Spending less than your income is key to financial stability - page 4.

AmoreJaz

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Quote from: Nothingtodo on January 28, 2025, 05:38:56 PM

People are constantly facing shortages, but people are constantly working hard to fill that shortage. We struggle to meet our daily needs with the monthly salary we receive, so we cannot fill unnecessary needs with that limited salary even if we want to. Therefore, we are forced to save some of our salary for the future, even though we cannot fulfill many of our needs in our normal lives, so that we can provide some support with that money in the future.

We can augment our income by doing other things such as accepting other side jobs, spending only what is needed, find ways how to reduce your monthly bills (electricity, net, etc), don't by luxury items if you don't need them.

Orpichukwu

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Quote from: bitterguy28 on January 28, 2025, 05:31:27 PM

is this not common sense? how will you be spending more than you own anyway when you do not have the means for it?

Some civil servants from my place are good at doing that before their salary comes at the end of the month; they have already paid off more than what they are to be paid because they are creditworthy to some salespeople, and when the salary finally comes, in most cases it can't even cover up their debt, talk more of sustaining them for the new month. Some people are just like that; why, in some cases, there are unforeseen circumstances that can lead you to spending more than you earn, you borrow to meet up that target.

Nothingtodo

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People are constantly facing shortages, but people are constantly working hard to fill that shortage. We struggle to meet our daily needs with the monthly salary we receive, so we cannot fill unnecessary needs with that limited salary even if we want to. Therefore, we are forced to save some of our salary for the future, even though we cannot fulfill many of our needs in our normal lives, so that we can provide some support with that money in the future.

bitterguy28

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is this not common sense? how will you be spending more than you own anyway when you do not have the means for it?

anyway sometimes people do not have a choice because maybe they have a family that they have to sustain so either way they still need to spend more than they own which is why they tend to look for another source of income

uche6215

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One key thing that people finds difficult is spending because there are always a thousand thing to do and spend your money on and with the current economic situation that we find ourselves the need to spending is just overwhelming that if you are not careful you will be running on credit even when you just received your salary

Salary is not always enough for your needs and wants because inflation is in the rise in the world depending on your country the cost of living is increasing everyday so to be financially stable with the little earning you currently receive there a great need to prioritize needs and wants and always make sure that you spend less than what you receives in a month your monthly expenditures should not exceed your salary because that is one way that you are going to be dept free and be financially stable in this present time while waiting for that big move or investment that will change your life for the better

Topic: Spending less than your income is key to financial stability - page 4. (Read 345 times)