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Saving is essential because you don't know what your income and expenses will be in the future, you can make predictions but you can never be absolutely sure. Extremists must be avoided: oversaving could make you the richest in the cemetery or overspending could make you buy things you don't need.
You need to analyze your current financial situation by answering the following questions:
You must evaluate if it is possible to maximize income and minimize expenses, then decide the part of cash flow to invest. When you are young and the earnings are not high, you should absolutely not think about investing money but investing in yourself that is to get a better paid job.
Furthermore, you have to consider the psychological aspect: what expectations do you have from investments and how could you react depending on the various scenarios that could arise?
The best way is to diversify, having money in different banking products allows you flexibility and security. My main bank account is with a traditional bank, then I have a secondary account with a fintech bank and finally I have a PayPal and Revolut account to handle simple and fast transactions.
I developed a web software to track my finances inspired by Mr RIP's advice and his spreadsheet which I find to be very professional and well structured (the one developed by me is a simplified version, has a single currency and does not have all the functions of Google Finance related to investments, but it satisfies my tracking needs). I'm not a finance expert but I'm very passionate about the topic, below I report my notes regarding some resources that I have seen and which I consider very useful.