Invest or save? Multiply or add?

in Project HOPE3 months ago

Hello community, very good start of the week to all. I have been thinking a lot lately about saving and investment issues, reading a lot too, because it is something that nourishes us permanently, if we want it. And if we are heading towards the goal of being able to have a diverse and lasting income "training " must be something constant.

Many people who focus on traditional finances and I could say that many times "archaic", think that the best thing to do is to save, to have your savings account, among other similar things. Well, yes, you have to save, you have to have a fund for emergencies, but is it really profitable to have money in the banks? In my opinion, simply no. I am currently of the opinion that idle money produces nothing, that fiat money is in permanent devaluation and that it is absurd to keep it, especially if we focus on analyzing those countries that are in crisis and the rate of devaluation is very high.



I remember that in my country, Venezuela, about 20 years ago, before this current crisis began, an aunt was a millionaire, because she had always had a good business, which managed everything in fiat currency, that is to say in "bolivars ", however, it never occurred to her to buy dollars to somehow back up the money, she never dared to do anything else.

Of course, I know that the dollar is a fiat currency as well and that like all of them, it suffers from devaluation, however, I believe that it is the one that devaluates the least of all, and it is also still the main exchange currency worldwide, which makes backing physical money in this currency a little more stable.

The years went by and the devaluation of money became present on a large scale, leaving her with very little money, and she found herself in a very bad situation, and all that she had been able to save for so many years was simply reduced to nothing, sad, Do you not think so?.

These things have served me as a great learning experience, and nowadays I always try to have what I need for my monthly expenses and a little surplus, the rest is better to have it producing, not paralyzed, not converted into Fiat because I sincerely feel that I lose, that it is devalued daily.

Luckily I am in this field of cryptocurrencies, in which options are constantly emerging, and that by studying very well these opportunities you can take advantage of them.

I am not against saving, but as long as it is for a specific purpose, I am more inclined to investments, since they put the money to produce, much more than what you can generate in a bank by having the money there.

I think that saving is necessary, of course, but for specific purposes, when we save the capital is added, and that is a good thing, however, when we invest, when we make a good investment, the money is not added but multiplied, and that is what is more important.

Of course, what I have said in the course of this publication are personal thoughts, but I would like to know your opinion regarding this subject, what is better for you?

Invest or save?

Thank you very much for reading me, excellent week to you.


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Hello friend @josevas217

Good topic to start the week, this expression "fiat money is in permanent devaluation and it is absurd to keep it" is a strong reality, however, in cases like Venezuela taking refuge in an international currency can mean a lot. These last months I have also been in this internal debate between saving and investing, in my case at the moment I decided to diversify and I took as an option to place a percentage of my resources in savings, allocate a fund for trading, leave a fund in Holder, and invest another percentage in projects with medium term profitability.

Greetings, be well.

It is a good distribution of your money, one way or the other you will make a profit, which is what you want. I also have something earmarked for trading, actually, I had not contemplated it.
In Colombia, keeping money in dollars is still a way to keep your money safe, fortunately. Good and productive week to you.

I tend to go for the option to invest, although he considered that it is prudent to have a balance between both parties, that is to say a little in the bank and a little invested.
In my case, I find it very prudent to use cryptocurrencies, and at the moment I am staking a token that I recently acquired for $ 40, I still have my $ 40 investment intact, which I can exchange for any cryptocurrency at any time.
I think that for countries that have too wild inflation It is the best thing to do.

Yes, that is another important point, it all depends on the economy of the country we live in, surely citizens of stable countries have no problem with keeping their money in the bank.
Particularly I am investing, only leaving what is necessary for monthly expenses in fiat money. But, everyone is adapting their finances to their reality.
Thanks for commenting @reinaldoverdu

Saving by putting money in banks has always seemed to me a utopia, since they make money with yours, something you can do but for reasons often of ignorance do not do, but you can not have the money in your house, there must be some way to get out of it, so to speak. Before they used to bury them in chests in the yard or put them inside the mattresses as a way that it would not be stolen by third parties, until someone thought of keeping them for third parties and from there the custom of putting them in the banks started. In order not to fall into the above, it is necessary to invest it, to transform it into merchandise that can be sold or resold or in ventures that produce that money to multiply. I agree with you about not saving in banks. @tipu curate 3

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Greetings friend @josevas217, I agree with you, maybe because we have seen how in Venezuela simply can not save, having idle money is to leave it at the mercy of devaluation, as you say, it is good to save for a specific purpose, buy a house, a vehicle or for an emergency fund for example, I know people who in a good moment of their economy acquired land and houses, something whose sale during this crisis allowed them to reinvest that money.

Hi @josevas217!
As you say, in the past you could save here in order to acquire something specific. I remember that this is how I got to buy my car and many other things because I set the goal in a certain time and I did it. But everything has changed drastically, and I think that if I invested in some business today it would help me a lot and not only depend on a single job. Greetings!

If everything goes 50% and 50%
This will be the best equation

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There are those who go there, or go to savings 40% and investment 60%. The point is that I think it depends to a large extent on what each person is looking for, and whether they take risks or not. Thanks for commenting @natalia-irish

This is exactly what I do with crypto via fiat. I'm still surprised that my government allowed this thing to take off, but now that they have, we might as well take advantage of their distraction. Good on you for taking action on the lessons you learned from your Aunt, I hope it works out well for you! :)

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Lately I have been a little more cautious in investments, a few months ago I was taking more risks, but I studied the projects less, which led me to lose a few dollars, however, I learned, which is the important thing.
Thanks for commenting @evernoticethat

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  1. Save for emergency funds, that too in a stable currency!
  2. Become debt-free.
  3. Invest in such a way that covers not only inflation but gives you more flexibility in terms of currency.

Certainly, the emergency fund cannot be forgotten in our budget, I have recently talked to my wife about it, to get serious about having a good coverage with this fund.
Thank you for your comment @vixmemon

Hello friend, certainly saving is not bad, but the best thing would be to save but at the same time produce or multiply the money, and today we know that it can be done. It is true that banks really only serve to waste our time and money. The world of cryptocurrencies came to open our eyes to something new and that apparently will last in time. Greetings!