Topic: How to avoid over expenses and have discipline - page 6. (Read 2495 times)

What we need to understand first, we have to continue to train and build habits. One thing that can help realize this habit is that you have to have a dream. because to achieve your dreams you have to be disciplined. Many people complain "why can't I change" to me it's because they don't build habits.

It's not bad to give yourself some reward after all of the hard work that you do. But this is time that we become vulnerable because we think that we deserve a thing or two.
We're doing much for giving ourselves the reward we think we deserve and coming to the point that there's nothing left anymore from the savings that we have or from the salary that we have just received.
Not against to those people that always reward themselves but if you're looking into your situation, you still have to deal with some other days coming and that's why there's the term about saving for the rainy days.

Sometimes we people, even though we know what to do in managing our money to be budgeted, take care of it because we think that we have worked hard for it, so maybe it's not bad to give ourselves a gift. Sometimes we don't notice that we will also be affected in the end. Although we already know the guidelines that should be followed as given by the OP, it is up to us if we follow them. Which is also where we often don't use the discipline on ourselves, so the result is that we always fall short of our budget. This is the problem that, until now, the majority of the community has been facing here in the industry that we live in, the crypto space.

Do you know that no matter how you tried to set a budget must still encounter additional expenses why?
Because you can't predicts when you should be sound health or ill health, at this point if you expenses were calculated or brought out for the month and you removed all then keep the savings do you mean that you won't take care of your health or that of your wife and children?
No you must in as much you have already involved yourself in family way so you spend when you don't want to spend your money, and sees more problems comings either from your personal family or from your in-laws family's provided that you are married you must encounter expenses.

It is a good thing to do but it is easier said than done especially for those in the poor strata.
When they have a lot of money and get any kind of profit they will try to do it to be hedonistic first. The reason is simple, they have never tried it so when they get a lot of money or their fortune changes for the better they will try to satisfy themselves with what they have never done before.
There are many instances like this where their frenzy just makes it harder for themselves.

What we need to understand first, we have to continue to train and build habits.

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.

It has been proven a lot that if we save in the bank the value will definitely decrease, and when we invest, for example in buying land, in just two years the price has increased by 15%. However, it remains the main choice for all of us to invest in Bitcoin for a better future. So one way to avoid overspending is investing.

Accumulating money is not an effective way to protect the value of that money, therefore it is better to spend money to protect its value, just like investing, so that the money in our hands is only limited to supporting life's needs, and let the money we previously spent work. that way the value will not shrink and we will even make a profit in the long term. But to achieve this, of course we have to have knowledge before spending money in the right way

Typically, one's occupation tends to steer them toward diverse lifestyles. People often prioritize their social image over embracing a genuine life that aligns with their true needs.

I, too, have experienced being in such a position, where changing jobs to one with a higher salary does not necessarily lead to wealth, as long as we cannot control our lifestyle. Opting for a simple and balanced lifestyle is the wisest choice, where individuals need only enhance their attitude to earn respect from those they communicate with. Instead of amassing wealth to finance luxury items, it is better to cultivate courtesy and friendliness toward others. That is what will attract genuine friendships.

The wiser you become in managing your lifestyle and finances, the slowly but surely your economic situation will improve.

Sometimes we people, even though we know what to do in managing our money to be budgeted, take care of it because we think that we have worked hard for it, so maybe it's not bad to give ourselves a gift.

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.

Isn't it a natural cycle that should occur? Where the wealthy should promptly spend their money at stores or in the market so that money can continue to circulate for the benefit of others. If the rich were to save like the poor, the flow of money would slow down, causing economic imbalances. We are indeed taught to save and be frugal from a young age, but I believe that's circumstantial.

Wealthy individuals, please be generous, and those with fewer means, avoid greed. If the world operates in this manner, I am confident that everything will be just fine.

According to the title I don't think one who has lot of money can resist that temptation not to spend.
In as much as you try your possible best to control the way you throw cash on things just to leave a comfortable life you'll still have that crazy voice in your head say "you can still get it in less than 1 day".
To me I think is only those who knows how hard it is to get those funds are the ones who can have that discipline and avoid over spending, a poor man can't start spending cash lavishly knowing quite alright that it will take him like 3 months to get to that certain amount, like that's not possible for someone who doesn't have much.