this makes a huge impact on the economy. - page 3.

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Quote from: Pakar11220 on November 24, 2023, 11:57:14 PM

it depend on person. Mostly salaries persons are waiting for the salary receiving day and they are getting their all needed things on one day as they have to manage time and money both. As salary person has own time table and limits in which he use his money. From that limit salery person fulfilling his needs and also trying to save some money for emergency also. So those who are getting extra money like businessman or those who are getting rental money from their properties are trying to buying some extra as they have no limits.

I have often seen people who spend more than they need after getting their salary, because it is the nature of some people to spend lavishly, because they have more money in their pocket. In the early days of the month, they cannot control themselves after receiving the salary, but when the salary is reduced to half, they feel self-control.

Then they often try to control themselves even in the household necessities. Therefore, if such people realize this during the salary days, then there will be no difficulties for them in the last days of the month. However, having more money in the pocket does not mean that we start spending without thinking. Whether a salaried employee or an entrepreneur , everyone should spend within their budget. However, whoever has uncountable money, he can spend unaccountably.

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it depend on person. Mostly salaries persons are waiting for the salary receiving day and they are getting their all needed things on one day as they have to manage time and money both. As salary person has own time table and limits in which he use his money. From that limit salery person fulfilling his needs and also trying to save some money for emergency also. So those who are getting extra money like businessman or those who are getting rental money from their properties are trying to buying some extra as they have no limits.

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People who receive a salary once a month will spend their money on basic necessities, maybe they buy all the basic necessities once for a month. If they spend money on something that is not included in the category of needs, it will have an impact on their economic condition, unless their income is much greater than their expenses.
There are many things to think about every month, such as paying electricity bills, water and other installments, but basic needs must take priority. It's natural for them to buy more basic necessities at the grocery store so they have stock at home. Their busy schedule at work means they have limited time to go repeatedly to the grocery store.

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Quote from: letteredhub on November 24, 2023, 05:17:22 PM

Quote from: Oshosondy on November 21, 2023, 12:45:31 AM

Quote from: cafter on November 21, 2023, 12:29:11 AM

Do you also find yourself spending more on you payday?, or you approach your expenses differently?

People that are salary eaeners will spend more immediately after they collect their salary. Many of them will have many things to buy in mind but not having money or because they are savings and not want to spend from it will let them wait for the next salary and if they collect the next salary they will spend more. But that does not mean they are not still spending wisely. If anyone collect salary and save from it and also have emergency fund and other important funds saved, that does not mean the person should not go for his needs after collecting another salary but also saving wisely. Although some people spending unwisely.

Salary earners are known for not earning enough monthly salary that can cater for their personal needs and family at large. It's not easy to be a salary earner especially at this hard economic time that prices of commodities keeps soaring up while the money value dwindle continually. I have many salary earners around me in my extended family, I understand they are always in debt as it gets to the middle of the month waiting to clear it after they have been paid salary at the end of the month. They take items on credit from business shop owners with the promise to pay when they receive salary and this is why they don't have enough left to use for investment after all debts has been paid and new items on demands for the new month.

Having investments and savings is of course a hope for everyone. However, if you look at the current conditions, having investment and savings is very difficult in the midst of an economy that is not improving. For those from the middle to lower classes, being able to have a job and earn a salary every month is already very grateful, because by having a job their daily needs will be met. And speaking of, most people shop at the beginning of the month, or when they have received their salary. They do this to prevent the money from being used for other things that are less useful. So for the first time after they received their wages, they had to go to the grocery store to buy rice and other basic necessities as supplies for their lives for the next few days until they received their salaries again.

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Quote from: cafter on November 21, 2023, 12:29:11 AM

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

It’s nothing out of the ordinary that people tend to spend more money when they’ve got more or were just recently paid, especially within a family.
One thing I can’t say for sure is, either it is them buying what they need or just spending money on what they don’t need. I think most times, people who fall within this category of living on wages/salary from a job, they hardly spend more money on what they don’t need because, they are conscious on how much time it would take them to have that bank refilled once exhaust.
Other times, you might just find people taking loans to satisfy their excesses and are often left with nothing when the pay comes.
It’s truly a living the rat race but, I don’t think it’s often about what isn’t needed. Very few would spend money this way.

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Quote from: Oshosondy on November 21, 2023, 12:45:31 AM

Quote from: cafter on November 21, 2023, 12:29:11 AM

Do you also find yourself spending more on you payday?, or you approach your expenses differently?

People that are salary eaeners will spend more immediately after they collect their salary. Many of them will have many things to buy in mind but not having money or because they are savings and not want to spend from it will let them wait for the next salary and if they collect the next salary they will spend more. But that does not mean they are not still spending wisely. If anyone collect salary and save from it and also have emergency fund and other important funds saved, that does not mean the person should not go for his needs after collecting another salary but also saving wisely. Although some people spending unwisely.

Salary earners are known for not earning enough monthly salary that can cater for their personal needs and family at large. It's not easy to be a salary earner especially at this hard economic time that prices of commodities keeps soaring up while the money value dwindle continually. I have many salary earners around me in my extended family, I understand they are always in debt as it gets to the middle of the month waiting to clear it after they have been paid salary at the end of the month. They take items on credit from business shop owners with the promise to pay when they receive salary and this is why they don't have enough left to use for investment after all debts has been paid and new items on demands for the new month.

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Quote from: Silberman on November 24, 2023, 03:26:49 PM

Quote from: umbara ardian on November 24, 2023, 11:54:36 AM

In my opinion, spending more on payday doesn't necessarily mean they're not spending wisely. If someone takes a salary and saves from it, while also saving an emergency fund and other important funds, they can still spend some money on things they want or need.

For example, a person might save 50% of their income, while the remaining 50% is used for living expenses, such as housing, food, and transportation. Once they have met their necessary living expenses, they can spend the remaining money on things they want, such as clothing, entertainment, or travel.

Spending money on things they want can help them feel more satisfied and happier. So spend wisely. They should avoid spending too much on unnecessary things, and they should set limits for themselves.

While it is fine to spend some money on the things that we want, in my experience many people take this to the extreme and spend every single dollar they make on what they want, not understanding that whatever money being saved for their future on their pensions is not going to be anywhere near enough to maintain their current lifestyle, so they either learn to lower their expenses now or they may suffer the consequences once they do not have the strength and health to work anymore.

We have to be able to distinguish whether the money we spend on the things we want is just for self-reward or whether we are just trying to be hedonistic.

When indeed we use it only as a self reward then indeed it will not be a problem as long as we don't do things like this too often and don't feel too much that we have a lot of money we can do everything because in the end when such hedonistic nature is in us it is we who will get into trouble.
The money we have if we are not good at managing it then it will run out but if in the end when we are aware of good money management even if we buy the things we want we can still control ourselves that we should not be hedonic just because we have a lot of money because it can just run out when we can't control it.

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It is not surprising that most people shop in large quantities after they get paid at the beginning of the month. It happens, because they have to shop to fulfill their basic needs for the next month. And that is quite wise to do, and quite common too. They are just trying to avoid that they will starve in the middle of the month or at the end of the month. And they are trying to work out how the wages they get now can guarantee their lives until they get wages in the next month.

What is not allowed is that, after they get their wages at the beginning of the month. They instead go shopping to fulfill what they want such as the latest smpraphone, expensive clothes and go to famous eating places for the sake of prestige, while in the middle of the month they have to take out loans to survive.

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Quote from: umbara ardian on November 24, 2023, 11:54:36 AM

In my opinion, spending more on payday doesn't necessarily mean they're not spending wisely. If someone takes a salary and saves from it, while also saving an emergency fund and other important funds, they can still spend some money on things they want or need.

For example, a person might save 50% of their income, while the remaining 50% is used for living expenses, such as housing, food, and transportation. Once they have met their necessary living expenses, they can spend the remaining money on things they want, such as clothing, entertainment, or travel.

Spending money on things they want can help them feel more satisfied and happier. So spend wisely. They should avoid spending too much on unnecessary things, and they should set limits for themselves.

While it is fine to spend some money on the things that we want, in my experience many people take this to the extreme and spend every single dollar they make on what they want, not understanding that whatever money being saved for their future on their pensions is not going to be anywhere near enough to maintain their current lifestyle, so they either learn to lower their expenses now or they may suffer the consequences once they do not have the strength and health to work anymore.

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Quote from: Rockstarguy on November 24, 2023, 07:28:15 AM

Quote from: cafter on November 21, 2023, 12:29:11 AM

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.

The truth is that this is just the character of every salary earners how they live their life, as it is getting close to when they will recieve their allowance they have already budgeted what they will spend their money on for the month. Most salary earners have only one source of income and it is expected for them to depend on their salary for what they really want. From the look of the economy right now that things are very expensive you can't expect salary earners not to temper with their salary just because to save money. People still need money to get themselves the things they really need.

Yes maybe it's just character and of course not everyone does the same thing. It's not easy if your salary is paid monthly and only from one source of income. In this position, financial management is of course very necessary so that finances remain stable and sufficient until the next month.

But maybe it would be different if salaries were paid weekly, perhaps our assumptions about people who get monthly salaries and look more wasteful when they get a salary will no longer happen significantly. In my opinion, an employee will be more relaxed if his salary is paid weekly so that it will be easier for him to manage his financial flows.

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Quote from: electronicash on November 21, 2023, 01:04:52 AM

(Cut a little)
but keep enough cash for savings/emergencies.

It's true what you said. We should set aside money for savings for emergencies for financial stability. The importance of budget management and savings is so important to face financial challenges.
Note: Prioritize saving to anticipate emergencies (unwanted things).

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Quote from: Oshosondy on November 21, 2023, 12:45:31 AM

Quote from: cafter on November 21, 2023, 12:29:11 AM

Do you also find yourself spending more on you payday?, or you approach your expenses differently?

Although some people spending unwisely.

In my opinion, spending more on payday doesn't necessarily mean they're not spending wisely. If someone takes a salary and saves from it, while also saving an emergency fund and other important funds, they can still spend some money on things they want or need.

For example, a person might save 50% of their income, while the remaining 50% is used for living expenses, such as housing, food, and transportation. Once they have met their necessary living expenses, they can spend the remaining money on things they want, such as clothing, entertainment, or travel.

Spending money on things they want can help them feel more satisfied and happier. So spend wisely. They should avoid spending too much on unnecessary things, and they should set limits for themselves.

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Quote from: cafter on November 21, 2023, 12:29:11 AM

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

Do you also find yourself spending more on you payday?, or you approach your expenses differently?

Permit me to ask this before I begin, how do you know they are buying things they don't need? The thing is we individual are very different and we have different taste as far things are concerned. What's valuable to you is what is very valueless to another person. I know that some people are actually living an extravagant lifestyle but I have never seen anyone buying what they don't need. It's understandable if you say they are buying things that are not necessary. And again, our priority varies and we can not dictate to people how to spend their money especially when they are grown up adult and responsible. Of course, we can call their attention to advice them on the way they spend if we notice it's more than necessary but not to tell them what to buy and what not to buy. What I mean here is offering financial management advice.

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Quote from: cafter on November 21, 2023, 12:29:11 AM

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.

If most people spend their money at that time, and habitually buy the things they want. This is indeed normal, and we need to remember that desires and needs are two different but related things.
Usually, people like that don't have principles/programs for survival in the future, and tend to be stagnant in their lives.

Quote from: cafter on November 21, 2023, 12:29:11 AM

Do you also find yourself spending more on you payday?, or you approach your expenses differently?

If you ask that, I'm actually the opposite, I only prioritize my needs, I always save to survive in the future, because I have a program/plan for the future, even though sometimes the plans don't work out. At least I try more to achieve the goals I want.

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Quote from: cafter on November 21, 2023, 12:29:11 AM

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

Do you also find yourself spending more on you payday?, or you approach your expenses differently?

It's a normal occurrence for most salary earners to buy a lot of stuff on the day they received there salary and this is majorly because they would want to stuck their house with foodstuff so if for any reason they became careless with there spending, food won't necessarily become a major concern. One thing you should also know about most salary earners is that for the ones I know around me, before there salary even comes in, they've already collected stuff from provision stores on credit with the promise that once the payment comes in, they will pay off there debt and so once the alert comes in, most of them will go to the stores to start calculating how much they will need to pay and remove that from there salary and whatever is left would be use to buy some foodstuff while the rest is mept for the day to day running of household stuff and other things. Being a salary earner is a big stress on it own.

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Quote from: cafter on November 21, 2023, 12:29:11 AM

Do yu also find yourself spending more on you payday?, or you approach your expenses differently?

Yes, this is a fairly common phenomenon and I have noticed it in my behavior. When I increased my income, I stopped sewing clothes and looking for discounted goods. And this is wrong. You need to save extra money in assets, telling yourself that they are not available for spending. It is possible to transfer money to an irrevocable bank account so that you do not want to spend it.

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Quote from: cafter on November 21, 2023, 12:29:11 AM

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.

The truth is that this is just the character of every salary earners how they live their life, as it is getting close to when they will recieve their allowance they have already budgeted what they will spend their money on for the month. Most salary earners have only one source of income and it is expected for them to depend on their salary for what they really want. From the look of the economy right now that things are very expensive you can't expect salary earners not to temper with their salary just because to save money. People still need money to get themselves the things they really need.

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Quote from: ultrloa on November 24, 2023, 03:35:49 AM

Current economic state on each country becoming more worst that's why we need to adopt on changes since if we are so lazy and will not step out on our comfort zone for sure in future we will be in trouble with that.

Changing the culture of splurging money after receiving a paycheck seems more crucial to fix, as it will likely persist when someone gets a bigger salary. The distribution of money becomes imbalanced. When someone gets a larger sum, the chances are they'll elevate their lifestyle, adding luxurious items to seek recognition and show off. This mindset really needs to be changed first.

Stepping out of the comfort zone is truly the best choice. Apart from testing someone's mental resilience, the comfort zone is essentially a prison that will only limit their potential. It seems like there are still many people unwilling to take bigger risks, and as a result, they don't have the opportunity to earn more income.

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Quote from: fauzan Ichsan on November 24, 2023, 12:25:41 AM

Quote from: NewRanger on November 23, 2023, 11:18:50 PM

Quote from: CODE200 on November 22, 2023, 03:08:11 PM

As someone who experienced living paycheck to paycheck, you have no choice but to time your buys (especially the essential ones like grocery) during from when you'd get paid. If you drag it out in the next few days and let other expenses take your focus, you're literally leaving out the chance for you to buy those things you wanted. And I don't really care about the economy at this point cause to some people, these simple things in life are what gets them going, and while this is not going to fare in the long run, it's not as if these people didn't know this yet.

Let people enjoy things, but be compassionate enough to inform and empathize with their situation. It's hard to live and get by on a budgeted basis from a salary that barely keeps you alive to begin with.

It's true, but it's very different from society's view if they see us earning a salary but still living in poverty and always considering this to be impossible because we see it visually. On the one hand, the family's needs must be met, on the other hand there must also be daily costs for traveling to the office and if we count, only 15 days can survive with the total salary we earn in one month. Yes. that's life and live it with a happy heart.

but no matter what, life has to go on, the necessities of life seem to continue to rise, while our salaries don't follow suit, so it's true that in the middle of the month money is running low, sometimes there isn't enough until the end of the month, but we can still survive, from there I'm surprised, luck really isn't enough. It can be calculated mathematically, unlike salary, as long as we are willing to try we must be able to survive with changing situations

We shouldn't look for a luck to survive and for current harsh economic condition of the world we should find multiple ways to earn money. Lucky for us to know about crypto because we already have an idea on where to earn extra income here. We need to work hard nowadays since if we just rely on single source of income for sure we will be in trouble if bad faith came and that main income stream you have stops. That's why its important for us to think about for many ways on how to have multiple cash flow so that our family can live a comfortable life.

Current economic state on each country becoming more worst that's why we need to adopt on changes since if we are so lazy and will not step out on our comfort zone for sure in future we will be in trouble with that.

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Quote from: NewRanger on November 23, 2023, 11:18:50 PM

Quote from: CODE200 on November 22, 2023, 03:08:11 PM

As someone who experienced living paycheck to paycheck, you have no choice but to time your buys (especially the essential ones like grocery) during from when you'd get paid. If you drag it out in the next few days and let other expenses take your focus, you're literally leaving out the chance for you to buy those things you wanted. And I don't really care about the economy at this point cause to some people, these simple things in life are what gets them going, and while this is not going to fare in the long run, it's not as if these people didn't know this yet.

Let people enjoy things, but be compassionate enough to inform and empathize with their situation. It's hard to live and get by on a budgeted basis from a salary that barely keeps you alive to begin with.

It's true, but it's very different from society's view if they see us earning a salary but still living in poverty and always considering this to be impossible because we see it visually. On the one hand, the family's needs must be met, on the other hand there must also be daily costs for traveling to the office and if we count, only 15 days can survive with the total salary we earn in one month. Yes. that's life and live it with a happy heart.

but no matter what, life has to go on, the necessities of life seem to continue to rise, while our salaries don't follow suit, so it's true that in the middle of the month money is running low, sometimes there isn't enough until the end of the month, but we can still survive, from there I'm surprised, luck really isn't enough. It can be calculated mathematically, unlike salary, as long as we are willing to try we must be able to survive with changing situations

Topic: this makes a huge impact on the economy. - page 3. (Read 823 times)