Quote from: gunhell16 on Today at 05:05:18 AM

Quote from: serjent05 on September 01, 2023, 10:23:50 PM

Quote from: Etranger on September 01, 2023, 02:14:38 PM

Quote from: red4slash on August 31, 2023, 04:13:05 PM

I always differentiate money for saving and money for investing, why? yes it is a form of my preparation so that I don't have to sell my investment when something urgent happens in the future because I still have savings money ready for me to use.

I definitely get the point of such a diversifying, however, I think, that this is also a matter of time. If you prepare your savings in fiat for a long time, they will become victim of inflation, unfortunately. This is why, in my opinion, from time to time you have to convert this fiat savings into more reliable assets. While having some savings in fiat, especially in cash, is undoubtedly important, it is also worth remembering that this form of keeping money is not truth worthy.

Saving without any purpose of investment is like wasting money bit by bit due to inflation. If we save, we must make sure that we are allocating it for future ventures that will gain us more money so that we can negate the effect of inflation and at the same time we can have more sources of income. This is like making money out of our money. We should also allocate funds for emergencies so that we won't be in trouble when the time comes that we need urgent money.

Yes, that's right, buddy. When everyone is able to manage their money, it's no surprise that they can build up savings for the future and, in addition, can set away money for an emergency fund. A savings account and an emergency fund are the first two ways we can save money.

If we learn to manage our spending, this is the main outcome. Who will gain from it, too? Of course, for us as well as our loved ones, who are important to us. We are merely preparing ourselves for events we do not anticipate occurring as well as the future we want for our loved ones.

Emergencies and unfortunate events could really happen in someones life which it would really be just that normal that you should really be that be prepared on such thing.We arent wishing for those things though

but there are really moments in life on which you would really be needing that financial back up which it isnt really that limited to yours but also into your loved ones too on which it would really be just
that normal that you would really be needing to be prepared because on the time that you dont have money specially into those times that you are needing it then you would really be opting to take
a loan and would really be putting yourself into much trouble since you would really be needing to pay it up with interest.