But what you need not what you want

[bitterguy28]

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

[JoyMarsha]

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

[albon]

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.

[bisdak40]

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.

[0t3p0t]

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.

[Chilwell]

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.

[JoyMarsha]

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

[Didia Sofunichi]

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

[Aanuoluwatofunmi]

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.

[0t3p0t]

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.

[[email protected]]

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.

[Agbe]

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

[Sim_card]

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.

[libert19]

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.

[0t3p0t]

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.