Quote from: Silberman on June 19, 2024, 09:02:57 PM

Quote from: Abiky on June 19, 2024, 08:10:31 PM

Exactly. One must prioritize saving over spending. You'd need to make a budget that would allow you to spend less than what you earn. Avoiding a deficit, is key towards building your wealth. Spare money should be invested in scarce assets like Bitcoin and Gold. "Stick" to the plan, and there should be nothing to worry about.

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Making saving a priority can be hard even for those that have a high income, as many of those fall victims of lifestyle inflation in which every single extra dollar they get is an extra dollar they spend, but this is even more difficult for those that have a low income, since the only way for them to save is to reduce expenses on some key areas of their life, which will bring its own set of problems on the future, and if that was not enough, while saving for a few months is a feasible goal for the majority, to keep doing this for several is years is many times harder, because after those first months people will begin to think they are entitled to spend that money, after all they earned it, and just like that they will stop saving any money which could later be used to invest in an asset which is a store of value.

Saying high income maker can't save is a bullshit, those people are choosing their own lifestyle and the way they live. If you find such people, better to calm down and never discuss about money management because they will never want to learn it, except something big happened them.

Different people different character, one is over saver and one is over spender, it's not something we need to discuss because they're happy with their own choice.