How to avoid over expenses and have discipline - page 11.

bitterguy28

full member

Activity: 2170

Merit: 182

“FRX: Ferocious Alpha”

Quote from: xSkylarx on August 20, 2023, 01:10:37 AM

Quote from: gunhell16 on August 20, 2023, 12:05:08 AM

4. Make the 24 hour rule
This rule helped me when I was building in this way. Because when I want to buy something, I put it off for 24 hours, and during this time I learn how to assess these things. Usually the excitement we experience disappears immediately after a few hours. You imagine the sacrifices you will make when you accomplish them. Like the small savings you have or sometimes we will even borrow the money we will use here. At least in this way we can avoid impulsive buying or bursts of emotion.

This is really the strategy I am using right now because it is really working when you have the urge to buy, mostly right now that we can buy using our phones and are mostly easily tempted, like right now new phones and other stuff that you found nice, which again we know is not needed, but because we can't control ourselves when we buy, we have like 24 to 48 hours to know if you still need it or want it.

oif course , because what is the sense of having budgeting when you are skipping from it? if we only limit the time of budget meaning there is a cheat time and from that you can buy more and more and spend a lot?
having this 24/7 for me is the best and safe way to manage your money.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: gunhell16 on August 20, 2023, 12:05:08 AM

Isn't it stressful when we spend more than expected, right? especially if we follow a budget, having a smart spending habit is a good way to avoid such situations or events.

1. Make a realistic budget
In budgeting it is important that we consider everything. It should be realistic and achievable, It cannot be said that the budget is only 20$ for a week for food if you are 8 people who will eat at home. Plan what to eat every day and budget for it. Write down all the ingredients or how much to buy and how much it will cost in pmashae or gasoline if there is a car. Do everything with consideration and do it consistently.
Stop yourself from buying things you don't need, like buying coffee at starbucks when you can just buy 3 in 1 sachet coffee that just tastes like coffee. Because if we cannot prevent such expenses, include them in the budget.

this one is the most functional ., because it is our actual budgeting that surely affect our living and funds if not taking properly.

Quote

2. Find out what triggers the cost
It's important that we know this if it's stress, boredom, pressure from friends, need to follow the trend and so on. It is important that we have discipline in these things if you want to avoid overspending. For example, if you're bored, you hang out online shopping at Lazada, Amazon, and others, this habit should be replaced with something more productive, such as cleaning the house and others where you can avoid it and do something good.

actually the rule number one reflected on this completely because if you have budgeting you will never be triggered by anything.

Quote

3. Break down luxury expenses
Try to list the things you have spent and separate the luxury and the things you have spent. It is important that you know what is really needed and the word I deserve it.

actually , if you are in legit budgeting , there is no chance that you will have luxurious buying because that will never comes out your mind, you will keep looking for cheaper way to buy or use.

Quote

4. Make the 24 hour rule
This rule helped me when I was building in this way. Because when I want to buy something, I put it off for 24 hours, and during this time I learn how to assess these things. Usually the excitement we experience disappears immediately after a few hours. You imagine the sacrifices you will make when you accomplish them. Like the small savings you have or sometimes we will even borrow the money we will use here. At least in this way we can avoid impulsive buying or bursts of emotion.

another one that says by the first rule. you must take it not only 24/7 but also 366 days a year(above one from 365 days for surely implementing)

Quote

5. Set a budget
Allocate a limit on expenses, know all areas of expenses from food, rent, electricity, water, shopping and other things related to spending. Once you set all of your spending limits, make sure to follow them and do it because everything will be ignored if you don't do it.

I hope this somehow helped us and the community here on the forum.

Other source:
https://www.incharge.org/financial-literacy/budgeting-saving/how-to-cut-your-expenses/
https://www.mymoneycoach.ca/blog/how-to-stop-spending-money-7-tips.html

i don't know why this needs to be broaden when it is completely happening if you follow the rule 1.

ancafe

hero member

Activity: 1778

Merit: 746

Quote from: Juse14 on August 29, 2023, 07:37:47 AM

Thanks in advance for clarifying what I mean. And one more thing I want to say besides we need to take care of our health. We also need to avoid what is called "Instalments". Sometimes someone is willing to work overtime and look for a part-time job to get money to pay installments and even worse, they are still working at an advanced age because the installments haven't ended yet.

Someone makes installments from most people that I see not because of need but because of desire and high ego. Want to look capable by others have a luxury car and a magnificent house.

Health is a positive energy that can build one's enthusiasm to achieve success, therefore maintaining health is far more important than the desire to earn lots of money. The portion of work must be adjusted and when the break time comes, don't be forced to work because it will interfere with your health. Humans need 7 to 8 hours of rest at night and if we ignore this it will have an impact on our health and if the disease does not attack us in the near future then it is possible that in old age we will get sick. In the end, the money that we have collected must be used for treatment without stopping and the worst part is that the money runs out and we will leave the world because we die.

There is no pleasure in life if you keep trying to make extra money and positive energy is also present in your family if you are able to take advantage of it and providing time with them will actually foster enthusiasm and positive energy in our lives. Be responsible in all aspects to build financial strength and avoid non-productive loans because that is another problem that can also affect psychology and human health, live in moderation and don't force things beyond our capabilities.

radjie

sr. member

Activity: 1792

Merit: 264

Sometimes expenses are difficult to predict every month, even though we have detailed everything, there are always urgent needs that require us to incur additional costs
Perhaps the most important thing is to get into the habit of saving a fixed amount every month, so that we can have reserve funds when needed, and are always productive in seeking additional financial input, so that we can meet our main needs.

Raceonsucced

member

Activity: 235

Merit: 42

Discipline is the key to everything. If you are disciplined and follow all the rules, then your finances will be very well managed. And before we spend something, we must first think about whether it is as needed or not. Thanks OP all these tips really helped.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Quote from: Woodie on August 29, 2023, 05:45:30 PM

When one talks about having discipline of how money is used, it all comes down to having a budget that you will follow nomatter the circumstances!! Yes this includes emergencies as others go out of their budget to spend extra which shouldn't be the case, as you need to allocate some money that will go towards miscellaneous items or emergencies so that when that time comes...the huge bills dont hurt your pocket or cause some hypertension...

Quote from: ?? on ??

Managing expenses and maintaining discipline can be challenging, but here are a few strategies you can try: create a budget and stick to it, differentiate between wants and needs, avoid impulse buying, set savings goals, track your expenses, and practice self-control. Remember, small steps can lead to big financial wins!

Easier said than done, this is from a personal experience Tongue

Btw, from my observation...why is it that women find it easy to budget as co.pared to the men who spend without considering budgets Huh

I also have noticed this. In most circumstances, women are expected to be the ones to do household budgeting as men provide the income. Women are the ones to handle transactions in terms of paying the bills, doing groceries, and just generally having the knowledge of when and how much something needs to be paid for, and what is too much in terms of the income getting by the household (may it be from the sole income of the man or both man and woman of the house).

According to an article by Forbes, back in 2016, women budgeted better than men due to three general reasons: (1) women plan while men are impulsive, (2) women avoid risks, and (3) women are not afraid to ask for help. For more understanding of these points, and a complete explanation of them, here's the article: https://www.forbes.com/sites/gingerdean/2016/05/28/why-women-budget-better-than-men-and-what-they-can-learn-from-us/?sh=61318c2469b9

However, bare in mind that the article is from 2016, and I'm sure there are more and better articles out there explaining this and even debunking the idea.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: Fortify on August 29, 2023, 02:04:25 PM

Quote from: gunhell16 on August 20, 2023, 12:05:08 AM

Isn't it stressful when we spend more than expected, right? especially if we follow a budget, having a smart spending habit is a good way to avoid such situations or events.

1. Make a realistic budget
In budgeting it is important that we consider everything. It should be realistic and achievable, It cannot be said that the budget is only 20$ for a week for food if you are 8 people who will eat at home. Plan what to eat every day and budget for it. Write down all the ingredients or how much to buy and how much it will cost in pmashae or gasoline if there is a car. Do everything with consideration and do it consistently.
Stop yourself from buying things you don't need, like buying coffee at starbucks when you can just buy 3 in 1 sachet coffee that just tastes like coffee. Because if we cannot prevent such expenses, include them in the budget.

2. Find out what triggers the cost
It's important that we know this if it's stress, boredom, pressure from friends, need to follow the trend and so on. It is important that we have discipline in these things if you want to avoid overspending. For example, if you're bored, you hang out online shopping at Lazada, Amazon, and others, this habit should be replaced with something more productive, such as cleaning the house and others where you can avoid it and do something good.

3. Break down luxury expenses
Try to list the things you have spent and separate the luxury and the things you have spent. It is important that you know what is really needed and the word I deserve it.

4. Make the 24 hour rule
This rule helped me when I was building in this way. Because when I want to buy something, I put it off for 24 hours, and during this time I learn how to assess these things. Usually the excitement we experience disappears immediately after a few hours. You imagine the sacrifices you will make when you accomplish them. Like the small savings you have or sometimes we will even borrow the money we will use here. At least in this way we can avoid impulsive buying or bursts of emotion.

5. Set a budget
Allocate a limit on expenses, know all areas of expenses from food, rent, electricity, water, shopping and other things related to spending. Once you set all of your spending limits, make sure to follow them and do it because everything will be ignored if you don't do it.

I hope this somehow helped us and the community here on the forum.

You have to be careful with things like luxuries and determine what you really want from life. If you want to retire a bit earlier and can think that far ahead into the future, then that expensive car that you have to finance for five years will be eating away at money, paying a loan interest rate, that instead could have been invested and tripled itself over 20 years. Some people are happy with a cheaper runaround that will get them from A to B, but others consider driving to be their passion and may actively make that decision which should not be faulted. Same with anything else, that 5k one week river cruise could be nice, but for one thousand you could probably get a lot too.

If luxuries thing like Gold and diamond or whatever precious which does have that appreciating value then i could say that it would be worth it, but if you are that coming after into those luxuries which turns out to be a
liability like luxury cars and other similar things then it would really be just that creating that kind of potential problem which would really be affecting your finances if you arent really that mindful nor really that wise
in regarding with your spending. Discipline would really be the key and if you arent really that mindful about on things around on how you do spend and on how you do allocate your finances then expect on what comes next. I agree on most words of most people on here that better set your priorities first before among others on which leisure and luxury things or vacation or travel should be on your least priority. They can wait and
what you should really be in concern about is on how you should really be that gaining more income source on which you could really be able to support if you are really that kind or type of spender.

Woodie

hero member

Activity: 1834

Merit: 879

Rollbit.com ⚔️Crypto Futures

When one talks about having discipline of how money is used, it all comes down to having a budget that you will follow nomatter the circumstances!! Yes this includes emergencies as others go out of their budget to spend extra which shouldn't be the case, as you need to allocate some money that will go towards miscellaneous items or emergencies so that when that time comes...the huge bills dont hurt your pocket or cause some hypertension...

Quote from: ?? on ??

Managing expenses and maintaining discipline can be challenging, but here are a few strategies you can try: create a budget and stick to it, differentiate between wants and needs, avoid impulse buying, set savings goals, track your expenses, and practice self-control. Remember, small steps can lead to big financial wins!

Easier said than done, this is from a personal experience Tongue

Btw, from my observation...why is it that women find it easy to budget as co.pared to the men who spend without considering budgets Huh

Rockstarguy

hero member

Activity: 1050

Merit: 592

God is great

Quote from: ?? on ??

Managing expenses and maintaining discipline can be challenging, but here are a few strategies you can try: create a budget and stick to it, differentiate between wants and needs, avoid impulse buying, set savings goals, track your expenses, and practice self-control. Remember, small steps can lead to big financial wins!

With the rate at which things are expensive adhering to a strict budget can be very hard. Nevertheless one has to be very deliberate about working towards financial security. To buttress your point a bit, having solid investments can also be a key tool not only in building wealth but also in managing current and future finances. That means even with making budgets, scale of preference, and self-control, one has to deliberately set specific amounts either weekly, monthly, quarterly or annually bottom line whatever works for you, to set money aside for stable investments that will yield returns.

Fortify

legendary

Activity: 2688

Merit: 1192

Quote from: gunhell16 on August 20, 2023, 12:05:08 AM

Isn't it stressful when we spend more than expected, right? especially if we follow a budget, having a smart spending habit is a good way to avoid such situations or events.

1. Make a realistic budget
In budgeting it is important that we consider everything. It should be realistic and achievable, It cannot be said that the budget is only 20$ for a week for food if you are 8 people who will eat at home. Plan what to eat every day and budget for it. Write down all the ingredients or how much to buy and how much it will cost in pmashae or gasoline if there is a car. Do everything with consideration and do it consistently.
Stop yourself from buying things you don't need, like buying coffee at starbucks when you can just buy 3 in 1 sachet coffee that just tastes like coffee. Because if we cannot prevent such expenses, include them in the budget.

2. Find out what triggers the cost
It's important that we know this if it's stress, boredom, pressure from friends, need to follow the trend and so on. It is important that we have discipline in these things if you want to avoid overspending. For example, if you're bored, you hang out online shopping at Lazada, Amazon, and others, this habit should be replaced with something more productive, such as cleaning the house and others where you can avoid it and do something good.

3. Break down luxury expenses
Try to list the things you have spent and separate the luxury and the things you have spent. It is important that you know what is really needed and the word I deserve it.

4. Make the 24 hour rule
This rule helped me when I was building in this way. Because when I want to buy something, I put it off for 24 hours, and during this time I learn how to assess these things. Usually the excitement we experience disappears immediately after a few hours. You imagine the sacrifices you will make when you accomplish them. Like the small savings you have or sometimes we will even borrow the money we will use here. At least in this way we can avoid impulsive buying or bursts of emotion.

5. Set a budget
Allocate a limit on expenses, know all areas of expenses from food, rent, electricity, water, shopping and other things related to spending. Once you set all of your spending limits, make sure to follow them and do it because everything will be ignored if you don't do it.

I hope this somehow helped us and the community here on the forum.

You have to be careful with things like luxuries and determine what you really want from life. If you want to retire a bit earlier and can think that far ahead into the future, then that expensive car that you have to finance for five years will be eating away at money, paying a loan interest rate, that instead could have been invested and tripled itself over 20 years. Some people are happy with a cheaper runaround that will get them from A to B, but others consider driving to be their passion and may actively make that decision which should not be faulted. Same with anything else, that 5k one week river cruise could be nice, but for one thousand you could probably get a lot too.

Aanuoluwatofunmi

sr. member

Activity: 798

Merit: 436

Quote from: ?? on ??

Managing expenses and maintaining discipline can be challenging, but here are a few strategies you can try: create a budget and stick to it, differentiate between wants and needs, avoid impulse buying, set savings goals, track your expenses, and practice self-control. Remember, small steps can lead to big financial wins!

These are nice and interesting advise recommended, if he can cut the cost to other things of no value and set priority of things that matters alot, it will help in monitoring what and what we spend our money for, also there are other things we need to pay attention to, we have to know how to set order of priority in terms of budget and needs through adequate planning, we should end the lavish spendings on liabilities and begin to invest on profitable assets.

m2017

legendary

Activity: 1792

Merit: 1296

Crypto Casino and Sportsbook

Quote from: gunhell16 on August 20, 2023, 12:05:08 AM

1. Make a realistic budget
In budgeting it is important that we consider everything. It should be realistic and achievable, It cannot be said that the budget is only 20$ for a week for food if you are 8 people who will eat at home. Plan what to eat every day and budget for it. Write down all the ingredients or how much to buy and how much it will cost in pmashae or gasoline if there is a car. Do everything with consideration and do it consistently.
Stop yourself from buying things you don't need, like buying coffee at starbucks when you can just buy 3 in 1 sachet coffee that just tastes like coffee. Because if we cannot prevent such expenses, include them in the budget.

You can't compare coffee from Starbucks with coffee 3 in 1.

Actually, the inner content is not the same. If you are used to one level of life, eating and drinking the appropriate products, then you probably will not want to switch to 3-in-1 products. Maybe then immediately switch to drinking plain water and eating only bread?

How long can you hold out like this for the sake of reducing overspending? Is it worth it to unnecessarily give up everything you need in your life in order to cut costs?

It will be possible to avoid overspending only until you hit your usual standard of living, which will grow as your financial condition improves. Once you reach a comfortable level, you will not want to go back to your old eating and drinking (analogy with food). That is, savings by reducing overspending will be possible only in certain redistributions.

Razmirraz

sr. member

Activity: 1316

Merit: 422

Quote from: gunhell16 on August 20, 2023, 12:05:08 AM

1. Make a realistic budget
In budgeting it is important that we consider everything. It should be realistic and achievable, It cannot be said that the budget is only 20$ for a week for food if you are 8 people who will eat at home. Plan what to eat every day and budget for it. Write down all the ingredients or how much to buy and how much it will cost in pmashae or gasoline if there is a car. Do everything with consideration and do it consistently.
Stop yourself from buying things you don't need, like buying coffee at starbucks when you can just buy 3 in 1 sachet coffee that just tastes like coffee. Because if we cannot prevent such expenses, include them in the budget.

Recording the budget that will be used and how much can actually be spent and can be saved is one way to manage finances or to achieve financial goals. In order to realize balanced financial management between income and expenditure, it is necessary to record or make a realistic budget, expenditures made must be based on prearranged records.
Apart from having to balance income with expenses, it is necessary to determine the amount of money to be saved or invested, besides that it is also necessary to separate the wants and needs in spending. To avoid over budgeting, it's important to review your family's mid and long-term financial goals and think about what you want to do with the money set aside each month.

Juse14

sr. member

Activity: 1134

Merit: 406

Duelbits

Quote from: serjent05 on August 27, 2023, 05:14:07 PM

Quote from: Japinat on August 27, 2023, 03:38:35 PM

Quote from: ancafe on August 27, 2023, 10:21:07 AM

Quote from: Juse14 on August 25, 2023, 12:33:11 PM

When it comes to saving, many people save money by reducing rations or reducing adequate food intake. They do this to save money, but what happens is it weakens our immune system and makes us more susceptible to disease. which in the end they spend their savings to go to the hospital.

Saving is important, but don't let it affect your health. If we want to save money, we must not depend on just one job. In the sense that we have to open a new business or look for side jobs such as trading and others, so that we have additional income to save.

That is a mistake in interpreting saving and ignoring the need for food as a fulfillment of life will be much worse because we will be faced with disease problems and when someone places savings in an inappropriate amount then what will happen will only be more problem. To increase savings, what we have to do is seek more income by working in several places or building a small business according to ability and from here we can make a portion of savings that is much more stable and continues to improve.

Ignoring health for reasons of saving is a bad decision and I don't think this is the right decision. Health will be far more important than money and the better health we have, the more productive we will be in making money. How is it possible for people to save if their health is compromised and where can they get the money from.

You both are right. Health is wealth as well, that’s why it should always come in priority. While saving is a positive habit, but you should only save when you are capable to save, and not putting other things in compromised just to make it happen. Furthermore, the only way to save more is to increase your income. Do not settle in just one job. Add some side hustles that fit your skills. If not, develop your skills so you can be fit to your chosen side jobs.

Greatly said, I can't agree more, while we are into investment and activity that can lead us to profit and earn money, we also need to invest in our health. If we avoid getting sick, our productivity will never be hindered. Imagine working overtime on a daily basis for a month just to end up getting sick the following days. This kind of scenario will cost us a lot of money and at the same time hinder our productivity. If we do not want to prioritize our health then at least make our activity balance so that our body won't be overworked. Having everything in harmony is also one way of preserving our health and make us more productive in creating wealth through different sources.

Thanks in advance for clarifying what I mean. And one more thing I want to say besides we need to take care of our health. We also need to avoid what is called "Instalments". Sometimes someone is willing to work overtime and look for a part-time job to get money to pay installments and even worse, they are still working at an advanced age because the installments haven't ended yet.

Someone makes installments from most people that I see not because of need but because of desire and high ego. Want to look capable by others have a luxury car and a magnificent house.

Texac

hero member

Activity: 2086

Merit: 513

DGbet.fun - Crypto Sportsbook

Quote from: bitLeap on August 28, 2023, 06:10:01 AM

Quote from: Texac on August 28, 2023, 04:58:47 AM

Quote from: Etranger on August 28, 2023, 02:13:02 AM

Quote from: Russlenat on August 27, 2023, 10:22:44 AM

Or better yet, increase your means of income so you will never struggle if ever you have cross the limits in your budget.

That was exactly my point. I believe, a focus on increasing sources of income could really make a difference in someone's life, compared to just provision of basic needs. Because it motivates to change conditions for the better ones. While exceptional ensuring basic needs keeps you in the same place you were before without any movements ahead.

Increasing income is the most perfect solution for us to have a more comfortable life instead of just budgeting savings and limiting spending. but it seems that very few people do this because most are lazy, do not want to work too much, so they always think of excessive savings plans for themselves.
Another thing can also be that finding part-time jobs is also very difficult nowadays because as we all know the economic situation is facing a lot of difficulties. companies and businesses are constantly going bankrupt, so finding a day job is not easy. therefore, the planning of spending and saving needs to be more focused.

Yes, that is one solution that can be done, but in reality it is not that easy to do. I mean there has to be motivation for someone who wants to earn extra income, because if not then they will never do it. And also what must be considered here is the initial capital that they have to spend if they want to make extra money from starting a business for example. Of course we must also be prepared to lose money when the business we start does not go according to plan or in other words our business goes bankrupt for one reason or another.
We must be prepared for all possibilities in this case, but that does not mean it cannot be done, as long as we are willing to work hard and be patient then we will achieve something we want.

There are many ways to earn extra income, you don't need investment or business. If you are a risk averse person, you can also increase your income by working overtime or part-time jobs. while that won't make you rich or live a lavish life, it's certainly better than living on a single source of income. but like I said, it's not easy because it depends on each person's situation and thoughts. not everyone works hard or not everyone easily gets a job, especially those with low education.

uswa56

full member

Activity: 882

Merit: 211

Quote from: Strongkored on August 29, 2023, 12:00:13 AM

Quote from: Arenga pinnata on August 28, 2023, 07:09:48 PM

Saving on living costs looks very easy when we plan for it and make careful planning for it. But when it is practiced, sometimes we even get out of all the plans that were made.

And the main key is indeed in self-discipline. And change excessive living habits by replacing them with a simple life.

But for those who are used to living in luxury, it will still be difficult to discipline themselves to live frugally.

the solution I think about this is to have the motivation and goals to achieve something that requires a lot of money. So like it or not we have to save money and collect a lot of money to get it.

The key is discipline and finding ways to earn more because if you only rely on one income, you will find it difficult to make ends meet in the future because an increase in salary can never beat inflation, which is always the enemy of the middle class.
Cutting living expenses by looking for anything that can be reduced can help, but humans will always be filled with a sense of desire and there are times when we end up fulfilling these desires so that they exceed the budget that has been made, so compared to focusing on reducing it will be better to also focus on getting additional income which can make our income increase and from there it can also be allocated to invest, reduce consumer debt and also reduce activities that only spend money such as going to cafes or malls

Having discipline in managing finances and looking for additional income is a good thing to be able to continue to meet our needs when facing inflation.
Cutting expenses is indeed an easy thing to say, but it will be very difficult to do if we have bad financial management methods. I really agree with what you said, compared to reducing expenses, it would be very good if we were looking for some additional income so that we could meet the needs we want, but we still need to manage our finances properly so that we don't use the money we get for other things which is not important.

Etranger

hero member

Activity: 504

Merit: 816

Top Crypto Casino

Quote from: xSkylarx on August 28, 2023, 10:00:14 PM

snip

Quote from: dunfida on August 28, 2023, 06:31:18 PM

snip

I get both of your points, and partly agree with them. However, we couldn't achieve anything if it weren't for some efforts and even sacrificing. For me this is a choice between dependent and autonomous life. Being a hired employee will not lead me to complete independence and freedom. And although investments are associated with many risks, in particular with the risk of losing savings, I am ready to take such a step, because only this can ensure the realisation of my goal in the end. Whereas wage labor, even in high-paying positions, will always put me in a dependent stance, because time is not in my favour, and one day I could just be fired at a moment's notice, and I would be left with nothing. I see my task in preventing such a scenario, and rely on crypto-investment in this matter.

ancafe

hero member

Activity: 1778

Merit: 746

Quote from: Arenga pinnata on August 28, 2023, 07:09:48 PM

Saving on living costs looks very easy when we plan for it and make careful planning for it. But when it is practiced, sometimes we even get out of all the plans that were made.

What makes all these plans fall apart is because our income and expenses are not balanced, so that the problem of saving on living expenses will be uncontrollable and also not fulfilled properly.

Quote from: Arenga pinnata on August 28, 2023, 07:09:48 PM

And the main key is indeed in self-discipline. And change excessive living habits by replacing them with a simple life.

One of the keys is discipline, but we also have to increase sources of income because when the income we earn is small but all basic needs go up, then from there discipline will again not be able to be applied properly.

Quote from: Arenga pinnata on August 28, 2023, 07:09:48 PM

But for those who are used to living in luxury, it will still be difficult to discipline themselves to live frugally.

the solution I think about this is to have the motivation and goals to achieve something that requires a lot of money. So like it or not we have to save money and collect a lot of money to get it.

Luxurious living with a large income may be able to compensate for this and an extravagant lifestyle is not a wise way to react, it becomes a problem when the income is small but has a habit of living extravagantly. The trick is to increase your monthly and daily fixed income, simple life problems will usually differ from one person to another. Life motivation does not only talk about saving behavior because at certain moments we need refreshing with our family, medical expenses and children's school fees. Then the way to get this right is to increase income for savings, building a business or investment.

When our economic strength is stable it will be easier for us to meet all the needs of our family, in particular. Remember, life is not just about earning a lot of money but how we can adjust to the needs of our family and most importantly not neglecting our responsibilities as people who have a family. Men will be seen how to be responsible, not just how to make as much money as possible because in fact the nature of men is to be a leader.

Xcode7

sr. member

Activity: 1148

Merit: 432

Quote from: Pierre 2 on August 29, 2023, 12:46:53 AM

I think most people suffer from not ever budgeting their expenses for sure. Especially average people never consider how low their wages/income can be in inflation markets so they go to minus every month. But still not calculating, they keep on using debts through credit cards which have over the roof rates in USA (example). So first thing to do is to spend as much as we earn. Bankrupts of families happen because of this.

It is required that we follow a lifestyle that is proportional to the income we have, but sometimes there is income that does not match the necessities of life so we have to work harder to make more money to fulfill our needs.
Those are 2 different problems and different ways of handling them. We must first understand the problem. If we earn little money and have big expenses, we have to work even more.
But if our expenses are due to following a lifestyle / buying things that are not important, then we must be able to control ourselves for economic stability and a future that we need to rearrange.

Pierre 2

legendary

Activity: 2436

Merit: 1366

I think most people suffer from not ever budgeting their expenses for sure. Especially average people never consider how low their wages/income can be in inflation markets so they go to minus every month. But still not calculating, they keep on using debts through credit cards which have over the roof rates in USA (example). So first thing to do is to spend as much as we earn. Bankrupts of families happen because of this.

Topic: How to avoid over expenses and have discipline - page 11. (Read 2496 times)