Save More than Spend

[sleepfirefly]

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.

I can’t agree that using savings for anything other than investments or business is pointless. Savings can be used for travel or for improving one’s health, for buying a home or a car. These are all equally important and worthwhile goals. Of course, if there is access to cheap consumer credit, that need may diminish, but overall savings have far more possible uses than just investments and business.

savings could also be used for emergencies life is unpredictable we never know what could happen. should you ever need a pretty big amount of cash for some reason then it’s good that you can get money from somewhere without worrying too much.

[BALIK]

Your advice is good. It's indeed better not to save cash, especially in these uncertain economic times, as cash will lose value due to inflation. Therefore, it's best to only hold enough cash. Savings or emergency funds can be transferred to gold, as gold is easily exchanged for urgent needs.

Unnecessary spending should be reduced as this is a bad habit for your finances in the long run. You should get used to using money wisely to achieve your goal of financial freedom. Therefore, you must have a long-term plan for managing your finances, investing in Bitcoin and using gold as savings or an emergency fund.

Gold is considered a fairly stable asset, but using it as an emergency fund is not as good or safe an idea as you might think.

In just the past five day, gold has fallen from $5,500 to $4,400, a decline of roughly 20%. As you can see, even assets considered safe havens can experience significant short term volatility. If you were in this situation, what would you do if you needed money but your emergency fund was reduced by more than 20% due to gold price fluctuations?

Fiat depreciates over time, but it will not fluctuate and lose 10-30% in the short term like investment assets. Therefore, fiat remains the best choice for emergency fund. Bitcoin and gold are only suitable for speculative and longterm investment

[bisdak40]

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.

Yeah I really see many people like that where they elevate their lifestyle and spend more than their means where they have little to none on saving. I also get that saving is important but i think it is important also that we invest to double money but it needs a lot of research to know how to invest. at this time we need to be financially smart and know how to handle our finances because of the inflation buying things you want is not bad but don't spend beyond your means

[Leahized]

Unnecessary spending should be reduced as this is a bad habit for your finances in the long run. You should get used to using money wisely to achieve your goal of financial freedom. Therefore, you must have a long-term plan for managing your finances, investing in Bitcoin and using gold as savings or an emergency fund.

Yes your plan is very good but there are very few people who spend money unnecessarily. If the amount of daughter is more than our income, then it will be very difficult to save. And many times it can be seen that money can cause stress in different ways. If someone's income is more than his expenses,Then he can save money as an emergency fund. And can invest in different sectors. In this case we should do everything according to rules and spend money accordingly. Then it is possible to advance in the future even if the income is small.

[fuguebtc]

Yes i agree with you, money saved are easily spent than the once invested be it in small or big business that may generate profit gradually. I will use myself as a case study, during school days i found favour in the sight of God and i was blessed financially in a little way, instead of investing the capital for it to yield profit i saved it in the bank with hope that it is save without knowing that is the worst mistake one will ever make, after graduation when i was planning to use the money problem came and all was spent without receiving any profit at last. But assuming i invested it, don't you think it would have generated profit and multiple till where i may have become stable financially. That is why it is better investing than saving because the money saved is not save

What guarantees that if you invested that money instead of saving it at that time, you would not lose it all? Because I guess when you were in school, you did not have any knowledge about finance and investing. And investing without knowledge is gambling, and losses are inevitable.

Investing does not always guarantee a profit, and it involves risk. And there are many other ways to make money grow, so let's not overemphasize investing and neglect other thing.

Investing and saving are both important and play different roles in our lives. What we need to do is find a balance between them, not choose one over the other.

[CONVOAI]

What guarantees that if you invested that money instead of saving it at that time, you would not lose it all? Because I guess when you were in school, you did not have any knowledge about finance and investing. And investing without knowledge is gambling, and losses are inevitable.

Investing does not always guarantee a profit, and it involves risk. And there are many other ways to make money grow, so let's not overemphasize investing and neglect other thing.

Investing and saving are both important and play different roles in our lives. What we need to do is find a balance between them, not choose one over the other.

Yes, you are right. That's why financial experts always say to keep an emergency fund and then invest the rest. Investing your entire savings at once increases the risk. Before investing, you should carefully check the return on investment and risk factors.

[Oshio-man]

Instead of just saving cash, I would say to keep an emergency fund and invest the remaining savings in different sectors because it is better to invest that money than to leave idle money. Now we have to see which sector will give more return if we invest. Many people buy shares of companies while many others buy other assets like gold etc.

You can be saving your funds in bitcoin and still be saving for emergency funds in case anything happen, it will be easy for you to use the emergency funds to solve the financial issues and move on with your plan not to touch your bitcoin, if you also decide to divide your capital to invest some in other investments it will help you not to lack what to spend or what to consume because the funds is there to acquire what you want from all your investments, i think bitcoin investment will give huge amount of income than others investment because other investments will be bringing little income but if bitcoin price increases higher it will make you to understand the reason why some  investors prefer to add bitcoin to their investment.

[Cookdata]

Yeah I really see many people like that where they elevate their lifestyle and spend more than their means where they have little to none on saving. I also get that saving is important but i think it is important also that we invest to double money but it needs a lot of research to know how to invest. at this time we need to be financially smart and know how to handle our finances because of the inflation buying things you want is not bad but don't spend beyond your means

We are making reference to people but I think a perfect example of OP topic is a country. You can't spend more than you earn, so many countries want to leave large and want to put their countries visible on the world map but they don't have what it takes to makes the momey. So instead, they to China that are cheergivers and IMF with corrupt policy for loans they may not have time to pay back as long as you become their puppet and don't go against them.

This debt are accumulated by different government and after a long period of time, you will found that a country might be holding other country's debt, what they are even earning at the moment as yearly budget isn't close to half of the budget the make as in the country. There is also budget budget supplement, this things together makes a country remain poor. The way countries spend recklessly is the same way people spend money without savings.

[Juicyhome]

Savings strategically is the main thing, you can save and still be poor if your don't have a target for your savings, you will be like a farmer that save his harvest instead of selling them off till they got spoiled or replanting them. When you save have a target for the money, what to invest in before you save towards it.

Spending should have a budget just as saving, and the budget should not be extended until you have another source of income, and never spend more than your earn, else you be broke without achieving anything with your salary or income.

[blockman]

Savings strategically is the main thing, you can save and still be poor if your don't have a target for your savings, you will be like a farmer that save his harvest instead of selling them off till they got spoiled or replanting them. When you save have a target for the money, what to invest in before you save towards it.

That is okay if you have plans after you have saved or before when you do it. And that's where we'll invest it because we can't let it sleep for so long. We have to make money from that money we own.

Spending should have a budget just as saving, and the budget should not be extended until you have another source of income, and never spend more than your earn, else you be broke without achieving anything with your salary or income.

In today's bad economy, it's hard to budget the spending that we do. Because its inflation is so high that's why the adjustment of budget also happens from time to time. So, spending, budgeting and increasing our source of income should be done but I am afraid to say that even with so good words of advise, not all can avail to do it.

[fuguebtc]

What guarantees that if you invested that money instead of saving it at that time, you would not lose it all? Because I guess when you were in school, you did not have any knowledge about finance and investing. And investing without knowledge is gambling, and losses are inevitable.

Investing does not always guarantee a profit, and it involves risk. And there are many other ways to make money grow, so let's not overemphasize investing and neglect other thing.

Investing and saving are both important and play different roles in our lives. What we need to do is find a balance between them, not choose one over the other.

Yes, you are right. That's why financial experts always say to keep an emergency fund and then invest the rest. Investing your entire savings at once increases the risk. Before investing, you should carefully check the return on investment and risk factors.

Anyone with basic financial literacy knows that an emergency fund is far more important than investments. Because it help us cope when unexpected event occur, and we do not have to sell our investment assets reluctantly. But it seems many people are ignoring this basic rule and doing the opposite. I guess most people are investing more money than they can afford to lose, and they do not even have an emergency fund. Because everyone want and is eager to get rich quickly through investing.

But they did not know that it would not be easy, and they would be in trouble if an emergency were to occur. Only then did they realize how flawed their financial plan was.

[cxtreenal]

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.

Accumulating for the future is the responsibility of every conscious individual because it is not certain how long you will be able to function. Losing a job or becoming ill for any reason can have a negative impact on your income.

Some people accumulate fiat for the future but those who are aware of the government's fiat manipulation. They will not accumulate fiat more than necessary. They accumulate assets that are not eroded by the effects of inflation. This includes great ways to increase physical assets and accumulate Bitcoin through discretionary income. Poor and middle income people cannot actually accumulate any assets due to low reserve funds so they spend money unnecessarily. DCA method and small accumulation strategy through discretionary income for Bitcoin will largely keep your digital gold free from the effects of inflation in the future, where physical assets lose value due to inflation.

[rachael9385]

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.

What you said is also the reality in our country. People find it definitely hard to save not only because they have small earnings, but also because inflation is inevitably high and only those who have high paid salaries are capable to sustain their needs while leaving the rest struggling in their finances.

So saving may seem impossible for majority, in the sense that investing also is very hard for them. But I still stick to the idea that if we can save a little amount, make it a habit until it can afford to start a good investment in the future.

It is very challenging to save when you aren't really earning enough, this is the reason why a lot of people find it difficult to save money, they live from hand to mouth without being able to save up something substantial even after they have worked for many years. The solution for people living like this is to add a paying skill to their job so they can get a source of income to make extra money

[CageMabok]

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It is very challenging to save when you aren't really earning enough, this is the reason why a lot of people find it difficult to save money

For this reason, everyone must continuously increase their income to save without sacrificing their ability to starve. This means everyone will consider how to do this while investing without disrupting their daily expenses, as saving does require a slightly higher income than usual. Therefore, increasing one's own income is an option worth considering for anyone looking to save, although there are also other options, such as investing in assets that can generate profits and those profits can also be converted into real savings for oneself.

[Furious 7]

Savings strategically is the main thing, you can save and still be poor if your don't have a target for your savings, you will be like a farmer that save his harvest instead of selling them off till they got spoiled or replanting them. When you save have a target for the money, what to invest in before you save towards it.

Spending should have a budget just as saving, and the budget should not be extended until you have another source of income, and never spend more than your earn, else you be broke without achieving anything with your salary or income.

Some people may save money without a specific goal, but their goal is to use it in times of need or emergency. But even so, I don't think that's a bad thing, because whether or not you have a goal or target for saving money doesn't matter, but the important thing is that we need to save money just in case. Many people struggle and feel overwhelmed when faced with urgent situations but have no savings—this is one example of not having any savings at all.

Spending must, of course, be done wisely. Some people who spend their money on things that are not very important are wasting it, and they may occasionally experience financial difficulties or feel overwhelmed because of irregular spending. We must be wise in managing our money.

[Cossyblack]

savings could also be used for emergencies life is unpredictable we never know what could happen. should you ever need a pretty big amount of cash for some reason then it’s good that you can get money from somewhere without worrying too much.

We are saving money just incase of emergencies or the urgent need of money comes up. We are not savings to beautify our bank accounts but to solve our problems and pay our bills .Savings is important but we must be conscious of what we are withdrawing our savings for so that we don't spend it reckless on things that aren't important. If we start spending on everything that bothers us,we might end up  broke  If it's something that isn't important,then we shouldn't touch our savings for it.

[Umulala-alala]

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.

I can’t agree that using savings for anything other than investments or business is pointless. Savings can be used for travel or for improving one’s health, for buying a home or a car. These are all equally important and worthwhile goals. Of course, if there is access to cheap consumer credit, that need may diminish, but overall savings have far more possible uses than just investments and business.

savings could also be used for emergencies life is unpredictable we never know what could happen. should you ever need a pretty big amount of cash for some reason then it’s good that you can get money from somewhere without worrying too much.

That is the important of saving it saves us when there is an emergency without going out to borrow or asking friends to assist us, apart from also for emergency situation saving should be a primary assignment for any one earning money because that is the first step of financial growth and future achievement, you can save good amount of money in a year if you are determined to achieve anything good from the money you save you can diversify to other business for more income.

[Yorubek]

savings could also be used for emergencies life is unpredictable we never know what could happen. should you ever need a pretty big amount of cash for some reason then it’s good that you can get money from somewhere without worrying too much.

We are saving money just incase of emergencies or the urgent need of money comes up. We are not savings to beautify our bank accounts but to solve our problems and pay our bills .Savings is important but we must be conscious of what we are withdrawing our savings for so that we don't spend it reckless on things that aren't important. If we start spending on everything that bothers us,we might end up  broke  If it's something that isn't important,then we shouldn't touch our savings for it.

Saving is very important for every person, different people save their hard earned money for different reasons but most people save thinking about the future. It is true that it is very important to use savings money wisely. There are many people who do not spend their savings on necessary things. How a person spends his money is his personal matter but it is not wise to use necessary money on unnecessary things. As a result of using necessary money on unnecessary things, if you face financial problems in the future, it will be very difficult to get out of it. I think if we cannot use the necessary money at the right time, then that money is worthless.

[Jateng]

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.

This is also beneficial for us we control our spending we will avoid many losses. If we spend more in the present we will not be able to face the problems that will come in the future. then you will have to take a loan to avoid problems. It is better to reduce your wasteful spending and avoid buying unnecessary things.The advice you are giving is to live a minimum life. People with limited money do this. Those who earn more money never spend less money due to their high expenses. Thrift is mostly practiced by those who earn a specific amount of money. They try to save more and spend less which is a good thing.

[Yeesha]

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.

I can’t agree that using savings for anything other than investments or business is pointless. Savings can be used for travel or for improving one’s health, for buying a home or a car. These are all equally important and worthwhile goals. Of course, if there is access to cheap consumer credit, that need may diminish, but overall savings have far more possible uses than just investments and business.

savings could also be used for emergencies life is unpredictable we never know what could happen. should you ever need a pretty big amount of cash for some reason then it’s good that you can get money from somewhere without worrying too much.

Of course, if you want to start an investment it really a good and great idea. But separating your investment capital from your savings is actually very important in order not to cause confusion. Our savings are made incase of any emergency, they are not made for investments. Life is too hard for an individual to figure out what will happen in the future. So we must prepare ourselves for the future. Life is unpredictable and full of uncertainty. God forbid anything can happen anytime and anywhere, accidents can occur, health problems can arise anytime, and so on. Imagine using your savings for an investment and you end up losing, what are you going to do when such things happen in the future.