Save More than Spend

[Akbarkoe]

Saving more is good because the savings can be allocated to many things to manage and get money back without working such as investing in Bitcoin, stocks, gold, mutual funds and others, these are instruments that can be taken in the future when we have enough and our lives will be very safe in such a situation.
Most people who do not develop are limited in their income, or their income is not saved for future reserves but is spent on something that is not productive for self-development or work or business development, and that is not a good action, especially to the point of over spending and even forgetting that there must be a wife and children to feed.

[summonerrk]

Saving more is good because the savings can be allocated to many things to manage and get money back without working such as investing in Bitcoin, stocks, gold, mutual funds and others, these are instruments that can be taken in the future when we have enough and our lives will be very safe in such a situation.
Most people who do not develop are limited in their income, or their income is not saved for future reserves but is spent on something that is not productive for self-development or work or business development, and that is not a good action, especially to the point of over spending and even forgetting that there must be a wife and children to feed.

I always feel sorry for those smart guys, including on our forum, who are interested in assets and they love the world of investment and macroeconomics, but do not have the money to invest. I want to tell them that there are only two ways they can fix their situation. Or really save a lot, as it is described in this topic, but I am sure that they really live economically and do not have extra money. The second way is to look for part-time jobs, as is now done by all those who are forced to be constrained by full-time work.

[lizarder]

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.

This should apply not only to poor economic conditions and high inflation, as it's actually better to save than to spend uncontrollably. Some might say they're stingy because they're more focused on saving or putting their money into more productive areas. However, this is done to achieve a better life, allowing us to make more measured plans for the future through wiser use of money.

Spending more money will also make someone experience difficulties in poor economic conditions and will only become more problematic when inflation occurs. The choice is ours: whether we prepare for a better life in the future or simply accept our fate and never try to change our lives for the better while we still have the opportunity.

[imthegreat]

As the saying goes, "developing taste is expensive." And we all like to learn something new about food and services and goods when we have money. For example, when I found out what pesto paste, tartar sauce and kimchi are, I realized that these sauces and snacks will always be on my table. But they are not cheap in stores, and I no longer want to eat side dishes and meat with mayonnaise and ketchup, my taste is now much more developed.
But if I don't have the money, I'll have to live without these dishes somehow. But the memory of them will not go away, and therefore it is a paradox, because it is boring not to develop taste, you always want to arrive at something new. But this does not match the desire to save money. In general, spending and saving are a constant delicate balance.

[Youngrebel]

As the saying goes, "developing taste is expensive." And we all like to learn something new about food and services and goods when we have money. For example, when I found out what pesto paste, tartar sauce and kimchi are, I realized that these sauces and snacks will always be on my table. But they are not cheap in stores, and I no longer want to eat side dishes and meat with mayonnaise and ketchup, my taste is now much more developed.
But if I don't have the money, I'll have to live without these dishes somehow. But the memory of them will not go away, and therefore it is a paradox, because it is boring not to develop taste, you always want to arrive at something new. But this does not match the desire to save money. In general, spending and saving are a constant delicate balance.

True to say they are in a constant balance, but you need to know and realise the point you know when to say.no to some expenses before doing them. It is important to know make a scale of preference to differentiate between you wants and you needs. Something are just wants and so you can do away with them.  Until you have good financial comfort and stability then you can give yourself all the luxury you wish else you might want to live within your means and save up the greater chunk of your income for better investments

[Akbarkoe]

Saving more is good because the savings can be allocated to many things to manage and get money back without working such as investing in Bitcoin, stocks, gold, mutual funds and others, these are instruments that can be taken in the future when we have enough and our lives will be very safe in such a situation.
Most people who do not develop are limited in their income, or their income is not saved for future reserves but is spent on something that is not productive for self-development or work or business development, and that is not a good action, especially to the point of over spending and even forgetting that there must be a wife and children to feed.

I always feel sorry for those smart guys, including on our forum, who are interested in assets and they love the world of investment and macroeconomics, but do not have the money to invest. I want to tell them that there are only two ways they can fix their situation. Or really save a lot, as it is described in this topic, but I am sure that they really live economically and do not have extra money. The second way is to look for part-time jobs, as is now done by all those who are forced to be constrained by full-time work.

The way is just by working more than the usual day that takes 8 hours, then we have to work more than that, whether it's working part-time on the side or our own business, the most important thing is that we can get additional income, that is the key even though we have to sacrifice more time, energy and thoughts so that we can have more discretionary funds to be allocated to many things, especially in investment, because it would be a great loss if we talk about macroeconomics and investment every day but we don't have funds for investment, it's a very sad condition.

[Italian Panic]

I always feel sorry for those smart guys, including on our forum, who are interested in assets and they love the world of investment and macroeconomics, but do not have the money to invest. I want to tell them that there are only two ways they can fix their situation. Or really save a lot, as it is described in this topic, but I am sure that they really live economically and do not have extra money. The second way is to look for part-time jobs, as is now done by all those who are forced to be constrained by full-time work.

It is absolutely essential to have an income that allows you to put money aside; if you spend everything you earn, there is a problem: either you are earning too little, or you are a bad saver with holes in your hands.
The best approach is to have an income that allows you to buy even a few satoshi now and then, but which is consistent, whilst also investing a small amount in the financial markets. For diversification, I also buy a few government bonds, but without going overboard; I’ve lost faith in this instrument, but it is fine for liquidity. As for the stock market, however rotten that world may be, it always guarantees something of value as long as they keep those four companies which are like the "goose of the golden eggs" artificially alive. Bitcoin always holds a place of honour, and it should be that way for everyone.

[SmartCharpa]

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.

Even with the increase of the minimum wage, the rising inflation in the country has affected everything, even people who earn salaries no longer understand how their money finishes so quickly due to the current situation of the country. Most of the salary earners find themselves in debt even before they get their salary, some people debt can be higher than why they earn. It’s not because they don’t know how to manage, but they have a lot responsibilities to deal with.

However, saving is not a bad idea, but you need to think very well if saving in your local currency will help you in the near future. Like my country, the currency has lost a lot of value, so I can’t saving in my local currency is not the best option for the future. I would rather save in bitcon because I believe its future will be better, due to it history till today.

[Livingleged]

Even with the increase of the minimum wage, the rising inflation in the country has affected everything, even people who earn salaries no longer understand how their money finishes so quickly due to the current situation of the country. Most of the salary earners find themselves in debt even before they get their salary, some people debt can be higher than why they earn. It’s not because they don’t know how to manage, but they have a lot responsibilities to deal with.

However, saving is not a bad idea, but you need to think very well if saving in your local currency will help you in the near future. Like my country, the currency has lost a lot of value, so I can’t saving in my local currency is not the best option for the future. I would rather save in bitcon because I believe its future will be better, due to it history till today.

You said everything in my mind honestly even with the increase in the minimum wage using Nigeria my country as a case study it is still tough out there salaries vanish really fast. inflation has eased down to about 15% but there is still more to do, it droped earlier this year from a higher peak of the previous years but it’s still have not meet balance with the prices of items in the market many cost of food, rent and transportation are have risen by 100% thats why salary earners end up borrowing money just to meet their daily expenses.
No doubt naira has lost serious value over the year i imagine buying petrol today for 1400 if I was told this in the previous year I’ll never have believed it will get to this. Your point. About bitcoin as an alternative really makes a lot  of sense in this context.

[|MINER|]

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 personally will say here that it is normal that the inflation of traditional fiat currency will always increase.
This does not mean that we have to increase our expenses due to the inflation of the currency. Rather, if someone does such a thing, it would be foolish. One should definitely save based on meeting one's needs. If it is not more than the amount of expenses, then a certain amount of savings should be made. And if there is more concern about inflation, then I would say that investing in Bitcoin or investing in gold for the long term can be an alternative.

[Oshio-man]

what's actually more important than saving is investing because saving is just keeping money for future use, there is no value that is added to it. The best thing to do will always be to invest either in bitcoin, stocks or whatever you think is profitable. Some people save for years only to end up spending the money on expenses, fiat currencies are only going to lose their value in the long run so it is better to save in bitcoin instead.

I agree with you op, saving will not going to add increase to your funds than to only make them save, but if you invest the funds to bitcoin or potential altcoins it will make you enjoy the purpose of investing your funds into bitcoin, it will increase your capital you used to invest, which is the reason why some investors prefer their funds to be in decentralized investment than centralized investment because they know that what they are going to earn in the future it will make them to forget the stress they went through to achieve the capital, there are some people that is leaving their funds in the bank without knowing that they can invest the funds in decentralized investment to double the capital in the future.

[Easteregg69]

You fomo in at the top if you don't get it right.

On merits. It's a bread machine from pricerunner on the avatar. It tells me the energy that goes in to is the same no matter how i get it.

You know. Hot bread with butter. From a machine. Doe makes compound.

The idea is you bake your own bread to save some money. I don't care if you use a machine.

You check what is in opposition. You imagine pulling your own bread out of a machine like that at will. Groovy. No regrets.

It better be good. Pancakes is easier. Marmelade.. It's ehh. What's eternity worth spending on.

[Mame89]

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.

Even with the increase of the minimum wage, the rising inflation in the country has affected everything, even people who earn salaries no longer understand how their money finishes so quickly due to the current situation of the country. Most of the salary earners find themselves in debt even before they get their salary, some people debt can be higher than why they earn. It’s not because they don’t know how to manage, but they have a lot responsibilities to deal with.

However, saving is not a bad idea, but you need to think very well if saving in your local currency will help you in the near future. Like my country, the currency has lost a lot of value, so I can’t saving in my local currency is not the best option for the future. I would rather save in bitcon because I believe its future will be better, due to it history till today.

This is true. With the current war situation, inflation is unavoidable and even an increase in the minimum wage won't be enough because basic food prices are also starting to rise especially if you have many other needs to cover. The only solution is to increase your additional income so you can save and invest. In principle, save only for an emergency fund, for example an emergency fund for 3-5 months not the future. Emergency funds are important because we don't know what will happen in the future. However, save only for an emergency fund not more because inflation can reduce the value of money. So, it's better to save for an emergency fund for 3-5 months first and then increase your income sources.

So, once you have enough money, consider investing in relatively safe instruments so your money doesn't just sit idle like gold and bitcoin. Especially in times of crisis like this with war, the global economy will be uncertain. This doesn't mean you shouldn't buy anything at all, but rather that you should plan ahead so you don't act impulsively and ruin your finances later on.

[Easteregg69]

Still. The noise was unrealistic so i moved countryside and started buying crypto instead of mining.

I had a skunk lab in the office before that. HPS lamps.. The land is more open out here. Eco system gets more space. And you end up getting a gram cheaper than if your in competition.

Birds was of no concerns back then. But as it grows they came in naturally. They be in for nest fight this month. I know them by now. It's the same every year.

Only time a year it's alloved to be an asshole. They find a new hobby if you don't shoot them.. Very loud!

You flip aligned to core to find truth. The truth about why you did not check the rewards for a long time.

I see you later.

[abhiseshakana]

This is true. With the current war situation, inflation is unavoidable and even an increase in the minimum wage won't be enough because basic food prices are also starting to rise especially if you have many other needs to cover. The only solution is to increase your additional income so you can save and invest. In principle, save only for an emergency fund, for example an emergency fund for 3-5 months not the future. Emergency funds are important because we don't know what will happen in the future. However, save only for an emergency fund not more because inflation can reduce the value of money. So, it's better to save for an emergency fund for 3-5 months first and then increase your income sources.

So, once you have enough money, consider investing in relatively safe instruments so your money doesn't just sit idle like gold and bitcoin. Especially in times of crisis like this with war, the global economy will be uncertain. This doesn't mean you shouldn't buy anything at all, but rather that you should plan ahead so you don't act impulsively and ruin your finances later on.

I think inflation not that scary for many people. They see it as normal life phenomena some of them even does not notice about it. Increase additional income is nearly almost impossible for midlle and lower income because they only struggle paycheck from paycheck even daily income to cover their daily needed. Beside government i think each of us has responsibility to reduce pressure due to inflation such as wise needed based shopping not panic buying or even over consumption, improve community economy with buy from people near us and avoid big retail supermarket. Please buy as you need, proper store it and recycle and try make diversification of food. In my country main food is rice , government advises its people to consume alternative food such as cassava, sweet potato, corn, sago, breadfruit.

Beside that when salary can not catch faster inflation, i suggest to consider moving to rural area, there are still many opportunity to increase income in rural area and we can reduce the cost of living very significantly, it is very important can reduce our stress levels so we can have sprare time and peacefull mind for our productivity and upgrading our value.

Regarding emergency fund i agree with you but  i think we must reviewing the amount, when something big collpased happen, i think everything will be very expensive. and our emergency fund can not cover it so the most wise action is preparing the worst by trying to be independent and try to fulfill our daily needs by ourselves such as farming and raising livestock and try to fullfill clean water from well plus food waste is highly prohibited.

[Powerjumboo]

Saving is a wise thing to do, but if you can invest in Bitcoin with your savings, it will be even wiser. To save, we must reduce our extra expenses. Among the extra expenses, we must avoid bad habits, drugs, etc. If we can change the bad habits of our path, then in that case we can increase our savings with the money there. However, the most important person for saving is the queen of the house (wife) because women are the most adept at saving, if you give money to them, that money will never be lost, but will increase even more.

[m2017]

Saving is a wise thing to do, but if you can invest in Bitcoin with your savings, it will be even wiser.

Accumulation implies investment, i.e. increasing the initial capital.

To save, we must reduce our extra expenses.

You can also work in the opposite direction: increase your income. Ideally, reducing expenses and increasing income can be combined.

Among the extra expenses, we must avoid bad habits, drugs, etc.

Your list is quite peculiar, though. I'm afraid most people have simpler expenses, common in everyday life - food, entertainment, and various junk items that are often sold at an overpriced price.

Bad habits that "eat money" would likely include alcohol and cigarettes (the new trend is e-cigarettes).

If we can change the bad habits of our path, then in that case we can increase our savings with the money there.

This will help you cut your expenses, but it doesn't guarantee an increase in your savings. Chances are, by getting rid of some habits, you'll spend money on others. I know many examples of people who quit smoking and then simply started eating everything in sight (the end result is excess weight).

However, the most important person for saving is the queen of the house (wife)

Women are the queens of reckless spending. The entire current consumer and spending industry is built on their weaknesses (from diamonds to cosmetics).

because women are the most adept at saving, if you give money to them, that money will never be lost, but will increase even more.

It seems, my friend, that you are from another planet. Women are a bottomless barrel that devours money. They know how to spend money best of all (it’s their superpower).

[Hanadawa]

I always feel sorry for those smart guys, including on our forum, who are interested in assets and they love the world of investment and macroeconomics, but do not have the money to invest. I want to tell them that there are only two ways they can fix their situation. Or really save a lot, as it is described in this topic, but I am sure that they really live economically and do not have extra money. The second way is to look for part-time jobs, as is now done by all those who are forced to be constrained by full-time work.

I'm sure most of my friends on this forum already understand that investing is one of the best ways to achieve financial freedom. Relying solely on a salary will force you to work for the rest of your life. Relying solely on a business might improve your life, but there's still a risk of bankruptcy. But becoming a business owner allows you to set aside profits for investment. I agree with you that there are two key points to investing if you're not wealthy: saving and frugal living. Or adding new sources of income. I'm also looking for a side job. It's tiring, but when I see money to invest, I feel my fatigue vanish, replaced by satisfaction.

[Smack That Ace]

what's actually more important than saving is investing because saving is just keeping money for future use, there is no value that is added to it. The best thing to do will always be to invest either in bitcoin, stocks or whatever you think is profitable. Some people save for years only to end up spending the money on expenses, fiat currencies are only going to lose their value in the long run so it is better to save in bitcoin instead.

I agree with you op, saving will not going to add increase to your funds than to only make them save, but if you invest the funds to bitcoin or potential altcoins it will make you enjoy the purpose of investing your funds into bitcoin, it will increase your capital you used to invest, which is the reason why some investors prefer their funds to be in decentralized investment than centralized investment because they know that what they are going to earn in the future it will make them to forget the stress they went through to achieve the capital, there are some people that is leaving their funds in the bank without knowing that they can invest the funds in decentralized investment to double the capital in the future.

I fully support people investing because it is a good way to increase wealth. But I have noticed that most people are making a big mistake, they only see the positive aspect of investing and ignore the fact that investing alway come with risk. No investment is absolutely safe and will yield return without risk, and the higher the return, the higher the risk. It is puzzling that no one mention the risk involved in investing.

In addition, there are many other investments that yield good returns, not just bitcoin or crypto. Every investment has its own advantages and disadvantages, and we need to choose the one that suits our preferences. Invest in what you understand, not just because others are investing in it.