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Usually people get anxious and frenetic for new sources of income, to find new jobs, so they can maximize their patrimony as soon as possible, but many of them forget you don't accumulate wealth only when receiving money or being paid by others for a work. We can also decrease our expenses and stop third-partying tasks we can do ourselves, so at the end of a monthly cycle we will have earned more money to invest and make it grow overtime.

People create so many worthless fixed expenses nowadays. It can be monthly subscriptions of services they barely use, eating out too often, purchasing superfluous clothes, accessories and items in general just for vanity towards the society. Sometimes people have all the tools they need on their hands to finish a solid building, however, since they don't know how to use them properly, it will look like they constantly need more and more tools indefinitely.

It's subjective, I will answer based on third class society: low, middle and upper class.

Low class: They're work from morning to night, but the money they earn only enough to buy foods and sometime they didn't earn much money, so they're take a debt to buy foods. There's no way for them to have spare money to invest, it's not about they're didn't try enough, they're already try as much as they can, but they're not lucky enough.

Middle class: Even they're have enough money to buy foods and have spare money, but foods price always increase and they're need to spend more money than their last year, even though their income are same. Some people jealous and want to have expensive thing, so they're taking a debt which is bad decision.

Upper class: There's some people who invest their money and there's some people who bought many expensive thing to satisfy them, in this class they're lack of financial management.

Taking out unnecessary expenses is definitely good, but looking for additional income streams is definitely the way to go. Very early on I stopped eating out frequently because I couldn't afford it, but I love eating out so much that I forced myself to look for more income streams to be able to afford it. Life is short! Hustle hard to be able to afford the things you enjoy.

Are people really going to allocate that money for investment?
I think their management has more influence on the decision. Someone is used to that investment is important, they will avoid transactions with excessive fees. It is a form of indirect investment. Otherwise, those who are accustomed to their consumptive behavior will only use the remaining money for other unnecessary purchases.

Eating out and shopping for unnecessary things becomes normal when they get used to it. Its just like us drinking beers every night when we know already how it feels even during out teen days. Old habit die hard I guess.

Its why I like reading success stories of people in the worse situation in life but had stand the test of time with success. There are many of these poor men disliked by their in-laws because they were not rich at all but prove to be successful in saving and investing.

I am with mk4 on this.

In order to save, and invest, you need to spend less than you earn. You can do this by reducing your expenses or increasing your income. I prefer the latter, but you can also do a combination of both. On this point, I think the OP is right that we should try to avoid ant costs:


If you are barely making ends meet, the first thing to do is to review expenses and remove all such expenses, then try to increase income and try to find other sources of income.

True, saving your money is one of the most important aspects of growing your wealth. If you spend your earnings on stupid stuff then you’ll make less savings and that would mean less investments. Less investments will slow down your wealth growth and that would make you stay poor a lot longer.

“A dollar is not spent is a dollar saved” -Benjamin Franklin

I love eating out too, and someday I would like to do this more often, but first I think I must try building up the finances, so futurely I won't have to worry if I'm spending too much on this.

However, as you said, life is short, so we must do the best as possible with the time that is given us.

Oh, talking about beers and drinks you reminded me another example: to drink at home vs. to drink at the pub. Some people go to the pub every night after the duty and pay much more for the same bottle of beer they could purchase at supermarket to drink at home. I see so many doing this where I live and then I have a clue of one of the reasons why they live in precarious conditions...

Funny enough, it is common that when a man tends to earn more, so will his craving desire for more expenses also increases. I totally agree with this very statement of yours, that wealth isn't created by having multiple streams of income, but it is by using those multiple streams of income to earn more money for you, while cutting edge from spending on things that doesn't really matters. Because this book titled "Rich Dad poor Dad" written by Robert Kiyosaki, is a book that will help you understand how to create wealth, how money works and financial education in general. So you can go get one for yourself to read
https://i.ibb.co/HPqR4vZ/download-1.jpg (https://imgbb.com/)

Once you realize what you need to reduce on your list of expenses, you can start investing to see your money grow. But not many people can do this because some of them are more comfortable with all those unnecessary expenses so they can't start investing like other people.

If we look at other people's lifestyles, we will be able to take lessons because what we need and prioritize are basic materials to survive while other goods only support the basic needs that we must have. If there are no supporting items, we will also be okay and still be able to survive. And it would be better if we use the money for other things that can help us to have investments that can be useful in the future.

We are, for the most part, a consumer society and we are tought that by consuming (buying) unnecesary things we get validation for the work we put into (even tho we work less that people in the past). Also, the capitalist economic system requires us to spend more so it mantains it's grip.

You do only earn from others, unless you are self employed which still relies on providing goods or services to others. You can increase your wealth more efficiently by not frittering away those earnings on frivolous or unnecessary things, this becomes part of good financial management. I'll definitely agree that large parts of society are caught up in the must-have-now and throwaway consumerist culture, which we may all have been guilty of at some time in life. There is a lot of unnecessary junk out there for sale, which in some cases are only used a few times before being discarded and was not worth the initial investment - impulse type purchases. It's a good idea to really think about every purchase, even down to cups of coffee - make it at home instead of spending 5 bucks at starbucks.

If everyone was a good accountant, then far more people in this world would live better - but the problem is that today's society has become an obsessive consumer and instead of spending more time with family or in nature, they go to huge shopping centers and spend hours walking around the shops. Everyone who does it knows that it is almost impossible to avoid buying things that we don't need at all, but desire is sometimes much stronger than common sense.

It's hard to change when you're constantly under the influence of advertisements, whether it's on TV, the Internet, or the radio, to buy this or that. So watch less commercials and think more for yourself, and you will certainly save money. I can only say that I saved a considerable amount of money when I got rid of harmful habits like cigarettes or junk food, and that is something that anyone can do - better health and more money, two birds with one stone ;)

This is a weird approach though. I mean if you keep on saving money and do not spend your own instead of finding more and more income, then you are going to lose your moneys value against inflation. This is why I think we should be focusing a bit more on the income side and that is why we should be making more and more money. I am not saying that is a bad idea but saving money would not help you with anything and it would just cause you to make a bit more situation where it would lose you "value" over long period of time. Hence, just ignore all of that and focus on making more income.

Do not forget the waste of good money on "bad" habits. I have friends that constantly moan and groan about financial problems, but most of them smoke 1 or 2 packets of cigarettes a day.... and on top of that, they consume a lot of alcohol on a daily basis.

Some of them have more than 3 big dogs and some other animals too, so they are spending loads of money on food for those pets. I love animals too, but I am satisfied with 1 dog and some fish in a small aquarium or even a few birds.  ;)

uneng's message is well understood and eliminating unnecessary unjustified expenses will benefit anyone. There are two very important skills required when dealing with money. This is the ability to earn and the ability to manage / save earned money. OP emphasizes and focuses on the second part of this simple "formula", but it seems to me that the first point cannot be excluded either. It is important to be able to balance between making money and prudent spending it.

Yes, I think people indulge in wasteful and carefree spending, buying somewhat irrelevant things that end up being barely used. Not forgetting that they’re are some very low income earners that live hand to mouth and can’t afford to have anything saved.
It’s always wise to have a budget and to live within your means. Differentiate between your wants and your needs. You could also draw up a scale of preference and go about completing it from the most important. That way you would end up getting what’s most important first.
  Some people spend more than they earn and that alone drains you financially.

Lotta folk's are still leaving by the old rule's "Go to school, Go get good grades, and Get a good job"  These rules sucks for crying out loud, a whole lot are still not financially educated how do you expect them to be conscious how do you expect them to b self aware of them financial spendings ? My take on this is not about getting more money/ income ( Yes it's good )

 But how do you get more income and money ? You have to look out for your surroundings and solve a problem make money work for you. You shouldn't work all your life, you should bear it in mind that you'll get retired some years ahead, how do you now make more money and income when you have no strength to hustle ? Advice : Don't work all your life, Employ smart and intelligent people these are what the rich and billionaires do!

Like someone said above, life is too short, spend your energy and strength chasing goal while you have them, have fun travel around the world, see new cultures, eat new meal's.

My take about working for people will remain the same. Take your time to study accounting, law and investment proper guide for anyone looking for financial freedom. Liabilities don't give you assets. So, spend your money to get assets.

Really interested into Agriculture, as humans will continuously eat for the next ten years ( Forever ). Currently growing Plantain, Banana, Maize, Melon, Yam and Cassava. Really wish I can also grow Wheat and Cereals.

People nowadays lack self-control and self-discipline when it comes to spending simply because they follow what's on trend. This kind of lifestyle isn't healthy because we will not be able to save wisely or even have enough allocation for investing. Meaning, that we will not have enough preparation in the future. We're in the inflation crisis and too much spending would make us suffer when the crisis gets worse. Yes, it's fine to treat ourselves sometimes because we also deserve to enjoy the fruits or our hardwork but we should still know our limits. It should always be our needs first before our wants.

There's really nothing wrong on buying things that will make you happy such as long as you managed it. Saving isn't only the option to be able to get rich but rather having a support that you can rely to buy the things that you wants such as extra income. Also, isn't the reason why we work and earn money, to buy the things that we want.

Saving money and having more and more income flow to accumulate wealth would be great however it's not wrong to treat yourself ones in a while. However, if you have spending more than what you earn, it might be a problem and you must evaluate your decisions as this might lead you nowhere.

Success in life would be entirely be depending on how someone would really be handling out their finances well and if you are someone who are really that had mad spending behavior then you would really be on disadvantage compared to those who are really that keen on spending and minding much about investment and other things in related with other source of income instead. If you are really that
been mindful on how to have a successful life then it would really be just sensible that you would really take priorities on things which could really make you sustain even though you arent making
yourself directly to have a extravagant kind of living but at least you do know that you could able to make it possible in the future if things turns out to be well.

We live in consumerism era,we like to consume a lot.At work people look at me that I order food from outside the company refectory and they told to me joking,you seem to have a lot of extra money by ordering food from the outside while in fact I don't like the food provided from the company.The same can be said for all people and their spending,they like to dress well and get that expensive perfume that when they walk past,they live a sense to other people,some other people which I am part of them I like to have really expensive powerful computer/s at my home and beautiful latest smart TV-s and smart gadgets.Today society is telling more and more to consume to us,this though makes our credit card to go up and we pay the minimum of 18% interest rates which in the end it translates in less or not at all money saved.

This depends on the point of view of each other,I am reading a lot of books on personal finance but they all point to one thing,just invest or save and then invest,for me investing is as risky as gambling so I refrain from it.

I guess that explains how man adopts to his own environment. If he sees people around living in luxury and vanity, then he’ll act the same way as if he belongs. However, not all people do that because they have their own mindset and rules to follow. They focus more on growth and progress, and it will only be achieved if he stick to being disciplined. Discipline in such a way to always appreciate what’s there and not to look for what’s missing. Instead of spending on unnecessary material things and liabilities, they focus on investing portion of their income and invest it into assets that create profits, rather than focus on liabilities and gain nothing except comfort.

Earning good amount of money starts from your own self, the way you manage your expenses, and the way you discipline yourself not to spend over your income. Although you can still accumulate more income from your own work or let’s say from investments, but first and foremost saving and earning your money starts within you. No matter how many resources you have to generate an income, if you are not motivated to earn and save, then you will never be financially independent.

From personal experience: the simplest optimization of regular expenses that go to your daily needs has such an effect that I did not even expect. The only caveat is how to implement it. No, believe me, you don’t have to eat only tap water and eat old bread! :)
1. To begin with, start taking into account your expenses with a gradation by item. And all the expenses from buying ice cream to refueling a car, and paying off installments. Seriously - consider everything you paid money for, this is very important! In 2-3 months, this will give you enough information to see what you really spend your money on. Believe me - after 2-3 collection and systematization of information about expenses, you will be very surprised! :)
2. This information will also be useful for family budget planning, as you will understand what your regular expenses are, when and how much money you should have, how much you can save / invest, etc.
3. Well, and most importantly, evaluate for yourself, i.e. extremely honestly - the need for certain expenses, or the volume of expenses. To be honest, when I collected such statistics, and then estimated the real consumption (or rather the volume of things and products that were not used), I was shocked! We threw away about 20% of what we bought only food :( HERE is a pity for our money, and the labor of other people ... And food is a fairly noticeable cost item, because it is regular and constant. Well, and much more.

At first, this may seem like "greed" to you, but in fact this is just a transition to a reasonable use of YOUR money that you do not draw, but earn. And the money saved, in 2-3 years, can actually turn into a new car (no, this saving is unlikely to save you 50-60k dollars in a couple of years, but given the sale of the old car, you can definitely report and buy a new one :)) , a few good vacation trips, or just an investment of that money in your health or in your children's education.

This is hard to avoid especially if you are stress in your job or daily routine in life. We also need to invest on our mental health so it's ok to treat our self atleast once a month for the things we like to do. The things you've said could only be a problem if the person is spending too much to compete with the people from his surroundings even if he really can't afford it. There are some people that become in debt just to keep up with the trend.

I was guilty of that before during my early days of being a crypto addict. In 2018, that was the biggest money I’ve ever made. I have achieved 7 figures in Philippine peso that time thanks to crypto despite the bear market. But the problem is that I have spent too much on pleasure like travel, unnecessary expenses, etc., for 2 years.

I was too complacent back then. I traveled to 5 countries (7 times overseas) and multiple times in various locals, renting a condo unit, etc., while my balance is draining instead of earning more (I only earned less after being a self-made millionaire).

Until in 2020, I am almost broke again but I’ve learned my lesson, started from scratched and claw until I finally have my second breakthrough. I could have accumulated a good amount for my future but one day of being careless, my wallets are hacked and $12k was vanished in thin air.

But because of my determination and willing to learn from my mistakes, I have managed to slowly got back up again and recovering what I have lost. I still have long ways to go, but I am in a much better place than I was before thanks to the multiple crypto opportunities as a KOL and ambassador myself.

I can relate. You haven’t landed that huge sum of money before and once you got all that in a go, it was overwhelming and you went on a spending spree getting all you ever wished to get. I can understand that and I can’t fault you also. But It’s good to know that you have learnt to be moderate in your love for the affluence, pleasures and good things this life has to offer if only you have money. 

The main reason why they hire helpers or use a third party service is because they are busy working with their own jobs. Some has their own rest days but it won't be called a rest day for no reason. They are tired from a whole week of working so they just use their rest days to rest instead of working on their own chores.

If they barely use it why will they continue paying it monthly? Or maybe they are simply busy and can't use that thing much often? But once they have a time, they will still use it, plus I think they are not alone in their homes, boarding house or whatever place they are living and maybe some people will share from their subscription so that it won't look heavier for them to pay it.

I like what the OP mentioned - It's good to hold your expenses for some time rather than spending money and asking other for the help.
People want to have all the dream come true and than they want people to give them money like crazy.
I always hold my expenses and try to cope up with my finances.

Each class has their own mindset on how to handle their financial aspects that's why we cannot tell people what to do about investing and putting aside extra money for savings. I understand that middle class and up can find ways to put up savings for financial stability or even put investment on it. Surely, people in the lower class can do it too but it takes time and effort hence there priority is only "now"

I agree to this, every person has a different perspective of handling life even though the first opinion or idea is applicable to others, it cannot be always applicable to anyone. I think identifying your social class means nothing if you can't withstand your standards.

Saving and cutting expenses can only do so much but it is a start. Sometimes you cannot actually do it if you have very limited income.

The key is to have multiple sources of income and then you can move to saving and cutting expenses and then making investments. Investments are the best source of additional income since it is passive. The more passive income you have the more you can save and then you don't have to cut expenses anymore.

I don't seem to get it on how reducing our expenses could result in earning. Yeah, you might reduce your expenses which is a healthy habit for one to engage in but, it doesn't earn you any money as, what you tend to realise is what you must have earned from other income sources. It gets you to a point of unspent money and that isn't a classic earning. You just didn't spend!

Earning is you generating entirely new money and that could come off some income source either in your rendering of services or sales of property or some goods, trading a skill and more. Your saved money isn't earned money as you already earned that money from other sources. You only got to practice some money management and that's okay.

People tend to accommodate more than they actually need and that's not limited to the apps on our phones. Some individuals go broke due to the lots of houses or properties they hold, pay taxes on them and somehow never get to use them. Yeah the buildings might serve for some real estates but there are some assets like some brands of cars that doesn't appreciate in value over time and you find people owning a whole lot of them in the name of collections. One has to determines needs from wants and focus on keeping what is most necessary if finance is going to pose a challenge in the later future.

That's the truth about life, and for all the people that live to find more satisfaction in life. They always find their own possessions lacking so they will accumulate more and more, which lead to overspending for unnecessary things. Where in fact, if we want to earn more money, then we should be tight in our expenses and manage our funds through investing. If we can focus on that, then we will see growth and profits later on. Sometimes, the way to make more money is to learn how to be stingy. That way, you won't be spending more.

This is correct, I have known people that earn a good salary and that live a good life but if they lose their job they will be homeless in a matter of months, and in fact I have seen this scenario playing out once in front of my eyes.

And while I do not earn nowhere near what those people earn I do save and invest my money, so even if I happened to lose my job I could survive without any problem for years and that is because I do my best to not spend my money in stuff I do not really need.

It's about the lifestyle. Even if you're earning a lot and too much but if you're lifestyle is being par according to how much you're earning, then you're increasing your expenses.

There are people that are living with minimum wage yet they don't spend that much but only to the things that they need and removing those wants, they're having spare money to invest somewhere.

Just like what I've read in some of those financial quotes about it's about how much you save and not with how much you earn. Although it's debatable and you have more the advantage if you're earning more. But, if you're not good at handling it, you're no different from those that are earning a day just to survive.

If eating outside more often could bring satisfaction on your own, then why not? As long as you are able to manage your finances and not spending your money intended for the bills to make it happen. However, for practical reasons, others only eat at home to save their money and hoping it will grow. But the fact is, you will only  earn and see your money grows if you engage into another source of income. Be it an investment or any type of business, as long as it’s generating a good source of income, I guess that’s all we mostly need.

Always prepare for plan B's because you cant really have your day job like forever and there's always a risk on getting fired or had some lay off which means that once happened then you would really be ending up on getting broke or homeless if you could really not able to find another job to sustain your living because we know that living is really expensive nowadays even lets just say about living by just having a food on your table.
Therefore, it would really be just normal that you would really be finding another source of income through investment and it is really just suggestible that you would really be needing to be wise or else you wont
really be living a comfortable life just because you are really that short when it comes to expenses which you do need to sustain.

I think plan B won't work that much in a country where a living expenses is higher than the rural area that's why you have to work your ass off just to enjoy living the life you want. Although, it all depends of what kind of work you do have or how much expenses you are paying every month and it just needs to a little money management and you may be able to save some for your leisurely life or invest it into something.

There's a lot of factors why people spend too much and some spend less etc.

Some people like spending their money in things that are not really needed. But I dont see anything wrong if you're a kind of person who likes to satisfy yourself in things that can make you happy. In the first place we're striving not only to sustain the needs of our family but for our own sake too.

As long as you have control and aware of what is needed to prioritize first and when it is fine to spend for yourself then you can do want you want since its your hard-earned money. Earn, save and invest but dont forget to treat yourself for your hardwork.

I do agree. To add, they also forgot about repairing their things. Because there is so many online shops available now, they would rather buy something brand new and get it over with. Talk about being lazy too.
Instead of saving money by just buying the needed parts for an equipment they buy the whole thing and then go back to rest.  :D
Same with food wasting. Leftover foods can be repaired to a new kind of meal but they won't do it. Again with the online food delivery.
Sum it up, they made someone else rich.
I am old school type, I like fixing things, I like repairing them, taking my time to do things that won't waste a lot of money. It's not being cheap, it's just my kind of hobby too.

Life is unpredictable, and the future is unknown, anything can happen. No need to be caught between 'I need to save money' in the end just regretting the opportunities that were never taken, the hard-earned money just to enjoy. Have fun with what you love, eat out, spend money to improve your lifestyle or buy something you have been dreaming of for a long time. You only live once, so do whatever makes you happy.

To sum it up, cut unnecessary expenses, and stop spending on things that won't really make any difference even if you don't buy them. I think it is in human nature to spend flamboyantly when they have extra cash. In other for someone to be able to save and increase their funds, one must learn to cut down all unnecessary expenses and be prudent in spending. Know how to economize  :D

It all depends upon your purpose of life, if you want to live a life where you want to save money and then spend during your old age and that is how majority of the earlier generation used to do and at the end of the day their health will not help either if you want to explore. I do make these expenses as i am living life and i do spend money if it makes me happy and nothing else  ;).

I always think that saving and enjoying our hard-earned money is essential for our motivation in life so I think we should spend in moderation.  Means, we can still enjoy things that we like to do but do it moderately.  This way we both satisfy ourselves and the need to save money.   Besides doing things frequently diminishes the joy effect of that things.  Aside from that, a person must also learn proper financial management to be able to effectively save and grow his finance.

Everything should be in moderation and that would really be entirely depending on how much you do earn and this is where you do base up on how much you would gonna spend or in terms of expenses you do have in life.

You cant really just act lavishly even if you do know that your earning wont really be that sufficient on day to day needs which it would really be just dumb that you wouldnt really be having any considerations on looking
this part or key area. If you do love to live a life on where you could buy everything then you would need to work hard and smart but ofcourse it wont really be anytime in resulting to positive because
we know that this life is full of challenges.Therefore, you should be wise or smart to achieve out the plans you do have in mind.

We must have a clear purpose in life first, to be wiser in using the money we have. But unfortunately the younger generation now only thinks about
their current life, they are too focused on people's views and want to be famous on social media. Therefore, it is very rare for young people to be
diligent in saving or even investing to plan their future well. Whereas for us to live a pleasant life in old age, we must prepare for it as early as
possible. So the government really has to provide a lot of education about the importance of planning for the future, so that many young people
do not spend their money on something that is too consumptive. Don't just think about our current happiness. but we also have to think far ahead of
how the life we want when we retire and live our old age.

A good economy is increased purchasing power or consumption, smooth circulation of money will make anyone have the opportunity to earn income so that I can improve life, I prefer shopping but I also get income from people who buy my products or services.

I am one of those who spend more than they receive. Today's advertising, the availability of all products, and the opportunity to be at the center of fashion and all kinds of interests influence people too much to tempt them to spend more.

Take my child, for example. I cannot refuse to buy toys for him, although I understand perfectly well that they will turn out to be either uninteresting or broken in two or three days. But this is a child, and he has one childhood. Many things can be denied to yourself, and instead, save and invest in something serious, but while we are young, it isn't easy.

Wisdom comes with age. My parents know how to live economically. I also try in my family, but so far it has been challenging.

I am not going to deny that it is difficult, after all how many ads we have to watch everyday? 100? 200? I have never taken the time to count them but if we were to add them I would not be surprised if I came up way short on my estimate, this makes saving way harder than what it should be, however we need to do it, as not only it is important to get short term satisfaction we also need to think about the long term benefits of having more money in our pockets, like retiring early or working an easier job once we get older.

You are partly right, and besides, when you withdraw from spending, what you save is net, since it has already paid taxes. If you invest it or have it in an account that gives you interest, you will pay taxes on the interest or yield it gives you, but not on what you have already saved.

If you look for new sources of income, however, you will pay taxes on what you earn, although I prefer this option, without obsessing and stressing. Or even try to increase your current income without looking for new sources. With this you will be able to spend more and also save almost effortlessly.

I can't explain the situation I have read about- there was a person who has been robbed by a crook man.
sometime innocent people are always been misused by clever people - they are robbed, mistreated, threatened by the crooks. Money game is horrible game.

As a family guy or person then for sure we would really be doing our best to give out those things that we havent experienced to get in our younger days because most of us doesnt really like that they

would experience the same things that we do experience in the past thats why even your aware that money should be spent wisely but there are indeed times that we cant really resist on not to buy something specially from your childrens request and you know that you do have money on your pocket or funds then it is really indeed challenging.

But of course everything would be having a limit and this would really differ into each parent since not all would really be having on the same handling when it comes to this manner.

Saving is also a good way to earn more, but unfortunately most of the people find it hard to save even those who are big earners in the society. Maybe one reason is that they always spend more than their income, so even if they have other resources of income, earning and saving money is still not possible. Where in the real fact is, you will also earn more if you start to manage your funds and buy only those things that are necessary. But of course, having investments or another sources of income gives you bigger chances to earn and save more money to grow.

Not all people have lack self-control or can't discipline to limit their spendings. It depends on his habits since childhood, it is formed by his parents. Someone who is accustomed to a measured lifestyle, will find it easier to control himself and stay away from the habit of following bad trends. This type of people must prepare to put their money for investment than following wasteful trends. I guess people who can't control themselves from following trends, are only people who never have a commitment and clear goals for their life. So, they don't know what they should do for their future.

This is why the milennials cannot afford anything substantial unless they are a trust fund baby, or that they are given a head start by their well-off parents. Living frugally doesn't really degrade you as a person. In fact, it sets you off to a mindset that could possibly elevate your finances in the future. Most well-known billionaires live frugally despite having the means to buy everything that they want and still have a shit ton of spare change to blow on something else. This value is something the milennials never learned to emulate, and they are so driven by consumerism that they think this is the way to live their life. Oh well, to each their own, I guess.

This seem to me like word on marble, like a wise saying. There is reason in the whole of the things you said before the above line. Truly if you have different means of income and good income, you can well take care of all your needs in life and in fact become a philanthropist, giving to motherless homes and the needy. Having much to spend will is the solution to a miser kind of life as you said life is too short but if you don't have much, then being economical is the option left.

I mean it is true for the most part, that additional expenses can sometimes kill the way you budget your finance but finding other ways for income to pay for those "additional expenses" can help. Examples would be some beer money jobs out there that are pretty easy to do (but yet pretty far apart in terms of being able to do one most of the time). I've been trying to find alternative sources of income, mostly related to my hobbies which is drawing and it's been helping me in paying for a LOT of stuff related to it.

Converting your spare to investment can grow your initial capital. I mean, if you will use your money the right way,

the chance of gaining passive income is doable, instead of overspending your income if you find the right way of investing
you can increase your savings.

It's not easy though since there is a different culture that all of us have, it will be depend on how we control our own
self in spending our money and start to be wiser about finding ways to invest.

It's just a matter of self-discipline. Once you earn or receive a huge amount of funds, you should automatically allocate enough savings to keep. You have to know your spending limits and keep yourself away from things that you don't really need. Spend wisely and handle your funds the smart way because you will also be the one who will benefit in the end. Always think of your future.

Not everyone who hustles can afford the luxury in life. Some aren't so blessed with the fortune due to the physical and mental limitations. Spending too much with unnecessary things could be one of the reason, but hey we're all human, bringing pleasure to ourselves is inevitable after the long hours of working. 
Some people may have hustled so hard, but not fortunate enough to have enough knowledge the value or worth of his skills. Millions of people are suffering underpaid.

The op is right, this days, making money have become way harder than it used to be, it can take up to a month to make let's say $500, but that same amount can be all spent under 3 minutes due to how expensive commodities, services have become, to be financially independent at this time, it is necessary to apply wisdom to how we spend, there was a time I use to spend so much on subscription of my cable TV which I might not have time to sit and watch even for 1 day until it expires, but recently, the economy of my country have forced me to cut off such type expenses since they bring or add absolutely no value to my pocket or day to day life.
This is not a matter of working hard to afford things like this, I can work hard to afford things that are really important, not ones that mean absolutely nothing or adds no value to my life.

yes it is commonplace, shopping is an absolute thing but saving is a choice. the income coming in may not exactly equal what you get but being able to split between investment, need and what is spent, it should be an ideal arrangement for managing fiat holdings.
except, that the profit taken is net and can be used for expenses.

We cant do anything about this reality yet people could really be classified into two conditions whether you are rich or poor which means that equality is something that cant really be possible which there's nothing

we can do about it.If we do see that we do belong into that poor level then it would really be just sensible or common sense that you would really be finding ways for you to make yourself that productive

or finding more source of income since you do have that goal or target in mind that you wont really be sticking to be poor or someone who had been struggling in life when it comes to finances
which it would really be depending or varying on someones efforts and being wise on how to do such things in line.

Your example of cable TV subscription is one good example that you are paying for something that you really don't need.
So yes, it is good to re-evaluate your lifestyle and remove things that you think you don't need anymore.
We need to be practical these days as we need to prepare for the possible scenario that we may encounter with.
It is better to prepare rather than not knowing where to get your funds in times of need.
Don't rely on others, it is better if you are more self-sufficient and not worry about what's to come.

Many useless things appear, and many people indulge in blind preconceptions that it is their own ideal and purpose in life. But if we are not enlightened, we cannot see ourselves as instruments for others to manipulate for their own benefit. Growing and evolving in a more beneficial way doesn't mean everything is perfect, as they always come with various trade-offs to achieve. I learned to be satisfied and grateful for the things I do. Life has taught us to not get caught up in tasteless pleasures.

I like this forum a lot. reason:
This is something I have faced recently.
People borrow money and then show attitude as if you are the one indebted to. I have worse expenices - better to stay away from frauds and scam.

Yes, by saving your money, you'll be able to get a good future ahead, if you know how to control

and you are good at spending with what you need and what you want. Along the way, lots and lots of spare will be converted
to a good amount enough to invest or to allocate for your needs.

Learn this kind of attitude, then you'll be able to manifest with the right thing for financial securities.

The net profit in each month must also be known so that everyone knows how much they can spend to shop for daily necessities and also invest and save for sudden needs when someone becomes sick. So what is common to know is net income or net profit so that everyone can separate authorized capital and other finances that are used suddenly.

I wholeheartedly agree with you.

Exploring alternative means of income does not necessarily involve getting a new job or venturing into a new asset but it also involves limiting nonsensical expenditures on your part. I think it is essential that people should determine their wants versus their needs; the latter being the more essential in terms of priority in spending compared to the former.

If a person can determine and check his expenditures, he will also realize the things that are not worth spending on, thus saving more cash in the process.

Of course we cannot rely on others, we must be productive by doing various efforts or work in order to survive, World Bank reports say that the economic crisis and recession will occur until the long run, the best thing besides reducing expenses is to continue to be active to increase income.

Agreed - at least I dont look up to anyone for any help and that is the best decision I have made in this year.
You learn with the passage of time that you are only your true friend - live by rule and you will be good to excel in life.

Well saving money is always good because if we save money we can easily get it specially when there is an emergency and we badly need money we can get it easily from our saving and we can save the possible interest of the possible loans that we might get because of the emergency reason.

This is what I used to think as well. I always looked for more income because I believed that if I could make a tons of money then I could retire easily and I wouldn't have this problem. However, soon I realized that while I was working hard to make a lot of money for myself, then it hit me, I was missing life and I was spending 20 hours a day making money that I wouldn't be even spending.

This is why I need to just reel that back in, and hope that I didn't do anything wrong to my health or my mind, and I am working a normal job now. I love the fact that I do not have to worry about anything extra anymore and I love my job anyway, so it doesn't feel like "work" after all. I want to write a book one day, maybe I will work hard on that again but that’s it.

Governments and private companies have been pushing for a culture of consumerism all around the world, and while there is nothing wrong with buying the stuff you need or want we must exert some self-control.

However that is not how they want us to live, they wants us to consume just for the sake of consuming and such a lifestyle is not only incredibly wasteful but very difficult to maintain, however if you can control those impulses and control your spending very soon you will realize that you do not need to work as hard and deteriorate your health in the process, while at the same time you will have more time to enjoy your life and you can even retire early with all the money you can save and invest.

That is a good approach but there are people who love their jobs so much that they actually consider that as a life and they enjoy it. I know a friend who is a lawyer, and he works day and night on being the best lawyer he could be, and that means very late hours as well. He is a single guy so there is nobody to go back to at home, actually his home is quite like an office with just one room for a bed, because all he does is work on his cases. He makes a ton of money, he could literally retire at 35, but he doesn't consider it as a money thing. He loves winning a case and that's all he works for, he wants to keep on winning forever and as long as he does, he is going to do it.

there are robbers around us who are always looking for opportunities to steal people's money
They are the most hideous of all - people with the heart of stone. Those who are willing to harm people and are ready to  get the last Penny from their pocket.

Without a doubt there are people that love their jobs but for the majority their jobs are just a means to an end, they need money and as such they exchange their time for money, they do not really find any kind of fulfillment out of it and I do not see anything wrong with that, after all I have always thought that fulfillment should be found outside of your job as the last thing I want to do is to work for the rest of my life, and if anything I want to retire as early as possible.

It takes hard for people to realize that money is not gain through jobs or investments only, but also for having good discipline to earn by focusing on what is needed and get rid of those that are not essentials. Earning is one first step to save penny for future use. However, I believe that you could earn more and save more if you also have stable job or good investments that can provide you another source of income. That way, you will attain financial independence faster and easier.

This is why financial literacy is a big thing, there’s a quote saying that it’s not about how much you make or get from your salary that will make you liquid, its about how much you save. This has been my way of reminding myself not to spend beyond my limit, because I’m been through this situation already and I know the stress of spending too much. If you really want to become rich, you should know how to control your finances and stay rich for good.

A big yes for this, financial literacy will take you to a better place and no matter how much money you have its useless if you don’t know how to spend it wisely. Investing is a good thing, but the question is what are you going to do if you already achieve your financial goal? Having a good discipline is very important and we should not forget about this one while we are busy looking for other source of income.

There is a basic principle in investment that can be applied even in our daily economic life called: diversification of sources of income.
This means that no matter how much you get paid for doing one job, it will not be enough and you will never be able to save for any purpose whatsoever, and that you will always need money either by borrowing or by reducing daily expenses.
Diversifying sources of income can provide guarantees for the economic problems that occur in your area or that may afflict you from time to time.

Focusing on making money from various sources is good, but everything will be in vain if it is not accompanied by good financial arrangements.
There are so many people who have a large income, but in the end they experience a financial crisis, because of poor financial arrangements.
We must be wiser in spending our money, don't let us spend a lot of our money on things that are less important. Even though we have reached
the financial amount we want, it does not mean our future is secure. Remember, no matter how much money we have, it will run out if it is not
managed properly. Spending our money on investment is a step that we really have to do, but it would be better to diversify investments,
to minimize our risk.

Many people think if someone has money - it is their right to get that money and spend it like the way they want......someone borrowed money from me that he will be dead if the money will not be arranged. And the next day he was shopping the big brands. WHte the .... if you have money why you were begging from me.

A great deal of people think like that, if someone believes that you can afford to lend them money then they feel no guilt at all in spending that money in whatever they want and they have no intention to pay you back.

In fact this is a phenomenon which is reported very frequently by those that win the lottery, as their friends and family members believe they are owed a lot of money and when the lottery winner lends them money they never get repaid, which is one of the reasons many of them go bankrupt a few years after winning the lottery.

Whether it's saving money or making money, the ultimate goal is to keep the money, when you don't have the ability to make money, you can only rely on saving money to make a lot of money. When you have the earning power, make more money and save money at the same time, so that it can snowball and slowly achieve financial freedom.

Unfortunately, Financial Literacy hasn't been taught yet in school in some countries( just like in my place), the reason why many people mismanage their money and have wrong spending habits. People just learned about this from entrepreneurs, from businessmen, and we need to move closer to them for the sake of learning. I can't really imagine the wrongdoings in handling our money, we simply think about spending on liabilities, not assets.

The ultimate goal isn’t to keep the money. I would love to hear your opinions on why people work to earn money cause I don’t think people work hard to get money to just keep it. I think everyone would love to be very comfortable and acquire those things that would get the comfort desired and that’s why people work.
That’s why people work two jobs or create other different sources of income; all to sustain a certain lifestyle or way of living.
A content man will most likely never go broke.

There's no such thing about being contented because a human being does have always that inner desire to acquire more and earn more to live a comfortable and good life which it would be understandable that they would really be doing all so that they would able to achieve on what they do have in mind via those other source of income or whatever kind of way that they could deal of with as long they could reach up their
dreams and goals in life.

We do strive to live a good life in terms of finances and other aspects so we should be smart and do work hard and persevere until you do reach up that one.

People save and earn simply because we all have our personal goals and desires to achieve and saving would be the best step for us to reach the things that we couldn't get instantly. Most of us were not born rich so we have no choice but to grind and earn. We only have to be wise in spending and avoid a wrong lifestyle.

From what I've seen, it's usually the lower class that has issues with budgeting that prevents them from propelling upwards on the socioeconomic ladder. Once you shell out the funds for living expenses, there isn't much left to save or spend on personal expenditures or put into a savings account. I suppose the drawback to hypercapitalism is hyper-consumerism, and the lack of financial literacy. Surrounded by products and services, does it seem beyond comprehension that folks would have a tough time managing their budget? I don't advocate saving someone from themselves -- I would never tell someone how to spend their money.

If you don't have other source of income yet then try to decrease your expenses and lifestyle. Avoid unnecessary expenses and it's true that it will make you have more budget at the end of the month by cutting those unimportant expenses like subscriptions.

We're not all born rich.

But it's a problem if we don't take actions from ourselves and will settle for what we are right now. It's okay to dream big but we also need to achieve something from that dream through self discipline.

I agree with this, people concentrate too much on the income they get and not on the money they actually accumulate, there are many people that may seem to be doing great but at the first moment something goes wrong they get into financial trouble almost immediately, so people need to learn to use their money in a more effective way and to live below their means, if they can do this and develop a solid investment strategy then sooner or later they will reach financial independence and they will not have to work for money anymore.

When I think of the scenario OP had given us, it makes us believe that we are earning by not spending it.  But thinking deeply, we don't earn money in actuality.  Why is it called earning when the money we suppose to spend doesn't grow in value while holding it,  Would the better term be saving money?  In a scenario, how can we say that we earn the money when it doesn't change in positive value?  If you are already holding $10 and wanted to spend it on something but did not, did you earn something?  No, right? But you did save $10.  It is when we invested the saved money and gain a positive rate from it we consider earnings.

Personally I think that the lack of financial literacy is intentional, if people knew more about the economy and how to more efficiently use the money they have available then they will try to avoid being indebted for stuff that they do not really need, because we know that when you buy stuff using a credit card is not rare to pay double or even triple than what you will have paid by using cash.

So not only people have a lot of trouble earning money, they do not really even know how to use the money they have, and this ignorance is what causes them to make so many mistakes and to never achieve any degree of financial freedom.

Spend  on understanding income. don't actually say this simply but we don't use it. As we spend, at some point we find that these places seem normal.But later it is seen that people are getting into debt due to excessive spending.  Due to excessive expenses, people become financially incompetent.There are some people who have more income than their expenditure and invest their money, their case is different. Very few people belong to this category. Day by day the prices of products are increasing as well as the quality of income is not increasing as a result people are suffering from financial crisis.

From my understanding of how to be curious in making money. If you have created the pathways of generating money and it's not diversified, it's very obvious that theirs every tendency that will make you not have the mindset of spending money carelessly. From my own point of view, without spending money you will not be serious of making money. That's from my perception. Because money needs what will trigger your ambition to get money.

Op, you made alot of sense. One thing is having money and the other is spending it judiciously. If you try to curtail the way you spend, you will understand that your little earning is alot. Personally, I saw myself exhausting my data package that lasts me for two weeks withing 5days, I asked myself what has happened to me. I became conscious of it and stopped visiting those sites or social media that doesn't generate any money for me. My data usage has normalised.

My TV channel providers charge me alot to give me dozens of channels that I do not watch. I had to send them proposal to online give me CNN, Aljezeera, Local news channel, EPL and Champions league sports channel and I will pay for only those, they are yet to feed back.
Learning not to spend unnecessarily is a virtue.

We have the same sentiments. I've been paying rent for an apartment that I don't often visit. I've been paying bills that I wasn't even using and buying stuff that I don't need. I was a fan of designer bags but when I had trouble with my finances that's the only time that I realized that I need to cut unnecessary things to survive even if it includes the things that I want. It's all about self-discipline and self-control over being self-centered.

Man's wants are insatiable. Know it and you will understand that man's cravings for material acquisition is in his DNA. The part I don't like in life if when one can afford certain necessities but choose to deny oneself that. What's the essence of money we make if not to spend it? That part which I put in bold in OP's post I quoted above doesn't go down well with me. The reason I said so is because money can't buy leisure. One has to give oneself rest, relax and let others do the work. Paying for such services doesn't mean one is extravagant. It simply means one isn't jack of all trades.

In order to avoid debt due to overspending, we need to track or list down the amount of what we bought. There are so many ways to save money, for ex. it's not necessary to have all the new things if your old thing is still functional. Same with the food that we are eating. No need to cook brand new food but we can just re heat the leftover that we have in our refrigerators. You said people who have more income do invest?

It might be easier for them to do that because they have excess cash but it's also possible for those who are currently budgeting. Instead of prioritizing things that gives you short term happiness like gambling, beer, and cigarettes. Why not use it for buying cryptos or any other assets which can be use for investing? That should help you better in the long run.

I agree with you on this but I have a few questions regarding your contribution. As we all know, there are certain places you find yourself in you can't get out easily and you will see yourself spending beyond your budget even when you are dependent on one stream of income. In a case where you don't have good information about getting more income to take care of your insatiable needs what should one do knowing that the government can't help to give you a good life?


You have inspired me to do more following your useful contributions, I believe the knowledge I seek will come faster if I continue to see more of your good contributions.

Not just that, many times peeps have all the assets and bank balance they can have but start to loose it over the period of time due to the fact that their money is sitting around and they just keep spending it without any second thought. This is many times money coming from their fathers and they dont value it. One thing is for sure, the cycle of earning more money needs to go on and on and on, otherwise it takes no time to reduced the wealth just like that. Money comes very hard way and it takes no time while spending it.

It's always better to have multiple income streams, businesses and proper finance management to keep the growth of wealth and then spend whatever the heck we want. :)

It depends, I guess.

I mean if you don't have any problem financially, then I don't see anything bad on buying things you wanted since you are working to get those things as one of your dreams way back then when you don't have that much money to get the things you wanted. But if your salary is just enough to survive every day, then without money management, that's really a serious problem. Only spend money if you have a lot of extras, but not too often.

It's not bad to spoiled yourself when you worked hard but it's bad if you don't have any limitations.

Sometimes those are the things that push you to try harder every day. It's really not all bad if you spend your own money and see it as a reward for yourself after your efforts. It is true that you should not spend excessively, because life is always full of surprises, and you should have any savings, in case of an emergency, you will be able to use them. I think that is something that is very important.

Learning things will give you that mindset to change up your lifestyle once you figure things out and start

saving for yourself, it will generate good flows of passive thinking. You might start to establish business or investment
to add up and bring you additional money.

It all starts with your adjustments and discipline in order for you to make some good decisions in terms of financial
needs and let go those vices that just letting you to consume your resources.

Definitely, it isn't bad to buy things that we wanted as long as we have money to buy them but, OP wanted to say that we can get even better stuff in the future if we learn to save, invest and get profit from it.  Spending hard-earned money on items we want isn't bad but it is better if we can establish financial sources through our savings by avoiding unnecessary expenditures.  Saving, investing, and getting profit passively in our investment is a much better approach to having funds to buy things we dreamed of.

The quality of what we buy is very important, people have gotten used to buy cheap items that break at the first opportunity and to replace them with other cheap items.

This creates the habit of mindless consumption, which is not right, if instead you concentrate on getting the best possible item even if you have to pay more for it, not only you will spend less money on the long run, you will also create in yourself the habit of saving, which is a habit many people have lost and which is one of the reasons why they cannot ever escape the rat race.

In a bad economic situation like today, we must be wise in spending our money. Don't buy too many consumptive items just to fulfill our desires,
but we must learn to buy only what we need if we have not yet attained financial freedom. Because the rich are not only good at making money,
but they are smart in managing their finances. Therefore, if we are going to buy a product, we make sure to buy a quality one, not a cheap one.
Because like you said cheap products will eventually force us to spend more money, because cheap products will spoil quickly and we are forced
to spend money to repair it or go back to buy a new one. While quality products are usually more durable, although initially we spend a little
more money. Here we have to spend money effectively, so we have money left over from our income, that way we can save or invest and make us
rich if we manage our finances well.

It all depends on each individual in using money for shopping or in using money for needs that are considered important for himself.
So don't blame the presence of online applications that make it easier for everyone in terms of shopping for their life's necessities, but blame yourself for not being able to distinguish between important and unimportant needs so that everyone doesn't have to spend money on things that are not needed. Because with an application that makes it easier for everyone to shop, everyone can save time when they want to go shopping at a traditional market or the market closest to their place of residence.

having a desire in something that is not that important needs excess money and if you cannot provide for that then better forget for a while and work for that because our daily wages or earning will always be for food in the table and for our daily necessity .

but we are lucky as crypto traders because we can have a passive income while we are holding our coins.

I do not agree with this, our desires are not always about being rich or wanting more things. Maybe smaller things could be understandable, like wanting a new playstation 5 is a great understandable logical stuff, it is not expensive, it is not a big deal, and it shouldn't change your life. I could buy one today with my credit card and pay for it in 6 or 9 installments and I will be fine, wouldn't kill me, it is cheap in that regard. But I won't, because I dislike spending more than I have.

However, people who like to buy lambos or ferraris or yachts etc, is not everyone and shouldn't be considered that every person would be like that. If I ever have enough money for it, I will stop as soon as I have enough to retire and just relax at home and do what I like, instead of go out and earn more and get more stuff.

And not all desires can always be fulfilled. I can even think that each of us has many desires both small and big, but the problem is that we often neglect the small in favor of something bigger. I had a wish that was probably cheap enough but had not been fulfilled until recently, namely an electric guitar. But other times I bought a motorcycle, while the cheaper guitar I ignored. It all depends on what you will prioritize, especially when you need it.

OP, having a stash of cash is the best way to help you have backup when you need it. We can't expect too much from other people's help, so keeping it in reserve is a good option to prevent problems. It might be good not to be too splurge, but that lust is hard to control.

Well less expenses, more money to spend on other more worthwhile things. So yes, you can say not buying is "earning" if you actually put the saved money on something that gain value.

I don't agree so much about refusing to "third-party" tasks. As you progress you'd want to be able to delegate/outsource many tasks to leave you with more time to then use to other more important actions. Time is something worth paying for.

It all matters about management of things on which it would really be just sensible act for you to do so on dealing with something which you can see for it to be useful in longer runs rather than on dealing up with something specially with expenses and not worth kind of spending which would really be putting you out on a big trouble once emergencies and needed of funds would really be happening.
Speaking about getting different various sources whether from other work or some investment or business then it is really just a casual thing or mindset of everybody.
Doesnt matter on what form and what way as long it could give out the chance for you to earn more then thats what it counts.

I mean we are talking about people who do not have financial troubles. Imagine a billionaire who spends a million dollars to buy a bottle of "special" water, it's regular water actually but someone tricked that billionaire. That ain't going to hurt him, dude has billions, a million dollars for a million dollar water for once will not hurt him. This is of course a huge example, it's not like that, but if you live and you do not have a financial debt that puts you under duress and stress then you shouldn't be worried about it.

I lived all my life like that, I did whatever the hell I wanted, and if I got into trouble then I stopped and paid my debts and then when I get back to being good, I restarted to enjoy life again, and repeated that all the time.

Good point in terms of security. You should always have backup / savings like what you said. It's hard to ask help

when emergency comes to you, better to have savings so you don't need to bother anyone. It's more on balancing what you need
against what you just want.

Buying or consuming your money from the needs and save the spare is really an advantage. If opportunities come up, you can
use your spare money to invest or to put up your own business for more passive benefits.

Well, even in wanting what you called "smaller" things like Playstation 5, your appetite is still not quenched. It's still searching for something. That's why it's said to be insatiable. It's not necessarily because what you want is expensive. After all, there was PlayStation 1, 2, to 4. Why not settle for the ones you had. Why buy a new one? BTW, that PlayStation you called smaller thing could be a huge project for someone else to buy. You know that? It's the same way those who buy Royce or Lamborghini may not think what they're spending on is a big deal.

Well yes, if you can earn more by delegating a task, then that's a good reason to do it. If someone can do it better than you and you can pay that person something less than what you value your time, then good.

I believe we have all gone materialistic and for this we are running after money - we want to have money whatsoever is the source
Even if that is hurting someone. I know a friend who has been trapped and the scammer took a big loan on his name - now he is paying off the loan which he has never taken. I wonder what if my friend dies - will he be questioned by God about the loan he has taken?

50% agree with you. Following the trend or using luxury products will be worthless if you cannot generate a profit. However, you are a celeb or kol or working in the fashion industry, I think it's worth because it is a tool to help you earn more money.

Do we want more money or want to be contented? Human needs are insatiable so says the economist. Multiple streams of income would make the individual have more physical and material resources but this doesn't always equal contentment. Or does it? I have seen people with more than one income stream live frugally and have seen people with just one income stream live lavishly. It all depends on one's value system. Just pick the one that works for you.

I haven't seen any income earner who is contented except the chose to rub their payment system. It takes risk takers who find a way to make money work for them that breaks this fear of going back to the trenches. Multiple streams of income isn't enough guarantee to live comfortably because the more money an individual makes the more responsibilities the face. Investment is just the way to securing the present and future alike. Contentment is only found when a risky decision turns out positive

But we know that human being doesnt really have that contentment when it comes to money which is really something not that surprising because people do really hope for more money no matter what circumstances

they would really be able to encounter.We would be finding ways as much as we could and there are people who do really not make any action towards things but they do hope for some improvement?
It would really be just common sense that you would really be doing extra effort and make out some investment if you are really that tending to make yourself better in terms of finances.

As I've mentioned in a reply to someone, it's not the pursuit of money that's does harm but pursuing money over everything else: family, morals, etc. There's a big difference between taking an OT to earn a bit more to doing something fraudulent to increase your sales figures (like in the infamous Wells Fargo case).

It's unfortunate what happened to your friend although it's not necessarily all his fault. How was a scammer even able to take out a loan in his name? Couldn't he have filed a fraud or identity theft case or something? Only reason I could think that he became legally liable for a loan is if he acted as a guarantor for someone he knew and said person just disappeared.

Correct! you need to exceed from your limitation in order to earn success, in most cases, those who are

working hard is the one who manages to find good success in terms of financial status in life. They do their best to find better
ways and do everything to make things possible.

though in some cases, luck also influences some from winning lottery jackpot, inheritance from love ones, but if you
really wanted to change your financial state. You need to work and be wise enough to find success.

Yes, it help the citizens to feel the flow of money, were there is a solid economy in the country which is the best economy each country what to have in their land for their people to make progress. That is why the government use to budget a huge amount of money on a particular project, so that it will make the people that participants on that particular project to have enough of money to spend in the communities that will make people around the communities to get in touch with the money.

There are numerous legal ways to make money. My personal opinion is that there are two approaches, namely your work and investment. According to my understanding, exerting effort entails participating in all activities, just like you would while spending money. As part of making money, aim to limit unnecessary expenditure. When you invest in things like cryptocurrencies or people, you can make money through them.

This is highly subjective because one's need is not necessary for others. Daily wagers and the poor spend a great deal on essential things than others. So we can't judge their spending, but budgeting their income and expenses can help everybody balance their spending. It is therefore important to draw up a budget in order to achieve savings.

This is partially true!  Working hard indeed contribute to success in financial status but it will have a synergized effect if coupled with being smart.  There are lots of hardworking bodies everywhere but many of them remains at the same financial status without any chance of getting upgraded because they keep doing the same thing.  Brain and brawn(being smart and hardworking) should be mixed well in order to have a huge success if a person wanted to have a prosperous life.

Overrated, it's not very good. Especially lust.

I also experienced the same thing, when I have more money, I really want to spend it. But, I thought again whether after I finish it, I will regret it?. So I thought twice. I ended up buying what I needed, and not buying more. Therefore, the item is there, and I have money left over.

 That way, we can save money, without the need to buy excess goods. But depending on the needs of each person, the needs of the person is very different, in every condition.

There are 3 kinds of needs, namely primary needs, secondary needs and tertiary needs. We can reduce our expenses through this. We can not procrastinate what is our primary need so the first thing to do is fulfill that need. While the secondary and tertiary needs we can press as deeply as possible. We do not need to fulfill needs that are not considered very important or even just to fulfill our prestige. Because what I've learned so far, that's what makes us financially difficult, namely living with prestige. We can save money after we have met our basic needs and if it is really important then set aside for the second need above.

Most people doesn't count that if they buy something they pay with their time. We shouldn't forget that money cannot buy only time. For instance if we are going to buy clothes we must calculate how much we will work for that clothes. Think of the moments when you get out of the warm bed in the morning; think about the pressure your manager puts on you, think about how tired you are when you get home in the evening. If its not problem go and buy mate :)