this makes a huge impact on the economy. - page 4.

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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.

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Quote from: mvdheuvel1983 on November 23, 2023, 04:29:57 PM

This goes to show you how we as humans plan our lives around our salary. It is almost as if we are leaving to work for our salary and spend it the moment we are paid. And most of these expenses made when your salary has been received is impulse buying.

Speak for yourself. Some of us have a pre-made budget, with all the income and expenses and have been saving for a long time, so in reality payday has long since become just another day. Moreover, if I go to buy clothes in a physical store, for example, I wait until the end of the month because I know that there won't be many people, and I certainly do not go to the beginning when everyone has been paid because it is full. I like choosing my clothes quietly.

Quote from: mvdheuvel1983 on November 23, 2023, 04:29:57 PM

Which is why it Is not bad of you wait it out for a few days before making any expenses. You will have more clear and logical thinking if you do so.

Agreed, but better if you get used to budgeting.

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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?

This goes to show you how we as humans plan our lives around our salary. It is almost as if we are leaving to work for our salary and spend it the moment we are paid. And most of these expenses made when your salary has been received is impulse buying. Which is why it Is not bad of you wait it out for a few days before making any expenses. You will have more clear and logical thinking if you do so.

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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 notice that someone spends a lot on their payday or shortly after their payday, It does not always mean that they are spending out of budget. In some of the budgets of these people, they have budgeted to buy these things in bulk. If you buy things in bulk to last for a period of time, you will find yourself spending much money on some days than on some other days, It is normal, and may actually help you spend money better than when decide to not buy in bulk but manage what you receive and keep buying things in small quantities.

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Quote from: Despairo on November 21, 2023, 12:51:39 AM

It's not huge impact, but it's what should be expected.

When it comes to economy of a country, people need to spend their money than to hoard it, but money that they spend must be anything that related to their country. If they spend it to outside the country, it will decrease the money circulation, resulting some people get less money than before.

So if you want to support your country, become a freelancer or exporter are good choice as you're making money from the other country.

Exactly because the country's economy is not good enough, people spend money to hold because the country's economy is not good enough. Let me say that if you are not rich, you can hold your money for a long time because some people have families to feed on, and when they collect their salary they need to spend too much money to satisfy them What I mean is that if you are collecting a paycheck, that is how difficulties will come for you, and how your salary is that this is how you will be able to handle problems. Some people don't have enough to do with their money because of debt, so after they collect money dey use it and pay there dept without no plan to self money.

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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.

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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?

If you live in poor country, there is a very high chance that your customers are not spending more than they don't need, probably in your area many people live from paycheck to paycheck and that's why you see a quick burst in sales on payday. There are also many parents who don't want their kids to feel sad and try to buy everything even if that's hard to afford for them.

Quote from: hugeblack on November 21, 2023, 04:31:16 AM

If your society does not face financial shocks such as imposed inflation or sudden unemployment, then people's spending habits will inevitably be like this, as most people tend to feel that they are rich and thus spend more money whenever this money is available. This feeling gives them a feeling that what they are doing is great, whether it is jobs or businesses. service and Adrenalin dosage to continue working hard, even if they know that at the end of the month they may not be able to get the same quality of life.

No, it matters where he lives. When people live from paycheck to paycheck, they buy necessary items when they get their salary and rarely have to spend money on other things but in rich countries, if someone spends a lot of money during paydays then they are the ones who buy what they don't need to buy. That's very common issue in USA as I have heard.

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

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?

This also depends on how much those people are earning as a salary. While I was growing up and doing some side hustles, I worked in two grocery stores. In my country, payment usually comes in around the 28th day of the month through the first week of the next month, and during that period, you see lots of people trooping in and out of the supermarket. I know that depending on where you are working, salary varies, and there are people earning such a huge sum that they can afford to buy anything they want and it will not affect them, while some people too will only buy as much as they can afford. Definitely, those who ever spend more than they have earned will feel the consequences of their action. So, it's left for everyone to make the choice of spending judiciously so that they don't get affected by more important bills left unpaid.

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Of course they can spend more than usual on their salary dates because this is where they can have most money. Your dad owns a grocery store, so the items that are being sold their are mostly essentials that people needs to live, therefore I see nothing wrong if people spend more money on these items.

You are right that this and other factors are needed to be considered before we start a business so that we will know if what type of customers we are targeting and we can waste less of our resources. It's crucial for our success. Each of us are not the same. If you know this, you won't be surprised on why some people are like that (can spend recklessly). We can try to educate them financially if we are really concerned about them, so that they can also improve their lives.

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Quote from: Youngkhngdiddy on November 22, 2023, 07:05:43 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.
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?

Payday in this country is always a day of joy because that day your whole cravings will be satisfied. Although financially it's wrong, it just shows lack of financial plans. On a normal pay day, one just has to meet his needs right, it's wrong to go about spending unhealthily. For every right thinking person, he'll have a number of things he'd need to do for himself with his salaries and added to that list, there'll be persuasion in the mind to get unnecessary things too, now it takes a reasonable person to know how he makes his expenses from his salary.
That’s finance management as well, it's part of what would help in financial growth too. Do not go about fulfilling all your heart desires, satisfying all your cravings both the important and less important ones, rather sit back, make plans, budget, check out every area of yourself and list out the very important things you'd need to settle out first with your salary and most importantly, don't forget to put in your savings first in the budget because it's definitely what will save you when rainy days come.

Here in our country, the day of payday for most employees, which I don't understand, is a feeling for many that they are like one-day millionaires. This is how most people work here. feeling social but trying hard, feeling high-class but not either.

Going along with the trend but still trying hard, after a few days of pay day, there is no money; it's all debt, the way other employees do here. So most of those who work here lack financial management.

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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?

Payday in this country is always a day of joy because that day your whole cravings will be satisfied. Although financially it's wrong, it just shows lack of financial plans. On a normal pay day, one just has to meet his needs right, it's wrong to go about spending unhealthily. For every right thinking person, he'll have a number of things he'd need to do for himself with his salaries and added to that list, there'll be persuasion in the mind to get unnecessary things too, now it takes a reasonable person to know how he makes his expenses from his salary.
That’s finance management as well, it's part of what would help in financial growth too. Do not go about fulfilling all your heart desires, satisfying all your cravings both the important and less important ones, rather sit back, make plans, budget, check out every area of yourself and list out the very important things you'd need to settle out first with your salary and most importantly, don't forget to put in your savings first in the budget because it's definitely what will save you when rainy days come.

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well obviously since you technically have more money you’re gonna buy more

let’s say i earned $100 on the 15th of the month,
by the end of the month I probably have consumed half or maybe a little more than half of what i earned
so now i need to control myself on my spendings by the first 2 weeks of the next month i have almost nothing
to spend on extra things so by the time 15th comes i’ll think that whatever i wanted to buy the last time, i’m gonna buy it now because i have the money now

this might be the logic behind the sales that happens in stores they tend to create a sale on the day they know most workers have just gotten their pay

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Individuals have needs and spend money according to their means. I can't tell you who needs what when. Some people may be different such as excessive hanging out with friends, spending more money than necessary to travel around. Employees receive their salary in the first week of the month and buy their necessities for the next few weeks at once. So it does not mean that he is spending extra money. Basically they gather their needs in advance. As you have an idea about the business, you will realize that the sales in the first two weeks of the month have a greater impact on the business than the last two weeks of the month. I think income expenditure account is personal. Investing and saving for my or your future is a personal decision.

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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?

As for me, I don't really have set shopping routines. When the checks roll in every month, I usually knock out the regular bills first and groceries and whatnot I just buy when I need to, spreading it out over the weeks. I tend to watch my budget pretty close not overspending just because I got some extra funds that week. But I also dont deprive myself either - if I've covered my bases, a little treat now and then is nice.

Some people go nuts when they get paid, while others prefer to save their money. Comes down to personal money situation and preferences, I guess. At the end of the day, we all handle our finances differently. Businesses need to understand that if they wanna connect with customers and meet their diverse needs.

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Quote from: traderethereum on November 22, 2023, 12:35:08 AM

I don't spend more on my payday because I have to immediately allocate the money for various daily needs and save the remaining money, including allocating gambling Grin

But what I have allocated often changes because of sudden needs that must be met immediately, so if that's the case, I have to rearrange the money allocation.
I only buy things I need so I can save money for other things, and I can be calm in managing my money.
Don't chase a lifestyle because it will never satisfy us, especially since lifestyles are always changing, which can make it difficult for us to follow them.

I also do the same thing, although not for a monthly period. But shopping in large quantities at the beginning of the month or when we have just received our salary does not mean waste. Because sometimes I also shop a lot at once for a week's supply. Because sometimes shopping more at once we can get cheaper prices. This is what also happens a lot.

But shopping in large quantities for supplies within a certain period of time must begin with careful planning and allocation of funds as you did. And the solution is that if needs often arise outside of the allocated planning, we can overcome them by preparing from the start, namely by having a special allocation for emergency funds. Which can be used for health or other things that sometimes come without us planning. If we don't have an emergency fund, this could potentially damage any fund allocation plans that we have prepared. So it is better to make some backup plans in this case too. An emergency fund is one of them.

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I think it really depends on the situation of the person, cause some of them to have a family to feed, so they are already spending their money on their needs such as storing food, allowance, etc, from that they can manage the extra money left that could go to savings or investment. And if the case is a person working for himself, for sure they can spend money on things they want cause they only need to feed themselves, so every payday they motivate themselves like "once I get my salary I will buy a new cellphone", which is sound impractical for a person who's budgeting their money. Desires and wants could be a way of motivating people, but spending money on unnecessary things and you don't even need is actually bad which can be an issue in your financial status in the future. Some lifestyle might sound good to hear that you can buy everything you want, but it would be better to have investment and savings for your future, and those desires and wants you can easily achieve.

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Majority of people are spending money on 1st day of their salaries because they are in wait to get money and fulfill the requirements of family because once they spend money then there will be difficulty in mid of month to buy something necessary. In our country salaries are on monthly basis therefore most of them prefer to buy all the things in first week of a month.

But those who settled their business will not wait for 1st day of salary because they earn on daily basis. People who earned their salaries make a plan for it and save some amount for emergency therefore they have fixed date on which they buy all the things as during first days there have money to accommodate it but later they don't have much money.

Some people have no idea of spending therefore they don't think about rest of the month but spend all money in one day so this step is not a wise step but actually it make a man useless because they don't have save amount for future.

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I don't spend more on my payday because I have to immediately allocate the money for various daily needs and save the remaining money, including allocating gambling Grin

But what I have allocated often changes because of sudden needs that must be met immediately, so if that's the case, I have to rearrange the money allocation.
I only buy things I need so I can save money for other things, and I can be calm in managing my money.
Don't chase a lifestyle because it will never satisfy us, especially since lifestyles are always changing, which can make it difficult for us to follow them.

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Quote from: Sebas.tian on November 21, 2023, 10:34:38 PM

Spending money on some things you don't need is a madness, and such people need to visit a hospital for a proper treatment so that he or she will begin to function well by buying things they need. Every 27th of every month is my pay day and my family know that i always come home with food stuff and other things that will serve us through out the months till another salary will come, and it make the family not to experience any hardship in the house. How do you know that those people are spending money on some things they don't need? For people to leave their various home to your store to purchase a particular things show that they need that particular products or someone send them to buy the products for consumption purpose.

Life style. if they feel that it is easier and easier to get money and you can feel this if you get a big salary of course it is followed by big expenses and if it is small you will adjust it or adjust it to the end of the month because the post is only one salary. Like it or not, it's all there.

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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 love to spend money as soon as they get their salary. Sometimes, they need all those items at home or office, but they do not have the money to buy them all, so they wait for their salary to be credited.
Branding and marketing also influence the spending habits of people. Nowadays, people spend their money just to show off. For example, they wanted their friends and relatives to know that they own an iPhone or a high-end vehicle etc. They spend money afterwards to maintain that status quo.

I usually buy stuff whenever I need them. I don't buy things just because they are on sale. I do wait for some items to go on sale to buy them cheaper, but they are not my daily routine items.

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