Quote from: khiholangkang on June 17, 2023, 05:08:32 PM

Quote from: Uruhara on June 17, 2023, 02:59:45 PM

Quote from: Adams0001 on June 17, 2023, 09:20:51 AM

I believe we should everyone have some money set up for unanticipated expenses. I believe that you should strive to invest more than just save your money at some time.

Having emergency funds on hand is one thing; saving without a specific goal or plan is quite another. When you put extra money in the bank, it simply implies you don't know what to do with it (invest in), and this is where the rich and investors come in. They take your accumulated savings and go out and play with them in the hopes of making more...so they exploit your combined savings to make themselves richer because you don't know what to do with your money.

there is indeed a difference in mindset between ordinary people and rich people. Rich people prefer to make their money produce more for them. So their type of savings is not saving and left exposed to inflation. they don't do that. they prefer to save in an investment that has the potential to bring them more income without them having to work too hard. they make money work for them. different from ordinary people who work for money.

In principle, it has a certain strategy pattern in managing money, people who work for money they have financial rotation on income and needs and for satisfaction in enjoying their lives, but different rich people who have a certain level to get money, they also save but their language is holding cash for emergency funds that are determined for a certain period of time, and then the rich have another income strategy from the management of money, SSay thinks the rich also work for money, but they have money that works for them too so that they have many sources of income that can be on The accumulation is stronger in financial fundamentals.

The term rich person is not saving, but an emergency fund or cash fund to anticipate unexpected things in business or other things.
But I am wrong with this discussion, saving and saving (buying things that are needed only) in English have the same language.

you are right in our local language the two words that are written the same in English actually have different meanings in our country (indo language : berhemat dan menabung). I also have quite a hard time conveying the meaning of the other word because I haven't found a suitable vocabulary in English.

well you are right that they probably do have the same mindset as you describe. they work for money. but money also works for them. the point is they can take advantage of both sides. And it's no wonder the rich are getting richer. because their mindset is sometimes more advanced than ordinary people. and the way they manage their finances is also very neatly organized and planned. so that evaluation and observation becomes easier to do.