Next scheduled rescrape ... never
Version 1
Last scraped
Scraped on 21/05/2025, 22:30:19 UTC
Earning money is hard. Saving money is hard. Getting rich and being able to live comfortably is hard.
And this is why we need to choose what's hard for us.

But the truth is saving is not enough. Lots of people will ask how to really get out of poverty but the simple straightforward answer is that you need to be earning more than what you are spending. The question begs, is there a way to get rich even if your expenses are higher than what you are earning?
Nope, we give a straight answer. If you want to get rich and based on what you've said, you need to earn more than your spending.

I don't think so. Some people might use credit cards or loans but it is just a cycle of taking a loan then paying it and you are not really moving forward are you? Saving also does nothing much but it can be a good start. You start saving money and at some point when the money is big enough you can start investing. Either in crypto, real estate or in a business. But just saving the money? Unless you want to keep working until the day you die then it will not be enough.
Savings create more better people in the process. It opens the idea of investing and how to manage money properly. While it won't make someone rich but the discipline it trains for people that does it is very useful. There will be people that will say to get debts and use it to leverage, IMO, it's still best to take loans that you can afford to pay anytime than you have to work for it just for you to pay it.
Original archived Re: Saving is not enough
Scraped on 21/05/2025, 22:25:09 UTC
Earning money is hard. Saving money is hard. Getting rich and being able to live comfortably is hard.
And this is why we need to choose what's hard for us.

But the truth is saving is not enough. Lots of people will ask how to really get out of poverty but the simple straightforward answer is that you need to be earning more than what you are spending. The question begs, is there a way to get rich even if your expenses are higher than what you are earning?
Nope, we give a straight answer. If you want to get rich and based on what you've said, you need to earn more than your spending.

I don't think so. Some people might use credit cards or loans but it is just a cycle of taking a loan then paying it and you are not really moving forward are you? Saving also does nothing much but it can be a good start. You start saving money and at some point when the money is big enough you can start investing. Either in crypto, real estate or in a business. But just saving the money? Unless you want to keep working until the day you die then it will not be enough.
Savings create more better people in the process. It opens the idea of investing and how to manage money properly. While it won't make someone rich but the discipline it trains for people that does it is very useful.