Quote from: Savemore on Today at 11:19:04 AM

Quote from: Fredomago on January 12, 2023, 07:56:13 AM

Quote from: milewilda on January 09, 2023, 11:24:22 PM

When you are in a situation which you do have a family and the expenses are really that big due to lots of children then it would really be that hard to make up some savings.
I do know someone who is really that reliant with his crypto earnings which is surprising and its been several years on which he had able to make money still despite on having no job
physically.It might really sounds easy to say that saving up some one third of your income but its actually that hard for it to be done when you are on such situation.
Unless if you do have other sources of income then it would really be able to patch up.

Other sources of income can give you that chance to save more, but the concern of having too much expenses means that you won't be able to work with it, unless you can really take things seriously and plan all your expenses, most of the time there are emergency that you need to use your save money, things that is not part of the plan but it happen and there's nothing that you can do.

Being aware to your cashflow can help you manage your fund. If you know how much money that is entering your cashflow and the money going out from your cashflow; it can help you to make a better financial decision. If you have a high lifestyle, saving one third is not possible and that's why I preach to have a lifestyle that can help you to save more than 60% of your income that you can use to invest it not only in assets but also in yourself that can help you to make more money. Right now, I'm saving the 70% of my income and I put it on my investment where I can reap it in the near future.

Saving is important - but for me saving a one third of the money is not even possible. I am so bad at it - I try doing it and fail all the time.
Neither do I have an emergency fund.