Quote from: bounceback on June 11, 2025, 01:26:14 PM

Quote from: kotajikikox on May 21, 2025, 04:04:26 PM

Earning money is hard. Saving money is hard. Getting rich and being able to live comfortably is hard. 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?

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.

If saving alone will not be enough to get out of poverty because the more money we save, the higher the inflation rate in our finances, maybe in this situation I think investing is one way to overcome poverty because by investing, our financial portfolio can grow, from year to year the Central Bank always prints fiat money so that without realizing it, the longer the inflation will increase and this is a very difficult problem for every country to handle.
In today's era, if you want your money to always be valuable, try to put it in an investment place and this is the right decision.

If you only have one source of income, you can't get out of poverty, even if you invest in it with the money you earn, you have to think first before acting. Are your needs or what you earn enough to meet your daily needs until you finally get back the income? If it doesn't meet your needs, don't force yourself to invest, what you have to think about is how you should find additional money outside of your job to increase your income. If you think it is stable enough to meet your daily life, you can invest where you like.