Bitcoin Forum

is self control enough in this economy?

in order to save money, is it enough to just prevent oneself from buying things unnecessary or limit ourselves to only what is needed to survive? is this a way to live? is there no other easy way aside from earning so much?

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

You will never get rich in life by saving money, because inflation comes, which will definitely affect your money, no doubt about that. The best way to get rich is by taking risks, and if you are not ready to take risks, you will hardly get rich. That is just the fact. But other people think you can get rich by self control, yet that will only happen if you dedicate yourself to investment and stop unnecessary spending, just to invest more for your future. If you are concerned with the luxury lifestyle, you will definitely stay where you are without improvement, and luxury lifestyle pays nothing. It only helps to run down your account balance.

So, self control is good if you are investing and not afraid to take risks. But if you are hoping to get money by luck, then you are deceiving yourself, as the chance of luck is 0.01% out of 100%. It is not a possible thing for everyone. You need more experience and risk taking before you can get rich.

Self discipline is what you mean, I think. Everyone controls their self. Not everyone has learned discipline.

Lack of salary? Why depend only on a salary in a world where you are free to make money with anything? There are girls selling bathwater and guys posting with an ad in their signature on the Bitcointalk forum for a weekly pay. There are many different ways to make some extra money.

If you lack self discipline of course you are going to lose all your money everytime a new I-Phone comes out.  :D

A person with $500 balance: I will work harder, save money and invest, so I can buy whatever I want when I reach $1 Million.

After he has $1 M balance: Hmm, better to buy real estate, stock and Bitcoin instead of buy dream car.

The message is, if you're not rich and trying to get rich, it's high likely you will not spend money for unnecessary things after you have a good balance in your bank account. You can still able to improve your life, but you will make a calculation and think thrice before buy something.

Unfortunately that's the only way for poor people to rank up, you need to live frugal for at least 5-10 years.

Self-control is an important characteristic and quality for a person. Although self-control is a good aspect in my economy. Still, sometimes I cannot support my family with my small salary with self-control. I may be an adult and my wife is a patient woman, but my children are young and my children have not learned to control themselves. Sometimes they pledge some luxuries that they cannot support themselves without buying. So although I can control myself, it is not possible for my children. Because of this, sometimes it becomes very difficult to support me monthly with my small salary.

Self control is really important though, cause its also possible to earn enough and still be poor. One needs to earn, but even when not earning enough, a person can still become rich when they save and invest little by little. That's how compounding works, and its very important and powerful in finance. it'll take time definitely, but it doesn't mean it wont happen, or you wont get there. Limiting ourselves from over spending is possible,  though not easy but possible. I like to think of it as a little sacrifice for my future self.

Another way is to learn a high income paying job. Although it boils down to earning so much, but its still important too.

Honestly, @Egii Nna is right, you'll never get rich by simply saving money, inflation eats that away. The only way is through investing and/or finding ways you can earn more moneyz either that's by finding a better paying job, or a second one. This doesn't mean that you shouldn't have the discipline to control your spending habits. I personally prefer to avoid purchasing unnecessary stuff, my only "unnecessary" expense is occasional tool purchases and eating out every now and then.

In conclusion, you should save, but if you're barely making ends meet, cutting expenses isn't going to cut it, unless you're reckless, but your current income is.

Funny enough the rich people too have self control, they don't go about spending anyhow and taking unnecessary risk, and they still live a luxurious lifestyle too, that's why have lots of advisers and managers they listen to. If you must take risk to be rich, you should take a calculated risk, not just taking risk for the mere fact that it might land you to riches, else you will regret ever taking such risk.  Wealth can be built gradually from self-control, it takes time to build wealth, that's why you need to go through the process gradually so you can maintain it when you get high up there, the process will allow understand each step and how to retract when you are likely falling off.

It depends on the money that you have.

Just make sure that even if you spend on necessary or unnecessary things, make sure that you are saving for emergency days and also built your wealth. Live your life because life is once, but spend wisely.

Saving up to 70% of your money is good if you are receiving enough amount of money weekly.

Well, self control is certainly important, but cutting costs alone is not the answer. Controlling your spending means you are cutting back on waste, but it doesn't make you rich, it just helps you survive. The real problem is the gap between your income and your expenses. If your income increases along with inflation or the cost of goods, then you can't go very far just by saving. Another limitation of self-control is mental fatigue. If someone spends their entire life just to survive, but doesn't plan for the future, then at some point, depression will set in. No matter how tough the economy is, finding new ways to earn money and making money work for you are both essential along with self control.

So in my view, self control is the basement, but building on it, increasing your income and smart investing are the main steps to the future.

Treating the economy right is important, we have to be involved in making self control of many things, but it doesn't end there, because we need to develop a feasible business model and work in line towards the best plan we had for it success, many lack the ability of running a business, because of poor management practices, had it been things like this have been in place for long time, maybe things would have been more better than we ha e today in our various endeavors.

Let me add. Any money you manage to save should always be put to work. Step by step, you'll generate a steady stream of passive income. By working only one job and saving wherever possible, you'll be able to set aside a certain amount, which should become a profitable investment. Of course, you need to carefully research the places you trust; it's not exactly a waste of money, but you should understand that any profit is just a step toward your dream. A good choice would be real estate that you rent out, and of course, while on this forum, investing in Bitcoin is a must.

Self control is very important for anyone in order fod him to be able to manage his finances properly. If you lack self control, you will spend extravagantly even when you have little and wouldn't be able to cut down your expenses. Cash inflow management is very important for anyone that wants to be successful in life.

When you have a good cash inflow management, you will prioritize spending less on consumption and focus more on investing. The problem is that a lot of people feel that they cannot invest with the little extra bucks that they have which is not true. Little starting will definitely grow into something big.

If you have perfect self control as of right now it does help but may not be enough.

I am married so no matter how perfectly I can behave I need to respect the way my wife behaves.

So if you are a family man wife and kids. or yo are a family woman 👩 with a husband and kids.

your perfect self control can be overcome by bad control on their part.

Luck matters a lot.

buying btc at a dollar a coin in 2010 was possible.

So if you grabbed 100 coins and used your perfect self control simply hodl till they reached 100,000

sell half giving you 5 mill and you still have 50 coins.


but you needed to be lucky to buy the 100 coins in 2010. you simply may have been too young to get them.

Inflation can inhibit all human desires and needs, one of the most fatal turmoils of inflation, namely rising goods and low money values, is currently facing the world globally the effects of inflation.

Example: You work your salary never goes up, remains that much, but the price of goods continues to rise and a month can rise several times, another example of gold prices rise and we have to buy with a high value, for example 1 gram of $ 100 gold when the economy is stable $ 100 we get 2 grams of gold, soalso other items.

For this reason, the current world economy is not friendly with human life, for that with the current conditions we need to save money, meaning to buy based on needs, which does not need to not be purchased for survival.

This is all big lie. The rich people spend money all around. But they dont spend money to look rich, they only spend those money on things that will bring either ideas and growth into what they do.

You also talk about risk, honestly the rich at some point are faced with decisions that might make them lose everything, what do you think they do? They take risk, huge risk. The rich are self aware, if they do not take risk they wont be richer. It is a must in their dictionary "no risk, no gain".

A control doesn't assured a person to be rich but what it does for you is that it changes how you use your money because you cannot have that control and still be using money on the things that doesn't matter, although the rich could also emerge from having a self control because is one of the factors that eradicate distortion of positive conviction by creating the belief that the only way those dreams they have would come to reality is when they think towards it and not just thinking but also cutting off some of the over usage of funds they usually do so that enough money will come out through there savings and channel to something resourceful. You are also right because not all the poor people today lack control because they actually have it but there is no finance or income provider.

You don't only need to control/tame the urge to consume unnecessarily or wrongly, you also need to be very productive/profitable. Try to make sure you produce way more than you consume, and you would have enough to consume or enough money to spend on consumption.

But it's important to consume the good things you need rather what you don't need. This will help strengthen your invisible shield or bubble to enable you resist the temptation to consume unnecessarily.
Bad consumptions weaken the shield and the ability to resist evil or unnecessary things.
Besides, it's not about consumption of food and water, it includes information. Make sure they are all good and always consumed, and you will be able to resist evil plus become healthy and knowledgeable enough to be very productive.

Self-control is the very attribute someone should have in today's economy, to at least help them in surviving,  since the cost of things is high, money doesn't always come the same way our daily or weekly spending does.

For someone that thought of making something good out of their life, not continue living a moderate life, thinking to be rich, would think of making investments, grabbing every opportunity that comes their way with a calculated risk, and not relying on single source of income.

I'll tell you the meaning of one successful man's words: he said that starting a business and getting rich is very difficult, but investing in successful companies is very easy. You don't need to limit yourself too much; if you can spend 0.1% of your income on investing, you'll probably succeed.
But if you want to get rich in a year, you'll likely lose all your money.

Expensive prices does not deter someone from getting rich because even rice people thrive in expensive things. Have you thought of that?

Have you observed that some rich people don't buy cheap things, they buy expensive cars, jets, jewelleries, drinks and what have you. They do that because they have money and the money keeps coming. So what do you think is the secret? Diversification They have diversified into different business areas and they get profit from those different areas. So even with inflation, bad economy they are still doing fine financially.

Therefore, the most important thing is the capital. If you have capital then you diversify into different lucrative businesses then the economic hardship won't hold you back from increasing financially.

Rich people spend alot of money sometimes frivolously but they have different ways that they get those money back unlike some who depends on just one sided income or no income at all. The poor will surely be mindful of what to spend money on because of limited resources. The lesson is to diversify in investment.

The purpose of self control is for you to be in a position where you will always have money to fully engage in any money making opportunity that comes up. You do not get rich from saving, but from using the money saved. What this simply means is that if you cannot be disciplined enough to practice self control, you will miss most investments opportunities that have the potential to change your life positively.

Self control is likewise important for preservation of wealth.

Self control works but I don't think its the best option. There is a level to which we prevent ourselves from buying the so called unnecessary things and end up being trapped in a cage of deprivation such that even after making the money or having enough to meet up our daily needs we just can't touch our savings because we feel it is unnecessary and we miss out on life experiences

Disciplines will always be a major form to suit the situation. It doesn't matter whether you're rich, average or less privilege. Nomatter how wealthy you maybe, if you undermines disciplines and lavishly spending above your incomes, you're definitely going to get broke somewhere in the future so, it's expected that we adjusts our manner of spending not just based on the condition of the economy but the values of our incomes.
With the nature of the economy pandemics being more terrifying as inflations erupts in the due times, it's obvious that those holding their funds in the banks for long term suffers the most because the fiats in question looses it values against the inflations. So to curb this tension as cost of living gets high, it'll be necessary to "cut your coat according to your size" if your income must survive you in the long term. So after considering disciplines, it's of essence to have alternative source of incomes especially investing on where the value of your funds would have the potential to maximize the values of your funds even during inflation.

If your goal is to become rich make sure you put your health in the same level as how much you want to get rich, many people don't look after their health until things start happening with their body.

Saving so hard to invest later isn't easy and some work are more harder than the others, if you are into heavy work or jobs it is wiser to look after your health, always go for checkup every six months Max.

Don't be greedy with your health, don't wait until you get rich before you look after your health, it could be over already before your dream come true, I know two people that passed away this way, they give all they can but ignore their body and health.

Yeah self-control helps a lot, that's for sure, but when the unbridled price increases and wages don't work in your favor, that alone won't make you rich. I would say that when you budget hard and cut your spending, you automatically create a safety net, but if you want to survive long-term, these are not enough, then you need an additional decent income from a side job or other sources. Along with that, you need a smart investment plan, these will protect you against inflation. You know saving more of a meagre pay cheque only goes so far because real wages have been low in many countries since the covid pandemic.  so nowadays if youre not investing or making more money, rising living expenses will eat away at your savings. 

So, sensible course of action imo is to reduce your expenses while actively focussing on your income & investments, cause only cheap frugal living by itself usually doesnt work as a wealth plan, mate..

Self control doesn't stop at savings alone, it's what lifted most investors of this century into building their dream tools and machines. Self control can be on quality rest, holding our self accountable that we'd make sure to sleep at a specific time and wake up in due time to follow our dreams. Being in charge of the body we own, helps a lot, in achieving our goals. It's discipline and with silence added to this measures any human wouldn't regret stepping into any journey of life wish they've chosen.

I have been used this method before that when i got the monthly salary i was only spend for necessary thing and holding back to avoiding to buy the things i really liked and indeed i can see the money into my bank account increasing for every month because i can saving money but unfortunately i still not to being rich and if the goal is want to be rich i think this method is clearly wrong because the money value will be decreasing following the inflation and to growing money i think investment is the best way but choose only good for long term and rich people don't saving more their money into the bank but usually they will look for investment tools who have potention to grow in the future

Elon musk said "the rich people invest their money, the average people save their money in the bank and the poor people eat their money". This means that you can never get by saving your money in the bank.
If you are drawing scale of preference by only buying those things that are most important to you, that is not wrong because is always the case when someone don't have enough money there have to be some foregone alternatives.

When you look at the world economy today, the richest people are the investors, the entrepreneurs who are willing to take genue risk and take advantage of business opportunities .
In nutshell you can only become rich when you invest your money and not when you save your money in the bank.

In a mdern society adopting the consumption culture model, it's not easy to get rid of all the necessary stuff we buy during whole life because this is what determined anybody statu in his community. If you don't own a house with three bedrooms and two bathrooms, you are not able to marry or have a partnership family even if you are aiming to have one child or not even have children at all. In societies, they give employees bonuses like travels or consumption tickets to buy foods from restaurants. The culture of eating in restaurants itself is a consumption phenomena because we build kitchens within our houses and we should be able to cook our meals by ourselves.

I guess you are talking about saving a part of their salary by spending less money than they are doing and will that make them right?

Nope? it will not, but it will give better breating space, a little money in their hands that will be the first step of the big change, once they started saving money then they can invest, even someone who is not saving thousands of dollars every month still can make good returns if they are consistent and started early as possible.

I bought a house with hunger. It depends how much suffering you master to maintain course.
Many religions tell you to invest a third, save a third and spend 40% on yourself.

Perhaps self control plays a role in managing money wisely but it cannot on its own create wealth if there is no steady income to manage in the first place. Saving from what you already earn is only possible when that earning is above your basic needs and this is where many people struggle. Even if someone practices strict discipline the lack of sufficient inflow limits how much can be saved or invested. What really changes a person’s financial standing is combining self control with finding ways to grow income streams so that there is always something to allocate toward long term goals. Without that balance self control only prevents waste but never really opens the door to growth.

You won't become rich even if you reduce your expenses to a minimum, because becoming rich isn't about saving, but rather investing and growing your income. Simply reducing your expenses is only a short-term solution, but it won't help your life in the long run. So, it's better to invest and continually look for ways to increase your income, while also managing your finances wisely. This way, you can improve your situation in the future.

So saving, investing, having self control and yes, earning more. Being into these will make you survive these tough moments of the economy. Self control isn't enough to be rich. I think if you want to be rich, you need to earn more, save more and invest more. Or you can remove the save more and just put that money to something will generate more like in Bitcoin. You'll end up with more of it and all you have to do is to make sure that it's placed on an asset that you know and will have a better future or a high chance of being successful.

There are many ways to earn extra money. You can find them by researching further. Without self-discipline, you'll continue to spend your money on frivolous spending, and your monthly earnings will run out every time you want to buy something. By saving money with self-discipline and investing that money in assets like Bitcoin and gold, you could one day become even richer.

If you have self-discipline and can't manage your spending, you won't even get one step closer to rich.

One way to become rich isn't by spending less. By spending less, you contribute to your own finances and save more. While avoiding unnecessary spending after determining your needs won't make you rich, it will contribute to a better economy.

Proper investments and managing your finances effectively by creating multiple sources of income are some of the best ways to become wealthy, but doing so doesn't always guarantee achieving wealth.

This is reality speaking. Even if you're the best budgeting guy in the world, it's not enough because expenses will keep its cost on the rise even how good you are with it. Investing is the way to become rich, if you can't get a high paying job. This is your best bet to become rich or at least live in the middle-income earners. Having a full time job and some side hustles will also keep up with the inflation and high cost of everything. Also, try to lessen the other expenses. Small amounts of your subscriptions could pay for your other bills or could be for other assets that you can have.

Saving alone won’t certainly make you rich. No matter how disciplined and determined you are, if you don’t take risk and invest, you will never get rich in the process.

However, I have to agree that saving these days is seriously a matter of self-control and discipline, most especially that inflation is high which affected prices of our daily goods and services. If you don’t have self-control and discipline, saving will always remain a plan and goal, unless application starts to be seen.

Well, from my perspective, living off of the bare minimum and cutting out unnecessary spending is a survival tactic - not a wealth building strategy.  Its a way to get by, not to get rich.  You can have the worlds most stringent self-control, but with little income, you wont be able to save very much.  And there is only so much you can cut.  You cant budget your way out of a minimum-wage for example.  The math simply doesnt work.

Dont you think the real question is not about your spending, but about your income?

Self control, which i would prefer to call discipline is not only what is needed to become rich, but it is an important part of it. However, you must add investing to your discipline and you must invest in the right assets, some people still save money in the bank and they expect to get rich, that is not possible. You save money and then you put them in investments that rise against inflation or maintains their value even in a crisis, BTC and gold are very good examples.

To become rich, there is no role in stopping unnecessary spending, but you must spend money on the things you need. If you do not spend money on the things you need, you will be deprived of your basic needs, which will prevent you from living a healthy and normal life. And then you will not be mentally healthy, which will prevent your progress. So just reducing unnecessary expenses and finding multiple sources of income and getting involved in business is very important to become rich. No matter how much money you save, if you do not have enough income, you will not be rich.

Self control alone hasn't and would not make anyone rich. You will not get rich even with the highest level of self control cause while it does help greatly in managing how and what you spend on along with your overall savings, it doesn't help in making you more money. With self control, you would have the will to turn a blind eye to what is not needed and not having to spend frivolously.
If you want to get rich, self control would greatly help in the journey but the wheels to get there is majorly acquiring one or more jobs to increase your income, along with investments of course.

Self control is just one of the things you need on your journey to becoming wealthy, it's not that only thing you need to learn but it's very important. There are so many reasons they you must learn to discipline yourself. A reckless spender cannot be wealthy for a long time, after a short period of time they end up broke. When you ares still on the come up in life learn how to control the little you have otherwise when your opportunities come you would misuse them

Saving money alone without any plans to make it increase isn't going to make you rich, having self control and saving automatically doesn't mean wealth, though self control is needed in your journey to wealth and also preventing yourself from things unnecessarily especially things you don't need is also a good way to get rich but that's not the only way. Being reckless in your spending will leave you at the button financially and if this habit isn't managed properly then you have no business being rich, self control can also be referred to as discipline and it is a key factor that contributes to riches.

I am sorry to break it to you but, self control is no longer enough in our today’s economy as we may have it.

Many of us don’t even get to buy what we don’t need or consider unnecessary anymore but even then, we find ourselves living difficult lives. It’s what our societies have turned out to be with inflation being the order of the times.
Self control would certainly help you to some funds but, it doesn’t change the surging prices of commodities in the market. They are what drives the economy more.

If you want to get rich in life, create your own life’s strategy. Saving may be a good start, but once you’ve earned enough, be wise and smart where to put your money then. Investing could be the key in getting rich, but always know that not all investments can make you earn riches, but investing on the highly potential assets like bitcoin may open doors for you to achieve your dreams and goals in life.

Furthermore, diversification creates more opportunities for you to get wealthy in the long run. Invest and reinvest, and invest into other profitable assets as well that suit your knowledge, passion and skills, that way you will always be motivated to keep investing and grow your current wealth.

This is the wrong way to get rich. No one can ever become rich by saving money, rather you have to take risks by saving money, i.e. investment. Naturally I do not want to tell you about investment, because it is beyond the scope of the subject.

Avoiding unnecessary expenses will not be enough to save money, rather you have to learn to produce. It can be anything for your daily needs. If you have a lot of vacant cultivable land, then you can reduce the cost of meeting daily needs by cultivating it or you can sell it and earn extra money and save more money. Or you can try to find the hidden talent in you and produce and reduce the cost of meeting daily needs and earn extra money. There is no alternative to production to save more money. But my advice would be, do not save money and leave it, but invest it with risk. Due to struggling with inflation, you will start reducing the value of your money.

In the current inflationary times it is very difficult to reduce the amount of expenditure despite your desire. After fulfilling the basic needs as your income increases the additional needs that you have gradually become basic needs and you cannot reduce that expenditure so easily. As your income increases your mental readiness also increases similarly your expenditure also increases. If you are an earning person you will see that the income and expenditure flow that you had five years ago has almost doubled or tripled. As your salary increases every year your expenditure also increases. Along with the basic needs additional needs also come together. I have tried to reduce family expenses by applying various strategies to save money but in reality the demand also increases with the income. As the income increases, your expenditure also increases.

you can’t control yourself without discipline and since you said that you not everyone has discipline we can say not everyone controls themselves

there is a difference between not doing things because you have no choice and not doing things out of your own will
we can still call that a salary no matter where it comes from it’s still money and honestly it’s not as easy to make money no matter how much options we have now

No, self-control is not enough to sustain our needs. We need to find a decent source of income to enable us to have money to buy our needs.  Discipline cannot provide us funds for our necessities but it will definitely help us to control everything we already have.

To survive, we need food, to buy food we need money, to have money we need to work.  In this discipline can help to have a decent life but without money we can never achieve this.  So discipline is not enough in this economy.  Btw, we still need to have critical thinking, smart decisions and many more.

Self control by depraving urself of buying things in my opinion is futile, you'd eventually spend your money to buy those things you want.

It's always better to just earn more, you can buy things and stash money for investment.

I just never really agree with the idea of saving, it just doesn't sit right with me. Saving money bits by bits until it stacked enough to invest then what happen if market turns bad and your money gone?

Would you want to go through the path of ascetic again? I just think it's plain foolish. Just improve your skill and do side hustle man.

Yes I know self control matters, but I believe once in a while you need to listen to your self and enjoy your life, life is just once brother, even in the midst of your challenges in life, after too much thinking without a solution on how to become that really rich guy, go to a bar, grab a bottle, and have peace of mind.

You used two terms, you first said "in order to save money", and then you said "end up getting rich", so let me clear one thing first; saving money doesn't make you rich in no part of the world, it only allows you to have some extra funds that you can use for something in the future, and that becomes a possibility only after some years because you can't save enough money to be usable within a month or two, unless you make a ton lot of money, in which case you don't even need to save but anyway.

Self-control and not buying unnecessary things or spending money unnecessarily can make things better, but it's not going to be a long-term solution, especially if you live in a country where inflation is gradually rising over time. The only way for one to be able to save money and have a balance in their life financially, it is important for them to have more than one sources of incomes so that they make more money than they need to spend in a month, which is the only way they can save some of it.

I think the right word to use here is discipline, self discipline. After discipline that’s where self control comes in, cause if you’re not disciplined, you can’t have self control. Being disciplined doesn’t make one rich, everything boils down to your income. You can choose to be disciplined, save money and deprive yourself of some certain wants when you don’t even receive good income and at the end of the day does that your savings make you rich, no it doesn’t. What can make you rich is your mindset on how to invest does money you aren’t spending, into something more profitable that will multiply that money.

Mind you not all investments becomes profitable, that’s why as someone who wants to be successful, you need to choose wisely on the investment you want to do, so that on the long run can fetch you good profits. Not all investment makes you good profits immediately, that’s why it’s always advisable to have patience when going into an investment, with patience you can succeed but without patience you go into regrets.

Self control plays a very vital role in our lives because this could help to narrow down things we don’t want or need in our lives, it would reduced unnecessary expenses and how much we do play with especially uncalled celebrations, outings and shoppings.
When you have self control you can save up money and do not allow your money to control you whereby you would be wanting to buy everything at all cost living a showy lifestyle and wanting to impress everyone that comes across you could actually leads you to lacking.
The best practice is to avoid all these and live a cool life and mind on what you spend.

Inflation is rising, and minimum wage still remains the same; there is no way one can survive on salaries.  Saving in this condition will be a near impossible task even if you live extremely modestly.

Seeking other sources of income, like securing a side job or starting a business, would be good options if you want to save. Saving would later be channeled to investments such as real estate,  Bitcoin, or precious stones.  

Of course, if inflation rises, salaries will remain the same, making it difficult to cut expenses and limit unnecessary purchases. This won't solve the problem and may be temporary, but it won't help in the long run.
The best way to address this situation is to increase your income by finding a side job or doing something else that can supplement your income so you can still meet basic needs without having to cut back, especially on food. Spending money on non-essential items is inevitable and shouldn't become a habit unless absolutely necessary. And by having a side job, you can increase your income, which you can use to save and invest. This doesn't have to be a large amount and you can do it gradually; even small amounts can add up over time. To cope with inflation and a fixed salary, we need to be independent and smart in dealing with it because no one can help us but ourselves.

No easy money that we can earn without hard and smart work. We can self control to prevent buying unnecessary things and remind ourselves that we don't need that. We need to save our income some portions for our future so we can still survive if the situation worsens.

But we also need to reward ourselves if we can earn more money so we can remember that if we can do many things, we will get something positive for ourselves. We can live simply without following the life style because that is not important to us. Let others do that because maybe they have more than us.

On average it's about survival for most of the world economy. Dreams, visions, and expectations are collapsing on daily basis, innovative minds find no sponsor or motivation to go ahead. Life gets cruel each morning with rigorous tax policies on citizens, where all the generated money are not accounted for. Savings doesn't help so much, citizens are faced with a high hit of inflation that brushes back up money to get leaner. However, it's fine to reward ourselves, it kind of revatalize energy to face what's after us - poor governance.

Self-control is very important when it comes to saving money. Self-control can also be referred to as discipline, and you can't do without discipline if you want to manage your money well.

Even if you increase your income and are being paid very well, if you don't have self-control and apply discipline, you will still end up blowing all the money and will find it difficult to account for how the money was spent. Just self-discipline alone can't make one rich; you have to work hard and invest to become rich, but self-discipline regarding how your money is spent will help you channel your money into productive things. Working hard and self-discipline go hand in hand to create good value.

There's a point where earning a decent amount of money and saving meets and that's where effective saving habit can help built someone's finance. The first thing is that you need to ensure you're earning enough afterwards you can talk about the percentage you're allocating to your savings and then in the process of savings, discipline and self control can then come in which will help you save effectively.

Even when you start saving, you need to also factor in making the right investment because savings alone does not yield good returns if you're not investing.

Having other sources of income surely makes saving and investing easier, that way one would have enough for their daily expenses and something left for investments. However, there is something i read and i believe it to be true, if you cannot save from the little you earn, you would probably struggle to save even if your salary increases. Many people who became successful investors started investing when they had little, they believed in compound interest and they started very early.

Reducing the cost is just half of the storey, not a comprehensive strategy in itself. You can retire wasteful expenses and live cheaply, but how much more you can save in such a manner is in a kind of way limitless. On the contrary, the upside on income is far greater. The reason is that wealthy-building individuals tend to mix the two: they manage their spending and are also on the hunt to increase incomes and invest their savings.

In the past, even when inflation was high, cash savers lost their wealth. Investors in productive factors, be it land, businesses or subsequent stocks and Bitcoin, were the winners. Balance is the trick, then, make enough to save, don’t lifestyle inflate, and then invest some of those savings in investments that will grow over time. In that manner, you do not simply survive, you create.

You are right. For someone to make money, they must have a mind for taking risks because without taking such risks, they may be due to be poor. Furthermore, no one makes it while sitting at home, so we must take risks before making money.

Some people think saving up money will make you rich. And to me that is untrue because when the problem is everywhere, how can someone save? I think the only way is to invest in something good, but saving won’t change anything; rather, save for another purpose, but saving money to be rich is going to be a difficult one.

Self-control can protect you from excessive spending. To save money, you must refrain from unnecessary things. Again, you should buy only as much of any necessary thing as you need. As a result of self-control, you will not have the desire to enjoy something immediately when you see something from others.

However, one thing is true that if we deposit money in the bank every month, then maybe we will be able to live well, but no one can become rich like this. There is no chance of getting rich quickly without investing somewhere. If you analyze the biographies of the world's richest people, you will understand that they never had one source of income.

I will pertialy second this strategy of self-control, because this strategy gives you a clue to make your savings, but doing that will not make you succeed in today's economy challenges. When we talk of financial stability, then we need to focus on the highest priority or the needed items or assets to avoid spending extravagantly or buying some unnecessary items. Nevertheless, the status of financial wellbeing is also essential because when you think of additional strategies other than self-control, having financial plans, such as creating another source of income or having a reliable investment, is necessary to be able to surpass the economy's challenges.
 Moreover, self-control may also not work for some individuals, as such, some individuals will prefer financial discipline because it covers everything.

for me self control can be seen as a determination because when you are determined to save your money or not to spend on necessarily that's self control will make you to accomplish your plans but if you don't have a self control you have determination is not going to stand and you may divide to another thing that we useless your plans or useless your money, that is why is good for we to have a direction in anything we are doing, but a process whereby we don't have a direction who will spend unnecessarily, so whatever thing we are doing we should do think of it in time and take a drastic decision about it in time so that it will not affect us because once we fail to take our decision in time whatever thing we have in mind or whatever thing will plan cannot be achieved

If you want to save, having self-control and motivation is a must. But if you want to go beyond that, and eventually get rich, having a potential and profitable investment would make it possible.

Save and invest, these are the keys to achieve success and start building your wealth. But never settle on saving alone, like letting your money sleep in the bank because obviously, that will never make you achieve something in your life, the value of your money will depreciate instead.

Only solution is keep investing in things that will give you high return in 10 to 20 years if you are still young enough but if you are not then live with need and not wants.

Recently I find myself questioning if I really need some things that are necessary for household but the usage is very much low so I kept them since their use is not too rigid and can be bypassed with other stuffs I believe that's how one who wants to escape the economy stress should act.

Prudent spendings are key to healthy financial managements.it saves one from spending on irrelevances which will enhance building your wealth and saves for future emergency situations.

It depends on the economy of your country, and the kind of jobs you are doing and the kind of load you are carrying at your current age, who are you the first place, are you single or married, do you have girlfriend you keep with you? If you are single, how many rooms are you leaving in, how much are you earning?

If All these questions are answered then, the possibility of knowing where to end and how to cope and how to leave will be assured.

If you are still leaving on salary as well as not meeting up the most necessary needs, food, clothings and shelter, you cannot escape the economy and start building.

Looking at the economy's growth and how it's affecting the country one needs to apply self control in most things regarding spending cause this period seems to be a taunting one and the energy you give out during this period matters. So staying on budget and buying useful and necessary things it's better of than following one's emotions and urge to spend uncontrollably.

We all know that if you want to improve in the future then you must save money otherwise it is not possible. If you want to live a luxurious life then you can never save, if you want to control yourself then you must do everything in moderation. To survive you need money and you need things but you should buy only what you need and not more than that. When you spend a lot of things and money then you will not have enough money to save which will not support you in the future. Bad situations can come in people's lives at any time and it is important to have a fund of your own to deal with that situation. So if you want to improve yourself financially and plan to become rich in the future then it is important to control yourself and spend a small amount in everything which will put you in a good position in the future.

You have to invest, save and be cunning enough to make money.

At least the first two are important even if the third is kept on hold.
Investing in different asset classes based on how much risk you can handle and save money from buying useless stuff, shit subscriptions when there are free alternatives is what we should all aim for.

Beyond that anything to make money takes skills and it can be dangerous too, suited for a rare breed of people.

There is no easy way when you are earning small amount of money. Unless you are earning much, but if your resources is limited, you have to cut down your excessive and unnecessary spending that's just the only way out. You have to separate your wants from need, and restrict yourself to what you only need to survive. Just know that if you are spending exactly as you are earning, you are not making progress. It's either you look for a way to increase your finance or you only spend on things you only need to survive.

In the current economy, self-control reduces unnecessary expenses and helps in being frugal. However, self-control alone is not enough. We also need to increase our income opportunities. Freedom will not come by reducing expenses alone. If someone lives in a society where the prices of all daily necessities are constantly increasing. His salary is fixed. The cost of house rent, education, medical expenses are also out of control. In such a situation, not only reducing unnecessary expenses brings financial relief but also necessary expenses become stressful. Therefore, it is not possible to become rich by only on frugal . Along with this, we have to create a source of income. And we have to acquire financial knowledge about budgeting, investing, passive income and asset management.

Well, even though it's true that the more you earn, the more you spend, and it somehow feels like your expenses adjust themselves according to how much money you make, and I've experienced this a lot. When I was earning less, we were still doing just fine, everything necessity was easily covered, and at that time, I thought that now if I start making more money, I will easily be able to save because if we are able to adjust within this budget, a higher budget should allow me to have some savings, but no, when I started making more money, it seemed like the expenses have increased, maybe also because of inflation.

Anyway, I think it's not very easy for someone making less money to start saving or investing because you will barely be able to fulfill the basic needs of your household with a low income, and if someone is able to do that, they probably have very low expenses, and definitely have no one else to take care of, because I know that if I'm living alone, I will easily be able to save money no matter how low my income is, but with a family to take care of, not possible at all.

Because of it so many things has now taken a form of savings for some persons because whenever they receive money is good as exhausted and if they were even getting solve able things with it we could have use it as the reason but instead wasted, so they rely on other people to keep there money, an inevitable problem is what somebody should solve no matter how long it takes them to control it because they cannot live a depending live were as there poor self control will make them involve people on what they shouldn't have known about the person. Discipline creates focus and filter the minds because it doesn't give space for misleading and a rush into anything.

Truthfully,self-control is very important in today's kind of economy,where prices keeps rising and incomes doesn't align with expenses.Self control with spending and in your expenditures;self-control helps you manage what you already have,but in today’s economy require both discipline and proactive strategies.

Self-Control is always enough.

Almost all mistakes come from impulsive action or rash decisions in the heat of the moment. If you can find it within yourself to supress that kind of animalistic impulsiveness, then you are already quite safe from losing all your money because of panic or fomo.

Or you can buy expensive things that you do not need and then regret the loss of your money later. It is really up to you. But from my experience, expensive things are never worth it in the long run, no matter how tempting.

To achieve financial success, self-control alone isn't enough. You must be able to grow your money (invest it) in today's uncertain economic climate, where money is being eroded by inflation which increases the cost of living.

So to succeed in an uncertain economy, in addition to self control, you must also seek additional income and be able to invest. Furthermore, income must be greater than expenses (except for investment expenses). If you're having trouble increasing your income, try reducing your expenses. Reducing expenses tends to be easier, as it involves controlling your needs and desires.

I don't think savings is bad even if we have a sidle hustle. Savings is something which can be utilized in emergencies. We never know what's gonna happen and to have savings is like having a backup plan. Yes, saving all the money while living a poor life is foolishness as we do need to enjoy life but this does not mean we have to spend everything we earn and next month again rely on the financial sources.

There surely will be some rough months when the earnings will drastically reduce but still we have our needs, maybe we might have to support our family or anything such might come up. Without savings, we would be stuck in a situation like this. Savings for us will be holding bitcoins or staking few of the coins for long term which will not only generate profit but will also act as a backup plan. I personally prefer that instead of putting a portion of money in banks.

You won't get rich with a modest salary while basic needs continue to increase, especially if you can't control yourself, then your money will continue to run out, especially if you buy unnecessary items.

Now it's better to improve your skills so you can get a side job, thereby increasing your monthly income. At least you'll have something to set aside for investment, rather than saving money that will continue to lose value due to inflation.

The big problem now is that prices are rising while salaries remain stagnant.
Perhaps this is due to economic instability.

Self control is a key ingredient that is Needed for anyone who is thinking about financial success because for one to become financially stable in the absence of a stable income or source of income then such a person must be disciplined in the area of financial management, which is were self control comes in you must avoid unnecessary expenses.

Becoming financially stable depends on the ability of the person to have control over so many things and being aware of the state of things around you and how to work according to your financial resources gives you the access to financial stress. You must have self control and be disciplined before you can become financially stable when you are in control of your spending you will be able to work accordingly with what you have and you wll avoid things that will affect your finances and give you stress in your savings. Going for everything will affect you financially but when you have that discipline you will control yourself and mind how you spend.

If your idea of saving depends on the amount of salary you’re receiving or the high prices of goods and services due to inflation, believe me you will never actually save in the end. But if you chose to instill discipline in yourself and stick to your ultimate goal to come up with a good savings amount, no matter what amount you’re capable to save, as long as you do it consistently and regularly, you will definitely save and reach a significant amount after years of having self-discipline and self-motivation in order to save.

Price of goods will keep rising and salaries usually remain same, so the common people are at a loss unable to save money. In such times keeping alternative means of investment,  bitcoin being one of them is a good option. It would not be a silver bullet to every problem but it can help maybe today or tomorrow.

Then cutting down on unnecessary costs is a big thing to do often repeated but seldom performed.

It is important to not lose hope but continue the grind, after all there is no proper solution from our side for this.

Self control will make you not to make mistake you made in the past by saving funds without a good plan, saving funds and you know what to do with the funds to  establish some investments that will be adding income daily or weekly is a good decision that will make you to continue growing higher financially,  self control will not make you to start spending funds unnecessary on some things you don't like or need which is a waste of funds, and it can make investors to collapse his or her investment, those that have investment idea will not spend funds for what will not add value to their investment because they are standing because of that investment, which they will like to give the investment a maximum safe security to achieve their goal in the future.

While being prudent with your spending helps a great deal to minimize how and what you spend on, helping you to overall manage your income well, it alone won't help to grow your wealth enough. You'll get a bit better financially as you'll likely have some good savings stashed up in the bank. But all of that savings can easily be swallowed up by an emergency or two leaving you back to where you started.
Not to downplay the importance of savings cause we all know just how important that is as it can come through during financial dire situations.  But savings alone can not make one wealthy. It helps along the way,  it just can not get you there.

One thing I said to my self this year is that I'll save more than I spend, by budgeting for any income that comes in and goes out, be very mindful of the things you need. I don't buy what I don't need at the moment because it's fine. Life is a daily thing, get what you can only use immediately while saving for the future, that's the mentality I build this year in my life.  And it has been very helpful, have saved a lot of money and if I keep it up, I will use them to get more Bitcoin at the end of the year. Saving and prudent spending we get you to a place you desire without the seeking for help.  I eat well ,take care of the health and live a simple lifestyle. Having a quality friends will also help you to save more, not friends that will drain you down everyday.

I have come to noticed that those things that look more expensive easily fade away than those things we feel that is less expensive, I know of a guy that bought one single cloth that is Worth $150 and he only used this cloth for just once and the cloth got faded. And he start regretting that if he had known that he would have used the money to invest into something very important or better still use it to fill some emtpy spaces in the kitchen, you know some people don't think properly before making decision that is the reason why they always end up regretting after they must have execute thier plans.

Absolutely right, I think it is not possible to lead a good life just by reducing expenses because with time the price of our daily necessities is increasing and will increase further in the future because the value of money is gradually decreasing over time (inflation) due to which the price of goods is increasing. It is not possible to reduce our daily expenses much, we have to increase our income source, otherwise this situation can gradually become more dire. It is reasonable to invest some money in small amounts from the beginning of income with a long-term plan. From my point of view, investing in Bitcoin is reasonable because by investing in the long term, it is possible to protect yourself from inflation in the future. Therefore, by investing in small amounts regularly by following the right rules, profit can be expected in the future.

If you want to earn a lot, you should place yourself in a category where you can rotate your capital within a short period of time. Just make sure to carefully study
the investment scheme you choose to pursue.

One example is Bitcoin or cryptocurrency, where we must also be wise in selecting which crypto assets truly have the potential to bring good profit in the future.
I’ll repeat it be vigilant, because cryptocurrency or Bitcoin is volatile.

Self control may not be enough alone to apply with the way the economic dimensions are going, things are just happening the way they are not supposed to be, there are times we needed to develop our personal self in other to determine what we get from anything we are running after, self control in this regard could also be helpful by indicating to us on when to strike and not, at what and how we should aim at it, which is part of the reasons many run into business but couldn't afford to make their way in than to opt out unexpectedly.

And nobody gets to notice how much the cloth is worth except him and the few people he told about the price. Expensive clothes are not for people who would end up regreting the purchase, people should learn to cut their coats according to their size. Although not all expensive wears get to fade away, had he bought a nice wrist watch with that amount it'll serve him for a long time.

This is why I create debt, much stupider version of saving, but works. Because I get the money upfront, and use it on whatever investment or whatever, and then I pay the bank back, that way I am forced to save. And I get loans in size of I can pay without cashing out my investment, like directly from my salary. Latest was like 100 bucks per month, very small, but it paid for almost all my personal debt (wife still has some) and I have all my salary opened up.

Basically things are always much more expensive. Because you pay interest to bank instead of saving directly. Instead of saving 100 dollars myself like I should, I pay that to the bank, for 3 years, but I didn't get 3.6k dollars, I got less than 3k. That's why it's better to save yourself, but if you fail, this is an alternative.

We have to take more chances in order to make more money if we want to become wealthy. Because self-control won't work for us alone, it's a good idea to have different categories. Many people easily become wealthy in this way. People who receive monthly incomes, in particular, find it simpler to obtain what they want if they have multiple sources of income or increase their wealth. This is because they will divide their money into two categories and move part of it to their savings accounts. A lack of income is the reason why some people consider the pricing of goods as so expensive.

Self control is good, but it does not guarantee that you will become rich. Self control help you only purchase what you need and not what you want, which will definitely help you save money.
What really makes you rich is your investment. It's very good to save money, but I think.saving is better when you are planning on using your savings foe am investment. Your money in the bank does not yield much interest,  but your investment brings good profit, if it's well managed and that can make you rich.

Normally self control is the easiest way to overcome this bad economy. Because with the way things are going higher everyday by day without discipline yourself and limit from some unnecessary expenses you would just end up lavishing money anyhow. However, no matter how little you are earning weekly or monthly you need to spend wisely and use the rest for something that would bringing you back the ones you are spending in the near future. Because the economy has gotten in such a way that investment is the only way to achieve success.

I see self control has something we need to make sure we can withstand so avoid taking decisions that can hurt tomorrow. If you have money and you cannot save it, you will finally finish the money unless you invest it in a way that that will bring profits. People need to learn how to invest their money and not gamble with it or spend it on things that are not going to bring profits.
If you don't stick to the habit of keeping your money so you can invest it later, you might end up losing everything without noticing how you have spent all the money. The habit of saving can become very profitable in the future.

It's generally very difficult for a person to have money and still not spend it, especially when they want to buy something, etc. For this reason, there should actually be ways for people to save money in which they won't actually have direct access to their money for a certain amount of time so that they don't get intimidated and spend it. Something like a committee where a bunch of people put money together, and then they draw a name each month, the one whose name comes out in the draw keeps the funds for that particular month, those wishing to save can request that their names aren't added in the draws for the initial months.

One could also keep their money with someone that they trust completely, like their mother, because I believe there is no person on the face of the earth that a person can blindly believe other than their mother because she loves you unconditionally, and she would always take care of your money and give it back to you as it is whenever you ask for it.

For someone that is interested in saving money then you must learn how to discipline yourself and know your wants from your needs, in this current economy that everyone is trying to survive we need self control in other not to make decisions that would eventually affect our financial life and mess up everything. You don't just need self control alone you also need to back it up with discipline.

If you cannot hold yourself when the regular one is coming definitely you might not also hold yourself after getting the upfront money because is just the same thing as the normal one which you can use it the same way. Should we call this a strategy of make you save money or strategy of discipline? Because I'm surprised to see someone that's using this method so that they will make use of there salary. Actually this strategy is something that will not work for me because I cannot just be taken money upfront through borrowing just to secure and use my salary to pay off those debts, well you alone knows how effective is working for you.

Multiplying your means of income is another way which you can keep up with life. Self control or being a disciplined person is good because it helps you to restrain yourself from just buying or living life how it pleases you, and it also helps you to be on check.

But then, the thing is investing or if you want to save it should be something for long term and you know no matter what happens you won't you won't touch the money till the stipulated time.

Needs are always meant to be met, and that includes both families, and even friends as well there are times you even go out of your way to touch the ones you've saved, the rate at which prices of items are increasing is alarming and it just tells everyone to invest, and increase their means of income..

Self control is necessary for every person who want to be wealthy in the young age . People have time but they are not investing their money on useful things and that is the reason they are not rich . People want to spend their money on costly things which are showing the lifestyle of person. People are doing struggle for the things which are useless because they are doing job And best is that they should work on their goal which will make them financial free . People are doing hard work but that is not worth. Money is important in life because we have no worth without money and people should invest their most of the Money on best investments.OP made some different topic And he has no idea how to describe your point because he did not explain anything.

Self control is essential for achieving financial well being. However self control alone isn't enough there are many other factors we must manage to improve our financial management especially in today's uncertain economy.

Besides the cost of living is actually cheap it's your lifestyle that makes it expensive. Essentially when people feel undervalued, they will show off their existence to others. Therefore this requires not only self-control in spending but also in emotional self control.

If you lack financial knowledge you'll be trapped in a lifestyle especially in the digital age. With the many temptations of social media platforms like TikTok, YouTube, IG, FB, X, and others, and the ease of incurring debt, many people unknowingly make mistakes in managing their finances. This is why many people, even when their careers are thriving, their businesses are growing, and their income is increasing, find themselves with ever-increasing debt instead of increasing assets.

Self control is very important in order to be successful in life if you don't have self control in some financial spending you won't be able to succeed as a businessman, entrepreneur or investor, you need to have self control you don't need to buy everything you see or spend your money in everything you see.
The reason why I have been able to be consistent in my bitcoin investment is because of having self control in my financial spending there are some things I don't buy and there are some places I don't go and the reason is because I don't want to spend money on those things so one needs to have self control financially before he or she can succeed in any investment or business.

Yes, you are right self control is eseential for anyone who has an aim to financially stable. If we don't have self control our stable income can be mismanaged which will lead to financial instability. If someone has limited income and he don't have self control he will be destroyed. So self control is very importsnt for people who has limited income. Self control allow us to control our wishes and wants so that we prioritise our needs over wants. We shoudl develop strong habits like saving, mangaing and avoiding debt in order to have self control. It doesn't mean we shouldn't make pleasure or spend over our adventures but we have to spend with control taking everything in mind that this money can be helpful in a lot of ways in our business. Many people start from a smaller scale but their results are massive they own wealth with their consistency. All the factors that make someone a rich or successful are self control and management.

Money does not purely derive out of discipline and knowledge. It is the outcome of going through a cultural economy where individual identity is continually locked with patterns of spending. People do not just buy things. They purchase membership, identification, even self respect. That is why social media has such a grip: it is not just "temptation", it is an alternative system of value where assets are not houses and savings accounts, but attention and digital presence

The statement that, "Cost of living is cheap, lifestyle makes it expensive" is half truth. Maybe to somebody living in country areas whose basic needs are satisfied. However, city life proves the opposite: it is difficult to explain to a young employee in New York, Lagos, Jakarta, or London that the cost of living is not expensive. Inflation in essentials outran wage gains almost everywhere hence lifestyle inflation becomes the illusion of choice. Yes, you can afford to do without the Starbucks, but you cannot afford to do without the rent increase

The rational result of this imbalance is debt. It is not only because people are weak-willed. This is due to the fact that modern economies rely on consumption debt to continue onwards. This is why liabilities escalate more quickly than the income does; the system rewards spending more, and punishes saving by destroying currency value

It is not enough because even if you have the self control when your income is unstable, the economy will still hit you hardly. While it's one of the good reasons why people are successful today, adding it up with good financial knowledge makes someone even better.

I think that most of the cost of living has risen and that makes it expensive for most of the countries. While there are still areas and countries where cost of living is cheap but that also gives more spending power to those who are there which wants them to use more of their money to anything they wish to. And so, that's when self control gets in, to save that money instead of spending it to unimportant things.

This is a really hard thing to maintain and but not overdo and become a miser.

You need to control your spending, but you also have to spend money from time to time, even go crazy like once or twice a year.
Life is short, you want to be happy and buying things that you can have fun with is something that makes us happy, right?

I have self control because I can have $10k laying around in the drawer and not feel the need to spend it, but I also buy things when I feel like it. For instance, when bitcoin broke $100k I sold some and bought myself and my family a few things that we needed for a long time.

That is just the fact,  you can never become rich by just saving money. You need to invest an get profit that can probably make you rich. Because if you are saving and spending he won't increase expect you are topping it through your investment profit or business. Nothing can be easy if you need fast money you need to face many challenges before you get rich That is why many people prefer to be investing there funds then keeping it in the bank because he won't have any value and you will be losing when bank start charging for the maintenance. That is why knowledge is power when you are educated you will definitely know what to do and make you double your funds because is only investment make you get huge profit and make you balance and plan more higher, keeping money is nothing because is not bringing any interest.

I never think. Save money can anyone be rich. If you can properly use the money you earn and make a profit. Then one day you can own more money. Many people spend money in an unnecessary way, it should not usually be done by a person. They all buy goods considering the requirements. Most of the time I think, it is better to buy good things than buy bad things with less money. It makes it very strong and strong.  I never think it is unnecessarily spent. Whatever salary you get, it should be spent properly and learn to take risks with that money. Because if you do not risk, you will never be rich.

And this is absolutely the right behavior. There's no need to spend your entire life saving and hoarding cryptocurrencies in an attempt to multiply them through investments or casinos (or betting). We only live once. And so I always feel sorry for those who take saving to the extreme, skimping on their health. Our health is an investment that, in the long term, will become our most important asset in old age. Money should always come second to health and family happiness.

While it is true that self control is important (and not just young age, it's important at every age) sometimes it's not enough. Many have talked about this before, self control would give you a good base to invest, like you would save money and you can invest with it.

However, rest is even more important, you have to smartly use that money and if you only invest and not do something with it, then you are not going to get wealthy. No matter what you do, if you simply just buy bitcoin anytime you save money, you will retire to a good life, but you will RETIRE to a good life, meaning it will take time. If you want to be rich at young age, only way to do that is either get super lucky with some lottery odd thing, or you have to start a business.

Well I will say that self control is very important, because it's not how much you earn that determines how rich or wealthy a person is. Let me use a friend of mine as an example, if he wants to get something important he limits on how much he spends and saves up for that particular thing. It's not about him not having the money for it but it's just his aim is to get that particular thing he wants so badly.

However, someone can still not spend unnecessarily and yet end up not getting rich. Normally spending can be controlled but that does not stop someone from spending money, as it's part of life's daily activities

Yes, being self controlled is not the only way to get rich, but it is part of the many ways someone can become wealthy. If someone lacks self-control, it will be hard for that person to be disciplined. And when someone is not disciplined, it becomes difficult to get rich even if they have multiple sources of income or receive a huge salary.There are people whose parents were very wealthy, and they inherited that wealth after their parents passed away. But because they lacked self control and discipline, they became poor again.We can only build lasting wealth if we are disciplined, because that is the only way a person will avoid wasting money on unnecessary things and instead focus on creating opportunities for multiple sources of income which will be generating income.

As for those guys who are managing to survive or trying to meet thier target in life of course is very important to reduce your level of spending if you're this set of people that like spending in luxury or something that will become a liability to you, the moment you  figure out what you need to save yourself in some stress then you have to start limiting from those unnecessary spending you have been doing before so as to enable you achieve you target on time. because if you keep doing those spending at same time chasing your goal you may not be able to meet up on time, so to avoid delay we have to limit from those  unnecessary spending.

You are right, without risk, you cannot get rich; in this life, you have to take the risk to be able to achieve what you want, people who we see today as successful people take the risk and take advantage of the opportunity to achieve their goals; it is not written in anyone that we are going to get rich in the same way, however, we should try to take risk in different ways to know where we are destined to get rich, people who take risk are human like us and they did not have magic or two heads.

As a young person, you must remember that you will face many challenges in life, and you must face those challenges without fear. Saving our money in a bank account will not only help us to become rich because at the end we will only have the amount we saved, but by taking the risk and investing in bitcoin and being patient with the investment, we will achieve something we never imagined.

unfortunately in our life, we can't really have it easy

for some of us we really need to have not only one but two sometimes three jobs just to make ends meet. of course the ideal situation would be only to work one job and let it be enough for us to sustain ourselves and our family and have a little more
well this is why we can't invest yet when we are not earning enough because we will end up taking our money out from our investments whenever we are short

Some things are not necessarily a waste of money, and once you buy something you aren't buying it twice, we only have to make sure that those things are really needed, I just changed my laptop days back and I have been talking about how I am going to have to change the laptop because it is not working fine anymore, this went on for two years and finally I decided to purchase a new one, the reason why I have been postponing it was because I had to invest for a while.

My personal opinion is to allow balance in everything we do, because money really isn't everything, yes pursue money but don't let it rob you of your life and well being, make sure, if you need something even if it is for fun sake get it, tomorrow isn't promised, it is a form of happiness when we feel fulfilled even when death has come to take one away.

Many older people have regrets of not living their life as they want, instead they are busy chasing money and they lost love and affection in their lives, their abandoned their love ones thinking money solves all things.

If I tell you the context of my country, I cannot be limited in terms of spending money. When life becomes difficult due to inflation the desperate attempt to find alternative sources of income makes you more busy. In reality the attempt to be self controlled increases more the family expenses. You promise from the first day of the week that you will spend money in a limited manner, but in reality they cross the limit most of the time.

For financial freedom you have to increase your sources of income. Family is an integral part of our life we have to behave responsibly towards them and continue accumulating for the future otherwise negative times are waiting for you in old age. So do not just prioritize the present continue accumulating for the future.

Everything is tied down to how you plan and make targets for yourself because without target then you will just be living the life with so many error especially with sort of drastic and tight economy.  Living a life luxury will just make things difficult if you don't want to plan yourself because lavish lifestyle will just make you not meet up with your goals if you have actually set some for yourself.

You delayed purchase of the laptop since investment was more urgent. But then, after two years of delay, you realized that not acting was its own hidden cost: productivity loss, frustration, mental bandwidth wasted. Invisible tax is generally overlooked by economists. Humans feel it daily

The more significant problem is that our economic culture encourages deferral in the name of "discipline", and silently punishes the person who goes too far with it. This is why you are correct on balance. The pursuit of money becomes pathological not because money is bad, but because the calculation of trade-offs becomes distorted. It is not only that people have depreciated devices, but also depreciated lives

The last piece of data in this cycle is older generations who are regretting not living. It reveals the way greed about collecting things does not simply deprive you of happiness. It undermines the whole payoff of your very life. Why waste wealth trying to create a regrettable legacy? Delayed gratification is what the society rewards as maturity, yet the final equation proves most people defer until gratification is no longer possible

A person who is disciplined is going to see selfcontrol as an easy task to accomplish with how they live their life, not everything that got attracted to us should be accepted by us, because not everything that glitters are gold, we need to have a sense of recognition on things to do and those not to, because taking a wrong decision always comes with a price and this may be a costly one in some situations.

Self control isn't the only thing you need to be financially stable but it's undeniably one of the vital things you cannot do without...it's important to be able to subject yourself a lot of times..why do you think people that acquire a certain level of wealth become poor later on? It's because they lack discipline, when you allow money to control you there's no way you would think of saving and investing to make your future better

It's very correct that self control matters alot in every economy and I'm not going to argue with that because it's so crystal clear. For you to start your saving journey, you have to lock up that part of you that randomly craves to spend. Certain times, making you say no and hurt your heart just for you to please your soul. That's what it's all about because there isn't no way you want to get a particular amount saved by the end of the month and you are always picking money from your savings account to go get something else. You have to discipline your own self man or else, there's no savings for you. No future, hopes, no nothing.

You'll be surprised the day you go to break the savings, you've already finished everything before that day.

It all boils down to how much money you make and nothing else. Your plans, strategies, sacrifices, none of that really matter or would do anything if you are not making a handsome amount of money every month, because without money, you can't have a lavish lifestyle, you can't save money, you can't make an investment, you can literally do nothing in today's world without money. So, before we plan anything, before we decide what we want to invest in, what business we want to start, or what kind of a lifestyle we want to have, it's important for us to plan to earn more money as soon as possible, because once you achieve that, nothing else will seem difficult.

So many people that I know have been in my shoes, in the same position where I am today, but they made it in life by succeeding in either some business or got some very good job opportunity, and now they have money, and they are able to do almost anything that they want. Why? Because they have financial freedom. Remember, when you have financial freedom, you have freedom to do anything you want in the world, because money gives you power, money gives you wings. :)

Of course, self-control is important in economics. When you have self-control, you can control your budget, backup fund, spending limits, goals, and plan properly. Self-control is the foundation of economics, but to get sustainable results, you need to have a plan and alternatives along with self-control. It is good to reduce unnecessary expenses. But in reality, poor families are stuck not because they cut expenses, but because they have excess income.
So the momentum behind financial progress comes from increasing income. In reality, if someone wants to become rich, they have to make good use of their income sources, skills, investments, and time. Without these, no one will be safe or progressed just by reducing expenses.

Self-control is the most important chapter in a person's life, you should observe and think that if a person spends more than his income, then how can that person survive? In the current economic situation in the world, an expensive person will completely fail to fulfill his own needs and the needs of his family. However, there is no need to lose in this matter. You have to learn self-control and teach others self-control too, although I can control myself, but it is not economically possible for those who have small children to control themselves because they definitely have to spend money to fulfill their needs.
But yes, you have to control yourself first and then gradually teach your wife or family members to control yourself economically, then it will be possible to live a proper life.

Saving is best thing because you need to be a wealthy person of your area and you have to save more money if you want . There are thousands of people who are saving the money and they are Investing this money on useful things which could give them profit in future. If someone will not do investment on useful things then he will lose his economic status . Younger persons should start saving money and learning more things which will make them rich person of their area . In the 25 age , they will be rich and they will get high respect from people who have good status.Investment should be on online platform if you learned something about that and if you have no knowledge then I should be invested on someone else business.

Having the self-control to only buy what is necessary and not waste every penny is actually quite good. But that's only halfway to success. Because just having self-control is not enough. Because even if we become effective individuals in shopping and fulfilling life's needs, it won't make us rich if it's not accompanied by the ability to earn more money. I mean, we also need to have the ability to grow our wealth well. That can be done through business or investment. But building a business is a faster way to make more money. But the risks are also very high. And so is investing. So self-control is only halfway to success. And we need more than that to achieve great success.

Now I see how self-control has become incredibly weak across the globe. People are chasing the latest iPhones without even understanding why they want them. More accurately, they want iPhones to show off, but what's the point? Will anyone like them? We are loved for our inner qualities, not expensive accessories. We should work on ourselves first, not try to look better and prove to our neighbors that they're losers. But no one really cares. I meet my needs and am happy with what I have. I don't want the best, because the best is the enemy of the good.

I'll say self control is important which it comes to finances but also increasing the income sources and trying to fulfill ours or our family's needs without having self control will be much better. We only have one life and why to live under financial pressure to control our needs or luxuries. For needs, we don't actually need to have self control because that is necessity which is unavoidable but for luxuries, yes we need to have a bit self control and spend only how much we can afford.

People will be spending more than 50% of their salary on luxuries just to maintain a well-known reputation in the society but it is going to hurt us at the end when we don't have enough resources left to fulfill what we really want. We should know where exactly to spend and where to have self-control and avoid overspending.

Well you can limit the way you buy unnecessary items, that way you are keep money for more important stuffs. But instead of savings money it's better invest it in a stable or productive investment. Like bitcoin or gold are reliable for investment. But bitcoin is more affordable, you can start to invest money as low as $10. That way your money will add value over time even as bitcoin adds value

You will become what you believe so be careful what you think of yourself, savings is not the solution to this problem, I understand that you might not be from a rich home  unfortunately you need to work harder than those that are from a rich home, this is just the reality, be hard working in a more smarter way, learn new things that will bring in more money for you, if $500 for example isn't enough for you anymore it is not because you spend anyhow, all you need to do is find a way to make double of the $500 every month, it will never be instant though, you just have to put yourself to the test, in todays world content creation and web 3 is where the cash are flowing into, learn and believe in something.

Self control indeed help to save some but like what you mentioned OP with the prices right now it's tough to save a lot even how good you are in limiting your expenses, the other solutions might be having additional sources of income or try to invest with different knowledge that will allow you to explore to other potential venues where you can earn more.

Extra effort means a lot in terms of achieving whatever your desired financially, though not as easy at it is but with high hope and doing your dyor you may find the right way that will allow you to have a much comfortable future in terms of financial stability.

Social media is the root cause of the problems you describe. People imitate what they see in others and tend to buy things they see, even if they don't fit their needs. When this happens, they lose self-control. People need to exercise self-control and manage their spending.

Expensive accessories don't make a person better. If someone truly wants and needs an item, they should buy it. However, if they're looking to show off or buy something they don't need, this isn't the right approach. Certain behaviors need to be reevaluated, and this reassessment should lead to avoiding unnecessary behaviors.

Yea, you're right self control can help use save our money. But it can only go so far especially with the current cost of living. There may be so much difficulties in saving money for even most disciplined savers when the prices keep rising. If we want to save money and earn for our children, thinking about investment or additional income sources is a smart move. Nobody can be rich overnight but we have to create more earning opportunities for financial growth. You mentioned thsy putting extra effort make a huge difference. It doesn't matter which field is either freelancing, starting a small business or learn how to invest every step which we put matters. Doing our own research is very necessary as it avoid us from risks and taking wrong decisions. It takes time to earn.

I don’t think savings will make you rich due to inflation; the best thing now is investment because, honestly, you can’t save and be rich. While you are saving, what you are planning to buy is increasing in price, so are you going to? I think savings is not the option; rather, investment is. You should invest and make sure it’s in a good way that will fetch you money at the end of the day.Although you are right by saying self-control because that is the only way that will make you invest

There is no guarantee that you will become rich by just saving money, you have to invest that money in the right place and be patient, then you will be able to profit. You have to look at both sides of the coin, spend your income for the purpose but that expenditure has to be in the right place. Yes, you may have a hobby and you also need entertainment, you can spend money there. But here is a little thought, if you suffer financial loss due to the secondary nature of your hobby or entertainment, to put it bluntly, if you are addicted to gambling, then you will definitely suffer loss. No one can become rich by saving only, and you will never profit by spending recklessly, you have to invest in the right place.

People always want to be rich but they don't have enough patience. They have talent but they don't apply it because most of them are lazy and have fallen into financial difficulties due to inflation. Refraining from buying unnecessary things is a strategy to balance your expenses with your income. You should reduce the use of luxury items to fully adhere to your budget so that you can have some extra funds at the end of the week. Despite having maximum self control the surrounding financial system is responsible because most of the income you earn is eroded by inflation and leads to poverty.

Sending your money on whatever you need isn't the problem, the problem is how stable is your business, how productive are you. You need to make calculations to know if you should control your self on irrelevant spending or not. It all depends on your business capacity

There's actually nothing wrong with having some good savings saved up and kept aside. In my opinion, it's highly encouraged. Also, there's nothing wrong with having some productive investments as they've got the potential to increase your wealth overtime.
It's better to have some savings first before putting part of it into investments. Having some savings could help in case of emergencies. That way, you wouldn't have to sell up some of your bitcoin holdings or liquidate your assets in order to settle some major bills or emergencies that could pop up. It doesn't hurt to have some savings.

I guess yes, base on the fact that says " save more and spend less" rich people practice the habit of saving, sothat they will have enough fund readily available at any given time so as to take advantage of some emergency situation and not like the poor who think of spending at any given time wether it is important or not. It is often said too that the rich invest their money on assets to make wealth while the poor spend on liability.

Living by buying what is necessary to survive is not a way of life because no one can do it. No matter how little a person earns, that person will never be able to live by buying what is necessary to survive. Of course, to survive, he has to buy more than what is necessary to survive. As the world becomes more dynamic and the world is updated, the quality of life of people is improving. People now want to spend much more than they need and have to spend. Now, no matter how little they have, they cannot live with that mindset. Although they have self-control, they cannot maintain self-control in the case of their family and young children. They definitely have to spend beyond their self-control.

I agree with your points. In terms of accumulation, I think these are just the two key points: saving money for a purpose and spending it at the right time or on necessary items. Indeed, the richer or the wealthy ones always have good strategies and methods of multiplying their money, using it to purchase an asset that will later bring huge financial growth, not by spending it on unnecessary things. So the same thing goes for saving also; wealthy people create more ways of investing in so many things. A big example of it is Bitcoin investment, which we believe in for its potential financial growth and value appreciation.

However, it's high time the poor ones understand all these benefits, instead of spending unnecessarily, it's better to focus on financial growth as well as investments, seeking or acquiring more knowledge on financial planning and investing in items that will not depreciate in value. Moreover, spending on or investing in coins that depreciate or do not generate income is a waste of financial resources.

Additionally, when the poor ones or the less privileged are working with the people that have financial goals and are willing to embark on long-term financial success, it will be helpful, because they will always guides you, not those that have a mindset of spending unnecessarily without saving or investing.

If we don't manage the money we work hard for correctly, for sure, all our efforts will just go to waste. If we genuinely want to grow the income we've earned,
then we really need to use or put it into the right investments that we believe can help us roll it up (grow it) properly and quickly.

And since we are here in the crypto space, we must be smart in choosing the crypto assets we buy so that we can save correctly through DCA (Dollar-Cost Averaging).
Aside from Bitcoin that we will be accumulating, there are indeed other cryptocurrencies that can help us with future savings.

It seems that nowadays it is almost impossible to become rich just by saving because the value of money reduces for inflation. However, I think saving is not completely unnecessary. Saving is the basis of investment. Because if someone does not have money, then even if they get the opportunity to invest, it is not possible to use it because they do not have savings. So I think that first you need to stabilize yourself by saving some money and then invest that money wisely. Simply, I want to say that saving protects you and investment gives you the opportunity to increase that saved money.

Depends. I mean if you are making a minimum wage, in almost every single nation in the world, that is not enough. Minimum wage workers was created as an idea for some high school kid, not some grown up adult that has to take care of a family.

And there are people who are married and have just one minimum wage enter their household. Of course that is not enough, and of course they should earn more, but some people are not skilled labour, so what should they do, just starve? All jobs they apply, only the minimum wage ones accept them, which means they should not be able to survive? That is the problem with todays society, we tell people to earn more, and not tell the companies to pay more, if a person is not deserving more than minimum wage, then minimum wage should be higher.

To be successful in all area of life the principle of self-control must be adopted to avoid failure, most business men that are conscious for self-control ends up being successful in business while does that can not control there anger ends up losing all at the twinkle of an eye. So to avoid finding solution in deferent places self control needs to be introduced without much questioning of any kind.
All may not understand what it takes to have self control St any time

Yes you are making some point here, self discipline is a very important factor that is needed by all to succeed with, when you are disciplined you rarely get involved in things that can't add value to your life, you always want to utilize every single kobo that comes in and to make it a tool in fishing more money.

However, even in an investment that their is no self discipline you see your self finding it difficult to be successful because there are some things that are not important that ordinarily you would have over look but due to no discipline you start collecting funds from the investment that is yet to be successful and that's bad. Self discipline should be applicable not only in our daily businesses but to every area of our life.

To be honest, if you just sit around saving these days it loses its value as the value of money decreases. Saving is a habit okay but that's just for starters. The real game starts with investing. However even if you invest don't do it without understanding or being nervous. With knowledge and self control investing can truly provide future security. I myself think that in today's time the wisest thing to do is to use money instead of keeping it sitting idle.

Usually, almost all businesspeople won't spend their money carelessly unless it's for business or living expenses. Because all businesspeople are dedicated to growing their businesses and achieving financial freedom through the income they generate through their businesses. Therefore, factors like stability and productivity are certainly taken into consideration. Business owners can't spend money freely without prior consideration, so any expenditure is clearly carefully researched.

I read something here that said having self-control won't necessarily make us rich just by saving money for the future, and I completely agree with that.

That's because if we don't put our savings in the bank and just keep them hidden at home or in a vault, the money is just sitting there without earning any interest. As time passes,
the monetary amount we've saved doesn't increase in value, but the market price of our basic necessities goes up. Ultimately, the money we've saved in the vault creates
a deficit in our purchasing power.

While it is still great to save up an emergency fund at least, it means we need to use our self-control correctly and put our savings where they can grow.

We simply need to be able to anticipate events associated with major expenses, so I believe it's better to save money even when we don't consider it urgently necessary.
Sudden expenses are called sudden because they happen unexpectedly, and often many are unprepared for them and are forced to borrow from friends or acquaintances, or take out loans from banks that are difficult to repay.

a person with two jobs and a minimum wage does not know nothing about the potential of Bitcoin. They are not the people with the $500 they can afford to lose. The rich multiply money due to sufficient buffer to absorb volatility. You can invest in Bitcoin at 60% drawdown when you do not have it on rent. The poor are unable to engage in long-term games when their survival needs are short term

And this one about working with people who have financial objectives. Sure, social capital matters. However, even access to those networks is stratified by the classes. The man who is shelving goods at 11pm is not meeting with venture capitalist at brunch. If Bitcoin investment is such obvious wealth building why do the people touting it to "the poor" never mention the fact that early Bitcoin holders were primarily tech workers with some disposable income and some risk tolerance? A survivorship bias in the form of financial advice

Look, not everyone can think of investing, since there is risk in this, so not everyone likes it. Some believe only in saving and in a society, not everyone's thinking is the same, there are differences among them. In our society, a fair portion is employed or associated with other professions and the number of professional traders is also less. Also, there is a large population below the poverty line, now it is natural that no one among them thinks of investing, according to them, it is better to save. And the rest is about self-control, if you have self-control, you can take advantage of any field, it will increase your sense of discipline.

I also agree with this. Saving in fiat currency will only cause the value of our assets to continue to decline. Inflation is a real problem, and the value of the money we hold in fiat currency will continue to decrease as prices of goods and basic necessities rise due to inflation. Therefore, saving won't make someone rich. However, if someone builds a business and makes a lot of money from it, saves some of the proceeds, and reinvests some of it while continuing to expand, that can make someone rich.

However, achieving all of this requires good self-control, sound planning, and analysis. Self-discipline is paramount.

Self control will keep you afloat for a while but it won't be able to get you rich, if this happens I am quite certain it's a rare thing, it will at least keep you from going broke for the time being so if you are aiming at cutting down your expenses and then hoping to get rich from there, please think again, it doesn't work that way unless you are cutting down your expenses to invest with the surplus then that would be a different case but just saving up without investing it won't pull you out of poverty so if you are doing this then try and invest that cash and do that quickly before something else pushes you to spend all that you have already saved.

Yeah, being patience will help your to prepare yourself to whatever struggles that you'll need to embrace, there are so many obstacle in terms of saving and investing even how hard you deal with it, you'll still fnd yourself lacking with resources and most of the time it's really tough to control yourself, it's important that you have good judgement for the future decision that you need to take, even how good your knowledge if the opportunities is not yet opened, you need to extend that patience and keep learning the process, that kind of experience will established you and prepared your to become more discipline to whatever route you'll going to take.

Your life will never change or develop by applying such methods. Self-control and frugality are essential for managing finances, as all goods experience significant price increases. I believe this is the initial foundation for managing our finances without it, it's difficult to build stability. However, to truly change and develop our lives, we need to combine it with other strategies or skills that have a greater chance of earning additional income. This isn't just about surviving, but also about growing and developing our lives.

Self control will help you in alot of ways but on it's own it won't be enough to get you out of poverty, while limiting how your spend your money you also need to try to increase how much money comes in at the end of the day, it's not just about limiting how much money leaves but to increase how much money comes in, with working both of them at the same time, you financial status won't really change much, plus a lot of people do not exercise self control because they want to save money they do so because they can not afford to spend carelessly, one wrong move and you might not have anything to eat at the end of the day.

We know that it is very difficult to go from poor to rich, no one can earn enough money by working alone. Rather, he has a lot of needs in his daily life, almost all the money from his monthly salary is gone to meet them, but there is no money to save. However, we should not buy and avoid unnecessary things that we do not need and are not important. We should limit ourselves from the salary we get, spending a lot of money is not good at all. If we can control ourselves and manage our life well, then maybe there is a possibility of becoming rich at some point. However, it is very important that we should limit ourselves to the things that we need to survive.

Introducing self control in income and expense on daily basis is the first approach to financial stability and wealth building of any kind. Self control plays a vital role in all aspects of life, be it in business, gambling, trading, economics and politics, although some overlook it believing its not important without acknowledging its usefulness and role in career development and management.
One unique thing about life is the ability to make decision on ones future which in turn come to manifestation giving the result according to ones choice, so choosing self control over every other things pays off because of its importance at last.

I agree that most of us are forced to confront the severe reality that even by then working hard, we will not be rich because we see that most of our earnings are invested on the day to day living costs and therefore we have no time to save. Such a view draws emphasis on the fact that it is not the question of the size of income, but what we actually spend. The concept of reducing oneself the things that they will need in order to from survival is an extreme, but a rational step in this case.

We should appreciate the fact that the potential to restrain our urge to purchase things that we are not always got to be in need of is one of the assets that will define our financial future. When we continuously reduce our expenses and create a discrepancy between our salary and our fundamental requirements, we will not only get a chance to invest but also finally, change our situation on the economic front.

Everyone will have a different view of things in this aspect. Like for some people they don't believe in saving up and some actually believe so in savings. Some people don't like the idea of depriving themselves of not living life as they should just to save up they have the mindset of YOLO (you only live once) so they have to make every moment count. Sometimes saving up won't make you rich but It can elevate ones life to some extent. Living an extravagant lifestyle when you are not rich will only make things worse.

You can only be self control when you take a risk in life no risk no rewards for being self control without a risk you are just deceiving yourself in life nothing comes easy so as for the wise whom is ready to aim higher needs overcome the outcome of being astonished from taking a risk, either he or she will just  continue deceiving him or her self for a name as a self control and with that you can fool the world but you can't fool yourself,  rather you end up being liability instead of self control with a good achievement.


So as for a person or one who needs self control must act smart to overcome, and that is when you will  gain  more than you deserve as such called self control meanwhile remember no risk you can be self control.

Nobody ever becomes wealthy by saving money, instead, they become wealthy by taking huge risks, such as investing in more offline and online businesses. However, one thing to keep in mind is that if you don't make as much as your friends do, you shouldn't spend like them. If you do, try to be more economical and only buy necessities rather than unnecessary things not just because your friends are buying them. Join a group of friends who have a positive outlook on life rather than those who will tell you to go out with different types of girls or who will take you to clubs all day and night. If you come across people who aren't talking about business or anything positive in your life, break up with them.

In challenging economic conditions like today, self-control is crucial, although sometimes it's not always enough. Living comfortably requires more than just saving. The problem is, many people are already cautious about spending money, but still aren't making progress. The cost of living is rising, and salary aren't always promising. In situations like this, self-control is sometimes just for survival, not advancement. We're required to do more than just reduce expenses to increase our income. This can start with increasing our income, no matter how small, by working a side hustle or starting a business.

It can be confusing, but strategic thinking is essential, not just saving. Self-control is fundamental, but in the current economic climate, we also need creativity, the courage to seek opportunities, and the ability to adapt to do more than just survive.

There is no chance of becoming rich through self-control alone in the present times. If a person cannot increase his income, then he will never be able to become rich through self-control. The rate of inflation will gradually increase, and the opportunity for those who earn little to save money will decrease. In order to become rich, a person must increase his savings, otherwise it is not possible to profit from his investment. If a person's maximum income is low, he can live on that income by reducing his expenses a little, but he will not be able to invest the amount of money needed to become rich with that income.

‎I think I see self control as something people most time notice when they lack it..  In fact people act freely with their money until they start facing problems, that will now make them realize how much it matters..  It is not only about saving or cutting expenses but also knowing when to spend and when to wait... 
Since life is more of your own choices discipline can only shapes the outcome..  The funny thing is most of us already know this but still ignore to it until it affects us...  Self control does not look exciting, but it decides who stays stable and who struggles later…

Self control is good, but what’s self control without a good cash flow management? These are actually two different important concepts that kinda goes hand in hand to enforce a more effective result.

It really doesn’t matter how much one earns or how big the size of your income is, if there’s no effective cash flow management, it doesn’t matter whether you have self control or you restrict yourself from buying or spending on irrelevance, you might still pretty much have a messed up finance.

Self control will help you save money when avoiding unnecessary expenses. If you're Rich, activating self control will limit your daily spendings/expenses but if you're not rich, activating self control won't cause you to become rich overnight. To have self control requires discipline and determination to make better choices and decisions without being Emotionally troubled. Having the will-Power to avoid lavish spendings on unnecessary products & service doesn't only save us money but enable us resist temptations.

The first important role in life is to play something that many people do not do and many people do not do it even when they do it and some people do it for their good life and future peace. This is not for rich people, it is for middle class people who think that they will face difficulties in their future life, due to which they save their income. This is absolutely true, it is not for getting rich, one becomes rich only when there is extra money in business, which we can become rich only after accumulating. One thing is that this person gets worried when his expenses increase, he gets bored, then when the situation becomes normal, life improves. We should control it gradually, only then we will get used to it, besides, we keep getting worried and angry, which spoils the atmosphere of our home.

Self control is very much valid and essential in this economy because prices are rising, jobs are changing,and money is tighter for many people.Therefore,without self-control,it’s easy to overspend,chase trends,or fall into reckless and innumerable debts.With self-control,you can budget wisely, save consistently,and invest smartly.

Nah bro we need to make enough money that at the end of the day when we spend it on our necessities, we would be left with some money haha if we are left with no money, we can't spend it on unnecessary things, but if we have enough and we can spend on unnecessary things, then we must save them.

And yep we have to control ourselves if we want to save more, if we won't, then we will be buying a new device every years, that we don't need, we would be upgrading things that we don't need, we would like to test everything while we are not making money out of it like people make by doing their reviews. Those who are not digitally earning money they in my opinion, are suffering more.

People can also become wealthy by saving as they can just put aside a huge chunk of money which they already have in excess and start spending the profits. This will not make them loose their money but they will just be spending their profits which keeps them wealthy always.

But yes, for someone who does not access to a lot of funds, risk is the only option to be wealthy. Risk can entirely change our life as sometimes it can make us earn a good fortune but most of the times things might go sideways and we might end up losing everything we have. Even while taking risk, we have to be very cautious as not every risky path is going to lead to a better future. In fact, some risky paths are really very dangerous and not only ours but our family's financial life can be on stake.

You have a point. For folks who haven't got access to lots of funds can mostly change their financial situation by taking some risks. Risks here are primarily investments opportunities. Having just enough to take care of your immediate needs, putting away some money to save up for an investment is quite risky. Depending on the investment, you'll either get some profits on your investment in the long run or not at all.
Self control does go a long way for someone with a low to average income in keeping small amounts of money aside in savings.

We can limit ourselves from spending too much but for how long you're going to endure that. The food that you want to eat but you can't because you're saving. I think that it's important that we have to budget things but don't limit yourself if it's about the food and the other needs that we have to spend our money. Here in our country, before $20 is a such a big amount of money. But once you spent it and it becomes change, in less than a day you'll spend them all and it's all gone and that's because everything here became so expensive. And so, it's not enough to just have a self control and budget our money but also to have additional income.

Current economic conditions are still changing, and everyone has seen and felt their effects. Therefore, if someone is still wasteful and doesn't realize the difficulty of earning money in the current climate, they will clearly experience difficulties in the near future. Everyone needs to have a better level of self-control in all aspects that are considered important, including spending money, following trends, and other aspects of their lives. Furthermore, this increasingly crucial economic condition is due to the diminishing need for human labor, which can be replaced by sophisticated machines and robotic systems.

It is good to take always take risks in life but let those risks you are about to take be measurable. Let it be something you can afford because these days I realize people take uncalculated risks without thinking properly about the outcome. But it is not a good practice to embark on a journey you don't know when it is not by force or you were outsmarted.

It's purely a personal decision to invest in bitcoin or not since you were not compelled to do so at a gun point. I just finished reading the story of a man who took his life because of a failed investment and it was not a good experience at all so for us to avoid things like that from happening to us we must learn to take calculated risks and be smart with our investments.

We can limit ourselves to things we don't consider essential, but essential needs must be met regardless, especially if they are closely related to health. For example, when it comes to the food we consume, I believe we shouldn't be stingy with healthy foods, even if they are expensive. In fact, if we consider it, healthy food isn't actually that expensive compared to fast food, which is less healthy.

We must be able to distinguish between what is essential and what isn't; that's the bottom line. It's also okay to spend a little more than usual on entertainment as a token of appreciation for our hard work.

We shouldn't save before meeting our basic needs. Saving is something we should do with the money left over after meeting our basic needs. If we can't effectively meet our basic needs, there's no point in saving. People save for themselves, but if they can't effectively meet their basic needs, there's no point in saving. Above all, you should take care of yourself so that by saving, you can benefit yourself and those around you.

It's important to distinguish between basic needs and savings to avoid unnecessary spending. The key here is to take care of yourself and then invest or save.

Every action that we take in life always carries some degree of risk, so how people handle those risks determines whether they succeed or fail. Not every loss indicates that we made a poor choice, and not every opportunity warrants a hasty decision. For example, people's emotions frequently lead them to take unwarranted risks in the cryptocurrency space. Every action should have a purpose and a plan, so knowing what you are getting into helps you remain resilient even when things don't work out.

Of course is very obvious that all actions is been taken for a reason, there's no way you will take action without having a reason for doing that, even though some folks may want to take decision without having a good reason but is assume that they did all of that for a reason best known to them.

I agree with you when you said that for the fact that our choice didn't work as expected does not mean that we have make the poor choice, and yes trials leads to success or failure so if we try and it doesn't work out for us means that we have to cheer up and try again the next day. We shouldn't see it as the end of the world but to keep trying until we get it.

Good mindset may bring better results, unlike with those who will aggressively push forward without reassessing what's they've done wrong, your decision is very crucial better to add some more patience with what you need to do after, success isn't just by luck but more from your hardwork.

Having the right knowledge in setting up your goals may adds up some decent chances of gaining success, keep learning by studying each situation that you may encounter along the way.

That is actually opposite from what the financial gurus that I've watched say. They say that take out what you are about to save and then use the remaining for expenses and basic needs.

I think that they can easily say that because they've got enough. But for an average person that lives from day to day and had just enough have to spend first for all the needs than saving.

But I think if someone is eager to save even 1% or even 0.5% of the remaining from the actual budget, it will be good. Though it's understandable why many providers don't have anything left to save because they're responsible.

Great idea, you have asked a very realistic question, salary usually guarantees us a fixed income, there is no possibility of getting more from here and to earn extra money, besides salary, we have to take risks by acquiring various skills such as online freelancing, small entrepreneurship, etc. Apart from that, we can invest in the stock market or buy some bitcoins and keep them.

At the first place yes, because if you know what are your limit when it comes to expenses for sure you have the chance to at least save a money and create an investment, previously im following the 60/20/20 concept of saving, investment and needs. For the 60 percent these are the needs and necessary, for the 20 percent these are for the investments and 20 percent for the wants, yes still a have a for the wants because i dont want to get burden my self because of this life, still enjoying is the best to deal with.

Ftfy.  :D

The first is that we must meet our basic needs. Logically, if we can't even meet our basic needs, then we can't save. Some people might force themselves to save even though their basic needs aren't met, but I think that's selfish, especially if they already have a small family.

This is fundamentally important. Once we understand the basics, we'll be able to address the bigger issues. Now, many offer ways to manage this, from social media, influencers, and so on. So, it should be easy to figure out what we should do.

This is related to productivity because without self control and discipline, I'm a slave to my impulsions which could be as small as just peeking into a YouTube video or music while doing some work.
You can improve your self-control by meditation. You can also take a shower or go for a walk outside and try to distract your mind.

Obviously, it's a personal decision to invest in bitcoin. If you're unsure of putting in some of your money into an investment, then no one should pressure you into doing any of that. With investments, you need to make up your mind to go all in knowing exactly just what you're getting into.
I too have read about a trader who took his life cause of a bad dip in his portfolio. I don't think he took his life cause someone else cajoled him into making some investments he shouldn't have.

Self control is really a big deal in the human life right now.it's not that easy to have selfcontrol it take the grace of God and discipline to have it.but life is full of habits both good and bad,the only way you can over come some certain things in life is what you make an habit.if having discipline of this you do,it now gives you self control over anything you feel is not what spending time on.

Nowadays, it is not possible to become rich just by saving. Nowadays, we can meet our needs well from the money we earn, but many people cannot save or invest money because the amount of expenditure is high as income. In this case, we need to find alternative ways of income, at the same time we need to increase our skills and exercise self-control. Self-control allows us to prevent wasting money quickly by spending on unnecessary things. And we can reduce our expenses and save and invest to create future wealth.

Developing self-control offers many advantages. Self-control creates a warning system for individuals. All of this makes it easier to make more rational decisions. The factors that determine many of the actions we take today vary from person to person, but it is important to choose the most beneficial ones. The ability to choose what works for us can lead to success in many actions. This requires personal development.

Getting rich by saving is very difficult and often impossible. What matters is how you use the money you save.

Being unable to control your finances is not really that tough to imagine. We teach kids about history, math, science, languages, geography, and many more, but not a single class about economics. No kid is growing up about learning the finance world. Nobody is telling you to teach 15 year olds about quantitative easing, but not a single class?

I mean if you could at least show them how simple it is to have so much money by simply investing a small amount every single year on something even a low return, for a long period of time, the exponential increase makes you richer. They do not get it, they do not understand the value of compound interest, they see 10 year return, and think it's so small, without realizing 20 year makes it huge, and 30 year makes you wealthy.

In this situation, building wealth in the future will take time and consistency, but right now, the most important thing is to safely escape the pressure of excessive spending and ensure that we have enough to cover our expenses and avoid going into debt month after month when we're with ourselves or our families.

I agree that the most important thing to maintain is self-control, preventing rapid waste by spending it on unnecessary things. To cover other urgent needs, we should find other work, perhaps a side hustle that will provide us with additional income each month or for specific months. And don't forget that each has its own risks.

You may be saving fiat for the future but due to inflation, the value of your country's fiat is getting devalued. The amount of money you are saving in the bank is gradually decreasing due to inflation. You need to take alternative measures for financial security so that your source of income increases. After spending the amount you earn for your family, invest the remaining money in some promising place. Self control is more important to reduce spending because most people live an uncontrolled life and waste money. If you can understand the importance of money during your earning period and get used to living with patience, then you can be financially stable during your retirement.

It is quite possible to achieve it in the future if someone is able to control themselves and I see the main problem for many people today is self-control in controlling their finances so they make many mistakes and are unable to invest in the future, what actually has to be done is a lot of sacrifices to be able to achieve financial freedom in the future and that is something that is very difficult to endure, especially with big desires in life.

See, just  only to save money or saving money to become rich cannot make a person rich. To become rich you need to develop your education and skills and apply them in the right field at the right time. If you have a strong tendency to save or hoard money, create a plan for it and find an area where you can invest your savings. One thing to keep in mind is that there is no alternative to investing in the right fields to become rich in this world. You should also refrain from unnecessary expenses.

What is worth mentioning is that those who are included in this forum are, in my opinion, very fortunate. Many knowledgeable people, including the moderators show us many important investment platforms or investment areas for achieving financial success in life.

Self-control is indeed important in many things, including finances. Currently, many people tend to experience financial problems, but even so, there are also people who have sufficient income and can manage it well so that no problems occur and this is because they can control themselves well enough, in contrast to people who sometimes only have short-sighted thoughts. Sometimes they have income but it always leads to shortages. This happens sometimes because they are not good at managing their finances, such as buying something that is actually not so important to them. But with those with a long-term mindset, they can think about their future, manage their finances well and perhaps make investments.

Over the long term, it's true that a lot will be spent on maintenance fees, withdrawal fees, and ATM fees. However, there's a good solution if you want to save at a bank and avoid various fees: open an account, simply hold a bank book, and make manual withdrawals without using all their services. Banks aren't free if the service is activated by the user. This way, only the book fee is charged, and everyone else is safe.

We can apply this pattern equally, but social classifications and classes vary; some have a steady income, others just enough to survive. In this case, the only solution to avoid reckless spending is to compartmentalize your expenses. This means always prioritizing important and urgent expenses first, followed by fixed expenses. If you have enough, set aside any excess for social funds. Once you feel you have enough, set it aside for a ready-to-use fund, meaning a special savings account. I think that's another tip that might be useful for achieving financial stability today, tomorrow, and in the future, whenever we choose to implement it.

Inflation quietly eats away at the value of savings and many people don’t realize it until years later the same amount of money that once felt secure slowly loses its strength when prices rise that’s why simply storing cash in banks is not enough anymore it keeps your money safe but not growing financial security today means finding a balance between saving and investing between protecting and multiplying what you earn.

You’re right that self control is the real foundation of wealth most people don’t fail because they earn too little but because they spend without order discipline in spending creates room for investment and that’s where growth begins if you can manage your lifestyle during your earning years and learn to live below your means you’ll build the habits that carry you safely into retirement wealth starts with mindset not just income. For those who prefer banks avoiding unnecessary service fees helps protect what you save simple accounts without constant digital use can reduce maintenance costs but real financial stability comes from learning how to direct your income wisely compartmentalizing expenses is one of the best strategies it forces you to look at money through priority lenses first cover essentials then fixed costs next allocate something for emergencies and only after that think about saving or investing.

Inflation is in the rise and so needs and demands ain't really met in most cases and the only means of surviving in the economy degradation is through generally planning, saving as usual and having self control. It isn't the period to spend on unnecessary things that doesn't matter, so self control will do justice to limiting oneself from that and prioritize good savings and planning goals.

OP had really depressing post about salary not being enough to get rich despite his restraints on spending. If he got to the point where there is no more room for him to save money , my only advice is to look for opportunities to earn more money. This could be finding another job with better pay, or finding opportunities for another income. Investing in skills he's talented in would probably open opportunities for better job.

Although self-control is difficult in this economy, one should have self-control. My family can live normally with the salary I work on, now I cannot live a luxurious life with my family because with the salary I earn, I can manage myself, my wife, children and family. Moreover, the situation in the country is not normal, and the price of everything is increasing, so I always have to be in a state of tension. However, considering the country, if we hope to do something in life, we must refrain from buying unnecessary things. If we refrain from buying unnecessary things, we will definitely be able to save something. We should buy what is necessary depending on the current situation. We cannot become rich just because of lack of salary, if we can control ourselves and refrain from buying unnecessary things, then we can definitely accumulate some savings to make ourselves rich.

Self-control is absolutely essential for every individual. Without better self-control for better things, a person will never achieve anything in life, and even if they do, it will certainly not be what they desire. Therefore, in terms of self-control, I believe it must be even greater in the financial sector and also in daily spending. For other things, such as worship and helping others, I don't think self-control is necessary as long as they are running smoothly and don't cause unrest to others.

We can also start saving a lot by learning to repair things or appliances and take care of our clothes. I know people who are so good at taking care of their clothes that they use them for decades, while others buy clothes literally every new season because they become unfashionable or tear. We need to be able to choose based on quality; this will ultimately lead to significant savings, because everyone knows that clothing is expensive these days, but not all of it is durable enough to last for years.

High prices reflect quality. Another example is when building a new house, for example, for the finishing touches of paint. Initially, we might think about saving money by using inexpensive paint. However, after consulting with the paint store owner, they suggest buying top-quality paint, even though it's expensive, we'll benefit economically.

If your house is painted with high-quality paint that meets ICI standards, it will last approximately 10 years without any refurbishment, whether for indoor or outdoor use. If you paint a regular house after three years, it will need refurbishing and will quickly become dull and weathered due to heat and rain. This is something that needs to be considered, just as you mentioned above, if I were smart about the direction.

Money tends to lose value faster during inflations, which is why it’s crucial to be intentional about one’s spending habit and also focus on relevances. One way to do this could be making a clear distinction between your needs and your wants, by doing so, you’ll be able to know what’s really worth spending on and things that can actually wait. Discipline is also very much required too, as it is not just enough know what to do, it is one thing to know and it’s another to have the discipline to stick to it.

High prices doesn't always mean higher quality. For example some brand-name shoes have same or even less quality than non brand-name ones. You did good job by consulting with with paint store owner, who was honest about paint quality. There are also a lot of dishonest salesmen who will sell more expensive product with sub-standard quality to make more profit.

Yeah, if you intend on just saving money in order to be financially independent, then you're going about it the wrong way. You will not get financially independent or rich just by having some good savings in the bank and like you rightly noted, there is no alternative to having a good and feasible investment plan. Now that will overtime, bring in some good returns that could increase your wealth exponentially.
With the increasing rate of inflation, savings alone will get you no where as the value of your fiat currency, just sitting in the bank will slowly lose its purchasing power due to the constant rise in goods and services.
Having some savings is very important and needed. It alone just can't help you achieve wealth.

You're right. Even though it's important for everyone to have savings, savings alone can't make someone create wealth or achieve financial freedom, unless they are making so much money that their savings can also be too much, but that is barely the case with everyone. So, people who have an average income, out of which they barely get to save 10% or something, will barely be able to save enough money to even be able to buy a house within a few years, it will take about a decade or something for someone to do something for themselves through savings, and that proves that we can't create wealth through savings.

The other scenario that I mentioned is when someone has a very high-paying job, and has very low expenses compared to what they earn every month. In that case, if the person spends 20% or something and saves 80% of their income, then maybe within a few years they will have good enough funds, but still, to make wealth, they will need to utilize that money in creating investments and businesses because if you simply eat your savings, you won't have anything left within a few years.

It's another way to value money and with that we will be able to save some, it's more on how you dedicate you are in finding ways of saving, just like you mentioned there are people who can keep their things useful for longer time, and yes, those appliances that still usable and just need a repair instead of replacement, those small things can save you and if you have good practices you can save more and use those money to other important things that you need to spend or be kept as part of your savings.

People tend to want new things even if their old ones are still usable, even if they need a little repair. This isn't a big deal, as it's a normal experience for everyone. However, we must first assess our situation to see if buying new items will alleviate our financial woes. Instead of experiencing new joy, we'll actually experience stress if we force ourselves to buy something when our finances are tight.

We must learn to value money, especially when it's scarce. We shouldn't just live for today, we must also prepare for the future.

Sometimes, when I go to the store, I'm tempted to buy really expensive groceries and treat myself to a delicious evening. But then I realize that would be a very expensive meal, and I can make the same meal myself for much less using other ingredients.
And these moments of self-restraint have a very positive effect on saving the family budget, because if you buy expensive products every day, then ultimately it will be a very large sum per month.

I agree with one of our colleagues that saving money alone won't be enough basis for us to become wealthy, because a person's wealth depends on various business resources.

As the saying goes, right, saving money or savings is good only for emergency funds. But if we use our savings on investment opportunities that can grow,
as long as we're implementing the right investment scheme, it's really fine.

This doesn't mean holding back all your needs and desires; I think that would be overkill.
Self-control means holding back something before you can finally make it happen. For example, as the OP said, managing your finances with a small salary is very difficult. Therefore, it's important for us to exercise self-control to maintain financial stability. However, we also have to work harder to earn more money because our needs and desires must be met.

A person's self-control will be effective only when that person has the ability to judge good and bad, need and non-need. Self-control is very important for a person's beautiful lifestyle. There are many people who are easily influenced by emotions, as a result of which they are forced to make wrong decisions. There are also many who become addicted to a little thing, in which case they have to face various kinds of procrastination, but when a person has the ability to control himself, he will be able to come back from the wrong path and improve in life. Above all, self-control is very important to have a good life and a prosperous future.

I agree with you, when we set a specific goal, we need self-control to keep ourselves stable until we achieve that goal. We need to control emotions, manage finances, and maintain self-control. In fact, it is very difficult to hold an investment for a long time, which seems easy to see, but there are many challenges to face here. And self-control is needed to overcome all these challenges and keep the investment intact.

Even outside of our goals, self-control is important. We live with all sorts of things that we experience, and without self-control, even trivial things we don't like can make us emotional. This is where self-control comes into play. There are times when we have to control our emotions, even when we shouldn't be emotional about trivial things. But without self-control, even trivial things that shouldn't be exaggerated can become problems because we become emotional and exaggerate them. This often happens in our own environment, I'm quite sure.
Especially with things that involve money or profit, self-control is certainly important. Like one example of investing that you mentioned.

Indeed, there's always an option and if we value of money we can still do repairs or we can save old things and make it usable in a much longer time frame, so instead of spending money in buying new things just be contented with what you have will save you decently, as long as it's still usable there's no need to replace for just a luxurious lifestyle, most of the time those who are just having a simple life are those who enjoy it right and they are not pressured to show up what's people wanted to see from them,.

Youre right, in today's economy self-control Is not enough to build wealth or even save real money, we know that price in the market or goods keep rising why people's salary remain the same, even when we cut most of the spending, the cost of our basic needs will still take up most of our income and sometimes our salary will not be enough.
‎ but self control is very important, it helps us to avoid some wasteful habits and teaches us how to be smart and discipline there is only one way out which is, To be  able to improve financially and we also need more opportunity to earn  more money, invest wisely and develop skills that will generate more money over time.
‎I think someone should first be balance,  which simply means to live modestly and control your daily spending, looking for a way to grow financially which can be learning new skills, starting small hustle and investing more on Bitcoin that will  generate more mone, because in this life saving alone won't make someone rich you need both to grow and control.

In a country where the economy is very bad, it doesn't matter how much you end up saving, inflation will continue to eat up your savings and sooner or later they will have little or no value. Most things you feel are not necessary to buy may actually be the things that you need to survive in this life.  Don't be the kind of person that would be stingy to himself because if one kicks the bucket, your money will be spent by your next of kin who barely understood what you've been through to save up. Just be free with your savings and do what matters. Earn and save a little, spend money on your self because you earned it. We only have one life to live

Truth, many people focus so much on saving that they forget to actually live. There is nothing wrong with being careful with money, but denying yourself basic comfort and happiness does not make much sense. Life is short, and while saving is wise, enjoying the fruits of your hard work is very very important. At the end of the day, balance is actually what matters most, and saving responsibly, but don’t let fear of the future stop you from living meaningfully today.

You actually say it all because if self control is not there I don't think any investment will Survive. Every human being that know what he or she is doing have to set a goal for himself or herself, because sometimes you will have a plan but if eventually you didn't stick to that plan you will find it difficult to get a result. In man's life the most important thing is to have self control because if it is not there our aims will not be achieved. I personally find it very difficult to control myself but I always try my possible best to maintain it which is healing a lot of results positive ones for that matter, but mind you there are a lot of challenges but you have to overcome them if really you want to get to the place you are aiming.

A person self control will be effective only when that person has the ability to decide what is good and bad, what is necessary and what is not. I would like to add one more thing to this, that this happens because of the mental abilities of a person. If a person knows the difference between good and bad by keeping his mind present and attentive. when a person controls his emotions and stays away from all kinds of evil and makes decisions that are best for him and this attracts him to goodness which becomes the basis of his success. The human mind is made up of two types of abilities If we directs his abilities towards something good, we will find the best in his life and the second stitch is the one in which he is subjected to some negativity forced to make wrong decisions. like those people who become addicted to some dirty things which is not good for him for his future.The best obstacle becomes the boss. a person uses his mind by using some good habits in his mind will be able to expand his mind for many good things.

Self control is supposed to be used for people like us going through uncertainty so we won't get crazy and lose our sanity because of the state of the economy, as simple as that.
Self control is not a tool which could be used to become rich, one needs more than self-control in order to improve ones situation, that is obvious.

Also, there are several ways to live and each person on this planet has a different perspective on what life is supposed to be about, there are people who are in very dire situation and still they manage to be happy with the little they have and with less money than any one of us have to our name.
It does not mean we are supposed to settle for little, we need to appreciate things we have while also seeking to get better.

Just my two Satoshis on this matter.

Your self control in such situation is sacrifice, how long will someone want to stay in a job that is not paying well, why i said your self control should be sacrifice is because you have to sacrifice your money and time for finacial freedom, find a way to go out of depending on someone to earn salary or you can simply find another job with higher salary. If your not qualified enough sacrifice to further your education to get you qualified, or you sacrifice to start a bussiness or to learn a digital skill, you can choose to stay like that with your job just saving money or you can choose to sacrifice something to get something better the choice is yours.

This means that self-control is only for a moment, while we have to try harder to get out of that sacrifice, I think that is true but it comes back to oneself to what extent a person will be able to sacrifice himself and get out of it, sometimes there are also people who are comfortable with that sacrifice and say that it is only a limitation or deficiency without any hard effort to get out of it.