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Make money n save money Or save money and Make money

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Make money n save money Or save money and Make money

Post by crackhead on Sat Oct 06, 2007 7:38 am

Few years back i heard a saying Make Money (big) and save money instead of Save Money (small) and Make Money
what is best according to you positive guys out there what u think when it comes to practical conditions.
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Post by developing_success on Sat Oct 06, 2007 11:18 am

It's a bit relative, the big ideea is to have money. First you gotta make money, then save some money, and reinvest most of it to make more money. Here is what i think:
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Post by crackhead on Thu Oct 11, 2007 2:33 am

kwel nw i got it .. idea is let ur money make some more money and that savings on that money u can spend it
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Post by LeftBehind on Mon Oct 22, 2007 3:12 am

developing_success is right imo.
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Re: Make money n save money Or save money and Make money

Post by ebooktsar on Mon Jan 21, 2008 10:19 pm

It's another good question, that's what I love about this place...there is no right,there is no wrong, just answers.

I think that the intention is everything. In other words, if you are going to save, be the best saver you can be, if you are more comfortable investing then the same applies.

Having said this there are a couple of distinct trains of thought:

    One is that we should live below our means, save money for hard times and save the rest into high interest accounts- the automatic millionaire is an example of this train of thought;
    Another is that we should not live 'small' but should experience life to its fullest, by partaking in the good things in life. This school of thought would advocate thinking big - Trump is an example of this thinking;
    The happy medium might be found in Kiyosaki's books where he advocates the three E's: Excess cash, Education, Experience.

In order to gain the Excess Cash one must increase one's financial Experience and Education and reinvest the cash gained into vehicles that will offer passive income. He satisfies those who want the toys which he refers to as 'Doodads' by letting the passive income investments buy the cars, boats and holidays that would normally drain your paid income.

Hope this makes sense, happy to help if it doesn't... :wink:
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