Topic: How to avoid over expenses and have discipline - page 12. (Read 2495 times)

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.

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.

And who expect this to be easy? We are not living in a world where each and everyone provided with absolutely everything. If you want to improve your life conditions, you should make every effort because no-one will do this for you. And what can be stronger motivation than living your dreams and satisfying desires?
By the way, when I wrote about increasing income, I meant not thanks to another hired job, but by virtue of investments. If you just take more jobs, you won't have time for actual life. But passive income can provide you with both money and time.

And who expect this to be easy? We are not living in a world where each and everyone provided with absolutely everything. If you want to improve your life conditions, you should make every effort because no-one will do this for you. And what can be stronger motivation than living your dreams and satisfying desires?
By the way, when I wrote about increasing income, I meant not thanks to another hired job, but by virtue of investments. If you just take more jobs, you won't have time for actual life. But passive income can provide you with both money and time.

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.

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.

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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

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.

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.

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.

Helping is something that I couldn't quit doing but of course, I know my limitations. It's just that the feeling of helping others brings an exceptional feeling that no amount of money can buy. The gratefulness of the people around us after receiving help from us is really overwhelming. Helping doesn't necessarily mean that we need to spend everything that we have for them but by just simply sharing our blessings to those who are badly in need.

To control over spending, we need to discipline ourselves. We should know our boundaries and focus on our needs over our wants. It's better to control our urges to buy stuff that we don't really need than to regret things and suffer in the end.

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.

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.

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

I agree with both of you. It will take a good amount of trial and error before you can instill discipline in yourself. You will have to learn how, when, and what in realtime, by experiencing things in order for you to actually apply such changes. You have to gradually and organically grow through a process that will be filled with hurdles, issues, problems, defeat, and success. You have to be patient, understanding, and is actually willing to learn and not just there for the first ride.

Yes. I’m glad someone understands you don’t get disciplined overnight. It takes a lot of time along with regular practice and patience to be able to be consistent and in the long run, disciplined.
Sure, discipline is important and it would take some good level of discipline for an extravagant spender to quit spending funds on irrelevant things that are not needed.

But discipline can’t be instilled into anyone overnight. It’s a gradual and consistent process to get a little bit of discipline to curb any habit. In this case, spending on irrelevant things.
A middle income earner with an already disciplined mind would probably not be spending funds getting irrelevant things that are not really needed.

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.

You are right, it takes a lot of time to learn how to stay disciplined in all fields of life and not only with your finances, it takes a lot of time because you haven't been disciplined throughout your life and you all of a sudden feel the need of becoming disciplined because you see you are overspending and it is causing a lot of issues for you and your family in the long run since you are unable to have any savings or do anything extra like making an investment and stuff.

So, when you realize that, you will see yourself stuck in a pretty deep well of disorganized actions that you've been following throughout the years and now you want to get out of that will, you will definitely find it difficult to get out of it because you have already built a habit of doing all that.

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.