Saving with goals or saving for the sake of saving or planning to start?

I save really hard in my younger years as i did not come from a well-off background. Although my parents were able to provide the necessary things for me, i could feel that they had to forgo some lux in their lives for their children's sake. Now that i am working, i save because i want to give my parents a comfortable life and also i have a goal to FIRE!

Save for sake of increasing/growing savings rate.

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Save as much as I can as I not a spender. Dun need % to save as target. U put a % then let say get gd bonus, u gonna spend tat % on wants n needs instead of saving the excess? Haha

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I think it's a nice feeling to be secured. Last time to save 10k maybe will take 2 yrs. Disposable income was $400. Now in theory I can save 10k in 10 mths even without employed income.

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I think there's 2 way at looking at financial independence. 1 is folo the route of fund mgr etf robo. If u keep putting money and hoping waiting to be rich in a few decades and receiving pittance back and paying mgmt fees. How to be motivated?

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But if u invest for passive income. Yea there's talk of high profit by growth stocks, well I can only say patience is a virtue. So passive income will increase overall income and can see savings rate growing. I think tats a great motivation.

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When I was saving for my rainy day funds and emergency funds, I saved quite aimlessly because my focus was on attaining peace of mind. Maybe I didn’t want to stress myself out by having saving targets hovering at the back of my mind.

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But then, I started to read books like “Your Money or Your Life” and “You Need A Budget”. They pivoted my attitude towards saving. The first book taught me to be conscious about how money was flowing in and out of my life, thus activating my radar to keep track of every dollar and cent. The second book taught me to assign a purpose to every dollar so that our money works hard to yield our desired outcomes. So I started to save with a goal in mind.

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Recently, I learnt about Pearson’s Law, the principle that says, “Whrn performance is measured, performance improves.” Now I am not so sure about whether my savings has really improved in terms of actual dollars and cents. I’m just not the kind of person who has the stamina to monitor every expense. But I can say that having savings goals has helped me become more motivated to smash them.

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To illustrate this, one of my saving goals is to make Voluntary Housing Refunds just based on my earnings derived from the crypto space. It stands at about $250k so far but I am not intimidated by this gargantuan sum because I feel that if I set myself a manageable goal, then what’s the point? Setting an audacious goal help boosts my tenacity, I reckon. Because of that, I am always on the lookout for easy crypto-earning opportunities like Learn and Earn programs, faucets, blogging to earn crypto, etc. Yesterday, I even started on this airdrop campaign to get hold of some Shibu Inu!

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So far, I have contributed about $65 toward Voluntary Housing Refund. I know that it’s a tiny drop in the ocean but there’s something exhilarating about earning free crypto out of nothing/minimal effort and converting it to fiat to address real-life financial struggles.

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I swaggered my way into the 40s this year.

I started by saving a sum of money to set aside as my emergency fund(rainy day funds) . Afterwards as my commitment grew, I started to forecast for sinking funds which helps to pay for big ticket items as I do not need to fork out a huge sum at one go. I do also set a yearly goal for eg. 2021 saving goals for a specific amount I want to save, but I dont have a plan on where to use the money yet, just building my savings. 21 YO working adult, just stepped into the working world here :)