Focus more on making money than saving it, it's one sign to become a millionaire | Discussion Bucks

Focus more on making money than saving it, it's one sign to become a millionaire

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Starmix

Starmix

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To focus more on making money than saving it, is one sign that you will become a millionaire. In saving, there's a little gain and sometimes no gain at all. It's the bank that gains, the depositor never. The money remains dead in the bank whereas, if you invest it, there's 100 % guarantee that it accumulates and of course, you have to choose the right investment. If you lack skills ask help to experts don't gamble. Study and be skilled before you explore.
 
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It is only when you are making money that your savings and investments would increase. If you're are making peanuts, you would be saving peanuts.
 
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I agree it is good to save and invest but you can't them without having a source of making money. Devise a means and saving or investing will follow
 
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With the way the inflation is going, if you don't make enough money to keep up, you would surely crash your investment and savings to survive.
 
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Indeed, life is hard this time. We can both do saving and investing to be sure of money every time we need it especially if have chosen the long term investment.
 
Having a source of income is essential if you want to invest your money. It can be challenging to save and invest simultaneously if you do not have a stable job or any income at all.
 
It's important to build the necessary skills to earn money. Without enough skills, we can't earn enough money to invest or to save. A stable job would help a lot and we need to invest wisely our cash.
 
Starmix said:
To focus more on making money than saving it, is one sign that you will become a millionaire. In saving, there's a little gain and sometimes no gain at all. It's the bank that gains, the depositor never. The money remains dead in the bank whereas, if you invest it, there's 100 % guarantee that it accumulates and of course, you have to choose the right investment. If you lack skills ask help to experts don't gamble. Study and be skilled before you explore.
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I agree with you. One reason why interest rates is low is to encourage investment and improve economic activity in the community.
 
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pinway said:
I agree with you. One reason why interest rates is low is to encourage investment and improve economic activity in the community.
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Agree which is why we were not afraid of the wrong investment we recently experience. From that experience we learned a valuable lesson that failure isn't fatal but challenging.
 
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The high inflation isn't helping matters at all. So saving money now isn't even the best thing to do it is making more money
 
The best remedy is find many online side hustles and invest as. much as possible. Life is hard this time.
 
The most setbacks in investment is that one can loose their investments because almost every investment ventures comes with their own risks.
 
The mindsets of the millionaires suggest people to invest more and save less to empower your earnings. That's one way to accumulate wealth.
 
I agree with your opinion, keep making money rather than saving it, if you make a profit from your business, use it to increase capital or expand your business by opening new branches. Meanwhile, profits from investments should be re-invested in other investment products.
 
Suba said:
I agree with your opinion, keep making money rather than saving it, if you make a profit from your business, use it to increase capital or expand your business by opening new branches. Meanwhile, profits from investments should be re-invested in other investment products.
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That must be what qualified people must do. Not all are inclined to business and those incline better follow your good suggestions.
 
Starmix said:
That must be what qualified people must do. Not all are inclined to business and those incline better follow your good suggestions.
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People don't have to follow other people's advice, like my grandma who likes to buy gold jewelry and save it. But if I give advice on investing in gold, of course there will be a heated debate because she doesn't understand investment. :LOL:
 
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Suba said:
People don't have to follow other people's advice, like my grandma who likes to buy gold jewelry and save it. But if I give advice on investing in gold, of course there will be a heated debate because she doesn't understand investment. :LOL:
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Your grandma is also wise on her own misunderstanding 😁. She has her own decision and what to do with the silver axe and gold. It's best to invest while still young not when we're old 😁.
 
Starmix said:
Your grandma is also wise on her own misunderstanding 😁. She has her own decision and what to do with the silver axe and gold. It's best to invest while still young not when we're old 😁.
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That's why my grandma doesn't want to invest but only keeps gold, especially for her own needs or just for fun. But I learned a very valuable lesson, about discipline and not panicking in investing.
 
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Yes that's true, and also focusing on how to manage as well, would definitely help you generate wealth.
 
Suba said:
That's why my grandma doesn't want to invest but only keeps gold, especially for her own needs or just for fun. But I learned a very valuable lesson, about discipline and not panicking in investing.
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Why is she keeping the gold, for her eyes only? She better try to invest them.What a waste of investment right before her eyes.
 
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