this makes a huge impact on the economy. - page 6.

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Quote from: harapan on November 21, 2023, 08:20:26 AM

-snip-
Everybody wants a better quality of life and once they have money they will try to make sure they live better, that's the whole essence of working.

More precisely is the purpose of work, providing a higher level of quality of life with the salary received on his job.
But some people who do work also have not been able to raise their standard of living to a higher level because the salary from the job does not make enough money to change their lives more comfortably, but it still needs a process.

Quote from: harapan on November 21, 2023, 08:20:26 AM

It's even economically better to buy stuff once in bulk when there's money instead of buying in small quantities every time.

I always apply this kind of thing, when I have more money or enough salary to buy large quantities of necessities, I buy everything needed,
so there is no need to buy gradually or separately because it will take more time and of course more money used for transportation and some other costs.

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Not completely aligned with your though process, but I agree that most of the people spend more in first 10 days of the month compared to last 20 days but we need to understand that's when people stock up grocery, end up paying all the dues and once they spent the default amount they go on budget mode and buy only things which are only absolutely necessary or what they have missed out to purchase during first ten days and it makes them look like they have per spent. It's a common misconception and I have worked with one of the latest eCommerce company hence I knew how the customer behavioural pattern.

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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?

Yeah, This is normal because you will have more cash available unless you are planning to buy something big that you need to save it. But most of the people will surely spend a lot during payday because have more cash to spend especially those whose salary is just sufficient for daily necessities.

People considering treating themselves during payday as reward for their hard work. I usually ho to the mall or eat on fancy restaurant during payday as gift to myself.

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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.

This is something that is common among salary earners when they receive their salaries in the first week of the new month. Some of them that are not financially prudent tend to spend their money recklessly, before the middle of the month, they've gone broke and they begin to buy things on credit while they wait for their next paycheck.

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?

I'm not a salary earner and my approach is quite simple. Whenever I noticed my food stuffs have depleted, I restocked. I get basically what I need and most times it lasts more than a month.

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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.

It's a general rule of economics that people spend more when they have money so this behavior should be pretty normal. Isn't that what inflation is based on? When there is too much money, the price of commodities increases because buyers have more money to spend. When people receive their salaries they tend to buy all the things they need, and stack up their fridges. This doesn't make it a bad spending habit. They can't have money and not use it to solve the problems it can solve. Everybody wants a better quality of life and once they have money they will try to make sure they live better, that's the whole essence of working.
It's even economically better to buy stuff once in bulk when there's money instead of buying in small quantities every time.

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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 don't think they always have something that they don't need. If you are saying this only because they were buying luxurious things then it is normal for most people to act like this when they get their salary. People do this because of their lack of financial knowledge or because they don't care to change their financial status. Sometimes people bring something that only brings liabilities but they still want to buy it because they want comfort in their lives.

I usually try to manage my monthly expenses in such a way that i have some money left at the end of the month to invest in stocks or crypto. Most of the time the amount is very small so I use three or four months of savings to buy an asset.

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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?

I guess each of us is in a different situation, in my house, I am the only one who is working... wife is at home with two small children who are growing up and asking for more and more. So they wait for that day definitely, and when it comes they remind me about all the promises I made through the last month... so I am in that group that spends more money when I get my salary. But I guess that is a normal thing for the majority of people at the moment, it seems to me that it was easier before, but since the prices of everything have gone up, money is melting at an insane speed, it's hard to keep up.

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There is a remark that going to the store not every day saves more money than shopping every day. If you go out every day to buy bread, for example, you may certainly have a desire to buy another thing that is really not needed at the moment. But the way you decide what people need or not is wrong. Perhaps they postpone shopping until certain days, and that's when you get the feeling that people are wasting money. By the way, your father, since he is so observant, should raise prices on goods on days that are popular with buyers. This way, you can disrupt their shopping pattern and also make more profit if people consistently buy at the same time.

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In my opinion, this is a common thing and almost everyone who has a monthly salary will do this, because the beginning of the month is a good time to buy things you want or need. And does the OP know they're buying things they don't need? I think workers now have a different mindset because the economy is not good and they will definitely buy things that they need or want, not because they don't really need them.
They work and there is definitely a desire to buy something that others might consider unimportant. However, they consider it important and enjoyable and like it and this is natural because they want to fulfill their desires and needs from the results of their work which may have been considered and detailed beforehand.
Because I do too. So when I buy something that I want and often and some people think it's not important, even though for me it's important and I like having it. And that doesn't mean I don't budget for my needs and other things, including savings and investments because those have been thought about and detailed beforehand without omitting other important things.

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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?

Sometimes there environment push them to do that because they think its better for them to satisfy theirselves by buying their want since it can make them happy especially if there's people appreciate their owned items. But no attitude like that would last since if those guys would realize that they need to mature and stop spending on thing they want but instead buy only their needs for sure they get more better.

That's the reason why businessman know how to deal with those people since they always join the latest trend that's why many people think about having that since they think its important that they have that items so that they will not left behind on what's new today.

But for me I'm done with that stage and its good that I know bitcoin since what I always thinking right now is where I should invest my money so that it can generate another income. If these guys will think about this for sure they get more better output in life.

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My approach is different and I am not the same just as the people that you have mentioned. But I have seen that attitude towards receiving salary and spending it asap just because they want to. In my past job like more than a decade ago, I have got colleagues that are like that. They bought new shoes, newest gadget, etc. You know all of those stuff, that do not appreciate in value. It is more of their wants than their needs and they spend like there is no more tomorrow and that is because they are thinking that payday is going to come within a few days until it becomes a habit which is hard to change.

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In my opinion, I feel that I have been spending a significant amount of money in recent days It's so natural; it depends on the size of your budget If you have more money, everything becomes easier for you, You may not even consider the idea of stopping. but it's not a good practice at all. You risk losing control and compromising your daily routine and efficiency.

In gambling addiction, we often observe this kind of spending behavior, but it's depends of luck, and expecting positive outcomes is not a reliable approach

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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 because that's the time that they are able to do grocery shopping and paying bills because they're already paid from their hard work and that's normal for a people who's having a stable job. Just like what I did, once I received my paycheck, I already have my list of what should I've supposed to do with my hard earned money, Top of my list is paying monthly bills, allotted money for the grocery and savings. It became a monthly habit for some people and I think they can manage well their finances even if they spend much during their payday.

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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?

Your way of thinking sees other people buying things you don't need even though for them it might be very important. Does your father's grocery store prohibit large purchases? No, it actually provides benefits and buyers feel satisfied with the product they are looking for. Your father is still happy because his goods are selling well, right? I don't think this can be generalized as overbuying.

So it's not about buying things you don't need, but about what you need differently from other people's needs.

Do you ask the person directly why they are buying items in large quantities? It could be that the goal is to meet your needs for 1 month or you have a large family so you have to shop in large quantities.

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People on monthly salaries often spend a lot when they first get paid due to a phenomenon known as "income effect." When people receive their paychecks they experience an increase in available funds which can lead to a temporary feeling of financial abundance. This may trigger a desire to reward themselves or indulge in immediate gratification by splurging on purchases they have been delaying. There might be pressing financial obligations or bills that need to be addressed resulting in a significant portion of the paycheck being allocated towards necessary expenses. The combination of these factors can contribute to a higher level of spending during the initial period after receiving a monthly salary.

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It is also common here in my country. I am also not saying it is bad because some of them are probably doing well financially and maybe they are just rewarding themselves during pay periods. What is bad is when people spend a big chunk of their salaries during salary periods and then later end up borrowing money because they cannot sustain the regular expenses before the next payroll.

Borrowing money for regular expenses is the worst mentality. Which is why a lot of people are suffering financially here in my country. It is understandable in emergencies and some urgent events but aside from that people need to stop borrowing money, especially credit cards.

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Overspending has a huge impact on the economy and the country is likely to become poorer if inflation occurs. You have to spend more currency than before to buy the same amount of goods this means the price of goods will increase. All in all the value or purchasing power of that currency will decrease no matter how rich a person is if he spends more money than he needs he will gradually run out of money. Hence create a monthly budget for shopping without overspending don't spend even a single rupee beyond the fixed budget. In this way it is possible to rein in costs create a specific savings goal set aside in advance to save a certain salary goal and spend the rest. By doing this even if the economy is bad it will be easy to prevent your condition.

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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.

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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 don't really know how you came to the conclusion that they don't really need what they are buying. Using your father's grocery shop as an example is not valid because groceries are an essential need. Usually, people always buy what they need at the end of the month when they receive their pay. My family makes a list of what is needed for the month and it is bought immediately after salaries are paid.

There are also people that a wasteful spenders. They don't plan how to spend what they earn and don't even save for the future. I know some people who drive straight to nightclubs immediately after they receive their salaries. They are not concerned about investing or having emergency funds. These set of people buy not because they need it but because they can afford it. In most cases, they will access loans or credit before the end of the month because of careless spending.

I live in a country where if don't plan, you will end up a debtor or a beggar. The economic situation has forced most people to spend only on what they need. I have a monthly budget that enables me to spend only what I need and also assist me in keeping aside funds for investment and emergency. There is no difference between my payday and other days because I already have a plan.

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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?

My case is different because I have streams of income, and I don't depend on a monthly salary. Also, your family may not be relying on the payday which is why it might not be obvious to you. Those whom you are referring to are paid job employees, there might have been a long list of what they need, which could be a pressing one or needed for the whole month. It happens everywhere, not only in your country, there are needs and wants every time, but to them, money is a constraint which is being solved when they receive their monthly salaries.

For those who are business people or are financially free and not depending on the monthly salary, you would never know their spending culture because they get what they want when they want it. Even if they spend more on frivolities than those who depend on their payday, you will definitely not know because there wasn't a time limit for their financial freedom.

Payday or should I say payment week is also the week that ATMs are mostly busy and debt paid in my country. It's also the time that sellers claim they record the most sales, which I believe is normal and for obvious reasons.

Topic: this makes a huge impact on the economy. - page 6. (Read 823 times)