Topic: How to avoid over expenses and have discipline - page 2. (Read 2501 times)

People can plan their budget differently. They can plan to spend today more than they have, if their income during X period would be constant. That is also planning, but it consist having over expenses. Or people might plan to buy something they cant afford, and plan to repay it during X period. So planning also have underwater stones. For example right now I am planning to buy a car and cover part of its price by credit, even though I can pay whole amount at once.

Imo the problem of over expenses rises from oversaturated market. We have to many things to buy. We have to many things we want to have. I think if people wants to solve over expenses problem, they should start from that.

That's the start and that's what we call learning from his/her own experience. Because if you never experience the hardship of living under pressure and having nothing, you'll still be the type of person that never grown. Over expenses is a spending habit that you shouldn't really adopt even if you're the richest person in the world. Look at those people, their overspending habit are on assets and not with useless things.

Especially on this generation, about the healing the inner child when they're still thinking of the things that they have never bought because they can't avail it and now that they've grown up, it's like checking all of those things that are on their list. It's gonna be a nonstop list and checking and that's part of over spending and losing their discipline towards their money habits and management.

It's true that we get to plan and budget but most of the times when we're no longer disciplined, we're not following all of those plans, the budgeting and etc. Because what we're thinking is we can afford it despite that it's not really part of the plan.

These things will ultimately change over your lifetime, things that apply to people at a younger age will be totally inappropriate for somebody that is approaching retirement. Take general spending for example, when you are young you should get a lot of value from building life experiences through events, socializing and travelling. These things can bring you a depth of knowledge and experiences that are better than having money sat accumulating in a bank. However when you're near retirement age, you might start de-risking with things like your pension plan, swapping out equities (stocks) for bonds that pay less but are much more secure and unlikely to go down much in an economic crash.

Its truly impossible for someone not to be able to know on where their money would be going not unless if they do have those vices like gambling, drinking liqour and other activities which is really that consuming out too much fund on which you would really be just only be able to realize when its late but if we are talking into those typical spending like in food and other important things then it would really be needing that good allocation or budgeting on which we know that it would really be that so crucial on this part on having this kind of consideration. Having that kind of planning would really be saving up yourself on potential devastation or overdropped
with your budget and this is something that we dont really like because it would really be giving out that huge impact specially if you do have a family to raise on which budgeting would really be something
that recommended or something that crucial.If you arent really that something mindful about these basic stuffs then you would  really be ending up on having that kind of disastrous kind of situation
in speaking about finances.

You are right, our effective steps must be to differentiate basic needs and other needs to organize maximum financial management. If we have a limited budget, we must calculate the amount of monthly expenses for basic needs and the rest for other needs if necessary, but I suggest you have monthly savings for increase emergency needs funds. Of course, managing financial patterns in life is very simple, but our instincts are difficult to control to buy other needs without consideration, which is why many people do not have emergency savings funds which are very useful for future financial needs.

Yes, avoiding to allocate money to purchases is indeed a very appropriate action in terms of financial management in our lives, none other than because we must make considerations to adjust expenses with income. I think consideration is very important so that we can reach the right decision and avoid regret when something we buy is really not useful or has a good impact on ourselves.

In my opinion, one of the things that can be done for prevention is to do research in advance about what you really need within a month or one year, such as separating what your basic needs are within a month and if that's all you need then you can put the amount of money that you need for expenses, and also on the other hand we must learn to distinguish what is meant by needs and desires, sometimes people like to be fooled by something they think is a need when in fact it is just a desire from their lust that will only give them satisfaction but not get any other positive impact.

Impulsive purchases not always lead to spending more money than you have, but I agree that they play significant role. Humans are so tricky, that they can always explain and convince to themselves why they need to purchase exactly that thing and do it right now. Which transforms impulsive purchase into a regular purchase.

I would like to add to a list of actions to avoid spending to much such thing as changing habits. If we put on a list all the things we have bought or spend money on during month, we would see that there items or services we buy automatically, while they aren't needed that much or can be substituted. I'll give an example - morning coffee. We can get it home and pay only for coffee, electricity or water. Not expensive in general. We can get same cup of coffee at work, where your employee most likely give it for free. Or we can get it for 9,99 at Starbucks. Each day, several times per day.

It is very common for rich people not to experience excessive spending because they have more income to meet every need they need in life. So this is only more likely to be felt by poor people because poor people are constrained by their income level which is still less than the amount they need. So what you are saying is a very normal thing, even though in the current conditions it is actually very difficult for anyone to avoid excessive spending because most of the basic necessities have become expensive.

Everyone may have tried their best not to feel that way in their own lives, but this will still be felt by some people who still have very low incomes. Because in terms of daily needs, things are now starting to look the same even though everyone is still struggling not to spend too much money every day. However, this is still difficult to do except by simply trying to earn more income in each of our lives through different jobs.

Realization could neither be directly felt on first tries or would really be able to find out when things get messed up? This would really be that indeed varying on each person because we do know
that we do have different insights and views towards things and making out some decisions according into the situation we are in.In overall, having a good budget or financial allocation would really be that something crucial or something which is really that important.  If you are just that earning less then it would be just that normal that you would really be needing to adjust.
Spend only on the amount which is really just that right on your daily needs, if you do have some extra money then better kept it for savings and if there's still another extra then
this is the time you would be considering on buying some of your wants but of course everything should be in moderation.

Just stick into your budget plans and never ever make yourself get overdropped because if you do then you would mess up in the end of the line and this is something that must be
avoided in the first place.

The problem with this is that when we don't realize from the start that such things can be dangerous, we will indeed get carried away and forget, leading us to shop for things we want (not need) carelessly.
This kind of thing always happens which makes us a hedonistic person because we don't have good self-control and financial management.
But on the other hand, things like this always happen when there is a transition where we have more money because we always want to try something that we have never felt just to fulfill our own curiosity.

This obviously has to be reduced but it's not as easy as it looks because it's just human nature that when their finances increase then indeed the consumptive lifestyle always attacks and makes us complacent which ultimately makes us regret it at the end.

Op you are absolutely amazing and the points which you mentioned are very awesome and it will help in the economy of every house if they follow. Well I personally follow the whole week food chart in which I decided what to eat on which day and there are also plan for the guest as guest come at every time . Some people buying a branded things and I am wonder why they are wasting that money if the same thing will work better then that branded things. Mostly our monthly budget is out because of the wrong management and expenses on useless things. Just write the whole month groceries in a note book and fix a suitable fund for it and then you will be free form buying it to the whole month. If we make plan and going according to it then we will easily manage it even in a low salary.

Avoiding impulsive purchases may be the biggest factor in solving the problem. Most of our unnecessary expenses are things we buy on impulse. If we can prevent these, we will have taken a big step towards achieving what we want.

Companies that want consumption to happen take steps to deceive people, and they are very successful in this. The amount of money we spend on things we don't need is increasing day by day. To prevent this, we must make a list of our unnecessary expenses. What we seem to need today may not be needed tomorrow. It is necessary to think in detail before shopping.

I just think that we can no longer avoid overspending in the reality of our lives. Whether we are rich or poor, we experience it; the only difference is that the rich will not feel that they have over expenses.

It's not like people like us or me who can feel it and notice it, but as much as possible, if we can avoid it, let's do it so that there is no problem and we are not affected in real life. That is why having self-discipline is important.

I think that to avoid over expenses a person must experience first what it is like to live under pressure of owing money to someone. Real life experience is what differs theory from practice. We can say a lot about making budget, planning, avoid impulsive purchases. But people would still get tricked by taking wrong decisioins. But if we already know what will life would be, when we have already burned, then it will be much easier to avoid.

I think this one should be the best advice everyone should take note of. We always budget on everything, and when we say budgeting it also covers the cents we spend. Having a realistic budget also mean that you are thinking ahead of time, this means you already thought of the things you may need to spend from 0.1 to 100.

I don't have such a luxury on my body, not just a fan of, but I do have some expensive stuff but I can't find it any luxurious, however with luxury it should also be taken down based on our capacity. If we don't afford any luxury don't spend on it, even just to experience at least once, this is a big no. One thing I could advice to spend in luxury is if you can spend x10 of it, like sports car, mansion, designer clothes.

At the end of the day, this all comes down to our discipline on our finances. Be in control, do not let your money control you.

1. Make a realistic budget
3. Break down luxury expenses

This two would be the key or simply just my own personal choice considering that i have that a bitter experience because of buying with luxury expenses without even trying to think about on how
i would be able to pay and maintain up for long term. Yes, it could give out that kind of happiness and contentment but on the time that you are already experiencing burden on your back
specially on monthly payments specially if you do have mortgages then it would really be that an another story have. This is why you should really that mindful when it comes to your
expenses and other means on which if you arent that mindful about it then you would really be finding yourself on a great debt.

Everything should really be in moderation on which it does really need up that kind of control because we know that once you do mess up with this then
it would really be bring that huge impact into finances.

I think if you differentiate your needs from want you will be able to save your money, I personally don't want to talk about needs but we humans can't do without need cause it's essential but I see want as satisfying your desire when it's not necessary like buying ice cream, going for shopping etc, I understand your point having a supportive wife that's willing to support the family now in this generation is rare.
But the op actually mentioned making a realistic budget I think that will help if everyone can keep to the budget list and secondly making a family budget doesn't stop anyone from living a luxury life, the problem is most people fail to understand how to spend their money and they find themselves running short of money, making a budget shows how dicispline a person is when it comes to financial matters.
But the 24 hours rule it sounds as an oppression cause as a family man sometimes expenses comes unexpected.

Yes because planning and management are very important especially in terms of financial life, however we must be able to balance everything that exists or that we are doing especially managing finances, it will always be important because with it your life will be organized especially in the money factor, which usually you are confused when you want to fulfill basic needs because you are always excessive in realizing desires that are actually unnecessary then in this way and if you can do it consistently then you will not be confused anymore because you already have better management than before, and of course on the other hand this method is not only for just being useful in terms of balancing but on the other hand as you said indirectly this method is also quite effective for building a financial foundation to be better.


We are talking about someone who really doesn't have good finances and even struggles to meet their basic needs, it's true that there will always be a solution to every problem and I think it depends a little on the person too whether he wants to rise up or continue to be stuck in a zone like that. Of course as I said before, reducing unnecessary expenses is very important and it is better to choose to allocate money to something that has a good impact on our lives or even put it in a place that has the possibility that the amount of our money can increase such as investment maybe. Yes, usually people who are experiencing bad finances, one of the steps they usually take is to add part-time jobs such as for example what you said participating in some online markets and so on, basically a way to be able to get a job to increase their finances.


Sometimes there are still quite a lot of people who are fooled by the name of necessity when on the other hand it is just their desire to fulfill their lifestyle for example, it is not too important in my opinion because it is only for satisfaction, and yes if indeed we have more money than the rest of the needs then it is better to save it, it's up to you whether it will be saved or invested in some trusted assets, the point is you know what can make you safe and secure. Because yes I hope you can think about your future, we never know what will happen in the future, I'm sure everyone will experience a phase where they need money in an emergency, and that means this method is indeed very effective as one of the preventive measures.

Yes, it's true that everyone should recognize which ones are their needs and which ones are just their desires. But when spending money, there are still many who don't prioritize needs and instead prioritize desires. Well, they lack discipline in financial management.

Because for people who are disciplined in terms of financial management, as you said, they will prioritize basic needs and then second and third needs. Well, these terms, namely primary, secondary and tertiary needs, should be the main benchmark in making a financial budget in financial management.

I agree with your method. Personally, I also think that sticking to a budget is very important. Managing your money is more than just saving. For example, putting your wants first with your money is like building a foundation. It's not just about having food, water, power, or air conditioning; it's also about giving yourself a financial base

Now, I understand how hard it is for people whose income doesn't meet their spending. A lot of work. I know there's always room for financial manoeuvring, though. Lessening spending on things that aren't necessary is important. Additionally, looking for extra work is a step, but it's not the only one. They've done well with online markets, freelancers, and the gig economy. Using different ways to make money is vital

And I'm all about discipline when it comes to separating needs from wants. I advocate it. If you have surplus funds, investment is preferable to saving. Reputable assets for investments are essential. Since I am aware that the future is unpredictable, I take this seriously. "Hope for the best, prepare for the worst". That's how you reduce financial shocks in the future