Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: Findingnemo on December 20, 2024, 03:53:12 PM
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
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Saving money is still a thing especially in times of certainty where banks are failing and rugpulling. Meaning of you have to save, keep the money under your mattress not in the bank because it's not safe anymore.
Th inflation could change the minds of people saving their cash actually. The new way as of now is just to invest either in Gold or BTC. DCAing since they figure it's smarter that way.
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Saving money is still a thing especially in times of certainty where banks are failing and rugpulling. Meaning of you have to save, keep the money under your mattress not in the bank because it's not safe anymore.
Th inflation could change the minds of people saving their cash actually. The new way as of now is just to invest either in Gold or BTC. DCAing since they figure it's smarter that way.
People still save money but I am talking about the majority of people in this society, for example the youngsters who are in their 20s got chance to make more money than before due to change of field, social media, or creating our own startup but my point is even the people who are being successful and profitable not carrying it on, by saving it and expanding or utilise their money for best but all they do is how to spend, which car I should buy or which is the destination for next travel.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
yeah i see kids nowadays are being easy victims of capitalism and overconsumption like you have said living in the present is okay and encouraged but this should only be applicable after you have already secured your future
living in the present is not really the same as just throwing away your future you still need to consider what is to happen to you when something happens i think that we can do both at the same time to some extent do not be too focused on the future but also do not completely forget about it i believe it can coexist and must be done if we want a happy and successful life
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living in the present is not really the same as just throwing away your future you still need to consider what is to happen to you when something happens i think that we can do both at the same time to some extent do not be too focused on the future but also do not completely forget about it i believe it can coexist and must be done if we want a happy and successful life
Exactly, they are messing up with each other which are totally different. We need good and healthy lifestyle and there's nothing wrong with what we need and spend money for that but we are just trying to show off people with new things, big house, flashy cars,etc which can take the better life of our future generations. Traditionally the high priority is to give better lifestyle to our kids and then grandkids but now they just want everything and doesn't care about others.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
Not all but some especially those social media people are spending too much on nonsense things but in real life they do have nothing like savings. Maybe they have plans but when procrastination strikes it's not gonna happen which is a sad part but for me personally I do save and at the same time invest. I fully understand that life is hard now but still I am able to secure small fund to help me out during emergency situation though not that big but atleast I have one.
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Yeah, it feels like people are less into saving for the future these days. Everyone's caught up in living for the moment, spending on things that make them happy now, which is fine to an extent. But the problem is, if you don't plan for tomorrow, you might get stuck in a bad spot later with no way out. Life can hit hard, and without a safety net, it’s tough. A little balance between enjoying now and saving for the future could save a lot of trouble down the road.
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Saving money is still a thing especially in times of certainty where banks are failing and rugpulling. Meaning of you have to save, keep the money under your mattress not in the bank because it's not safe anymore.
Th inflation could change the minds of people saving their cash actually. The new way as of now is just to invest either in Gold or BTC. DCAing since they figure it's smarter that way.
You are right mate, instead of keeping money in the bank, you can save it in bitcoin and gradually keep increasing your bitcoin stash because it's a long-term investment project for your future. However, I wouldn't advise plebs to save in gold because it cannot increase your saving like that of bitcoin. Bitcoin is the long term investment trend that big tech firms and government are seeking towards buying. It's good to join the moving train. Gold is old but still the number one asset that has ever lasted long.
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People still save money, but only after important expenses have been paid. Nowadays, very few people have jobs that allow them to save money after taking on obligations. It is impossible for someone without sound financial standing to save, unless they wish to deny themselves many things, which can be extremely difficult because doing so would mean they are not living.
I have personally tried numerous savings plans, but they have all failed because, after paying the big bills, there is nothing left over. This was so bad that additional funds were even required to pay the bills, so there would be no point in saving money when there were so many important bills that still needed to be paid. Therefore, although people still wish to save, the current state of affairs makes this challenging.
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People still save money, but only after important expenses have been paid. Nowadays, very few people have jobs that allow them to save money after taking on obligations. It is impossible for someone without sound financial standing to save, unless they wish to deny themselves many things, which can be extremely difficult because doing so would mean they are not living.
I have personally tried numerous savings plans, but they have all failed because, after paying the big bills, there is nothing left over. This was so bad that additional funds were even required to pay the bills, so there would be no point in saving money when there were so many important bills that still needed to be paid. Therefore, although people still wish to save, the current state of affairs makes this challenging.
Not spending doesn't necessarily mean not living, it's just a way forward of living disciplined life with the way we wanted not under some company influence. Lack of money is different issue which also exists due to the high inflation and not enough salary appreciation. So when we feel that we are too tight to pay bills even if we cut all the unwanted expenses then it's time to think about making more which can be done via switching jobs or working on an additional job.
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Well, maybe you're right because of the increased in business advertisements. I also think people almost always choose convenience over sacrifices that's why we rather spend to make like easier for us. With the more aggressive marketing that company do these days, they are more likely to attract more consumers.
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Maybe we're looking at a different place, but I noticed the opposite trend. My family and friends share how difficult it is to save their money because things get so expensive lately, which shows that they know saving is important. If anything they feel the need to invest even more nowadays because they fear inflation will hit them hard in the future. But I do agree that some people do have a higher tolerance for risk nowadays, especially the younger ones. That's probably why they're interested in crypto or other high-risk assets, to begin with. CMIIW.
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Here salaried people's portion of salary each month automatically goes into savings, so there is that. For self-employed ones, it's bit of trial and error thing as they learn to manage their finances and find the need to save for future.
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yeah i see kids nowadays are being easy victims of capitalism and overconsumption like you have said living in the present is okay and encouraged but this should only be applicable after you have already secured your future
living in the present is not really the same as just throwing away your future you still need to consider what is to happen to you when something happens i think that we can do both at the same time to some extent do not be too focused on the future but also do not completely forget about it i believe it can coexist and must be done if we want a happy and successful life
Saving is extremely important, but many young people today take it for granted. They tend to spend lavishly without considering the future consequences. This habit of overspending has become prevalent, while saving for future use has taken a backseat.
However, saving is crucial as it provides a financial safety net for unexpected expenses and long-term goals. Developing a habit of saving can have a significant impact on one's financial stability and security.
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Saving money is still a thing especially in times of certainty where banks are failing and rugpulling. Meaning of you have to save, keep the money under your mattress not in the bank because it's not safe anymore.
Th inflation could change the minds of people saving their cash actually. The new way as of now is just to invest either in Gold or BTC. DCAing since they figure it's smarter that way.
You are right mate, instead of keeping money in the bank, you can save it in bitcoin and gradually keep increasing your bitcoin stash because it's a long-term investment project for your future. However, I wouldn't advise plebs to save in gold because it cannot increase your saving like that of bitcoin. Bitcoin is the long term investment trend that big tech firms and government are seeking towards buying. It's good to join the moving train. Gold is old but still the number one asset that has ever lasted long.
Gold is still a valuable asset and it kept increasing too. Gold is just not well recognized by crypto community but the whole world values this hard asset. Just this year it's price almost doubled.
Bitcoin will be good savings because the price moons faster. Saving BTC is just like holding.
Investing in BTC along with gold just incase something happens because of the tension in geopolitics and wars will be an option for anyone.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
savings is all about self discipline,if you do not have that self discipline you can't save,savings is very important,it's help you to meet up unplanned emergency time to come.
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Not all but some especially those social media people are spending too much on nonsense things but in real life they do have nothing like savings.
well you have kids who are easily influenced by trends to thank for that sometimes even adults are easily influenced by trends sometimes they do not even realize that they are just now doing overconsumption and buying things they will use once or twice then never again
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savings is all about self discipline,if you do not have that self discipline you can't save,savings is very important,it's help you to meet up unplanned emergency time to come.
Absolute, people plan to save but fail to do so due to lack of discipline. Controlling money is not easy. There is always a desire to spend whenever there is money, and everything appears fascinating at that point, so without a high level of discipline, the money will be spent on trivialities, and when the time comes to spend on things which are important especially in emergency cases as you said, there will be no money, leaving the individual with regret.
There are mobile apps that can help people save money, and those who find it difficult to save money can use any of these genuine apps. These apps work in such a way that a certain amount is deducted from the account based on how the individual programmed it, and the person does not have access to the funds until the time he has set. This can help the individual stay disciplined with his savings.
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it's help you to meet up unplanned emergency time to come.
Not just your future emergency, it is going to be the deciding factor of your upcoming generations too, people who became rich certainly has the privilege to access good capital that is a big thing and many people are struggling without it. So think about the foreseeable future, it's not just about you but many upcoming generation's fate depends on how we spend our money today.
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Not all but some especially those social media people are spending too much on nonsense things but in real life they do have nothing like savings.
well you have kids who are easily influenced by trends to thank for that sometimes even adults are easily influenced by trends sometimes they do not even realize that they are just now doing overconsumption and buying things they will use once or twice then never again
Absolutely. Social media really has influenced most of us what we saw add to cart haha Overspending is the result of this if we do not have discipline because we don't even have to think if things we like is what we really need or it's just our wants that we can't resist sometimes but I already have learned from my past mistakes that is why I now prioritize my needs then save extra money and sometimes I invest it.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
Saving is one thing that is good and necessary going forward as there maybe emergency situations in such cases what most people revert back to is the saving that they have but the fact is that saving is something that don't create wealth going forward so now a days people now prioritize investment instead of savings because investment is one thing that creates and bring back value for your money instead of keeping your money domant in the bank or in that saving box at home it will be more better that you put your money into a business that will be bringing in something at the end of the day
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the people in my country are so fond of saving money in a piggy bank. that there are demands for piggy bank actually and i used to have one when i was a kid. and so was my mom, savings only help her every time she needs to buy something because we need it. she spend the money she saved because our roof are rotten and rain water goes inside the house. or our cows got sick.
saving money didn't make her rich in the end. what is needed to be taught to the people is to save and build a business.
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In this present days, saving is not an easy task at all now I wonder in the past our parents used to save their money in a box and at the end of the day they use it for something tangible that's how they save cause then there weren't any banks. But now the same money and the same amount they save to build houses if you have it now it's just for peanuts. The economy situation affects successful saving. There are many things that can hinder savings currently it only takes the grace of God to save successfully.
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In this present days, saving is not an easy task at all now I wonder in the past our parents used to save their money in a box and at the end of the day they use it for something tangible that's how they save cause then there weren't any banks. But now the same money and the same amount they save to build houses if you have it now it's just for peanuts. The economy situation affects successful saving. There are many things that can hinder savings currently it only takes the grace of God to save successfully.
In the past, saving money was relatively easier because people had fewer financial obligations and the little they saved could go a long way. A modest amount of savings could help them achieve significant goals, such as buying a car or building a house. However,times have changed. The value of money has decreased, and problems have escalated. We are faced with rising inflation, increasing costs of commodities, and growing insecurities. Our money doesn't go as far as it used to, making it challenging to meet our end needs.
While saving remains important for future security and various aspects of life, it is becoming increasingly difficult.As the saying goes, "How can you save for the future when you're struggling to survive the present" The pressure to make ends meet can lead to further financial strain, making it even harder to save. So, how can we save money when we barely have enough to cover our essential expenses, won't this make our financial problems even more worse.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
The reduced interest in saving and investment is due to the increased rate of financial indiscipline. We have more people becoming more financially indisciplined simply because financial discipline or any financial regulated subjects are not treated in the curriculum of students who are young and growing into the world. I think there should be a lot of importance placed on practical knowledge concerning life because then it will be very helpful.
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We have more people becoming more financially indisciplined simply because financial discipline or any financial regulated subjects are not treated in the curriculum of students who are young and growing into the world.
I don't recall having one lesson dedicated to that when I was in high school either. I'm not sure how effective it will be when educational institutions can't control factors like living conditions that encourage reckless behavior more for their students either. I do agree that it's not a bad idea to have a seminar or education about it though, but the bigger factor is probably the environment, parental guidance, and healthy living conditions. It's hard to talk about saving for people who can't eat regularly for example.
But as I said earlier on this thread, I think there's also a trend of people becoming more interested in medium-risk investment because they realize that everything is more expensive nowadays. Not to mention inflation hits hard, at least that's what happened in the computer industry. Buying a GPU feels like buying a car in my country right now.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
I think people still have the intention to have savings for the future. However, it is getting difficult because of the price increase of goods and services. People get difficulties to get side incomes, but the price change of goods and services are happening more often. As the result, people have no money for savings.
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
People may be aware of the life changes. But sometimes they have no choice to deal with the changes. We can't generalize the condition of each person, many of the people have a very poor financial stability. In this condition, they have no chance to think about savings.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
I think people still have the intention to have savings for the future. However, it is getting difficult because of the price increase of goods and services. People get difficulties to get side incomes, but the price change of goods and services are happening more often. As the result, people have no money for savings.
that is a good point and a very valid one nowadays it seems like just one source of income is no longer enough for us to pay all of our bills and our expenses and if you are someone who can't budget well you will certainly find yourself with no savings actually even if you cut short your expenses it is still almost impossible to save huge amounts unless you are earning huge amounts with just one source of income
this is why investments are such an important part of our life and making sure that we stay afloat despite economic downturns
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that is a good point and a very valid one nowadays it seems like just one source of income is no longer enough for us to pay all of our bills and our expenses and if you are someone who can't budget well you will certainly find yourself with no savings actually even if you cut short your expenses it is still almost impossible to save huge amounts unless you are earning huge amounts with just one source of income
this is why investments are such an important part of our life and making sure that we stay afloat despite economic downturns
Savings are only possible once bills have been paid. As you mentioned, income is no longer enough, making it difficult for people to save. It will be unreasonable for someone to save money when they have bills to pay. Consider someone who refuses to eat or attend medical appointments in order to save money.
The savings will not be worthwhile because a person must prioritize his well-being before saving, and denying himself basic necessities of life in order to save money is a huge mistake. As the saying goes, health is wealth, and this also applies to saving; you must be healthy in order to save money.
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People may be aware of the life changes. But sometimes they have no choice to deal with the changes. We can't generalize the condition of each person, many of the people have a very poor financial stability. In this condition, they have no chance to think about savings.
Valid point, I am not criticizing those people who is struggling to meet their ends but the others who are living comfortably by spending all their salary into their needs and wants without thinking about the near future. It's obvious that they are influenced by many things to buy fancy clothes, expensive household items when they can buy similar at cheaper price with different brand name.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
My opinion is that simply accumulating money “in a piggy bank” is not the right way to go.... But let's start from the other side.)
1. lack of financial literacy and understanding of what is the management of their finances, plays a cruel joke with most people, and it consists in the fact that people start.... “put in the piggy bank”... This means that over time, the value of the money put aside decreases due to the well-known inflation.
2. There is a more correct meaning of “financial cushion”. In the simplest sense - it is a certain amount of money, which in a critical situation, for example, will allow to live normally for some time. According to my concept, this time should be at least 3 years, because situations can be absolutely different. But here it is better to be reinsured and have a reserve for a long period of time.
In my vision, a “financial cushion” is a diversified stock of various, highly liquid assets. A small part - in local currency, to solve issues “here and now”. Another part - in conditionally stable currencies (dollar, euro, Swiss franc,...) - those currencies that you can always exchange for local currencies anywhere in the world (except for some very specific countries), to meet your current needs. And then it gets more interesting :) The rest can be “stored” in gold, cryptocurrencies, real estate, shares of large and promising companies. Such a “basket of assets” will allow you to form a “financial cushion” that you can use at any time, and due to diversification - you will have reserves that will be minimally exposed to inflation, and with some probability even multiply savings, due to appreciation.
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1. lack of financial literacy and understanding of what is the management of their finances, plays a cruel joke with most people, and it consists in the fact that people start.... “put in the piggy bank”... This means that over time, the value of the money put aside decreases due to the well-known inflation.
2. There is a more correct meaning of “financial cushion”. In the simplest sense - it is a certain amount of money, which in a critical situation, for example, will allow to live normally for some time. According to my concept, this time should be at least 3 years, because situations can be absolutely different. But here it is better to be reinsured and have a reserve for a long period of time.
Understanding finance and money needs deep skills and knowledge but it doesn't mean everyone has to be an expert to start saving and become rich, at least they have to start somewhere even if it's a piggy bank which is kind of baby steps towards teaching the top of a hill. So they need to realize start saving is the key, once they started savings their interest towards money will increase for sure and that's the way to learn about investing, diversification.
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I think most people want to save a large part of their income because they are certain about the future. Because if they don't save money at the right time, they may face various problems in life. If you work with a fixed goal in mind then continuous planning of the goal will help you stay focused. Every person has some goal in life due to which people want to save money. Some people save for short term financial goals, such as buying a car or a house, while others save for the long term, such as retirement funds or education and investments. From almost every rich person biography you will find images of saving money.
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I think most people want to save a large part of their income because they are certain about the future. Because if they don't save money at the right time, they may face various problems in life. If you work with a fixed goal in mind then continuous planning of the goal will help you stay focused. Every person has some goal in life due to which people want to save money. Some people save for short term financial goals, such as buying a car or a house, while others save for the long term, such as retirement funds or education and investments. From almost every rich person biography you will find images of saving money.
I am also agree with your prefer comment. Because we know that every people want to savings a best amount for there future time. Because if we can not saving asset in future, then we can be fall in many problem. I am also agree with you, because if we follow in every famous or rich people we can understand important of savings. So if we can saving money for our future, then our old life will be very happy for long time. So obviously we should trying to understand in saving money for future.
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Yeah, it seems people today care less about saving money for the future. Many of them just want to enjoy life now, which isn’t bad. But if they don’t plan, they might face tough times later with no backup. Life is unpredictable, and having some savings can help when things go wrong.
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People lack the concept of savings because savings sometimes it's slow and sluggish. It takes time to save a substantial amount of money needed to carryout a meaningful project. People in most cases tend to tilt towards their flesh. They might quickly touch or lay hands on their savings
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People lack the concept of savings because savings sometimes it's slow and sluggish. It takes time to save a substantial amount of money needed to carryout a meaningful project. People in most cases tend to tilt towards their flesh. They might quickly touch or lay hands on their savings
Not enough source of income can cause it to slow and being sluggish for those with high paying job it's easy for them but sometimes their spending habits will keep them away from savings. In a tight situation for us who have no stable source of income it's really that hard and might spend what has been saved.
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People lack the concept of savings because savings sometimes it's slow and sluggish. It takes time to save a substantial amount of money needed to carryout a meaningful project. People in most cases tend to tilt towards their flesh. They might quickly touch or lay hands on their savings
It is determined by how much you save, your goal, and the length of the savings period. These are the factors that determine whether or not saving is slow. A person who earns a reasonable amount will save more than someone who earns little.
Savings are only slow when income is low because there will be nothing reasonable left after paying bills, so the little that is saved will be small as well. This is why it will take a long time to make a decent savings.
Savings are also influenced by the amount targeted and the length of time spent saving. Some people make short-term savings, and the amount they want to save is not large, making it easier for them to achieve it regardless of whether their income is large or small.
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Yeah, it seems people today care less about saving money for the future. Many of them just want to enjoy life now, which isn’t bad. But if they don’t plan, they might face tough times later with no backup. Life is unpredictable, and having some savings can help when things go wrong.
We can get into great illness at any time so it is important to save money. Also, money is always needed because it requires a lot of money to manage life. From our treatment to food, clothing, everything is needed money. There are many people who make money completely because they want to lead a life of joy in different ways. Those who do not want to save are big mistakes because if you see the money crisis, then you suffer from complications to fulfill it.
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I think most people want to save a large part of their income because they are certain about the future. Because if they don't save money at the right time, they may face various problems in life. If you work with a fixed goal in mind then continuous planning of the goal will help you stay focused. Every person has some goal in life due to which people want to save money. Some people save for short term financial goals, such as buying a car or a house, while others save for the long term, such as retirement funds or education and investments. From almost every rich person biography you will find images of saving money.
Saving is good and those people that are into short-term savings can do that in the bank but for thoss that want to save money for pension or as their retirement funds which involves the future, shouldn't put such money in the bank. It's better that you usw it to buy bitcoin whenever you have the money because fiat depreciates overtime but bitcoin price increases overtime.
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Yeah, it seems people today care less about saving money for the future. Many of them just want to enjoy life now, which isn’t bad. But if they don’t plan, they might face tough times later with no backup. Life is unpredictable, and having some savings can help when things go wrong.
We can get into great illness at any time so it is important to save money. Also, money is always needed because it requires a lot of money to manage life. From our treatment to food, clothing, everything is needed money. There are many people who make money completely because they want to lead a life of joy in different ways. Those who do not want to save are big mistakes because if you see the money crisis, then you suffer from complications to fulfill it.
When you have enough money at a time, it is not bad if you live your life to the fullest. Because there is nothing wrong with someone enjoying the fruits of his labor. but if you are living in the present don't forget to think about the future. Because you don't know the difficulties and challenges that you may face in the future. Saving a potions of your resources, income or money for future use is very important, but to whom it may concern. Lavishing your money wouldn't yield a good result if you come across any challenges e.g accident, sickness or any financial problems in future. No one pray to come across any problem or difficulties, but we have to prepare for the uncertainties of life, incase by any chance we come across them.
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Yeah, it feels like people are less into saving for the future these days. Everyone's caught up in living for the moment, spending on things that make them happy now, which is fine to an extent. But the problem is, if you don't plan for tomorrow, you might get stuck in a bad spot later with no way out. Life can hit hard, and without a safety net, it’s tough. A little balance between enjoying now and saving for the future could save a lot of trouble down the road.
Anyone who chooses to live by the moment will suffer in the long run when the bone and strength are weak. It's better to suffer it now at your youthful age and enjoy your life at old age when others will be struggling to survive to pay their bills and family bills
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Yeah, it feels like people are less into saving for the future these days. Everyone's caught up in living for the moment, spending on things that make them happy now, which is fine to an extent. But the problem is, if you don't plan for tomorrow, you might get stuck in a bad spot later with no way out. Life can hit hard, and without a safety net, it’s tough. A little balance between enjoying now and saving for the future could save a lot of trouble down the road.
Anyone who chooses to live by the moment will suffer in the long run when the bone and strength are weak. It's better to suffer it now at your youthful age and enjoy your life at old age when others will be struggling to survive to pay their bills and family bills
Yeah, living just for the moment might feel good now, but when you're old and weak, reality will hit hard. It's better to hustle while you're young so you can relax later, instead of struggling when you should be enjoying life.
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I think that people not only lack control of savings, but many dont know how to manage their finances. When given a lot of money or suddenly receiving them, all what majority knows what to do is spending them, spending them quickly, spending them on items that will lose in value soon. As some random people what will they do if they get a million. Buy car, gadgets, clothes, maybe a house. They will try to spend all the money in no time, not thinking about future.
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I think that people not only lack control of savings, but many dont know how to manage their finances. When given a lot of money or suddenly receiving them, all what majority knows what to do is spending them, spending them quickly, spending them on items that will lose in value soon. As some random people what will they do if they get a million. Buy car, gadgets, clothes, maybe a house. They will try to spend all the money in no time, not thinking about future.
Sad to say that it is true. One day millionaire is a common habit for most people who do not value financial stability and that what really is happening around me right now like my neighbors got a never ending parcels of items they don't even need because it was just their wants. They spend money on gambling, parties, and unimportant travels that which make them spend more of their hard earned money and then the next day you may see posts on social media to beg for mobile load, electronic cash and financial problems which is very funny and one more thing they may send private messages to borrow money. 😅
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
Not all but some especially those social media people are spending too much on nonsense things but in real life they do have nothing like savings. Maybe they have plans but when procrastination strikes it's not gonna happen which is a sad part but for me personally I do save and at the same time invest. I fully understand that life is hard now but still I am able to secure small fund to help me out during emergency situation though not that big but atleast I have one.
Yes, you are right because no one knows what tomorrow holds for us, that is why it’s essential to have savings in case of emergency just like you said. Not that investment is not necessary, because it’s not every time we always benefit from investment and it may not be help to us, as of that moment when we need it but with savings, we can solve some important issues that require immediate effect. So in as much we also invest, we shouldn’t neglect the importance of savings too because it really helps.
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Yeah, it feels like people are less into saving for the future these days. Everyone's caught up in living for the moment, spending on things that make them happy now, which is fine to an extent. But the problem is, if you don't plan for tomorrow, you might get stuck in a bad spot later with no way out. Life can hit hard, and without a safety net, it’s tough. A little balance between enjoying now and saving for the future could save a lot of trouble down the road.
Anyone who chooses to live by the moment will suffer in the long run when the bone and strength are weak. It's better to suffer it now at your youthful age and enjoy your life at old age when others will be struggling to survive to pay their bills and family bills
There are skills that can ensure one gets to work with their brains or use their intelligence more than their strength, and it is such skills we should endeavor to invest in so as we always have a stream of income coming in.
Still, when one learns to save, it becomes a habit that teaches patience and the importance of discipline in the form of delaying gratifications for a better future,.it always assures the best returns.
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Yes, you are right because no one knows what tomorrow holds for us, that is why it’s essential to have savings in case of emergency just like you said. Not that investment is not necessary, because it’s not every time we always benefit from investment and it may not be help to us, as of that moment when we need it but with savings, we can solve some important issues that require immediate effect. So in as much we also invest, we shouldn’t neglect the importance of savings too because it really helps.
Indeed, savings is important because we must face urgent needs (emergency), financial crisis, or many other possible cases in the future. It we have no savings, we must take a loan from other people or banks. This won't be an ideal way because we must pay some interests from the loans. And sometimes there are many difficult requirements as well. So, it is better to prepare money, so we must have savings.
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Usually, it depends upon the government and overall conditions of an economy. If your country has robust infrastructure and ample social security, you will not have the want to save money. I am talking about masses, not a few ambitious individuals.
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Usually, it depends upon the government and overall conditions of an economy. If your country has robust infrastructure and ample social security, you will not have the want to save money. I am talking about masses, not a few ambitious individuals.
I don't agree completely with you on your point that you made because when it comes to the issue of saving it's more of a personal attribute and has nothing to do with the economy of a nation because even in countries where their economies are performing well any one who is prudent with money can still save you can't tell me that it's because the economy of your nation is good that is why you can't save, what you into know is s that economy is personal because in every country that you go to no matter how good the economy of that country is there are still poor people this is so because they lack things like saving and investment which is key to their prosperity
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
If we are going by the way of analyzing on the actual conditions on ground, we have them both happening in this present dispensation, whereby you discover some making up with savings and some are not doing anything related to that, now there are conditions that may follow either of the choices.
1. Some are earning lesser a d can't afford to safe.
2. Some are earning bigger and are saving.
3. Some earn bigger but couldn't manage to save up.
4. some ear as little and still ended up saving some.
We should have no any reason or excuses for not saving anything at all, because this is all about the future ahead and not the present conditions.
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Indeed, savings is important because we must face urgent needs (emergency), financial crisis, or many other possible cases in the future. It we have no savings, we must take a loan from other people or banks. This won't be an ideal way because we must pay some interests from the loans. And sometimes there are many difficult requirements as well. So, it is better to prepare money, so we must have savings.
That’s true.
And asides the interest attached to the loans, there’s something about taking up loans, taking a loan is always easy and simple, but when it comes to repaying the debt, it becomes difficult, and not always as easy as it seemed when you were taking it. This is always because there’ll always be expenses to sort on a daily, weekly or monthly basis, so even when you’re able to pay up the debt, you’d definitely feel the pressure.
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Usually, it depends upon the government and overall conditions of an economy. If your country has robust infrastructure and ample social security, you will not have the want to save money. I am talking about masses, not a few ambitious individuals.
I don't agree completely with you on your point that you made because when it comes to the issue of saving it's more of a personal attribute and has nothing to do with the economy of a nation because even in countries where their economies are performing well any one who is prudent with money can still save you can't tell me that it's because the economy of your nation is good that is why you can't save, what you into know is s that economy is personal because in every country that you go to no matter how good the economy of that country is there are still poor people this is so because they lack things like saving and investment which is key to their prosperity
Your surrounding economic system dictates your behavioural patterns. If you are born and brought up in a developed country where social security is high, you will not inculcate the habit of saving in order to survive. But in developing nations people need to deal with their basic needs on their own so they give more importance to personal savings. Again, this is a general theme, and some individuals will surely show deviations from it.
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I think most people want to save a large part of their income because they are certain about the future. Because if they don't save money at the right time, they may face various problems in life. If you work with a fixed goal in mind then continuous planning of the goal will help you stay focused. Every person has some goal in life due to which people want to save money. Some people save for short term financial goals, such as buying a car or a house, while others save for the long term, such as retirement funds or education and investments. From almost every rich person biography you will find images of saving money.
I know that saving money is only practical for those who don't like flamboyant lifestyle and have cashflow management. You can start learning it. I could remember when I was a kid, if people gives us money, we put it into a saving box and pile it up to tgree years. Anytime, I break the saving box, I am ready to use the money to buy a toy and a video game. Saving help the plebs to achieve something of big value in the long run.
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Usually, it depends upon the government and overall conditions of an economy. If your country has robust infrastructure and ample social security, you will not have the want to save money. I am talking about masses, not a few ambitious individuals.
Having emergency funds is an act of saving not unless not unless you are on the same shoes with me who is not able to secure that kinda fund or you might be a wealthy person that has all the things you need in life. I don't think people living in first world countries don't save money for something or they just want the other option which is investing it and for me both of them are good.
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Yeah, it feels like people are less into saving for the future these days. Everyone's caught up in living for the moment, spending on things that make them happy now, which is fine to an extent. But the problem is, if you don't plan for tomorrow, you might get stuck in a bad spot later with no way out. Life can hit hard, and without a safety net, it’s tough. A little balance between enjoying now and saving for the future could save a lot of trouble down the road.
Yeah, this generation, most people forget the concept of saving, they only put their effort in their lives at the moment, with the mindset that’ one who is alive is the one who will save for the future, forgetting that not everyday is same, some days might be good and some days might be bad, what if it’s bad days, that means you will go begging for alms. So that is why it’s important to save while we are also spending, in order to avoid suffering and humiliation.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
Some people were too relaxed because of being overwhelmed by how far today is and not minding to carter more for tomorrow by making some savings for it, we cant expect to continue having the same thing repeatedly over time, because things are changing, the ways money is coming in for us may not have to be the same as it may continue to be later in the future, but what we might have saved up could be something tangible for us to fall back on.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
Some people were too relaxed because of being overwhelmed by how far today is and not minding to carter more for tomorrow by making some savings for it, we cant expect to continue having the same thing repeatedly over time, because things are changing, the ways money is coming in for us may not have to be the same as it may continue to be later in the future, but what we might have saved up could be something tangible for us to fall back on.
They way that you lay your bed is how you will lie on it. If you believe to have a better life in future, then when you're making money from whatever gives you an income, you will take your time to plan for your tomorrow by saving to save you from the challenges of the future. It's not just to save but use your savings wisely to invest because Fiat depreciates. Only if you're saving in bitcoin, probably the best.
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Do you think nowadays people seems to be less interested in saving their part of income for the future needs?
Because it's evident that people changed a lot, now the trend is to live in the present which is okay but it's necessary to plan the future too or else will be going down hard and there will be no one to help from that trap.
Some people were too relaxed because of being overwhelmed by how far today is and not minding to carter more for tomorrow by making some savings for it, we cant expect to continue having the same thing repeatedly over time, because things are changing, the ways money is coming in for us may not have to be the same as it may continue to be later in the future, but what we might have saved up could be something tangible for us to fall back on.
They way that you lay your bed is how you will lie on it. If you believe to have a better life in future, then when you're making money from whatever gives you an income, you will take your time to plan for your tomorrow by saving to save you from the challenges of the future. It's not just to save but use your savings wisely to invest because Fiat depreciates. Only if you're saving in bitcoin, probably the best.
Very much true. The constant devaluation of Naira, make saving in Naira even unwise. I know a few of my secondary classmates who where crypto experts. They invested most of the money they received from their rich uncles and aunty in buying of coins and digital assets, and today they are swimming in money, I know a few of them who has even travelled abroad. The reason for this story is just to tell the importance of saving and not just saving but saving through investments( through buying of crypto assets). You don't even have to be a multi-millionaire to be able to invest in cryptocurrency, with the little money you have you can make it happen.
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Yeah, it feels like people are less into saving for the future these days. Everyone's caught up in living for the moment, spending on things that make them happy now, which is fine to an extent. But the problem is, if you don't plan for tomorrow, you might get stuck in a bad spot later with no way out. Life can hit hard, and without a safety net, it’s tough. A little balance between enjoying now and saving for the future could save a lot of trouble down the road.
Yeah, this generation, most people forget the concept of saving, they only put their effort in their lives at the moment, with the mindset that’ one who is alive is the one who will save for the future, forgetting that not everyday is same, some days might be good and some days might be bad, what if it’s bad days, that means you will go begging for alms. So that is why it’s important to save while we are also spending, in order to avoid suffering and humiliation.
This generation (I am speaking about people who really could save some money, but instead prefer to spend everything) havent faced real life difficulties. I think a life lesson, when person becomes broke or faces a situation when he urgently needs a lot of moment, will teach people to save or choose attitude to money. If people never been on poverty line, they will never understand concept of saving and having money pillow for bad day.