Please Save Your Money
Saving money is hard
Many of these financial gurus online will tell you that, no matter what stage you’re at in life, you have to invest money into the stock market or in crypto. Now I personally don’t agree with this sentiment at all because investing in the stock market is a luxury, not a necessity. And well, investing in crypto is just gambling with extra steps if you’d ask me.
I recently did some digging into what most people in the Western World have saved up in their bank accounts and it turns out most people have nothing saved up and live paycheck to paycheck. The ones that have some savings have so little savings that in times of a financial emergency they are unable to come up with enough money. Only a small group of people have genuine emergency savings and an incredibly small group have plenty of savings to not have any type of financial stress whatsoever.
Think about that: most people, no matter how much they earn, have NOTHING saved up at the end of the month. Why in the world would you start investing money if you have no savings? That’s crazy!
Set a savings goal
Now I’m no financial guru, but if there is one thing I’m good at it’s saving money. I reached my savings goal about a year ago and have started investing all of the extra money I now earn into 1 single ETF called ‘IWDA’. I dare to argue that, financially speaking, I’m well above anyone in my age group. But the only reason I was able to achieve this is because I lived frugally and saved my money as much as I could from an early age.
And this is what I’d like to give as advice to anyone: you don’t need to invest your money. You don’t need to buy low and sell high, or invest into a meme coin and pray to the gods that it’ll 100x over a timespan of 5 days. In my opinion, there is only 1 single thing that you should do: set a savings goal and achieve it over a timespan you’re comfortable with.
Reaching my savings goal has made everything about my life easier. I don’t need to worry about any expense that is thrown my way. That doesn’t mean that I spend my money on stupid stuff: I still avoid doing that at all cost. But it does mean that no matter what happens, I can pay for it without getting into financial trouble. This should be anyone’s goal nowadays. Even if you can barely save anything: it’s better to save a little than nothing at all.
Don't waste your money
If there is one thing I refuse to believe it’s that most people CAN’T save. Most people simply choose NOT to save money, which are two different things.
So please, don’t waste all your money, especially when you’re still young. Because eventually you’ll get old, and being able to live stress free at an older age because you’ve saved up plenty is a lot better then spending it all now on dumb stuff.
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