Topic: How to avoid over expenses and have discipline - page 4. (Read 2495 times)

From my point of view , it all comes down to money management and in my opinion this should be learn from school because we can see nowadays a lot of teenagers that really don't know how to have an asset management ( from money , to gold to cryptos or any other valuable things ). It's also safe to say that we need financial education from early ages ( I would say 12 it's a nice age to actually learn a bit of financial management ) but society wants to keep us poor so I doubt we will ever see financial education in elementary school. 

To stay on budget it's a good idea to plan ahead because you also need to think about savings that are essential for the future. Budgeting helps you identify and achieve your financial goals including saving for retirement or buying a home and paying off debt. When you create an effective budget it can save you from overspending excess debt and financial instability and stress.

The problem is also with other people who already know that their source of income is not enough; they still have expenses. Because they may think they have an alternative to their expenses through borrowing or whatever reason.

But even so, for people who know that their income is not enough, they wish they could budget their income for important bills, because there are also others who, even if their income is small, apply the saying "If the blanket is too short, learn to bend".

   Spending is bound to happen but overspending is not advisable. With the current economic situation, we ought to be watchful of how we use the money that we tried hard to acquire. Truthfully we make money to spend money but we just have to be careful in the things we spend on. We should put in our scale of preferences in the spending plan and for every money made, we shouldn’t neglect drafting out a budget. I believe these two would better help to curb wasteful spending. No doubt even with the budgets made, there can still be occurrences where we tend to use extra for unforeseen circumstances that may occur.
    We should learn to place our priorities right, you should weigh your wants and needs and be able to predict which is more important to fulfill at that moment; it’s called preference scaling. And then after we are done with budgeting the costs for these majors(wants), we create a space for miscellaneous expenses which would cover our daily needs and also unforeseen circumstances. This way we’d be able to regulate our income and be sure that we spend wise and right. No matter how much you believe in yourself to use your income rightly, you’d be surprised to see that you’ll keep falling into the trap of spending excessively. Conclusively the basic solutions for overspending is budgeting which should work hand in hand with us scaling our preferences.

To avoid overspending, you must first identify where your excess spending is coming from. When are you spending too much, and for what purposes? Answer these and more questions to yourself, then find the answer, list it out, and make a budget to avoid them. Just be aware of where you are spending and why, and then you can easily make decisions. Just being aware of your spending is the solution to this problem. You don't have to be frugal, but balanced. Even there are people who are stinging. It's also not very impressive, so in my opinion, spending too much or too little is not advised. Making money is not the only way to live; you can spend too, so create a balanced budget.

You are right that without having a stable income it will not be possible for us to be able to manage our expenditure budget, so having a stable income will make it easier for us to manage our expenditure budget. Being able to group together our needs and our desires will be very good for us in managing our finances because if we cannot differentiate between these two things it will be very difficult to avoid excessive spending. If we can manage our expenses well, it will make it very easy for us to save and invest so that we can get profits from these investments.

And actually, before that, we also have to stabilize our income first. Because setting a good budget won't be of much use if our income is uncertain. But if we feel we have a fairly stable income then setting a budget and implementing it becomes easier. Recognizing the types of needs and classifying them based on basic and additional needs will make it easier for us to manage our financial expenses. It's just that we also have to think about our savings and investments too. In fact, we also have to make a budget for a reserve fund or emergency fund which we can collect slowly every time we get income.

When you start planning on budgeting first you have to set first your savings since it's the main base of your financing and the rest or half of your money depends on what are you going to do it's either you will invest to make it double or put up a business.

Good point, even husband tag as a provider it doesn't mean that he should only be the one that will shoulder everything,

a wife can help in terms of trying to find ways to earn extra, though it's not an obligation for the wife but it will
help the family in the situation like this, especially if you have kids that you both need to take care, expenses
against the salaries are really hard to budget, but with good combination or good understanding of the situation
family can continue to live as content and happy as they want.

If you take this step to save yourself from wastage of money, you will definitely be somewhat safe of your money. We often do a lot of things with excitement when we buy things that we want and leave them at different places later to no avail. We waste our money by buying all these things and throwing them in different places, so it is very important for us to be aware of this so that we do not have to waste money later. One must take 24 hours before purchasing an item so as not to overexert the item. When you have 24 hours to think about buying something, many thoughts come to mind and if you can live your life accordingly, you can avoid spending money. For those of us who spend a lot of money regularly, if we save that money, it will help us a lot in the future. And what money we use to buy things that we don't need in our daily life, but to invest that money in something that will be profitable. I think investing in crypto with the money of things that will not be of any use will give us a good profit in the future, and thus we can prevent spending our money.

The older, of course the more difficult it is to continue to live where the needs are increasing because of the development of the times, including having children and so on which is a burden of expenses, it is a fact and it cannot be denied.
But difficult does not mean you can't, you must have the ability and knowledge to how to position your budget, unexpected costs must be a concern and it must be in your budget.

The best way today to increase income is to work with a wife, if indeed your wife is not wise in talking about family finances I think she before marriage does not talk about finances with his wife so he must accept the fact that his wife could not be a friend in talking about finance who can only be acts to the husband who makes finances unable to manage well.

All these sites require you to be patient. Crypto investors or people who trade need to have several times more patience than a normal person. Anything can happen in the market at any time if we can't have maximum patience at that time but later good time will come but we can't enjoy that good time. If we find ourselves lacking in patience, we can do something different. As we invest or take trades we can spend the next time in some other way. If we don't have anything to do outside of all these tasks, we can pass the time by playing video games or hanging out with friends so that we don't have to worry about investing. If we can continue in this way for a few days, it will be seen that at some point we will have patience.

On what basis do you say these things to women? Are you married? And if you are married, who takes care of the children, who takes care of the housework for you? If you help your wife do those things, you can complain. Otherwise, if you just go to work and leave everything else to your wife, you are not qualified to criticize your wife.

I am a married man with 2 children, I agree with you that saving is really difficult, but if you have the courage of a man, it is not difficult to solve. And I've seen what my wife has to endure so I don't think women today are as lazy as you say.

I completely agree with you. It's really hard to save money these days especially if you're living in a developing country where everything is high cost and where your salary is not enough for a living. It's tough to manage your finances, if in the first place, you're only earning a meager salary. That is why we have to detach ourselves from the idea that men should only do the work, especially if you have children, you must work together with your wife in order to meet your expenses which will help you to avoid doing over expenses.

Just to add on this one, one of the things that I practice to avoid over expenses is I have a monthly expenses checklist which allows me to keep track on my expenses and helped me to keep everything organized as well.
 

I don't even like seeing a wife who works too much if she already has children and they are still very young, because small children still have to be taken care of by a mother and father. But it's different when the child is older, because the urge to spend will also be greater so a family needs more income for a stable life. And women also have to work to be able to meet every need that may increase when they start having additional members in their family, but personally I also don't like women who basically expect all problems to be solved by their husbands.

Because a husband sometimes also has limitations in solving all the problems that arise in his life, and because of this he also needs the help of a wife or family to solve every problem because most problems in the household start with the small amount of income that a husband can get. So every problem that arises in life will feel lighter if we solve it together.

Life is getting more difficult these days. Even if we are minimizing our expenses as much as possible we need another source of income aside from our regular paying jobs.

I believe that having children is a choice so people should also take it seriously. There should be a family plan before considering having a child.

I disagree that the majority of the women in this generation do not want to work. Maybe it is common in your place due to its traditions? Here in my country women just like men go to school and take their favorable degrees to build their careers. So most women here have regular jobs or businesses especially during this hard times.

It is tough to save money these days since there are too many bills to pay, and if you have children, how do they manage with all the expenses? It is not easy for everyone. You make plans, and then additional problems emerge from nowhere. If you have a good wife who manages money properly, you are fortunate. The majority of women in this generation do not want to work because all they worry about is the male addressing all of their problems, which causes the man to be unstable.

I mean if it's something that would yield you money anyway, even if it's just the prospect of earning money (except for gambling) I don't think the 24 hour rule even applies to this. Especially if it's time-sensitive like trading and investing.

I say that this 24 hour rule is only applicable to stuff that don't really yield you anything down the line, like the newest iPhone, the latest Playstation, or whatever you're planning to buy that wouldn't realistically yield you profits in the process. You have to think it through and decide whether you really want to buy it. if your mind remains unchanged even after a week (I use the 1-week rule) then go for it and buy it cause at least by then you could be sure that it's going to give you satisfaction/happiness.

On the other side of it, there are also instances that instead of saving your money, some people tend to use a credit card, meaning to say
that before they can have the money, there's already an obligation that needs to settle.

Things that also needed to avoid in terms of overspending your money, if possible to avoid
better not to deal with credit card, save and just go with what you need and what you like
principle.

Quite basic, and I think it is worthy of our concern to start managing finances from the basic things as you mentioned above, do not have to be in a hurry and perfect in managing personal finances because it will be boring in if you have a lot of pleasure and Waste in the financial world, slowly and apply one by one the target.
Because basically we also need to understand it before being handed over to our wife, and we can also control it.

But it seems that many of us do not care about managing finances let alone basic things, on average people are more focused on the size of income compared to the financial budget.