Quote from: Freeesta on April 25, 2022, 09:59:17 PM

Quote from: paxmao on July 08, 2021, 09:53:19 AM

It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...

Savings are needed every day. We can't get good capital if we don't learn to save. As a result of the savings, funds are collected that we can invest. If we save now, then we can make investments that will allow us to have a great future. Money in a bank account can be profitable, but it is more about saving. This is a very interesting activity, in this case, even saving money can become an investment.

Investment is always risky and we will not be able to predict everything, so saving is extremely necessary. Savings will be the necessary supplement for us to increase our investment ability, we can deduct part of our savings to invest. This will be safe for our finances. For me, savings is also an investment, although not as profitable as an investment, it will be safe and can be used in urgent cases.