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Isn't it stressful when we spend more than expected, right? especially if we follow a budget, having a smart spending habit is a good way to avoid such situations or events.

1. Make a realistic budget
           In budgeting it is important that we consider everything. It should be realistic and achievable, It cannot be said that the budget is only 20$ for a week for food if you are 8 people who will eat at home. Plan what to eat every day and budget for it. Write down all the ingredients or how much to buy and how much it will cost in pmashae or gasoline if there is a car. Do everything with consideration and do it consistently.
Stop yourself from buying things you don't need, like buying coffee at starbucks when you can just buy 3 in 1 sachet coffee that just tastes like coffee. Because if we cannot prevent such expenses, include them in the budget.

2. Find out what triggers the cost
            It's important that we know this if it's stress, boredom, pressure from friends, need to follow the trend and so on. It is important that we have discipline in these things if you want to avoid overspending. For example, if you're bored, you hang out online shopping at Lazada, Amazon, and others, this habit should be replaced with something more productive, such as cleaning the house and others where you can avoid it and do something good.

3. Break down luxury expenses
             Try to list the things you have spent and separate the luxury and the things you have spent. It is important that you know what is really needed and the word I deserve it.

4. Make the 24 hour rule
             This rule helped me when I was building in this way. Because when I want to buy something, I put it off for 24 hours, and during this time I learn how to assess these things. Usually the excitement we experience disappears immediately after a few hours. You imagine the sacrifices you will make when you accomplish them. Like the small savings you have or sometimes we will even borrow the money we will use here. At least in this way we can avoid impulsive buying or bursts of emotion.

5. Set a budget
            Allocate a limit on expenses, know all areas of expenses from food, rent, electricity, water, shopping and other things related to spending. Once you set all of your spending limits, make sure to follow them and do it because everything will be ignored if you don't do it.

I hope this somehow helped us and the community here on the forum.

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Other source:
https://www.incharge.org/financial-literacy/budgeting-saving/how-to-cut-your-expenses/
https://www.mymoneycoach.ca/blog/how-to-stop-spending-money-7-tips.html

It is really annoying to fall short of funds when allocating the budget to our needs.  This list are helpful in guiding one on how to keep our expenses on tab and avoid the frustration of falling short of funds even though we always try to look for extra funds to fill our needs.

Setting the budget and knowing the reason why we always have shortage is a good way to troubleshoot our financing activitives.

I think it's easy to say that you are going to save and follow a budget but pushing through something that would make you benefit in the long run. I believe that it's going to be the part where you need to know that you are just trying to convince yourself that you deserve it. Sometimes it's the persons wants that goes in the way of following the said budget.

There's an important rule as well if you are looking to be better with spending. It's to track your expenses and find out what is happening and where your money goes.

If people knew how many rich people use a budget and follow it, it would be something people would do more of. Many would be surprised because they think that rich people have too much money and therefore do not control their income and expenses. On the contrary, they tend to control them to the millimetre. There will be exceptions, of course, and if they're cradle rich they probably won't use it. Anyway, middle and working class people would do well to use a budget.


I would say that for people who don't use a budget, the first thing to do is to track expenses and then budget for the next month. Normally the first month you do it you will have mistakes and inaccuracies but if you keep doing it for three months you will have it pretty tight.

This is really the strategy I am using right now because it is really working when you have the urge to buy, mostly right now that we can buy using our phones and are mostly easily tempted, like right now new phones and other stuff that you found nice, which again we know is not needed, but because we can't control ourselves when we buy, we have like 24 to 48 hours to know if you still need it or want it.

Not everyone can have a discipline live!

I'm a discipline person and have a strong memory, so I don't have to write down what I do today and in the next day since I remember what I need to do. It's a boring daily life, but I'm happy because everything works like what I expect. However my friend isn't like that, he's not discipline and want something different everyday, but he have a good career, so it's not about discipline.

To avoid over expenses is only one key: frugal living.

This is very necessary and important insight especially for those who are impulse buyers. Sometimes we find ourselves swiping the card for goods we don't really have a use for but because at the moment the product displayed may look fancy and the price just fits. In economics, there are wants and needs and as such learning to use the 24hour rules helps to place our priorities right.
  This helps a lot too. But just to add, it's also important to set aside funds that can be used as miscellaneous Incase things go south as this prepares you for unforseen circumstances. And again, if one does not have a certain amount of discipline, all this goes to waste.

All in the name of lowering your spending you can still make wrong decisions, it's cool to avoid unnecessary spending but not in every area.

This was what I did back in the days when I was new to crypto mining, I bought graphic cards to mine Ethereum and other altcoins then but I cheaped out on other important things like quality power supply, I went to buy cheap PSU, because I want to save money.

Later after running the PSU for a week it killed one of my GPU, I don't even know that the GPU was dead, until I went out and bought a better brand new PSU.

I spent more money trying to save money.

I still end up killing a GPU that's worth 300+ in dollars.

If I don't cheap out on these I would save a GPU from death and still have the best PSU.

If you can't afford quality things, solve your income problem, don't go around looking for cheap things because you want to save money, there is original and fake items out there and people who are hell-bent on saving every penny will become more attractive to cheap things.

Well the truth is that if every individual can discipline them selfs a lot wouldn't have been happening, things like disrepute while going out to get something either at the supermarket or shop when they have no enough money to pay for their bills.
Anyways the 24 hours rules is good because this is how we know what we wants throughout that day and it will also helps us to spend lesser.
Setting a budget is the most important thing, setting the budget and writing in down in a piece of paper and keeping it at a particular spots in the house were we can always see it and remember incase we gets about the budgets we have.
Finding out what trigger the cost is too easy to find, we spend the money our selfs so we can easily know what make us spend excessively and cut it short.

Avoiding over spending can be achieved by been very discipline with our spending, most time it isn't that we don't earn enough but we spend too much more than our budget and that's because we lack planning. Every individual that wants to reduced their expenses has to plan evey dollar they're about to spend and anything that wasn't in the initial budget shouldn't be spend on unless there's excess cash kept for situation like this when they come up

If you budget yourself properly, you won't have a problem wasting money on wants but focus all your money on the things you need and keep the remaining for investment that when you sell your investment in the future, you can have enough money to buy anything you want.

OP, did you get this guide from the internet? Oh God, you have not even tried to live like that. Who are these people, and why don't you teach from experience? Who are the authors of these tips? Staff Writer and Public Relations Officer Tips ;D ;D ;D
OP, every family will have their savings; it's impossible to stick to a standard. Cleaning every day to avoid surfing online stores, are you serious? A list of all the foods you will be eating all week? Damn, I will always have a question: why then live? If you live on a list all the time, are you not allowing yourself your favorite coffee? Coffee bags? Maybe packs of fast Chinese food in that case? Did these teachers ever consider finding higher-paying jobs, so they could indulge in petty pleasures?
OP, Since the forum is about Bitcoin, you have not concluded. With all the money you save, you can buy yourself some Satoshi, and maybe one day you will become rich. ;D
The question is, how many years do people allocate to themselves for the happiness called "later"?

I like budgeting but I do not like how we have be taught about budgeting. So many people dread or hate budgeting because we have been taught about budgeting the wrong way. When we write our budgets we do it like it is a document that restricts us from having fun or enjoying our lives. Therefore, defaulting on the budget is inevitable. When budgeting we should add nice stuff we need to get for ourselves and not make it look like some boring list of financial obligations to meet. If we plan right, we can throw in one or two of our guilty pleasures that despite being in there, our expenses remains on track. It is more than just being disciplined. It requires that we do it right.

Most of the overspending habits is caused by friends and peer groups you hang out with; if they are causing you to spend more than your budget, you can cut them off if they are not adding value to your life and live within your means. Some may be productive to your life and you cannot live without them; you can only manage your spending when it reaches that stage, but you will treasure the productivity it instills in you more.
 
Instead of cleaning the house when bored, because the house cannot always be unclean, you can go online and learn something new, a new skill, or gain new knowledge about something, which will be far superior to all of that, which will stimulate overspending again.


All of this might be budgeted for, but if you don't have any extra expenses for an emergency, you'll end up spending more than you planned. This is a good approach for saving money for essential things first, then using the rest for less important needs. Just have it in mind that this method will not be useful in an emergency situation.

easiest way to discipline yourself..

set up 3 bank accounts
when you get paid.. your bills total budget should be automatically paid into a 'bills' account
this is your rent/mortgage, utilities...

the second account is any investments you want to do.

the third account is your consumables. things like DIY/groceries/kids necessities(school stuff).. the needs of the household outside of the bills

then any left over funds remaining.. thats the disposible income that can be used for your luxuries

this way. by putting the money aside into accounts to pay your needs.. all you have left is any discretionary/disposible money. and once thats gone you go without

this way you do not have to decide if you should pay rent or buy pizza because your economic depression thinks pizza means more to you than rent this week.. instead the rent is already put aside. thus no decision. and instead with the small amount of discretionary/disposible money left over.. you decide on which luxuries .. EG waste $20 on a fast food pizza or get a $3 pizza during your grocery shop

It’s not easy for most people these days with the cost of living soaring in recent years but to budget your monthly wage and live comfortably it's important to prioritise your expenses and savings.

Start by determining your fixed costs such as rent/mortgage, utilities & transportation. Set aside a portion of your income for essential needs like groceries & healthcare. Allocate funds for debt payments & save a portion for emergencies & future goals.

Consider setting a limit for discretionary spending on non essential items like entertainment. Regularly track your expenses, identify areas where you can cut back & find easy ways to save money like cooking at home or using discounts. Obviously save some for yourself to enjoy life too.

The good thing in this life is each person has it's own choice and risk need to be accepted.

Someone is trying to become rich even though he need to sacrifice himself to eat a cheap food, live in a small house, never take a vacation and trying as much as possible to not spend any cent just to save his money.

Someone is only want to become an average by working under someone company, spend some money for self reward, take a vacation once a year, etc.

Someone is don't care with the next generation, he choose to spend all of his hard earned money, living by paycheck to paycheck every month.

And all of them are right in their own perspective.

setting limits, allocating is more difficut if your doing it al from one account because those limits are just fictional limits that just involve brain decisions. and most people who have issues budgeting do not make good decisions if all income and all expenditure is done from the same account.. the best way is to actually physically separate the budgets over different accounts. that way people cant be tempted to over spend on wasteful things whilst ignoring the important things..

EG imagine you get min wage ~£$1600 a month knowing (i chose non-particular random numbers)
rent/mortgage is £$900
electric is £$80
gas is $80
water is £$40

put £$1100 into bills account

now you have £$500 to split up for consumables. so set a budget for your groceries, kids school clothing and etc
and put that into another account. and that accounts card is the only card you use when you go to the grocery/clothing store

and then whats left is the waste money to do with as you please.

once you have this set up. then you can find ways to modify your expenditure or income to compensate your needs more wisely

When life is more difficult, costs increase while wages do not increase, the more we must take measures to avoid excessive spending and must be disciplined to survive. No matter how difficult it is, we have to do it if we don't want to be eliminated from this world because if we fall into a deadlock, no one will help us. Everyone is in the same situation, so we must save ourselves before we expect others to save us.

But in addition to saving, we should find other sources of income to improve our lives better. We should not be too lazy and only know how to save to cope with the difficulties in life. Because at some point when inflation gets out of control, our savings also become useless.

Set the pattern lifestyle is much more difficult than spending money outside the daily, weekly and monthly income limits. If someone does not have a lifestyle that can be adjusted and cannot manage their financial sources properly, then don't expect them to discipline themselves about financing money out and money in. The fact is that not all reality can be carried out with hope and we often see people fail to manage lifestyles well, finally all problems are left without a solution and there is no resolution formula that is trying to do and continues without a more directed concept of life.

Back to each individual and how they can discipline themselves about expenditure, avoid expenses that are not needed and increase all aspects that can produce financial benefits. Making lifestyle is very important and the journey process can change and not the same, but in the end everyone hopes to be able to make financial conditions better and this is where it requires discipline.

I assume it all depends on the daily or monthly income one gets to manage all the expense and income records.
All of these concepts will not apply well if one's income is unstable. The logic is how he can avoid excessive spending and try to apply discipline to all that is expected.

I don't mean to argue with the concept that you find from the source, but sometimes a tip that is made must do research on all people with their economic level.
For me, these tips apply to people with middle and upper economic class and the authors of these tips rarely see how they apply to people with lower economic class.
Never mind planning to save and avoid big expenses, sometimes they can't afford to eat 2 times a day.

Thank you for these informations and methodology. It's actually going to change and restructured my expenses. I actually go shopping without a List of what I wanted at the end I ended up complaining and become in need of funds before I get paid. Thank you

      -     These are good things you said, I like the 500£ you said and the last thing you said too, though, what Op said is also right, maybe the tips he mentioned could be based on his experience and the sources he put are only for those who want to find other tips, but I'm not sure. It's just seem like that anyway😃

That's why sometimes what I earn here in crypto via trading and campaign is also used to cover my other expenses, because it's also a big deal when I do bitcoin or my crypto to be honest.

This is a great list and helpful as it is. For me, it's actually easy to set a budget, you just need to have a plan that will help you balance your expenses in connection with your income. On the other hand, what's actually hard is achieving discipline. It is not something that you just happen to learn overnight, because having a discipline within ourselves requires a lot of time to develop. Because even though you set a budget but does not have a discipline at all, then you still cannot avoid overspending. So, better to practice it little by little, day by day, and soon it will just become your habit.

It all boils down to “don’t buy the shit you don’t really need.” Live a modest life. You don’t really need to drive a big SUV. You don’t need to live in a big house. Sell the excessive luxury items you have and use them to make investments that generate income. That way you can increase your monthly income and when you make enough investments you can live on your passive income freely forever. If you are living from pay check to paycheck you don’t deserve to live in luxury.

Yes, it's not applicable to everyone's income I mean it's actually good to set plan for your budget but some people their income its not enough to sustain all their needs. But if it happens to that the lower economic class people gets an increased and doesn't know what to do for their extra money. Then these list would be helpful for them. It's like giving them an idea to how they can manage their money. I actually agree that it would be better to put list not only that middle class above could follow but also for the lower economic class as well. Cause I believe having knowledge on financial could help them to get a better living, if you don't know how to manage it for sure in just a short time your money would be gone.

This might sound strange.... but it works.

Pay with cash! .... The Banks found a way for people to spend money without thinking about it..... they introduced Debit and Credit cards that remove people from actually seeing how much they spend.

People that are using cash, experience first hand that they are using less money... because they can see how it is getting less in their physical wallet... so it is an immediate reminder that their money are running out.

Cash is King .....  ;)

Exactly, is not a matter of setting a budget, you just need to have a source of income to balance your experience, is good to budget before doing something, but how the economy is now in our country, things are getting more expensive, not everything you budget you can offered to buy, he don't mean someone who spends too much has no discipline, i will say that many people who spend money too much know what they are doing. since you will not be saving anytime soon. You must take risks since life is all about taking risks, and you must have enough money to estimate for what you require; people budget if you have enough money to spend.

Usually, I make a list of family needs for the week, complete with estimated expenses, to see how much money I have left. I also make an approximate to-do list for the family for the following weeks so I may have some leftover money that I can use to invest more or save the money for sudden needs.

But sometimes it can't go according to plan because we can have sudden plans that need to use money. But that's okay because I've allocated some money for this sudden need so I can fulfill it immediately.

And I have reduced spending money on things I don't need and only use the money for everyday needs. And to reduce boredom, I feel it's better to entertain myself by doing many activities at home or outside the home than going to a cafe.

The more mature we are, we will think maturely too and lower our ego level, more concerned with ourselves and prioritizing family. And that's what happens to people who are already married.

I think the most important thing is the fifth point, which is setting a budget, without a clear budget, no matter how big your income will run out, I've had income that I think is big but because I don't have a clear budget, almost every month I run out of money so it's hard to save.

Defining any kind of lifestyle for yourself and keeping to it day in and day out still points to discipline, as a matter of fact, having a frugal living in order to avoid over expenses still boils down or consist in discipline.

For no man can abide by any rule or a pattern of living so long without having self-discipline which drives him to dictate, decide and stand by that which he has chosen to uphold.

 A frugal living is all about cutting cost and by cutting cost you're depriving yourself of certain pleasurable services and products which on a norm you ought to lavishly enjoy but it's in the self-discipline in you that you're able to keep to cutting cost keeping to a frugal lifestyle. In conclusion without discipline frugal living is impossible.

Avoiding spending is something that many people really want, but of course this is not an easy thing to do for some people for a variety of reasons, of course, we can't just read it from books, it really takes desire from ourselves and strong determination to be able to do it consistently. I am very interested in how to avoid spending that you have mentioned, this will be very useful for me and I am interested in applying it to myself, of course this will be very useful.

I tried all of those method few years ago, it worked but only for several weeks, after that the urge to spend money on entertainment and not so productive stuff piled up and finally make me surrender. The only solution I have for now is depositing my money on to term deposit so that I can only withdraw it after certain period of time. I don't know if anyone has the same problem like me, but I never learn how to save money until I can earn my own money, and starting to learn how to save money when I already an adult is not so easy for me.

Making a realistic budget is a great tip. It's really important to understand what's possible to achieve, what's going to be a big strain on one's well-being or physical health to achieve, and what's not realistic at all.
Then as for the second one, there are things that a person should fight, but there are also those that might already be replacing worse tendencies, so perhaps allowing some expenses to counteract those other things can be reasonable and should count as medical expenses, pretty much, because you'd probably need those otherwise.
And sometimes a person isn't prone to luxury, and the opposite of only spending money on the things you really need can lead to a boring life.

I think the best is to have a better saving plan.. for instance, when you receive some specific amount by end of the month and you have some saving plans and you also distribute the money accordingly it will help you not to randomly spend your money and it reduces you from spending in an unnecessary things just as you had mentioned. When you have a better saving plans and once the money comes you places them at the right place it would help cut down your expenses no matter how hard you have tried to cut down cost you would not still live extravagant life because the money is going where it's properly placed.

I was also facing this heat, when money comes request tends to increase from family members and relatives what to do is place your money where it should be and also do not forget to curved out the charity as that is your spending from anyone that requested out from your monthly plan, you can easily deep hand over there and give to whomever you want in as much as in your charity account.. this charity account may be wallet and bank account but let it be that you don't empty the account or wallet to be able to give to charity. When you put all this plans you would know whether to spend on luxury or not. As a responsible person you don't spend when is not needed because responsibility are tied on you, this is very common with the us in East (Africans).

In other to avoid overspending and maintain discipline,it is necessary for one to create a budget plan and put it on a scale of preference so as to be able to track expenses and prioritize needs over wants.
One can be put to self control of spending unnecessarily with this process... setting financial goals can also enhance better money management.

I can say that i do really have a problem in this regard;
3. Break down luxury expenses

Currently, i do really have a big problem when it comes to this kind of expenses on which im really that totally regretting as of this moment on which im suffering on paying up on huge interest since
all of my current credit cars with its maximum limits had already been spend out and now im struggling on paying every one of them on monthly basis which im only able to pay up the minimum
amount due on which it do really sucks when it comes to this kind of condition on which it is really that something that i should have avoided earlier. This is the result if ever you arent that mindful
about your spending.

I do accept out that i did make myself really that impulsive when it comes to this on which buying this and buying that without even minding about on paying it later or not really that
responsible enough on how to control yourself on using up those cards and now im really that struggling. Come up with some plans on trying out to clear my debt now and
i did really make out that lesson over spending and discipline towards using it or even budgeting my income which it might sound simple but its something crucial i would say.

not saying he is wrong. more like making a stronger point about the definition of "set aside"
many people make a spread sheet and "tell" themselves to set something aside. but its just a mental note. which does require extensive discipline to stick to your idea's.
however setting up actual structures like separate accounts. means if you leave your bills card at home.. you cant spend it at the grocery store. thus protecting the money allocated for bills..
and if you only take the grocery account card with you. you are limited to your grocery budget.
then the third card which is the left overs. you only use that as the last resort which is like a visual thing in your wallet where taking it out causes you to re-think your choices for a second 'do i really want/need this'

as oppose to having all money physically on one account and having to remember idea's and having to make decisions of should you break your budget because you feel sad and need a pick-me-up luxury because you know there is £$1600 in that one account and you can make a sacrifice another day

having funds separated makes it harder to just say, "well theres my whole months salary to spend so why not spend a lil more" because having it separated in actual multiple accounts means you only have £$XX or $£XXX in a certain card instead of £$XXXX. so you think more about if you need the certain things

..
point being even if you tell yourself XXX is for bills. if all income remains in one account people will always find an excuse to validate over spending. by saying "its ok ill just pay extra on bills next month"

however by splitting it up on pay day. means you have that extra barrier to fight yourself against. which helps more if you dont put your bills card in your wallet when you go grocery shopping but leave your bills card at home to just pay the bills


best discipline. anything you consider a toilet flush(waste) the next day. EG fast food that just turns into tomorrows bowel movement. is not a good investment. so go without junk food and invest it.
then dont sell all investments to go on a junk food binge when you profit. just sell the profits and use just profits for junk food
whilst still investing the base capital and any new income on the next correction after the ATH corrects back down

budgeting wouldn't cut it anymore in this economy. I kid you not years ago my current budgeting system would've worked wonders, but now that things are in the shitter and it's way harder to manage expenses it's become so hard to budget without sacrificing stuff I was able to enjoy in the past, just so I don't starve before next paycheck. The only realistic way for you to still survive the current financial crisis and still have money to save is getting another job. A job for your expenses, and a job for your savings, plus don't be in rush when it comes to marrying and having kids. You can't raise children when the price of formula is increasing exponentially every year lol. Although if it can't really be helped then by all means.

Unfortunately, a lot of us fall shortly when it comes to managing our own finances as most of us end up overspending, more than the amount of our budget or more than the amount of our means. While tracking your spending will be a great help so you will know where your money is going, and where you want it to go, but still for most of us, even setting a budget and sticking to it is still hard and impossible to do. However, if you seriously manage your spending and stick to your budget that you have set, then I don’t think one will end up overspending. Discipline might be hard but if you are making it a habit, then you’ll find it easy managing your finances.

If you have to be disciplined all the time and spend your finances according to a plan, that's how uninteresting life will be. How are you different from a robot? And would you say no to a child who sometimes asks for a new toy just because it's a little over budget?

Nice comment... and everything that is really good is usually "over budget". And how to save on kids, house, car, and everything else? Everything asks for maintenance. So I definitely agree with you, it's hard to be disciplined and live a life, I feel like we can't afford it, it's like a privilege of the rich people, with very high incomes. We all look for that income/expense balance in life, but I guess this inflation made a pretty nice mess in our wallets, and it's really hard to keep up in the past months, money is going away at incredible speed.

Not only at this point, someone will experience difficulties if they don't make a plan or list of items they need to shop for. Because in all aspects everyone should be able to make an important list before they do shopping for their living needs so that we don't experience difficulties before receiving the next salary from the work we do.

So a methodology like that is indeed very important to apply to life because every thing that is good and can help everyone's life (including our own life) will always be good to be carried out wisely without having to think about many things that we might not be able to carry out so that complaints are also it may come again in the end.

After setting a budget, list all of those expenses that you're about to spend so you will have a track on much is coming in and out for you.

Also when you're doing groceries, list all of the groceries that you're going to buy so that you won't overspend. And the same goes for eating out, before going to groceries, eat at home if you don't intend to eat outside.

Don't let yourself hungry when you pick those groceries because you will overspend and will make you pick those foods that you're craving for.

Set a budget
Dont spend too much on luxuries
Dont spend on outing
Have control on money lust
Have control on travel goals
Always set priorities

This would be the most or best way for you to be able to save up and avoid yourself on having that total wreck.The most important thing is that you do sustain yourself on living
because if you are really just trying out to go well go lucky on everyday without even minding about those plans and possible solutions and additional income.
Then sooner or later you would be finding yourself into such tough situation in terms of finances because you would really be suffering with those lack of money due to
unwise spending and uncontrollable expenses.

I like how you suggest doing grocery shopping fully, to ensure that you don't buy anything you don't necessarily need and are not on your list. More often than not, we buy foods that we only want for a day and then let it rot in our fridge and pantry after. Sticking with the grocery list you make is always the best thing to do, and ensuring that is what happens of course adds more. 

planning anything so we can manage our money efficiently, that's a good thing to do. also i think we need to save some money and start investing. the easiest invetsment that many people can do is buying bitcoin. I think it is okay to sometime spend money for self reward. it can make us enjoy our life and get the happines. we are live in this world only about 100 years maximum and many are less than that. don't forget to be happy.

It’s hard to create and stick to your budget if you haven’t got discipline. And your point about creating a budget that’s  realistic and more importantly, achievable. You would need to put down all what you spend your money on, note what luxury goods could be substituted and what isn’t really needed. For a lot of people, changing their spending habits even slightly to conserve money and sticking to a tight budget takes discipline.

Inflation is creating a mess for us and money is disappearing fast. If we are aware of that, discipline and planned spending must soon be implemented more strictly. Because without discipline and planning, and we spend freely, bad things come to us faster.

Disciplined planning and spending don't mean we have to follow a robot-like pattern all the time, it does mean it makes us conscious of saving and spending in moderation, do not spend lavishly. Depending on each case and situation, we spend it in the most reasonable way but don't be too wasteful. That is the purpose of spending planning and discipline.

It is not always necessary to be strict in your finances, and even those poor people who earn below the minimum can still buy what their children request. You are right, there are really times that we need to break our budgets, which I do sometimes when needed, but again, this kind of mindset will not always be followed as we are sacrificing other things just to purchase what we want. We should have a balance on this, like we need to spend what we want as a reward on ourselves and our family.

this is where you would include kids toys into a budget
also just endlessly buying a kid anything they scream and beg for to shut them up is not raising a good kid. sometimes a kid has to learn the word no.

if your worrying about food but complaining your kid deserves the latest iphone they have been begging for. its time you sort your finances better, and let your kid know about the families financial situation

there are other things you can do (depending on kids age)
if they are old enough to dress themselves, brush their own teeth but not old enough to use  lawnmower/vacuum cleaner.. set them a chore chart. if they brush their teeth and dress themselves they earn stars on their chart. which convert to pocketmoney to spend on toys/candy..
if older they earn pocket money for cleaning room or doing the dishes/yard work

budget an amount equal to a week of star/rewards/pocketmoney.

also dont ignore the cost of birthdays/christmas and then suddenly the month of birthday/christmas then worry about buying gifts for kids. instead. set a budget for the birthday/christmas. and then spread that amount over the 12 months of the year where you save up each month

or simply..
if you have spare cash each month dont waste it on your own vanity/luxury. save it for your kids well being

Financial management is always taught how a person in spending his money for the right needs and they must prioritize something important rather than buying some needs that are not so urgent. A simple example when we can buy basic needs to be processed and cooked at home, so buying ready -to -eat food every day is not needed because it will force money out to be much greater for those needs. When talking about spending something needed then we must be able to place something far more important.

The financial regulatory system's methodogous is a person's step in preparing for his management and if it fails to be managed properly well it will be difficult for anyone to avoid excessive expenses. Unstable economic conditions will definitely force each group to try to save the budget unless those who have income above the average expenditure needed.

To be honest, I also have a plan and a spending limit for each month, but I can't stick to my plan in detail. Because we never know what will happen tomorrow. Not only with our children but also with friends, work, a lot of social issues that we have to deal with and being too strict about our finances or having to stick to our plans can ruin a lot of things around us. I think instead of being too strict with ourselves in spending, why don't we find ways to increase our income to be more comfortable? Why focus so much on saving and tormenting yourself?

Just make more money, increase your cashflow so you don't have to worry about budgeting too much, yes it's a good thing that there's a budget and you have a discipline on how you spend money but you've got to step up your money making game too, if there's an opportunity that allows you to make more money, get it. Sometimes it's not that you are overspending, sometimes it's your cashflow, it's  so little that you're forced to skimp on stuff that you're not supposed to skimp on.

Budgeting can be helpful in managing your finances for sure, and I know it because I'm not following a budget right now and I don't even know where the money that I earn goes because I just keep spending on things that are needed or asked for by the family and don't really keep a count. If I had to set a budget for everything, maybe I could have some extra savings since I would buy things more carefully when I know that I have a budget to consider.

Also, inflation has made things very difficult, even if you earn a decent income in the place you are living in, you will still face difficulties managing everything within your earned income because the prices of things are touching the sky and you will have to spend more than what you might have been expecting.

        -      f we are talking about the budget and application or implementation. what we are doing in the crypto currency business is still a good practice that op mentioned, that when we have the opportunity to make money in crypto we can apply the 24 hour rule.

So before we buy a crypto, let's not just buy it right away, let's spend a day researching the crypto why it is necessary to buy it, so that at least we can see if we were just taken by the hype or not in this matter. In this way, we can avoid being fooled quickly by people who take advantage.

These are powerful points in an intelligent topic. Thanks for the knowledge.

However, some of these points still struggle to thrive in environments with very low and unstable income generations. For example, most people in 3rd world nations earn less than $30 monthly and family expenses that are beyond $50. Trust me, these expenses emanate from daily necessities. It is a tough one out there for impoverished nations.

We can only hope that some countries around the world get better through intelligent, genuine and goal-oriented leadership to drive economic growth in these nations.

Thanks for the post!

I don't need some kind of time table to know how to life a good life, and how to build a good future, all I keep doing is making sure that eighty to ninety percent of my money goes into investment every month, whatever remains on ground is what me and my household will use to survive, this is my way.

To me, investment always comes first before anything else, this has been how I have been lining my life for the past years,  I can't help but keep saying that my future is going to be brighter than my past.

If you want to be poor and have a bad future in sight, always spend all you can and use what's left for investment, what you sow is what you will reap.

The thing is most of people don't know how to make more money, even they know the side job, they're only earn small amount of money and it still not enough to change their life. It turn to be worse if they get sick due to working overtime and they need to spend more money to buy medicine, they're not make more money, but they ended up spend more money.

Many rich people don't want to let anyone know how to make money to the poor.

While a side job won't get them out of their predicament, you can't deny that having two sources of income is always better than one. And to be able to change lives or escape poverty requires a lot of planning or strategy, not working all day. I have not seen anyone who works as a hired hand to become rich.

People who don't know how to make extra money are lazy people because they can do anything and part-time jobs aren't too hard to find. But I know many people won't be willing because they think the pay is low or the job is too mediocre, and they deserve a better job...That's the reason.

It's no news that human needs are insatiable, while resources are limited, so we have too many expenses with little to attend to those needs of ours.
In my unprofessional opinion, having extra income or part-time jobs doesn't solve the problem of overspending. Thinking about it, it's the time when I had more money that I found myself spending more...
Now, I'm not saying we shouldn't get extra jobs or something, but if you want to reduce the way you overspend then it all comes down to discipline.
Make sure you save every month, week, or day. Whether you're low on cash or you have money, always try to save, no matter how small.
Funny enough, there are people with money who have nothing in their savings or no investments, and I've also met people who usually come out as broke, but have something in their savings. It's a habit you need to discipline yourself into doing as it'll help you in the long run.
 And another thing is making a budget, really helpful. Making a list of things you want to buy according to their importance helps a lot. Like I do that almost all the time in school, where I have to decide between what I want to eat, and what my money can allow me to eat. Budgets are helpful, keeping your finances in check always.
So, basically, we have to discipline ourselves into saving regularly and avoiding things that we don't need.

As @Wend have already said, two sources of income is still better than one and I don't believe that opportunity doesn't knock on everyone's doors, I am pretty sure that in some way, there was a time it did for everybody. Working overtime for your only job is not making more cashflow though, the money generated on that isn't a lot so I wouldn't count it as a different cash flow.
As the saying goes, "If everyone is special, no one is."

People who are wise in using their finances will definitely prioritize their basic needs first before buying other luxury items that they may not have the time to use yet. Moreover, if he is very aware that making money is very difficult in conditions like now, of course he will learn to be frugal in all aspects and especially in the aspect of spending money for his daily food. Because it is something that cannot be postponed (unless he is willing to starve his body) which will eventually get sick, so basic needs are the first consideration for people who want to use money more sparingly and also wisely in life.

Those who have above average income have also learned to save a lot, because they also don't know what the world's economic condition will be in the future, so they also don't want to waste every day. And everyone has also realized that wastage is a very bad thing even though they have more income than other freelancers, because in the end they will also experience difficulties when they continue to spend money more extravagantly through life.

This way is more efficient, but I don't mention or discuss it, everyone just suggests ways to maximize the savings. Life is full of surprises and overspending is inevitable no matter how perfect our savings plan. Unless we live alone, without family, without friends around, the savings plan will be more effective.

Why doesn't anyone save by making more money? So we can both spend comfortably and can't spend too much time planning to save? Moreover, having an extra source of income will help us live more fully instead of finding ways to save money.

Sometimes it can be hard to resist the temptation of buying something out of our budget, especially when it would bring us so much satisfaction. However, we all know that giving in to these temptations can lead to a shortage of funds later on, and it will not give us any good.

As for me, I create a budget plan monthly to avoid over-expenses. First, I list all my expenses, including bills, groceries, and any other costs incurring regularly. Then I also monitor and track my expenses to ensure I stay within budget. I try to avoid impulse purchases and unnecessary expenses by planning ahead and sticking to my budget. Lastly, I consider ways to save money, such as cutting back on dining out or shopping for deals and discounts. I checked it multiple times before buying it if it was worth it and had an important use case. We can really avoid over-expenses and stay on track financially, and we just have to take it with complete discipline and have a stand to stick to the plans.

I will have to agree with you to a very high degree that all these things are not some kind of standards that everyone must have to follow. This is because what works for one person might not work for another. As you have rightly noted, some people does not earn steadily, what comes to them monthly or weekly is very inconsistent and unstable which will make it difficult for them to plan.
While a few have a very standard income and they would not have the ability to plan on how to spend them. This does not actually mean that articles like this are not helpful. But what it actually entails is that there is a very much discrepancy starting from the size of earn, to the standard of living. What the topic created listedis fine, but I would argue that the point 1 and 5 is saying the same thing, it is all about budgeting.

It all breaks down to wants and needs on daily basis just in order to avoid more expenses. Having a budget necessarily has a great factor in order to have a solemn daily living and with that it can save from short budget issues. As well as having a good discipline will bring good significant on savings and future unnecessary expenses as well.

I am also in this problem, many earn much less money than I do and save a lot of money every month but even though I earn comparatively more than them, I run out of money before the end of the month. As a result of which I sometimes have to borrow from others. I have tried many ways to spend less money and save some money but I have never been successful in my plans.

I work in a private company and along with the job I continue my education and also I have to pay some household expenses but after paying the household expenses I think I should have some money but at the end of the month I never find that amount with me. 
Tell me about how I should spend my money and how if I spend the money I hope to save some money at the end of the month.

Points 1 and 5 are interrelated and the explanation is almost the same regarding planning limits on the use of the budget for basic expenditure purposes and avoiding high spending for other purposes, the main thing for saving and disciplining spending must be implementing financial management based on monthly income and replacing other needs for priority savings, pattern implementing good financial management is very simple and we don't need to hire a financial advisor, but if we need high expenses for other needs then it's better to try to earn income from other jobs, now in the digitalization era it's easier to get optional work that can be done at any time and sufficient income to buy other needs and can increase the allocation of funds for savings.

The most important is to have discipline OP, list are really what everyone needs to do spot-on but, without discipline even if you list all the things that you need, but you can't control your emotions or habit, it will happen over and over, the best example is the person I know, he got 2 jobs all paying good but his expenses are over the limit combine with his two jobs, every time he is short he always say he will save and don't spend the money on things he don't need, but when salary comes same scenario, so without discipline every planning and promise is useless, thanks OP for your topic.

That depends on each person's situation. People earn less than you, but if they live alone and don't have to care for anyone, they will easily have savings at the end of the month. As for you or those who have more responsibilities to complete such as family expenses, children, education ... of course, you can't expect to have savings at the end of the month like them. My income is even several times higher than that of my friends, but I have never had as much savings as they do ;D ;D.

We need to make a budget for each expense item, including important things that we may encounter during the month, so we can fulfill it immediately if we have the money ready.
And only spend money on things we need because it will never end or overspend.
And try to save any amount so that you can also have cash savings that we can use at any time.

All of what we are saying here depends on our life style. If you are that type who spend all he has today and expect that tomorrow greater income will come in then such person is not prudent about spending and may not be able to have savings except they change from such way of life. Money needs to be guided so that it will generate more money, if you have enough savings then you can use that in establishing another business which will become another source of income and you continuously become better financially but to squander all in expectation for another tomorrow is a hope that may be thwarted.

I also always plan for daily and monthly budget. It is surely to avoid excessive spending. When we already set a maximum budget to spend daily or monthly, we must commit to apply it whatever the reason is (except for an urgent needs). Monitoring and tracking our spending should be done in daily basis, so we can evaluate it soon if there is something wrong on it. Those unnecessary spending must be avoided, we never tolerate unplanned spending.

Indeed. To implement the lists, we have to be discipline and committed. Whatever we list to deal with over expanses, won't work successfully if we can't be discipline and committed. It is not easy to reduce the number of expanses if someone got used to it. But with a strong intention and committed to have a better financial management, it is possible to apply all the lists above.

This step is very useful for people who have a stable income, meaning that with a measured income they will easily determine and specify where to use the money. On the other hand, if the income does not match, this step needs to be rationalized according to the demand for daily conditions. The wisest way to react is to minimize expenses and meet basic needs first.

To be disciplined with spending, I think it takes learning and wisdom, sometimes the financial situation gets out of control when a situation like Covid-19 occurs.

When people's incomes are stable and expenses are rising, budgeting is more or less thought about by most people. This budgeting trend is especially common among low-income people. Budgeting is undoubtedly a good way to cut costs. It is a very useful strategy for everyone from low income, middle income or those who belong to the rich class of society. Since inflation is almost everywhere these days, low-income people can manage their lives very well if they abandon certain habits to manage their lives. One should take a break from buying all kinds of things except for those essential in emergency situations. Refrain from buying luxury goods and cut back on some extra expenses like buying afternoon tea or coffee or hanging out with friends. If these issues are properly focused then budget control is possible.

Op have you encounter unexpected expenses in your life? And I believed yes; and I also believe you have heard about supplementary budget. What you have said is very but you have to add those two I have mentioned in your budget so that thing can be moving fine with you if not your budget in the week might be exhausted before the week end. Like according to a saying that nobody keep money for health related issues  it food and clothes can be in the budget. There are sometimes friends will ask you money to assist them get food on their table and when you looked at it the situation is critical so you have to help them if you have. And if the person is married with children, those two things I mentioned will come to play again. But if you are single your budgeting will help you, those there are some days you might spent more.

Opportunities are meant to be searched those who are waiting for the opportunity to knock on their doors while taking the comfort of their home and being lazy often miss out.  As one of the verses in the Christian Holy Scripture :
⁷Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you: ⁸For every one that asketh receiveth; and he that seeketh findeth; and to him that knocketh it shall be opened. ► Matthew 7: 7-8 (https://biblehub.com/kjv/matthew/7.htm)

When it comes to workload, it is better to be a smart hardworking than be hardworking alone since by being smart, we are able to maximize our productivity in correlation to time.




Well, they don't want to share their secret because if it becomes well known, it is not a secret anymore.  Besides, the lesser the number of people knows the method, the lesser the competition.  Each one is entitled to their discovered great financial method.  Whether they share it or not, it is up to them.

I agree with all that you've mentioned and it all sums up that everyone has to live with their means. Because the typical person today that lacks priorities are living beyond their means and they can't take.

It's not par with the salary and income that they're getting but, the lifestyle inflation that they have is enormous and coming to the point that they cannot sustain it anymore.

All that you've said can also be prioritized depending on the person but it's not always a priority that should be set. Like in traveling, it's like a once a month or two depending on how often the person travels.

The fact that today's economic conditions are getting worse every day requires us to pay more attention to our own economy.
- Creating our list of needs
- Avoiding unnecessary expenditures
- Not spending on luxury
- We can do many things, such as taking notes on our spending and organizing it. Everybody is responsible for their own finances, but often similar expenditures are made. There are similar expenses in society that are unnecessary but that many people do. Avoiding these expenses can also benefit us.

This is something I do not really achieve neither, I spend way too much and it results with nothing good for me, obviously it is not going to end up being anything good for me in the end and I should be avoiding it as much as I possibly could, but that doesn't really change anything for me, it just results with something normal.

This is why I believe that we need to end up with a good result one way or another, it should be important and it should be considered a great result. Obviously that doesn't mean that we are going to end up with success all the time, but we should be considering that as an option if we can, and it should be a good thing to just even give it a try, because even if you fail, at least you tried.

I think that if you're still doing good even with that habit, you will not be problematic with that but it's good that you're aware that you're spending too much. Sooner or later, you'll realize that there's a need for you to adjust with your spending habit not unless it's not really affecting you that much.

Right, if you don't do anything and you're ending up with a bad result then that's something that you need to acknowledge. And even it's hard at the beginning to make up things right like in savings or overspending.

You have to try all the methods that you know that must be applied for your own sake.

For me this point is one of the basic or most important things we have to do to overcome excessive spending, namely by setting a budget for our needs or expenses.
Unfortunately, in my opinion this is sometimes very trivial for some people because maybe they feel it will make it difficult for themselves because they have to make detailed notes, even though if we don't make a record of our spending budget then our money will definitely run out quickly because we don't have clear goals obviously to spend the money or income that we have.
In my opinion, by making clear and detailed budget allocations, we can actually make it easier for ourselves to know and control our expenses, and we can control overly consumptive lifestyle desires, or we can say we buy things we don't really need.

I particularly liked your point 4. Make the 24 hour rule. I think it’s practicable and if done right, could help put off unnecessary spending.

Irrelevant purchases often happen on a whim and most people tend to give in to those urges to buy what would seem then to be urgently needed.
But if you could just put off buying that item for a while, you would realize you don’t really need it.

We get carried away sometimes when we are happy, excited, or sad, which is why we have the urge to buy it off even if we don't need it. That is why implementing the 24 hour rule really eliminates those urges to buy it off, and now that most people have the cash on hand to pay it off, they can pay it off later as there are shopping apps right now that let you borrow money and pay it off on a monthly basis, which is why people are really tempted.

Totally agree with you spending more than expected can be very stressful and sometimes even frustrating... I dealt a lot with this problem, I would even say that there are times when spending more gets out of control, personally it has happened to me when unforeseen events occur, either Whether a family member is sick or something has occurred that requires more spending, the OP advice to develop a smart spending habit is very accurate. In particular, I'd say it's essential to carefully plan for day to day expenses and take all factors into account, such as the number of people you're shopping for and any associated costs, such as gas... Avoiding unnecessary purchases and being conscious of spending essentially helps to avoid going over budget...As well as setting clear limits for each category of spending and then sticking to them is really essential to maintaining a successful budget...I always try to keep self control and discipline is complicated in some situations, but it is the key to not exceed those limits and maintain financial balance.

I agree, and yes it is true. The 24 hours (or more) you spend wondering and making realizations regarding the product/service you are thinking of purchasing really helps you decide on whether or not it is worth purchasing or not. Most often than not, we things we buy on a whim just end up not giving any value to us, after a few days of use we get tired of it and that's when we realize that we just wasted a good amount for something that did not provide much use to us.

What you said is true and right, that's the purpose of this topic, that other people can be educated about unnecessary things so that we don't end up spending too much in our daily life for a month. This is not easy to do in the real life of the individual.
But if we have self-discipline, it will not be difficult in reality but it can be easily implemented in real life. so whatever is listed that op said will really help.

Buying luxury items is a lifestyle fulfillment and it is not a necessity that must be achieved by everyone. Prioritizing something that is more important is far more beneficial because when we are faced with an unstable financial condition, we are no longer talking about fulfilling a lifestyle, but rather trying to fulfill something that is needed, including basic needs to support our lives. Saving should not only be done when economic conditions are unstable, but a lifestyle like that should be adopted by many people under any circumstances, both those with lower middle incomes and those with lower middle incomes.

Because we never know what will happen in the future and the worst scenario is when our source of income is unstable or in other words at work we experience layoffs. An intelligent person must think about the future in actions and behavior to support himself and his family because we cannot predict how our lives will be in the future, so we need to prepare steps for this problem.

The portion of savings should be placed with a certain percentage because if all of the income we have is in savings, the productivity of money will not increase. We recommend using a percentage or placing it in several places such as investing or running a business so that the money we have is more productive and does not settle. The method can be adapted to the ability of someone who is able to be responsible, whether utilizing business, investment or other things that are considered more productive.

You're right; spending recklessly without any strategy is a disaster waiting to hapen. But let me tell you something - just realizing it doesn't make you special. The world doesn't care about what you should do; it cares about what you DO

Thank you for your cute piece of advice about "at least you tried." That's the talk of the also-rans. Winning is the only option! The world of Bitcoin, finance, business, and life - it's ruthless! If you're not prepared to dominate, don't even step onto the playing field

Considering success as "an option" is the thinking of the weak. To the victor go the spoils, and that victor needs to be aggressive, relentless, and always ten steps ahead. So, yes, give it a try, but know this: Trying isn't enough. Dominate or be dominated

Perhaps this isn't on your list, but it holds immense significance for me – the art of shaping Financial Objectives.

Frequently, we stash away funds devoid of a distinct purpose, save for the simple notion of accumulating wealth. Yet, it would prove wiser to harbor a robust rationale behind every savings endeavor. Once your objectives are vividly outlined, like say, amassing funds to purchase a home outright, eschewing installment plans, that's where your commitment gains its mettle.

There's no need for grandeur in these aims; commence with the minutiae. Begin by stowing away for a novel musical instrument, a conduit for your passion, or any other commendable aspiration.

I can also say that this strategy is really useful. Instead of spending my money, I end up saving it. However, this is only applicable when talking about your wants, but if you tend to buy your basic necessity, you will have no choice but to spend your money so you can have what you need. Still, spending within your budget and having some financial discipline are a must. Otherwise, you end up overspending and start taking personal debt just to provide your basic needs.

Yeah, it all comes down to take notes everything from the bills, to food and necessities and to the other things that we're spending our money. Just break down everything to see on which part of it you should add or less more.

There are some of it that we can't avoid in spending and that's why if someone can't avoid in lessening the budget from any of those. The mere solution is just to increase your source of income and your cash flow.

These are the qualities that successful people should have, you just have to be able to manage money, then you can allocate finances and you will see how much you need for a comfortable life.

Based on this, you will understand how much you need to earn so that you can save at least 10% of your earnings, but you must also strive to increase your earnings. This is what will allow you to create capital that you can invest and that can eventually bring you an income that will provide you with financial independence. Everything seems to be simple, but people often lack the disciplin for this.

It's wise if we buy what we need, not what we want.
But I don't think everyone can do this because it is very difficult to do. However, if we can respect the decisions we have made to be wiser in allocating finances, this will be easier to do.

I personally haven't been able to fully do that, sometimes if I go to the supermarket or look at the online Shop when I want to buy the things I need there are always useless items that go into the basket.

Despite that I am having some success over the years, I always learn and apply to live within my means. I don’t want to be a guy wearing bling-blings or looking like a rich dude. I am not rich, and I don’t want to be called that. I would rather be wealthy but I am not there. I’m getting there but as a turtle and not a rabbit.

I do manage my budget very well and knowing my limits, but also have to prepare for unexpected circumstances too (e.g., major computer repair, etc). I pay for my health care and accidental insurance every year just in case something happens to me in the future.

We should put more in our assets than liabilities. I mean real world assets if we can afford like land or real estate property. Also to sustain ourselves and grow our net worth, we’ll just put up a lucrative on-demand business (whether traditional or digital) as we cannot keep working ourselves as employees until we retire.

That is a start to help yourself control from having unwanted expenses that might go over your supposed expenses in that particular week or month, it might be not that easy for the starters but that's just the beginning and just like what others say, beginnings are always the hardest and if you can go through that trouble successfully then you're already in for a much easier path because you now know what to do next.

24 hour rule is made to prevent us from buying what we want instead of taking only the priority needs and if you can survive that 24 hour rule then I guess that means that you don't really need that particular object that you wanted.

This was typical of me and I had to spend money of items and services I real sense of it all never was in need of. After a while I discover it was all a waste and I won't have use for them anymore since the excitement had faded. Although op calls he's "the 24 hour rule", mine is the procrastination strategy which really started working for me curtailing my expenses and saving cost. For everything I want to buy I have to question why am buying it and if I don't have concrete reasons I just walk away saving myself piles of expenses.
Some people just want to impress other people, buying to show off, very few rich people walks out of such lifestyle still remaining rich, majority come out broke with debts.

This point is very important if you really want to strictly manage financial flows on a daily basis, even if we only plan what we will buy goods or services for in one day, at least we have a detailed guide to the money we will do. makes it easy for us how much we will spend in total for 24 hours. and it's also important that we prepare contingencies within 24 hours, to cover the margin of error on the plans we have created within 24 hours.
It needs to be understood that this does look complicated, like calculating expenses within 24 hours, but that is just the beginning to form principles in daily money management, after getting used to it, without us having a written plan, we have an image and we know what we have we buy and we don't buy, more precisely we will have limits regarding the use of money in everyday life.

I think this is the most important and every household should set a monthly budget to better control their finances. Even for people that never looked at their finances in the past this shouldn't be to difficult. Just start at the first of a month and write every expense you have and every time you spend money. Use excel and list every item separately to make a very detailed analysis. In case you mostly spend money via credit cards this is even easier as you can just export your monthly statement. After a month you already have all your expenses listed and you can summarize them into necessary and unnecessary costs. With that number you already have a fixed budget for all necessary items and for the unnecessary items you should try and save as much money as possible from it.

Why isn't living in the forest on the OP's list? lol

I 100% agree and saving is the dream of many people including me. But we don't realize it when we look at it from a policy perspective where the government demands that we buy goods at high prices, taxes, electricity, living water amidst instant food and much more. Can we really apply this rule at home with different types of people's habits. Certainly not

Even though we uphold the house rules, the fact is we can't be selfish just to be a keen idealist. Because if we look at the surrounding conditions and live in society, we will know better what the reality is, needs and desires will always be there. I will not deny and advise what in real life I don't do at all.

you can't really avoid spending too much, especially if you're extravagant. But if you can discipline yourself and control yourself, I think it's easy for you to save here. Set a budget for the month you will spend and then save the excess, but of course you also need to save for emergencies so you don't touch your savings.

I know it's very difficult, especially controlling yourself to not spend. But I think that if you do it, you will get used to it and it will be easy for you. Just don't be hard on yourself

Actually people wants luxury life therefore they cannot manage their funds easily. If they do each activity according to planning then it will not be hard to live a life according to the budget and also save some amount.

There are lots of activities which are not necessary but people are involved in it like a person can eat well at home but everyone wants to eat at expensive restaurants. Restaurants are so expensive that if a single person eat at Restaurant then that money will be enough to feed five people at home.

If there is no saving at the end of month then try to know that what are the things which you should not do to save money. I don't say that living a luxury life is bad but I want to say that if everyone lives according to his budget and salary and do not Compare life with others then no will be sad in his life due to shortage of money.

It takes real discipline for anyone to have and keep with a set budget and it’s more harder for someone who spends extravagantly. But if we could be disciplined enough to follow through on a set budget, resisting the urge to purchase things that isn’t necessary, we would make better financial choices.

I think it’s best whenever you’re going shopping to first have a list of whatever you’re going to need to buy. Having a list in your hands could help keep you focused on the exact things you need and also helps to keep irrelevant items away from your basket.

Being careful in what to spend money on is not only about having a list of what you intend to buy at the mall or other narkets, what is important is being discipline. If you are not discipline then you could make some spendings not listed in your book because you allowed yourself to be distracted into something else. There is no rule that says if you have written something on a paper then you can't change the figures but it is discipline that will make you not to change it. Therefore someone who is discipline not to over spend outside his budget would not do that no matter the distraction.

That is some really good advice and tips, but there is definitely a fine line to walk which can vary with age. There is no point saving all your money and living like a pauper in your 20's and 30's only to realize that your body cannot perform as well in your 40's and 50's. When you are young you should definitely maximize your energy, travel as much as possible to broaden your horizons and even waste money occasionally trying different things even if you figure out they are rubbish. However you should avoid being too materialistic or chasing the latest phone or car, which can be expensive to own, in order to give the appearance that you're richer and for no other reason.

You can avoid overspending if you budget your expenses very well, it's called overspending because you're spending on things that doesn't matter and when you realized that you can then easily reduced your spending. For example, if you were using an Uber, you can stop using them and go with buses or taxi for your transportation and you would have saved costs on transportation. Same thing can be done for other areas of you life and you'll have a good spending habits.

Many individuals are living above their income and that's why they don't have savings as they have too many expenses they have to handle but if they only reduced their standard of living, they'll have enough savings to handle other important expense and invest for the future.

You are actually contradicting yourself. Discipline or self control over unnecessary spendings are actually a way of "avoiding" spending too much. I'm not sure what you actually mean by that, but it sounds absolute contradictory statement to me.
On the other hand, saving would never be easy, usually if the source of income comes only from your day job. Without a side hustle, I'm most certain that it's never gonna be easy to save.

It looks easy to manage finances and discipline in managing finances. But it's true, as described above, we need to try, even though we can't be one hundred percent successful, at least we can manage financial expenditure that is right on target.

* buy what is needed rather than what is wanted (training the brain to think more).
* Buy something with durable quality and the selling price doesn't drop (practicing the return value assessment doesn't burn in vain) is like buying luxury goods.
* Detailed data discipline (practicing meticulous cultural habits not leaking in vain) is hard to come by, don't easily waste it.
* don't underestimate small values....if there is investment....there are also emergency savings....you will be surprised after it has accumulated for so long...it looks less valuable but once collected it has even more value.

If you are wise in managing money, you will surely develop and life must have definite targets. For example buying property, bitcoin (this is what I like because there's no loss). There is a saying "Save the base of the rich". So be diligent in saving and investing.

Focus on your needs, and disregard your wants. I know you will still be able to afford all your wants in the future if you become financially stable and secured. For now, know those things that are necessary for your survival and stick to it. That way, you will only spend within your budget and within your means, which means no overspending that will eventually ruin your financial plans. Always discipline yourself when it comes to financial matters. That’s the only way so you won’t end up relying in your debt and just learn to live within your means.

Whenever you will buy something, always check if it is a need or a want.
Because that will help you gauge if you really need the item or not.
This simple technique also help me in curbing down my unnecessary expenses.
If you will just follow your desires, it will be too late before you realized, you already spent a large sum of money
for something you won't really need for the next coming days.
Always remember that those savings will help you in desperate times where nobody can send help to you.

Prioritize your needs indeed and its not really that bad to buy up sometimes with our wants as a form of reward from our hardwork but you should really know your limits and be responsible on  such act.

People do usually mess out on the time that they would really be spending on things which arent that important or really that in priority on which on the time that they have seen that their needs are
already depleting and they cant buy something then  this is where they would usually be freaking out.If you are really just that mindful about your priorities and responsibilities then you wont really be able to experience such problem.Usually people do only learn up things when its too late. Its a basic and common principle and condition on which majority of us do really experience out.

How much more if you do have your own family to raise? Spending out something which its not really that important and simply wasting up your money would really be bring out that disaster.
We know that we cant really be having that income forever or something that huge problems do kicks in.

It takes self discipline and consciousness to accomplish financial decisions, with these two elements it is very easy to manage expensive for financial budget. Sometimes when we buy things we Don't really need, we do it unconsciously and we later realised that the decision was made due to the result of urge and not because it was really important to get. Discipline and being very conscious of the decision made helps on how money is been spent.

This thing is not a difficult task if only one can stand by his/her decisions and never to expend money just to impress people but only go for exactly what is needed.

There are some really good propositions in the subject, but this is a subject directly related to will, and will is a metaphysical phenomenon that yields positive results only under strict rules and repetition. I do not give up my principles even for 1 cent. I adhere to my principles to avoid overspending and to save money. I have seen in my life experience that when I start to compromise for 1 cent, I turn into someone who compromises for 1000 dollars. Of course, I don't always manage to stick to my principles 100% of the time, but when I get out of control, I can see what I'm doing wrong.

Before, i'm really bad in budgeting our money and I tend to always exceeds to one thing (like for groceries) resulting to tight budget for other expenses. If you don't plan, limit and list what to prioritize first, you'll struggle financially.

That's why having a set budget for expenses is really a must to have a guide on how much you can only spend for that particular plan. I also learn to not spend more than what I can earn, this way I can still allocate money for savings that can be use for emergency. It's really effective, we just need to have discipline to avoid spending for not really needed.

if we can run like you do, maybe no one has a lot of debt just to cover his lifestyle. nowadays many people want to look rich even though their income is not appropriate, therefore many people are in debt just to cover their lifestyle so that their friends see them as rich, and can live a lifestyle beyond their income. Such things actually torture yourself, because one day it will explode like a time bomb. However, there are also job demands as marketing which require a lifestyle like that so that it is equal to associating with rich people, because that is their business target.

I completely agree with you. The pressure and enviousness a lot of people get from social media to "fit in" pushes a lot of individuals to live a lifestyle that does not fit their financial status. Instead of buying essentials for their daily needs they instead buy luxury products to show off to their "friends" and brag about it on social media for approval.

Indeed, practicing prudent spending habits and upholding financial discipline is key for achieving financial stability is not only crucial in your personnel but also in your professional life, particularly for those involved in business activities. It is imperative to align our living standard according to our earning, as well as develop habit of setting aside some cash to address unexpected financial needs. Additionally, enhancing our skill set for generating some extra income is equally important. This extra income can be utilized to invest in precious asset like Bitcoin that can potentially yield significant rewards in future.

Financial discipline? Absolutely. Aligning our living standards with our earnings? Couldn't have said it better, but it's basic knowledge, isn't it? Most people don't get that

Now, on the subject of extra income, you're talking my language. Diversifying your skills is smart; it’s something I've always done. But let's get one thing straight: Bitcoin isn’t just a 'precious asset' like some toy in a collection. It's the future. The rewards? They won't just be 'significant', they will be YUGE

Learn from the best, and invest where it matters. Bitcoin isn't just an option; it's THE option. But you're on the right track, and I respect that. Just remember to always shoot for the best

The 24 hour rule for me should be a week rule, because that gives me enough time to think if I should really buy it.

It's not that bad to spend your money over some things that you wanted as long as you can afford it and you're not spending way too much based on your salary, if I'm not mistaken, you shouldn't spend more than 10% of your salary to avoid wasting your money in the things you only wanted, like new clothes, eating in fancy restaurants more often, buying luxury items, so on and so forth.

It is not annoying but it is depressing, knowing that I already work hard but earnings seems still not enough to live even for a basic life. Don't get me wrong, I'm already budgeting with that current state.

I can only feel a little relief when I win a small amount in gambling. Don't worry, as I only use small amounts as my capital though I still have this regret whenever I lose, thinking that this small money will be a good addition already to my important spending. Oh well, at least I had a good time. Extra funds won't be called like that for no reason. They are only a small amount so don't expect that it can always fill the lack in our spending list.

Well it seems that most of us experience something like this, income is still the same as before but the price of basic necessities is increasing and it is very difficult to balance expenses and income. It seems that in this modern era it's not enough for us to just work hard but we also have to work smart, take advantage of all the opportunities that come our way which will generate additional money. In conditions like this I see many of them then look for additional work such as part time to then increase their income. Now is the digital era, everything is automated and very easy, so there's no mistaking it if most of them then do their jobs online like maybe a business in a product, and even I saw many of them succeed there, this is a pretty good choice for pressing our current economic needs. Yes, you are very lucky if you can win at gambling by only relying on small amounts of money. In the midst of an economy that is not good, it is very possible for them to then turn to gambling, intending to multiply their money, but we also have to be aware of the various risks involved and I hope you don't take it too seriously because it will only make matters worse you.

The key here would be;

1. Make a realistic budget

Why would really be needing to spend more than on what you do able to earn or your income? There's no sense that you would be having that kind of spending on which you do look that its not something that would really be fitting out on what you do earn on which means that you do make yourself get in debt because you are really that overdropped because you have left nothing for your daily expenses and needs because you have spent out on other things which are totally useless. Its not really that bad to buy up something specially on wants but this should really be that in controlled manner because if not then you would be finding yourself on deep financial crisis specially if your salary isnt something that would really be fitting out on what you do earn or simply getting in line with your income. Always have that discipline on spending then you should
really be just that fine.

Actually in this case it depends on us in taking a stand.
If indeed we cannot or feel less when managing finances and the budget we have, it would be better if we slightly reduce and minimize the costs we need.

For conditions like this, especially with human nature, which in essence is always greedy, actually, no matter how much income in the end will always have expenses that are greater than the income we have because we are never satisfied with something and always want more things as a form of appreciation for ourselves which makes this a little more complicated to solve the problem.

I agree absolutely  with you op and above all you've said, I think cutting down on luxury and contentment is one of the major factors why people aren't planning  for the future is because of peer pressure and lack of contentment and anyone who has contentment, doesn't get affected by what the society has to offer at any given point in time.

Having a budget is another factor that can't be over emphasized but I think most persons earn barely enough for feeding talk more of savings so we don't have to consider budgeting as a factor except for those who have more than enough for feeding.

So persons do not still understand that the way we earn might determine the way we spend our money. But sometimes this might not work for some persons because they might either have an urge to live a luxury lifestyle with the little they earn or something like always waving the little they have for the future which is one of the best way to keep money safe. If we don't keep our money then when we have emergency, we might not meetup with the demand we need to accomplish. Being discipline all depends on our interest and what we want.

You are really that simply putting yourself into some disaster later on on which living a life which it is really on that lavish side without even trying out to balance on how much you are earning? It would really be a damn suicide. Sooner or later you would be finding out yourself walking and sleeping on the streets just because you dont have a home because you dont have either have mortgage to be paid or having no rent money for you to pay on.If you dont like for your life to be messed up then its better to think up this way and better avoid as much as possible on unwise spending on something that you cant really be able to use or not really that necssary.
Just like the rest been saying that it isnt bad to buy some of your wants but it should really be on controlled manner because if not then you would really be stashed out by lots of useless things and you do forget your priorities.

You would be later on be minding about these stuffs on the time that you do see that your finances is depleting out. In order to avoid such condition then you should have done this earlier and not on the later part.
If you are really that not sensible towards your actions and doesnt mind about priorities and obligations then you would be simply be able to skip and made out such bad decisions instead.

Planning too much also makes life very boring. We should know which is important and which is not, for that we should set time duration. As in the op when we look for buying a product just wait for some time period and understand it's need. By then it is possible to understand whether it is utmost required or not. Based on that you can make the purchase. This way luxury spending can be limited and this is the best choice apart from budget planning where a major portion of unwanted expenses can be stopped.

budgeting and financial planning always work but it honestly also depends on the income, if our income are too small then everything would be over expenses, the first most essential thing is to improve the income first though financial planning and budgeting also should come together with that honestly and then we can start building up the funds that we have, growing wealth and many more.
but we must also remember the very reason why we want financial independence that is to spent for something that we want (well not necessarily overly luxurious items like sports car) and still have so much money left we could be living our dream life, this couldn't be realized by just saving, as my first point still stands, increasing income takes priority.

Financial planning and budgeting revolve around the income you are getting. No matter how small or big your income is, it will then be used to layout your budget and plans. If you have a low income, you should not be buying stuff that is way out of your budget, you should try your best to compromise and stick with that plan. No matter how big or small your income is, those two are vital.

Discipline is really needed even in all aspects. With time discipline there are many things we can do, with discipline it makes us better at behaving. So with financial discipline, we will be wiser in managing expenses.

Self-awareness is very important to do to prevent us from doing reckless things when shopping. And I always try to do both of those things. It is very difficult to do and I admit that, at first it might be easy to do these two things, but this cannot last long with the many temptations and encouragement from outside that make our determination waver.

I agree with the attitude and self-awareness of each of us to avoid unnecessary excessive spending, saving money is far more important in current economic conditions and if this discipline can be applied then at least we can adapt to changing economic conditions. Everyone has responsibilities towards their family and when the fulfillment of life as a support for basic needs is not fulfilled, family conditions will be much more difficult so we have to manage spending patterns very well.

Even though there is a temptation every time we see something to spend, when we are reminded of the basic needs that must be met, sometimes we will undo to buy something that is not really needed. Maintaining the stability of spending and meeting the needs of life with family are important and different things when someone doesn't have children and a wife because their responsibilities are not too big.

Can manage spending planning well even though a little income will be very good if we can do it. You are right by choosing additional income to supplement income, it would be very good to achieve financial independence and properly manage our expenses not to use on what we don't need so that we can save and it would be even better if we already understand investments we can invest to get more lots of extra income.

If you are low in income, you should have more discipline in your budget and not overspend because if we do, that is where we get problems, and we tend to take out a loan or borrow money from someone, and that is where the endless playing on our borrowed money starts, which affects our budget. Though you will still need to budget if you have a big income, again, those with lower incomes are affected the most as they are just earning low.

      -    I think for me setting up a budget will help a lot in my savings of potential crypto currencies besides Bitcoin. although there is a little difficulty in my situation because I don't earn that much every month, but if I only accompany it with discipline and self-control, I think this is a good step.

The right work is all that is needed to realize the plans to accumulate Bitcoin and other cryptocurrencies. So from what I see in what Op did, it's really good to use this implementation in our stay in the crypto industry.

Mistake of people is they didn't have proper budget plan towards what they earn that's why they go to their last option which is to borrow money since they don't have anything left anymore. If they could just settle up their needs and just spend according to what they earn maybe they will not go on situation where their loan amount pilled up.

So hard to teach other people on what they need to do since most of them learn from hard way and realize many things in life once they are in total danger.

Set aside your wants and needs. It is one of the main reason why we always end up being unable to save money or even run out short of budget. I follow the 50-30-20 rule, where you spend 50% of your money towards your needs, 30% to your wants, and 20% on your savings. But I usually ignore or lessen the things that I want to be able to save more money. Before buying something especially if it is not needed, I give it not just a second thought if I will be satisfied buying it or not before considering buying. This way I can avoid unnecessary expenses. Discipline is the number 1 key in saving money.

There's one thing I want to add to this. I have read the topic a while back, so I couldn't find any source. But if anyone remembers that, let me know. So the topic was about using paper cash money instead of money you can't see. When you go shopping, never use a card for payment. You will never get the amount of how much you are spending and how much you are left with.

With paper money, you are keeping track of how much you are spending and what you are left with. It's easy to count on the go with this. What happens with card payment system is, you keep on spending without realizing that you have gone over the budget. And there's no turning back.

That topic has helped me a lot. I am unable to find that topic. If I find that, then I'll share the source.

Do you know being disciplined doesn't happen overnight? It's a process and there are steps you would have to take in order to be disciplined.
Having a list of what you need to purchase before going into the store is a step that helps the undisciplined individual try to remain focused on just the items on the list. Wouldn't you agree? Having a list with you when shopping so you wouldn't stray from the items listed is you literally trying to disciplined and careful on what you buy.

Someone who spends money always on irrelevant things can't overnight, become disciplined and strong willed about his spending habits.

You both are saying the same thing from a different angle. I understand Palle11 as he said that it takes discipline to stick to budget. Using the shopping instance, you may have a list of what to buy, but due to you are not disciplined, you will not respect that very list and still go beyond your budget. In other words, a highly disciplined person without a list may decide not to spend more than $500 and it will happen, whether with or without a list.
Having a budget is in no doubt a step to avoiding unnecessary expenses, but it takes discipline to stick to the budget.

Actually making budgeting funds in the lives of each of us does not only apply to those with low incomes even though the impact of greater difficulties is always more easily felt by those with low incomes in their lives. But for those who have a larger income or the amount of income above the average income of other people, they must also budget for their own lives so that they can also learn to be more efficient and always stay away from difficulties.

Even though in each month people who have large incomes always have more money for them to use and enjoy according to their own will. However, there will also be times when they will experience difficulties when they cannot be frugal in their life, because large expenses with large levels of income also do not mean it will be very good for life. Especially if some people don't remember to save when they have a larger amount of income in their life, even though they themselves may not experience difficulties, their family may experience difficulties when they are no longer able to work to make money in life or when they have nothing in this world.

Well and actually rich or poor a person or a family they still have to manage all the costs of life. Rules are something that must be applied in any case, because if not then we will behave arbitrarily in using it. Moreover, this is a matter of money, if they are people who have more income than other people in general they must also still have some rules by applying budget limits, because otherwise the money they have will not last long.  We are living human beings who always want whatever we think is attractive and also we always have greed in us. Not buying something that we don't really need is a very good choice, it's better to save some of the money we have for other purposes, we never know that we could experience something that cannot be predicted and at that time we will need money urgently.
Saving on expenses would be better and only buying something that we really need and can provide good feedback for us would be better.

I agree with you. No matter how rich a rich person is, money is not limited. Having rules to follow is the best way to go, no matter what your financial situation is. It ensures stability and smart financial choices that your future self will surely thank you. Additionally, most often than not, it is very noticeable that the rich even holds more financial rules and policies as they need to be responsible for their money to ensure that it runs out cause they have so much to lose.

As you get older, your needs continue to increase. In this case we also need to expand our business so that our needs can be met and we can have savings.

When it comes to saving, many people save money by reducing rations or reducing adequate food intake. They do this to save money, but what happens is it weakens our immune system and makes us more susceptible to disease. which in the end they spend their savings to go to the hospital.

Saving is important, but don't let it affect your health. If we want to save money, we must not depend on just one job. In the sense that we have to open a new business or look for side jobs such as trading and others, so that we have additional income to save.

Yes, people who have more than many others also need to stick to some rules, but I believe these rules are about making more money than about spending less. Limiting your desires will not save the money you have. Your emotional state will suffer and you will be focused on the fact that you are missing something. And in order to save and multiply funds, you need to be focused on how it can be done, and for this you need to be motivated. And what motivates better than one's own desires?

In today we face various kinds of problem for only over expenses I would like to thank you to bring this topic in front of us. However, I myself have had a situation where I took out a loan to buy a car that I couldn't afford and then ended up incurring additional interest on the loan for not repaying the loan on time. I have learned from this that I will not make such expenses again in the future. However, currently there is some variation in income and expenditure. I think if someone follows the above rules, maybe a beautiful discipline will come in his life. But the main fact is whether we can follow them, I mean how long we can follow them.  For this we have to be strong first

Completely depressing if you are trying to do everything to make your budget fit enough but still in the end, you still fall out of budget. Sometimes it’s not only the minimum wage earners suffer from this but even those high earners, probably because there are more than bills and expenses than their earnings and savings. However, when I gamble, I reserved a different budget for that, spare money that I can easily afford to lose. If I lose, that would be okay but it will be a lot satisfying if we gamble and then we end up doubling or tripling our capital.

Or this one;
3. Break down luxury expenses

You would really be able to save yourself on total wreckage because of unwise spending due to those luxury expenses. This is only good if you do really have that extra but if you are really just that earning
sufficient then it would be a bad idea if you do really let yourself having this kind of behavior. Sooner or later you would really be able to find out yourself on big trouble on the time that you had realized
that you had already spend your life savings which is something that must kept and be used on emergencies or important matters and not on buying up useless things or craps.

This is where people do usually misses out on which making on doing things which arent supposed to be done because if you do then you would really be ending up on a disaster but well there are people
who doesnt bother or care about those consequences or effects until they would be able to realize those mistakes. Common behavior of human being is that whenever they do want a thing then they would
definitely do and dont care nor mind about the after effects.

Luxury expenses are expenses that is not needed by a person.  It isn't a necessity or basic need so if we are planning to avoid over expenses, we must trash this one on our list of activities and don't allocate budget to it, instead, the money that should be put into that luxurious activities can be put to savings and emergency savings.

This way a person will be able to accumulate good amount of money and he can have funds for investment if he decided to invest it on certain investment venture.

Luxury expenses is what it basically is, luxury. Hence, only those who have the capacity and enough financial privilege should be able to enjoy such luxury, or else it wouldn't be luxury at all. What I'm saying is, that people should know what they are capable of buying and what they are pushing to buy despite the risk it will cause to their budget and financial plans. Most often than not, individuals find it a need to buy something luxurious to reward themselves for working hard and earning a good pay without even thinking and realizing that some luxury are not within their realm of financial capability.

The issue with everything is that it is difficult to keep costs under control these days, and the fact that inflation is on the horizon indicates that prices are rising. These days, keeping up is quite difficult because everyone takes out loans for various purposes. When it comes to finances, cutting costs and focusing on one issue at a time—especially when there is a difference between income and expenses—are the finest things a person can do. And most importantly having scale of preference, knowing what you want and what you need.

If they buy such things using credits or loans, then it is not an effective way to organise their financial environment. However, satisfying the desire to own some expensive things, even when it goes beyond the current possibilities, can be a very good incentive to look for additional, alternative sources of income. A person is faced with a challenge and he must use his creative energy, intellectual abilities and will in order to cope with it. And it is in such situations that strong people tend to discover new and better ways.

I'm glad, dude, that at least this thing has given you some realization with your experiences before; at least you can relate what I'm saying anyway, if indicated in the topic that I have given here in this section. In truth, I know that all of us here, or maybe only a few, have not experienced what I have mentioned because they may be rich, but most of community here have actually gone through it.

And you're right that having discipline in just spending is really a big factor for us to avoid expenses that we don't expect to be like that. So, thanks to you too, dude.

You are right, it takes a lot of time to learn how to stay disciplined in all fields of life and not only with your finances, it takes a lot of time because you haven't been disciplined throughout your life and you all of a sudden feel the need of becoming disciplined because you see you are overspending and it is causing a lot of issues for you and your family in the long run since you are unable to have any savings or do anything extra like making an investment and stuff.

So, when you realize that, you will see yourself stuck in a pretty deep well of disorganized actions that you've been following throughout the years and now you want to get out of that will, you will definitely find it difficult to get out of it because you have already built a habit of doing all that.

We shoudn't be planning for luxury expenses if we don't have the type of money to spend for such lifestyle without thinking about what it'll do to our finances. Our budget should be for only things that are very important to us and that's food, cloth and shelter. Other expenses should come last and they should only be considered when we have taken care of the things that are most important, if you can life comfortably without luxury then do just that and stay on budget.

Instead of having luxury expenses, you can have investment expenses and this will be more profiting to you as it'll make you money and not taking money from you like what luxury expenses will do. When you start investing, you're spending money but planning for the future

Exactly. Luxury expenses should already be out of the window if you are already aware that your lifestyle isn't fit for that. Sometimes just having the thought of luxury is a bad temptation, because most of the time, thinking about it drives you to actually spend for it. Instead, it is better to focus on investment and savings that will have a higher chance to cause better effects on our financial status and lifestyle.

Adding up to your #3, one of the best advice I got back then was that, if you cannot afford to buy the stuff or luxury twice then you cannot afford that luxury at all. Saves me plenty of money and avoids having a mental breakdown over having little money due to me really wanting to buy that fancy item that would just benefit my satisfaction for couple months if not years.


Yep, true. Although I would argue sometimes that people might need a "little" things to enjoy life. Having to work over and over and not enjoy a little portion of it might hurt some people's mind in the long-term considering that they're just like "live to work" rather than "work to live".

As long as you have something to pay your bills in the upcoming months, it wouldn't hurt to somehow "enjoy little things".

This is really the biggest problem right now if you don't have discipline because of social media. If we've just seen a new restaurant nearby, even if it is just cheap, we tend to go out and eat there even if we still have food at home. So the temptation in social media is really huge and people tend to get tempted easily. That is why it is better to have discipline and not get easily tempted. Though this is easy to say but difficult to do, if ever I do get tempted, I always check my money and found out that there are only a few left, so I wouldn't go or buy it.

Although we should get rid of luxuries if they are beyond our ability to spend and should focus on saving as well as investing. But we should also not be too stingy with ourselves, we should also take out a little to reward ourselves and enjoy life. Because we only live once in life and should know how to cherish it, don't be forever passionate about chasing money to death without using it. Money is very important, but if we lose it, we can also get it back, but there are things in life that when lost are difficult to get back, so enjoy life but it must be in moderation and accordance with your ability our finances.

The prom here is that people are not generally taught how to behave with their own money. The financial sphere of life is one of the most important, it concerns absolutely everyone, and nevertheless, we see very few examples when it is taught from childhood or at least from youth. Mostly, people learn to organize their financial situation through experience, trial and error. And even this is not a guarantee that a person will draw some productive conclusions, because we are observing a situation when most people do not have enough funds, so they live on credit, get into debt, which their children later pay off, and because of this, they are in constant stress. Although educational courses would contribute to solving these problems, of course.

I agree with you, and maybe it's the same as buying only what you need, and not relying too much on prestige that will only complicate your life, especially if you don't have full financial capability. In life, there will always be desires but it is natural because we have our own desires and have a sense of attraction to whatever we see. It is not uncommon for needs and wants to be confused, where we push for something that turns out to be a want and not a need that has an important role in our lives. But on the other hand, even if we have more money than other people, we should still have rules in life. As I mentioned above, learning to save expenses by not buying something we don't really need, it would be better if we save more or invest in one of the assets that we trust, because we never know and cannot predict what will happen in the future. There will be times when we need money suddenly and by having more savings, we will be able to minimize this and take advantage of what we have planted in the past.

But on the other hand, well I also don't force you to save all the time. because as you said, at least we should also enjoy what we have. For example, you can go on vacation once a month to some tourist attractions to please yourself. So the point is we should not overdo it in life, save the money for something more useful in the future and also give a little of what you have to enjoy once in a while as gratitude for something you have achieved.

Buying things I don't need is not the problem the majority are facing, the most popular problem is having a cup that's less fill and you are trying to use such a cup to fill others up all in the name of helping others, I am no way saying that helping people is bad but the one excuse that people use to give is that they don't know what others will say if they don't help them when they need it, that's even if they can't afford to.

Very big mistake I believe and people still keep doing so around me, it's a great disease if someone solely living their lives all because of what people will say, and trying to help people when you are barely struggling yourself is not a good idea.

Help people only when you can or with what you can afford, do not go extra mile or do things when it's hurting your future plans and your savings.

Keeping track of every expense is a must and one should also include a steady spending bill to meet the needs of each month. When expenses can be properly proportioned, one can increase income to meet the basic needs needed. Another way that needs to be improved is to find a source of income for daily, monthly and yearly needs, don't forget to create a savings and investment scenario to increase a stable amount of income. This can be done on a small scale first and continues to be increased according to each individual's capabilities

Living in simplicity is the key to saving excessive expenses, take for example when you only have the ability to buy a used car, but if you are forced to buy a new car then what will happen is that we spend money beyond our means and we may have to take out a loan or drain all existing savings. The fact is that when we force a lifestyle like this it will actually cause problems, there are many people who do not include a budget that is suitable for their lives and there is no specific portion of the money spent. That is where the real problem is faced by most people in the midst of economic instability as it is now.

When someone does not have the concept of a simple life in current economic conditions, what will be faced will actually increase the number of problems that continue to be faced. In contrast to people who earn far more money than fixed expenses every day because they can make a balance between income and expenses.

The word budget and deficit are complementary to each other and one cannot imagine the other without the other. We see different budgets Yearly budget Monthly time Weekly time and 24 hour time each budget is very important for us.
The budget is filled according to the shortage.Lack of money in the budget is a normal phenomenon of the budget A small budget leads us to improvement and accelerates development.Budgeting is very important for the state and society as well as important for people depends on the skill of the individual in making a proper budget which prepares the individual well for the future and their future.and helps them to run their jobs smoothly Expenditure should be managed in such a way that it can be met by income For each expenditure the amount of income and expenditure must first be calculated so that the work can be carried out properly.The budget should be fulfilled according to the respective situation, it will not be bad if you compare poor people with rich people should prepare a daily budget and work accordingly to create a budget that is achievable.

We can avoid over expenses by spend things in limit. We can use our resources in limit. We should not waste water. Through solar plates, we can save electricity cost. We should make list of our expenses and income, either active or passive. We should avoid to buy liabilities like buying car, motorcycle and mobile phone, these are liabilities that take out money from our money.
Through financial knowledge we can change our life because it is key to success in life. Then one should make investment plan and should invest in gold, Bitcoin and other crypt currencies. In this way, we can control our expenses. Assets are the things that put money in our pocket. Through financial knowledge, we can filter that which one is asset? And which one is liability. This thing makes country rich.

That is a mistake in interpreting saving and ignoring the need for food as a fulfillment of life will be much worse because we will be faced with disease problems and when someone places savings in an inappropriate amount then what will happen will only be more problem. To increase savings, what we have to do is seek more income by working in several places or building a small business according to ability and from here we can make a portion of savings that is much more stable and continues to improve.

Ignoring health for reasons of saving is a bad decision and I don't think this is the right decision. Health will be far more important than money and the better health we have, the more productive we will be in making money. How is it possible for people to save if their health is compromised and where can they get the money from.

Buying a luxury item to reward yourself isn’t totally bad as long as you also have additional source of income that will cater to your wants. But if you are only earning from a single job, and is only minimal in amount, I suggest focus on your needs first, then buy only your wants if you have spare money to pay for it. That is where financial discipline should start with. If you know your priorities in your life, then you will never face a lot of troubles with your finances. Or better yet, increase your means of income so you will never struggle if ever you have cross the limits in your budget.

Whatever tricks and tips are conveyed to deal with excessive spending and discipline, of course all of them have concepts and theories, for sure I support all of that, especially in the economic field.

But as far as I know the theory doesn't run as smoothly as it does in practice, my understanding is the discipline in spending the first is:

* We have to travel and record the expenses and income that we get monthly, to handle the economy well.

If monthly expenses are routine needs, greater than automatic income, all the tricks and tips or methods will all disappear, but if the income is greater than the expenditure of course it's a good idea to do as the OP said, fact, needs must still be met regardless of the consequences, it is impossible for people to only prioritize discipline and how to deal with economic expenses, but they themselves hold back for the necessities of life.

Circumstances are not our reason for not helping others and the best human beings are those who can benefit others. And as long as it makes me feel happy then I don't think it's something wrong to do. And how sad and guilty I feel when I'm eating food while my neighbors are hungry.
And if we wait to be rich first to be able to help others when can we start. While we can help others why not do it. and I believe that when we get sustenance, there are other people's rights in it that we are obliged to give.
We are social beings who certainly need each other.

Also, it would be easy creating a plan or tracking your expenses but it is hard to actualize simply because of circumstances. I do agree with daily needs and necessities which are quite non-negotiable. However  if that's the case then it is one's source of income which should be changed if such thing is not applicable to your daily expenses. You'd only choose between creating an adjustment with your daily budget to be spent or increase the amount you can spend. Discipline on the other hand is not something you would wish and happen in an instant. It depends simply on the individual whether he'd create positive changes or just endure problematic situation.

Helping is something that I couldn't quit doing but of course, I know my limitations. It's just that the feeling of helping others brings an exceptional feeling that no amount of money can buy. The gratefulness of the people around us after receiving help from us is really overwhelming. Helping doesn't necessarily mean that we need to spend everything that we have for them but by just simply sharing our blessings to those who are badly in need.

To control over spending, we need to discipline ourselves. We should know our boundaries and focus on our needs over our wants. It's better to control our urges to buy stuff that we don't really need than to regret things and suffer in the end.

You both are right. Health is wealth as well, that’s why it should always come in priority. While saving is a positive habit, but you should only save when you are capable to save, and not putting other things in compromised just to make it happen. Furthermore, the only way to save more is to increase your income. Do not settle in just one job. Add some side hustles that fit your skills. If not, develop your skills so you can be fit to your chosen side jobs.

Despite on not having that sufficient income or really that struggling on daily living but i dont really make myself having that kind of irresponsible behavior when it comes to health.I do always really

make priority when it comes to this because we know that health is really indeed wealth.It would be pretty useless if you do have the richness of this world but you are sick and does have that health problems.Its never been worth or something that we do really like to happen. This is why you should really be having that kind of balance.Its not really that bad on taking up measures for you to be able to earn more and exerting much effort and time but dont really forget your body and its limitation because once you do abuse it then time will come that it would break down which it would
be resulting into much more harder problem.

If you do see that you are only earning that sufficient for your daily living or survival, then why would really be deciding for you to spend more on what you do earn?
It doesnt really make have any sense on why people do really have this kind of mindset.

That's the best thing, developed additional skills and find side hustle that can give you decent amount of profits to add to your finances, with such kind of addition you'll be able to save more.

Just like what you said, don't compromised your health as it's important to address concerns about
your mental and physical capabilities, with all being set and done you'll be able to established good
financial stand avoid any problem in the future.

Greatly said, I can't agree more, while we are into investment and activity that can lead us to profit and earn money, we also need to invest in our health.  If we avoid getting sick, our productivity will never be hindered.  Imagine working overtime on a daily basis for a month just to end up getting sick the following days.  This kind of scenario will cost us a lot of money and at the same time hinder our productivity.  If we do not want to prioritize our health then at least make our activity balance so that our body won't be overworked.  Having everything in harmony is also one way of preserving our health and make us more productive in creating wealth through different sources.

Yes. I’m glad someone understands you don’t get disciplined overnight. It takes a lot of time along with regular practice and patience to be able to be consistent and in the long run, disciplined.
Sure, discipline is important and it would take some good level of discipline for an extravagant spender to quit spending funds on irrelevant things that are not needed.

But discipline can’t be instilled into anyone overnight. It’s a gradual and consistent process to get a little bit of discipline to curb any habit. In this case, spending on irrelevant things.
A middle income earner with an already disciplined mind would probably not be spending funds getting irrelevant things that are not really needed.

Health must be the main concern that we need to take care of because we can get productivity if our health is not disturbed, therefore health is something that is far more important to prioritize. There are several methods if someone wants to save to reach a better financial stage, working in several places will also drain energy, mind and can also affect health, especially when the work we do takes energy. I prefer to develop a business even though it is small or you can also try to invest in bitcoin according to the capital we have, over time if done correctly we will definitely be able to increase slowly.

Improve skills and try to evaluate any deficiencies in the previous steps that we took, so that there will be big changes when life can always be used as a lesson for the shortcomings that were obtained before. Vice versa regarding the work that we do, whether it's building a business or trying to invest because by evaluating it we know where there are deficiencies and mistakes that need to be improved.

I agree with both of you. It will take a good amount of trial and error before you can instill discipline in yourself. You will have to learn how, when, and what in realtime, by experiencing things in order for you to actually apply such changes. You have to gradually and organically grow through a process that will be filled with hurdles, issues, problems, defeat, and success. You have to be patient, understanding, and is actually willing to learn and not just there for the first ride.

Mistakes are really the best teacher because they are where you can learn. This is like telling a child to go slow because of the possibility that he might stumble, but again, a child won't know it unless he stumbles. Even with my salary right now, there are really times that I lose my discipline, like when there is stuff that I really want that I go buy, and after that, you'll realize that you are already in a hard situation, so you'll be suffering that time until your next salary. We really need to learn it the hard way before really getting into it.

That was exactly my point. I believe, a focus on increasing sources of income could really make a difference in someone's life, compared to just provision of basic needs. Because it motivates to change conditions for the better ones. While exceptional ensuring basic needs keeps you in the same place you were before without any movements ahead.

Indeed, if you increase your source of income probably, you will make a big difference with your financial stability, though with over expenses that will hurt your finances.

If you keep spending money, even you earn more, then it will just burn all this money and will be a waste
and nothing will change at all, increase your financial source while also increase your expenses nothing
helps right?

I can assure you that in my case this was the case. I had a considerable increase in my incomes in the fall of 2021. At that time the inflation due to the massive printing of COVID-19 was already noticeable, even if some politicians later wanted to blame it only on the war in Ukraine, but the fact is that I saw prices rising, people complaining, the news talking about inflation, and I hardly noticed it. I could pay for the price increase by spending more, saving more and investing more.

Normally financial discipline starts with a control of expenses and income to pay consumer debts, if you have them, and to save. The next step that makes your finances succeed is to increase your incomes and if possible obtain several sources of income.

I'm more okay with that by limiting what we want. Compared to giving up good deeds to help others. "I'd rather walk hand in hand than run alone."

And back to self-discipline to keep limiting the things we want. this really needs to be done and besides that we also need to increase our knowledge, creativity and also the ability to do this because over time the need will continue to increase.
and we need to do this so that we can increase our income and be able to help more people who are lacking.

Increasing income is the most perfect solution for us to have a more comfortable life instead of just budgeting savings and limiting spending.  but it seems that very few people do this because most are lazy, do not want to work too much, so they always think of excessive savings plans for themselves. 
Another thing can also be that finding part-time jobs is also very difficult nowadays because as we all know the economic situation is facing a lot of difficulties.  companies and businesses are constantly going bankrupt, so finding a day job is not easy.  therefore, the planning of spending and saving needs to be more focused.

Without a doubt, finding more sources of income is the ultimate way of improving someone's financial status. Maybe some of those so-called lazy people are not lazy after all and only need something to motivate themselves? ;D It's normal though since I know and heard a lot of people who are contented with their current situations and they are not even rich.

Anyways, as per OP's point, it is also very important to discipline ourselves when it comes to our expenses. Even if people are receiving high-income monthly but keep on living lavish lifestyles they will still end up without savings or even in debt which is also common in my country.

Yes, that is one solution that can be done, but in reality it is not that easy to do. I mean there has to be motivation for someone who wants to earn extra income, because if not then they will never do it. And also what must be considered here is the initial capital that they have to spend if they want to make extra money from starting a business for example. Of course we must also be prepared to lose money when the business we start does not go according to plan or in other words our business goes bankrupt for one reason or another.
We must be prepared for all possibilities in this case, but that does not mean it cannot be done, as long as we are willing to work hard and be patient then we will achieve something we want.

Absolutely To have money is one,and knowing how to spend it it's another thing that should be our regular food for thought.
When you have money at hand and spend it unwisely and lavishly without making budget of how it should be spent,its otherwise referring to as planning to fail.

Cause when you don't plan how to make the spendings you end up failing intoto  and it shouldn't be that way.
Firstly, before you get paid at your workplace your first plan should be a budget breakdown of how that money would be spend.

It sure go a long way in raising down ur expenses and reduce your spending limits and promotes your saving capability.

And who expect this to be easy? We are not living in a world where each and everyone provided with absolutely everything. If you want to improve your life conditions, you should make every effort because no-one will do this for you. And what can be stronger motivation than living your dreams and satisfying desires?
By the way, when I wrote about increasing income, I meant not thanks to another hired job, but by virtue of investments. If you just take more jobs, you won't have time for actual life. But passive income can provide you with both money and time.

Op you really do well for reminding us on those extra expenses in our lifestyles. We have to let go of many things in our lives to make it in life. Giving a scale of preference before spending is very good. The scale of preference should be draft out every first day of the day, week and the month so that you will know when what to spend your money for. But whereby you just go and out and spend, you will spend more than the expectation of the day. Though everyone has their ways of spending.

Setting out budget to spend is very good but if the person is that type that like flexing by going to bars and clubs, enh!! That budget of the day will be exceeded. Unless the person would take a discipline action against himself. Online shopping will be more expenses and I will not advise anyone to do that. What you can buy $20 in locality, you order it from online with $35 to $40. luxurious lifestyle is the one that consumed people money these days. And what worked for you might not work for you. All what one has to do is discipline and understand and these two things are well managed in one's life then everything will be okay with the person.

But there are things in life on which do give out you no choice but rather to deal with it specially if you cant be able to make out some investment and see up the opportunity on earning more via other means of works or job
then you would actually be able to dive on it and get the deal rather than on missing out.Yes, it do really sacrifices out your time which would be mainly be affected not only in relation with your family but also with your
health if you arent really that mindful on having that kind of balance of everything. Its understandable that we are really doing all of these things for living on which needing to survive does really need up that extra
work and effort for you to be able to achieve on what we are supposed to reach on. Although not everything would be ending up on a happy end point but at least we are really that trying.

It would really be just that common sense that you should really be limiting out your spending if you dont like on having that nightmare because people would usually be just minding on doing things
after they had experience unfortunate events.

Saving on living costs looks very easy when we plan for it and make careful planning for it. But when it is practiced, sometimes we even get out of all the plans that were made.

And the main key is indeed in self-discipline. And change excessive living habits by replacing them with a simple life.

But for those who are used to living in luxury, it will still be difficult to discipline themselves to live frugally.

the solution I think about this is to have the motivation and goals to achieve something that requires a lot of money. So like it or not we have to save money and collect a lot of money to get it.

Having an investment can really make you more financially stable if your business is working well, but for us, or for me, who is just a normal person that is just living from paycheck to paycheck, it is very difficult to take a risk and start an investment because, let's say, if I invest in something that needs capital, I will be sacrificing my budget for it, unless I need to find another source of income just to sustain it. It is better to think long-term, like, what will happen if you have three jobs and you are already 50 years old? Can you still carry on, or is that the time you start investing in something better?

Having a goal, especially one that we are seriously desperate to achieve is a good source of motivation to try our best to best successful in each step we take to earn money. The goal we set allows us to keep a steady pace and stay on the path we need, instead of being distracted by other stuff like luxury items and obnoxious lifestyle that damages our savings.

The key is discipline and finding ways to earn more because if you only rely on one income, you will find it difficult to make ends meet in the future because an increase in salary can never beat inflation, which is always the enemy of the middle class.
Cutting living expenses by looking for anything that can be reduced can help, but humans will always be filled with a sense of desire and there are times when we end up fulfilling these desires so that they exceed the budget that has been made, so compared to focusing on reducing it will be better to also focus on getting additional income which can make our income increase and from there it can also be allocated to invest, reduce consumer debt and also reduce activities that only spend money such as going to cafes or malls

I think most people suffer from not ever budgeting their expenses for sure. Especially average people never consider how low their wages/income can be in inflation markets so they go to minus every month. But still not calculating, they keep on using debts through credit cards which have over the roof rates in USA (example). So first thing to do is to spend as much as we earn. Bankrupts of families happen because of this.

It is required that we follow a lifestyle that is proportional to the income we have, but sometimes there is income that does not match the necessities of life so we have to work harder to make more money to fulfill our needs.
Those are 2 different problems and different ways of handling them. We must first understand the problem. If we earn little money and have big expenses, we have to work even more.
But if our expenses are due to following a lifestyle / buying things that are not important, then we must be able to control ourselves for economic stability and a future that we need to rearrange.

What makes all these plans fall apart is because our income and expenses are not balanced, so that the problem of saving on living expenses will be uncontrollable and also not fulfilled properly.

One of the keys is discipline, but we also have to increase sources of income because when the income we earn is small but all basic needs go up, then from there discipline will again not be able to be applied properly.

Luxurious living with a large income may be able to compensate for this and an extravagant lifestyle is not a wise way to react, it becomes a problem when the income is small but has a habit of living extravagantly. The trick is to increase your monthly and daily fixed income, simple life problems will usually differ from one person to another. Life motivation does not only talk about saving behavior because at certain moments we need refreshing with our family, medical expenses and children's school fees. Then the way to get this right is to increase income for savings, building a business or investment.

When our economic strength is stable it will be easier for us to meet all the needs of our family, in particular. Remember, life is not just about earning a lot of money but how we can adjust to the needs of our family and most importantly not neglecting our responsibilities as people who have a family. Men will be seen how to be responsible, not just how to make as much money as possible because in fact the nature of men is to be a leader.

I get both of your points, and partly agree with them. However, we couldn't achieve anything if it weren't for some efforts and even sacrificing. For me this is a choice between dependent and autonomous life. Being a hired employee will not lead me to complete independence and freedom. And although investments are associated with many risks, in particular with the risk of losing savings, I am ready to take such a step, because only this can ensure the realisation of my goal in the end. Whereas wage labor, even in high-paying positions, will always put me in a dependent stance, because time is not in my favour, and one day I could just be fired at a moment's notice, and I would be left with nothing. I see my task in preventing such a scenario, and rely on crypto-investment in this matter.

Having discipline in managing finances and looking for additional income is a good thing to be able to continue to meet our needs when facing inflation.
Cutting expenses is indeed an easy thing to say, but it will be very difficult to do if we have bad financial management methods. I really agree with what you said, compared to reducing expenses, it would be very good if we were looking for some additional income so that we could meet the needs we want, but we still need to manage our finances properly so that we don't use the money we get for other things which is not important.

There are many ways to earn extra income, you don't need investment or business. If you are a risk averse person, you can also increase your income by working overtime or part-time jobs.  while that won't make you rich or live a lavish life, it's certainly better than living on a single source of income.  but like I said, it's not easy because it depends on each person's situation and thoughts.  not everyone works hard or not everyone easily gets a job, especially those with low education.

Thanks in advance for clarifying what I mean. And one more thing I want to say besides we need to take care of our health. We also need to avoid what is called "Instalments". Sometimes someone is willing to work overtime and look for a part-time job to get money to pay installments and even worse, they are still working at an advanced age because the installments haven't ended yet.

Someone makes installments from most people that I see not because of need but because of desire and high ego. Want to look capable by others have a luxury car and a magnificent house.

Recording the budget that will be used and how much can actually be spent and can be saved is one way to manage finances or to achieve financial goals. In order to realize balanced financial management between income and expenditure, it is necessary to record or make a realistic budget, expenditures made must be based on prearranged records.
Apart from having to balance income with expenses, it is necessary to determine the amount of money to be saved or invested, besides that it is also necessary to separate the wants and needs in spending. To avoid over budgeting, it's important to review your family's mid and long-term financial goals and think about what you want to do with the money set aside each month.

You can't compare coffee from Starbucks with coffee 3 in 1. :) Actually, the inner content is not the same. If you are used to one level of life, eating and drinking the appropriate products, then you probably will not want to switch to 3-in-1 products. Maybe then immediately switch to drinking plain water and eating only bread? :) How long can you hold out like this for the sake of reducing overspending? Is it worth it to unnecessarily give up everything you need in your life in order to cut costs?

It will be possible to avoid overspending only until you hit your usual standard of living, which will grow as your financial condition improves. Once you reach a comfortable level, you will not want to go back to your old eating and drinking (analogy with food). That is, savings by reducing overspending will be possible only in certain redistributions.

What you've said is excellent, truly excellent. Budgeting, it's like building a tower – you need a solid foundation, and you've got the idea, I'll give you that. Now, budget recording is only the top of the iceberg. I can't tell you how many times I've witnessed individuals commit this terrible error. And they were excellent individuals

Now, saving and investing: two of the most important words in the English language! But distinguishing wants and needs? I've been saying this for years: that's where innovation lies. It's so easy. Why hasn't everyone realised this?

However, mid- and long-term objectives... You ought to aim high. Always. You save this money and put it to work for you. It's similar to hiring a team: you want the finest, and you want them to work efficiently. And when you review your objectives, don't just consider them; live and breathe them. However, keep in mind that even a minor error will result in the loss of everything. Keeping this in mind, you will accomplish truly amazing things

These are nice and interesting advise recommended, if he can cut the cost to other things of no value and set priority of things that matters alot, it will help in monitoring what and what we spend our money for, also there are other things we need to pay attention to, we have to know how to set order of priority in terms of budget and needs through adequate planning, we should end the lavish spendings on liabilities and begin to invest on profitable assets.

You have to be careful with things like luxuries and determine what you really want from life. If you want to retire a bit earlier and can think that far ahead into the future, then that expensive car that you have to finance for five years will be eating away at money, paying a loan interest rate, that instead could have been invested and tripled itself over 20 years. Some people are happy with a cheaper runaround that will get them from A to B, but others consider driving to be their passion and may actively make that decision which should not be faulted. Same with anything else, that 5k one week river cruise could be nice, but for one thousand you could probably get a lot too.

With the rate at which things are expensive adhering to a strict budget can be very hard. Nevertheless one has to be very deliberate about working towards financial security. To buttress your point a bit, having solid investments can also be a key tool not only in building wealth but also in managing current and future finances. That means even with making budgets, scale of preference, and self-control, one has to deliberately set specific amounts either weekly, monthly, quarterly or annually bottom line whatever works for you, to set money aside for stable investments that will yield returns.

When one talks about having discipline of how money is used, it all comes down to having a budget that you will follow nomatter the circumstances!! Yes this includes emergencies as others go out of their budget to spend extra which shouldn't be the case, as you need to allocate some money that will go towards miscellaneous items or emergencies so that when that time comes...the huge bills dont hurt your pocket or cause some hypertension...

Easier said than done, this is from a personal experience  :P

Btw, from my observation...why is it that women find it easy to budget as co.pared to the men who spend without considering budgets ???

If luxuries thing like Gold and diamond or whatever precious which does have that appreciating value then i could say that it would be worth it, but if you are that coming after into those luxuries which turns out to be a
liability like luxury cars and other similar things then it would really be just that creating that kind of potential problem which would really be affecting your finances if you arent really that mindful nor really that wise
in regarding with your spending. Discipline would really be the key and if you arent really that mindful about on things around on how you do spend and on how you do allocate your finances then expect on what comes next. I agree on most words of most people on here that better set your priorities first before among others on which leisure and luxury things or vacation or travel should be on your least priority. They can wait and
what you should really be in concern about is on how you should really be that gaining more income source on which you could really be able to support if you are really that kind or type of spender.

I also have noticed this. In most circumstances, women are expected to be the ones to do household budgeting as men provide the income. Women are the ones to handle transactions in terms of paying the bills, doing groceries, and just generally having the knowledge of when and how much something needs to be paid for, and what is too much in terms of the income getting by the household (may it be from the sole income of the man or both man and woman of the house).

According to an article by Forbes, back in 2016, women budgeted better than men due to three general reasons: (1) women plan while men are impulsive, (2) women avoid risks, and (3) women are not afraid to ask for help. For more understanding of these points, and a complete explanation of them, here's the article: https://www.forbes.com/sites/gingerdean/2016/05/28/why-women-budget-better-than-men-and-what-they-can-learn-from-us/?sh=61318c2469b9

However, bare in mind that the article is from 2016, and I'm sure there are more and better articles out there explaining this and even debunking the idea.

Discipline is the key to everything. If you are disciplined and follow all the rules, then your finances will be very well managed. And before we spend something, we must first think about whether it is as needed or not. Thanks OP all these tips really helped.

Sometimes expenses are difficult to predict every month, even though we have detailed everything, there are always urgent needs that require us to incur additional costs
Perhaps the most important thing is to get into the habit of saving a fixed amount every month, so that we can have reserve funds when needed, and are always productive in seeking additional financial input, so that we can meet our main needs.

Health is a positive energy that can build one's enthusiasm to achieve success, therefore maintaining health is far more important than the desire to earn lots of money. The portion of work must be adjusted and when the break time comes, don't be forced to work because it will interfere with your health. Humans need 7 to 8 hours of rest at night and if we ignore this it will have an impact on our health and if the disease does not attack us in the near future then it is possible that in old age we will get sick. In the end, the money that we have collected must be used for treatment without stopping and the worst part is that the money runs out and we will leave the world because we die.

There is no pleasure in life if you keep trying to make extra money and positive energy is also present in your family if you are able to take advantage of it and providing time with them will actually foster enthusiasm and positive energy in our lives. Be responsible in all aspects to build financial strength and avoid non-productive loans because that is another problem that can also affect psychology and human health, live in moderation and don't force things beyond our capabilities.

this one is the most functional ., because it is our actual budgeting that surely affect our living and funds if not taking properly.
actually the rule number one reflected on this completely because if you have budgeting you will never be triggered by anything.
actually , if you are in legit budgeting , there is no chance that you will have luxurious buying because that will never comes out your mind, you will keep looking for cheaper way to buy or use.
another one that says by the first rule. you must take it not only 24/7 but also 366 days a year(above one from 365 days for surely implementing)
i don't know why this needs to be broaden when it is completely happening if you follow the rule 1.

oif course , because what is the sense of having budgeting when you are skipping from it? if we only limit the time of budget meaning there is a cheat time and from that you can buy more and more and spend a lot?
having this 24/7 for me is the best and safe way to manage your money.

That is so true, that's why we really need to put everything down and so that we can manage some expenses and maybe put aside money for that one as we really don't know what the future holds.

Saving is not that really hard, it's that for some, we have impulse to buy anything that we don't actually need. And that's why we really commend people who can actually save money whether in banks or crypto just like the majority of us and have the mental discipline.

Saying to have discipline is easier than actually leading a disciplined life.
I know a lot of people who claim to be disciplined but cannot change their eating habits.
As many times we lie to ourselves.

Unexpected expenditure we can track actually with some conclusions from the previous months that became the basic material for the reference for the budget, so this returned to you where to save it for unexpected events that cost the previous time to be moved to the following month .
And honestly, budget planning is just a picture of it, it does not mean that fix expenditure for the next month so do not be fixated on the budget, it is only made for your limits in spending the next month, naturally many unexpected expenses, but should In the budget you can shift it and / or postpone it to cover the unexpected budget.

To regulate income is difficult, how much productivity you are, but the most important thing is in financial management, and financing budgets, for certain economy classes that have income limits or minimal salary count should not exaggerate desires that are not useful, it is better to use resources to fulfill That desire is to develop yourself and deepen your abilities so that your position is better if you have a deep ability in the field.


Discipline or consider is not easy, because many people suggest to do it and require time in forming their habits, but it's okay, little by little, the longer you succeed in the discipline of a thing, then also apply to other things So that you have good discipline, especially in finance.

I have a breakdown of my exact expenses every month, I think I have to make sure to see how much I spend, and I also don't forget to always prepare extra money every month to be ready if there are urgent needs or sudden expenses. And from there I can set aside money to save and also I allocate and to invest.
I always differentiate money for saving and money for investing, why? yes it is a form of my preparation so that I don't have to sell my investment when something urgent happens in the future because I still have savings money ready for me to use.

This form of planning we must do, even though we never get into trouble but we don't know what will happen in the future, and when we don't prepare it will be a bigger problem.

But lucky you as you are still able to budget your money, a lot of people right now that are having a headache because again it is the end of the month, they will receive their salary, they will then pay for the bills and also food on which they will try to budget it but it is not enough, though the solution on this is having another source of income if ever our income is just enough for sure we know how to budget or I don't know with other people but mostly I've known they really budgeting their money because if not we will struggle and forgot to pay other bills.

Good plan like that needs to execute the right way. If you have such kind of discipline, the chance that you will not
overspent your money and chance to be more stable in the future or in your retirement is possible.

It's hard to budget, but with willingness and determination to have a good life in your future, you will be able to
established a good and balance money management.

More on how you plan and how you perform to avoid making a mistake in spending your money.

Managing or budgeting finances is very important, so that our lives are peaceful and safe compared to not managing and budgeting finances, and this difference is very real.
And prioritize this budget for important expenses that we have to spend every month because they have become part of life, such as electricity, water, installments or house rent if any, basic needs and so on that we have to prioritize for a month's needs. However, this must also be adjusted to income, and if it is deemed insufficient then it must be cut or used sufficiently, and if it is still insufficient. There is no other choice but to look for a side job or additional income to cover everything. And it would be better if the overall income was more, it could be used to save and invest even in small amounts.

I take precautionary measures to ensure that what i spent my money on are things that worth it, i look into my budget plans on long and short term basis, strategize how to engage what to spend money on and how the value is in term of priority, i also itemized the list and consider the needs in demand on every item before spending money on them, then there are other demands we should be careful with when people are requesting from us to lend them money because such may not be recoverable.

usually we spend money according to our prestige, this is what makes us stressed. If we only have enough money for one month, but instead want to buy luxury goods, we end up borrowing money from other people or even banks that charge interest, which makes us stressed. learning not to be prestige is the best way to manage money, I totally agree with the first point.

And that's why majority of us are poor, because we don't have the discipline to control our finances. We just want to buy luxury things that if you have to look at it, it's all nothing and we even don't know if we are going to used it or not.

That's why the OP has laid down some tips. I know it's very difficult to really control ourselves not to spend and buy things around. And so it takes a lot of mental discipline to not over expense and save enough money for the rainy days.

Very crucial because managing ones finances would really be that something that putting up everything in order specially on how much you do spend and how much you do earn. Having no plans or having no direction on how you do spend will definitely be putting up you in trouble in the future since we know that saving up accordinly and dont make yourself getting drowned with loan or debt is something that we should really be careful with. It doesnt have no sense on spending on something which is really that more that on what you do earn, how you would be able to do that if you do find yourself on huge debt because you are r really that making yourself buy on things that you do want into that certain point?

If you arent that wise or having no proper planning when it comes to expenses then you would be having that huge problem afterwards. Dont make yourself put on a situation or condition on which you might be ending up on thinking on having suicide because you can no longer resolve your money problems. This is why while its still early then it would really be just that wise that you should really be that
mindful about your spending and dont overdo or spend on something useless or not useful at all.

Thats true, to show off the status we keep spending on luxury things which isn't really necessary for us. Even with the spending on food we can limit ourselves. If we start eating what is necessary for the good functioning of our body, huge sum of money could be saved. What we do, we eat for taste rather than health and body need. In each and every activity of us we spend a portion unwanted and when we were able to control ourselves change happens. Once we've experienced the difference, further we won't go for unwanted spending and have the discipline in it.

I've learned a lot in finance about how I'm going to save and invest my money because of cryptocurrency I started to change my mindset and stop just spending my profit, I started to listen to a lot of financial podcasts that could help me how to be disciplined and budget my salary and investment at the same time.

One thing I learned is to always keep track of our expenses, when we have the money it just quickly disappears because of our spending and we are not aware that we already don't have the money, it is just because we are not keeping track of what we buy. We i started to do it I always managed and kept the budget on. One of the best pieces of advice that I get is simply not to buy what you can afford as well as, to invest more than spending, if you going to do that I can guarantee that you're going to have great savings and finance. What I always do is always invest a big amount probably around 40% up to 60% of my salary then budget it with only around 10% that I can use for spending.

Precisely, if you realized things like that, you will start to develop on how to manage your finances,

Buying what you need and not what you want is something that needed to have a strong will to control, most of the time
when you already earning money, your expenses also increase as you think that it's already affordable since you are seeing
it from your hold money that you can pay for it, not realizing or thinking of saving, which would help you a lot in terms of
financial stability.

I agree with you and I like how different this is from others' answers about keeping a budget. See, tracking expenses is different from keeping a budget. More often than not, tracking the expenses we make (may it be on a daily, weekly, or monthly basis) allows us to have a better start when we start doing our budgeting. According to BCA's web post tackling the benefits of tracking expenses, keeping track of how much you spend, what you spent it to, and why provides 5 general benefits to us. First, it allows us to what our expenses are generally used for like is it for necessities, luxury, or health expenses. Second, it allows us to have an idea of the general average of our daily, weekly, and monthly expenses as it is vital for us to know if we are spending more than what we normally do during some days. Next, it helps us identify necessary and unnecessary expenses, basically showing us if we are wasting money by buying things we don't even need or end up not using. Additionally, as I stated earlier, tracking expenses helps us make financial planning or budgeting easier as it already gives us an idea of how much we usually spend, how much money we need, and how much we should be able to save or invest. Lastly, it gives us an idea of where our limit should be as we already have a general knowledge of our average expenses, hence if we overpass that we can easily stop or limit ourselves.

Source (web post): https://www.bca.co.id/en/informasi/Edukatips/2023/03/20/03/57/manfaat-mencatat-pengeluaran-yang-perlu-kamu-ketahui

To be a disciplined person is not easy. Especially if it concerns financial management. To be disciplined takes time and we have to get used to it gradually. Sometimes we have to force ourselves to do it. But if we are used to it, discipline will become easier. Well it was quite difficult at first. But when you get used to it, everything will feel easier.

I used to be a wasteful person. But there was something that pushed me to change my life for the better. Well, I'm also not a person who has good discipline. But I'm trying to become a disciplined person. And sometimes to be disciplined we have to have something that drives us to do it. But in the end we are only human. and we can't be perfect people.

Do you think I didn't have a problem with that before? If that's what you think then it's wrong, because before I was also like that, who waited for the gahi every month and then paid some bills or even loans because my expenses were greater than what I earned every month, I felt that for a very long time, until finally I realized and asked myself "how long does it have to be like this?" and it really hit me, because if I don't want to change and organize my finances then it will be a big problem in the future.
I also started small and it was a process and a sacrifice because I needed to stabilize my finances first before I could do what I can do now.

Well I wouldn't say it was easy and I also practically started from 0.
I made it a habit to divide my expenses into 3 categories and I'm sure everyone already knows this, primary, secondary and tertiary. I started to eliminate my spending defensively on tertiary needs, because if you think about it, we spend more on tertiary needs, even though it's not something that is mandatory for us for me personally. There has to be sacrifice and suppressing our desires.

Discipline in managing expenses is indeed very difficult to implement, especially if you have limited income and increasing living costs, coupled with many desires that are difficult to control, which makes a person often make mistakes. I'm sure almost everyone has experienced this.

However, sometimes good things are discovered or born because of compulsion by circumstances or encouragement from circumstances that require us to do so.
I am disciplined in managing finances only because my family's needs are high so I have to manage it properly until finally these good things stick because of habit.

Prestige is an attitude that is born when a person does not want to look poor in front of the people around him so that people who feel proud will always find ways to cover up their weaknesses or poverty with various things. Overall or in general it is really not good for anyone to consider prestige in front of many people so that it is recognized as great by everyone, even though in reality one's life is still in debt and it has not been repaid by several parties.

The feeling of prestige is a feeling that can be changed or removed slowly from each of us if we want to live more comfortably and be grateful for what we have now. So if we don't want to experience stress or difficulties in life, manage our finances as well as possible because the basic problem can always arise when we don't have money in life.

Exactly.

Those kind of people will even lend money just to sustain their rich lifestyle even though they can't even afford it, in exchange on just to flex that they have "money" to the people around them. I don't know what kind of mindset is that, since there's no benefits I can think of on doing such kind of thing.

Based on my experience, this type of people never learn, they always do the same thing even after something bad happened to them like they ended up being broke for a certain period of time.

You're doing a good job, dude, just continue the activity habit you're developing. And hopefully everyone will learn the right handling of money and how it will be used. So that we don't end up being the ones who end up having problems. I admire people like you who can do such things in terms of spending.

Because planning is like a relationship that should be appreciated, strive to make plans happen for the things that are necessary and important in every day or monthly bill. And above all, discipline is also important.

We have to spend money considering our location. Nothing but the luxury of spending money beyond what one can afford. Before you figure out how you spent the money, you must stop borrowing money. If you earn money, spend it again, and after spending it, borrow money from others and spend it again, then your money income has no value. If we see that we have to spend on loans even after spending our monthly salary, then first of all we should avoid taking that loan and try to last a month with monthly salary. When you can go completely for a month with the monthly salary, then you have to try to save some money from the monthly salary to go for a month with the remaining money.

I definitely get the point of such a diversifying, however, I think, that this is also a matter of time. If you prepare your savings in fiat for a long time, they will become victim of inflation, unfortunately. This is why, in my opinion, from time to time you have to convert this fiat savings into more reliable assets. While having some savings in fiat, especially in cash, is undoubtedly important, it is also worth remembering that this form of keeping money is not truth worthy.

It's not complicated enough to do but sometimes many find it difficult to get started. I understand that you want to live like the rich, but can you realize your finances? It's not uncommon and there are probably a lot of people who have below average finances or income but want to style like a rich person, it's like you create your own problems for your life. So from now on I hope you can save more, reduce expenses that you don't need and only buy something that will be very useful for your life. Sometimes in terms of wants and needs it is always confused, where we think it is something we need but in fact it is just a desire that does not even have a positive impact on real life.

So going for savings would be a good thing, you can save some of your money to save, because we will never know what will happen in the future, there will definitely be times when you need money urgently and you can use that money. Greed will keep chasing you and if you keep following it then it will never end because there will always be something you want.

Disclaimer. In the past, I was taught to save, but my parents always had a shortage of money. So all my savings are always used for living needs, but it's true that we never learn to save for a goal, but usually when we're little we have the money we save to buy toys but that's not allowed. Immediately when we have our own money from the results of our new job, whatever we want we can buy, but on the one hand, sometimes there are times when we are still not free and don't think about how to get more money.

But now that I'm getting older, I just understand how to avoid spending too much money and still have to be disciplined. Including as you said prevention and ensuring that our money is spent on things that are commensurate with income. Now I apply a financial pattern of 40% for basic needs, 40% for investments, 10% for hobbies/holidays, and 10% for emergency funds. Emergency funds are very necessary, even though these funds are rarely used, these funds are very important because they can be used in case we suddenly experience difficulties and disasters.

With how things are going, budgeting will not cut it alone. You literally have to get a second job if you want to live comfortably. There's a fine line between budgeting, and pushing yourself to be frugal and a cheapskate at the expense of your well-being just so you have money to spend tomorrow. In my opinion, aside from budgeting you should also be able to take up another income stream and not just focus on the one that you have right now no matter how much they are paying you. The moment you fall for complacency, your lifestyle is sure to sacrifice. And I don't know about you but there's logic behind not relenting on the push for frugality amidst an economic crisis.

Inflation is having so much effect on our funds especially the ones in the bank. People that are saving there money for a very long time now in the bank would have noticed that the value of there money before is different from the current one now or when they will get access to the money. We need to think about the future whenever we are making decisions and watch too on how we are not going to be affected by government policies that could jeopardize our interest in a long run not making us to achieve what we intend to do over a period of time.

You have a point in this matter, we must think wise in keeping our money in terms of expensing it. Though, everyday we need some food to eat and things we need to use everyday like our in our personal hygiene. Everything should be in budget, we don, need to buy excessive things in which it is not important. And for us to do this it needs discipline and self-control as well.  So thanks op at least for the effort you did here to remind others for this matter anyway.

If you make a disclaimer about saving or saving money for a purpose or with planning for something, you should also differentiate between your own life after getting a job and life when you haven't got a job so you can see the difference in your efforts to save. That's what your own parents have said, maybe they have felt bitter things that they don't want to happen to their current child. So they tell you to save in life for a better purpose in the future.

The pattern and percentage of financial distribution that you apply is not bad because maybe other people also do things like that even though with a slightly different percentage. Placement of spending money on things that are worth it and things that are needed is the main foundation for everyone to be able to apply the pattern you said.

Saving without any purpose of investment is like wasting money bit by bit due to inflation.  If we save, we must make sure that we are allocating it for future ventures that will gain us more money so that we can negate the effect of inflation and at the same time we can have more sources of income.  This is like making money out of our money.  We should also allocate funds for emergencies so that we won't be in trouble when the time comes that we need urgent money.

Yes, that's right, buddy. When everyone is able to manage their money, it's no surprise that they can build up savings for the future and, in addition, can set away money for an emergency fund. A savings account and an emergency fund are the first two ways we can save money.

If we learn to manage our spending, this is the main outcome. Who will gain from it, too? Of course, for us as well as our loved ones, who are important to us. We are merely preparing ourselves for events we do not anticipate occurring as well as the future we want for our loved ones.

I totally understand what you mean about fiat savings. And I realized that, and I also used the money for my further additional investments, over a period of time.
I am usually flexible in terms of time, it could be once every 3 months or more than that I change my savings for additional money that I allocate for investment. I'm usually 50/50 on this, by that I mean half I use it to buy assets and the other half I don't touch it at all. For the total amount I am usually flexible regarding the opportunities I see on Bitcoin, it could be bigger like 70/30 or smaller than that.

These are ways we can easily use money wherever we have such necessity. But to save them we have to do more than just keeping them in fiat. Because fiat money is not a reliable asset, it tends to inflation or deflation, it also inclined to be destroyed or blocked or lost. And you cannot be sure, that you will have access to it, when you need it. That is why you should concider other ways precisely for saving, and it can be investing included.

Emergencies and unfortunate events could really happen in someones life which it would really be just that normal that you should really be that be prepared on such thing.We arent wishing for those things though

but there are really moments in life on which you would really be needing that financial back up which it isnt really that limited to yours but also into your loved ones too on which it would really be just
that normal that you would really be needing to be prepared because on the time that you dont have money specially into those times that you are needing it then you would really be opting to take
a loan and would really be putting yourself into much trouble since you would really be needing to pay it up with interest.

Save up and always allocate funds for emergencies since we dont really know on where things might be ending up and this is something that would really make yourself put on a hard situation.
We cant really be able to tell on where it would be going or heading with our lives and situations but we know that money could solve out with those things or simply it could
really be handled when you do have  that enough finances.

That's a brilliant idea, we need to get something doing, make an additional means of having income flow, there's a way we can get to whereby we will have enough money running, business flowing and things going well with our business and we won't have any reason to feel the cost of what we are spending in maintaining ourselves, business and other things we spent money on because we know that we will always recover any cost incurred on ourselves or business within a short period of time, unlike when we don't have a stable income and still struggles to make profits.

Yes, with how the economy is moving, we needed to have an additional way to earn money,

Having an 8hrs daily job might cover your needs, but most of the time you will see you out of budget before your next payday,
there are many factors that affect your finances, but having an additional source of income will cover your additional expenses and
will help you to save up if you are good at managing your finances.

If you remember that current economic conditions still tend to change and have not fully improved, it could indeed be very good if you consider saving in other ways besides saving money. But this option to save in other ways is only often used by investors who want to save the value of their assets into stablecoins besides continuing to invest in property and Bitcoin. Whereas people who don't like investing in property and Bitcoin will make their savings through gold if they don't like saving money in cash in their lives because of inflation or deflation that can arise at any time.

This is where the major work would be done, having realistic budgets. It defines you as per standard of living, what you can archive within a period of time, how you’re expected to raise the funds for these expenditures and when it’s expected to get exhausted. That’s way, you have a summary of what your circle would be and how to keep up.

That’s another one. At the very most, we are humans and as humans, we are moved by a lot of emotions. Some of which makes us depressed, feel under appreciated, feel we aren’t doing enough and just like that, you’re pushed out of the space of what you can do, should do or shouldn’t. Peer pressure or societal norms, a not to be caught in circle.

That’s some rule!
I haven’t really thought this through myself but, it’s definitely something worth trying out to see how my interest plays out. It just might get intense, can’t say for sure but, if this happened to have proven useful in your case, then it’s worth trying.

The fact is that in society there are still many people who have difficulty managing their finances, not because they don't have plans for the future, but they still find it difficult to control their lust, which always wants something that absorbs excessive monthly expenses. Avoiding excessive spending or being undisciplined in managing finances is very easy to say, but very difficult for some people who still want a luxurious lifestyle or are looking for luck to multiply money even though in the end they still lose.
Educating yourself needs to be done to apply discipline in managing finances in order to achieve a future free from financial difficulties. The most realistic thing is that when you need an urgent need, you don't need to ask other parties for a loan because you already have savings that can be withdrawn at any time.

You don't need to eat at those expensive restaurants if you can eat it in a normal restaurant, because if you are just earning minimum wage, then you don't need to eat at those restaurants. Don't be fancy, and you are right, don't buy those nonsense items that you don't need. It is really about self-control because, as others have stated, if you can't afford it, don't push yourself to afford it at that time; instead, work hard so that you can afford it in the future. Right now, because of the high prices, people are sure getting a budget on everything.

We all are more or less familiar with such situations due to recession and competition corruption, monetization has become a big problem these days. Also in a situation where the price of every thing is high due to inflation in the case of the country's economy as in the case of the country's economy, budgeting is done at a certain time interval to analyze the previous expenses and to create an outline of the possible income and expenses of the future just like in our personal life at the beginning of each month the current income is based on the expenses of the previous month. A budget should be prepared for the probable expenses of the month. And while budgeting focus should be on minimizing expenses and maximizing savings. Also it is better to invest along with savings investing in crypto will not affect inflation.

Every person has a personal financial goal which requires a person to take up the challenge of maintaining the money after working hard to achieve it. Because making money comparatively easy but keeping it for a long time is very difficult. If we can observe some things very well in this regard, then we can be successful in fulfilling our financial goals.

The first thing to consider is that we need to budget for an expense you've outlined so well. After that I have to spend according to that budget. The habit of over-purchasing should be abandoned.

Every month's statement of expenses should be checked to see if there is any difference or average with the previous month's expenses.

Saving money should be given the highest priority. However, in some cases, it is better to keep a separate fund for sudden emergencies. such as medical treatment.

The following efforts should be made to reduce the total expenses and if some one have foamily then every member of the family to reduce the expenses to help him. Otherwise it becomes difficult to achieve financial goals.

There is too much hope to live like other people so that it forces people to fulfill something that is not needed but as a step to balance other people's lives (Lust). Unfortunately people like this don't think about the impact of what they are doing but just do it and tomorrow we will think about the impact. Monthly income is actually spent more than income and they try to enjoy life on a lie, lifestyle can kill someone's life and if they are unable to get out of this condition they will actually be in debt.

Living a life above simplicity is indeed very difficult to do and would be easy enough to say, but anyone should try to do it because there is no other way than to save money and spend on things that are needed instead of prestige. Avoid any loans because getting involved in loans is the same as trying to add new problems to our lives.

I have learned advice from books about being successful. And there it is stated that the people we call rich have at least 3 sources of income. And to achieve financial freedom we need at least 7 incomes. Such as salaries, dividends, rental properties, capital gains and many other types.
I agree that we cannot rely on saving in the bank or FIAT because every year the value will be lost due to inflation. Investing is better than saving. And don't forget to keep preparing emergency funds if something unexpected happens.

That's as reference material that you can use when you intend to do direct practice because reading books might provide insight for us to put into practice. My question is how far is the impact after you have read many books that tell how to get out of financial difficulties? I think to achieve financial freedom you don't need to have all of these seven points because talking about financial freedom is different from the stage of achieving wealth. Savings are also needed as an anticipatory measure if something unexpected happens because if needed you don't need to sell your assets.

It's just that you can adjust the percentage of savings according to your desire to achieve a level of financial freedom or in other words to grow a much more developed investment. Savings are not productive because the longer the money we save will lose value and sometimes we only need to save a few percentages as a preparatory step and it is impossible to talk about investment or anything if someone does not have savings as a necessary step.

Sure, you do not need those things, however, people are living not only needing lives. We have desires, ambitions, self esteem and endeavour for realisation. We have to earn our place in society. And that is why we are doing a lot of things. Yes, we could not do it, but then our lives would look dull, savourless and boring. A person should strive for something, desire something. Only then does he or she feel alive.

what you said is very true, to achieve financial freedom sometimes what is needed is simple, namely in a way that we can manage expenses and can use money to save and invest. As you said, savings are a precautionary measure in the face of undesirable and unpredictable events. Besides, everyone has different finances, so only we can adjust our financial plans for the future ourselves. What we need to do is start the plan correctly and consistently so that our goal of achieving the desired financial freedom is achieved.

Yes, investing is a wise choice rather than saving too much at the bank, because if all the money is saved at the bank, you will lose because the value of the currency falls. In conclusion, if you have the guts, plus if you are smart about promotion, it is better to make money by doing business, such as selling online or offline. If you really don't have skills in the business field, what you have to do is trade and invest to achieve financial freedom.

We need to be a reader because readers are always leaders, in reading, we get exposed to some certain things that needs more of our salient attention, we need to expand our coast of learning and erase the limit to how far we can go in reading, in so doing we are getting more experience in a logical format through reading books and the ideas gotten from doing so, but I don't think we really have to engage into having upto seven businesses or what we do before we can be successful, this is not saying about diversification, but avoiding waste of time in doing other things unproductive.

Gold is for storing value, you can use it to store wealth so no matter the currency inflation your value is maintained. Bitcoin for cross-border payments, investments etc. So you are right, it depends on what you want. And it's true that people who don't like bitcoin investment also have their own views. They will definitely think that bitcoin has no guarantees, if gold is guaranteed.

But personally, gold is not an investment tool, but more suitable as a guarantor of money, the point is this. Suppose we have $ 2000, then we save $ 1000 in cash and $ 1000 if we buy a few grams of gold and we save it. In the future, of course the cash we save will have a lower value, but gold, the gram value will remain the same but the price will certainly be different. So you could say that saving gold is guaranteeing money/assets.
Meanwhile, bitcoin investment, I think if there was an internet apocalypse and all data was lost, hope would be gone, that's the only thing I'd be afraid of. The rest is the best investment in Bitcoin for a better future. That's just my personal assumption

Focus on budgeting and managing your money movements, both incoming and outgoing, meaning to say your source of income vs. your expenses. You need to balance and make sure to adjust.

If possible, to find an additional source of income and make sure that big part of it will go to your savings
and not just for your extra expenses, that will help a lot in terms of your financial capabilities, it's tough
but always doable if you are keen on finding more source of potential income,.

often external validation makes us spend money that we don't really need to spend in order to get recognition from friends or follow current trends, for example, when friends buy shoes worth $1000, we don't want to lose, we instead buy shoes that cost $2000, i often encounter traits like this in my circle of friends and if we continue to follow them then traits like this will make us poorer and get into debt.

The discipline of managing finances is not easy but not difficult, the important thing is that we have to control our desires to buy things we don't need, it's better if we invest the money in important things like Bitcoin or other assets rather than buy luxury goods which in the next few months will experience price depreciation.

1. Make a realistic budget

This one should really be that relevant or something that i would really be recommending considering that having a proper budget allocation would be always that ideal because you do already allocate
budget on a certain thing which you do already have the idea on what and where to spend those allocations which would really be basing up.Going excessively? Then you would be needing to
compensate and this would be through adding more income via investment or on having other jobs that you could do.

People would be finding themselves get overdropped on the time that they would be spending more on what they do earn and this had been the common mistake which needs up to be lessen.
We do know that there are certain moments or conditions in life which would be requiring that huge funds, this is why emergency funds is really that taking its role
and this is why you should know on when to make use of it.

For sure I only use many things like saving money for a winter season and much more. It gives me Courage and to do much more in my life. So saving is best option for me in this world.

But in the meantime, you should be disciplined with your spending if you are just earning the minimum wage. Yes, all of us have desires and ambitions that we need to gradually achieve, but that doesn't mean that you should make an abrupt move because your life is boring. In the meantime, to achieve those dreams you want, you need to have discipline in life, not only in finances, because how would you be achieving your wants if you were already broke.

I agree. Prioritize the needs first, before the wants and be practical (for now). If you have desires that you want to achieve then work on it, strive hard so you can turn your dreams into reality. However, if your current situation is hindering you to achieve whatever goal you have in life then it's time to do something that can help to change what you used to.

On the other side, to avoid the short of budget due to unnecessary expenses, before your pay day, list down the essential things (food, bills, transpo etc.) so you can budget beforehand the amount allocated for these expenses. Don't spend more than what you can earn to be able to save some money for the future. Discipline is important if you don't want to struggle financially. Much better if you can increase your earnings by looking for a side hustle and not just relying alone in your main job.

I agree that the financial sphere and life in general require discipline and responsibility. But I'm also sure that if a person only thinks about limiting own spending because he is earning a minimum wage, he'll never start earning more. Because it is always easier to sit and do nothing and think that you have no conditions and opportunities, and that if everything was different for you, then you would earn more and satisfy your desires. This is a passive position. A person must act, must look for ways to achieve what he wants. And not to complain that he has nothing. Because it will continue for him like this with nothing.

I agree with the first point. that's really necessary. Even some influencers who are really rich say that rich people are actually people who buy things they use, not just for prestige. that is their principle when they become rich. I also try to follow this style to save more on expenses.

I think the 5th point is able to represent everything. The first thing we have to do is calculate it, namely the fixed monthly funds that come from income and after everything has been described, we will find out how many plots of funds we can use to invest in the world of digital currency. My advice is to buy BTC with the DCA Method. Indeed, the impression is simple, but if we are disciplined and you won't feel it, if you collect a lot of it. If you can afford to buy now, it means you can get a big bonus in your work.

Effective budgeting is an art and a practice that goes beyond mere allocation. Financial skill in the present day necessitates a detailed, microscopic analysis of expenses. Consider Bitcoin as an example of the development of a decentralized global economy. The robustness and volatility of cryptocurrencies aren't just random acts but a reflection of wider macroeconomic factors

going overboard? It's a cute way to describe excessive spending. But let's joke about this for a minute. "Adding more income" is not just a light switch that can be flipped at will. If that were the case, wouldn't we all be enjoying a variety of income sources?

Although they have a use, emergency reserves are only a small part of a comprehensive financial plan. And, while I recognize your sentiment, I'd urge you to develop your awareness of the financial sector, particularly in an era where Bitcoin and blockchain technology are defining new paradigms

Valuing money over your luxurious way of life will affect you in terms of your financial capabilities, if you can control and manage
your finances the right way.

It's more on how you see the possibilities, if you have that chance to buy what you need and not what you
want, it will develop good control over yourself, more on self-will and good managements of your self
control, very usable to give you a better life in terms of financial capabilities.

Getting jealous or having envy into those people who are financially capable isnt really that bad as long you dont make yourself that climbing up the stars without having that action which it would really be leading into those things or acts which would really be illegal. This is why it would really be that wise that you should work hard and invest more or something that do talks about adding income source which is something that really be your target on doing so. There's no sense on spending money which is something that more than on what you do earn and its not something worth on doing so.

Always be mindful about your income source and the money you should spend should really be first on your priorities in life. If you do wish on having no struggle in terms of finances then you should work hard for it.
Getting envious is normal but if you dont act out and not doing something for good or better then you wont really be changing up your condition. The fact that the economic situation getting up more
worst then it would really be affecting you that badly if you do still keep on earning the same numbers or income for how many years. Try to make yourself enhanced or upgrade.

The ideal is when you receive money better to break it down immediately how much will be your needs like rent, food, clothes, etc. just the basic needs to survive including the expenses with the bills Next is the remaining money can be used now to your wants and savings, better if the savings is more higher than the wants, it's all about the future it's also for the current state of emergency you can have a budget and not asking for other people just to borrow some money.

Agreed, it is good to keep the fund as a whole than breaking. When breaking the funds be precise and never keep on breaking. Having the savings higher is the best choice. Beyond all this I personally see the spending based on what we have as the prime factor to keep things under control and have discipline on our expenses. When people calculate based on what we get in the future and making plans will end in debts.

Anyone could make a budget and can still end up end up not following through with it. But with a realistic budget and plan, following through on the budget would seem easier.
We all know what we spend money excessively on and if we could try and cut down on irrelevant things, that would be a start towards being responsible on our spending. I think a realistic budget, when planned right and followed up judiciously, it would definitely help curb unnecessary expenses reducing all the expenses and making some extra money left towards doing something better.

Desires are many and never ending. No one can ever fulfill all their desires. Even if we live for a lifetime, all our desires cannot be fulfilled. Therefore, those who keep their desires to a minimum live a peaceful life in the world. The more a person earns, the more his needs increase.

No matter how much we earn, first we have to meet our daily needs. Food, children's expenses, bills, all these things we have to pay anyway. After all these things then we have to think about our savings. By reducing some of our wants we can increase our savings and by revising our spending we can increase our savings. Every person should have savings to deal with emergencies or any future situation, so it is better to prepare yourself for such a situation, and this is possible only when you You can save from your expenses.

There are some important checklists that we must follow in order to run well in our day-to-day life. We are prone to many financial problems especially when we look for ways to break even more money than we earn. However, if we don't save what we earn and spend it all and live a life of luxury, it will never bring us success in the future. Keeping track of our accounts and spending is the key to good money in the future. Spending money unnecessarily will not change the key of our life and we will lose the important things in life. That's why we should decide not to live in luxury but to invest some money and save later so that future success will come. If we can't do it in the evening of money, we just spend it, then this need will not be exhausted throughout our life, but we will need it, and we have to follow all the rules in the matter of money.

I think some people spend a lot of money because they want to reduce excessive stress and depression for example by shopping. As a result they often buy things they don't even want just for the feeling they get as a result. But this will not be effective, because in stressful conditions you have a very big opportunity to lose control of yourself. To avoid such activities, try to replace them with more positive activities, for example by listening to music, sleeping or taking a trip to a beautiful place.

Everyone should know how he will spend his money before earning it. It is much easier to spend money than to earn money, so if we do not spend money in a controlled manner, no matter how much we earn, we will not have any money left. You must buy the things that are necessary in the world and it is better not to buy the things that are out of necessity that will last you a day. If you have a habit of eating in restaurants with your friends, then you have to change that because the restaurant meals are usually very expensive. Also, if you have 4-5 friends and you pay the food bill of those four or five friends, then your restaurant bill will be a lot. Money will go away. Maybe your friends will speak differently to you some day but develop habits that will bring good things in your life. Money is worth a lot in life, so if you spend money unnecessarily, you will understand the value of money when you need it a lot.

Don't get into the habit of doing something that is often said to be "bigger a peg than a pole". I am a believer that when someone has more income, then their expenses will be greater than someone who has less income. At first glance, maybe we won't find anything wrong with it all, but when we are more careful, we will immediately find the location of the mistake. For example, we have an income of say $ 300 in a month and the total of all our expenses that we can combine is $ 30 or 10% of our income. Then when we can multiply the income we receive to $ 600 for example, how much money can we save? I also thought at first it was around $60 or 10% of our latest income, but it turned out to be wrong because that means we are also wasting what we originally spent $270 was 2x as much.
Things like this are like trivial things, but if we can change this habit then the positive impact will be bigger. And I can also realize things like this from experience and also learn from reading and watching several videos that are spread on many social media.

In principle each person must have different income and expenses so that in order to live frugally and achieve financial freedom, they also have different levels and parenting styles. Therefore, only we as individuals know how to live with discipline and spend money according to the portion needed. Make life a priority in achieving financial freedom, manage savings or investments and you can also start a small business to increase your income because when many sources give us profits, even if they are small, it will be easier for us to manage our finances.

A plan is a basic framework for us to start something, for example when we want to run a business, what steps do we need to take first, and vice versa with investment. When life has a plan, it will be easy for us to achieve because we know what we have to do first, everyone has to look for it because in this world nothing comes for free, especially when it comes to financial freedom. If people do not have plans and skills to achieve everything they want, it will be difficult for them to make it happen.

I think the buttom line here is to set yourself up nicely because there are still people who enjoy the luxury of eating out and eating with friends even in the economic meltdown. It is all about what financial capacity you have. Of course the example you gave is apt for those who are going down in finance or having dwindling financial returns so they can cut down on cost and follow a more prudent lifestyle and that includes to live a secluded lifestyle. When you don't have much financial capacity city then you could start avoiding people and friends.

Wow the 24 hour rule seems really amazing. It does make sense that it’s all about the adrenaline that pumps us into doing things that we were not supposed to do in the first place. I definitely got convinced with this point for sure. Recently I have started to have 50-50 shares on Bitcoin-Gold. I mean holder of Bitcoin but I mess up things when bitcoin becomes very volatile at a times. So to back up my investment and make it more stable I have started buying digital gold too. It secured my investment with stable course of development. Plus both of them make sure that I am saving plenty amount of money for my future life.
My expenses would go in the list after I have made the above said share. It does help me.

Yes, that's right, just like the title above, avoid excess and be more disciplined in using money. Yes, it's like nothing happened to them even though the economy is in crisis but they still have excessive habits there, with some luxuries as you mentioned above. But yes as you said it will all go back to the financial level of each - each, if they are indeed from a well-off family and even have above-average abilities then maybe by acting excessively it will not affect their finances at all, they may already have large savings for the future. But for those of you who have below average finances I hope you don't do the same thing as them, okem I understand that everyone wants to live a glamorous life with full sufficiency in their lives, but you also have to be aware of your current financial situation.

So it's better as you said, avoid overspending, use your money very wisely and don't do things that can make your expenses even greater. Living simply is not bad, you can live like everyone else when your finances are back.

Many people still remain quite flexible when it comes to budgeting, and it often happens that one's expenses tend to exceed their budget limits. Changing someone's habits isn't easy solely through budgetary constraints; it truly depends on human desires, how much they crave something, and how much they're willing to spend.

I've tried implementing budget restrictions for my weekly shopping several times, and what often occurs is exceeding my budget. One of the influencing factors is the strength of one's intent and the discipline to make wise decisions.

If you have a spouse, seek their assistance in being a reminder of the amount you're spending. A spouse plays a significant role in improving financial matters, and they can even be a catalyst for frugality within the family.

In past there was trouble in budget a money because at that time all people were involved in only a single job but presently everyone rushes towards online work as a part time job because they know that budget money will be only possible if they do main job as well as part time job. Lots of other people are also part of this world who don't have any job and now they are unable to pay bills and eat well.

What I think is that either they are not familiar with online jobs, trading and investment or may be they are preferring government jobs only. Therefore under these circumstances they just focus on the initial days of month as they will receive payment and fulfil all requirements of family.

Budgeting money is not hard but For it a specific planning and hardwork through participation in online investment and setting a business is needed.

Not really that totally be depending on how much job you do have but rather it would really be depending on how much you do earn. Even having that single job but it does really pay well or big enough to sustain

your living then you wont really be tending to find for another one job or other income source which you do really already find out that it was really just that enough for you. We know that having multiple income source does really give out that kind of benefit on which you could really be earning more but it would really be just that on the same sense on having a single job but it do really pays equal on having a 2 job.
Therefore, you would really be that confident that you wont be needing to find another one which it would really be just that a common approach for someone in terms of income making or finding some source of
money or stream income flow.

Expenses is really that a normal phase in someones life on which it would really be just that common that spending is part of living but it should really be handled with moderation if you dont really like for things to messed up. You would really be needing that kind of management and control if you do want on having that good way of spending which it should really be that only enough and not really going on excess because once you do then this is where problem do starts.

It usually happened, even in this type of economy people continue to spend more compared to how they earn their money, with a kind of gestures it will be tough to cover your finances.

Controlling everything in the right sense and in the manner of saving things for a better future may help
to use your money from what you need and not for not what you want, it's your knowledge to save up
some of your spare and make sure to have that limitations in terms of overspending your money.

You know, even up until this point, a lot of individuals still find it simple to spend money even though they are aware of how difficult it is to make a living. He is paid well, just like someone I know who works in a call center, yet he has a lavish lifestyle.

As a result, he constantly complains to me about his financial situation since he claims he has numerous high-cost bills to pay, including his energy bill and other expenses. However, he is unaware of the outlays he incurs for himself. Therefore, he continues to exhibit poor money management, which he could actually avoid if he knew how to do it.

Typically, one's occupation tends to steer them toward diverse lifestyles. People often prioritize their social image over embracing a genuine life that aligns with their true needs.

I, too, have experienced being in such a position, where changing jobs to one with a higher salary does not necessarily lead to wealth, as long as we cannot control our lifestyle. Opting for a simple and balanced lifestyle is the wisest choice, where individuals need only enhance their attitude to earn respect from those they communicate with. Instead of amassing wealth to finance luxury items, it is better to cultivate courtesy and friendliness toward others. That is what will attract genuine friendships.

The wiser you become in managing your lifestyle and finances, the slowly but surely your economic situation will improve.

I find it amazing when I see people adjust during hard times but I think that a point will come when you will keep adjusting to a breaking point that you cannot help but to accept that reality. The number 1 OP explain is really needed whether things cost or not but with the way price of things are skyrocketing everyday, one will sit one day and start crying because it's seems things are getting expensive everyday.

One of the things to cut expenses is to buy in bulk, this has help to avoid been cheated because I noticed that buying items in small quantity sometime is not favorable like when you buy in bulk quantity and it also save you sometimes when you go back to store to buy the same item only to be told that it has increased in price. Having them at bulk at home save you this stress.

There is this thing that we call in budgeting and if you don't do it then you're like a rapper that has his own freestyle.
Who's been doing the freestyle strategy in budgeting? Like you don't allot budget and you're spending randomly together with your needs and wants?
It's time for you guys to start making a plan and setting yourself on how much you want to spend. Because if you're not careful with it, those little spending habits that you've been doing, it is going to make you realize that from those little amounts when combined then it makes it quite big just as a sinking ship with little holes.

In addition to the replies, I believe this topic is a kin to this article: How to Stop Spending Money (https://www.ramseysolutions.com/budgeting/the-cure-for-excessive-spending).

In this article, the content tackles the 5 Reasons we can’t stop spending money which are listed the cause as:

• Social Media
• Not Tracking Your Spending
• Shopping to Feel Better
• Lack of Self-Awareness
• Paying With Plastic

then is given a solution by the following list on how to stop spending our money like:

• Know what you’re spending money on.
• Make your budget work for you
• Shop with a goal in mind
• Stop spending money at restaurants
• Resist sales
• Swear off debt
• Delay gratification
• Challenge yourself to reach your new goals

Explanation of each on the list is stated on the link given above.

According to the title I don't think one who has lot of money can resist that temptation not to spend.
In as much as you try your possible best to control the way you throw cash on things just to leave a comfortable life you'll still have that crazy voice in your head say "you can still get it in less than 1 day".
To me I think is only those who knows how hard it is to get those funds are the ones who can have that discipline and avoid over spending, a poor man can't start spending cash lavishly knowing quite alright that it will take him like 3 months to get to that certain amount, like that's not possible for someone who doesn't have much.

Isn't it a natural cycle that should occur? Where the wealthy should promptly spend their money at stores or in the market so that money can continue to circulate for the benefit of others. If the rich were to save like the poor, the flow of money would slow down, causing economic imbalances. We are indeed taught to save and be frugal from a young age, but I believe that's circumstantial.

Wealthy individuals, please be generous, and those with fewer means, avoid greed. If the world operates in this manner, I am confident that everything will be just fine.

Accumulating money is not an effective way to protect the value of that money, therefore it is better to spend money to protect its value, just like investing, so that the money in our hands is only limited to supporting life's needs, and let the money we previously spent work. that way the value will not shrink and we will even make a profit in the long term. But to achieve this, of course we have to have knowledge before spending money in the right way

Sometimes we people, even though we know what to do in managing our money to be budgeted, take care of it because we think that we have worked hard for it, so maybe it's not bad to give ourselves a gift. Sometimes we don't notice that we will also be affected in the end. Although we already know the guidelines that should be followed as given by the OP, it is up to us if we follow them. Which is also where we often don't use the discipline on ourselves, so the result is that we always fall short of our budget. This is the problem that, until now, the majority of the community has been facing here in the industry that we live in, the crypto space.

Do you know that no matter how you tried to set a budget must still encounter additional expenses why?
Because you can't predicts when you should be sound health or ill health, at this point if you expenses were calculated or brought out for the month and you removed all then keep the savings do you mean that you won't take care of your health or that of your wife and children?
No you must in as much you have already involved yourself in family way so you spend when you don't want to spend your money, and sees more problems comings either from your personal family or from your in-laws family's provided that you are married you must encounter expenses.

Taking care of money is both an art and a science. There are two sides to the position we're in. Of course, being praised for our hard work is one reason why we treat ourselves. On the other hand, money matters when you have a budget. Lots of the time, the gap between these points is caused by spending money on feelings.

This fight is made worse by the crypto business. It's tempting to take risks because of the price changes, the chance to make money quickly, and the stories of people who got rich. Even though the OP gave some tips, the most important thing is to make it your own. People need to make sure that their financial plan fits not only their pay but also their personality. Figure out how much danger you are willing to take, and then change how you spend and invest your money to match.

It's not bad to give yourself some reward after all of the hard work that you do. But this is time that we become vulnerable because we think that we deserve a thing or two.
We're doing much for giving ourselves the reward we think we deserve and coming to the point that there's nothing left anymore from the savings that we have or from the salary that we have just received.
Not against to those people that always reward themselves but if you're looking into your situation, you still have to deal with some other days coming and that's why there's the term about saving for the rainy days.

Thats how reality works nowadays on which people would really be trying out their best on making their looks and appearance to be pleasant on publics eyes on which they would really be giving out that priority over their
actual needs which is something that would really be just that not an ideal thing to be done by someone. Always set out on priorities on whats important and dont mind much about establishing your image towards the public because it wont really be giving out such good result on the time that finances are starting to deplete out. Expenses are normal specially if it get in line with your daily needs but on the time that you are spending that much or lavishly on things which arent supposed to be spend then this is where things or issues do really start.If you dont have that good control and discipline then sooner or later you would really be finding out yourself on struggling on making budget or allocation with your income and if this one would continue then its likely that you would really be ending up on having tons of loans just to cater out your other expense.
Peoples condition or situation would really be always reflect out on how they have done things or situations that they tolerate despite of being bad or not really that recommended at all.

Yes, that's right, don't be fooled by today's financial system. "Inflation is man-made," so with current technological developments, we must be able to learn more deeply about the world's financial system. I just found out after being on this forum that to fight inflation, investment is the right choice.

It has been proven a lot that if we save in the bank the value will definitely decrease, and when we invest, for example in buying land, in just two years the price has increased by 15%. However, it remains the main choice for all of us to invest in Bitcoin for a better future. So one way to avoid overspending is investing.

Both land, gold, and Bitcoin are excellent options for preserving value. It all boils down to our skill in diversifying. I prefer to spread it across various investment instruments to make its value more stable.

However, in this case, we also need to be wiser in spending the money we possess. We should avoid selling our assets too frequently to cover expenses that are over the budget. Planning and commitment will help us manage our finances better.

In our current world we are being endlessly bombarded with requests for our money and a lot of it is in return for junk. So many sites now are trying to pivot customers on to a subscription model, even if they offer very little long term value, so that is one thing to look out for and reduce - subscriptions. Many small amounts going out each month eventually add up to a big sum when you look over the whole of a year. Keep an eye on your expenses and constantly re-evaluate if you need everything on there, then cut out the parts that you don't need any more - music, tv, graphics programs, all these kind of things. Waiting 24 hours is definitely a good idea, because you can find a lot of your sudden buying urges are spurred by manipulative marketing tactics.

What we need to understand first, we have to continue to train and build habits. One thing that can help realize this habit is that you have to have a dream. because to achieve your dreams you have to be disciplined. Many people complain "why can't I change" to me it's because they don't build habits.

As a result, those who cannot avoid spending and cannot be disciplined will find it very difficult to build new habits, because they are trapped in their bad habits. So it is not surprising that this type of character makes it difficult for them to become rich because they will continue to be poor, in fact they all have the same abilities. People who have discipline master good habits more quickly and can be financially free than those who have bad habits because they have to overcome many obstacles. In the end, money is the same as time, if it is not managed it will just run out.

It is a good thing to do but it is easier said than done especially for those in the poor strata.
When they have a lot of money and get any kind of profit they will try to do it to be hedonistic first. The reason is simple, they have never tried it so when they get a lot of money or their fortune changes for the better they will try to satisfy themselves with what they have never done before.
There are many instances like this where their frenzy just makes it harder for themselves.

3. Break down luxury expenses

One of the most common reason on why people do get overdropped with their budget is that they are really that a fan of buying things which arent supposed to be bought.
Its not bad to buy your wants but it should really be moderate manner on which you shouldnt really be going outside your budget and would be always basing up on the money that you are earning or simply with your income because if you wont then for sure you would really be ending up on having that financial crisis.

Discipline and control would really be that relevant in times like this but if you do have tons of money and something that could easily be patched up or easily refilled
then this wont really be an issue but for those someone who dont have that sufficient income or just really that enough then there's no sense on making yourself
that easily spend out money like there's no tomorrow.

Agree to this, instead of thinking ahead where finding how money to work for them, they will surely try things that they never experienced before,

consuming money and not thinking that chances to spend it all and waste it to something that's not important will take place, either they don't have that knowledge or they choose to consume the money in a luxury way that they never have before.

Thinking ahead of time is very crucial in limiting your expenses, making sure to find business or investment or continue
to stay living the way you used to have will prevent you from overspending your money.

Sometime when budget are set their can be emergency issues that can occur that we warrant you to spend more , but at still even if we spend more than our budget because of unexpected challenges setting budget is good. Their is a difference when budgets are set and when we spend without budget.  When we have a budget of money we need to spend for sometimes it helps  in spending less no matter the challenge that comes up. Money is spent anyhow when their is no budget and plan on how money should be spent.

Managing finances and being disciplined in managing a financial budget to meet our living needs does seem easy when we talk in theory. But direct practice and applying it to our own lives is not as easy as it seems. Because all of this involves emotions and the influence of the environment and our habits in our daily lives. So if we are used to living in luxury then of course it will be difficult for us to suddenly change to a simple life.

We have to do it slowly. And yes, sometimes we also need gifts for ourselves to build greater enthusiasm for working and earning money. But it doesn't have to be done continuously. We can do it every once in a while in our lives. like at important moments in our lives such as birthdays or something like that.

financial management theory is easy to understand. But emotional management is the most difficult. Because sometimes the urge to buy something is difficult to stop. Impulsiveness is not good and as much as possible we should avoid it.

I am big on rewarding myself. It is like the dopamine release for me for a job well done. And it is something I always look for to. Of course moderation is key. Only people who are indisciplined go bankrupt trying to reward themselves. It is totally unnecessary and financially reckless.
To recap, the reward you give yourself should come last after you have sorted and fixed everything other thing.

Building habits of being frugal in life is one of the best ways to avoid over spending. When you're living according to your means then you're doing it right and you're disciplining yourself. The problem with this current generation is about flaunting in the internet and thinking that it's the standard way of living and that even if you're doing it beyond your means, you have to go according to what others do. But that's wrong, you don't have to be dictated by others' way of living as you're living for yourself and that's why when you're too dependent on the life of others, that's what is going to make your life harder. Just live what you can afford to and just do things accordingly while trying to reach your dreams with the current habits that you have and you're going to live happier and aware of your spending habits.

For me consistency is my problem,
Yup I know why and where my money is draining or why I am having trouble saving up.
I could budget when I needed but when I have my salary or have my money on my hand I tend to spend more than I needed.
Don't get me wrong I am not addicted to anything or have some vices, it is just that I tend to buy more foods than what I really needed.
For example if I know that I have a tight budget till my next pay day or salary I would buy some food and cook it for my self to lessen the expenses and I would choose the cheapest frozen or process food, but when I have money I tend to order up and buy the foods and buy whatever I want to eat without hesitation or looking at it's price.

Investing as a way to protect asset values from inflation, saving money in the bank is not the best choice in the face of uncertain economic conditions that are currently collapsing. You need to ensure that you are always disciplined in spending too much money, many people are smart at making money but don't know how to save it safely and are immune to inflation.
Investing is one of the best ways to protect value, buying land, gold and houses might be possible to keep the amount of money growing. Bitcoin investors will never miss this moment to collect some bitcoins while the price is trading at a cheap price, they will make multiple profits when the price rises again.

It is very unfortunate for those who do work to earn income and they cannot use it well due to their lack of understanding about how to manage their expenses, so it is very necessary to know about financial management so that we can make the best possible use of what we have earned from work If we can manage our expenses well then we can enjoy them when we are no longer able to do our work.
Before making an investment, it's a good idea for us to have good knowledge of what type of investment we will make so that if we do it, we won't experience losses later Indeed, we cannot avoid losses, but at least if we experience losses in investing, we can still recover later.

Just try to spend on what you think it will be enough for you , buying excessive food might make nothing left to be in your sqvings, just buy what will be enough for you then save the remaining. Savings is not easy, it takes much discipline to succeed in saving money, one just needs to be conscious on how money is been spent because if you are carried away you might just end up spending all the money that you should have saved. Discipline and consciousness is the secrete in making successful savings.

Because basically to become someone who is rich is not as simple as expected because we also have to have the mentality to become a rich person so that we become rich.
Not to demean the poor in this case because I am also still in the middle strata line and sometimes still have financial difficulties but the point I want to make is that the mindset to become rich is in fact something that is difficult for poor people to achieve because as I said before, They when they are able to become rich in the end have thoughts about greed and momentary pleasure so they do not hesitate to try everything they have never felt such as eating at high prices, shopping that is not really needed or even trying to live glamor and habbit because they have never felt it but they do not realize that it is precisely things like this that make them difficult because their ambition and desire are too explosive they forget the important point that money will run out.
So in this case it is important to have a good mindset that must be instilled in ourselves even though we are poor people but we must try to still have good self-control so that we are not carried away by momentary emotions.

Self-discipline in holding oneself to stick to the plan that has been made is not easy. And I understand that sometimes we always go outside the financial plans that have been made. And habits like that are not good. But yeah, I was also in a phase like that and it made me wonder a little about what was happening to me at that time. But I tried to change my life and my discipline slowly and it worked even though it took some adjustment time. Because it's all about habits and well habits are hard to change. But that doesn't mean it can't be changed.

At that time, I sometimes spent more than planned. For example, I intend to buy 1 item at an accessories shop when I enter. But in reality when I left the shop it turned out that I bought more than 1 accessory. Sometimes I laugh when I remember what happened at that time.  ;D And yeah it's about discipline. So I understand your condition @Gideongono

Buy what you need and always check your budget before spending. It's best to work on it to make sure that you will not be short in your
next month's budget, over spending not just affecting your budget in that month, but also in the corresponding month.

Better to assess your money movement, there's always an issue if you don't check your capabilities
and just throwing your money when you receive your paycheck.

If we do not have a list of monthly expenses then it will not be possible to block our unnecessary expenses every month. Spending unnecessarily is a big problem for a middle class family. We have to spend according to our income. It's not like living a life of luxury all the time. When you are in a bit of a financial bind, you must be calculating. In many cases, it is seen that in addition to managing the family, he spends some more unnecessarily, among his unnecessary expenses may be his habit of taking soft drinks or alcohol or eating in restaurants, but these are great means of spending money unnecessarily, we must avoid these things. If we have a habit of over shopping, we need to control this habit to save our money.

I think the easiest way for those of you who want to avoid excessive expenses to save your money in people who can manage your money, for example if your wife is good at managing money then trust her to manage your finances, in my opinion the average woman is good at managing money, if Do not have a wife, so the choice is your mother, it's much better for those of you who cannot control your desires.

With a note that you know they can control finances, if they are the same as you I think you only have to try more to discipline yourself in managing finances.

The basis is that you have to be disciplined in using money only as needed and this is of course born from the awareness of each of us if we want to save money in the long term. But there is a little advice from me that might be much better than just saving money, namely learning to save assets such as Bitcoin or gold if someone still likes gold today. Because saving money in the long term will not be very profitable apart from only saving ourselves from potential difficulties that can occur in life.

In general, Bitcoin and gold are also obtained with money, but this is done when someone already has more savings in the form of money so they can use some of it to convert it into Bitcoin or other assets such as gold. So that he can make more profit from his savings efforts by investing in two assets which are still quite valuable today, so buying food for consumption is of course highly recommended, but if it is bought excessively it will certainly be very wrong because it is a wasteful effort that is very useless.

A must thing to be done but lots or tons of people who had missed out this stuff and do end up on spending more than on what they do earn which it would really be resulting into a disaster.
Proper planning when it comes to spending is really that crucial because you cant really just make yourself that spending like a mad man on a single day and end up on being poor on the other day.
In order to survive then this life is really just like a race or simply a marathon on which it is really that survival for those who do face up on day to day challenges. This is why making up some wise decisions
and proper planning are the ones who do really be able to do so.

Dont let yourself be ending up on sleeping on the streets just because of the wrong decision you had made. People do really make out learnings on the time that they would be experiencing unfortunate events
or those devastating moments on their lives. If they wont really be changing up their behavior then this would really be ending up on a lifetime regret and dont let
these things happen into you.

Worse things like this can happen if you failed to balance your budget, overspending your money can lead you to a certain thing that you will regret after, keep yourself from what you need and not with what you want.

A basic principle that will allow you to adjust to the budget that you can have in a daily or up to monthly
expenses. With good money management, there's a chance that you may be able to save and after that, have
a good investment to add up with your savings.

It’s essential to list all your spending in the month,So it help you to short the unwanted expenses of the month.If you figure out the unwanted expenses,then you can easy start of saving money.Mostly people use the free money for the entertainment like social drinking,gambling,clubs and parties.But using the free money without saving is not recommended by any economist.Most of them advice us to save atleast 10 percentage from our income.This ten percentage of income saving will help you at the very hard situation of the life.

Agree on some point that in speaking of spending something for your wants isnt bad as long it would really be in moderation because people do mostly ending up on spending unrealistically or something that really exceeds out that particular limit on which it did come into a point that it is really that not ideal at all on having that kind of spending.

You wont really be getting or making any savings if you do have that kind of spending behavior and its true that regret do always come at last and not something you could encounter on the front.
This is why before you would be able to experience this then better cut it off before its too late. Regrets do always happen in the end and if you arent that mindful then sooner or later
you would really be having the taste of it.

Be sensible your spending and always prioritizing on whats needed and limit out your wants spending or something which it isnt really that important at all.
Life is like a marathon is on which the one who could really be able to sustain and survive for longer wins.

People should learn to cut back on their excessive spending in today's global economy to prevent running out of money and experiencing long-term misery from being unable to provide for their families or themselves.
Following all of these guidelines you've laid out is a method to at least get by in this terrible world economy that keeps people in poverty.

Such a fact. We are constantly excited to get new items, but when we actually take the time to do so, we discover that the excitement has subsided and that we are no longer desperately in need of them.

One major way i cut down my expenses as a single person staying alone is by purchasing enough foodstuffs and provisions at home, that way i always have food to cook and it saves me the stress of buying already made food from outside which is obviously more expensive than cooking at home.

Is that really going to help you reduce how you spend?
Are you trying to tell me that you only eat and eat with out paying bills, changing your clothes or even going out with friends?
That alone has made you to spend more.
If you're reducing how you spend as a single guy as you say, why not check how much you spend in a month and you slash it into two, save the other half and make use of the other half.
Because from all you said is like you eat a lot and that alone would make you think of your stomach more than things around you. Single guys do think of spending much on themselves just to look more attractive, so your plan isn't going to help you out.

Here, many traders lose, especially beginners. However, high levels of excitement arise if as soon as someone enters the market, the price set bid immediately goes UP, which is the most fun, but if BTC continues to correct, yes. The science of patience must be used a lot and the world of digital currency is the place where it is easiest to assess a person's mental and emotional level in trading because psychology here really works.

That sounds great; I'll give it a shot. Moreover, I believe it all comes down to discipline. Self-discipline is the key to personal growth because improving your financial management skills doesn't happen overnight. Mastering discipline can be challenging, as it often involves reigning in your impulses. However, with consistent practice, mastery is undoubtedly achievable.

If we have people we can trust to manage our finances then of course it is a good idea to ask them for help in managing their finances. As long as they are people who can be trusted and are good at managing finances. And one more thing, they must be the closest family members to us. As you said, namely like our mothers and wives.

But as you said, if we don't have someone we can trust to hold our money and manage our finances then of course we personally have to start learning to be disciplined in managing our finances. we can start from basic things like
✓ Start making plans for the goals we want to achieve with the money we will collect.
✓ Start determining what should be prioritized and what is unnecessary.
✓ Record every money that comes in and goes out.
✓ Observe all our financial activities at the end of the month and the like. So that we can fix everything that needs to be fixed later. And make our financial planning more mature and develop better.

The problem at this time is that most people around the world are starting to get up again because the pandemic has been lifted for more than a year, so the savings for people who don't have enough income for a month still fit the small income they have for their family that is supported.

Therefore, accumulating is quite difficult for people who do not have enough income because they lack a source of income. Especially if the family he supports is large, you know what he means. Although I agree that we should really be conscientious about spending, that's true, and I agree with that a lot. That's why it's hard to budget when there's not enough money for the family we support.

Quite basic, and I think it is worthy of our concern to start managing finances from the basic things as you mentioned above, do not have to be in a hurry and perfect in managing personal finances because it will be boring in if you have a lot of pleasure and Waste in the financial world, slowly and apply one by one the target.
Because basically we also need to understand it before being handed over to our wife, and we can also control it.

But it seems that many of us do not care about managing finances let alone basic things, on average people are more focused on the size of income compared to the financial budget.

On the other side of it, there are also instances that instead of saving your money, some people tend to use a credit card, meaning to say
that before they can have the money, there's already an obligation that needs to settle.

Things that also needed to avoid in terms of overspending your money, if possible to avoid
better not to deal with credit card, save and just go with what you need and what you like
principle.

I mean if it's something that would yield you money anyway, even if it's just the prospect of earning money (except for gambling) I don't think the 24 hour rule even applies to this. Especially if it's time-sensitive like trading and investing.

I say that this 24 hour rule is only applicable to stuff that don't really yield you anything down the line, like the newest iPhone, the latest Playstation, or whatever you're planning to buy that wouldn't realistically yield you profits in the process. You have to think it through and decide whether you really want to buy it. if your mind remains unchanged even after a week (I use the 1-week rule) then go for it and buy it cause at least by then you could be sure that it's going to give you satisfaction/happiness.

It is tough to save money these days since there are too many bills to pay, and if you have children, how do they manage with all the expenses? It is not easy for everyone. You make plans, and then additional problems emerge from nowhere. If you have a good wife who manages money properly, you are fortunate. The majority of women in this generation do not want to work because all they worry about is the male addressing all of their problems, which causes the man to be unstable.

Life is getting more difficult these days. Even if we are minimizing our expenses as much as possible we need another source of income aside from our regular paying jobs.

I believe that having children is a choice so people should also take it seriously. There should be a family plan before considering having a child.

I disagree that the majority of the women in this generation do not want to work. Maybe it is common in your place due to its traditions? Here in my country women just like men go to school and take their favorable degrees to build their careers. So most women here have regular jobs or businesses especially during this hard times.

I don't even like seeing a wife who works too much if she already has children and they are still very young, because small children still have to be taken care of by a mother and father. But it's different when the child is older, because the urge to spend will also be greater so a family needs more income for a stable life. And women also have to work to be able to meet every need that may increase when they start having additional members in their family, but personally I also don't like women who basically expect all problems to be solved by their husbands.

Because a husband sometimes also has limitations in solving all the problems that arise in his life, and because of this he also needs the help of a wife or family to solve every problem because most problems in the household start with the small amount of income that a husband can get. So every problem that arises in life will feel lighter if we solve it together.

I completely agree with you. It's really hard to save money these days especially if you're living in a developing country where everything is high cost and where your salary is not enough for a living. It's tough to manage your finances, if in the first place, you're only earning a meager salary. That is why we have to detach ourselves from the idea that men should only do the work, especially if you have children, you must work together with your wife in order to meet your expenses which will help you to avoid doing over expenses.

Just to add on this one, one of the things that I practice to avoid over expenses is I have a monthly expenses checklist which allows me to keep track on my expenses and helped me to keep everything organized as well.
 

On what basis do you say these things to women? Are you married? And if you are married, who takes care of the children, who takes care of the housework for you? If you help your wife do those things, you can complain. Otherwise, if you just go to work and leave everything else to your wife, you are not qualified to criticize your wife.

I am a married man with 2 children, I agree with you that saving is really difficult, but if you have the courage of a man, it is not difficult to solve. And I've seen what my wife has to endure so I don't think women today are as lazy as you say.

All these sites require you to be patient. Crypto investors or people who trade need to have several times more patience than a normal person. Anything can happen in the market at any time if we can't have maximum patience at that time but later good time will come but we can't enjoy that good time. If we find ourselves lacking in patience, we can do something different. As we invest or take trades we can spend the next time in some other way. If we don't have anything to do outside of all these tasks, we can pass the time by playing video games or hanging out with friends so that we don't have to worry about investing. If we can continue in this way for a few days, it will be seen that at some point we will have patience.

The older, of course the more difficult it is to continue to live where the needs are increasing because of the development of the times, including having children and so on which is a burden of expenses, it is a fact and it cannot be denied.
But difficult does not mean you can't, you must have the ability and knowledge to how to position your budget, unexpected costs must be a concern and it must be in your budget.

The best way today to increase income is to work with a wife, if indeed your wife is not wise in talking about family finances I think she before marriage does not talk about finances with his wife so he must accept the fact that his wife could not be a friend in talking about finance who can only be acts to the husband who makes finances unable to manage well.

If you take this step to save yourself from wastage of money, you will definitely be somewhat safe of your money. We often do a lot of things with excitement when we buy things that we want and leave them at different places later to no avail. We waste our money by buying all these things and throwing them in different places, so it is very important for us to be aware of this so that we do not have to waste money later. One must take 24 hours before purchasing an item so as not to overexert the item. When you have 24 hours to think about buying something, many thoughts come to mind and if you can live your life accordingly, you can avoid spending money. For those of us who spend a lot of money regularly, if we save that money, it will help us a lot in the future. And what money we use to buy things that we don't need in our daily life, but to invest that money in something that will be profitable. I think investing in crypto with the money of things that will not be of any use will give us a good profit in the future, and thus we can prevent spending our money.

Good point, even husband tag as a provider it doesn't mean that he should only be the one that will shoulder everything,

a wife can help in terms of trying to find ways to earn extra, though it's not an obligation for the wife but it will
help the family in the situation like this, especially if you have kids that you both need to take care, expenses
against the salaries are really hard to budget, but with good combination or good understanding of the situation
family can continue to live as content and happy as they want.

When you start planning on budgeting first you have to set first your savings since it's the main base of your financing and the rest or half of your money depends on what are you going to do it's either you will invest to make it double or put up a business.

And actually, before that, we also have to stabilize our income first. Because setting a good budget won't be of much use if our income is uncertain. But if we feel we have a fairly stable income then setting a budget and implementing it becomes easier. Recognizing the types of needs and classifying them based on basic and additional needs will make it easier for us to manage our financial expenses. It's just that we also have to think about our savings and investments too. In fact, we also have to make a budget for a reserve fund or emergency fund which we can collect slowly every time we get income.

You are right that without having a stable income it will not be possible for us to be able to manage our expenditure budget, so having a stable income will make it easier for us to manage our expenditure budget. Being able to group together our needs and our desires will be very good for us in managing our finances because if we cannot differentiate between these two things it will be very difficult to avoid excessive spending. If we can manage our expenses well, it will make it very easy for us to save and invest so that we can get profits from these investments.

To avoid overspending, you must first identify where your excess spending is coming from. When are you spending too much, and for what purposes? Answer these and more questions to yourself, then find the answer, list it out, and make a budget to avoid them. Just be aware of where you are spending and why, and then you can easily make decisions. Just being aware of your spending is the solution to this problem. You don't have to be frugal, but balanced. Even there are people who are stinging. It's also not very impressive, so in my opinion, spending too much or too little is not advised. Making money is not the only way to live; you can spend too, so create a balanced budget.

   Spending is bound to happen but overspending is not advisable. With the current economic situation, we ought to be watchful of how we use the money that we tried hard to acquire. Truthfully we make money to spend money but we just have to be careful in the things we spend on. We should put in our scale of preferences in the spending plan and for every money made, we shouldn’t neglect drafting out a budget. I believe these two would better help to curb wasteful spending. No doubt even with the budgets made, there can still be occurrences where we tend to use extra for unforeseen circumstances that may occur.
    We should learn to place our priorities right, you should weigh your wants and needs and be able to predict which is more important to fulfill at that moment; it’s called preference scaling. And then after we are done with budgeting the costs for these majors(wants), we create a space for miscellaneous expenses which would cover our daily needs and also unforeseen circumstances. This way we’d be able to regulate our income and be sure that we spend wise and right. No matter how much you believe in yourself to use your income rightly, you’d be surprised to see that you’ll keep falling into the trap of spending excessively. Conclusively the basic solutions for overspending is budgeting which should work hand in hand with us scaling our preferences.

The problem is also with other people who already know that their source of income is not enough; they still have expenses. Because they may think they have an alternative to their expenses through borrowing or whatever reason.

But even so, for people who know that their income is not enough, they wish they could budget their income for important bills, because there are also others who, even if their income is small, apply the saying "If the blanket is too short, learn to bend".

To stay on budget it's a good idea to plan ahead because you also need to think about savings that are essential for the future. Budgeting helps you identify and achieve your financial goals including saving for retirement or buying a home and paying off debt. When you create an effective budget it can save you from overspending excess debt and financial instability and stress.

From my point of view , it all comes down to money management and in my opinion this should be learn from school because we can see nowadays a lot of teenagers that really don't know how to have an asset management ( from money , to gold to cryptos or any other valuable things ). It's also safe to say that we need financial education from early ages ( I would say 12 it's a nice age to actually learn a bit of financial management ) but society wants to keep us poor so I doubt we will ever see financial education in elementary school.  >:(

In a situation like this I still feel we have a different view because no matter what expenses we make it adjusts to the income we have and this phase continues to repeat so that there is no term that the income we have is insufficient for the expenses we make.
Such conditions occur because we are too pushing ourselves to get a pleasure in life but do not think about the income that comes to us because if in the end we realize that our income is still very hampered then we need to pay attention to ourselves by limiting expenses as minimal as possible so that the income we get is sufficient for the expenses we need.
If in the end it can be done then I think no one will feel that the income we get is smaller than the expenses we will have.

Planning will always be the main and best thing that must be applied in whatever we are doing, because only that will be able to balance everything in life such as finances. If we want things to run in a balanced way then you have to take some actions that will be useful and have a good impact on balance. of course it's true and as I said above that indeed the budget allocation must really be considered, none other than indirectly it will be useful to identify what exactly you need.

If indeed you still have money left over from your basic needs then the better thing that can be done is to save or invest the money in one of the assets that you trust, because it is true as you said above and it will be very useful for any needs or needs in the future. So the point is that management is very important in any case, especially in financial matters, we should not overdo it and only allocate the budget according to what we need.

From the very start, user should also look for this monthly expenses that how much in his monthly salary or how much in his any other business from where he earns could be used? He should always look for it and set a limit for it, not setting the limit for it may cause something very challenging for him as not only in this field but he will not able to store his money for the future also and he will lost most of his money on those things which are not even necessary.
So, the thing is a person should store money from the very start because when a time comes in which he didn't have any other money then the money he stored will help him a lot. Same in the case of setting monthly budget for anything he wants to buy or his home expenses etc. he want to have for the whole month. In this way he also control his money instead of using in useless things.

Of course everybody will want to spend their money with discipline but along the line a lot of unforeseen circumstances always play in.  sometimes things beyond the control of the spender will just happen, so that is why you might budget for something and it doesn't go as you plan. if everybody has gotten a financial plan on how to spend their money and it goes as planned, we will not be having a shortfall on own bills, miscellaneous sometimes  has an effect on our budget too but that can be managed.

However, over spending is part of some people's lifestyle, even if one has a lot of money, he/she is not supposed to spend recklessly. Moreover, there are most people like the government that do have special advisers. The special advisers give them guides on how to spend and also how to make good projects for others to like them and some ideas that will buy peoples mind so they can also vote for them when they next want to contest, so if a private company owner or an individual can also keep to that standard, it will help him/her to make better plans.

Make a money management plan for your monthly expenses. Split your funds based on your needs to get rid of any unnecessary expenses that you incur every month. A preplanned strategy will give you discipline as you will always have in mind that there are other matters where you have to spend money. No matter what happens without any extremely dire cases don't borrow money as this is a burden that will put extra pressure on your mind which can reduce your productivity at work.

The most important thing is money management to get rid of all the financial problems. I have seen people cover their monthly expenses with less than 100$ and they are not complaining.

I'm already married and to be honest, budgeting my expenses is something that really helps me manage my finances. I still remember when I wasn't able to manage my finances, I had a lot of problems and I often made excessive waste. Having good financial discipline is actually not an easy matter, often our desire to spend money is greater than saving money, so learning to manage finances from a very young age is something that everyone should do, with good skills in managing finances from a young age, then when you get old, you will be free from all types of debt.

Make sure to use the money for your need and not for what you want.  Money management is always a key factor  when saving or when you want not to overspend your finances,  with good control and with a good track of each expenses you'll be able to balance your finances.  Something that will really help you to avoid any excessive spending of you money.  Not easy as it is but doable if you know how to limit and know how to properly setup everything with an organize execution.

You're right there, dude. We just need to use our sources of income for the right expenses, and if we spend something out of the budget that is unexpected, we should also know how to save extra for unexpected expenses like emergency reasons.

Now, the question is: what if the source of income is insufficient? How else can you save? It's simple: if you're the resourceful type of person who won't allow you to be short on expenses, you'll find a way to have additional income to sustain other expenses. It's that simple, right?

For that to make it possible, making a list of your expenses would be better. By doing that, excluding the unnecessary expenses will be an easy task. Putting the unnecessary expenses to the needs/savings for your investments or emergency reasons

Finding additional sources of income or changing careers for a better salary to sustain your daily needs should be the primary option. Having difficulty managing your expenses due to inflation, there's no way for an individual to overcome even if you lessen more of your expenses, other than considering these options.

That's one thing that I always did since then and now, having a list of monthly budget is very helpful so that I can track my expenses and to know if I've overspend in some things that is unnecessary, Also I separated my expenses for needs and wants. I opted out buying personal things especially if my budget is limited for basic needs and bills only. I agree with you, to sustain and to balance our needs and wants, Highly recommended to have another source of income or you should upgrade your career with a high salary offer.

I think setting budget limits or making budget allocations is very necessary in an effort to control our expenses within a certain period of time. And all of that is included in good financial management efforts. But after the budget is set, we still have to have a high sense of discipline. Because sometimes without discipline, someone can still spend more than the budgeted limit.

We have to get used to restraining ourselves from always buying things that we want but don't really need. Because as everyone has said, recognizing which ones are needs and which ones are just wants is the most important thing. Because usually people who don't recognize this will find it difficult to limit themselves and create difficulties in financial management.

Yes that's true, but many people now prioritize what they want instead of what they need, even though as far as I know most of what they want usually doesn't have an important role, even though it's just a complement, expenses that are not too important should be eliminated because sometimes someone buys goods on the basis of want not need, and it is only used temporarily not used for the long term. So they only fulfill their desires.

With the current situation, which is a busy lifestyle with luxury and branded goods that have a high price value, this is a major factor in spending that should not be done because it is only for luxury goods with a role only for style that is not really important. I have a friend whose work is done through a computer or laptop, but if he goes out to do his work outside the house he doesn't have much style, I mean he just looks as simple as possible, I once advised him to buy a car but his answer made me salute with the answer "I think if I can still use a motorbike, I don't have to buy it either, I'd better save more money for the future or invest it", this makes an awareness for myself that not everything has to be bought if what we have is enough, it's better to use it with its function.

i understand this and might be guilty of such mindset at times i’ve tried going a day without holding my wallet but still end up spending because in my mind, i do have money and i will always have money even if i might not know where to get that money from

it’s something I’m working on and reading through this thread has helped me gain some insights hopefully i can learn to be more disciplined and lessen my expenses

Financial management is something that is very important and runs a life, if we cannot manage finances well, then be prepared for something we don't want to happen.
I think we all know and can distinguish what we need and what we want, I agree with you that we should not follow what we want, but we should make what we need the top priority. Maybe we are familiar with the 3 needs, namely primary, secondary and tertiary. Yes, we can make it a benchmark for us to limit spending on something unnecessary.

Improving your career in order to get an increase in your monthly salary will not be easy for anyone at a time like now, because whatever we want to improve in life, whether it is to support income or salary, everyone must have time to do that because it is not will easily come by itself. Actually, I also agree more with separating the budget that you will spend on needs and desires, because when someone is able to separate the money for daily needs from the money that he will use to spend on his own desires, such people will often live more comfortably because they don't always faced with difficulties in his life.

But some people are still unable to do this because they are hampered by their low salary or income so they still need to think about other jobs to increase their income. Because spending on daily needs is also a desire, while personal desires are not necessarily included in daily needs such as luxury goods that are rarely used every day. So of course it is very important to separate the budget for these two things because they should not be considered the same, except for those who earn more each month.

For me the ways I avoid spending unnecessarily is to set a monthly budget for myself, this varies in individuals and thus depend on your source of income, your budget style should be focused on what you get monthly, financial planning matters to any person who want to avoid reckless spending, you should never shift your ground whenever you make this decision unless is in the case of an emergency that's when you can do otherwise.
I have applied this process and has been working for me. Once I get funds be it monthly or weekly, I first buy my pressing needs, like foodstuffs, I pay my bills, get a date for my phone, add up some amount of money my investment after doing all this, then am good to go.

Yes, that's a pretty good suggestion because by setting a consistent budget amount every month then we will be able to save more, and also for how I think you can do research first about what you really need, if you have done it then you will know how much you need every month. And of course this can only be done by each person regarding financial management like this, because as you said everyone has a different income each amount, so only they know and can balance it.

I'm sure they can do it, but maybe for people who have an amount of income far from what they expect and do not meet their monthly living needs I think this is quite confusing because they have to be really extra in managing their finances, and also on the other hand I hope they can take other actions to improve their finances such as looking for additional jobs. Back to the discussion above, I agree with you that we must really be able to distinguish what is meant by needs and wants, don't let you be fooled by needs that turn out to be just a desire for something that is not very important and useful for your life. If you really have more money then it's better to save it, it's better to save or allocate it to some investment assets that you trust because it is also for your benefit in the future. We will never know what will happen in the future, so in this way at least we have taken some actions to minimize.

Right, the first step when we get a salary from work is to focus more on allocating all your life needs such as basic needs whether it's food, electricity, water or whatever. And if there is money left over then it's better to save it, it's better.

Setting a budget can really help you gain control over your spending and work towards your goals but sometimes there are obstacles that people face when it comes to financial management. Although, for most, it is a lack of financial literacy because many people don't have the knowledge or skills to manage their finances effectively. Sometimes it might be lack of self-control. We all know how difficult it can be to resist the urge to overspend, especially with the constant marketing and advertising we're exposed to. We also face financial stress due to unexpected events or circumstances such as loss of job or health challenges. Setting up the budget sounds easy and simple but it hardly works in most cases due to one reason or the other.

One method of avoiding over-expenditure and having financial discipline is through frugalism and minimalism. Those who practice frugalism and minimalism are one of the most financially independent and prudent people on earth. Start first by looking around your apartment for those items that occupies space and adds no value to your space. After selling the items off put the money into your savings account look for more ways to save money and make it fun like an adventure. This is one of the ways you can build financial discipline and avoid over expenses. By just practicing minimalism, you would come to appreciate how having little is more. You do not need another pair of shoes or the latest designer perfume, handbags or smartwatch when what you have still works fine.

I agree with your method. Personally, I also think that sticking to a budget is very important. Managing your money is more than just saving. For example, putting your wants first with your money is like building a foundation. It's not just about having food, water, power, or air conditioning; it's also about giving yourself a financial base

Now, I understand how hard it is for people whose income doesn't meet their spending. A lot of work. I know there's always room for financial manoeuvring, though. Lessening spending on things that aren't necessary is important. Additionally, looking for extra work is a step, but it's not the only one. They've done well with online markets, freelancers, and the gig economy. Using different ways to make money is vital

And I'm all about discipline when it comes to separating needs from wants. I advocate it. If you have surplus funds, investment is preferable to saving. Reputable assets for investments are essential. Since I am aware that the future is unpredictable, I take this seriously. "Hope for the best, prepare for the worst". That's how you reduce financial shocks in the future

Yes, it's true that everyone should recognize which ones are their needs and which ones are just their desires. But when spending money, there are still many who don't prioritize needs and instead prioritize desires. Well, they lack discipline in financial management.

Because for people who are disciplined in terms of financial management, as you said, they will prioritize basic needs and then second and third needs. Well, these terms, namely primary, secondary and tertiary needs, should be the main benchmark in making a financial budget in financial management.

Yes because planning and management are very important especially in terms of financial life, however we must be able to balance everything that exists or that we are doing especially managing finances, it will always be important because with it your life will be organized especially in the money factor, which usually you are confused when you want to fulfill basic needs because you are always excessive in realizing desires that are actually unnecessary then in this way and if you can do it consistently then you will not be confused anymore because you already have better management than before, and of course on the other hand this method is not only for just being useful in terms of balancing but on the other hand as you said indirectly this method is also quite effective for building a financial foundation to be better.


We are talking about someone who really doesn't have good finances and even struggles to meet their basic needs, it's true that there will always be a solution to every problem and I think it depends a little on the person too whether he wants to rise up or continue to be stuck in a zone like that. Of course as I said before, reducing unnecessary expenses is very important and it is better to choose to allocate money to something that has a good impact on our lives or even put it in a place that has the possibility that the amount of our money can increase such as investment maybe. Yes, usually people who are experiencing bad finances, one of the steps they usually take is to add part-time jobs such as for example what you said participating in some online markets and so on, basically a way to be able to get a job to increase their finances.


Sometimes there are still quite a lot of people who are fooled by the name of necessity when on the other hand it is just their desire to fulfill their lifestyle for example, it is not too important in my opinion because it is only for satisfaction, and yes if indeed we have more money than the rest of the needs then it is better to save it, it's up to you whether it will be saved or invested in some trusted assets, the point is you know what can make you safe and secure. Because yes I hope you can think about your future, we never know what will happen in the future, I'm sure everyone will experience a phase where they need money in an emergency, and that means this method is indeed very effective as one of the preventive measures.

I think if you differentiate your needs from want you will be able to save your money, I personally don't want to talk about needs but we humans can't do without need cause it's essential but I see want as satisfying your desire when it's not necessary like buying ice cream, going for shopping etc, I understand your point having a supportive wife that's willing to support the family now in this generation is rare.
But the op actually mentioned making a realistic budget I think that will help if everyone can keep to the budget list and secondly making a family budget doesn't stop anyone from living a luxury life, the problem is most people fail to understand how to spend their money and they find themselves running short of money, making a budget shows how dicispline a person is when it comes to financial matters.
But the 24 hours rule it sounds as an oppression cause as a family man sometimes expenses comes unexpected.

1. Make a realistic budget
3. Break down luxury expenses

This two would be the key or simply just my own personal choice considering that i have that a bitter experience because of buying with luxury expenses without even trying to think about on how
i would be able to pay and maintain up for long term. Yes, it could give out that kind of happiness and contentment but on the time that you are already experiencing burden on your back
specially on monthly payments specially if you do have mortgages then it would really be that an another story have. This is why you should really that mindful when it comes to your
expenses and other means on which if you arent that mindful about it then you would really be finding yourself on a great debt.

Everything should really be in moderation on which it does really need up that kind of control because we know that once you do mess up with this then
it would really be bring that huge impact into finances.

I think this one should be the best advice everyone should take note of. We always budget on everything, and when we say budgeting it also covers the cents we spend. Having a realistic budget also mean that you are thinking ahead of time, this means you already thought of the things you may need to spend from 0.1 to 100.

I don't have such a luxury on my body, not just a fan of, but I do have some expensive stuff but I can't find it any luxurious, however with luxury it should also be taken down based on our capacity. If we don't afford any luxury don't spend on it, even just to experience at least once, this is a big no. One thing I could advice to spend in luxury is if you can spend x10 of it, like sports car, mansion, designer clothes.

At the end of the day, this all comes down to our discipline on our finances. Be in control, do not let your money control you.

I think that to avoid over expenses a person must experience first what it is like to live under pressure of owing money to someone. Real life experience is what differs theory from practice. We can say a lot about making budget, planning, avoid impulsive purchases. But people would still get tricked by taking wrong decisioins. But if we already know what will life would be, when we have already burned, then it will be much easier to avoid.

I just think that we can no longer avoid overspending in the reality of our lives. Whether we are rich or poor, we experience it; the only difference is that the rich will not feel that they have over expenses.

It's not like people like us or me who can feel it and notice it, but as much as possible, if we can avoid it, let's do it so that there is no problem and we are not affected in real life. That is why having self-discipline is important.

Avoiding impulsive purchases may be the biggest factor in solving the problem. Most of our unnecessary expenses are things we buy on impulse. If we can prevent these, we will have taken a big step towards achieving what we want.

Companies that want consumption to happen take steps to deceive people, and they are very successful in this. The amount of money we spend on things we don't need is increasing day by day. To prevent this, we must make a list of our unnecessary expenses. What we seem to need today may not be needed tomorrow. It is necessary to think in detail before shopping.

Op you are absolutely amazing and the points which you mentioned are very awesome and it will help in the economy of every house if they follow. Well I personally follow the whole week food chart in which I decided what to eat on which day and there are also plan for the guest as guest come at every time ;D ;D. Some people buying a branded things and I am wonder why they are wasting that money if the same thing will work better then that branded things. Mostly our monthly budget is out because of the wrong management and expenses on useless things. Just write the whole month groceries in a note book and fix a suitable fund for it and then you will be free form buying it to the whole month. If we make plan and going according to it then we will easily manage it even in a low salary.

The problem with this is that when we don't realize from the start that such things can be dangerous, we will indeed get carried away and forget, leading us to shop for things we want (not need) carelessly.
This kind of thing always happens which makes us a hedonistic person because we don't have good self-control and financial management.
But on the other hand, things like this always happen when there is a transition where we have more money because we always want to try something that we have never felt just to fulfill our own curiosity.

This obviously has to be reduced but it's not as easy as it looks because it's just human nature that when their finances increase then indeed the consumptive lifestyle always attacks and makes us complacent which ultimately makes us regret it at the end.

Realization could neither be directly felt on first tries or would really be able to find out when things get messed up? This would really be that indeed varying on each person because we do know
that we do have different insights and views towards things and making out some decisions according into the situation we are in.In overall, having a good budget or financial allocation would really be that something crucial or something which is really that important.  If you are just that earning less then it would be just that normal that you would really be needing to adjust.
Spend only on the amount which is really just that right on your daily needs, if you do have some extra money then better kept it for savings and if there's still another extra then
this is the time you would be considering on buying some of your wants but of course everything should be in moderation.

Just stick into your budget plans and never ever make yourself get overdropped because if you do then you would mess up in the end of the line and this is something that must be
avoided in the first place.

It is very common for rich people not to experience excessive spending because they have more income to meet every need they need in life. So this is only more likely to be felt by poor people because poor people are constrained by their income level which is still less than the amount they need. So what you are saying is a very normal thing, even though in the current conditions it is actually very difficult for anyone to avoid excessive spending because most of the basic necessities have become expensive.

Everyone may have tried their best not to feel that way in their own lives, but this will still be felt by some people who still have very low incomes. Because in terms of daily needs, things are now starting to look the same even though everyone is still struggling not to spend too much money every day. However, this is still difficult to do except by simply trying to earn more income in each of our lives through different jobs.

Impulsive purchases not always lead to spending more money than you have, but I agree that they play significant role. Humans are so tricky, that they can always explain and convince to themselves why they need to purchase exactly that thing and do it right now. Which transforms impulsive purchase into a regular purchase.

I would like to add to a list of actions to avoid spending to much such thing as changing habits. If we put on a list all the things we have bought or spend money on during month, we would see that there items or services we buy automatically, while they aren't needed that much or can be substituted. I'll give an example - morning coffee. We can get it home and pay only for coffee, electricity or water. Not expensive in general. We can get same cup of coffee at work, where your employee most likely give it for free. Or we can get it for 9,99 at Starbucks. Each day, several times per day.

Yes, avoiding to allocate money to purchases is indeed a very appropriate action in terms of financial management in our lives, none other than because we must make considerations to adjust expenses with income. I think consideration is very important so that we can reach the right decision and avoid regret when something we buy is really not useful or has a good impact on ourselves.

In my opinion, one of the things that can be done for prevention is to do research in advance about what you really need within a month or one year, such as separating what your basic needs are within a month and if that's all you need then you can put the amount of money that you need for expenses, and also on the other hand we must learn to distinguish what is meant by needs and desires, sometimes people like to be fooled by something they think is a need when in fact it is just a desire from their lust that will only give them satisfaction but not get any other positive impact.

You are right, our effective steps must be to differentiate basic needs and other needs to organize maximum financial management. If we have a limited budget, we must calculate the amount of monthly expenses for basic needs and the rest for other needs if necessary, but I suggest you have monthly savings for increase emergency needs funds. Of course, managing financial patterns in life is very simple, but our instincts are difficult to control to buy other needs without consideration, which is why many people do not have emergency savings funds which are very useful for future financial needs.

Its truly impossible for someone not to be able to know on where their money would be going not unless if they do have those vices like gambling, drinking liqour and other activities which is really that consuming out too much fund on which you would really be just only be able to realize when its late but if we are talking into those typical spending like in food and other important things then it would really be needing that good allocation or budgeting on which we know that it would really be that so crucial on this part on having this kind of consideration. Having that kind of planning would really be saving up yourself on potential devastation or overdropped
with your budget and this is something that we dont really like because it would really be giving out that huge impact specially if you do have a family to raise on which budgeting would really be something
that recommended or something that crucial.If you arent really that something mindful about these basic stuffs then you would  really be ending up on having that kind of disastrous kind of situation
in speaking about finances.

These things will ultimately change over your lifetime, things that apply to people at a younger age will be totally inappropriate for somebody that is approaching retirement. Take general spending for example, when you are young you should get a lot of value from building life experiences through events, socializing and travelling. These things can bring you a depth of knowledge and experiences that are better than having money sat accumulating in a bank. However when you're near retirement age, you might start de-risking with things like your pension plan, swapping out equities (stocks) for bonds that pay less but are much more secure and unlikely to go down much in an economic crash.

That's the start and that's what we call learning from his/her own experience. Because if you never experience the hardship of living under pressure and having nothing, you'll still be the type of person that never grown. Over expenses is a spending habit that you shouldn't really adopt even if you're the richest person in the world. Look at those people, their overspending habit are on assets and not with useless things.

Especially on this generation, about the healing the inner child when they're still thinking of the things that they have never bought because they can't avail it and now that they've grown up, it's like checking all of those things that are on their list. It's gonna be a nonstop list and checking and that's part of over spending and losing their discipline towards their money habits and management.

It's true that we get to plan and budget but most of the times when we're no longer disciplined, we're not following all of those plans, the budgeting and etc. Because what we're thinking is we can afford it despite that it's not really part of the plan.

People can plan their budget differently. They can plan to spend today more than they have, if their income during X period would be constant. That is also planning, but it consist having over expenses. Or people might plan to buy something they cant afford, and plan to repay it during X period. So planning also have underwater stones. For example right now I am planning to buy a car and cover part of its price by credit, even though I can pay whole amount at once.

Imo the problem of over expenses rises from oversaturated market. We have to many things to buy. We have to many things we want to have. I think if people wants to solve over expenses problem, they should start from that.

All these still buttress on being conservative and I can say emphatically that I am very conservative, however, doing this too much is also very bad. Good, we should not live beyond our means but instead of trying to be too conservative, you might want to add to your income sources, this is now my resolve to the situation. You see, many of us who believe that one thing or the other might not be needed at times are doing that because we've not reached our financial freedom. Frivolities are the only things I would not support, and even at times, I still close my eyes to living big even as I am always trying to be conservative and not waste money. The reason is because what we eat and use are only ours in the land of the living and anything can happen at any time. So depriving yourself and your family might not be the best choice all in the name of being conservative and investing.

I hope you get my gist. In summary, as we are trying to be conservative, we should moderate things, and if money is the problem, is better we increase our hustling rather than depriving ourselves of the good things of life in the name of being conservative.

Everything is too much would really be that always bad and it doesnt matter on which thing but everything on this world does have that kind of limitation and its not bad on buying up something that we do like
specially if we do have the money on which it would be normal that you would really be that buying on that on something that makes you happy but of course if things turns out to be too much then this is where things starts on messing up and this is something that must be avoided. Just like on what most people been saying on here that moderation and control is indeed crucial. If you do see that you are just only earning the amount which is something that it is really just that enough for your daily needs and having some small savings then its better not to consider on spending it again on gambling or trying out to risks it because its never been that recommendable on doing so.

Who would really be on their right minds that they would really be that tending to gamble our their life savings? Or trying out to gamble his/her income
just they do believe that they could make out several folds with it and would be ending up on having tons of money which is more than on what he bet?
You are really just that making yourself delusional on this aspect.

And make sure that each planning ahead will be executed well, most of the time even you already plan everything there's unnecessarry expenses that you need to address, things that will ruin everything and to the point that you need to use your credit cards or loan money to cover that expenses, not alone with those what you want but emrgency that needed to be well-covered, it also affected your budget.

Well that's the truth just so we can live a comfortable life at all times,it's better to live below your means and the only way you can do that is to reduce your spending.You spend less on clothes,accessories,getting top model of cars and many other things,that way you're left with so much money to save and invest for other financial purposes.
 It doesn't necessarily mean you will deny yourself of your happiness and comfort,In essence, it’s spending less than you earn simple as that.its more about having a smart spending and exercising saving decisions.

By doing this you are preparing yourself for a much comfortable future, not spending too much even if you can and saving your money
either for investment or for pure savings leads you to a comfortbale life ahead.

It doesn't mean that you are denying yourself for those liesure that you can have but it's a wise decision making to secure your future
saving is not easy but if you manage doing it your own self is also the beneficiary.

Some of the tips you outlined in Op are very helpful in dealing with the increase in expenses rather than income. Almost everyone knows the problems faced when expenses are greater than income, but methods like this are very easy to say but very difficult to implement for most people. People whose income is much higher than their expenses may be able to avoid overspending and are disciplined in doing so, but for some people whose income is limited, it is very difficult to prevent this due to unexpected needs.

Maybe they can avoid excessive spending by prioritizing needs over desires, but unexpected expenses such as medical expenses, children's school fees and vehicle maintenance costs cannot be avoided. Having a mediocre income is very annoying because it can hinder the process of investing or saving for a better future. Everyone wants to live free from financial problems, but at a certain time they have to dip into their savings to finance unexpected needs.

Well, the problem really lies in how much money we make and how much money we usually have to spend. Because there are still many people out there who have more needs than they produce. for example, someone has a monthly income of 1000USD but the basic needs they have per month are 1200USD. And this can happen to many people nowadays. Especially in countries affected by hyperinflation. That is why the number of people making loans continues to increase from year to year. Because they cannot fulfill their needs just by relying on their basic income. That is why currently many people are increasing their working hours and looking for additional income. And very lucky for those of us who have additional income. Because there are so many people out there who are still struggling to get it.

Reducing expenses is indeed a very good thing if we can do that, because if we force ourselves too hard to follow current trends, of course the expenses we have will be very large, even the income we have will not be enough to meet the needs we need and what's worse Again, we have to look for a loan that can meet our needs and when we get income, we have to pay off the loan we took.

Choosing not to live in luxury and saving some of the income we have is certainly very good because if we have savings, of course we will be able to invest in our future so we can achieve financial freedom.

Managing economics is a very good habit. I think its a necessary thing to manage the whole system.
I am managing my house expenses with discipline. It is really helpful to avoid over expenses.

It's not enough to just cut down on expenses if you want to improve your financial situation. In addition to reducing expenses, it's important to find a well-paying job or a side hustle. Simply reducing expenses won't be enough, especially with the rising cost of goods and services. If you keep cutting back without finding ways to increase your income, your budget will remain tight, and you won't see any progress. In the end, you'll still find yourself struggling with expenses.

A simpler lifestyle will help to reduce expenses if you can prevent yourself following the trends you may able to deal with it, but most of the time people always wanted to have things that's not necessarily needed,  things that's adds up to your expenses,  if you can avoid that you may able to save more money,  with a wise choose of lifestyle and with the knowledge that you can have thru online access you can use those save money for investment.

More on how you choose and how you percept your future,  preparing step by step is very crucial more on how you discipline your own self.

The wrong thing for most people is that once they do able to make more money or huge income or something having that in talks about more stream then people would really be naturally be able to have those kind of upgrade in lifestyle too on which it would really be just that be able to compensate that their upgraded lifestyle on which they shouldnt have done that if they are really that serious on trying out save up money.
Why i can say so? This is what i have done in the past on which on the time that i have seen that im earning more, the expenses i do have do step up too on which it did come into a point
that expenses is way more higher with my income too on which i have put up myself into such deep debt problem on which it did takes years for me to be able to
solve those things.

Never ever come into a point that you would really be that irresponsible on how you do spend up your money even if you do have that huge income or source
because there's no such thing about unlimited income and its better that you should really be that sensible on the actions that you are making.

True! Many people now a days are into social media and trends in it; they can be easily persuaded and attracted to something new and trending on the internet, and that's what the promoters and advertisers are taking advantage of. Let's take, for example, the iPhone product. If you are into technology, you will see the difference in technology. For example, in the case of iPhone cellphones, there is a recent release, which is the iPhone 15. If you compare it to the iPhone 14, there is not much difference, but why is it so hyped? And many people are dying to buy it because it has become a social norm or trend to have an iPhone when it has a new release. If you are a practical person, you will see the wrong here, and what you are paying for is not the cellphone's features; it is the brand. That's why I can't understand people dying to have an iPhone despite their financial instability.

Spending more than we earn is a disease, in my opinion, that won't go away and can get worse if we just let it go. So as long as it doesn't get worse, take action immediately so that it doesn't lead to an unexpected situation.

Because, to be honest, until now, there are still many people like that, especially those who have a regular job, where they usually just go along with the trend that even if you can buy cheap things, it's because of the trend; even if it's expensive and not suitable, they still buy it just to keep up with the trend and get their luxury, even though in the end they will also suffer, something that is not right in reality.

You don't have to know all of it, having the basics is more than enough because you have to manage your own economy than the entire economics of the whole system.

Nice, many don't do that because they're renting so if you've got your own house and manages to go with discipline over it. That means that you're doing a good job.

the key take away is that people should learn to at least not buying when they just don't deserve or cant afford something its like when there are new things appearing some people might aim for the flagship despite the fact that their income monthly isn't even quarter of that they should refrain from buying the flagship product and go down few class maybe, as long as its functional and as good as the flagship though below a little bit its still okay.
we should refrain from furfilling our prestige just for the sake of standing out in our social bubble, know our limit know what we can afford, if we truly want to experience luxuries try to work hard, pump that income number up because thats the only way.
otherwise it will be just like wasting money.

This should really be on your mind on which on the time that you have earned more then you shouldnt directly be making yourself having those immediate upgrades as well specially
on how you do spend,for it would really be putting you on big trouble just like on what you said. The worst? you would really be having those debts because you cant be able to compensate on how
you do really make those kind of spendings on which we know that this is something that we should really be avoiding at all cost. We do know that once you do find yourself
having those kind of spending but you cant be able to catch up on how much you earn then you are really that in big problem.

Just like on what you mentioned that on the time that you would be making those realizations is on the time that you would really be seeing that you would really be
having those financial problems.

Buying what you can't afford is like throwing money away. You'll never see it again and are worse off. A cycle of emptiness. You buy, feel happy, regret. Keep repeating. Stop the madness! Unfortunately, no one cares about your flagship devices. Your rent and food won't be covered. No one gains from your relentless shopping except the sellers. Be smarter

Instead, strengthen your finances. Spend less, invest more. Not glamorous, but effective. Think ahead, not just now. Building a future requires not pursuing every flashy object. Choices should benefit you, not simply your image. Financial wisdom is true luxury

Thanks for the tips! I especially like point number 4 about the 24-hour rule. Implementing this rule can help us minimize impulse purchases because within 24 hours, our excitement usually subsides, allowing for more rational thinking about whether we truly need the item.

To add some tips, I think we can save more by utilizing coupons and taking advantage of flash sales when buying necessary items. This allows us to purchase needed items at a lower cost.

Yes, I agree when you say it's better to buy based on function. For example, clothes for everyday, many clothes are very expensive, even though the function is the same, people who do that are people who prioritize function or prestige, unless indeed their income is very high. But for people who have an average income but choose goods or clothes at high prices, it is clear that they buy them because of prestige, it could be because of the environment that is like that or other things.
We must adjust between income and expenses and even then, in my opinion, we must have something left over for savings or investment.