DISQUS

Bible Money Matters: Guest Post: Concentrate On Savings

  • Llama Money · 1 year ago
    True, but if Trader Tim managed to up his savings just a little, I'd imagine that his superior returns would have done some pretty amazing things and crushed ol' Saver Bob.

    Focus on saving, sure, but definitely don't ignore investing choices. It rarely takes more time to make some simple choices that almost always turn out for the better.
  • remodelingthislife · 1 year ago
    I agree that just saving is very important. And once that has become a habit, a way of life, then beginning to look into what streams are being used to save and changing those up to get better returns can be focused on. For so many people though, just establishing a saving mindset is the most important thing.
  • Four Pillars · 1 year ago
    Llama - very true. I was just trying to show that the returns from savings are probably easier than the investment returns. Some people (like me) focus too much on insignificant investment details when I should be working on saving money.

    Remodel - I agree that saving has to come first.

    Mike
  • Pinyo · 1 year ago
    That's a very thought provoking example. I will have to do some math on this one.
  • Mrs. Micah · 1 year ago
    While I'm not quite as conservative as Saver Bob, I think it's a good point that we needn't always focus on getting perfect returns. Getting plenty to invest and something that's good enough for our purposes can work out too (in my case, I believe VFINX is more stable than your average fund or stock).
  • Four Pillars · 1 year ago
    Thanks Pinyo - I should note that Saver Bob only has the advantage for a certain amount of time. After about 30 years, the higher rate of return for Trader Tim moves him ahead.

    Mrs. Micah - I agree that VFINX is more stable than most (although still volatile of course).

    Mike
  • Kelli Myers · 1 year ago
    Recently I have started concentrating on my savings and only once i have saved quite a bit i'll think about investing.