this makes a huge impact on the economy. - page 5.

ancafe

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

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 happens almost in most places now and when they receive a salary they will buy something other than the essentials. This kind of behavior has spread widely among society and they do not consider developing the potential of the money they have. If shopping habits can be balanced with opinions at work, that's another thing, because this can influence the sales sector to be much more developed, but what becomes a problem is when spending is not balanced with their income. I don't have a criteria for buying things and usually I will put the important things first even though sometimes I can't control when I have money and that's how human life is nowadays.

People's behavior in making money through productivity is not always the same and some people do not even have the ability to develop a business. So this is what we need to review and the younger generation must really be taught to develop their potential, spending money on things they need is a must and an attitude of prioritizing what is important must be instilled.

Sebas.tian

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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.

barisbilgili

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Quote from: dothebeats on November 21, 2023, 05:30:38 PM

I used to be a product of consumerism. I tend to overspend on things that I don't need on days when I have excess money. It is when I started tracking my finances that I came into the realization that I'm spending a lot of money that could have went to a savings or investment fund instead. It was a grim realization, though I was able to curb it thanks to me living alone and being a really frugal person to my core.

A lot of people are driven by consumerism. It's not a healthy mindset, though with the advancement in advertising, people are easily baited.

Spending money for lifestyle needs will mean that the income we get will not be able to invest or save, because every time we have income we will be lured by the advertisements we see and buy things we don't actually need, so it is very important for us to be able to note all the expenses we have so that we can check whether we have used the money we have well and if we find the money we use for things we don't need and can improve it so as not to use the money we have on things we don't need.

dothebeats

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I used to be a product of consumerism. I tend to overspend on things that I don't need on days when I have excess money. It is when I started tracking my finances that I came into the realization that I'm spending a lot of money that could have went to a savings or investment fund instead. It was a grim realization, though I was able to curb it thanks to me living alone and being a really frugal person to my core.

A lot of people are driven by consumerism. It's not a healthy mindset, though with the advancement in advertising, people are easily baited.

Fortify

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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?

This has been going on for generations, people want instant gratification and don't want to think about the consequences of paying it back. All the products and services out there use advertising designed to tell you how happy you'll be if you just purchase item X, while glossing over or disguising the price of it "in 360 easy payments of $5". Many people will fall into these traps because the education system in most countries does not set people up well enough to defend against this very clever psychology of sales. The focus is too often on math in schools, when it should be on financial instruments and encouraging savings / investments. There is also a lot of hidden astroturfing going around these days which can make it even harder to tell honest opinions.

Fausto Arta

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Quote from: puloweh555 on November 21, 2023, 04:04:19 PM

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 I read from your story about many customers shopping when they receive their salary at your father's clotong shop, maybe they shop for necessities in a month. by shopping at the beginning of the month to have enough for everything until the end of the month so they can save time buying household necessities.

Of course, take a different approach to spending. In my opinion, money can also be used as a treatment for stress, to be honest, that's what I feel. Therefore I try to control the money that comes in and goes out (both). So I keep shopping below my salary to be able to save and save money.

Because for me, the way to live economically doesn't actually require using this or that theory, this method or that, the important thing is determination in your heart and mind. Usually, wasteful people don't have a future goal in life, they want to have something big, their desires are only short term. As rich as people are, they still have financial planning, there are things that must be saved. God has given us enough fortune, what makes it not enough is his lifestyle, his desires exceed his abilities, he wants to have this and that but doesn't measure it.

Hmmm, that's some wise advice coming from the crowd.
We all need planning, but some of them have to ruin it because of inflation.

You can't completely stop your lifestyle and hold back many intentions of not having something of high value, because whatever you have today is a blessing that you should feel after working hard. If you are too stingy with yourself to the point of not look better when you have money, then you will fail to enjoy life from the results of your own sweat. Yes, of course within reasonable limits, meaning that your lifestyle is in accordance with your financial capabilities.

puloweh555

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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 I read from your story about many customers shopping when they receive their salary at your father's clotong shop, maybe they shop for necessities in a month. by shopping at the beginning of the month to have enough for everything until the end of the month so they can save time buying household necessities.

Of course, take a different approach to spending. In my opinion, money can also be used as a treatment for stress, to be honest, that's what I feel. Therefore I try to control the money that comes in and goes out (both). So I keep shopping below my salary to be able to save and save money.

Because for me, the way to live economically doesn't actually require using this or that theory, this method or that, the important thing is determination in your heart and mind. Usually, wasteful people don't have a future goal in life, they want to have something big, their desires are only short term. As rich as people are, they still have financial planning, there are things that must be saved. God has given us enough fortune, what makes it not enough is his lifestyle, his desires exceed his abilities, he wants to have this and that but doesn't measure it.

ZAINmalik75

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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.

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

Yeah, I find myself spending more on payday but I don't mind it because I don't waste money on useless things because on payday when I receive my earnings, I first try to clear out my loans, expenses, and the basic goods for the house and pay the bills I try my best to contribute in my home expenses and at the end I left with a little saving which I prefer to invest in BTC.

But whenever I save money in fiat I definitely spend that money on food and on other things that I don't want to disclose its not they are bad things instead they are a lot of things like shoes, clothes, or other small things but I buy occasionally.

I wanted to make my approach more saving type means I want to save more and to do that I have to earn more so now my only concern is to expand my earning sites so I could earn more and after spending my on all the expenses I would leave with more savings and I would buy things for me. And I don't think you can judge people for one hundred percent that they are buying things from your store and they are useless to them. Maybe they are not, maybe they are buying it for someone else or there would be any case.

TakeItEasy

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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?

Mostly I pay on my food and I also like the street food the most. And also I like watches, even I like to get a new watch everyday, and I also do that. But sometimes there are some issues due to which I didn't change the watch daily. Although I have a habit of buying food even I was full sometimes but drinking juice and eating fast foods are just like on another level.

My monthly expenses got spend, and has a 70% on my food which I want to quit a little but some of my doctor friends says it is also important for health, that you can keep your body healthy. He always say me how would you work if you didn't keep your body always fit? Then I didn't say anything to him in return. BTW I'm find a way to quite this bad habit of spending useless money.

Silberman

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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?

Those habits are maintained through the life of a person as it is known this happens also to the elderly when they get the money from their pensions, in my opinion what happens is that people are just earning enough to maintain their lifestyle and they have no savings at all, so they have to spend a great deal of their money as soon as they receive it, this is what it is commonly known as the rat race, and if people want to avoid falling into that pattern then they need to reduce their expenses as much as possible and begin to save and to invest.

komisariatku

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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?

Yes, I do that often. Usually I will buy several things such as clothes, accessories, travel with my family or eat out when I get my monthly salary. I think it's a little reward for the work I've done in the last month and a reward for my family.

To be honest, I actually think this is a bad culture, because we will spend more money on payday and need to live frugally at the end of the month. And I think most people who earn a monthly salary would do the same. But before I had my own business so there was no such thing as a monthly salary, so I didn't have that habit.

Sometimes when we have enough money, we will lose control and start buying things we don't need. This is a normal habit but not actually a good habit, thinking saving and using it for investment is probably the best thing to do.

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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?

I think I probably spend more when I get money, but I also consider it reasonable behaviour. I wouldn't normally use that money to buy more stuff that I need for the week, and instead I buy something I don't need, as you put it. I do it to treat myself and my loved ones, to create a nice moment, even if it's something small. Life should be enjoyed, in my opinion, so sometimes buying something you don't need (but something you will get joy out of) is a good thing to do. I don't waste food, and I don't shop for clothes or small unnecessary things. So I order takeaway from a place I like or buy something fancy like salted salmon. It's a small thing, I can totally live without it, but I enjoy it once in a while, so I do it and don't think of it as a mistake.

Kelward

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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?

Financial intelligence is the key, when you have it, then you have structured your income, so any spendings does not happen by accident. Two things that income earners should have is a budget and discipline to see it through. Every expenditure of the month must fall into the budget and anything that is not in it is can not be spent on. Even if you must give your family a treat on pay day, let it be on the months budget, with it you won't be enticed to spend money unnecessarily. Furthermore you'll escape being in dept.

With budgeting you plan all your expenses, and any expenses that comes after the budget, if it's important, has to be carried over to the next month, unless it's perhaps heath issues.

Cryptomultiplier

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I would conclude anytime on how much your father must have made from selling groceries, because you OP, have successfully taken a proper statistics of the spending habits and frequency of such expenses mostly after being paid from work.

I would also add that you can't actually tell if what someone is buying is not important, because you think you make better choices than them and are better in some way than they are.

It's not easy working at a salaried job and then half of it is going to be spent on paying accrued bills only to want to spend on some joy and someone thinks it isn't important. The spending habits is a result of why interest rates are going up, hence a major impact on the economy.

Antotena

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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.

You know you are funny right?
How do you even know they don't need things they buy? Do you know if they get maximum satisfaction from the things you see them with. What we buy and use is subjective and how we choose our own happiness can never be the same, so let's them be and allow them do what makes them happy. If the opposite is what you love, then you can do that instead, isn't that cool. Kiss

Quote

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?

I don't know about your country but in my country where people have list of the things they want to buy even before receiving their pay check is a normal thing because what they earn isn't even huge enough to sort out all the bills they have and when they do, it consumes everything without having any savings for miscellaneous and other emergency activity. In some states in my country, many of them have debts pile up pending when they received their pay check to settle everything.

Faisal2202

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

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?

First I thought you were going to talk about different strategies to earn more by taking advantage of other's desire to earn more when they get their payday but at the end, you are asking the same question that many members had already asked. Well, still, this question is very important because different cultures, have different desires, which cost different and yeah the payday also differs.

Talking about myself, I used to save money but didn't want to buy things, especially for me, for example, I can buy things for my siblings, for others, but don't want to spend them on myself, I don't know what behavior is this I am acting but I want to avoid that.

Therefore to those who spend a lot or waste money on things they don't need, I will say they must be earning a lot and to avoid doing it they should know the value of money to those who don't have it or lack it. Be humble to others and never spend a lot on useless things before setting up things like making some investments, and try to become more investing person when you think you are all set up then you can buy things you want to because buying thing for yourself will make you more energetic and motivated.

ChiBitCTy

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This is an extremely typical/normal economic pattern, if you will. Sadly a good majority of the entire world lives paycheck to paycheck (if they are lucky enough to even have a paycheck) so when they get paid that is obviously when they are finally able to go to the store to buy groceries, clothing etc.

Sure you've also got the other side of the coin where people get paychecks and have some sort of chemical reaction in their brain telling them "you should go spend your money, you deserve it" (whether they really do or not).

stadus

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You should appreciate the fact that their spending habits could contribute to the profitability of your father's business. Thanks for sharing your observation. People have diverse approaches to spending, whether it's on wants or needs, and our unique perspectives stem from various influences. Given your parents' involvement in the business, you likely understand how to effectively manage your funds and prioritize your expenses. However, others may find inspiration in spending, viewing it as a motivator to work hard and earn money.

In our world, business ownership is pursued by a select few, while the majority opt for employment. As we're aware, only a small percentage achieve wealth, with the majority leading simple lives, not financially free, and unfortunately, a significant number still grappling with poverty.

Fivestar4everMVP

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I truth of the matter is that, majority do spend more on their pay day, most especially those earning monthly, and I do not really blame them since in the course of the month, some needs must have risen up but there was no money to meet those needs, so the usually push such needs to the ending of the money when they get their paycheck, so immediately the paycheck comes, they go on to meet their needs that has been pending for the paycheck to come.

I know this because I worked and earned on monthly basis before, when the salary comes in and you see me buying alot of things, I am not buying things I don't need, I am only buying things that have been on my pending list waiting for my salary to be paid.

Ahli38

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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?

Actually, there are two possible reasons why people shop more when they get paid at the beginning of the month or on a young date. The first reason could be that they are being wasteful and want to pamper themselves a little by giving themselves a little gift by shopping more than usual. The second reason is that they actually shop more at the beginning of the month because they shop for a lot of necessities to store and make supplies for one month's needs. Because I personally also do this. But because I usually withdraw money for household needs for a week once a week. So I usually shop in large quantities at once once a week to stock up on necessities for the week.

So people who shop a lot at the beginning of the month may not be wasteful people but they do shop more for supplies. But there are also typical people who are wasteful when they receive their salary. They even party and they forget that the money they get must also be enough for the next month. But I personally see that most people who are married are used to shopping more during payday and that a lot of shopping is not to be spent in a short time but is to stock up for a certain period of time.

Topic: this makes a huge impact on the economy. - page 5. (Read 823 times)