moonchild
VIP Contributor
Saving means keeping some part of your income for a later use, this could be 10%, 15% or even more aggressively 50%, depending on your expenses, but to an extent, that is if saving is extended on a very long term it loses it's cred, for example if you want to get rich, the last thing you should be thinking of is saving, it is not going to get you rich.
I think saving is important if only geared towards a goal, let's say a machine you want to buy t do a business or an asset you want to buy with the hope of making profits upon it's appreciation but outside of this, saving just for the sake of it will not help you much, it is at best going to keep you comfortable and make you complacent, when you are just starting out, savings might be important to get somethings out of the way like rent, food and other basic needs.
But out of that you are better off working on getting actual freedom which is by building a business and making it profitable, it doesn't make any sense to be in your old years and still thinking about money problems because you followed the mainstream advise.
I think saving is important if only geared towards a goal, let's say a machine you want to buy t do a business or an asset you want to buy with the hope of making profits upon it's appreciation but outside of this, saving just for the sake of it will not help you much, it is at best going to keep you comfortable and make you complacent, when you are just starting out, savings might be important to get somethings out of the way like rent, food and other basic needs.
But out of that you are better off working on getting actual freedom which is by building a business and making it profitable, it doesn't make any sense to be in your old years and still thinking about money problems because you followed the mainstream advise.