used all your saving money you won't have anyone more to hold but if you're into investment that can help you alot. As for me I prefer to be investing my money then just keeping it in bank for saving is better i should invest it in bitcoin for long term that can be increasing gradual since am not in need of the funds for short term but if the saving is for a business you can keep it in bank so that you can minimise your risk in it and anytime you need it you can get it back immediately.

[Tmoonz]

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.

Save more than spend you spend means that you are earning very well and have less essential needs that you are taking care of, it is a nice position to be earning more than you spend but the truth is that it is only few that can be found in such situation but however, it is an encouragement to save even as little as possible after which the necessary basic needs are always taking care of, while the contrary it doesn't make any sense to be saving when you things important things to take care of all in the name of trying to save more than you spend.

[7juju]

Edited out.

Save more than spend you spend means that you are earning very well and have less essential needs that you are taking care of, it is a nice position to be earning more than you spend but the truth is that it is only few that can be found in such situation but however, it is an encouragement to save even as little as possible after which the necessary basic needs are always taking care of, while the contrary it doesn't make any sense to be saving when you things important things to take care of all in the name of trying to save more than you spend.

You are right, some people always talk about saving more than you spend, but in reality not everybody can do that, because they are incapacitated to save. The size of your family and people who depends on you will determine if you will have savings or not. There are people that their salary are barely enough to carry them to the next pay cheque. So how can people who find themselves in such situation be able to save more than they spend, when they are struggling to manage what's available till the next pay day. At the end of the day you just realised that you are just working to survive first before you think of saving.

[Etranger]

Maybe another question we have to ask ourselves is how often do we save or invest are we spending or we are saving to invest for the future, it's a serious question that we need to give an answer to which category will belongs and why because we must be more conscious of the future ahead of us if we don't want to be fully disappointed in life at last.

That's a good question, my friend. Of course, people who think about their future will try to prepare for it by working hard and consistently trying to earn money, which they will then save or invest, because that is one way to prepare for a good future. And when I think about myself, I balance things out, so the income I earn is used equally for my needs and for saving. Don't force yourself to save more if it worsens your livelihood.

It’s always easier to save money when you have a clear understanding of the goal and the reason you’re doing it. Simply setting money aside for a “rainy day” is extremely difficult, because the temptation to use those funds is quite strong, and very few people can resist it if there is no clear sense of purpose, no clear answer to why you are doing this and why you are limiting your desires now in favour of the future.

[9ja Amaka]

It's a good thing that inflation has dropped a little and has made people have extra cash, since they now spend less in some of the commodity during the time of inflation.  Saving right now is really a good idea, because it's very possible that the inflation will be back in no time, but the issue with most people is that they tend to increase their spending power when they have extra cash, instead of saving or better still divert the extra cash into an investment that can help you yield profit from the extra cash you are getting. Any good thinking human should realize that this is the time to save more or invest the extra cash for future purposes,  because the future can not be predicted.

[Nheer]

Maybe another question we have to ask ourselves is how often do we save or invest are we spending or we are saving to invest for the future, it's a serious question that we need to give an answer to which category will belongs and why because we must be more conscious of the future ahead of us if we don't want to be fully disappointed in life at last.

That's a good question, my friend. Of course, people who think about their future will try to prepare for it by working hard and consistently trying to earn money, which they will then save or invest, because that is one way to prepare for a good future. And when I think about myself, I balance things out, so the income I earn is used equally for my needs and for saving. Don't force yourself to save more if it worsens your livelihood.

Many people are not thinking in this way rather most people only prepare for the present and take life the way it comes, they don't really think of the future. There is a saying that how you lay your bed that's how lie on it, that's just how it is with planning for the future, when you plan now you are arranging your life for the future and it's difficult to work hard and not get results in the futire.
No matter what you earn it's possible to plan with it and still find a way to invest for the future but no matter what don't sacrifice your necessary needs just to invest, always make sure you have sort out your daily expenses and invest only what you can afford to lose.