Topic: Getting things off your list. (Read 591 times)

When it comes to such a list, what should be considered more is our needs and not our wants. We should know the things that are needed, and the things that we just want. Those wants are some unnecessary stuffs that you don’t really need, and they might just be causing unnecessary expenses which will result to lack of funds when you really need it. Actually I’m not the type that think of things a lot, and when I have a want for something, I really don’t think too much about it and I don’t make plans at all for it, and by doing so sometimes I do forget all those unnecessary wants, and only put more focus on what I really need. Unless that happens to become something necessary at some point, then I might decide to go for it and that is if I have enough for it.

But, if you can live without it, there is really no need to break the bank to an extent that you will be uncomfortable. I see some people who are living off a monthly salary, but before their salary would arrive, they have already planned on how to spend on unnecessary things, which is quite bad.

There is a saying that desire is the source of suffering. actually humans can live happily with what they can produce, but it is worldly desires that make them think hard in order to fulfill them, so that many of the people around us have a lot of debt because of their lifestyle adjustments.

Maybe this is more in the realm of financial management and needs.
Usually we will divide the needs into several stages.
Among them are:
- Important and urgent needs
- Important but not urgent needs
- Need Now
- Future needs
And each list of these needs for each person will be different.
For example, I currently do not have a car and a house.
However, due to circumstances because I will soon have children, I will choose to buy a car first. especially if I still have time to occupy my rental house for the next year.
And to buy a car, I also need to consider the need for money.
And it's true, if we have the money, it's easy for us to buy it right away. But the problem is that not everyone can buy or fulfill these needs as soon as possible, especially considering that the money is not enough. So choose to save for a while while collecting money again with any business including trading, investing, and so on.

Matter of fact, it is in fact beyond price hike. I mean if you actually plan on using profit from your crypto investment, is better you get it done once and for all and have it cleared from your list basically because you never know how of what the market will react tomorrow.

The problem with satisfying your wants is that technically wants are infinite, when it comes to our needs human need very little, just some food, water, a place to sleep and most of that can come relatively cheap.

But when we add wants to the equation there is not shortage of impossible or almost impossible wants to fulfill, wants are what get people in financial trouble as people desire more than what they can afford and decide to buy what they want anyway, causing themselves financial strain to the point they cannot pay their debts anymore losing the assets they bought and the money they used to buy it.

I think the problem is getting what you want is not that complicated for some but definitely difficult for many especially to those who consider lot of things. Factors like family, job, socio economic status very much affects such decisions. Prioritization takes place and other times its harder to fill the gaps when you do not have enough to provide everything. What I admire is that people try to strive harder to reward themselves with a bit of pampering or a simple gift. But I do agree that investments are important.

That's what I do. When I want to buy something and I have enough budget, it won't take long and I'll buy that for my family. I rarely buy things for myself and that's what I'm doing to give comfort to my loved ones. I don't want to tell my next plan so that there won't be any hindrance soon. Because there's this experience of mine whenever I get excited about my plan and tells it to somebody, there's a sudden obstacle that happens which delays my plan.

there is a story from an acquaintance of mine who is wise in investing, so for necessities whose value is shrinking such as cars, phones, and others, he chooses to buy secondhand
so it prioritizes money to invest and it opens our minds to be rich not to look rich

and this what is said to be wasteful in the future will have an impact on the value of his life which is getting worse

being wise in living life is the most difficult thing because unlimited desires make people not think too long so they buy something to satisfy a momentary desire that will grow and grow

If you keep purchasing things because you feel you want and can afford them don't you think you'll be draining your finances??

I mean it's okay to purchase things if they're really important and necessary but inadequate management of funds because you feel you need them at the time is a big threat to one's financial health.....
If you're going to purchase things, make sure they're worth it and not just because you feel the want of owning them.

things will cheaper as time goes by, you cant get new version but still get what you need, you getting help from that things.
the problem is people desire always need to fill with something we dont need. you can buy because you dont have any obstacle, have good income every month, and many people cant get what they need because they attach importance to the other thing.

Good idea, to be able to train how to manage our finances well, can start by setting aside some of our income as a reserve fund. When we suddenly
have an urgent need, we can use the reserve fund, and don't need to go into debt. It is not easy, because often when the reserve funds we collect
are more and more, usually we will be tempted to spend it on things that are not really important. So it is not enough just to train to manage finances,
but we do need to have a strong will from ourselves. That way we can commit ourselves to only using the spare money we collect for urgent matters.
We must be able to start managing our finances as soon as possible, before it is too late and we become in debt.

That is called lifestyle inflation and it s very common, if someone gets a significant raise then instead of saving or investing most of it they begin to spend more money as things that previously were thought to be some kind of luxury now are perceived by those people as having become needs.

It is important to watch for this as many people that would have otherwise retired early on their lives have to keep working until their last breath as they cannot control their spending at all, still this does not mean that you should not increase your living standards if you have more money, you just need to avoid to spend it all and also plan for the future by saving and investing.

My parents are like this, they do have a great income thanks to their smart retirement investments, and even own their own home but they have a huge debt as well and they are spending more than what they have. Not because they want to and they like to, I mean they have some medical bills that they need to pay which makes it hard for them to live but I am sure they could drop their cost of living if they lived a bit smaller.

I am sort of on the same ship as well, I can't say that I am doing amazingly well neither, I have a great income, I am making good amount of money with my work, but at the end of the month no matter how much money I made, I always end up not having too much to spare. I mean I always put up some bitcoin on the first of every month as soon as possible and consider that as a cost, but aside from that even when my income doubled, I managed to still spend it all.

That is why having a reserve for our funds will be necessary because everyone will have an urgent thing that can come anytime. We do not know when, but it will come right away and if we do not set it from now on, I am afraid that can disturb our plan and use the money that we use daily. Our needs will grow following with the cash flow of our money so it needs more management to manage the funds. If we can manage our money step by step, I am sure that we will pass every problem that we will get from time to time and have a chance to grow our money.

Aside from making some cash, management is one important factor to its preservation. One who lacks management qualities is likely not going to get rich or wealthy for too long. In your bid to satisfy every pressing need or want you could loose a major part of your portfolio. It is said that, your needs grows with you and your achievements hence, there are needs that coincides with your status to keep you in line. Aside from that, the world is everyone for himself and everyone wanting to get what you've got so, securing the means to your satisfaction of what's and needs becomes of real concern.

The main problem for people who already have a steady income is how they can manage their finances properly. But they can not do that because they think that their expenses still come to them even if they already manage it for every month. Maybe we really need to spend some money on our backup funds just in case, we have an urgent situation that needs money. But we must not use that money for other expenses because that will be a reserve for our finances.

Managing our finances is not easy but we need to practice because we will have more expenses in the future so if we can practice from now on, it will not be difficult when we see the change in our lives.

Desire will never end because basically we are sometimes not satisfied with what we already have,
so buy something that really becomes a priority or according to what we need not according to what we want,
indeed things like this are sometimes difficult to control and we need to be wise in making decisions

everyone has a desire and what they want will change according to the amount of money they hold. if it is enough then buy it before the desire changes but we also have to be wise with that

One thing that I'd like to add is that if it's a want, you really don't have to go real fast achieving that goal because no matter how you look at it, it will always end up with you having to not really benefit from it in the long run, best thing to do would be be to reserve the wants for later. Being content with what you have is already a good thing in my opinion since you won't be chasing the bag harshly which we all know isn't really a good thing to do ever.

Many people who already have a steady income but often experience financial problems, it's definitely because they don't manage their
finances well. So no matter how big our income is, we will always experience financial problems if we don't make good financial planning.
I even found some people whose expenses are greater than their income, then finally the person is stressed and has a lot of debt. So make
sure we manage our finances well, so that we can prioritize buying the things we need and can avoid financial problems. Because if we
experience financial problems it will usually cause other problems and if that happens it will destroy our lives.

Why not invest before buying those things? I think its better to pay rent for houses and invest your money first before buying your own house. Be okay with electric fan rather than air-conditioned unit and invest it first. Ripe your investments first then reinvest until you have the financial freedom. With the right strategy, you can attain these gains and buy all those things you want.

All those things can only be achieved with a strong strategies that will back it up for it come to reality, yes the more you leave things to do the more things is getting expensive, but at least you have to ensure that you have put your money for for a place that it will yield something ease, saving fiat or dumping a currency such as fiat for project without engaged it investment first that will provide like time's two the capital is not encouraging from my perspective, i can say people have different perspective of service via money saving.

If it's necessary and badly needed then I guess it's better to buy it right away without hesitations as long as we could afford it but if there are better and more important things that we should buy first then we should let our wants wait. Saving for it would be the best thing that we can do. Buying our needs more than our wants is still a wise decision.

So we agree that we need to buy the items we need because that is what we use daily and after that, we use the other to buy the other items we want or save the money to prepare for the other things we want to buy. The thing in the list can change or modify based on the current situation so we need to have urgent money to prepare just in case we need the money. I am sure if we can manage our funds properly, we will not have a problem while we can also save some money for our future.

Yes, it is. Focusing on one thing will be recommended rather than focusing on some things that can confuse us to manage. Besides that, that can make our expenses bigger than we expect and that can be over budget.

Example if you are planning a Business and you are confident and knowledgeable  about that area then do it instantly , make it a priority and never engage to other thing first because if that business grows high then everything in your front is possible to purchase.
i believe in one thing at a time than multiple tasking without a proper focus.

In a pandemic situation like now where finding work is difficult, we have to really buy the things we really need. And make it a habit to buy goods
in cash without credit, because if we buy goods on credit, it means we have not been able to buy these goods and will only burden our expenses.
I agree that we really have to have a good plan on how to manage our money's income and expenditure. By making a list of what items we will buy,
then sorting by priority, will help us in managing spending money. Because our money is limited, so we have to manage it well, so we can leave
a little of our income for investment. Suggestions to buy first the items we need, after that we can buy one by one the items we want. Because
it is very important for us to be able to distinguish between needs and wants. The items we need are usually urgent and the items we want don't
matter if we delay buying them.

That is why we must have a plan, make a list of what we want to do, and try to get it to step by step. If we can save some money to fill the needs, I think it will help us get what we want. Maybe we can start with the primary things we really need and then move to the secondary things to fill. It will not be a problem if that thing becomes expensive after some time but I am sure we will have another option to select the other things with the same specification. We should adapt to the current situation and manage our money to be useful for our lives.

It really depends on the type of your needs, and ofcourse it is subjected for availability especially if it's newly released product.
I know, you do have a point about your post that delaying certain needs are bound to much expensive prices. But a delay is also good, take for example if you want or need something about your home equipments or furniture, you need to really weigh it if you really need it or it's just for your comfort or else you'd be buying out of rush even if you can live without it.
And about cars, there's no need to rush about that certain new model because you already knew it's quite expensive, a delay in those things means much because you can save much if you buy it sometime later.

Correct, besides there are so many nuances to it that giving general advice about how to buy things like that quickly seems impossible, a house is probably the most difficult item you can buy not only because it is very expensive but also because once you buy it you are tied to that location for a long time.

In the case of any other item you can quickly get rid of them or easily move locations if needed, this is not possible with a house, so if you pick the wrong location because you were in a hurry you will have to live there for a long time before you can sell the house or solve whatever issues you have with the location of the house, so when it comes to buying items with a very high price it is fine to take our time and if that means taking months or even years to take the decision so be it.

Very often, we are driven not by reasoned consumption, but by spontaneous desires or under the influence of external influence (advertising, "oh and she says that she bought herself this", "I also need it, I'm cool too," etc.). Oh yes, and also the desire to show oneself a "step higher", to create the appearance of wealth and prosperity
The first can be attributed to painful / obsessive states of uncontrolled consumption, the second to mental problems (complexes). How to deal with this? From a personal example - once in my youth, my wife and I constantly bought things for themselves. We rode around the world - bought, went to a nearby Shopping Center - bought things, saw online sales - bought things. Because we liked them, we could buy, we bought. Then it turned out that in the closet about 50% of the things that were not worn, and will not be worn. We did good and donated it to charities.
At some point, the thought came to me that it turns out that some of my earnings, and my wife, simply go nowhere. So I work, I strain - and this flies away to nowhere. I felt hurt. The conclusion was simple - either start to work less and earn to limit the budget, or ... I did not like the option to earn less The solution was simple - we agreed with my wife, if I liked the thing and just "itching" to buy - then we go to the "cut" and the "adapted" theory of Sakichi Toyoda's "five why". It is called "3 Why". If after 3 answers to yourself you still have a reasoned position why to buy - well, ok, buy. And if not, this amount was transferred to our general dedicated savings card. After a year of experimenting, we had a moderately full closet, and more than enough money to spend a few weeks at a fancy resort, without too much limitation! As a result, it turned out that you can reasonably buy, not throw away unnecessary or not litter the space around you, while forming a kind of financial cushion that used to turn into air!

PS Yes, but this does not mean limiting yourself in everything, saving all income and living on one bread and water! This is another road to nowhere. Often, such people do not have time to use their savings, as they do not have time to live efficiently and fully.

I always force myself to be living like a poor person because I am not wealthy and I still want to put money aside. I mean even when there is a big problem and I should not invest into anything, I still force myself to invest. Why? Because, I do have enough funds aside for "just in case" days, and yes I create debt, and I have problems, hell I would sell my car before I sell my coins, that is literally how much I believe them. This way, I do have debt and not living a rich person's life but I would not be rich anyway, so instead of being maybe below decent at best, I live a poor life but I end up with a rich man's bank account in the future.

If I had bad investment past then I may have focused on something else but I have made nearly 10x profit so far and that's proof enough that I could make a good profit, this is not just one day or two days neither I have been here for 8 years and made so much more profit before this one as well. Hence I believe that I will one day be a rich person thanks to living like a poor one now.

Not just in managing our finances, but be able to prioritize too our needs more than our wants. I think buying a house, a car, or any furnitures can wait, but not our basic needs because without them, we will no longer survive. We can still achieve our desires in the future by starting to save little by little today. At least you can put any amount on it as long as its not needed necessarily. But always prioritize those things that are basic and are needed for daily living.

Indeed. It is very important for us to know how to manage our finances for us to provide the things we needed for our daily living. I, myself don't think even buying my own desire first before buying things that my family needed. If you will think other people especially your family before thinking of the things you want then I guess your learning about it and it was the best decision Indeed.

There are really some instances that even if you have all the means, but knowing it will not be very necessary for you, then you should know how to balance weigh things well. Its not that once you have the funds, you'll eventually buy it before your money disappears. There are other things that we still need to consider like preparing for those unpredictable things that may happen anytime. I think its really basic for those people who are anticipating for the future's unexpected events, but for those who are used to lived thinking only at the present times, they will surely do things without thinking its future consequences.

Some of what you're saying is true - the basic idea that making lists is a useful aid (often preached by very successful people) but some of the things you describe are not necessarily right. "Buying a house" for most people requires saving up a deposit that can take years and even then, take a few months to close the sale. It is not something you should rush and is often the biggest purchase that people ever make in their life - not something to be taken lightly at all. Cars and even electronics can be frivolous items in many cases too, you might not need the super high spec BMW or teched out fridge that you first stumble upon so it's worth doing a good amount of research on these big ticket items or you can regret spending too much a few weeks later. List building should be thought of on a much smaller, day-to-day scale, not for these mega items.

If you dont know on how to balance in between your wants and needs then you would be fucked up in near future on the time that you do realize that you had already some problem with your finances thats why you should really be that wise on handling out your money
so that you wouldnt really experience any hardship or unfortunate events which would cause up on wrecking your life.

That’s true, but sometimes before you take such a step you should calculate between your needs and wants, because some of these things are not your needs, and that’s why you would probably be having a second thought about them. And judging from how much is in your pocket, if you feel that buying any of the things you have on your list would affect your financial stability at the moment, then it is best to leave it for and plan for it later. You can even decide to start locking a bit of money aside for that particular thing and when it is complete, you can then go ahead to pay for it.

I think wait for something like what OP mention is consider as a plan which we can take. I mean we don't need to hurry and cut that things off from our list because we can get cheaper and better. Not means i am not agree with OP, but buying something in hurry although we already have the money to buy it is something that can postpone, we can research more for other factor and can get better quality or any kind like that.

While I would like for our wants and needs to be more easily fulfilled this is not possible, after all as you stated many people have similar goals, this means that everyone is looking for the same, which means the competition for the things that you may want is fierce and if someone is not willing to put the effort necessary to achieve them then they will lose those very same things against someone else that is willing to do so.

This means that you either limit those goals on purpose to make them easier to achieve for you, work harder to get them or accept the possibility you could not reach your goals, something no one wants to think about but which is common as not everyone is able to achieve what they want for their lives.

That's right that because of inflation, prices grow and we can't buy something for the same price we could before. Nevertheless, there are countries with deflation such as Japan, what is more, there can be sales in the future so you will buy it for a lower price. Sometimes there are cases when there is lack of something on the market, prices are high but then some goods are in abundance again and prices decrease.

Having your own house and your own car is definitely a dream every man wishes for. But considering you still have other means that are more important than them, then you should still set aside them so you can attend to your needs rather than fulfilling your wants. I just hope things will be much easier that you can easily want to accomplish your wants or even dreams in life, but knowing the fact that you still lack the finances, then maybe it will open up the reality that its better to suit yourself now on what is available.

Yeah, it's the new trend (it's not actually new, though) because the markets for stocks, crypto, and all sorts of things are soaring at the moment and interest rates are low.  And boy, there's no bank I know of near me where I could earn 2% interest on a savings account.  I think every bank in the US is offering sub-1% interest rates even on CDs and other savings products.

OP has a good point, though if we took it to the extreme it would mean spending any excess cash on non-perishable goods like cat food or things like that, i.e., buy up all the things with a long shelf life before prices go up.  That isn't something I tend to want to do.  I also think buying a house or a car right now might be a bit risky, as the real estate market is kinda hot and the auto market might be as well--but if you need a car, you need one, and I wouldn't argue against buying one.

But what if you need a graphics card?  Wouldn't you want to wait for something like that?  Prices for those are super-inflated, but not because of overall inflation; it's because of demand, which will probably drop over time.  Just thinking aloud.

And this is why so much people are indebted to the point that any small crisis is more than enough to cause financial ruin for them, there is a big difference between needs and wants, and people have trouble distinguishing them, the truth is that compared to our wants our needs are way smaller and can be easily fulfilled.

It is because people confuse wants with needs that causes them to get into financial trouble, by buying a house way bigger than what they can afford or buying a car when public transportation can be more than enough to cover their needs to travel and it is a cheaper option as well, so before making any significant financial move we need to always consider if this is a real need or if this is a want and reduce our expenses accordingly.

Exactly mate, we have our different level of financial capacity which measures even how much some of us wanted to get the thing that they wanted to get sometimes there are something much more important to be prioritize of like necessities. We do also have a famous line of "delaying gratification" which means if the certain thing that you wanted to get or you have in mind wasn't that really important it is better to delay things until there are extra money you have that you can use to get it.

Yes, it could make a person's life easier by investing but what if he/she doesn't know how investing works and gets scammed?. We don't risk what we only have left. It isn't worth a try if you are having a financial problem especially if you're poor. I mean it could be good for you if you know how investing works and stuff.

Either way, Fatunad is right. We can't just simply buy what we have in mind. Even if it is already planned ahead of time, it would still take a long time to achieve what you want by saving especially such things like house and car. Buying immediately the things that have in mind only works for rich people.

In essence, everyone must have a future life plan, just like a house where there are still many disadvantaged people who don't have a home, so they have to save to make it happen. but it would be better if they invest, so it will be more helpful to ease the problem of financing. and to manage it we must have good financial management

Yes, the effects of inflation that badly affected our finances, forces us to cut out luxuries and tighten our belt to keep up with the rising cost of living. So we must be smart on spending and focus only on the needs not on wants or desires, but if it can still fit your budget then why not? However, buying things impulsively can lead to many buying mistakes, chances are you are paying too much for it since you did not take the time to shop around for better deals. There are many things to consider before purchasing something like Does this item have a purpose? Do I really need it? How long will it last? Is there a better option than buying this? Things like these need much time to think about, for example like buying a car, it is not an asset but more of a liability and car has a depreciating value. Why not opt for a public transport you can save up to four times the money you use commuting in your private or personal car. Live a comfortable life not a wasteful one, do not spend to impress others, focus on what you actually needs.

But not all would really be that capable on buying out everything that they do have in mind which means waiting will really be next in line because not all would really be financially capable on doing so.
Yes, you do really need certain things and since we do talk about Car,House and equipments which turns out not to be cheap then this is why people do really need to save up before they
would able to attain and that what makes them took longer which is understandable and we shouldnt really rush them up because we arent always the same
when it comes to finances.

Interesting, I doubt there's anyone that is financially capable of doing something and they wouldn't do it especially when it has to do with the examples you gave instead it's those that aren't financially stable that get encountered with such problem. Understandable the OP is discouraging procrastinating which isn't a wrong thing as those guilty of this act has regretted in the past.

Having to cross things off your list doesn't automatically mean they have to be things far above your financial capability. You could cross grocery shopping off your list and this will help with knowing what to do with the spare funds. People often find it difficult to invest because they are always in need of the cash at hand due to their needs/wants haven't been taken cared of.

The issue here is that there is an opportunity cost for everything we do and this must always be taken into account, for example if I sleep an additional hour each day then that is an hour I cannot use for anything else, the same is true for money, we will have a limited amount of money during our lifetimes and we need to use it as effectively as possible.

So we need to wonder what is the best option now, buy a house or buy bitcoin with that money? To me the best option is to buy bitcoin and delay buying a house for a long as possible, after all if an economic crisis hits the world the price of houses will go down while the price of bitcoin will go up and you will be able to buy the house you want while still retaining some of your bitcoin, so I am not so sure I agree with the strategy you are proposing since you will have to pay the opportunity cost of not getting bitcoin if you buy something like a house now.

In other to archive this, one needs to establish a 'want and need' concept to effectively distinguish that which is most necessary from that which isn't. Ones this is done, holding back becomes less of an option for you. Its not often about the getting it but then, the resources and conditions necessary to satisfy its maintenance. Thinking that through and satisfying the fact that, it could be all handled, its a bright green light. It lifts a lot of thoughts and time of trouble of uour shoulders. Else, you just keep bugging yourself with it everytime and that doesn't solve no problem. Just think it through sharply and get it.

I'm all about setting goals in your life, starting from the smallest daily ones, to major accomplishments in life. However, seeing this as a 23-year-old student, while I get OP's point, it's not really viable for me to obtain a house, nor to look forward to buying one in the near future. My point of view, regarding this matter is setting goals that get you ahead in life, and possibly covering deeper, psychological subjects, such as finding what you're passionate about, or finding your purpose in life.

Making that type of decision is something that people do not really think about too long in most cases because it is something you could be very very wrong and people do not want to know about it. For example, my mother in law bought a house way back in the day, maybe 10+ years ago. She bought a house that doubled in value and that sounds good right?

Well, many houses went 5x or even x10 in my nation and imagine if she bought bitcoin with that money. They would literally be billionaires right now with the same amount of money if they bought bitcoin 10 years ago. So all in all even if they put some type of money into "known" investments, they would still not be able to do anything remotely close to crypto profits hence it is not really a great decision.

Plan before doing anything, it's much better to have additional options instead of rushing things out, there are ways to maximize everything, but if you have that capabilities and you really aiming for it, you can go on just make sure that you have additional or extra funds for any emergency, never to use everything inside your pocket.

Always think that in somehow you will encounter things that are not on your list, or less to your expectations, it's best to keep some allocated funds for this before jumping and pleasing your lust.

Each person has their own mindsets. Just take what you think is good for you and let things happen according to how you see and dream about it.

Everything you said is all good but people still need to put their investment and capital into consideration before making the decision because the items bought now may affect the chance and opportunity to make the needed x10000 profit.

That's the problem with fiat currency but I don't see it as something that should bug my mind cause when the time is right I will definitely have it no matter the price and what's important is buying the items at my convenience time.

The classic inflation thing.
It's true that the price will always increase (based on the historical data), but it doesn't mean it will increase significantly in short time, thus your suggestion to spend money in a rush just because inflation is not correct. Also, there's economic cycle of scarce-abundant period, for example buying computers (PC, laptop, smartphone, GPU) now isn't a good idea because of the abnormal demand + supply shock. So if your old computers are still good, it might be wise to wait until the price goes down.

I really agree with your post, if you really need something at that moment you just have to get it, but you don't have to buy things with all your funds you should be having savings incase if thier is emergency you don't just buy things before buying things you should plan yourself so that you won't endup selling something after buying them incase you need money for emergency purpose but you still have to buy the useful things you need.

I agree, of course. After all, comfort is relative. I don't say that poor families living in small huts, sleeping on the floor, cooking with firewood, and so on are not living a comfortable life. As a matter of fact, I have seen genuine happiness in many of them. But they, too, have dreams.

However, I don't actually disagree with OP. Getting things off your list as soon as possible is better than having it delayed, that is if you have the money and those things on your list are things you actually need. This is what inflation and monetary devaluation is all about. Buy it today because tomorrow things are going to be more expensive.

Even we can take Warren Buffett as an example why the delayed gratification will give more success than buying everything as soon as we can and the real fact is the list is going to be never ending, if we buy a new latest Apple products it will be old by the next year so we have to buy new launched gadgets which is waste of money.

Well for me, invest first before you buy those things that you want. I'm a teenager who's suffering from financial crisis and having a 3rd world country is making it much worse. Reading and watching youtube motivational videos also makes me disagree with you. Lots of my followed financial advisors in YT preferred to invest first before buying things. 50/30/20 rules applies as well. 

To some extent I like what you are saying here, but to another I'm not sure all of this is exactly how people should be approaching things.  Often time waiting to purchase things means you can leave the money you currently have invested to continue to grow and save it for an even more appropriate time to purchase them.  Right now that new TV I want I could easily have but do I really want to see some of my stocks or bitcoin in order to purchase that, especially when I believe they are in a strong accumulation phase? Not so sure.

What the op's suggesting only works for wealthy people who have the money to buy stuff but just stall for some reason. Also, I'm not sure that I fully agree with this. For instance, buying a house is a bigger and more important decision than buying a mixer, so perhaps not rushing with the house and not overspending on a mixer when you need more money for the house makes sense. I'm against cars, but I'm sure the same goes for it: people aren't usually willing to buy a random car; they want it to feel right and to cost reasonably (in my country, there's a problem with cars being more expensive than in the EU, for instance, because of high taxation rates). It's important to have a list, and to get things off when possible, but some big decisions like the kind of house you buy require more thought than the kind of cooking utensil you buy.

I felt emotional after reading your post, life is hard specially in poor countries and now when the  pandemic hit makes life far worse for the poor. Economic crisis, job loss and unemployment stress many families are struggling to put food on the table how much more on buying a house and car?. Though life is tough, but it is not a hindrance to live a comfortable life. The best things in life are free, they come in the form of good health, family, love, friendship, simple pleasures, we should focus on improving the quality of our life not on just acquiring material wealth.  

Well if you have one house then u will need another house, if you have a car mostly u want to have another car the more expensive one. It's not about how fast we take out our what we need from our list but we need to think it thoroughly like do we really need that car? Mostly our mind just thinking what we like not what we need also we need to be grateful for what we already have 

Prices of houses decreases as they are being used but the price of land increases.
Cars? they're depreciating because a new model are launching anytime. Its just like smartphones that depreciates its price as a new model is released so its the same as cars.
Home equipment? Same as cars. As they are being used, the price of it decreases.

In general, I don't think that this is true. Prices increases yes because of inflation that makes the buying power of money goes down therefore, prices of everything increases from foods to cars to equipment. As for me, I'd rather invest my money than buying something like land or car. Delayed gratification is what I like to do .

I think what he meant is real simple buy the things which you need, wait for your turn to buy those things which are way expensive for ya at this time. I think it’s okay to be like this if we are on medium scale wagers and has a family to look after. I have observed my parents who are chief wage earners would always go after the dreams of rest of family rather than theirs. Their priority is always grocery and food, important stuff required to run the house like fuel, different bills, etc. I think that’s what it is, you don’t overspend on unwanted things.

That is not a bad strategy, however, for things like buying a house, that really isn't a viable solution. Not a lot of people have the funds to buy a house quickly and lay need to save up for years to do so. I know it depends on your country of origin, but thi is more or less universal. Sure, it can be done if you have the money ready, but that's a diferent topic.

Having those kind of plans like you want is such a great things. But, I think it's not that simple to do such things quickly. I also wish to buy even a simple things for my family such as house or any thing that can make them happy but, it's not that simple, you must need to double your hardwork for you to grant all of that wishes. Of course I want to buy anything I want because it serves us my self reward. If really I can afford it then why not. If you can afford it and it is necessary, then why not buy anything you've planned. I know it will make you happy.

I like your approach to do things more quickly, it's a good way to life in the moment and to not procrastinate. This is a problem I have myself where I keep postponing things until the last minute. Being more proactive when it comes to small things is good, but when it comes to larger purchases I am not sure. Buying a house or a apartment is a very serious investment, we do such kind of purchases maybe once or twice in life. Rushing such a decision can be problematic because we will locked into it for many years. Loans for buying an apartment usually run for 10 years, so if we rush into a bad loan we might not be able to get out of it. Same goes for the actual place we buy, we need to be sure it's not a lemon we are buying. For example how is the wiring in the apartment, maybe it's not modern enough and we need to renovate in a few years. Same goes for the roof or basement, when it comes to such important decision we should really think it over.

This reply is very similar to what I am thinking. There is far too much "want" in
the world today which leads to over consuming which is killing this planet.
Delayed gratification for things we want usually results in us realising we
dont actually need them.

Delayed gratification is beneficial especially if we factor in Bitcoin, for example
if you NEED something today but can delay its purchase until December you
wont have to use as much Bitcoin then even though the items price may have
gone up.

I thought this thread was going to be about something elae particularly after
the OP's opening line "strike things off your need/want list and be content"

I thought it was going to be about not buying that new latest watch, phone,
car, clothes etc. but keep your funds for more essential stuff.

I kinda agree with your point.Things become more expensive day after day,so it's a good decision to buy them today(if you have enough money to buy them).I'm not a fan of consumer debt and getting loans to buy stuff you don't need.
However,houses,cars and furniture are liabilities,not assets(except some houses/apartments,it depends of the location).
A liability can increase your expenses,while an asset can bring you new income.You should focus on gathering more assets,rather than wasting your money on more liabilities.
I don't agree that you have to make fast buying decisions,when it comes to buying a house,a car or furniture.
You might regret for decisions that you have made,especially without enough thinking and analysis.

Personally, I don't advise you to save, especially in paper money, because it loses its value over time, so when you want to get used, you'll find out that a large part of your asset value has turned zero because of hyperinflation, and also the expropriation of assets like gold and others doesn't yield a good return, especially if you decide to save.

Almost the same is happening on third world countries. In my country if we have the plan to buy/construct a home , it is possible on the rural regions. Because of the property value, construction cost. In City region the expense for the same will be atleast five times the cost.

If our parents have saved in terms of cryptocurrency, now we might've bought a mansion and had a luxury car.

There is no need hesitating when the funds are available but in cases where what you plan to buy is beyond your budget settling for lesser products wouldn't be an advice. Saving more so as to meet the taste of your wants can come in handy. This will protect against buying what you would end up not getting satisfied about.

You are wrong and completely wrong, have you heard of delayed gratification?

You might have need and want list but both are not same, more you delay the want list then more chances to become less and lesser.

And when you have atleast 10 times more cash than the cost of your wanted product in your bank account then just go for buying it.

Well, I'd reckon it's also something that would help you get it off of your mind, though honestly before considering the price, I'd really consider trying to identify whether that stuff are needed or not though, like create a priority list or something similar. Though it is still advantageous if you're able to tick off some stuff that you really want off your list in the long run. There's still some risks involved but as long as it's properly planned out I don't think there's anything wrong with that.


Well, I'd reckon the list was already made with each one having their own priority in mind.

If its really necessary and you can afford then why not. Its true that as time passes, things are getting expensive hence there's nothing wrong if you buy at this time (especially if its important to you) so you can list another goal to achieve.

But for me I prefer to priotize the needs before wants. I am more on expanding my resources to earn more so that in time I can retire as financially stable. Those things can wait and even worse scenario happened (like dying since its inevitable), its fine since I can pass the fruit of my hardwork to my kids.

of course i am . i call it self reward , because i still single of course , no need to hold my desire for something, as long we are not exaggerating our wish list , we still behave normally about wishes.

This is if the supply is not disrupted already. If you just knew what is going on in the supply chain today, you will not be seeing your Christmas package arrive if you order today because it may come after 6 months. With such a situation, the effect is that instead of prices going low because the launch price is higher, it may not go that direction anymore because if you add the inflation, the price may go higher instead.

I would rather take care of my old car, washing machine, and all that I have and never waste a dime. But buy more stock food, scarcity could come.

Got the drift here! Waiting could be just harmful for our plans and it would be pricey as we go along. There is also two ways to look at this really. The first one is psychological perspective and the other is increasing cost of leaving. The one first one is like, the more you wait the more you devalue it over the time because as the period go on you become just very lazy about it and you don't pursue it anymore.

Waiting is different dimension, but continuously working for it and shaping the dream while waiting is whole new universe. So get my drift here regarding psychological hindrance.

While the second point its much obvious and everyone experience the same. Day to day things are getting costly as the everything from raw materials to living stuff is getting scarce and rare which directly and indirectly hamper our livings.

So I agree OP, better get it done quick and sweet.

Doing things like this on a consistent basis, will cause it to become a life habit.

Eventually, you'll reach a point where it will become your natural tendency. You'll execute things in this way, without consciously thinking about it.

The opposite is also true. Procrastination can also become a life habit.

It takes an equal amount of energy for procrastination or being a self starter to become life habits.

Although it could be fair to say, that one carries more life rewards than the other.

"The pain of the discipline is better than the pain of regret."

I believe, the OP is just giving some examples of the situation. But the idea is like, why do things tomorrow if you can do it today? So following what needs to be done, will remove the burden you are carrying. So the circumstances will depend on each person here. It depends on your financial capability when you are talking about material things that you want. But when it comes to other activities, a lot of us are guilty of delaying things up until we are in cramming mode.

I do not understand this concept at all. If you are waiting for it that means you might not be financially ready for it, therefore buying a house in a very expensive place might mean you would have to compromise on many other things. There are places where renting is cheaper for long term and buying a house would need a lot of other things, might not be too easy for a lot of people as well.

I think it's wiser to look for opportunities and investments that would grow eventually and would not just be a burden. Buying a car would mean that you are investing in something whose value will decrease overtime and if you do invest that money in someplace else like bitcoins and other cryptocurrencies, you can keep making long term profits.

It's not just being in a haste it's more about choosing things which are right for you and for your financial situation at that moment.

I agree about the last part of it. It will bug you and it can create stress which happened to me just a few days ago.
I was planning to buy a new set of computer and I think it will be beneficial for me because I want to play higher graphics of NFT games and my old computer could not handle it anymore.
After 1 week of looking in the internet with research of what the good stuffs are it caused a lot of strain in my brain that gave me a bad headache.
But after receiving the computer package all of that is gone with the addition of beers and a long sleep.
Lesson: Get it done as quickly as possible if you need it. It's not just about the price or being expensive in the future, it's also your health that you need to take care of.

That's such a broad "advice" that it could mean multiple things.

If you meant that just buy that thing asap just to get it done with, then prooobably not a good idea.

On the other hand, if you meant buy that thing if you already have enough savings for a rainy day, that your finances are already managed really well, and that you've already done your monthly DCA investment, then probably; sure.

What if an item when first launched is expensive, do we have to buy it immediately or do we have to wait for the price to drop first and wait for a new version to come to replace it?
I don't want to rush just because I have to rush what I want to have, be it property or the like. Not all waiting is a bad thing. Unless item X has a limited supply and cannot be renewed, the price will be even more expensive.

I wish it is this simple. From where I'm living, an ordinary person wishes to buy a house as early as possible, but ends up buying one only after retirement at 60 years old or above. My parents must have wished to buy a house as well. Today, they're both old and separated. They were never able to build one for the family. It is very common for an ordinary person or family in my country to wish to have a car one day. To the majority of them, that wish will remain so until the day they die.

I easily understand what you mean here that delay is dangerous kind of but sometimes too you see that delay is not procrastination. Procrastination will be different from delay because it is trying to postpone a deal day that something should be done this is not the best habit but delay may be a result of unavailability of certain thing. At times too when you delay you may wade off certain evil or negative or the way. It is not wise to rush into things too, some say when you rush into something you are likely to rush out too.
 And truly getting things done faster helps to take away certain stress of your mind.

well, savings means for emergency or future purposes. So, I guess when you get your salary from your day job or profit from your business, you gotta separate funds intended for necessities, wants, and of course for savings. I shall say, don't rush things (luxuries) to buy even If it is just within the range of your budget because you'd never know you needed more money for necessary things. Another thing is that, most stuff today like gadgets, cars, appliances, and etc. are developing almost every year and these companies keep releasing new versions of it.
Believe me, even if a person gets rid about his wants, he'll come up again with another stuff that he likes and these hindrances will just go on a roller coaster.
Reality is that, saving money isn't easy.
IMO the new trend today isn't saving anymore, instead invest your money where It could give you good returns rather than letting it sit to a safe deposit vault and only earn 2% interest annually.

Try out this strategy, strike things quickly out of your need/want list and be content, so they no longer become a problem and hindrance to your plans to save/invest.

If you plan to buy a house for your comfort, and it is within your means, seek out a way to get it done quickly.

If you plan to get a car, as you feel you are ripe enough for it, and there's a means to get it, don't hesitate, get it quickly off your list.

if you plan to buy a home equipment, electronics or furniture,  and it is super important to you and your comfort, buy it and get it off your list.

The longer you wait at times, the more prices increase, things are not getting cheaper, the longer you wait the more the thought of this need bugs your mind.