Topic: How to avoid over expenses and have discipline - page 15. (Read 2501 times)

If you are low in income, you should have more discipline in your budget and not overspend because if we do, that is where we get problems, and we tend to take out a loan or borrow money from someone, and that is where the endless playing on our borrowed money starts, which affects our budget. Though you will still need to budget if you have a big income, again, those with lower incomes are affected the most as they are just earning low.

Can manage spending planning well even though a little income will be very good if we can do it. You are right by choosing additional income to supplement income, it would be very good to achieve financial independence and properly manage our expenses not to use on what we don't need so that we can save and it would be even better if we already understand investments we can invest to get more lots of extra income.

I agree with the attitude and self-awareness of each of us to avoid unnecessary excessive spending, saving money is far more important in current economic conditions and if this discipline can be applied then at least we can adapt to changing economic conditions. Everyone has responsibilities towards their family and when the fulfillment of life as a support for basic needs is not fulfilled, family conditions will be much more difficult so we have to manage spending patterns very well.

Even though there is a temptation every time we see something to spend, when we are reminded of the basic needs that must be met, sometimes we will undo to buy something that is not really needed. Maintaining the stability of spending and meeting the needs of life with family are important and different things when someone doesn't have children and a wife because their responsibilities are not too big.

Discipline is really needed even in all aspects. With time discipline there are many things we can do, with discipline it makes us better at behaving. So with financial discipline, we will be wiser in managing expenses.

Self-awareness is very important to do to prevent us from doing reckless things when shopping. And I always try to do both of those things. It is very difficult to do and I admit that, at first it might be easy to do these two things, but this cannot last long with the many temptations and encouragement from outside that make our determination waver.

Financial planning and budgeting revolve around the income you are getting. No matter how small or big your income is, it will then be used to layout your budget and plans. If you have a low income, you should not be buying stuff that is way out of your budget, you should try your best to compromise and stick with that plan. No matter how big or small your income is, those two are vital.

budgeting and financial planning always work but it honestly also depends on the income, if our income are too small then everything would be over expenses, the first most essential thing is to improve the income first though financial planning and budgeting also should come together with that honestly and then we can start building up the funds that we have, growing wealth and many more.
but we must also remember the very reason why we want financial independence that is to spent for something that we want (well not necessarily overly luxurious items like sports car) and still have so much money left we could be living our dream life, this couldn't be realized by just saving, as my first point still stands, increasing income takes priority.

Planning too much also makes life very boring. We should know which is important and which is not, for that we should set time duration. As in the op when we look for buying a product just wait for some time period and understand it's need. By then it is possible to understand whether it is utmost required or not. Based on that you can make the purchase. This way luxury spending can be limited and this is the best choice apart from budget planning where a major portion of unwanted expenses can be stopped.

You are really that simply putting yourself into some disaster later on on which living a life which it is really on that lavish side without even trying out to balance on how much you are earning? It would really be a damn suicide. Sooner or later you would be finding out yourself walking and sleeping on the streets just because you dont have a home because you dont have either have mortgage to be paid or having no rent money for you to pay on.If you dont like for your life to be messed up then its better to think up this way and better avoid as much as possible on unwise spending on something that you cant really be able to use or not really that necssary.
Just like the rest been saying that it isnt bad to buy some of your wants but it should really be on controlled manner because if not then you would really be stashed out by lots of useless things and you do forget your priorities.

You would be later on be minding about these stuffs on the time that you do see that your finances is depleting out. In order to avoid such condition then you should have done this earlier and not on the later part.
If you are really that not sensible towards your actions and doesnt mind about priorities and obligations then you would be simply be able to skip and made out such bad decisions instead.

So persons do not still understand that the way we earn might determine the way we spend our money. But sometimes this might not work for some persons because they might either have an urge to live a luxury lifestyle with the little they earn or something like always waving the little they have for the future which is one of the best way to keep money safe. If we don't keep our money then when we have emergency, we might not meetup with the demand we need to accomplish. Being discipline all depends on our interest and what we want.

I agree absolutely  with you op and above all you've said, I think cutting down on luxury and contentment is one of the major factors why people aren't planning  for the future is because of peer pressure and lack of contentment and anyone who has contentment, doesn't get affected by what the society has to offer at any given point in time.

Having a budget is another factor that can't be over emphasized but I think most persons earn barely enough for feeding talk more of savings so we don't have to consider budgeting as a factor except for those who have more than enough for feeding.

Actually in this case it depends on us in taking a stand.
If indeed we cannot or feel less when managing finances and the budget we have, it would be better if we slightly reduce and minimize the costs we need.

For conditions like this, especially with human nature, which in essence is always greedy, actually, no matter how much income in the end will always have expenses that are greater than the income we have because we are never satisfied with something and always want more things as a form of appreciation for ourselves which makes this a little more complicated to solve the problem.

The key here would be;

1. Make a realistic budget

Why would really be needing to spend more than on what you do able to earn or your income? There's no sense that you would be having that kind of spending on which you do look that its not something that would really be fitting out on what you do earn on which means that you do make yourself get in debt because you are really that overdropped because you have left nothing for your daily expenses and needs because you have spent out on other things which are totally useless. Its not really that bad to buy up something specially on wants but this should really be that in controlled manner because if not then you would be finding yourself on deep financial crisis specially if your salary isnt something that would really be fitting out on what you do earn or simply getting in line with your income. Always have that discipline on spending then you should
really be just that fine.

Well it seems that most of us experience something like this, income is still the same as before but the price of basic necessities is increasing and it is very difficult to balance expenses and income. It seems that in this modern era it's not enough for us to just work hard but we also have to work smart, take advantage of all the opportunities that come our way which will generate additional money. In conditions like this I see many of them then look for additional work such as part time to then increase their income. Now is the digital era, everything is automated and very easy, so there's no mistaking it if most of them then do their jobs online like maybe a business in a product, and even I saw many of them succeed there, this is a pretty good choice for pressing our current economic needs. Yes, you are very lucky if you can win at gambling by only relying on small amounts of money. In the midst of an economy that is not good, it is very possible for them to then turn to gambling, intending to multiply their money, but we also have to be aware of the various risks involved and I hope you don't take it too seriously because it will only make matters worse you.

It is not annoying but it is depressing, knowing that I already work hard but earnings seems still not enough to live even for a basic life. Don't get me wrong, I'm already budgeting with that current state.

I can only feel a little relief when I win a small amount in gambling. Don't worry, as I only use small amounts as my capital though I still have this regret whenever I lose, thinking that this small money will be a good addition already to my important spending. Oh well, at least I had a good time. Extra funds won't be called like that for no reason. They are only a small amount so don't expect that it can always fill the lack in our spending list.

The 24 hour rule for me should be a week rule, because that gives me enough time to think if I should really buy it.

It's not that bad to spend your money over some things that you wanted as long as you can afford it and you're not spending way too much based on your salary, if I'm not mistaken, you shouldn't spend more than 10% of your salary to avoid wasting your money in the things you only wanted, like new clothes, eating in fancy restaurants more often, buying luxury items, so on and so forth.

Financial discipline? Absolutely. Aligning our living standards with our earnings? Couldn't have said it better, but it's basic knowledge, isn't it? Most people don't get that

Now, on the subject of extra income, you're talking my language. Diversifying your skills is smart; it’s something I've always done. But let's get one thing straight: Bitcoin isn’t just a 'precious asset' like some toy in a collection. It's the future. The rewards? They won't just be 'significant', they will be YUGE

Learn from the best, and invest where it matters. Bitcoin isn't just an option; it's THE option. But you're on the right track, and I respect that. Just remember to always shoot for the best

Indeed, practicing prudent spending habits and upholding financial discipline is key for achieving financial stability is not only crucial in your personnel but also in your professional life, particularly for those involved in business activities. It is imperative to align our living standard according to our earning, as well as develop habit of setting aside some cash to address unexpected financial needs. Additionally, enhancing our skill set for generating some extra income is equally important. This extra income can be utilized to invest in precious asset like Bitcoin that can potentially yield significant rewards in future.

I completely agree with you. The pressure and enviousness a lot of people get from social media to "fit in" pushes a lot of individuals to live a lifestyle that does not fit their financial status. Instead of buying essentials for their daily needs they instead buy luxury products to show off to their "friends" and brag about it on social media for approval.

if we can run like you do, maybe no one has a lot of debt just to cover his lifestyle. nowadays many people want to look rich even though their income is not appropriate, therefore many people are in debt just to cover their lifestyle so that their friends see them as rich, and can live a lifestyle beyond their income. Such things actually torture yourself, because one day it will explode like a time bomb. However, there are also job demands as marketing which require a lifestyle like that so that it is equal to associating with rich people, because that is their business target.

Before, i'm really bad in budgeting our money and I tend to always exceeds to one thing (like for groceries) resulting to tight budget for other expenses. If you don't plan, limit and list what to prioritize first, you'll struggle financially.

That's why having a set budget for expenses is really a must to have a guide on how much you can only spend for that particular plan. I also learn to not spend more than what I can earn, this way I can still allocate money for savings that can be use for emergency. It's really effective, we just need to have discipline to avoid spending for not really needed.