How to spend money determines whether you can avoid unnecessary problems

[Mahanton]

What the OP is talking about is someone who spends more money on fun or things that are not really needed. And of course this type of person is the type of person who is called a waste.

people who often commit extravagance are those who are not good at managing finances and those who tend to prioritize wants over needs. And. of course everyone who has mature and logical thinking will not do this without needing to be reminded by someone.

because if we think logically (common sense) then of course we will know how to spend our money to be more effective. Recognizing which types of needs and which types of desires are actually not needed is a basic thought that we must have.

It would always correlate with wants and needs. I once saw a video about how people couldn't save money due to increase of salary = change of lifetsyle. Like it or not, there will be people who will it this way, increase on income resulting to increase of expenses, which is not healthy and it would be a huge habitual problem. If you think about it carefully, there is no problem increasing expenses if those spendings are intended for a good cause (needs), but there're people who do this just to support their wants, and I've seen a lot of this people, from distant relatives to some of my acquintances, and of course I'd be hesitating telling them it's a bad habit, coz in the end, I'll become the antagonist they would just tell me to mind my own business.

Actually this is really based up on real or true experience about having those increase of earnings or salary = increase in lifestyle on which you would really be ending up with that kind of path on which you would really be having a hard time on handling up specially when your expenses is already that soaring up high which it would really be putting you in big trouble in case if you dont able to handle it well or didnt really be able to stop
it.You should really be needing to level up everything if you dont like on having a messed up finances then its better to make yourself that be prepared
and having that proper planning.

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[Mpamaegbu]

a lot of peole complain that their income is not enough to cover their daily expenses so they can't save much money while...they spend seven bucks on a cup of coffee almost every morning, throw a hundred dollars on some gym membership cards but never show up training, have dinner with some random girl in an expensive restaurant, buy drinks in bars and waste hundreds of dollars...

Those who behave in such manner shouldn't be taken any seriously when they complain of financial lack. It's stupidity in itself to fret away one's meagre resources just to sound big and relevant.

I can not provide any statisitics but I am sure that many people have fallen in the trap and can not get out.  I hope you are not one of them.

So true. I once walked into a restaurant a few years ago to have lunch and a dude there ordered extra pieces of meat for his meal but didn't eat any. He ate the normal meal without picking the extra. Dude paid and left. I was really spooked (so to say) on the day. I saw it as an unnecessary childish behaviour. Till date I see such pattern and people seeking validation through it.

[alastantiger]

Certainly, if you did not plan your spending, you are going to have a big financial disaster. An average income earner should always have a plan on his or her spending. Spending money unnecessarily is not neccessary. You should always draw your scale of preference. What you want and what you need are two different things. For instance,  you may want to celebrate your birthday in a private jet, you may want to wear the most eapensive cloth and shoe to a friends party, but you cant afford to buy them. Are you going to spend all your savings  because you want to show off? No. You dont need to. So you have to cut your coat according to your size. And you shouldn't compete with friends with higher income. Always know what you need at a particular time to avoide financial breakdown.

[Wong Gendheng]

Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.

[Cookdata]

Please let me clarify first: anyone who is extremely poor or wealthy is not included in this discussion. Only those who are employed with steady income, some savings and spare time will find this topic useful. I guess most of us are doing fine now but financially we have to face one common problem: how to spend money.  This issue leads to many consequences if not handled properly. Here I would not start any broad and subjective agruement. To deliver my message clearly, I am using some specific examples to elaborate. For example, a lot of peole complain that their income is not enough to cover their daily expenses so they can't save much money while...they spend seven bucks on a cup of coffee almost every morning, throw a hundred dollars on some gym membership cards but never show up training, have dinner with some random girl in an expensive restaurant, buy drinks in bars and waste hundreds of dollars... The list goes on and on. If you live this kind of lifestyle and at the end of months, you are running out of money or can't pay the mortgages, whose fault is this ? I can not provide any statisitics but I am sure that many people have fallen in the trap and can not get out.  I hope you are not one of them.

This is simple and I will make it easy for you to comprehend. Just because you like to stay indoors doesn't mean I'm equally introverted, I could be an extrovert that wouldn't want to stay home. Again, because I love taking bear and hanging out doesn't mean you have to be like me. It is all choices even if we earn the same amount of money, all life without fun is doesn't make sense, but we have to do it moderately but saying because my source of income is never enough should limit my way of life totally is out of debates, I will save and spend flamboyantly but it doesn't mean I must suffer it.

[MarjorieZimmermanGinger]

Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.

Everyone must have a pattern of managing their financial resources, as much as possible to save and manage money in the process of life, not all money is used for investment and store gold because there are basic needs that must be fulfilled for their families. Therefore there are a number of things that must be considered in managing better finances, so as not to put us in financial difficulties.

Investment and storing gold are two good things to do, but also must be considered the level of income and expenses to take the approach of both, so that there is a balance between investment and daily needs.

[DOH!]

When it comes to spending money, it is not at all easy. It takes a lot of discipline to manage spending and to distinguish between needs and wants. I learned something very important that explains why saving money is so crucial: it gives you something to fall back on. Many people complain that their income is insufficient for their needs, but this is often due to poor money management. When we consider it, our income cannot support our standard of living.

Totally agree with your point. There is a saying that "Making money but not keeping it" is a bad thing that will affect your life, health, financial difficulties in the future if you do not calculate and save properly. At any time, always set a dedicated savings budget (additional investment capital, health care, risks from life such as illness, accident,...) Especially for the economic downturn. The economy is accompanied by ongoing hyperinflation, if spending is not planned, it will certainly affect the future.

[Pesona1]

Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.

We cannot deny that extravagance is one of the causes of distress, spending money only for something that is not effective, of course, will only trouble ourselves because little by little our money will be drained, even though we have a steady income but no good management in managing finance of course the money will only be wasted, I think many people who are rich today start from their habit of living frugally and using money only for important purposes, while poverty certainly cannot be kept away from the effects of extravagant living, it is very important for us to be able to manage finances as well as possible even though at least it won't make us rich but there won't be any trouble if an emergency ever befalls our economy.

[Wapfika]

Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.

Everyone should be open minded in the idea of saving and investing, we are now in generation that it’s easier to finds ways how and where to invest. We must know where to focus ourselves with. Plan ahead before spending. I suggest to read books to get motivated as well keep yourself in focus of the goal wanted. There are more ways to earn now thru online we just need to find what suit our interest best so we can enjoy what we’re doin it can be in online job, trading crypto, or online business selling.

[dezoel]

Today I had to go to a funeral, it wasn't anyone I know and I was just there for my parents because it was someone who knows someone who knew the person that passed away, so basically very distant from me.

However, afterwards I realized that I haven't been out in a very long time, not for any fun reasons, I had been out for funerals, my dog passing away, hospitals, but it has been literally over 3 months since I have been out for fun, last time was new years celebration. So, myself and my spouse went out for a good breakfast on a good place and spent the money that we didn't even have. Bad financial decision, but I can't explain to you how much it helped me with morale, it really gave me a boost.

Now I feel much fresher and better. Sometimes you HAVE TO spend unnecessary amounts of money, to keep your mental health up.

[tjtonmoy]

It's their personal life, so they can choose on how to live it. But it is always a good idea to spend money in such way that we could avoid problems in the future. You said, you don't want to talk about poor and rich, but I think when it comes to spending money in a way so that we could avoid problems comes to the point of one being poor or rich. We have the mindset to think that the rich spend money carelessly. But the truth is, they are rich because they know how to earn them back. But poor people are trying hard to ensure a rich lifestyle, while spending more and creating problem themselves and forget to enjoy the life they already got. If we are happy in our own lifestyle, we can avoid such problems.

[panganib999]

True. I've experienced it myself, I'm a pretty extravagant spender when you consider the fact that my pay grade is a little over the lower middle income class. Which oftentimes lead me to lose money in the middle of the month, sometimes even from expenses that I couldn't backtrack for the life of me, that almost always leads me to borrow from my investments just to get by. Honestly speaking I haven't gotten out of this cycle just yet but the I'm slowly getting the hang of budgeting and keeping track of my monthly expenses. One thing I do notice though is how everything gets more expensive over time, possibly due to the effects of inflation, so simple budgeting and tracking of expenses wouldn't cut it, you have to have a pretty extensive grasp of financial literacy in order to understand and apply it on a fundamental level.

[Republikcoin.com]

Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.

Changing bad habits to be good is not an easy thing for everyone, moreover these bad habits have made everyone more comfortable to do every day. But you also need to know more other reasons why some people are still doing this now, because I think everyone is sure to spend their money where they need it even though you see they are not wise in managing their finances.

Even though everyone who has managed their finances wisely also does not tell other people in their life. So don't judge too quickly on this because you still need a more in-depth analysis so you can find out more reasons for everyone in terms of spending money.

[Marcellin9]

Today I had to go to a funeral, it wasn't anyone I know and I was just there for my parents because it was someone who knows someone who knew the person that passed away, so basically very distant from me.

However, afterwards I realized that I haven't been out in a very long time, not for any fun reasons, I had been out for funerals, my dog passing away, hospitals, but it has been literally over 3 months since I have been out for fun, last time was new years celebration. So, myself and my spouse went out for a good breakfast on a good place and spent the money that we didn't even have. Bad financial decision, but I can't explain to you how much it helped me with morale, it really gave me a boost.

Now I feel much fresher and better. Sometimes you HAVE TO spend unnecessary amounts of money, to keep your mental health up.

Agreed but I guess what you brought up may not be generalized as a spending issue but rather a temporary escape from life. Everyone is stressed out nowadays and we can not function as machines every day. In order to have a vigourous life, sometimes we have to step away from where we are or what we are and enjoy a different moment of life. It might be as your example of going out for a nice breakfast with your spouse or taking a long walk across the country road or just buying a ticket to take a train to go to a random place for a day. These are reasonable relaxation.

[Cryptock]

Today I had to go to a funeral, it wasn't anyone I know and I was just there for my parents because it was someone who knows someone who knew the person that passed away, so basically very distant from me.

However, afterwards I realized that I haven't been out in a very long time, not for any fun reasons, I had been out for funerals, my dog passing away, hospitals, but it has been literally over 3 months since I have been out for fun, last time was new years celebration. So, myself and my spouse went out for a good breakfast on a good place and spent the money that we didn't even have. Bad financial decision, but I can't explain to you how much it helped me with morale, it really gave me a boost.

Now I feel much fresher and better. Sometimes you HAVE TO spend unnecessary amounts of money, to keep your mental health up.

Agreed but I guess what you brought up may not be generalized as a spending issue but rather a temporary escape from life. Everyone is stressed out nowadays and we can not function as machines every day. In order to have a vigourous life, sometimes we have to step away from where we are or what we are and enjoy a different moment of life. It might be as your example of going out for a nice breakfast with your spouse or taking a long walk across the country road or just buying a ticket to take a train to go to a random place for a day. These are reasonable relaxation.

I think work from home has changed the lifestyle of the people all along.
People are now socializing less and spending more time watching screens. This is the disadvantages of the COVID.

[South Park]

Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.

Changing bad habits to be good is not an easy thing for everyone, moreover these bad habits have made everyone more comfortable to do every day. But you also need to know more other reasons why some people are still doing this now, because I think everyone is sure to spend their money where they need it even though you see they are not wise in managing their finances.

Even though everyone who has managed their finances wisely also does not tell other people in their life. So don't judge too quickly on this because you still need a more in-depth analysis so you can find out more reasons for everyone in terms of spending money.

In fact changing any habit whether is good or bad is incredibly difficult, it is because of this we have to do our utmost effort to have as many good habits and as little bad habits as possible as well, so developing the habit of saving since childhood is important because in that way the child will grow and still have that habit when they grow up and make a significant difference on their life, as in this way they can begin to invest earlier and make way more money than those that did not develop the habit of saving during their childhood.

[serjent05]

Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.

Changing bad habits to be good is not an easy thing for everyone, moreover these bad habits have made everyone more comfortable to do every day. But you also need to know more other reasons why some people are still doing this now, because I think everyone is sure to spend their money where they need it even though you see they are not wise in managing their finances.

Even though everyone who has managed their finances wisely also does not tell other people in their life. So don't judge too quickly on this because you still need a more in-depth analysis so you can find out more reasons for everyone in terms of spending money.

In fact changing any habit whether is good or bad is incredibly difficult, it is because of this we have to do our utmost effort to have as many good habits and as little bad habits as possible as well, so developing the habit of saving since childhood is important because in that way the child will grow and still have that habit when they grow up and make a significant difference on their life, as in this way they can begin to invest earlier and make way more money than those that did not develop the habit of saving during their childhood.

If you have the will no matter how difficult it is, it can be done.  The reason why changing habits is difficult is because we are used to do things and wanted an abrupt change.  I think that is a wrong approach in fixing our bad habits especially in spending money.  We can do it slowly until we get used to our new way of spending.

I do agree that learning the habit of saving during our early years is important because it can become our core attribute and will carry it when we are getting old.  but the thing is most of us save because we are planning to buy something that we cannot afford to buy in one go with our earnings.  Most kids are thought this kind of saving fact won't impact improving their life at all because the savings are intended to be spent on things they liked.  Instead, we should teach kids in saving not only for the things they wanted but also for the future emergencies.

[karmamiu]

Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.

Changing bad habits to be good is not an easy thing for everyone, moreover these bad habits have made everyone more comfortable to do every day. But you also need to know more other reasons why some people are still doing this now, because I think everyone is sure to spend their money where they need it even though you see they are not wise in managing their finances.

Even though everyone who has managed their finances wisely also does not tell other people in their life. So don't judge too quickly on this because you still need a more in-depth analysis so you can find out more reasons for everyone in terms of spending money.

In fact changing any habit whether is good or bad is incredibly difficult, it is because of this we have to do our utmost effort to have as many good habits and as little bad habits as possible as well, so developing the habit of saving since childhood is important because in that way the child will grow and still have that habit when they grow up and make a significant difference on their life, as in this way they can begin to invest earlier and make way more money than those that did not develop the habit of saving during their childhood.

If you have the will no matter how difficult it is, it can be done.  The reason why changing habits is difficult is because we are used to do things and wanted an abrupt change.  I think that is a wrong approach in fixing our bad habits especially in spending money.  We can do it slowly until we get used to our new way of spending.

I do agree that learning the habit of saving during our early years is important because it can become our core attribute and will carry it when we are getting old.  but the thing is most of us save because we are planning to buy something that we cannot afford to buy in one go with our earnings.  Most kids are thought this kind of saving fact won't impact improving their life at all because the savings are intended to be spent on things they liked.  Instead, we should teach kids in saving not only for the things they wanted but also for the future emergencies.

Same thing as rehabilitation, and there is also this thing called withdrawal for those who're involved in abusive drugs. We've all been on a situation wherein there're so many temptations that if only we had the money, we will surely buy those things. Let's all admit it that we all want money because of something, either it's for our needs or for savings and investment. We are all here trying to survive and to sustain our daily lives.

It reminded me of the thread I read the other day about "the cost of living is already killing" or something similar to that, and yes, it's true for most of the countries surviving at the same time earning is like a living in the jungle. People from the high-class family may not notice this but mostly from the lower-class incomes to middle class, they can literally feel those burdens. This is mostly true to countries with high inflation rates and those low average income countries.

[Marcellin9]

Money seems to be very fun if we can manage well, but the thing that happens a lot is that people spend too easily and use it for wasteful and ineffective things, if the bad habits are not changed then we can be sure that we will suffer, not forever We can get money easily and when the money is in hand then use it for productive things such as investment or storing gold whose value will continue to increase.

Changing bad habits to be good is not an easy thing for everyone, moreover these bad habits have made everyone more comfortable to do every day. But you also need to know more other reasons why some people are still doing this now, because I think everyone is sure to spend their money where they need it even though you see they are not wise in managing their finances.

Even though everyone who has managed their finances wisely also does not tell other people in their life. So don't judge too quickly on this because you still need a more in-depth analysis so you can find out more reasons for everyone in terms of spending money.

In fact changing any habit whether is good or bad is incredibly difficult, it is because of this we have to do our utmost effort to have as many good habits and as little bad habits as possible as well, so developing the habit of saving since childhood is important because in that way the child will grow and still have that habit when they grow up and make a significant difference on their life, as in this way they can begin to invest earlier and make way more money than those that did not develop the habit of saving during their childhood.

If you have the will no matter how difficult it is, it can be done.  The reason why changing habits is difficult is because we are used to do things and wanted an abrupt change.  I think that is a wrong approach in fixing our bad habits especially in spending money.  We can do it slowly until we get used to our new way of spending.

I do agree that learning the habit of saving during our early years is important because it can become our core attribute and will carry it when we are getting old.  but the thing is most of us save because we are planning to buy something that we cannot afford to buy in one go with our earnings.  Most kids are thought this kind of saving fact won't impact improving their life at all because the savings are intended to be spent on things they liked.  Instead, we should teach kids in saving not only for the things they wanted but also for the future emergencies.

Same thing as rehabilitation, and there is also this thing called withdrawal for those who're involved in abusive drugs. We've all been on a situation wherein there're so many temptations that if only we had the money, we will surely buy those things. Let's all admit it that we all want money because of something, either it's for our needs or for savings and investment. We are all here trying to survive and to sustain our daily lives.

It reminded me of the thread I read the other day about "the cost of living is already killing" or something similar to that, and yes, it's true for most of the countries surviving at the same time earning is like a living in the jungle. People from the high-class family may not notice this but mostly from the lower-class incomes to middle class, they can literally feel those burdens. This is mostly true to countries with high inflation rates and those low average income countries.

Apart from all we have discussed here, do you notice that having too much choice over things we eat, drink or anything we want, is heavily draining out of our energy ? To control spending is way more beneficial than we might think. This may sound spiritual but if you see the whole thing as a self-discipline, you'll get my point.

[Ataiwo913]

We all know that how you spend money can determine whether you are able to avoid or not unnecessary problems. Spending on unnecessary things is not always a bad idea, especially if it contributes to your happiness. But there is a line between spending money on things that genuinely brings you joy and wasting away your hard earned income making purchases that fall short of your expectations. How much do you pay attention to these things? Ask yourself this question and see how much control you have over what you purchase.