Topic: How to avoid over expenses and have discipline - page 17. (Read 2501 times)

These are the qualities that successful people should have, you just have to be able to manage money, then you can allocate finances and you will see how much you need for a comfortable life.

Based on this, you will understand how much you need to earn so that you can save at least 10% of your earnings, but you must also strive to increase your earnings. This is what will allow you to create capital that you can invest and that can eventually bring you an income that will provide you with financial independence. Everything seems to be simple, but people often lack the disciplin for this.

Yeah, it all comes down to take notes everything from the bills, to food and necessities and to the other things that we're spending our money. Just break down everything to see on which part of it you should add or less more.

There are some of it that we can't avoid in spending and that's why if someone can't avoid in lessening the budget from any of those. The mere solution is just to increase your source of income and your cash flow.

I can also say that this strategy is really useful. Instead of spending my money, I end up saving it. However, this is only applicable when talking about your wants, but if you tend to buy your basic necessity, you will have no choice but to spend your money so you can have what you need. Still, spending within your budget and having some financial discipline are a must. Otherwise, you end up overspending and start taking personal debt just to provide your basic needs.

Perhaps this isn't on your list, but it holds immense significance for me – the art of shaping Financial Objectives.

Frequently, we stash away funds devoid of a distinct purpose, save for the simple notion of accumulating wealth. Yet, it would prove wiser to harbor a robust rationale behind every savings endeavor. Once your objectives are vividly outlined, like say, amassing funds to purchase a home outright, eschewing installment plans, that's where your commitment gains its mettle.

There's no need for grandeur in these aims; commence with the minutiae. Begin by stowing away for a novel musical instrument, a conduit for your passion, or any other commendable aspiration.

You're right; spending recklessly without any strategy is a disaster waiting to hapen. But let me tell you something - just realizing it doesn't make you special. The world doesn't care about what you should do; it cares about what you DO

Thank you for your cute piece of advice about "at least you tried." That's the talk of the also-rans. Winning is the only option! The world of Bitcoin, finance, business, and life - it's ruthless! If you're not prepared to dominate, don't even step onto the playing field

Considering success as "an option" is the thinking of the weak. To the victor go the spoils, and that victor needs to be aggressive, relentless, and always ten steps ahead. So, yes, give it a try, but know this: Trying isn't enough. Dominate or be dominated

Buying luxury items is a lifestyle fulfillment and it is not a necessity that must be achieved by everyone. Prioritizing something that is more important is far more beneficial because when we are faced with an unstable financial condition, we are no longer talking about fulfilling a lifestyle, but rather trying to fulfill something that is needed, including basic needs to support our lives. Saving should not only be done when economic conditions are unstable, but a lifestyle like that should be adopted by many people under any circumstances, both those with lower middle incomes and those with lower middle incomes.

Because we never know what will happen in the future and the worst scenario is when our source of income is unstable or in other words at work we experience layoffs. An intelligent person must think about the future in actions and behavior to support himself and his family because we cannot predict how our lives will be in the future, so we need to prepare steps for this problem.

The portion of savings should be placed with a certain percentage because if all of the income we have is in savings, the productivity of money will not increase. We recommend using a percentage or placing it in several places such as investing or running a business so that the money we have is more productive and does not settle. The method can be adapted to the ability of someone who is able to be responsible, whether utilizing business, investment or other things that are considered more productive.

What you said is true and right, that's the purpose of this topic, that other people can be educated about unnecessary things so that we don't end up spending too much in our daily life for a month. This is not easy to do in the real life of the individual.
But if we have self-discipline, it will not be difficult in reality but it can be easily implemented in real life. so whatever is listed that op said will really help.

I agree, and yes it is true. The 24 hours (or more) you spend wondering and making realizations regarding the product/service you are thinking of purchasing really helps you decide on whether or not it is worth purchasing or not. Most often than not, we things we buy on a whim just end up not giving any value to us, after a few days of use we get tired of it and that's when we realize that we just wasted a good amount for something that did not provide much use to us.

Totally agree with you spending more than expected can be very stressful and sometimes even frustrating... I dealt a lot with this problem, I would even say that there are times when spending more gets out of control, personally it has happened to me when unforeseen events occur, either Whether a family member is sick or something has occurred that requires more spending, the OP advice to develop a smart spending habit is very accurate. In particular, I'd say it's essential to carefully plan for day to day expenses and take all factors into account, such as the number of people you're shopping for and any associated costs, such as gas... Avoiding unnecessary purchases and being conscious of spending essentially helps to avoid going over budget...As well as setting clear limits for each category of spending and then sticking to them is really essential to maintaining a successful budget...I always try to keep self control and discipline is complicated in some situations, but it is the key to not exceed those limits and maintain financial balance.

We get carried away sometimes when we are happy, excited, or sad, which is why we have the urge to buy it off even if we don't need it. That is why implementing the 24 hour rule really eliminates those urges to buy it off, and now that most people have the cash on hand to pay it off, they can pay it off later as there are shopping apps right now that let you borrow money and pay it off on a monthly basis, which is why people are really tempted.

I particularly liked your point 4. Make the 24 hour rule. I think it’s practicable and if done right, could help put off unnecessary spending.

Irrelevant purchases often happen on a whim and most people tend to give in to those urges to buy what would seem then to be urgently needed.
But if you could just put off buying that item for a while, you would realize you don’t really need it.

For me this point is one of the basic or most important things we have to do to overcome excessive spending, namely by setting a budget for our needs or expenses.
Unfortunately, in my opinion this is sometimes very trivial for some people because maybe they feel it will make it difficult for themselves because they have to make detailed notes, even though if we don't make a record of our spending budget then our money will definitely run out quickly because we don't have clear goals obviously to spend the money or income that we have.
In my opinion, by making clear and detailed budget allocations, we can actually make it easier for ourselves to know and control our expenses, and we can control overly consumptive lifestyle desires, or we can say we buy things we don't really need.

I think that if you're still doing good even with that habit, you will not be problematic with that but it's good that you're aware that you're spending too much. Sooner or later, you'll realize that there's a need for you to adjust with your spending habit not unless it's not really affecting you that much.

Right, if you don't do anything and you're ending up with a bad result then that's something that you need to acknowledge. And even it's hard at the beginning to make up things right like in savings or overspending.

You have to try all the methods that you know that must be applied for your own sake.

This is something I do not really achieve neither, I spend way too much and it results with nothing good for me, obviously it is not going to end up being anything good for me in the end and I should be avoiding it as much as I possibly could, but that doesn't really change anything for me, it just results with something normal.

This is why I believe that we need to end up with a good result one way or another, it should be important and it should be considered a great result. Obviously that doesn't mean that we are going to end up with success all the time, but we should be considering that as an option if we can, and it should be a good thing to just even give it a try, because even if you fail, at least you tried.

The fact that today's economic conditions are getting worse every day requires us to pay more attention to our own economy.
- Creating our list of needs
- Avoiding unnecessary expenditures
- Not spending on luxury
- We can do many things, such as taking notes on our spending and organizing it. Everybody is responsible for their own finances, but often similar expenditures are made. There are similar expenses in society that are unnecessary but that many people do. Avoiding these expenses can also benefit us.

I agree with all that you've mentioned and it all sums up that everyone has to live with their means. Because the typical person today that lacks priorities are living beyond their means and they can't take.

It's not par with the salary and income that they're getting but, the lifestyle inflation that they have is enormous and coming to the point that they cannot sustain it anymore.

All that you've said can also be prioritized depending on the person but it's not always a priority that should be set. Like in traveling, it's like a once a month or two depending on how often the person travels.

Opportunities are meant to be searched those who are waiting for the opportunity to knock on their doors while taking the comfort of their home and being lazy often miss out.  As one of the verses in the Christian Holy Scripture :
⁷Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you: ⁸For every one that asketh receiveth; and he that seeketh findeth; and to him that knocketh it shall be opened. ► Matthew 7: 7-8

When it comes to workload, it is better to be a smart hardworking than be hardworking alone since by being smart, we are able to maximize our productivity in correlation to time.




Well, they don't want to share their secret because if it becomes well known, it is not a secret anymore.  Besides, the lesser the number of people knows the method, the lesser the competition.  Each one is entitled to their discovered great financial method.  Whether they share it or not, it is up to them.

Op have you encounter unexpected expenses in your life? And I believed yes; and I also believe you have heard about supplementary budget. What you have said is very but you have to add those two I have mentioned in your budget so that thing can be moving fine with you if not your budget in the week might be exhausted before the week end. Like according to a saying that nobody keep money for health related issues  it food and clothes can be in the budget. There are sometimes friends will ask you money to assist them get food on their table and when you looked at it the situation is critical so you have to help them if you have. And if the person is married with children, those two things I mentioned will come to play again. But if you are single your budgeting will help you, those there are some days you might spent more.

When people's incomes are stable and expenses are rising, budgeting is more or less thought about by most people. This budgeting trend is especially common among low-income people. Budgeting is undoubtedly a good way to cut costs. It is a very useful strategy for everyone from low income, middle income or those who belong to the rich class of society. Since inflation is almost everywhere these days, low-income people can manage their lives very well if they abandon certain habits to manage their lives. One should take a break from buying all kinds of things except for those essential in emergency situations. Refrain from buying luxury goods and cut back on some extra expenses like buying afternoon tea or coffee or hanging out with friends. If these issues are properly focused then budget control is possible.

This step is very useful for people who have a stable income, meaning that with a measured income they will easily determine and specify where to use the money. On the other hand, if the income does not match, this step needs to be rationalized according to the demand for daily conditions. The wisest way to react is to minimize expenses and meet basic needs first.

To be disciplined with spending, I think it takes learning and wisdom, sometimes the financial situation gets out of control when a situation like Covid-19 occurs.