There's a little trick there, I mean how do one spend money while one is busy saving money? Both actions are contradicting each other but then, it is an act that makes financial freedom feasible. You can't save only into financial freedom, it means you didn't learn how to spend actually.
Saving money is important but learning how to spend well is more important... Do you get where I'm coming from about this now?
Image designed here
What's the essence of saving when you can't spend well?
No essence really because in the end when you have so much saved, you spend them carelessly and be in financial bondage again. I've seen rich people hit rock bottom simply because of that act, it's no magic... It happens when Priorities aren't set right and discipline isn't added to the money they once had.
Someone once asked me this question... Why is it hard to save but very easy to spend? and my answer to him is what I'll share here again... It has to be that way for the world to have people who are genuinely wealthy you can not be financially free until you learn to spend wisely while you save as much as you can.
And when I say Save... I mean, investing
I think we've past that era when you just save your money to a container or a bank savings account where a cent or penny isn't added to it no matter how long you had left it to save. It's the investing era, you invest and double or at least add a cent to your the money you could have saved.
Of course, you have to be very wise in investing for you to gain from it and that is same thing as you spending wisely while saving towards your financial freedom. It's not an easy feat to gain that freedom but we've seen some people who are comfortable enough with life and are able to have more time for themselves when they achieve it, it is worth working towards.
Stay disciplined with your spending and saving habits, it's a tip you shouldn't take for granted when you are aiming for that freedom.
Live positively and only do things that will keep you happy, keep you healthy and make you money.
I learnt that from somewhere but can't remember exactly, I'm sharing same tip with you.
If what you're doing won't improve your health, stop it
If it won't make you happy, give it up.
If you're not making money from it, let go of it.
There are a lot of things like that, figure them out and have a better focus on the things that are of more importance to bring you what you need to build your life towards financial independency.
Who do you say about saving while you're spending money theory for financial freedom? I'd like to know what you think about it and also your own tips will be very much appreciated too.
It seems to me that in many ways you are right, financial freedom is not only about accumulating money, but also using that money to make it grow in some way. The world of cryptocurrencies has taught us that we have power over our own money; without banking intermediaries, and that we can shape it in many ways.
Very thoughtful article.
Banks in my country are never a good option to save money at all, they keep getting worse with how our money is being handled.
Cryptocurrency is the well and better way 🙂
Thanks for stopping by
Just like you've rightly said, investment is key in saving. I would say not just any kind of investment, prioritizing your investment is key. knowing what to invest in now and in the future is very vital.
Sometimes bad investment decisions aren't just the ones that make you lose money, they could be investments that make you suffer long. Instead of doing a long-term investment that will make you suffer long, it would be best to do a short-term investment that will help you gather for that long-term goal.
I like that idea at your conclusion, doing short terms to gather for long terms 👍
Makes a lot of sense
I like the way you explain it. Everyone is talking about saving but what about spending well. What's the need of saving when you don't have a good spending habit. The investments you speak of. You mean Hive?
That's just it, you can't spend well and you're saving 🤧😂
Investment goes beyond Hive but since we all are reading this on Hive, we could start from there 🙂
I'll have to come to you soon enough for these investment classes please. You seem to have gotten it all covered.😂🥺
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Hmmmmmm
I learnt something today
If what I'm doing doesn't give me peace and good health i'w have to quit
Nice peace of work ma
Kudos
Exactly, that's just it!
I can see that being done in hive. Although I do not know who I'm sure it is a thing.
Yeah, Hive promotes that a lot
I believe both financial skills that you need to learn and master.
Indeed
Good spending habit, is the real game changer on the road to financial habit. One must learn how to spend well.
Yeah, that's it.
Longest time Mmykel 😃
Yep. I have been away for long. But I can't be away forever. Once in a while I have to check on my favourite people.
Hope you're good?
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