Topic: How to spend money determines whether you can avoid unnecessary problems (Read 1445 times)

What must be considered in this case is not only focusing on financial management, but we must also think about getting an income that can cover all our needs. Because in my opinion if our income is getting bigger, it will be easier for us to manage our finances well. 
I am talking about this based on my experience, yes at that time I did not have a permanent job, only odd jobs whose income was uncertain. I saved a lot, and when I did it, it still created difficulties in my finances. But when I had a steady income with a larger amount than before, I was able to do better, although overall I was not as frugal as when my income was uncertain.

There is some truth in what you said but honestly, the rest is completely out of context. Restaurant and eatery are costly but we also have reasonably ones that sell good meals at cheaper rate, they don't hike the price of foods the way some do their own and they are even more healthier when you compare them to the ones with high prices. They are also in hirachy, eateries are bigger costlier than restaurant and restaurants are costlier than Buka; Eatery>>>Restaurant >>>Buka, in that manner.

The reason why you see people visit food places to buy food is not because they don't want to cook or doesn't have money or just showing off. The problem is that some people don't know how to cook, they have tried many times but it doesn't work because they are bad cook and has probably in their life never help their mom in the kitchen for once. Some people might want to cook but they don't have the time because imagine where you go to work from 6am to 6pm, it will be difficult to cook as an employed worker that is always busy from Monday to Saturday or even sunfdays.

You should also consider inflation, to buy food items to prepare a pot of soup might even be twice bigger than what you might even spend in restaurant, it's not "might", buying food right now to eat is more economical for a single person, but if you are married, then I think it's okay to consider cooking because it's better and economical to cook than buy food for 4 people.

If there are problems, then all we needed is money to be used in solving some of these problems, if we don't have money, we will be so worried that it was in the absence of money that we are not having the problems solved, also it could be in such a way that we have money and yet such couldn't make any difference to what we are facing, but we must spend our money wisely and utilize them for what are needed and not our wants.

The key to becoming rich nowadays is actually to live a frugal life, many people become poor because they are not able to manage their money well, they even buy things they don't need, they become very wasteful and all the things they own end up being trash. living frugally means you use the money you get very wisely, in fact you become very economical and only buy things you really need. don't like flexing - don't like buying things that are not important - read more - invest more, you will definitely become truly rich (not just looking rich on social media)

It's ridiculous that people act like they're living in luxury just to show off to each other. I think it's pathetic that one side of the world is struggling to find food while the other side is showing off with food. The mental health of these people is not normal.

Unfortunately, nowadays there are many people who are satisfied by showing off to others, but in reality their financial situation is not good. A person should not be ashamed of his financial situation and should avoid unnecessary ostentation. Misuse of social media sets a bad example for young people. It's not right to portray showing off as a good thing.

They are doing something ridiculous if they only show off the luxury of eating in VIP class restaurants when financial conditions are critical, this tradition is maintained by luxury crazy people to always want to be recognized as rich, but actually no one cares about your activities, so stop being irrational because they do this without their financial support. We have to change our mindset to set financial priorities for the future, as you said, we must have savings rather than buying purchases that are not needed for the long term, if we have savings it will be useful for future financial needs and emergency needs that require funds at any time .

Now we are alive and tomorrow we must live, now we have to eat and tomorrow we need to eat, and now we have to fulfill our daily needs and tomorrow it will be the same. So, to maintain continuity, we are required to continue to be strong so that we always have resources to survive, but this alone is not enough. Apart from having to have an income, we are also required to be able to manage the finances we get well, so that what we need can be fulfilled and what we want and what we aspire to can be achieved.

With good financial management, this will help and make it easier for us to plan our future needs. And with good financial management, we will easily predict the amount of expenditure needed in the future. So, with good financial management, we can not only guarantee our lives now, but in the future, God willing, it will also be guaranteed.

   There must be an expense for every income made. Now these expenses covers both necessary and unnecessary items, wants and needs in the level of their urgency. One thing to note is that we don't just spend money without thinking first. Do your best to weigh the options, a number of unnecessary needs may arise and we shouldn't just jump into getting them solved because the money is there at that moment, we may not be able to predict if there'll be a greater need of that said money in the shortest possible time. Yes the money may be excess but thinking before spending will go a long way to reducing wasteful spending.
  There are processes to be followed in spending, make the greatest need or want as priority, never also forget to keep aside miscellaneous cash. In some situations we may not be earning enough to do all these divisions, but we can as well be careful of the extravagances. The best solution to being careful is saving. If you're scared of spending unnecessarily, it's advised that you save it instead against rainy days. There are some issues that can be overlooked or that won't necessarily require heavy financial assistance to solving, we could look for varying ways to prefer solution to that need at that moment, sometimes it may be cravings or not. At the same time, the way at which we're cautious in spending, we won't be able to allow unwholesome occurrences that may turn out to eat into our pocket to affect us.

It's not surprising to see people like that in life, because I've also seen people who live well enough and don't like to show off anything they've got. Even though in their own environment such people are not said to be rich, even though it is people like that who should be worthy of being said to be rich. Because people like that are usually more grateful for what they have and don't want to incur debt in any form in order to look luxurious in front of other people. Although they also think about making money as usual, although they don't seem to think about it too much.

It is true that managing finances is very important for daily survival, even in the future, everyone must have a little savings because savings can be used as bailout funds if we need money.
Avoid consumptive shopping as you mentioned, such as joining a gym, and the like should be avoided
but currently the exchange rate of money is really worthless where the money we usually spend can cover living expenses for 1-2 days but now it can only last for 1 day no  more, because everything is expensive

If people just to fancy anf luxury restaurant to eat food when they are not well financially buoyant their is no wisdom in such lifestyle,  I just see this as a burden. Nobody even cares about what you eat, it is wrong for people to spend all they have in fancy restaurants on food just to prove to people that they are capable of affording it.

When it comes to food people can still go for healthy food and affordable which won't make them to spend much , but also save for the next day. No need to rush life to try to reach the height one haven't reached.

I see absolutely no good financial management with those you have told me about, even though basically they have a pretty good ability in terms of finance but if they are too excessive in allocating money for luxuries that are basically not too important then obviously it is a real waste, there is no potential for any development of the money they have lost. Basically, even if they are one of the rich people, it is still like I said that it is an action that is not recommended to do, especially if their finances are mediocre or even below average.

So let's think logically, it's not going to matter anyway, or I mean you're not going to get any real benefit other than the thrill of the fact that other people know you're living a life of luxury, but if it's creating or causing a lot of problems in your life and your finances, it's definitely a problem that shouldn't be happening. So yes, it's better to allocate your money to something more important, if it's about food you can also buy ingredients at the market and cook them at home to eat with your family, it will save more, and it's better to put the rest of your money, save it to be used as an emergency fund in the future, it's better.

these people definitely do it for clout but i also truly believe that some really live their lives this way most likely they grew up rich without having the need to worry about finances that’s why they don’t really think of the possible consequences or feel any kind of financial insecurity

on the other hand, i know some people who are really well-off but are still humble and not showy you can still tell they’re definitely rich but it’s rare for you to see them spending on expensive unnecessary things

yeah that sometime a show of bad practice in managing their own financial management, going to luxury place just because they want to not because it won't scratch their finance even if they doing it.
there 's some saying about this, "everyone is rich in social media until you go hang out with them." it kinda speaks a lot about the current condition of most of people who also try to be popular in social media, a bad financial management practice disguising as luxury lifestyle.
the only real thing is when we are gaining more and more money to the point where we can be spending thousand of dollars without having to bat an eye in a day and will still be fine for decades to come, thats when i think we can be called rich enough, otherwise as have stated earlier, such bad financial management practice would only result in unnecessary problems, a problem that shouldn't be here in the first place if we are conscious enough that maybe we can't afford something.

Most times, the ones who go to fancy and luxury restaurants, bars, etc, are always broke. They do it just ti show off (showing off what they do not have and may never have). Someone who is economical will know very well that cooking and eating at home will save money, sometimes you can pick a lower quality of what you want to get, just because you’re being economical and trying to cover everything you need to.

The question is, does financial management only apply to the people you refer to who are employed around the world? Isn't it? If you are an employed person and you know how to handle the money you earn, no matter how expert you are in handling it, if we ourselves can't discipline ourselves, we're sure you'll be really poor because we spend on things we shouldn't.

And if there are other employees who do that, drink at Starbucks, and enjoy themselves in bars or discos, this is their way to enjoy their lives, and they may reward them for their hard work, and we can't do anything about it because it's their choice, so the consequences will be the ones they will experience for sure and not us.

OP, firstly I am exempted from this list of individuals you mentioned here, but the truth is that these people have made this a habit, trying to advise them, will make you look like, you making decisions for them, people has cultivated that habit of caring less about savings but when they have finally squandered all their finances or go broke they will turn to multinational speakers overnight, despite that there is a saying work without play makes jack a dull boy, this statement didn't direct people to start misbehaving, we should be careful of what we do with our money, let's not allow what we do to control us, this can lead us to regret if we don't do something early, be discipline, don't spend more than you get, in every income of yours make sure you save.

This goes to show us how financial intelligence and discipline is very important, because without it we'll be complaining at the end of every month. The best approach is to create a budget on how to spend a fixed income and have discipline to stick to it. Without a budget the person might be spending on unnecessary things, which before payday he'll probably be going into dept. And when  income fixed is not even enough for the individual in a month, how will he be able to repay loan, and chances are that the person will keep increasing dept. So financial education is very important for any middle income earner that wants to manage their income well, without running into avoidable depbts.

Making budget for the month's expenditure doesn't mean that ostentatious spendings should be included, people in middle class category can deny themselves of certain luxuries in order not to run into dept that'll become a problem for the them. Although an income earner or someone that makes small income can save towards giving themselves treats once in a while, because all work and no enjoyment is not good for the body. So financial intelligence is the key, backed by discipline to achieving it.

i see your point and most likely people who have this kind of lifestyle are exaggerating the fact that they have no money so we are in no position to judge them

however i also see op’s point a lot of people often just want to brag on social media it doesn’t matter if they’re not able to pay some bills as long as they have the recent model of iphone so while i do believe that we should be able to spend some money on ourselves, family and friends we should also know when to do that and how to do that responsibly

I don't believe that having a coffee every morning going on a date with a girl, drinking in a bar and so on are unnecessary actions done to waste money. But it's a part of stress release, enjoyment, etc. Why should we earn money if we can't spend it? You can't judge their life by spending their own money. Spending money is not a bad idea, but spending lavishly is. When we have control over our spending and are aware of where we are spending, then it's controlled spending. Spending on luxury items, great food, and enjoying things is not unnecessary in life. It's part of our lifestyles, and one's necessary is another's unnecessary, so simply put, it's not our business what they are spending on.