Save More than Spend

[passwordnow]

i totally agree  with you, but also we should  equally understand  that money is just just for spending  but for solving prrssing needs and expenses, we grow money, by investing and reinvesting

That's true that money is for spending and for other important needs like investing and taking care of ourselves and our families. What you have to do is to still be a good steward of what you earn. Because if you're taking care of what you're earning and the livelihood you have, then, it will also take care of you in the times of your needs. So, save wisely, invest properly and let your money work for you because those times will come whether you expect them to come or not. Be good at money management and you'll be enjoying it as you grow older.

[abaeze]

To save more than you spend is a good habit for anyone that wants to succeed in life, Do you know that many of us doesn't know how to minimize our expenses, they don't think about the future, they render spend all than to save, which is very bad, do you know that when you save it's makes you prepare for any emergency needs, no one knows what tomorrow holds, you may loss your job or fall ill your savings can sustain you for the main time, haven't you notice that if you have savings you will have this inner peace, that's why saving is important, also spend less too.

Nowadays, the problem of most people is that they have low income and high expenses, so even if they wanted to, people can't save anymore, but there was a time when people could easily save even with a small income. I think it is not enough to just spend less but to increase income. Because we have to fulfill our basic needs. For example: food, clothing, shelter, education and medical care. But in the current situation, it becomes very difficult to provide all these, so how is it possible to save or increase those who can.

[HONDACD125]

Nowadays, the problem of most people is that they have low income and high expenses, so even if they wanted to, people can't save anymore, but there was a time when people could easily save even with a small income. I think it is not enough to just spend less but to increase income. Because we have to fulfill our basic needs. For example: food, clothing, shelter, education and medical care. But in the current situation, it becomes very difficult to provide all these, so how is it possible to save or increase those who can.

Even if incomes are not low, expenses keep getting higher because of increasing inflation, and this is a problem in so many countries and regions. When economy becomes unstable, inflation increases, and when that happens, the currency loses value and purchasing power, so if someone who was earning $2,000 five years ago could easily manage with it and could also save some money, the same person with the same income won't even be able to manage properly because the money has lost purchasing power and inflation has gone up, so what $2,000 could get back then can't be possessed now.

For this reason, most people in the world, I think it's the majority, can't save any money, they go hand to mouth, which means that they simply just spend whatever they earn, and even then, they have to compromise on a lot of things. People are always looking for ways to cut costs so that they can at least save some pennies each month but it's very difficult. Unless you have a job that pays you way more than you need based on the current situations, you will have a hard time having savings these days.

[mvdheuvel1983]

Nowadays, the problem of most people is that they have low income and high expenses, so even if they wanted to, people can't save anymore, but there was a time when people could easily save even with a small income. I think it is not enough to just spend less but to increase income. Because we have to fulfill our basic needs. For example: food, clothing, shelter, education and medical care. But in the current situation, it becomes very difficult to provide all these, so how is it possible to save or increase those who can.

Inflation is the only thing that has affected the income of people and has made them to spend more money than they earn, when the economy was a bit stable people were still managing to save from the low income they get paid for a job but the salary is no longer enough to take care of personal needs talk more of having savings for other things. Having savings now you have to have a high paying job that can take care of your expenses because if you don't have enough you can't save in the present economy. The primary needs alone consume all the money you get paid for in your job but if you manage to save you have to be very disciplined not to spend too much on other things.

[m2017]

Inflation is the only thing that has affected the income of people and has made them to spend more money than they earn,

Not enough money? This is a good time to consider finding alternative (additional) sources of income. Even a bad situation can be used for personal development.

when the economy was a bit stable people were still managing to save from the low income

Need to save wisely. In the form of investments. Under no circumstances in the form of traditional "money".

they get paid for a job but the salary is no longer enough to take care of personal needs talk more of having savings for other things.

This is a reason to change employers, as well as to develop new skills and areas of work.

Having savings now you have to have a high paying job that can take care of your expenses because if you don't have enough you can't save in the present economy.

What if just start spending less? Limit yourself now, for the sake of benefiting later (saving money for future investment).

The primary needs alone consume all the money you get paid for in your job but if you manage to save you have to be very disciplined not to spend too much on other things.

Discipline is easy to instill when money is tight.

[rachael9385]

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.

life is meant for the living, savings can't be meant for doing a lot of things asides from business or investments. There is more to life than just investing, in as much as this is important i think it's also important to invest in yourself as well. Most people focus only on investments and they forget to give their body good food and get adequate medical care.

[Jody.Drummer]

To save more than you spend is a good habit for anyone that wants to succeed in life, Do you know that many of us doesn't know how to minimize our expenses, they don't think about the future, they render spend all than to save, which is very bad, do you know that when you save it's makes you prepare for any emergency needs, no one knows what tomorrow holds, you may loss your job or fall ill your savings can sustain you for the main time, haven't you notice that if you have savings you will have this inner peace, that's why saving is important, also spend less too.

Nowadays, the problem of most people is that they have low income and high expenses, so even if they wanted to, people can't save anymore, but there was a time when people could easily save even with a small income. I think it is not enough to just spend less but to increase income. Because we have to fulfill our basic needs. For example: food, clothing, shelter, education and medical care. But in the current situation, it becomes very difficult to provide all these, so how is it possible to save or increase those who can.

With low income and high expenses, it is a problem that I think many people experience. The solution is to reduce expenses or increase income, but if both are difficult to do, what can be made if it's like that just live as it is but if for people who really have a good mindset, of course they will do anything to be able to increase their income whether looking for a side job or small business such as selling. For people who are disciplined or able to manage finances well I think they can manage their finances well even though their income is low and their expenses are high they will still try to save, the solution is to try to save as much as possible.

[Etranger]

life is meant for the living, savings can't be meant for doing a lot of things asides from business or investments. There is more to life than just investing, in as much as this is important i think it's also important to invest in yourself as well. Most people focus only on investments and they forget to give their body good food and get adequate medical care.

Miserly people have existed at all times. I also don’t see the point in denying yourself everything while saving every penny without a clear purpose. Savings, like investments, should have a goal. Money for the sake of money never brings real satisfaction or a sense of fulfillment. It is simply a tool that should serve something meaningful. So it makes sense to keep savings for critical situations, but it’s just as important to use part of what you earn and set aside on something enjoyable that helps you perform better and feels like a reward.

[DYOR+BTC]

life is meant for the living, savings can't be meant for doing a lot of things asides from business or investments. There is more to life than just investing, in as much as this is important i think it's also important to invest in yourself as well. Most people focus only on investments and they forget to give their body good food and get adequate medical care.

Miserly people have existed at all times. I also don’t see the point in denying yourself everything while saving every penny without a clear purpose. Savings, like investments, should have a goal. Money for the sake of money never brings real satisfaction or a sense of fulfillment. It is simply a tool that should serve something meaningful. So it makes sense to keep savings for critical situations, but it’s just as important to use part of what you earn and set aside on something enjoyable that helps you perform better and feels like a reward.

Any saving without a goal is like working for no good reasons,  before we choose saving as an option there most be specified reason on which we choose to save for and that itemised goal will help in maintaining focus and never receives distraction because we know where we intend going to. When investment or savings are done on a flat floor we easily end up using the saved capital for something that is useless as we believe the saving was just made for that particular reason.  Success comes only when we work towards a specified target or goal as the goal will help direct and keeps us guided till that specific goal is achieved

[Pi-network314159]

Inflation is making money to lose value all the time, and this makes the amount you save today lose value in the next coming month and also the next coming year, continuously. So for me instead of saving and allowing iflaito reduce it's value, i would have advice to invest that money, so that it can be generating income that will be used to recover the Lost value due to inflation. Saving is good but save wisely and not saving to trap your fund,  you may also lose afterwards because you didn't do it wisely.

[silpersurfer]

Inflation is making money to lose value all the time, and this makes the amount you save today lose value in the next coming month and also the next coming year, continuously. So for me instead of saving and allowing iflaito reduce it's value, i would have advice to invest that money, so that it can be generating income that will be used to recover the Lost value due to inflation. Saving is good but save wisely and not saving to trap your fund,  you may also lose afterwards because you didn't do it wisely.

This is indeed a fact, inflation is taking away the value of the FIAT currency and it does torment us because it makes us lose value every time, it is not a good situation, saving is the first solution to many unimportant expenses after having savings then we talk about investing to accumulate assets that are resistant to inflation in the long run, because we have to guarantee our lives first at least 3 - 6 months ahead and it cannot be from money stored in assets, it must be in cash, because if in assets it depends on its liquidity and also ups and downs in price, it is not good if it makes life guarantees from assets that have low liquidity or price fluctuations.

[odunybiz]

Inflation is making money to lose value all the time, and this makes the amount you save today lose value in the next coming month and also the next coming year, continuously. So for me instead of saving and allowing iflaito reduce it's value, i would have advice to invest that money, so that it can be generating income that will be used to recover the Lost value due to inflation. Saving is good but save wisely and not saving to trap your fund,  you may also lose afterwards because you didn't do it wisely.

Sometimes it is advisable to spend your money on what you need instantly than making unnecessary savings. Imagine buying what you should  have bought for $30 at $70 with a period of a year. If you had only save without investing, then your money has lose it value with $40. Some people even save up to half of there monthly income even when they are having health challenges. Although I'm not saying savings isn't good but most be done careful and well manage so it won't affect you and won't affect the value of your money much.

[junder]

Any saving without a goal is like working for no good reasons,  before we choose saving as an option there most be specified reason on which we choose to save for and that itemised goal will help in maintaining focus and never receives distraction because we know where we intend going to. When investment or savings are done on a flat floor we easily end up using the saved capital for something that is useless as we believe the saving was just made for that particular reason.  Success comes only when we work towards a specified target or goal as the goal will help direct and keeps us guided till that specific goal is achieved

I don't have a specific reason or purpose for saving money, I just do it because I will need it later, either to buy what I want or need. I just do it consistently, although sometimes I think I want to buy whatever it is but I don't really think about it, because I haven't gotten to the point where I really need it. It's not bad for me but for other people out there maybe they have specific goals for their saving.

[Compromise me]

Sometimes it is advisable to spend your money on what you need instantly than making unnecessary savings. Imagine buying what you should  have bought for $30 at $70 with a period of a year. If you had only save without investing, then your money has lose it value with $40. Some people even save up to half of there monthly income even when they are having health challenges. Although I'm not saying savings isn't good but most be done careful and well manage so it won't affect you and won't affect the value of your money much.

It is in our own interest to save more and spend less.If we spend more than necessary then when there is a financial loss then we will have to borrow from others because it is natural that there are ups and downs in your life so we should be prepared in advance.Yes if you are financially strong and have the ability to cover the loss then you can buy things that you want and need more than you need.Poor people save money from their monthly income because they do not have the desire or motivation to buy unnecessary things.They try to spend less than necessary and invest money to investment which is a good thing.

[Shishir99]

I don't have a specific reason or purpose for saving money, I just do it because I will need it later, either to buy what I want or need. I just do it consistently, although sometimes I think I want to buy whatever it is but I don't really think about it, because I haven't gotten to the point where I really need it. It's not bad for me but for other people out there maybe they have specific goals for their saving.

Well, having a goal is better than starting to save. Because you will have a target, and you will feel motivated to save money. However, you can still save money for the future without having any specific goal. People might need money for emergency health conditions. This one thing is good enough to start saving money. The life is full of uncertainity. Nobody know if they can live a healthy life tomorrow.

I have seen many people who were working, young and strong. However, their health condition changed quickly and they need money for their own treatment. So, even if you do not have a specific goal in your life, start saving money for your own health and the family members.

[imthegreat]

Over time in the past few years, business adjusted prices and even  industries reviewed salary structures, countries increased minimum wage to meet up the demand of the economy due to inflation rates. But within the past few months the inflation rate seems NOT to be on the constant rise and increase as was seen sometime ago. Though it is not stable but there seems to be some forms of little price drops and stabilities in the local markets . This in a way has help some people get extra money because the drops had directly affected disposable income to increase.  Making people to spend more than what they are used to spending before due to the economy.
The best thing to be done now is to realise this fact and save any extra cash instead of spending unnecessarily.  Instead of increasing your purchases because of your increased disposable income, it is better you increase your savings.  Boost it as much as you can because you donot know gow the inflation rate would turn out in the next few months to come.

I'm always in full economy mode because I think it can only get worse. Look guys, it feels like the governments are not lowering prices at all, I see only huge hidden inflation. In the country where I live, they talk about inflation of 6 percent, but in reality it is 24 percent. I can clearly see how prices are changing in stores, especially since the new year. In general, the new go is the moment when everything becomes more expensive the most. That's why I'm constantly saving. After all, there are all sorts of force majeure circumstances, such as dental treatment or that something will break down from the equipment at home. It's hard to live like this, but most people's lives are just like that.

[liasbaa]

Sometimes it is advisable to spend your money on what you need instantly than making unnecessary savings. Imagine buying what you should  have bought for $30 at $70 with a period of a year. If you had only save without investing, then your money has lose it value with $40. Some people even save up to half of there monthly income even when they are having health challenges. Although I'm not saying savings isn't good but most be done careful and well manage so it won't affect you and won't affect the value of your money much.

It is in our own interest to save more and spend less.If we spend more than necessary then when there is a financial loss then we will have to borrow from others because it is natural that there are ups and downs in your life so we should be prepared in advance.Yes if you are financially strong and have the ability to cover the loss then you can buy things that you want and need more than you need.Poor people save money from their monthly income because they do not have the desire or motivation to buy unnecessary things.They try to spend less than necessary and invest money to investment which is a good thing.

Due to the low income of the poor, they spend in proportion to that and most of the time they cannot spend beyond their basic needs. A community among them accumulate for the future as we are discussing discretionary income. With this discretionary income, they invest or accumulate in some potential place. By setting a limit on spending with income, you can reduce poverty because you will set a weekly budget with the amount you earn and the amount of spending will be according to it. Not only the poor but also the rich have the habit of accumulating or investing bitcoin due to which they have been able to improve their financial condition. I am not in favour of becoming poorer by spending less than necessary because I do not like the fact that many people spend less than necessary and choose deliberate poverty. It is better to accumulate regularly through discretionary income even if the amount is small.

[Etranger]

I'm always in full economy mode because I think it can only get worse. Look guys, it feels like the governments are not lowering prices at all, I see only huge hidden inflation. In the country where I live, they talk about inflation of 6 percent, but in reality it is 24 percent. I can clearly see how prices are changing in stores, especially since the new year. In general, the new go is the moment when everything becomes more expensive the most. That's why I'm constantly saving. After all, there are all sorts of force majeure circumstances, such as dental treatment or that something will break down from the equipment at home. It's hard to live like this, but most people's lives are just like that.

That makes sense, but only if your savings are held in assets that can outpace that level of inflation. And in reality, there are very few such assets. Growing at 24% per year consistently and reliably is something only a limited number of stocks or cryptocurrencies can achieve, and you need to be a very good forecaster to identify them in time. Simply holding currency doesn’t make much sense, in my view. Even if you hold dollars and outperform your local currency, it’s still not truly overcoming the problem, just buying time.