Saving up


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How important is it really to save up?
Who and when or how often should we save up?

As the saying goes, "money makes the world go round", its super true. Money is the thing that gets people going. Money is very essential for people to buy their wants and needs and for our lives to continue. Without money, we cant buy food, clothes, pay our bills and even water. Believe it or not even water is being sold right now.

So who and when or how often should we save up?
I give you example of what happened to me here. I won the 1st place for monthly poster contest for month of May and received a prize of 250 thousand sats. That was around 71$ that time if I'm not mistaken. And instead of me withdrawing that money and putting it in a safe place for future use, I decided to give it a try in increasing the balance I had. And because of greed I lost it all instead. In just a day, my only balance turned 8 red zeros. But, said to myself, "it's ok. I can get it back again next month. I just have to do what I did and I can win the monthly poster again." But sadly, I have not won for the month of June and it made me regret the day I gambled the prize I won.
Now, I am slowly trying to save all the balances I have here. Playing only few big bets and hide again once I'm already able to increase my balance even a little. Hiding it on the bank together with my other balances and withdraw them in the future.

So my point here is, always save what you have and never try risking it further. You can gamble a little but do not reach the point where you will risk everything specially if there is no certainty to your winnings today, tomorrow or in the future. Wasting huge amount of money is only for real risktakers and for billionaires. Ones born with a golden or silver spoon. Rich Kids for short. 😂
But if you are person born with a wooden spoon 😂 and only have limited funds in hand, cant even buy your basic needs somtimes, then learn to save up the only balances you have and DO NOT RISK WHAT YOU CANT AFFORD TO LOSE.
Take some rest if you can, stop if you must.

Like what I have read somewhere online about how important it is to save up, it says, "The importance of saving money is simple: It allows you to enjoy greater security in your life. If you have cash set aside for emergencies, you have a fallback should something unexpected happen. And, if you have savings set aside for discretionary expenses, you may be able to take risks or try new things."

So guys let's always remember, It's good to gamble at times but we all must know how to be MORE PRACTICAL.
Have a better MINDSET.
Set priorities first as much as possible and gamble only the extra money left in your pocket. It's enough. Haha
Long story short, savings can always save your damn ass. Actually, it happened to me a long time ago when I started studying stocks and trading. I spent all my money on buying stocks, which was a rude mistake. Still, I was very lucky because I bought a few Zoom stocks. That’s just luck, not knowledge. So, savings are crucial because they give you extra confidence, and you can do whatever you want. The first time I discovered the importance of savings was on Money Under 30. I was reading an article there that made me think of my savings. So, as I’ve said, savings always save your damn ass.