Topic: I am forgetting the value of money. - page 2. (Read 364 times)
Don't stress about it too much; it doesn't lead anywhere. You made a purchase to help yourself, and sometimes it's necessary to take a break from time to time. However, if you catch yourself resorting to unnecessary purchases even though you're struggling financially, then you need to step up your game and better manage your finances. You ought to be saving a portion of your salary towards an emergency fund and, if possible, investing, which is likely to lead to a potential source of income in the future. If you're lower-class, then it's likely you cannot afford to invest, but at least try to avoid unnecessary expenditures and build yourself a savings account.
We all should respect money. If you don't respect money, you have to go ahead and face many dangers. You should understand your needs well, then spend. Money is a very valuable resource. It is not a wasteful thing. You should spend on the resources you need. There are many people around us whose $5 is 7 days worth of food. We should all be frugal, but we can't ignore entertainment. Entertainment is very necessary in everyone's life. If you have enough capacity then you can spend for entertainment. But it must be within your financial capacity. If your income is 100$ then surely you cannot spend 50$ for entertainment. From 100$ you 5$ can be used for entertainment.
What can I do to remember the importance of money and spend more carefully?
Make your social media news feed flooded with news about the economy and watch documentaries about poverty. You'll be shaken up by things you see and will make you thankful for your current situation and not spend on useless things. One of the reasons for our impulsive spending is our emotions which derive from what we see on social media. We want what we see even impractical things, but if you are watching videos that have knowledge you can get on and not those toxic people bragging about their stuff you will be awakened by the reality that others struggle to earn it but here you are spending it on irrelevant things.
In order to feel the pain of the other, you need to go through that same pain. If you are never hungry once in your life, you will never know how it feels to be hungry. So the importance of money could only be realized when you have none. Set aside all your money and then try to live your daily life. If you can manage to go through that, then you will know how it feels and how important money is. As everyone said, "You never know until you try it."
People only tend to value food once they have suffered through the pain of hunger. Everything works the same way. You can never understand the importance of something unless you lose it. Try to limit your spending to only things that you need. Everyone has their own type of hobbies, but some of them doesn't worth spending money. Only spend when it is necessary. You could also set a strict budget that will help you go through your expenses and will also help you save money. Here is a trick to do it. Every time you are doing something like saving money, count from 5-4-3-2-1 and then just do the work. If you don't do that after the countdown is done, then the idea kills itself. So make sure you do what you are trying to do after the countdown is over. You should start immediately.
People only tend to value food once they have suffered through the pain of hunger. Everything works the same way. You can never understand the importance of something unless you lose it. Try to limit your spending to only things that you need. Everyone has their own type of hobbies, but some of them doesn't worth spending money. Only spend when it is necessary. You could also set a strict budget that will help you go through your expenses and will also help you save money. Here is a trick to do it. Every time you are doing something like saving money, count from 5-4-3-2-1 and then just do the work. If you don't do that after the countdown is done, then the idea kills itself. So make sure you do what you are trying to do after the countdown is over. You should start immediately.
There are trillions of dollars in circulation now. Note that it is only the dollar… there are also euros, pounds etc… hundreds of thousands of billions and billions… The central banks printed so much money, the inequality between the rich and the poor became huge. Do you know what’s the minimum wage in Eastern Europe? It is around $500. Imagine there are people in Europe, which is one of the most prosperous continent in the world, have to live a life with $500/month. And then there are people who spend $500 for something silly without blinking an eye (could be a lunch, hookers whatever you name it) For some people $10k is big money, for some others it is just what they make in a week (passively)
That typically happens when money earned is not deserved. When we earn from our good work, we spend prudently. If the work is not good or well done, it's a sign the worker does not deserve the right wage as it will likely be spent wrongly.
A worker who does his work well in a good business/job will be wise enough to spend money earned from it prudently.
People should do good works and be paid what they deserve if a society wants more prudent spenders. Before you pay your employees make sure they have done their works right. And this will require the use of Proof of Work before rewards are given... It will make people work harder. The best place this could be practiced is on decentralized and trustless system like Bitcoin where proof of work is required before reward is given. If you could develop a "Workers System" that is according to Bitcoin principles and ask the workers to develop faultless solutions to a given problem... And everyone is free to review each other's work for issues. The solutions with the least issues get more rewards...The consensus method for reviewing each other's work is Proof of Work. If done right, people will most likely earn what they deserve. And the money earned would be well spent.
A worker who does his work well in a good business/job will be wise enough to spend money earned from it prudently.
People should do good works and be paid what they deserve if a society wants more prudent spenders. Before you pay your employees make sure they have done their works right. And this will require the use of Proof of Work before rewards are given... It will make people work harder. The best place this could be practiced is on decentralized and trustless system like Bitcoin where proof of work is required before reward is given. If you could develop a "Workers System" that is according to Bitcoin principles and ask the workers to develop faultless solutions to a given problem... And everyone is free to review each other's work for issues. The solutions with the least issues get more rewards...The consensus method for reviewing each other's work is Proof of Work. If done right, people will most likely earn what they deserve. And the money earned would be well spent.
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I think this happened to me when I was suddenly able to receive pretty big money in a constant 2 months or so? It really pushed my sense of money off, to the point where even after I stopped receiving that amount, my mindset was still along the lines of "oh, I should buy this, probably can" when it's way out of budget. I think the best method was to, well, just manage it properly. For me that first experience enabled me to adapt the next time it happened (when I entered the workforce). It also helped that after that, well, I started paying bills, food budget and stuff like that. I had to manage my money (the first time, well, I didn't). 
This realization struck me when I observed a lower middle-class woman desperately asking to borrow less than $1 for nearly 10 minutes, enduring shameful comments from the shop owner. She needed to borrow this money because her husband wasn't earning anything, and their financial situation was such that they didn't have the luxury of saving; they earned daily and spent daily.
What can I do to remember the importance of money and spend more carefully?
Without going into the religious talks, I will simply say, level up your standard when you start to earn more and try not to forget to help those who are in need. If you saw that woman begging for 1$ then you should help her with $10 because God has given you the money. What can I do to remember the importance of money and spend more carefully?
In our religion, we have this belief that we are not being tested by God when we are poor, instead, we are being tested by God when we are given wealth or fame. So, in our ups, we have to help other and remember what we were and from where our God/creator has taken us.
Try to increase your morale by following good norms.
I've begun to realize that I may be losing touch with the value of money due to exposure to the vast sums and high salaries of people online. In the past, when I had no access to the internet and a phone, I used to carefully save every cent and think twice before spending just $1. However, now I find myself spending more without a second thought.
The internet makes the world a global village but we still live in different worlds. You have to understand that these different worlds have different economies and standards of living. I cannot spend like an American even if I share the same platform with them because they earn far better than me. I might be in a global space via the internet but I spend like a citizen of a developing nation. Quote
This realization struck me when I observed a lower middle-class woman desperately asking to borrow less than $1 for nearly 10 minutes, enduring shameful comments from the shop owner. She needed to borrow this money because her husband wasn't earning anything, and their financial situation was such that they didn't have the luxury of saving; they earned daily and spent daily.
What can I do to remember the importance of money and spend more carefully?
Nobody will teach you the importance of money if you suffer hunger or lack due to imprudent spending. You should know that you need a budget that covers your expenses and also have provisions for savings. No amount is worthless if you can keep it consistently for a long time. If cigarette smokers can save what they spend, they will have good sums at the end of the month. What can I do to remember the importance of money and spend more carefully?
Each person determines the value of money according to his own financial situation and not based on the general financial situation. If you can buy a song on the Internet for $10, it can never be said that you have wasted a fortune because other people receive that $10 as a monthly salary in exchange for working 8 hours a day. Individual income rates vary from one country to another and from the capabilities of each person to another. At the same time, I cannot advise you to spend wisely because the concept of wise spending varies from one person to another as well.
You have to remember the value of money and you have to realize how difficult it is to earn money. You can easily spend more than $5 in just 5 minutes, but you can't get replacement money in just 10 minutes.
Do experiments around your life, you will find the answer. Your friends will always have time to laugh with you as long as you are able to treat them to food and drink, but when you ask them for a loan, some of them will say "sorry, I don't have any money".
It needs to be underlined, money doesn't have legs to walk to your wallet on its own, that's why you have to work hard to get it. So, you need to be careful in spending it.
The expression you said is a fact that occurs very often in everyone's life and maybe including in your life too. Because I have also encountered things like that through my life so there is only one option, namely working hard to be able to call money into our own wallet. And another logical thing you say is that money will not come by itself if we don't make our own efforts in looking for it, but spending it will always be easy so there needs to be deeper consideration when we spend it because getting it will not be as easy as spending it. Do experiments around your life, you will find the answer. Your friends will always have time to laugh with you as long as you are able to treat them to food and drink, but when you ask them for a loan, some of them will say "sorry, I don't have any money".
It needs to be underlined, money doesn't have legs to walk to your wallet on its own, that's why you have to work hard to get it. So, you need to be careful in spending it.
What can I do to remember the importance of money and spend more carefully?
If I were you, I would take a different approach. If you are earning well above your country's average income, don't forget to save and invest, thus increasing your net worth. Also have an emergency fund, and once you have all this, spend part of your money on consumption or entertainment and use the other part for donations. Imagine if you had taken out a $5 or $10 bill and given it to that woman who was asking to borrow $1, you would have given it to her.
That way you will improve your net worth and help others, always being aware of what money is worth.
What can I do to remember the importance of money and spend more carefully?
Plan your weekly or monthly spending, and buy only what is necessary. In case you cannot control your spending when you have money in hand. I think it's best to invest the majority of your income in long-term assets, which is what I'm doing to limit wasteful spending. Because sometimes we won't be able to control our waste when we have too much money in hand.
There are many people out there who are struggling but life is like that, when we have a lot of money we will consider the value of money very low and it is very difficult to get rid of that mindset without any planning or discipline.
This is the reason why most of people can't become rich, when someone salary is increased, they tend to spend as much as the salary they earn.
You need to learn about frugal living, when you want to buy something, don't directly buy it. Try to wait for few days or week, then remember back do you really need it or not? if you not have any problem without buy that thing, you shouldn't buy it because you're just want to fulfill your desire, not your needs.
You need to learn about frugal living, when you want to buy something, don't directly buy it. Try to wait for few days or week, then remember back do you really need it or not? if you not have any problem without buy that thing, you shouldn't buy it because you're just want to fulfill your desire, not your needs.
And you think this will be very easy or possible? You can be frugal as you want but I don't think it will be possible for someone to continue living in their old condition prior to the increment of their salary. Remember that your salary can not just increase unless your task increase as well. Meaning as you begin to earn more, you must work more. Consequently, you need to spend more to keep good care of yourself by eating enough healthy foods and proper health care to keep you strong so you can do more work to earn more money efficiently.
It's not possible for all to become rich and limiting yourself to average lifestyle by not spending enough when you have the means is wickedness to self and stinginess. It won't make you rich either. What matters is to not try to compete with people that earn more than you do to spend above your worth or spend extravagantly. Be financial conscious all the time.
Yet today people keep wasting money to subscribe to Netflix to waste more time watching movies. $20 for a premium plan every month.
The financial situation will get worse as more are jobless while companies are going bankrupt. Everywhere in the world is not working well, people now have been trying to make it with 2 to 3 jobs at the same time to make ends meet while they start getting used to having 2 meals a day.
The financial situation will get worse as more are jobless while companies are going bankrupt. Everywhere in the world is not working well, people now have been trying to make it with 2 to 3 jobs at the same time to make ends meet while they start getting used to having 2 meals a day.
One thing that I always like to suggest is to set a budget for yourself and stick to it. Keep track of all your expenses no matter how small they may be. This can help you in monitoring your spending habits and increasing your awareness of where your money is going. Another excellent idea is to practice delayed gratification. When you have the urge to make a purchase take a day or two to contemplate whether it's something you genuinely need or simply a passing impulse. However don't be overly harsh, on yourself if you occasionally make mistakes. Striking a balance, between enjoying life and maintaining responsibility is crucial.
In my country, even $5 is considered a reasonable amount for the lower middle class. I spent $5 to purchase a seemingly worthless movie or music subscription, and I fall into the lower middle class category myself.
I've begun to realize that I may be losing touch with the value of money due to exposure to the vast sums and high salaries of people online. In the past, when I had no access to the internet and a phone, I used to carefully save every cent and think twice before spending just $1. However, now I find myself spending more without a second thought.
This realization struck me when I observed a lower middle-class woman desperately asking to borrow less than $1 for nearly 10 minutes, enduring shameful comments from the shop owner. She needed to borrow this money because her husband wasn't earning anything, and their financial situation was such that they didn't have the luxury of saving; they earned daily and spent daily.
What can I do to remember the importance of money and spend more carefully?
I've begun to realize that I may be losing touch with the value of money due to exposure to the vast sums and high salaries of people online. In the past, when I had no access to the internet and a phone, I used to carefully save every cent and think twice before spending just $1. However, now I find myself spending more without a second thought.
This realization struck me when I observed a lower middle-class woman desperately asking to borrow less than $1 for nearly 10 minutes, enduring shameful comments from the shop owner. She needed to borrow this money because her husband wasn't earning anything, and their financial situation was such that they didn't have the luxury of saving; they earned daily and spent daily.
What can I do to remember the importance of money and spend more carefully?
Create a thread so that you can read and reply with others as to what to do.
Come back to that thread every day for 2 months and always figure a way to reply to it.
Re read that thread. Often.
So far you wrote the thread on the 6th of October. Nine replies to it in less than 6 hours. Come back to the thread read them and talk back to us no later than tomorrow.
I've begun to realize that I may be losing touch with the value of money due to exposure to the vast sums and high salaries of people online. In the past, when I had no access to the internet and a phone, I used to carefully save every cent and think twice before spending just $1. However, now I find myself spending more without a second thought.
It’s not about exposure to high salary people online but rather things like subscription and other type of expenses is more easy to do now due to online payment. It’s very easy to spend money even you don’t have enough once you browse something online that interest you while it falls on your budget range.
What can I do to remember the importance of money and spend more carefully?
Don’t use gadget or don’t browse online I guess. Just like what I mention above. It’s very hard to control yourself to not spend once you saw item that interest you that you can purchase online. Convenience is what makes people spend more. Or just do proper budget management so that you can only have limited budget that you can use to purchase miscellaneous things. I've begun to realize that I may be losing touch with the value of money due to exposure to the vast sums and high salaries of people online. In the past, when I had no access to the internet and a phone, I used to carefully save every cent and think twice before spending just $1. However, now I find myself spending more without a second thought.
A glance at the value of money or fiat when you used it in the past was called the Time Value for Money, meaning that the value of fiat will continue to decline due to inflation and inflation is the source of all diseases. So to cover the value of the past the government creates interest. The value of $1 In the past you could spend it on various goods, but now $1 has no value whatsoever to pay for.If we discuss more broadly the emergence of Bitcoin, its supply is limited, even if it is mined until it runs out, the maximum amount in circulation will still be 21 million BTC minus the number of people who have lost Bitcoin in the past because they forgot to recover it. seeds or because they die, etc. With limited circulation, Bitcoin is the only asset or currency that is free from inflation. Compare $1 BTC 10 years ago and what you still have today to $1 US 10 years ago
Can you afford to buy goods at this price now? No
Spend it wisely on the things that you truly need. You don't have to restrict yourself from spending on things that are like for entertainment as long as that amount isn't going to eat a lot of portion of how much you've got. But if you're in that shoe where you barely afford to earn that amount, you must really tighten your pockets. Just remember the hardship that you've dealt with before and how far you've come now. It is okay to help other people to stand on their own when they're in need. Not everyone is fortunate as you at this time and I think that's enough motivation for you to be careful and remember how you should spend your money wisely.
Say, shop wisely, but at this stage the definition of being wise in shopping cannot be measured evenly. For the lower middle class, they do not have sufficient shopping options because to fulfill their daily needs they need to sacrifice other needs. In this way, there is no shopping wisely unless the shopping costs are still low. 
I used to carefully save every cent and think twice before spending just $1. However, now I find myself spending more without a second thought.
Key words:- Value is relative
- Needs must always be met without thinking twice.
- The level of needs changes with the level of income.
For me, that's normal, you are the one who makes other needs come. Let's say someone is a remote farmer with a daily income of $2, they will be excited when they just go to town to see the majestic buildings for their entertainment. Meanwhile, those of you with a salary of $100 per day have to go on holiday abroad to really get entertainment.
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