You won't get Wealthy By Saving Money...

Sugirl

Sugirl

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This is something I wish I realised a lot sooner...
Saving money with no real purpose or penny pinching won't get you anywhere...
Of course, if you blow it all on useless crap it won't go anywhere as well, nor will ''investing'' in something you have no idea about just for the sake of ''investing''.

Instead of spending time and focusing on saving money, use the time to focus on making more/ developing skills to earn more or building something that can pay off in long term.

If you are dirt poor, suck it up, get a sack of potatoes/rice and use your time to get out of your situation instead of spending hours trying to save very little money or figuring out how you can cut costs even further.
 
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You should definitely save. Rainy days are always approaching!
 
xReminisce said:
If you invested just invested $100 in BTC back a decade ago even if you didn't know anything about BTC or did any research, you a very rich person right now.
Click to expand...
Only if you ''invested'' and forgot about it for 10years that you even had it...
Otherwise 99% people already sold their stuff for some profit :D

This stuff is 1 out of 1000 , .For 99.9% of stuff you are going to lose your ass by blindly ''investing''.
 
Sugirl said:
Instead of spending time and focusing on saving money, use the time to focus on making more/ developing skills to earn more or building something that can pay off in long term.
Click to expand...
This is the type of mentality @MisterF was talking about earlier this week.
People live paycheck by paycheck.
Learn to always put money away. If you put $2k away each month, that's $24k a year, a decade later that's $240k.
That's not even adding the bank's saving bank account rates/term deposits

Have you ever saved put money in a savings account before?
From the judge of it, I don't think so

Focusing on making more money is always good, you should always put a bit and re-invest, but you should never neglect saving money either.
 
xReminisce said:
This is the type of mentality @MisterF was talking about earlier this week.
People live paycheck by paycheck.
Learn to always put money away. If you put $2k away each month, that's $24k a year, a decade later that's $240k.
That's not even adding the bank's saving bank account rates/term deposits

Have you ever saved put money in a savings account before?
From the judge of it, I don't think so

Focusing on making more money is always good, you should always put a bit and re-invest, but you should never neglect saving money either.
Click to expand...
Don't be delusional, You need the money first to Put it away!
If you are making $500/month, what will the $100/month you put away do in the long-term? Use the time to find ways to make more!
If you are making $10,000/month, yes.. you got $ to put away so it will actually be of any effect.

I save/invest back 90-95% of my income and I'm not making $500/month lol.
No, I do not save for the sake of saving, I only save till I can use it/invest on something. Inflation will eat it all away if you wait too long...

Btw, I also Eat only basic poverty food (Potatoes,Beans,veggies) and rarely purchase stuff. Some might think I'm poor and I'm saving money, but...
No, I do not I eat cheap basic food to save money, I eat it as it also happens to be the healthiest one.
No, I do not purchase unnecessary crap to save money, I do it only as it will clutter your life , tie & slow you down.
 
Sugirl said:
I save/invest back 90-95% of my income and I'm not making $500/month lol.
No, I do not save for the sake of saving, I only save till I can use it/invest on something.
Click to expand...
Tell that to all the people who invested in starting a new business In Jan/Feb/Mar 2020.
Majority of them declared bankruptcy or is in debt now.

You should always only invest in what you can afford to lose, if you don't have savings, then once you get hit, you literally hit rock bottom.
I will never judge what people eat, nor the clothes you wear or anything inbetween. Materialist things doesn't matter.
From what you saying, you already eat better than @Blackhat Lifter :eek:

Of course you need money to put away first. That was clearly an example.
Why do you think budgeting apps are so popular these days? People have no idea how to manage and save correctly.
You make $xxxx, you have x% dedicated for bills, food and a % for pocket money while the rest goes into savings.
Savings can be divided into different categories.
Savings for xyz, Emergency savings, re-invest savings

I think you get the point, maybe...i'm too drunk for this...
 
Tell this to Warren Buffet and Bill Gates who owns stocks of dozens of companies.
 
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