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Topic: How to spend money determines whether you can avoid unnecessary problems - page 7. (Read 1417 times)

legendary
Activity: 2716
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.
Changing bad habits to be good is not an easy thing for everyone, moreover these bad habits have made everyone more comfortable to do every day. But you also need to know more other reasons why some people are still doing this now, because I think everyone is sure to spend their money where they need it even though you see they are not wise in managing their finances.

Even though everyone who has managed their finances wisely also does not tell other people in their life. So don't judge too quickly on this because you still need a more in-depth analysis so you can find out more reasons for everyone in terms of spending money.
hero member
Activity: 1750
Merit: 589
True. I've experienced it myself, I'm a pretty extravagant spender when you consider the fact that my pay grade is a little over the lower middle income class. Which oftentimes lead me to lose money in the middle of the month, sometimes even from expenses that I couldn't backtrack for the life of me, that almost always leads me to borrow from my investments just to get by. Honestly speaking I haven't gotten out of this cycle just yet but the I'm slowly getting the hang of budgeting and keeping track of my monthly expenses. One thing I do notice though is how everything gets more expensive over time, possibly due to the effects of inflation, so simple budgeting and tracking of expenses wouldn't cut it, you have to have a pretty extensive grasp of financial literacy in order to understand and apply it on a fundamental level.
sr. member
Activity: 1008
Merit: 366
It's their personal life, so they can choose on how to live it. But it is always a good idea to spend money in such way that we could avoid problems in the future. You said, you don't want to talk about poor and rich, but I think when it comes to spending money in a way so that we could avoid problems comes to the point of one being poor or rich. We have the mindset to think that the rich spend money carelessly. But the truth is, they are rich because they know how to earn them back. But poor people are trying hard to ensure a rich lifestyle, while spending more and creating problem themselves and forget to enjoy the life they already got. If we are happy in our own lifestyle, we can avoid such problems.
legendary
Activity: 2044
Merit: 1075
Leading Crypto Sports Betting & Casino Platform
Today I had to go to a funeral, it wasn't anyone I know and I was just there for my parents because it was someone who knows someone who knew the person that passed away, so basically very distant from me.

However, afterwards I realized that I haven't been out in a very long time, not for any fun reasons, I had been out for funerals, my dog passing away, hospitals, but it has been literally over 3 months since I have been out for fun, last time was new years celebration. So, myself and my spouse went out for a good breakfast on a good place and spent the money that we didn't even have. Bad financial decision, but I can't explain to you how much it helped me with morale, it really gave me a boost.

Now I feel much fresher and better. Sometimes you HAVE TO spend unnecessary amounts of money, to keep your mental health up.
hero member
Activity: 1288
Merit: 564
Bitcoin makes the world go 🔃
Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.
Everyone should be open minded in the idea of saving and investing, we are now in generation that it’s easier to finds ways how and where to invest. We must know where to focus ourselves with. Plan ahead before spending. I suggest to read books to get motivated as well keep yourself in focus of the goal wanted. There are more ways to earn now thru online we just need to find what suit our interest best so we can enjoy what we’re doin it can be in online job, trading crypto, or online business selling.
sr. member
Activity: 812
Merit: 254
Leading Crypto Sports Betting & Casino Platform
Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.
We cannot deny that extravagance is one of the causes of distress, spending money only for something that is not effective, of course, will only trouble ourselves because little by little our money will be drained, even though we have a steady income but no good management in managing finance of course the money will only be wasted, I think many people who are rich today start from their habit of living frugally and using money only for important purposes, while poverty certainly cannot be kept away from the effects of extravagant living, it is very important for us to be able to manage finances as well as possible even though at least it won't make us rich but there won't be any trouble if an emergency ever befalls our economy.
full member
Activity: 812
Merit: 108
When it comes to spending money, it is not at all easy. It takes a lot of discipline to manage spending and to distinguish between needs and wants. I learned something very important that explains why saving money is so crucial: it gives you something to fall back on. Many people complain that their income is insufficient for their needs, but this is often due to poor money management. When we consider it, our income cannot support our standard of living.
Totally agree with your point. There is a saying that "Making money but not keeping it" is a bad thing that will affect your life, health, financial difficulties in the future if you do not calculate and save properly. At any time, always set a dedicated savings budget (additional investment capital, health care, risks from life such as illness, accident,...) Especially for the economic downturn. The economy is accompanied by ongoing hyperinflation, if spending is not planned, it will certainly affect the future.
hero member
Activity: 1484
Merit: 800
Leading Crypto Sports Betting & Casino Platform
Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.
Everyone must have a pattern of managing their financial resources, as much as possible to save and manage money in the process of life, not all money is used for investment and store gold because there are basic needs that must be fulfilled for their families. Therefore there are a number of things that must be considered in managing better finances, so as not to put us in financial difficulties.

Investment and storing gold are two good things to do, but also must be considered the level of income and expenses to take the approach of both, so that there is a balance between investment and daily needs.
hero member
Activity: 1106
Merit: 912
Not Your Keys, Not Your Bitcoin

Please let me clarify first: anyone who is extremely poor or wealthy is not included in this discussion. Only those who are employed with steady income, some savings and spare time will find this topic useful. I guess most of us are doing fine now but financially we have to face one common problem: how to spend money.  This issue leads to many consequences if not handled properly. Here I would not start any broad and subjective agruement. To deliver my message clearly, I am using some specific examples to elaborate. For example, a lot of peole complain that their income is not enough to cover their daily expenses so they can't save much money while...they spend seven bucks on a cup of coffee almost every morning, throw a hundred dollars on some gym membership cards but never show up training, have dinner with some random girl in an expensive restaurant, buy drinks in bars and waste hundreds of dollars... The list goes on and on. If you live this kind of lifestyle and at the end of months, you are running out of money or can't pay the mortgages, whose fault is this ? I can not provide any statisitics but I am sure that many people have fallen in the trap and can not get out.  I hope you are not one of them.

This is simple and I will make it easy for you to comprehend. Just because you like to stay indoors doesn't mean I'm equally introverted, I could be an extrovert that wouldn't want to stay home. Again, because I love taking bear and hanging out doesn't mean you have to be like me. It is all choices even if we earn the same amount of money, all life without fun is doesn't make sense, but we have to do it moderately but saying because my source of income is never enough should limit my way of life totally is out of debates, I will save and spend flamboyantly but it doesn't mean I must suffer it.
sr. member
Activity: 1428
Merit: 252
Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.
sr. member
Activity: 574
Merit: 310
Certainly, if you did not plan your spending, you are going to have a big financial disaster. An average income earner should always have a plan on his or her spending. Spending money unnecessarily is not neccessary. You should always draw your scale of preference. What you want and what you need are two different things. For instance,  you may want to celebrate your birthday in a private jet, you may want to wear the most eapensive cloth and shoe to a friends party, but you cant afford to buy them. Are you going to spend all your savings  because you want to show off? No. You dont need to. So you have to cut your coat according to your size. And you shouldn't compete with friends with higher income. Always know what you need at a particular time to avoide financial breakdown.
legendary
Activity: 2716
Merit: 1225
Once a man, twice a child!
a lot of peole complain that their income is not enough to cover their daily expenses so they can't save much money while...they spend seven bucks on a cup of coffee almost every morning, throw a hundred dollars on some gym membership cards but never show up training, have dinner with some random girl in an expensive restaurant, buy drinks in bars and waste hundreds of dollars...
Those who behave in such manner shouldn't be taken any seriously when they complain of financial lack. It's stupidity in itself to fret away one's meagre resources just to sound big and relevant.

Quote
I can not provide any statisitics but I am sure that many people have fallen in the trap and can not get out.  I hope you are not one of them.
So true. I once walked into a restaurant a few years ago to have lunch and a dude there ordered extra pieces of meat for his meal but didn't eat any. He ate the normal meal without picking the extra. Dude paid and left. I was really spooked (so to say) on the day. I saw it as an unnecessary childish behaviour. Till date I see such pattern and people seeking validation through it.
hero member
Activity: 2730
Merit: 632
What the OP is talking about is someone who spends more money on fun or things that are not really needed. And of course this type of person is the type of person who is called a waste.

people who often commit extravagance are those who are not good at managing finances and those who tend to prioritize wants over needs. And. of course everyone who has mature and logical thinking will not do this without needing to be reminded by someone.

because if we think logically (common sense) then of course we will know how to spend our money to be more effective. Recognizing which types of needs and which types of desires are actually not needed is a basic thought that we must have.
It would always correlate with wants and needs. I once saw a video about how people couldn't save money due to increase of salary = change of lifetsyle. Like it or not, there will be people who will it this way, increase on income resulting to increase of expenses, which is not healthy and it would be a huge habitual problem. If you think about it carefully, there is no problem increasing expenses if those spendings are intended for a good cause (needs), but there're people who do this just to support their wants, and I've seen a lot of this people, from distant relatives to some of my acquintances, and of course I'd be hesitating telling them it's a bad habit, coz in the end, I'll become the antagonist they would just tell me to mind my own business.
Actually this is really based up on real or true experience about having those increase of earnings or salary = increase in lifestyle on which you would really be ending up with that kind of path on which you would really be having a hard time on handling up specially when your expenses is already that soaring up high which it would really be putting you in big trouble in case if you dont able to handle it well or didnt really be able to stop
it.You should really be needing to level up everything if you dont like on having a messed up finances then its better to make yourself that be prepared
and having that proper planning.
sr. member
Activity: 588
Merit: 351
What the OP is talking about is someone who spends more money on fun or things that are not really needed. And of course this type of person is the type of person who is called a waste.

people who often commit extravagance are those who are not good at managing finances and those who tend to prioritize wants over needs. And. of course everyone who has mature and logical thinking will not do this without needing to be reminded by someone.

because if we think logically (common sense) then of course we will know how to spend our money to be more effective. Recognizing which types of needs and which types of desires are actually not needed is a basic thought that we must have.
It would always correlate with wants and needs. I once saw a video about how people couldn't save money due to increase of salary = change of lifetsyle. Like it or not, there will be people who will it this way, increase on income resulting to increase of expenses, which is not healthy and it would be a huge habitual problem. If you think about it carefully, there is no problem increasing expenses if those spendings are intended for a good cause (needs), but there're people who do this just to support their wants, and I've seen a lot of this people, from distant relatives to some of my acquintances, and of course I'd be hesitating telling them it's a bad habit, coz in the end, I'll become the antagonist they would just tell me to mind my own business.
legendary
Activity: 2688
Merit: 1192

Please let me clarify first: anyone who is extremely poor or wealthy is not included in this discussion. Only those who are employed with steady income, some savings and spare time will find this topic useful. I guess most of us are doing fine now but financially we have to face one common problem: how to spend money.  This issue leads to many consequences if not handled properly. Here I would not start any broad and subjective agruement. To deliver my message clearly, I am using some specific examples to elaborate. For example, a lot of peole complain that their income is not enough to cover their daily expenses so they can't save much money while...they spend seven bucks on a cup of coffee almost every morning, throw a hundred dollars on some gym membership cards but never show up training, have dinner with some random girl in an expensive restaurant, buy drinks in bars and waste hundreds of dollars... The list goes on and on. If you live this kind of lifestyle and at the end of months, you are running out of money or can't pay the mortgages, whose fault is this ? I can not provide any statisitics but I am sure that many people have fallen in the trap and can not get out.  I hope you are not one of them.

What I've noticed over time is that a lot of people claim they want freedom and to do many things in life, but they are extremely wasteful with one of the most important assets we get - money. They say they want to learn more about finance when you discuss it, but never take any solid steps or even attempt these things out of fear. Maybe they got burned by one particular stock, because they were being too greedy and chasing the wrong strategy in the past. Maybe they are happy with 2% from a bank account at very low risk, but should be earning 6-7% minimum from basic investing. Others are simply far too wasteful with money and unwilling to change their habits to ever succeed in it.
hero member
Activity: 2170
Merit: 530
When it comes to spending money, it is not at all easy. It takes a lot of discipline to manage spending and to distinguish between needs and wants. I learned something very important that explains why saving money is so crucial: it gives you something to fall back on. Many people complain that their income is insufficient for their needs, but this is often due to poor money management. When we consider it, our income cannot support our standard of living.
I totally agree with you, it's been  a month since I decided to save some money from my salary, each cut off I will try to save around 15% of it, now I stop getting some money for school  preparation, I am willing to stop saving just to for the sake of our sons, it is really have to save if you have a limited resources and you're salary is just good enough for your family needs. Even though I want to save but the universe doesn't allowed me for now.
hero member
Activity: 1428
Merit: 653
Leading Crypto Sports Betting & Casino Platform
I believe most people are birth with silver spoon and most of them their parents have made way for them even if they don't work their father or mother investment (Company) will keep them going and for that they don't care how about their spendings and lifestyle. But I must say the truth that isn't the right way to train a child simply because you are wealthy doesn't mean your children shouldn't know anything about life or how to startup life whenever their parents are not there for them.
sr. member
Activity: 1974
Merit: 450

Please let me clarify first: anyone who is extremely poor or wealthy is not included in this discussion. Only those who are employed with steady income, some savings and spare time will find this topic useful. I guess most of us are doing fine now but financially we have to face one common problem: how to spend money.  This issue leads to many consequences if not handled properly. Here I would not start any broad and subjective agruement. To deliver my message clearly, I am using some specific examples to elaborate. For example, a lot of peole complain that their income is not enough to cover their daily expenses so they can't save much money while...they spend seven bucks on a cup of coffee almost every morning, throw a hundred dollars on some gym membership cards but never show up training, have dinner with some random girl in an expensive restaurant, buy drinks in bars and waste hundreds of dollars... The list goes on and on. If you live this kind of lifestyle and at the end of months, you are running out of money or can't pay the mortgages, whose fault is this ? I can not provide any statisitics but I am sure that many people have fallen in the trap and can not get out.  I hope you are not one of them.
So here it is important to manage needs and wants with existing income, actions like that are stupid things and when viewed in their nature they are just for fun, people who are aware of situations like this will take better care of their money and reduce expenses, especially in conditions In the current economy, I find it quite difficult to earn money. Maybe not everyone can give up such activities directly. If there are indeed people who are trapped in such conditions, they must immediately reduce activities that are detrimental and make us dizzy at the end of the month.
hero member
Activity: 3066
Merit: 629
Vave.com - Crypto Casino
What the OP is talking about is someone who spends more money on fun or things that are not really needed. And of course this type of person is the type of person who is called a waste.

people who often commit extravagance are those who are not good at managing finances and those who tend to prioritize wants over needs. And. of course everyone who has mature and logical thinking will not do this without needing to be reminded by someone.

because if we think logically (common sense) then of course we will know how to spend our money to be more effective. Recognizing which types of needs and which types of desires are actually not needed is a basic thought that we must have.
Those that have experienced being poor and got nothing, they'll spend their money wisely and not on the things that they don't really need. Life is too hard these days whether you're from a first or third-world country, every region has got their hardships dealing with the situation of their economies and living status. That's why someone who spends on extravagant things and it's solely their money and has got no other money in savings and as well as investments, they're just YOLOing with their lives. Whether you're living well or not right now, we need to be intelligent with our expenditures and we need to live within our means.
hero member
Activity: 1862
Merit: 601
The Martian Child
This is a common problem not limited to just a few but a lot. I even had this borrower that was not able to pay me. She gave me a lot of garbage excuses and the worst one is she had no extra money that time because she spent it with her and her daughters at a facial beauty clinic. I was so mad that I didn't respond in order to control myself and never made a contact with her again. My father bought the loan and I have no news if he was able to collect it. I don't understand these people. Another one also failed to pay me because he bought a new mobile phone which is not really needed knowing he's got a phone already. That guy never paid me. In my life, I probably lost thousands of dollars already worth of unpaid debts and that includes 1 bitcoin in late 2017. The guy purchased a brand-new SUV. That guy blocked me already including her wife on social media.

Most people are driven by money, greed, and luxurious ambitions but are not working to achieve them fairly.   
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