Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: Penlex_Writer on December 25, 2024, 01:34:02 AM
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
yes money is for spending you are very welcome to spend your money but it should be spent where you will earn profit from in short investing is better than saving find ways to make your double and make spending it worth it that is how your money will grow and not just from simply saving the money it could be about active or passive incomes but make sure it benefits you either way
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Spending money is not bad, but the investment as long as your investment portfolio continues to grow, you can spend your money as the human psyche tends to reward for more effort.
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Spend money when you have tons of money sitting in your Bank account or just be very picky until you reach the status of don't really care about the price tags. People who are getting paid in salary are the real target of every products, they buy everything that's advertised and justify that purchase even if it's evident that they are paying too much for the product and the perfect example for this is Apple products which sell all their products at premium prices but still people consider if they don't have one then people think less of them.
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Yes you’re right. Spending wisely and saving is the key. It’s better to focus on things that add value rather than just wasting money on trends or unnecessary stuff. Planning ahead really helps secure the future.
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Spending money is not bad, but the investment as long as your investment portfolio continues to grow, you can spend your money as the human psyche tends to reward for more effort.
Spending money wisely is really a perfect and healthy habit to practice. Most people who spend money lavishly really have more of it that why they spend it lavishly but when you have little you conscious will judge you and you will spend it wisely
But trying to spend wisely is really hard for some people but when we practice it as a habit we will surely get it done. Spending wisely is really helping. We spend less for the nearest future not to get broke.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
Saving money isn't the solution to counter inflation we only save money for emergency funds, we spend less because we want to make sure we prioritize our needs but it is wise of us if we have to invest to atleast make passive income because inflation keeps our money depreciate it's value over time.
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... spend less and save more,
Spend less and invest more, not save more. Money saved does not get as much profit on it as you would if you had invested the money in something very profitable.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
Spending money isn't a wrong thing to do and just like you mentioned , spending in an unwise manner is what's wrong. Often times what is considered as an act of unwise spending is when you prioritise liabilities over assets. I think this is another concept of key importance that many people don't understand properly. The simple explanation is liabilities require more money than assets to be constantly spent.
Aside from all these, liabilities sometimes lose value or devaluate greatly when they are used or kept over time unlike assets that are aimed at neutralising the negative effects of inflation on value.
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At a time of economic hardship and poor economic policies where Nigerians can hardly make earns meet I think it's very important to spend selectively and wise. It's important for people to spend money on what is necessary and not luxury.
Spending wisely will encourage savings and will also help meet up emergency needs
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I don't know if my spending can be considered wise or not, but so far I've always allocated 20% of my monthly income for future usage, 10% for emergency needs, 40% for monthly spending, and the rest for investment/buying stuff for entertainment. It helps that most of my income is in crypto, so I don't have to spend fees to convert fiat into crypto. On the other hand, it's harder to follow my monthly plan to a T because real life never follows your prediction at all. For example, my family got sick a few months ago, and I need to spend more than usual to buy stuff for their recovery. I spent more in those months compared to the last 6 months before that.
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I don't know if my spending can be considered wise or not, but so far I've always allocated 20% of my monthly income for future usage, 10% for emergency needs, 40% for monthly spending, and the rest for investment/buying stuff for entertainment.
your ratio of savings to monthly income is actually quite impressive you must not be someone who spends so much on food or basic things or unnecessary expenses i admire that because some find a hard time trying to balance paying for things they need and don’t need
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I don't know if my spending can be considered wise or not, but so far I've always allocated 20% of my monthly income for future usage, 10% for emergency needs, 40% for monthly spending, and the rest for investment/buying stuff for entertainment.
your ratio of savings to monthly income is actually quite impressive you must not be someone who spends so much on food or basic things or unnecessary expenses i admire that because some find a hard time trying to balance paying for things they need and don’t need
Well yeah I agree he got nice budgetting ratio and that is impressive because I personally do not have that kinda stuff I only focus on my monthly bills and daily needs, no emergency funds and I stay most of the time in the house you know a frugal way of living because I only have limited source of income that is why I need to be as thrifty as I can.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
Saving money isn't the solution to counter inflation we only save money for emergency funds, we spend less because we want to make sure we prioritize our needs but it is wise of us if we have to invest to atleast make passive income because inflation keeps our money depreciate it's value over time.
I agree with you. It's better to invest your extra cash than saving it. Maybe, that's what the OP meant. However, investing in bitcoin for long will be a good way to save our extra funds from inflation because of you only keep it in the bank, it's gone be worthless overtime. Anyone investing and is serious on it, will spend wisely because he has where he is putting his money into.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
yes money is for spending you are very welcome to spend your money but it should be spent where you will earn profit from in short investing is better than saving find ways to make your double and make spending it worth it that is how your money will grow and not just from simply saving the money it could be about active or passive incomes but make sure it benefits you either way
totally agree,as i said money is meant for spending,but is to spend it for what gives you a better benefits or value than just saving it in the bank for just a little interest.
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Spending money is not bad, but the investment as long as your investment portfolio continues to grow, you can spend your money as the human psyche tends to reward for more effort.
yes spending the money is not bad,once your money is been invested to bring more money you can spend,but still spend wisely.
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At a time of economic hardship and poor economic policies where Nigerians can hardly make earns meet I think it's very important to spend selectively and wise. It's important for people to spend money on what is necessary and not luxury.
Spending wisely will encourage savings and will also help meet up emergency needs
yes it's the economy hardship that will lead to wise and less spending and more of savings and investments.
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I don't know if my spending can be considered wise or not, but so far I've always allocated 20% of my monthly income for future usage, 10% for emergency needs, 40% for monthly spending, and the rest for investment/buying stuff for entertainment.
your ratio of savings to monthly income is actually quite impressive you must not be someone who spends so much on food or basic things or unnecessary expenses i admire that because some find a hard time trying to balance paying for things they need and don’t need
i get your points,spending of money sometimes is not predictable,emergency makes us to spend,but the money spending at that moment is been recorded for an important purpose not just a random spending for nothing,so our spending should be for a relevant purpose not just an extraneous materials
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
yes money is for spending you are very welcome to spend your money but it should be spent where you will earn profit from in short investing is better than saving find ways to make your double and make spending it worth it that is how your money will grow and not just from simply saving the money it could be about active or passive incomes but make sure it benefits you either way
totally agree,as i said money is meant for spending,but is to spend it for what gives you a better benefits or value than just saving it in the bank for just a little interest.
The world is currently suffering from serious inflation as there's lots of more chasing fewer goods, the current state of the economy have advised people naturally to spend wisely
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
Money is indeed meant to be spent, but it's important to spend it wisely and judiciously. This means being mindful of our expenditure habits and avoiding lavish or unnecessary spending. By doing so, we can prevent financial waste and make room for saving, which is an essential aspect of personal finance. If you prioritize saving, we will have something to depend on during unexpected expenses or financial downturns.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
yes money is for spending you are very welcome to spend your money but it should be spent where you will earn profit from in short investing is better than saving find ways to make your double and make spending it worth it that is how your money will grow and not just from simply saving the money it could be about active or passive incomes but make sure it benefits you either way
totally agree,as i said money is meant for spending,but is to spend it for what gives you a better benefits or value than just saving it in the bank for just a little interest.
The world is currently suffering from serious inflation as there's lots of more chasing fewer goods, the current state of the economy have advised people naturally to spend wisely
Yeah, money is for spending, but it’s better to spend it on useful things that can help you make more money. Just saving isn’t enough, especially with prices going up. Investing in good things is a smarter move.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
One thing that most people don't know is that money is not ment for spending but money is used in creating value for your self and investment apart from these two things any thing that money is used in is not necessary and needed because anyone in the act of spending money with out adding value to himself maybe through the things that he spends his money on like learning a skill or even taking an course on a particular area to with the sole purpose of improving one self should is not wise in spending money
Because the truth is that life is full challenges and problems so you can't practically remove all your problems with money so the best you can do for yourself is by using money in a way that will add value to yourself this can be done through investing the money in your hand into something that will be of benefit to yourself for the purpose of tomorrow
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Yeah, money is for spending, but it’s better to spend it on useful things that can help you make more money. Just saving isn’t enough, especially with prices going up. Investing in good things is a smarter move.
Right, although savings is okay but that means your money will be stuck on that amount for so long (depends on the time it will be used).
Investing is the best way with risk moderation to be considered then upgrade risk management to aggressive.
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One thing that most people don't know is that money is not ment for spending but money is used in creating value for your self and investment apart from these two things any thing that money is used in is not necessary and needed because anyone in the act of spending money with out adding value to himself maybe through the things that he spends his money on like learning a skill or even taking an course on a particular area to with the sole purpose of improving one self should is not wise in spending money
If you use money to create value for yourself, you are still spending, but it is spending in the right direction, as it will produce results. When you add value to yourself, you undoubtedly gain an advantage over others. However, there are times when someone needs to have a good time, as the saying goes, "all work and no play..."
Life is not all about investing and spending wisely. I do not believe that investing brings happiness because it entails depriving oneself of certain types of happy moments, and it is therefore necessary for a person to always seek out time to enjoy them.
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Spend wisely needs a budget planning to have it accomplished because your expenses for the day needs to be tracked and you prioritize your needs over wants.
Spending wisely requires someone having a financial plans they should set like, avoiding debts, staying informed and be ready for new opportunities that comes their way
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Spend wisely needs a budget planning to have it accomplished because your expenses for the day needs to be tracked and you prioritize your needs over wants.
Spending wisely requires someone having a financial plans they should set like, avoiding debts, staying informed and be ready for new opportunities that comes their way
Budgeting helps a lot in terms of spending, Creating a well informed budget is an excellent and perfect way to manage your spending effectively. When you plan a budget carefully, you will be able to allocate your money wisely, making sure that you are using it for essential expenses and saving some potion for important goals. A good budget will help you prioritize your spending, and it will prevent you from wasting money on unnecessary items, and it will also help you to make conscious financial decisions.
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Budgeting helps you to regulate how you spend your money as money will be channelled into what you have pen down as needs there by effectively helping you to reduce waste of money that would have happened when there was no budget to check mate how money is been spent. One of the distinguishing factors that helps people to stand firm financial is budgeting because budgets also make you to have goals that you will focus more on
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
Without a balance between income and expenses, no one has ever been able to live a proper daily life. Those who cannot properly reconcile their income with their expenses can never save for their family life. Saving for family life is very important, so those who will spend must create a balance sheet or budgeting sheet before the month and then spend. If someone does not spend wisely and intelligently, it is not possible to build a savings fund for their family. However, the ratio of income and expenditure must always be according to the budget.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
The future is invincible, it cannot be seen so it better to spend less today and keep for that invincible day so as not to get choked and begin to beg other around you. For example is you are receiving 10 million dollars every month be sure to always keep at least 30 percent of the money every month so that when the case of emergency comes one will not be stuck or surprise. A wise spender are future kings and queens.
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Right, although savings is okay but that means your money will be stuck on that amount for so long (depends on the time it will be used).
Investing is the best way with risk moderation to be considered then upgrade risk management to aggressive.
The first thing that should be considered before deciding whether to save or invest is the person’s financial goals, whether it’s long term or short term. If it’s short term and it’s money the person intends to spend quite sooner, then savings would be a much better option. Savings doesn’t necessarily mean it should be in fiat, it could be in a stable coin, and if the person’s goal is long term, then they may consider investing the money, rather than savings.
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yes it's the economy hardship that will lead to wise and less spending and more of savings and investments.
You might also consider past experiences regardless of events and stuff that leads us to think saving would be the answer if investing isn't an option. Sometimes economy is good but the way we live, think and act is what makes hardship our common playground.
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You might also consider past experiences regardless of events and stuff that leads us to think saving would be the answer if investing isn't an option. Sometimes economy is good but the way we live, think and act is what makes hardship our common playground.
This is very true. An extravagant spender regardless of how much he makes would always feel like it’s not enough. There are people who are used to spending my on irrelevances, which makes them to quickly run out of cash due to poor financial management and planning and then they often blame it on the economy.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
Well said. Money shouldn't be spent on thing which cannot bring in more money, imagine a family man who earns 500 thousands naira every month and his goal is to buy a car worth 10 million naira, when he doesn't have a house of his own as well as investment for the future. Personally speaking, I don't think it is a wise decision, priority matters so as far as money is involved, first of, he should start even if it is little and make investments that will later yield more and more money in the future, from this extra money gotten, he can then consider to getting a car, or any other thing he fancies.
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This is very true. An extravagant spender regardless of how much he makes would always feel like it’s not enough. There are people who are used to spending my on irrelevances, which makes them to quickly run out of cash due to poor financial management and planning and then they often blame it on the economy.
some people who are extravagant spenders however do have almost an unlimited amount of money maybe from their family’s income so no matter how much they spend they usually do not learn how wasteful they are because they do not run out of money
while those who are poor will quickly realize how bad it is to spend so much when you could barely buy something you need
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That is true because those who where Born with golden spoon will not understand what it takes to
This is very true. An extravagant spender regardless of how much he makes would always feel like it’s not enough. There are people who are used to spending my on irrelevances, which makes them to quickly run out of cash due to poor financial management and planning and then they often blame it on the economy.
some people who are extravagant spenders however do have almost an unlimited amount of money maybe from their family’s income so no matter how much they spend they usually do not learn how wasteful they are because they do not run out of money
while those who are poor will quickly realize how bad it is to spend so much when you could barely buy something you need
That is true because those who are born with golden spoon will not understand how hard it's a find money of your own and get it so they can buy the latest designer of their choice and throw up party not minding how much they spend in the process this are mainly individual that comes from a family where their parents has Left generational wealth for them to spend but this is not the case with someone who is struggling to earn a living
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some people who are extravagant spenders however do have almost an unlimited amount of money maybe from their family’s income so no matter how much they spend they usually do not learn how wasteful they are because they do not run out of money
Well that’s true, but not until they eventually start making money by themselves, and if they’re already used to spending their money extravagantly from their parents income, it suddenly becomes a problem for them and they eventually realize how much of a mistake they’ve been making and then, it becomes difficult to adjust.
Most of the times, even rich parents, regardless of how wealthy they are, often tend to monitor their children’s spending habits so as to ensure that they’re actually spending on things that really matters and not on irrelevances.
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some people who are extravagant spenders however do have almost an unlimited amount of money maybe from their family’s income so no matter how much they spend they usually do not learn how wasteful they are because they do not run out of money
Well that’s true, but not until they eventually start making money by themselves, and if they’re already used to spending their money extravagantly from their parents income, it suddenly becomes a problem for them and they eventually realize how much of a mistake they’ve been making and then, it becomes difficult to adjust.
the thing is even if they start earning money and the money they are spending have now become the money they have been making money for themselves they will still spend extravagantly because even when they lose all their money they have their parents' money to fall back on
Most of the times, even rich parents, regardless of how wealthy they are, often tend to monitor their children’s spending habits so as to ensure that they’re actually spending on things that really matters and not on irrelevances.
responsible parents will do that but i have seen a fair share of rich families to say that a lot of them tolerate the irresponsibility of their kids and always help them even when they are adults and while parental love is appreciated they should still discipline their kids as it is only for the best as well
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This is very true. An extravagant spender regardless of how much he makes would always feel like it’s not enough. There are people who are used to spending my on irrelevances, which makes them to quickly run out of cash due to poor financial management and planning and then they often blame it on the economy.
Yeah exactly we may know people around us doing that and I personally admit that I was once experienced overspending and that is very terrible especially the outcome. I've learned from that miserable experience of mine and that will never happen ever again.
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This is very true. An extravagant spender regardless of how much he makes would always feel like it’s not enough. There are people who are used to spending my on irrelevances, which makes them to quickly run out of cash due to poor financial management and planning and then they often blame it on the economy.
Yeah exactly we may know people around us doing that and I personally admit that I was once experienced overspending and that is very terrible especially the outcome. I've learned from that miserable experience of mine and that will never happen ever again.
Learning and taking correction from our mistake is very important because it will be as a guide to us going forward, when it comes to financial spending Many people don't get it right because it's learnt from when we where small so the people who lent from matters a lot , this is the more reason that as parents it's important to inculcate good values to your childrens by trying to live a life of discipline when it comes to financial matter's
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responsible parents will do that but i have seen a fair share of rich families to say that a lot of them tolerate the irresponsibility of their kids and always help them even when they are adults and while parental love is appreciated they should still discipline their kids as it is only for the best as well
Normally, no parents regardless of how irresponsible of their kids turn out to be will turn their backs on them, but parents should try as much as possible to strike a balance between protecting their children’s interests, supporting their children and abating their children’s reckless and irresponsible behaviors when it comes to finances and basically every other areas of life because there might come a time when they can’t always be there for them, no one is praying for such situations but it’s important to prepare them for such situations just in case it arises because if they’re not prepared for it, and they finally get to face that situation, it’ll definitely become a problem for them.
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Learning and taking correction from our mistake is very important because it will be as a guide to us going forward, when it comes to financial spending Many people don't get it right because it's learnt from when we where small so the people who lent from matters a lot , this is the more reason that as parents it's important to inculcate good values to your childrens by trying to live a life of discipline when it comes to financial matter's
Yeah, discipline really matters not only financially but our whole life. Overspending is one of the most common thing people are doing even in a tight situation maybe because it is a habit and for those who really are thrifty or living in a frugal life they might have that virtue which is very important especially in the current situation where there's economic and political unrest.
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Yeah exactly we may know people around us doing that and I personally admit that I was once experienced overspending and that is very terrible especially the outcome. I've learned from that miserable experience of mine and that will never happen ever again.
Everyone ever made a mistake. It is normal if we are sometimes overspending. This can happen if we suddenly have urgent needs. We can't refuse it, we must spend bigger funds. As long as it is not a habit, I think there is no problem with this. Moreover if we can take a lesson from the mistake. So we can prevent the same case in the future.
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Yeah exactly we may know people around us doing that and I personally admit that I was once experienced overspending and that is very terrible especially the outcome. I've learned from that miserable experience of mine and that will never happen ever again.
It’s a terrible experience indeed. Because no matter how much earn, it’s never enough and they’ll keep wanting more and more, and sometimes it could even lead to indulging in some illegal activities or businesses in a quest to increase their incomes in order to fuel their extravagant lifestyle.
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Everyone ever made a mistake. It is normal if we are sometimes overspending. This can happen if we suddenly have urgent needs. We can't refuse it, we must spend bigger funds. As long as it is not a habit, I think there is no problem with this. Moreover if we can take a lesson from the mistake. So we can prevent the same case in the future.
Yeah I agree with the phrase "as long as it is not a habit" it's all good because that only mean we have to consider important things especially it it really is a need not just wants. I know most optimistic and wise people only prioritize personal and family's needs so yeah acceptable.
It’s a terrible experience indeed. Because no matter how much earn, it’s never enough and they’ll keep wanting more and more, and sometimes it could even lead to indulging in some illegal activities or businesses in a quest to increase their incomes in order to fuel their extravagant lifestyle.
Well yeah, since there are two types of people the disciplined one and the other with this "one day millionaire" habit we chose our future from that scenario and of course we all know the first one will surely get the best result in the long run and it's up to us whether we chose the first or the second.
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Well yeah, since there are two types of people the disciplined one and the other with this "one day millionaire" habit we chose our future from that scenario and of course we all know the first one will surely get the best result in the long run and it's up to us whether we chose the first or the second.
Without a single doubt, applying discipline in whatever one does always yields better results. Because it’s discipline that makes a man to think about every decisions and choices and determining whether or not it’ll yield a good outcome before moving forward to implement them. So whatever a person does without involving discipline will surely not have the best results.
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You might also consider past experiences regardless of events and stuff that leads us to think saving would be the answer if investing isn't an option. Sometimes economy is good but the way we live, think and act is what makes hardship our common playground.
This is very true. An extravagant spender regardless of how much he makes would always feel like it’s not enough. There are people who are used to spending my on irrelevances, which makes them to quickly run out of cash due to poor financial management and planning and then they often blame it on the economy.
Lavishing money or spending extravagantly has been the habit of some people which is very wrong. In a situation where by someone is spending money without budgeting at the end of the it, the spender will be the one to bear the consequences, because if he spends all he has without thinking appropriately to save some money, what did you think will happen to the person incase of any emergency, or if something urgently arise in future for examples sickness, accidents and so on, how will the person manage the situation with no cash on hand. Budgeting is very important and when creating a budget, consider using a scale of preference by prioritizing the important things, when budgeting don't forget to save some money for future use.
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You might also consider past experiences regardless of events and stuff that leads us to think saving would be the answer if investing isn't an option. Sometimes economy is good but the way we live, think and act is what makes hardship our common playground.
This is very true. An extravagant spender regardless of how much he makes would always feel like it’s not enough. There are people who are used to spending my on irrelevances, which makes them to quickly run out of cash due to poor financial management and planning and then they often blame it on the economy.
Lavishing money or spending extravagantly has been the habit of some people which is very wrong. In a situation where by someone is spending money without budgeting at the end of the it, the spender will be the one to bear the consequences, because if he spends all he has without thinking appropriately to save some money, what did you think will happen to the person incase of any emergency, or if something urgently arise in future for examples sickness, accidents and so on, how will the person manage the situation with no cash on hand. Budgeting is very important and when creating a budget, consider using a scale of preference by prioritizing the important things, when budgeting don't forget to save some money for future use.
That's right because there is need to always spend our money wisely and on purpose always make sure that you have emergency funds Left for the sake of tomorrow so that when you have some issues you can always fall back to your savings, Anyone who has no savings is trending on a very bad road because the person is going to definitely regret the situation later in life
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Lavishing money or spending extravagantly has been the habit of some people which is very wrong. In a situation where by someone is spending money without budgeting at the end of the it, the spender will be the one to bear the consequences, because if he spends all he has without thinking appropriately to save some money, what did you think will happen to the person incase of any emergency, or if something urgently arise in future for examples sickness, accidents and so on, how will the person manage the situation with no cash on hand. Budgeting is very important and when creating a budget, consider using a scale of preference by prioritizing the important things, when budgeting don't forget to save some money for future use.
Indeed, saving for the future should be considered as a very good and necessary step for everyone. But then again, there are people who actually have financial backups, like the emergency funds and other backup funds but still can’t help but to spend extravagantly without proper budgeting, recording or taking note of their spending habit, which may in multiple time result to spending on irrelevancies without even knowing it.
Now the actual question is, what if (for those who have a single source of income) their income stream suddenly for some reasons run dry or is no longer as profitable and productive as it used to be or should be, being an extravagant spender would really make it almost impossible for such a person to manage the situation.
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Now the actual question is, what if (for those who have a single source of income) their income stream suddenly for some reasons run dry or is no longer as profitable and productive as it used to be or should be, being an extravagant spender would really make it almost impossible for such a person to manage the situation.
Yeah but despite the situation I still can see people doing overspending because they showed it all on social media wherein in they spend on something unimportant you know just "wants" not the "need" thing they even look and live great on socmed. Like for example they showed parcels of things delivered by a courier and they do unboxing also and based on my observation they don't really need it and then the sad part is that you can hear directly from them that they are going to borrow money from you because they have something to pay or buy.
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Yeah I agree with the phrase "as long as it is not a habit" it's all good because that only mean we have to consider important things especially it it really is a need not just wants. I know most optimistic and wise people only prioritize personal and family's needs so yeah acceptable.
When it is necessary to spend some amount of money, it is surely okay as long as it is urgent things. Or sometimes we have no chance in a certain situation, we must do overspending. If this happens, I think it is still acceptable. But if it becomes the habit, it will be a problem because we will face a bad issue on the financial stability. By the way, I agree that a good person will prioritize the needs of their family.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
The main reason the rich keeps getting rich is because they simply make their money through investment. A rich guy once said that the average person in the world is not supposed to buy what he can't afford. You have money to buy a car don't mean you can actually buy that car. There are other thing that comes along with owning a car and such having just the money for a certain car in your account and using that fund to get that one car, you end up not being able to afford that car.
Instead, take that money and find something good to invest in. And when you make enough profits from it, you can buy your car and still have something in hand to cover up other expenses that comes with owning a car.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
The main reason the rich keeps getting rich is because they simply make their money through investment. A rich guy once said that the average person in the world is not supposed to buy what he can't afford. You have money to buy a car don't mean you can actually buy that car. There are other thing that comes along with owning a car and such having just the money for a certain car in your account and using that fund to get that one car, you end up not being able to afford that car.
Instead, take that money and find something good to invest in. And when you make enough profits from it, you can buy your car and still have something in hand to cover up other expenses that comes with owning a car.
Very well said, after reading what you wrote I just laughed because I remembered a friend of mine who his desperation for a car made him to get a loan to be able to complete his money to buy a car, after buying the car he had no money left infact he called me most of the times to beg me for money to fuel the car, when he saw he couldn't keep up, he had to sell the car. The very act of desperation blinds the eyes of most youths today making them to think only about the present without full consideration of both the present and the future. If we can consider both the future and present in every of our actions, our spending habit will be adjusted for the better.
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Yeah but despite the situation I still can see people doing overspending because they showed it all on social media wherein in they spend on something unimportant you know just "wants" not the "need" thing they even look and live great on socmed. Like for example they showed parcels of things delivered by a courier and they do unboxing also and based on my observation they don't really need it and then the sad part is that you can hear directly from them that they are going to borrow money from you because they have something to pay or buy.
People spending on irrelevances is not longer news, simply because they wanna impress others or they’re oppressed by others who are living a lavishing lifestyle and so in order to keep up, they also expose themselves to that kind of life.
This is the very reason why I personally avoid looking at what people are doing on social media, because 97% of what is displayed on social media is totally false and misleading, and if you act based on those informations, you could end up being misled and making wrong assumptions which of course may lead to one making a costly mistake.
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Now the actual question is, what if (for those who have a single source of income) their income stream suddenly for some reasons run dry or is no longer as profitable and productive as it used to be or should be, being an extravagant spender would really make it almost impossible for such a person to manage the situation.
Yeah but despite the situation I still can see people doing overspending because they showed it all on social media wherein in they spend on something unimportant you know just "wants" not the "need" thing they even look and live great on socmed. Like for example they showed parcels of things delivered by a courier and they do unboxing also and based on my observation they don't really need it and then the sad part is that you can hear directly from them that they are going to borrow money from you because they have something to pay or buy.
Some people keep spending on things they don’t really need just to show off on social media. They do unboxings and flex their new stuff, but later, they’re the same ones asking to borrow money because they’re short on cash. It’s crazy how they make it look like they’re living well online, but in reality, they’re struggling.
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Lets learn to spend wisely because we only knows about today and tomorrow may turned a mystery to us depending on how we have spent our lives from how we live today, spending should always comes with savings, we should not spend all we have for nothing sake that we later becomes idle doing nothing and earning nothing, we have to learn how we can secure the future by making ever necessary efforts in saving up for tomorrow, so that we don't get hopeless for the future as we don't know what tomorrow may be.
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Lets learn to spend wisely because we only knows about today and tomorrow may turned a mystery to us depending on how we have spent our lives from how we live today, spending should always comes with savings, we should not spend all we have for nothing sake that we later becomes idle doing nothing and earning nothing, we have to learn how we can secure the future by making ever necessary efforts in saving up for tomorrow, so that we don't get hopeless for the future as we don't know what tomorrow may be.
In this kind of inflated economy that we are facing right now, anyone that doesn't spend wisely will have their self to blame at the end of the day when they don't have any penny to even buy what they will eat. The economic situation right now is already making some people to spend above their income because the salary they are earning is not even enough to sustain them for 3 weeks talk less of 1 month before they get another paycheck. With such situation at hand, people are supposed to even spend wisely right now because things so expensive compare to before.
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Some people keep spending on things they don’t really need just to show off on social media. They do unboxings and flex their new stuff, but later, they’re the same ones asking to borrow money because they’re short on cash. It’s crazy how they make it look like they’re living well online, but in reality, they’re struggling.
If we too often spend time on social media, we may lead to buy many unnecessary things promoted in social media. Sure, the social media influence much people nowadays. It is better to limit the time to see the social media, it only leads to unnecessary spending. We can use the social media when it is needed only. Don't waste most of our times to see social media!!
I don't blame the social media, I blame the way to use the social media. We must be wise to use the social media, we have many other activities that they are also needed to be the priority.
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Some people keep spending on things they don’t really need just to show off on social media. They do unboxings and flex their new stuff, but later, they’re the same ones asking to borrow money because they’re short on cash. It’s crazy how they make it look like they’re living well online, but in reality, they’re struggling.
It has become a habit for some people, they only spend their money to impress people, trying to make themselves look superior, and they will use that opportunity to oppresse some people. Saving money have a lot of advantages, if you save some money for future use, you will be able to use it incase of any emergencies. Extravagant doesn't held a positive result, it lead to mental illness. Because in a situation whereby you run out of cash and you are in need of money, you will end up borrowing, which may lead to stress and anxiety if the debt was not settle immediately.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
On point, many don’t know that spending carelessly leads to poverty, that is why is very important to be careful when spending, as people spend, may they also remember the to save, because it will them from unexpected emergency as they can tell when it will hit them or not. So people should do more of saving than spending because the sweetest of material things doesn’t end at all, if they decide to spend all their money because they don’t want to left behind or they want to be noticed, they will go bankrupt and start begging, which might result insults from friends and relatives, but to avoid that is just by doing more of saving when spending and they won’t go broke again.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
On point, many don’t know that spending carelessly leads to poverty, that is why is very important to be careful when spending, as people spend, may they also remember the to save, because it will them from unexpected emergency as they can tell when it will hit them or not. So people should do more of saving than spending because the sweetest of material things doesn’t end at all, if they decide to spend all their money because they don’t want to left behind or they want to be noticed, they will go bankrupt and start begging, which might result insults from friends and relatives, but to avoid that is just by doing more of saving when spending and they won’t go broke again.
Some people lacks the mindset of savin and investing today for the future. Instead, whatever they have today, they prefer to finish it and wait for a new one tomorrow whoch tbey ain't sure of. It's the way that you your bed is how you will lie on it. If you are making money today and you eat up everything forgetting about tomorrow, you might suffer at old age.
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Some people lacks the mindset of savin and investing today for the future. Instead, whatever they have today, they prefer to finish it and wait for a new one tomorrow whoch tbey ain't sure of. It's the way that you your bed is how you will lie on it. If you are making money today and you eat up everything forgetting about tomorrow, you might suffer at old age.
Correct, whatever thing that one sow, so shall it they reap, that is why it’s good to always work harder, not only for today but also for the future because you can’t tell what tomorrow hold. So whatever thing that you doing, do and remember that there is tomorrow, so that you won’t go broke tomorrow, you will still have something that you can still hold and also that whatever thing you are doing, always have an alternative incase one fade, you can hold on other.
That is why it’s so important to always have a saving and prevent you from suffering just as you said.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
One thing that I noticed about having a lot of money with you is that you will be prone to reckless spending, most especially if the money wasn't gotten with much stress, if though it was gotten with much labour and stress the propensity to spend it anyhow, especially when one do not keep a monthly or daily spending record.
Extravagant lifestyle may seem fun at first but it is very bad, you are wasting resources that you are meant to keep and save for the future. Even God is against wastage.
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Extravagant lifestyle may seem fun at first but it is very bad, you are wasting resources that you are meant to keep and save for the future. Even God is against wastage.
True. If we don't have the discipline in us I don't think we can survive having a lavish lifestyle with just minimum source of income not unless we are an heir or belongs of a wealthy family but you know riches won't last if habits are unchanged.
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If you have money and knows the value of what you had, how it costs you to make some money and how long you have been without having money, then no one should tell us we have to spend wisely because of being broke, I had happened on several occasions whereby some people were once rich and later turned poor because of poor management of their resources, that is why we must learn to spend wise in other to save the future.
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One thing that I noticed about having a lot of money with you is that you will be prone to reckless spending, most especially if the money wasn't gotten with much stress, if though it was gotten with much labour and stress the propensity to spend it anyhow, especially when one do not keep a monthly or daily spending record.
Yes definitely reckless spending is very bad and when someone is doing it you will be thinking that there is no way the money will finish and when there is no more funds then they will see the bitter side of reckless spending because you can imagine how it is to afford anything you want and latter you cannot even afford the basic things, that's what we traditionally called from grace to gras, with the challenges in the world is even a big lesson to spend wisely because you don't no how it will be tomorrow, so there is need to plan against dry economy.
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From every money one receives or get, not all is yours, because you will buy things that will be needful, very import, those not necessarily important and those that are of no need to buy. In every money received, the one that is kept is my own, while the rest are to be used for life's needs/wants. Because it is to be used, it has to be for something that are of necessity, and not for luxury when you know your income worth. Though, one may want to applaud him/herself after achieving a certain goal that was set before-hand.
It is okay to spend, but only when it is necessary to do so, and not for a show-off thing, because you want to prove to some folks that you don't know how they go around their financial life.
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Money are made for spending but spend less and save more,spend for something lucrative and not just a materialistic things that brings no benefits or value to you,some people spend there money without planning,why some spend because people are spending,the future is far ahead that's why we spend less not to get broke in time to come.
yes money is for spending you are very welcome to spend your money but it should be spent where you will earn profit from in short investing is better than saving find ways to make your double and make spending it worth it that is how your money will grow and not just from simply saving the money it could be about active or passive incomes but make sure it benefits you either way
Absolutely right, money is for spending but spending it rightly brings more money or even help people to save and know how to manage well.
But most people lack the aspect of spending wisely, these kind of persons believe to spend their money today, that tomorrow will tell, forgetting that spending carelessly can make one to go bankrupt or become broke because the fail to realize the part or the value of spending wisely and this can even lead one into debt, depression etc because they always hope for tomorrow which they are not sure what it might bring whether good or bad.