Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: Didia Sofunichi on January 05, 2025, 10:49:15 AM
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Buy what you need not what you want. Globally the world is facing the worst kind of inflation in history and humans are going through their worst economic experience.
People need to be careful with finances expecially to be able to deal with emergency period. Needs are necessities but wants are luxury.
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people find a difficult time differentiating what they need or what they simply want the human mind can make up excuses or justifications just for you to buy something
my advice would be to not get caught up with the trends and whatnot because those are the things that will have you wanting to buy things others buy just so you can stay in trend
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Buy what you need not what you want. Globally the world is facing the worst kind of inflation in history and humans are going through their worst economic experience.
People need to be careful with finances expecially to be able to deal with emergency period. Needs are necessities but wants are luxury.
As a person who has learned the past mistakes of overspending I am now living in a frugal and comfortable lifestyle. Since my income isn't that much I can't afford to waste my hard earned money for nonsense things I don't even go outside not unless I have important matter to attend. Even the intensity of crisis I can still see people on social media having this lavish lifestyle even though they don't have enough in real life but we can't blame them for that it's just that maybe they are prepared for the worst already and I am not. 😅
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I hear you. I have been watching news from US to EU and Asia, every country has been facing the same issues from job loss to food shortage since the start of COVID down to Ukr Russia war.
People are living paycheck to paycheck so saving the money every possible way is an opportunity to do until the worse is over.
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Stick to buying what you really need, not just what you want. Things are getting super expensive everywhere, and a lot of people are struggling with money. Be smart with your cash, especially for emergencies. Needs come first wants can wait.
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people find a difficult time differentiating what they need or what they simply want the human mind can make up excuses or justifications just for you to buy something
my advice would be to not get caught up with the trends and whatnot because those are the things that will have you wanting to buy things others buy just so you can stay in trend
Exactly, the way the economy is evolving, and prevailing hardship have made life increasingly complicated for people. As a result, many or a lot of people find it extremely challenging/ difficult to distinguish between their wants and actual needs. That's why budgeting is important. Without a budget, receiving a sum of money can lead to impulsive spending on unnecessary items. When money is readily available without a plan, it can be overwhelming and cloud our judgment, making us more likely to spend impulsively and unwisely.
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People misplace their priorities, and as a result, they end up purchasing items they want rather than necessities, sometimes for the sake of bragging. Some people are already learning the hard way because of the pressure they feel when they buy what they want rather than what they need because, in the end, you will still buy those needs, and when you do not have the money, you become stressed and regret buying those wants.
I have seen cases where someone purchased something and then sold it a week later to buy something else. This situation is obviously one of purchasing wants instead of needs and having to sell the wants in order to pay for the needs.
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Buy what you need not what you want. Globally the world is facing the worst kind of inflation in history and humans are going through their worst economic experience.
People need to be careful with finances expecially to be able to deal with emergency period. Needs are necessities but wants are luxury.
the inflation of prices are getting worst by the day,if the money you have is not enough you can't buy what you want,instead you go for what you need,i agree with you.
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The inflation rate is on the rising side but also people who buy Iphone or going to fancy restaurants has increased tremendously which is happening due to the credit cards and micro loans. People have been abusing their opportunity and let the companies to make more money and they just stuck in the debt spiral forever.
It's natural and they only change when things go out of hands like if they lost their job and suddenly feel the difficulty of survival then only they realize the importance of savings.
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The inflation rate is on the rising side but also people who buy Iphone or going to fancy restaurants has increased tremendously which is happening due to the credit cards and micro loans. People have been abusing their opportunity and let the companies to make more money and they just stuck in the debt spiral forever.
It's natural and they only change when things go out of hands like if they lost their job and suddenly feel the difficulty of survival then only they realize the importance of savings.
You're right, people tend to spend too much with credit and only realize the problem when something bad happens, like losing a job. That's when they understand why saving is important. It’s a hard lesson, but sometimes that’s what it takes.
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You're right, people tend to spend too much with credit and only realize the problem when something bad happens, like losing a job. That's when they understand why saving is important. It’s a hard lesson, but sometimes that’s what it takes.
Nowadays people tend to use loan to buy things that does not make gains or a passive income, some may use it to pay another loan and that is what they used to and sometimes they refuse to pay just by hiding from collectors which is funny but that is really happening here in my community. Only few are having the will to save and think for the coming days like ants do. We do have loans as well but we pay not because we can but because it is an obligation. I agree that saving is good but investing is I think way better, the only problem is that, only few knew how to do it. That is why I am happy that I came across forums because there's a lot of brilliant ideas being shared all over the boards. Financial literacy is what we need to survive crisis and stuff.
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Cutting your coat according to your size is a lesson everyone is learning these days. Few people are buying what they want; most are buying only what they need, not to impress others or to elevate their status.
Both the rich and the poor are sharing their concerns about global inflation with one another on how it is affecting the world economy and causing prices of things to rise significantly.
This makes it indeed a challenging moment that everyone is facing. No one wants to feel superior to their brother or sister when it comes to buying things to impress
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Buy what you need not what you want. Globally the world is facing the worst kind of inflation in history and humans are going through their worst economic experience.
People need to be careful with finances expecially to be able to deal with emergency period. Needs are necessities but wants are luxury.
There are people who are still able to afford their wants just as they can afford their needs in this period where we claim that there's a lot of economic hardship. The truth is that it is not everyone that is affected and while some other people are complaining some other people are busy enjoying the money they're making in this period. if you know that you are not yet financially comfortable, do not fall under the pressure of following others who are in a more comfortable position than you financially to purchase wants.
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Stick to buying what you really need, not just what you want. Things are getting super expensive everywhere, and a lot of people are struggling with money. Be smart with your cash, especially for emergencies. Needs come first wants can wait.
Financial management is very important for one to be able to manage his resources wisely and avoid unnecessary spending on wants. The best way to avoid unnecessary spending is for you to look for a way to save your discretionary income or invest it into bitcoin with DCA so that you can be discipline on how you spend funds and channel them yo to the right thing.
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Financial management is very important for one to be able to manage his resources wisely and avoid unnecessary spending on wants. The best way to avoid unnecessary spending is for you to look for a way to save your discretionary income or invest it into bitcoin with DCA so that you can be discipline on how you spend funds and channel them yo to the right thing.
I agree, budgetting is the most difficult thing to do whether you have much money or less because it requires discipline to do so. For me I always prioritize my needs when I go outside and buy groceries and I make it good enough for me and lasts atleast one week so I am not gonna go outside all the time because you know liability always follow us whenever we go. 😅 I always have lists of what I need so that I am gonna bring enough money for that so no reason for extra spending.
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I agree, budgetting is the most difficult thing to do whether you have much money or less because it requires discipline to do so.
setting a budget is an easy thing to do but sticking to it is what is difficult to do because after you budget your money you realize just how strict it is and how there are things you can't afford to do or go to or buy and you will be tempted to just take a few money outside of your budget
For me I always prioritize my needs when I go outside and buy groceries and I make it good enough for me and lasts atleast one week so I am not gonna go outside all the time because you know liability always follow us whenever we go. 😅 I always have lists of what I need so that I am gonna bring enough money for that so no reason for extra spending.
good habit mate when you have a list of what you need there is less time to meander around and get tempted by things you do not need to buy
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Spend when it is necessary. Don't spend to attract or entice friends because they all gonna leave you when the money finishes.
A reasonable human being wouldn't spend their time and money to buy unnecessary things that don't add value to their lives when they have bills to settle.
The global economy is on the rise due to inflation, it's ideal to have side hustles for financial support
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The current economic situation in my country is bad and has made it difficult for almost every person especially because of the huge increase in food prices. If a person can manage his income and expenditure according to a plan then he will not face any financial crisis in his personal life. This financial crisis will appear whenever you overspend without the necessary content. If you buy necessities without saving money and you get stressed when you don't have money. We cannot change the internal situation of the country, but if people want to lead their lives according to the rules then money will not suffer.
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Spend when it is necessary. Don't spend to attract or entice friends because they all gonna leave you when the money finishes.
A reasonable human being wouldn't spend their time and money to buy unnecessary things that don't add value to their lives when they have bills to settle.
The global economy is on the rise due to inflation, it's ideal to have side hustles for financial support
Only spend money when you need to. Don't try to impress your friends by spending on them, because they won't stick around when you run out of cash. Smart people don't waste their time and money on useless stuff that doesn't improve their lives, especially when they have bills to pay. With prices increasing everywhere, it's a good idea to have a side hustle to make extra money.
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Only spend money when you need to. Don't try to impress your friends by spending on them, because they won't stick around when you run out of cash.
This very accurate bro like 100% happened to me before and what's interesting is that this random person that is not close to me helped me get back up. That is actually insane then when this hypocrites knew I have money from crypto they started to go near me like what? 😅 They are not my priority right now even if I have few money with me because they are not there when I needed their help. When I was with them before, I spend more money because I hangout with them but now I better save, invest and prioritize my family. They don't even care when I was into a motorcycle accident so yeah they're fake.
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Spend when it is necessary. Don't spend to attract or entice friends because they all gonna leave you when the money finishes.
A reasonable human being wouldn't spend their time and money to buy unnecessary things that don't add value to their lives when they have bills to settle.
The global economy is on the rise due to inflation, it's ideal to have side hustles for financial support
This is the reality of life, if you have money you will have friends and when the money finish, they will run away, Intelligent spending of money is so essential. Don't lavish your money just to show off or look superior, don't spend too much money to Impress anyone because at the end you will be the one to be disappointed. People will stand firmly to support you when you are lavishing your money, despite knowing that you are doing the wrong thing or acting irresponsible. Good friends are also important in our lives, don't mingle with bad people or people that will influence you negatively. because they will not correct or advise you even if you are going astray.
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Needs are a necessity, everyone is beginning to understand that wants can be left pending but not for needs. Global economic inflation is on the rise; it is a hard time for people to focus on getting the important things they need instead of going for their wants that won't add any meaning to their lives. Whatever someone has, they should manage it instead of throwing it away to buy a new one that costs them
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people find a difficult time differentiating what they need or what they simply want the human mind can make up excuses or justifications just for you to buy something
my advice would be to not get caught up with the trends and whatnot because those are the things that will have you wanting to buy things others buy just so you can stay in trend
Of course, many people especially poor and low income earners find it extremely difficult to differentiate between needs and wants, necessities and luxury. Because of poverty many not well to do individuals even see some needs as want.
An average man will think a car is luxury and that washing machine is for lazy people. The list can go on and on. This might also mean that what seem want to you might be a need for another
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Buy what you need not what you want. Globally the world is facing the worst kind of inflation in history and humans are going through their worst economic experience.
People need to be careful with finances expecially to be able to deal with emergency period. Needs are necessities but wants are luxury.
The world economy has always been unstable, the more it goes like this the more fun we have in it, only that we should not let the negative effect have it's experience on us, I never for once heard about a certain period whereby the economy becomes stable for maximum productivities, yet people will keep complaining and things are getting better for some while going worst for others, now is the time for us to stand and differentiate from what we want and what we need, because some have already wasted their time and opportunities.
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The world economy has always been unstable, the more it goes like this the more fun we have in it, only that we should not let the negative effect have it's experience on us, I never for once heard about a certain period whereby the economy becomes stable for maximum productivities, yet people will keep complaining and things are getting better for some while going worst for others, now is the time for us to stand and differentiate from what we want and what we need, because some have already wasted their time and opportunities.
True. How much more if we try to talk about third world countries like mine wherein from the time I was born up until now is unstable. The only problem herein my country is that progress and improvements are quite slow due to the rampant corruption. Based on that scenario I don't think people still can't see what we really want and what we need because this happens every single day and yet only few have learned the lesson.
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Prioritizing needs over wants:
*Distinguish between needs and wants*: Be honest with yourself about what you need versus what you want. Needs are essential expenses like rent/mortgage, utilities, food, and healthcare. Wants are discretionary spending like dining out, entertainment, or luxury items.
*Create a budget*: Track your income and expenses to understand where your money is going. Make a budget that prioritizes needs over wants.
*Cut back on discretionary spending*: Reduce or eliminate non-essential expenses to free up resources for emergency funds or savings.
*Build an emergency fund*: Aim to save 3-6 months' worth of living expenses in an easily accessible savings account. This fund will help you weather financial storms. *Avoid impulse purchases*: Practice delayed gratification and think twice before making non-essential purchases.
Navigating inflation and economic uncertainty:
*Stay informed*: Monitor economic news and trends to stay ahead of potential challenges.
*Diversify your income*: Consider multiple income streams to reduce financial vulnerability.
*Invest wisely:* Consult with a financial advisor to create a diversified investment portfolio that aligns with your risk tolerance and goals.
By prioritizing needs over wants, creating a budget, and building an emergency fund, you'll be better equipped to navigate these challenging economic times.
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That's true because we need to be financially responsible and intelligent when it comes to the way and manner that we spend our money, we have to be more intentional in our spending rate if we are to have a healthy financial life because there are allot of people who are working with good pay but due to extravagant lifestyle are in financial crisis we need to be intentional in spending money and should only spend on things that are needed
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Spending fund carelessly will put your financial strength in danger and it must affect your way of living. Needs are the important things you cannot do without, but when you spend money on what isn't important to you at that moment, is like a waste of funds. Trimming down your expenses and save or invest the money that you are using for what you want is the best, because you are making proper use of the money.
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I do follow this and stick to needs only and I try my best to not increase this needs, and even with that bills are pretty expensive, I must say.
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I do follow this and stick to needs only and I try my best to not increase this needs, and even with that bills are pretty expensive, I must say.
Needs varies depending upon our situation sometimes it's good to just limit and in some case we need to double spend just because the thing we needed is not that cheap or we don't have an option but to spend according to that specific need and we can actually attest to that during pandemic wherein we need to have things that we don't usually use or consume especially medical supplies. This also reminds us the importance of having emergency funds.
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Buy what you need not what you want. Globally the world is facing the worst kind of inflation in history and humans are going through their worst economic experience.
People need to be careful with finances expecially to be able to deal with emergency period. Needs are necessities but wants are luxury.
There is has been a global inflation it's just that we didn't pay attention to it like we did in the last 5 years and what made everyone realized the importance of inflation is that lock down that happen in the year 2020 where almost all the countries were affect because of the lock down and when economy activities resume, it was affected by inflations and this was globally, that's what we are dealing with till date.
Some countries have been stabilized, some are fair and some are bad because the way they are still struggling with their economy is very difficult. However, don't forget that some of the ones that seems to be doing well, their monetary value of their currency is reading high numbers, the value of their currency is no longer there.
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Spending fund carelessly will put your financial strength in danger and it must affect your way of living. Needs are the important things you cannot do without, but when you spend money on what isn't important to you at that moment, is like a waste of funds. Trimming down your expenses and save or invest the money that you are using for what you want is the best, because you are making proper use of the money.
Some situations may be the reason for us not making proper use of our money and they are distractions that could arise from peers, relationships and family and even work.
Still, when it comes to wants and needs, am sure we can agree that our basic needs which is good clothing, good shelter, good food, great companionship, just about does it, any other expenses that doesn't revolve around this, may infact be we call wants and they are often gratifications that makes us lazy and too comfortable.
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Buy what you need not what you want. Globally the world is facing the worst kind of inflation in history and humans are going through their worst economic experience.
People need to be careful with finances expecially to be able to deal with emergency period. Needs are necessities but wants are luxury.
That is correct when you say Needs are necessities but wants are luxury. Most people want to feel among the group, when they know they are struggling financially. This is a period where necessity is the most important thing to go after and not luxury. Though, those who have the finance can't be talked out of it, otherwise, the person talking them out becomes an enemy.
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That is correct when you say Needs are necessities but wants are luxury. Most people want to feel among the group, when they know they are struggling financially. This is a period where necessity is the most important thing to go after and not luxury. Though, those who have the finance can't be talked out of it, otherwise, the person talking them out becomes an enemy.
Needs are the most important things that we must get in life to maintain the stability of our lives, they are the things that is necessary for our well-being and survival. While wants are the things we desire, but they are not necessarily need, but they can bring joy and comfort to our lives. It is very important to focus on your life and stop comparing yourself to others, even if they are richer than you, always be contented with what you have, don't imitate anyone or even trying to impress people and spend your money on non essential items. Always use your money to buy your needs before thinking about your wants.
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Buy what you need not what you want. Globally the world is facing the worst kind of inflation in history and humans are going through their worst economic experience.
People need to be careful with finances expecially to be able to deal with emergency period. Needs are necessities but wants are luxury.
That is correct when you say Needs are necessities but wants are luxury. Most people want to feel among the group, when they know they are struggling financially. This is a period where necessity is the most important thing to go after and not luxury. Though, those who have the finance can't be talked out of it, otherwise, the person talking them out becomes an enemy.
You are right this country has simply come to a point where our lifestyle should be based on our own pocket and not on pleasing others. Sincerely speaking this people that most individuals spend money just to please, don't actually give a fuck, this is because this people when that money finishes they can never be of help. So let's be cautious in our spending habit and focus on our basic necessities like food, water, clothing and not on our wants or desire, which in most cases is just to please others.
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That is correct when you say Needs are necessities but wants are luxury. Most people want to feel among the group, when they know they are struggling financially. This is a period where necessity is the most important thing to go after and not luxury. Though, those who have the finance can't be talked out of it, otherwise, the person talking them out becomes an enemy.
Needs are the most important things that we must get in life to maintain the stability of our lives, they are the things that is necessary for our well-being and survival. While wants are the things we desire, but they are not necessarily need, but they can bring joy and comfort to our lives. It is very important to focus on your life and stop comparing yourself to others, even if they are richer than you, always be contented with what you have, don't imitate anyone or even trying to impress people and spend your money on non essential items. Always use your money to buy your needs before thinking about your wants.
Yeah, wants are important, and at some points, knowing how your financial stability and income stream flows, one will need to work with a scale of preference when looking at wants, because they are numerous and not impressing folks whom you don't know how firm their financial flow is.
There's a proverb that says The power standing for a squirrel is not the same power that stands for antelope.
You are right this country has simply come to a point where our lifestyle should be based on our own pocket and not on pleasing others. Sincerely speaking this people that most individuals spend money just to please, don't actually give a fuck, this is because this people when that money finishes they can never be of help. So let's be cautious in our spending habit and focus on our basic necessities like food, water, clothing and not on our wants or desire, which in most cases is just to please others.
When the money is there, it is fine to spend it, but not to spend it in a way of pleasing, because, on the act of pleasing, one might end up wiping clean his account balance, and at the end, realizes that it never worth it. So, spending wisely is very important to everyone.
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Buy what you need not what you want. Globally the world is facing the worst kind of inflation in history and humans are going through their worst economic experience.
People need to be careful with finances expecially to be able to deal with emergency period. Needs are necessities but wants are luxury.
With the way the economy is running and going, we don't have to be told on what is needed of us to do before taking actions on them, we have our own eyes that sees beyond what we may thought of, by the time we once fall under a duress situation and non could help, we will then know that everyone existing is only living being independent, when we are in need we don't see people to help us, not even on what can make our destiny, this will help to know how to manage resources when they are plenty for the time of scarcity coming ahead, we wont spend everything on wants and left the needs unattended to later in life.
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people find a difficult time differentiating what they need or what they simply want the human mind can make up excuses or justifications just for you to buy something
my advice would be to not get caught up with the trends and whatnot because those are the things that will have you wanting to buy things others buy just so you can stay in trend
You are right, most people always mistake their needs for want, also mistakes their wants for their needs which is really making most people not to improve or finds it difficult to make choices.
So people should always go for what will benefit them, they should know that whatever thing that aid as a source of support or survival is what they need and not want what that just last them for a while or for a short period of time and can not add anything good to their lives or support them in anyway.
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People indeed need to be careful with their finances these days because nobody will be of rescue when their finances are on the low because everyone is managing their finances on how it be enough for them and their family. No more wants the burden of others to be on them