Economic problem, why is fiat difficult to hold. - page 7.

Ultegra134

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Quote from: famososMuertos on June 24, 2023, 07:11:29 AM

You have made it personal, your context, then is surely you fault, bad habits, etc. Or that your saving capacity is zero, you don't generate so much money so that according to your expenses you can afford to save.

On the other hand, we live in times in which we abide by the advice of third parties, so taking "truths" as saying that it is the fault of our current consumer society is just justifying our bad financial reality, which depends on your common sense. and responsibility. It's simple, use the financial benefits correctly and give your Fiat a better sense of use.

It sounds like a budgeting issue; either the OP has a lot of money and doesn't care about proper management of funds, or the exact opposite. Cash is difficult to keep track of, which is the main reason I've stopped using it, along with safety reasons. Moreover, I find it inconvenient to use, as I don't like the idea of having to withdraw money every once in a while. Thus, I resort to paying with my debit or credit card every time, with which I can easily keep track of how much I spend and create a budget.

Some claim that cash is king, but I disagree; it's not convenient for our day and age anymore. While card payments also have disadvantages because governments have started tracking our expenses, something that I absolutely hate, they are a necessity.

Altryist

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Quote from: famososMuertos on June 24, 2023, 07:11:29 AM

You have made it personal, your context, then is surely you fault, bad habits, etc. Or that your saving capacity is zero, you don't generate so much money so that according to your expenses you can afford to save.

On the other hand, we live in times in which we abide by the advice of third parties, so taking "truths" as saying that it is the fault of our current consumer society is just justifying our bad financial reality, which depends on your common sense. and responsibility. It's simple, use the financial benefits correctly and give your Fiat a better sense of use.

We live in a consumer society, that's true. Am I ready to say that society itself is to blame for this, probably not, but society allowed this and this is not very good. Whoever is willing to hold fiat will fail because it's a losing strategy these days, inflation is too high, and the printing press will continue to solve government problems. For them, this is a magic wand that can solve all problems, and for those who keep fiat, this is the worst decision that could be made. They work hard all their lives to save something, but in the end it will all be in vain, because government policies have stripped them of everything.

jaberwock

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Quote from: Kakmakr on June 23, 2023, 09:22:55 AM

The thing is.... people are bombarded with advertising to buy goods and to pay for services... every day. You watch television and they show advertisements of fast food franchises and people quickly hop onto their phones and order food through a App.

Credit cards and Debit cards were created to remove people from physically touching and seeing the Fiat money that they are spending. (You do not see the money going out of your physical wallet, so you spend it without thinking about it) Roll Eyes

In this day and age, we need to be aware of this fact, and when you know this, it should be hard to get it as well. I understand that it is not going to be simple to keep it going without buying anything, but if you know that they are doing it just to sell some stuff, then you shouldn't be falling for the trap neither.

I mean if you fall for that trap even while knowing that it is a trap, then what's the point of having anything that would be profitable for you at all. I think it is a lot better to just focus on what you could do personally, and if you know what you are going to do then you are going to be able to actually make a change. That is why it's much smarter to make a profit from not caving into what the society shows you as the right thing to purchase and focus on your own needs.

Madu$11

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When I am with my friends they want to waste my money. If I have an ATM, I don't keep an ATM because I want to waste money from that bank. Because of this my close friends call me miser but I am not miser. By saving this money I will invest in BTC because when my money is in cryptocurrency I can buy small things with this money. If you really want to stop wasting money then do like me.

FrozenBit

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Financial management is a process, requiring monitoring and initiative. You can learn more about smart financial management to keep your money more stable and achieve your financial goals. This problem not only happens to you, but also happens to many other people. One major reason is that fiat money has no item value behind it. It is created from the trust of users and governments, and therefore its value can decrease over time. In addition, feeling demanding to use your money can be due to some bad consumption habits, it can also be due to incurred costs and improper financial management.
Avoiding carrying cash and replacing it with an ATM card or using online banking can make it easier to manage your finances and reduce unnecessary spending. If you decide to use these facilities, you should ensure that you can manage your bank accounts and use your ATM cards smartly and responsibly, avoiding wasteful spending.

woez

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Quote from: famososMuertos on June 24, 2023, 07:11:29 AM

You have made it personal, your context, then is surely you fault, bad habits, etc. Or that your saving capacity is zero, you don't generate so much money so that according to your expenses you can afford to save.

On the other hand, we live in times in which we abide by the advice of third parties, so taking "truths" as saying that it is the fault of our current consumer society is just justifying our bad financial reality, which depends on your common sense. and responsibility. It's simple, use the financial benefits correctly and give your Fiat a better sense of use.

The so-called needs certainly exist, but it's true as you say "It's simple, use the financial benefits properly and give your Fiat a better sense of use" and I think one of the ways with which expense boxes are important and urgent. If we remember we are safe. but the story is different if we follow the lifestyle, it's enough that it's not enough.

famososMuertos

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You have made it personal, your context, then is surely you fault, bad habits, etc. Or that your saving capacity is zero, you don't generate so much money so that according to your expenses you can afford to save.

On the other hand, we live in times in which we abide by the advice of third parties, so taking "truths" as saying that it is the fault of our current consumer society is just justifying our bad financial reality, which depends on your common sense. and responsibility. It's simple, use the financial benefits correctly and give your Fiat a better sense of use.

Lida93

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Quote from: Stepstowealth on June 22, 2023, 10:08:47 AM

? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?

Clearly you hmare irresponsible with money staying in your hand for long therefore the spending problem is coming from you on the grounds that you lack financial discipline and with no budget plan on how you intend to spend your cash against the coming days, week or month, so it got nothing to do with what or how the society is.

Learn to be economical with your spending habit by making sure you spend money on vital needs especially household needs and suspend any unnecessary or unplanned expenses, do so as a habit and see money staying longer in your hands.

Uruhara

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Quote from: ?? on ??

Talking about money is never ending. There are just needs that come to coincide when what we have tried reaps from the work. Saving work-produced funds, for example, salary either in the bank or at home depends on each individual, for sure it will be taken and used again.

As for the statement whether to contribute, if you look at it it really contributes to the market and business people, it means that our money is born from the circulation of trade and money. try to see the velocity of money in the market during payday moments and holidays, for example at the beginning of the month and holidays.

well, the velocity of money on holidays and payday is much faster and much higher. at that time people used money for pleasure and self-indulgence. And that's normal. but if excessive in spending money then that is what should be avoided.

Unexpected needs are usually what always make it difficult for someone to save. Sometimes money that has been budgeted for savings will end up being spent or used for these unexpected needs. so there are indeed some conditions that make it difficult for someone to hold a fiat in their hands. Apart from the temptation to shop, sometimes unexpected needs are also another cause.

adzino

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By hold if you mean why can't we "hold" it like bitcoin, it is because of inflation. The value of fiat money depreciates overtime. If you keeping holding your fiat money, after few years, your money will worth less. You would be spending more money to buy the same amount of stuffs that you could have bought few months ago. Hence, it is difficult to hold fiat currency. Better to invest it somewhere to beat the inflation. But by holding I am guessing you mean keep it with you and "not" spend it. Like how people hold bitcoin. More like be avoid yourself from making unnecessary spending. Well, that is totally a different thing and its a "personal" thing. Depends more on your spending habit. You need to change that to hold your fiat.

Swordsoffreedom

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Quote from: Jawhead999 on June 23, 2023, 10:24:35 AM

Why you blame yourself if you're the one who want to spend it and you happy when you buy it? remember, you only live once Roll Eyes

I'm not entirely disagree with those kind of people because they used to live paycheck to paycheck, as long as they not borrow money for unnecessary thing and they not leave anything bad to their friends or family, it's completely fine.

Not all people want to be rich and not all people can become rich.

Extravagant spending is not recommended because we don't know what will happen in the future, so it is also necessary to have provisions for emergencies. But not so that we save too much to harm ourselves, don't forget that we try to work and earn a lot of money to have a better life. So no bad feelings or regrets about spending for yourself, I like your point. As long as we don't bother anyone and the spending is within our financial means, we should spend on our needs. Don't be too frugal with yourself because we only live once.

lixer

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Quote from: Stepstowealth on June 22, 2023, 10:08:47 AM

Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?

Does that have anything to do with increasing inflation in the world? I though about that for a second, and it probably seems to have at least some influence over the issue of money being spent more than usual, we remember when we used to be kids, a little used to be a lot for us, the reason for that was definitely because there was no high inflation and quality things were available at cheap rates which isn't the case anymore.

You can't buy something that has a good quality with a reasonable price these days, you will either need to compromise or quality or spend more money than you want to only to get products that have good quality, that is how the world has become due to inflation.

Sarah Azhari

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Quote from: Stepstowealth on June 22, 2023, 10:08:47 AM

many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution?

In my opinion, maybe it will be a solution for the long term if he can be an economical person. nowadays is hard to do not to spend your money, because in out there you can find an interesting thing which you don't need that, but you have to buy it. For example, on social media like tik tok, when you are resting and scrolling tik tok, you can find ads that interest you to click on the yellow basket, even that things you don't need it, but you are like hypnotized to spend your cash to buy it.

Maybe this is economic growth for the country, but if income is not suitable with output, will make them bankrupt because it's too consumptive.

alastantiger

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Quote from: Stepstowealth on June 22, 2023, 10:08:47 AM

Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?

Don't you get it already? The plan is to take away money you have so that you keep working and working for the rest of your life to accumulate more to spend and purchase things that you feel will make your life better or make you happy when in fact happiness is not found in things or in objects. Idealistically, we do not own any more, any money we have is some else' just waiting for it to be spent either compulsively like we have in the world today or based on a budget which is the more difficult thing to do.

bestcoins1

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Quote from: judaspriest on June 23, 2023, 09:00:06 AM

Expenses that are not too important need to be limited gradually because that is what is more feasible,
better switch to saving and that's better to prepare for the future,
they should be able to sort it out on their own.

Under any circumstances, everyone should be able to save money and limit non-essential expenses if they still want to live a more secure life without being troubled by the difficulties that can always come to everyone who still seems wasteful in their own lives. I think there's nothing wrong if that kind of choice is for the good of ourselves because limiting expenses in order to be able to save are the characteristics of successful people who have the target to grow in any situation.

Fortify

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Quote from: Stepstowealth on June 22, 2023, 10:08:47 AM

Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?

I used to be just like this when I was younger and it's basically being reckless with money. It's fine as long as you steadily expand your financial knowledge as you go through life, to the point where you will find it attractive to make investments that you won't touch. It's easy to burn through money and that is what most people are comfortable with doing, however the really smart ones start putting their money to work and have it earn more money - they are playing the long game. There is the dilemma though, that costs are rising all around us but in many cases our income stays fairly static. This can be problematic when it reaches the point where your core & basic expenses exceed your inbound money, that's much harder to change.

Kelvinid

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when lambo...

Quote from: Stepstowealth on June 22, 2023, 10:08:47 AM

Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, ...

Money is created to spend, not to keep. If that money is in your hands now, it is certainly be gone after a few hours because it was designed to be like that. In fact, if you would imagine if all people are holding their money, how they would survive without spending? We hold money and save it but it doesn't mean that we don't have to spend it anymore. In fact, rich people don't hold money, they use it to multiply and make more money, that is exactly how it works.

Uruhara

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Quote from: so98nn on June 23, 2023, 02:42:54 PM

Invest is the key for this. It’s not just you but many of us find it very difficult to manage the money. In the westerns all the kids are taught about money management lessons since school time. Now there are also some areas which are still away from this. And no question about the easterns because there is no such concept. However in both spheres one thing is common, money always run out of the hands. Lolz. The only way we can do this is by investing money into physical or digital assets. If you want stronger hold then just go for the physical assets. They are hard to sell quickly. For example, real estate. One of the booming business and high appreciation all the time. It can make you good portfolio as well as achieve your savings goal as well.

Investment can indeed be a solution for those who are able to set aside money to channel it into the desired investment. But the problem is that the people who even have trouble holding fiat are the ones who sometimes have a hard time keeping money in their hands. So they find it difficult to save and invest. Inflation and the minimum amount of income are also important things to watch out for. so the solution may be to first increase your income and start investing.

so98nn

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Invest is the key for this. It’s not just you but many of us find it very difficult to manage the money. In the westerns all the kids are taught about money management lessons since school time. Now there are also some areas which are still away from this. And no question about the easterns because there is no such concept. However in both spheres one thing is common, money always run out of the hands. Lolz. The only way we can do this is by investing money into physical or digital assets. If you want stronger hold then just go for the physical assets. They are hard to sell quickly. For example, real estate. One of the booming business and high appreciation all the time. It can make you good portfolio as well as achieve your savings goal as well.

Uruhara

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Quote from: BitcoinTurk on June 23, 2023, 01:49:49 PM

In the last two years inflation has occurred in many countries due to economic conditions and an increase in our expenses has been observed due to this inflation. However, this increase has not been reflected in the salaries of citizens in many countries and therefore it has become very difficult to save money. On the other hand, when I controlled my own expenses especially in the last few months I observed a significant increase in expenses. In other words, it's almost like breathing has become a spend of money. Unfortunately, when the situation is like this we have to make extra expenses by going out of the plan and spending schedule and as a result we go out of our planned target. To make a comparison with myself, it would be possible to state that this situation mentioned by the OP is not unique to him/her and that many people now have to live in this way.

the same condition may also be experienced by others. because basically inflation which makes the prices of basic necessities soar high will of course also force everyone to spend or use more money to meet their daily needs. So that some people find it difficult to stay thrifty. and they become more wasteful because they are pushed by the soaring prices of necessities. Prolonged inflation will also make people's economic power decrease which will trigger a recession which is also currently being experienced by several countries.

Topic: Economic problem, why is fiat difficult to hold. - page 7. (Read 1242 times)