SPENDING MORE THAN YOU EARN

[Andrija Branislav]

This is very common among West Africans. And this is because they fail to plan their life accordingly with their wife. I think one should consider is present financial situation before giving birth anyhow. I'm not expecting a man with minimum wage as salary to have more than 2 children. After everything, they give birth to this children without a proper care. Imagine a 5 years old kid hawking water all about the street.

Above are images of children hawking around the street.
A lifestyle of giving birth to many children with little care should be stopped in our society for the development of the country.

Someone can search and share here completely opposite images of a person living a luxurious life and share it here for me.

I want to talk about this from my own research perspective, life has billions of different nuances and we can all know and decide to it. The balance and fairness in this life always exists, don't just look at it from an individual perspective, or a division or country to think that it is reflecting the whole truth in life. As you mentioned that they should think before having children , I know that life does not allow them to know such things and they have to live in such a condition to know what is going on right, just like someone sharing with you about a secret to becoming rich in life is to love and share what you know, both about money, knowledge, health as well as spirit. .

Sometimes the problem is really simple, but it is in the resulting simplicity that there is a complexity that we are blinded by what is going on in life. The question of our very life, what does it really mean? Brought a bunch of answers, and didn't want to question it either.

I can only say that what you have said shows that life is complex and multifaceted, and that one should consider various perspectives before making a judgement. I mean the importance of balance, fairness and personal experience in understanding life and maybe some people might find meaning in their other relationships in the work to live it.

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[Wakate]

Shopping with a list and Learn to day no is one of the major tools that cam help us to overcome over spending and it will limit the rate we desire to use funds especially when there is no need for it.

There are times that we might choose to go on outing and we might be thinking of spending less but without having a list of the amount we are going to spend, we may get distracted and want to spend more than the budget or the amount we are ought to spend. It is good for us to always say no to some kind of spending which might not make us to buy irrelevant things that is not of any need to us.

[huu78]

That true remember, it's important to live within your means and avoid accumulating debt. By following these tips and being mindful of your spending, you can stop spending more than you earn and improve your financial well-being, goodluck.

[Hypnosis00]

Shopping with a list and Learn to day no is one of the major tools that cam help us to overcome over spending and it will limit the rate we desire to use funds especially when there is no need for it.

I never use this way before and sometimes I get a surprise that after the shopping and groceries, I've emptied my pockets.
But I change it when reading some books and someone in our country has a program discussing budgeting. It really creates a huge impact upon following his words and tips on how to budget properly.

I could believe that we all possibly change if we have a proper education about this issue and see the value of money. But until it did not happen yet, no surprise that most of us got into heavy debt due to overspending habits.

[Ricardo11]

If you spend more than you earn, it will lead you to decline.  We have to give up the bad habit of buying unnecessary expensive things.  If you keep buying unnecessary expensive things, you will end up in debt.  And later you will have a lot of trouble paying off that debt and you will be mentally broken.  We should control our spending.  Make a list of your monthly expenses.  Spending according to that list will keep your expenses under control.

[Fredomago]

That true remember, it's important to live within your means and avoid accumulating debt. By following these tips and being mindful of your spending, you can stop spending more than you earn and improve your financial well-being, goodluck.

You need to have the right discipline to maintain this action, I mean we can always say that the right way to minimize your expenses is to only buy what you need and not what you want, but in reality people are tempted to buy what he wants and not what he need, it's a reality in life that most of the time we keep spending more in things that we really don't need.

Materially speaking, we are spending more money than what we supposedly can afford, pushing us to take loans and most of the time that's the reason why we have that hardship in life.

We can't manage our finances the right way and we are always being controlled by our lust to spend more from what we can really afford.

[Lida93]

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👉👉Use cash only
Shopping using card look more convenient and most time encourages you to buy unnecessary things even out of plans. I really observed I spend more money(even more than 20% of my salary) on airtime only any month I load airtime directly from my bank account through USSD. This is so convenient that immediately I exhausted my airtime when calling, I just dial the USSD code to get another. This doesn't help you financially. You get to stop.

For a 100 times I have being to the mall I can say I have for 80 times bought a few more items I never budgeted for before going for shopping. And that's because my debit is handy,  but you don't expect me trade my convenience for the sake of the believe that I might save more if I have to go with cash at hand instead of my card.

There certain times that having the card could be a life saver where your cash is exhausted and you just remembered you needed to get something very needful at home.  One just have to discipline himself to spend based on scale of preference be it with cash or card. Simple.

Knowing your Credit and Debit Card Number offhand isn't helpful for you. It makes you shop unnecessarily online. Using cash-only envelope budgeting system can help you minimize your spendings and sticks to budget.

Practically disagree with this part as there's no way you can't have knowledge of your password or card number offhand. No way, except there's a memory problem somewhere.

👉👉Shopping with a list
This is a lifesaver and a game changer. It’s so simple! Literally, all you have to do is write down what you need in the house that week. Make the list, and stick to it. If you only need to get chicken and vegetables and some pasta at the house for the week, there’s no reason for you to be going to the snack food section. It’s a trap!

Shopping with a list is another wonderful form of mitigating unnecessary purchases items in the market. It's like a roadmap, a route already set to be followed and digressing becomes a bit difficult except in rare cases.

[blockman]

If you spend more than you earn, it will lead you to decline.  We have to give up the bad habit of buying unnecessary expensive things.  If you keep buying unnecessary expensive things, you will end up in debt.  And later you will have a lot of trouble paying off that debt and you will be mentally broken.  We should control our spending.  Make a list of your monthly expenses.  Spending according to that list will keep your expenses under control.

It all starts with trying to please people and when you've got that passion to think of what others should think about you, you'll be having that compulsive buying even with those things that you don't really need. Someone thinks that he's rich when he buys those luxuries and expensive things but then ends up broke because that's not really a thing for rich people. You can buy those things when you're actually rich and you deserve those things because they can lift you up mentally and emotionally but if you're not able to attain it and that's going to eat up a lot from your savings, don't do it. Most of these rich people are spending for luxuries because they can and that's an easy spending for them because they've probably earned it from their investments and profits or shares easily. But going there is the hardest part of it at the start that only a few people sees.

[Alpha Marine]

👉👉Create a Budget (or Improve Your Existing Budget)
99% of the trouble that people have with money isn’t that there isn’t enough of it but that there is no plan for it once you actually get it. Your budget (either weekly or monthly) should consider your income and your expenditure. Guide your spendings for the week or month with the budget made. This might be hard at first, but having that extra cash in hand, definitely worth the effort.

Aside from having a budget, it will be good to develop the habit of not going over your budget. Most of the time people have a budget but are not disciplined enough to stick to that budget. I am part of those people.
Having a budget is one thing, having the discipline to not go above the budget except when totally necessary is another thing.

👉👉Use cash only
Shopping using card look more convenient and most time encourages you to buy unnecessary things even out of plans. I really observed I spend more money(even more than 20% of my salary) on airtime only any month I load airtime directly from my bank account through USSD. This is so convenient that immediately I exhausted my airtime when calling, I just dial the USSD code to get another. This doesn't help you financially. You get to stop. Knowing your Credit and Debit Card Number offhand isn't helpful for you. It makes you shop unnecessarily online. Using cash-only envelope budgeting system can help you minimize your spendings and sticks to budget.

This is not viable. I don't like walking around with cash. If I had my way I wont hold any single cash on me at all time. I prefer paying for everything with cash. Its easier and safer that way. Yea, sometimes i spend above above my budget, but that's where the discipline comes in.

[coupable]

👉👉Shopping with a list
This is a lifesaver and a game changer. It’s so simple! Literally, all you have to do is write down what you need in the house that week. Make the list, and stick to it. If you only need to get chicken and vegetables and some pasta at the house for the week, there’s no reason for you to be going to the snack food section. It’s a trap!

I came from a poor family we really always do this since we only have budget for this food and we shouldn't exceed on it because if we do we will got short on other things , this only applies if you really on tight budget but when I've got a family i do always prioritize our food so that we can eat healthy and delicious food that is why whenever i do have extra on my salary I put it in food to buy so that we can purchase more and meaning of that it will take more days before we will buy again.

Your experience proves the difference between the mentality of the average person (with an average income) and the mentality of the business owner. The first spends his life trying to reconcile incomes and expenses by keeping pressure on expenses since incomes are limited, while the second (business owner) seeks to increase incomes to match expenses.
Practically, you are not required to spend on luxury needs, but in a consumer society, I think it is wise to diversify sources of income to enjoy consumption. Low-income people cannot continue to pressure expenses indefinitely, so they quickly fall prey to debt.

[romero121]

If you find yourself spending more than your earnings, then you can realise that you're destroying your financial stability. In all means calculated spending gives the best outcome. Not everyone is able to make calculated living, but things were made easier with the existence of more smartphone applications which can be used. The applications are developed in auch a way, even the uneducated can use it without flaws.

It is evident that most of the middle class family sit one day and allocate funds based on the income. Such families have reached the next level of living through their best practice of financial management.

[Bitcoin_people]

Do people actually spend more than they earn? I am yet to understand how it works. If people actually spend more than they earn, the extra money they spend, where does it come from?

People tend to think of earning more than they earn. But I try to spend more than I earn and I think about saving later when I don't have any money. Basically people who spend more than they need get their money by borrowing money from their friends and then spend it. I often do this when I run out of money and spend money from family or friends. And then there is a lot of stress because if the income decreases then the spending also decreases. I think saving money is about trying to take every moment of life in a good position. So I would like to say to those who spend more money than they need, saving money is most important.

[Sir Legend]

Now it's easier for us to get information, the presence of social media makes all events at hand, and fortunately cryptocurrencies are available which make it easy for us to provide assistance to those in need, and of course the assistance we provide even though we think it's small it will be very useful if collected and distributed to those in need.

[jokers10]

...
There certain times that having the card could be a life saver where your cash is exhausted and you just remembered you needed to get something very needful at home.  One just have to discipline himself to spend based on scale of preference be it with cash or card. Simple.
...

Oh, I know one guy who spent twice of his monthly budget when started using a credit card. It is much easier for him to stay in budget if he uses cash only. Of course we can say that everyone should be careful with expenses and other things like that, but if he can easily manage cash and has problems with cards why to make him using cards? Each of us has our own characteristics and it is good to know ours and use them as wise as possible. I'm okay with cards, he's not, so we can use different tools but still stay in own budget, right? I think everyone can manage own money the way it easier for them as long as they stay in their budget and don't need help with that.

[uswa56]

...
There certain times that having the card could be a life saver where your cash is exhausted and you just remembered you needed to get something very needful at home.  One just have to discipline himself to spend based on scale of preference be it with cash or card. Simple.
...

Oh, I know one guy who spent twice of his monthly budget when started using a credit card. It is much easier for him to stay in budget if he uses cash only. Of course we can say that everyone should be careful with expenses and other things like that, but if he can easily manage cash and has problems with cards why to make him using cards? Each of us has our own characteristics and it is good to know ours and use them as wise as possible. I'm okay with cards, he's not, so we can use different tools but still stay in own budget, right? I think everyone can manage own money the way it easier for them as long as they stay in their budget and don't need help with that.

it all depends on ourselves and of course only we ourselves understand how we manage money, I think the presence or absence of a card is the same because all of us manage it ourselves but there are limits that some people cannot control so often unpredictable loss of control.
for me personally who can't control money well, I don't like using cards because I've tried to do it and it's very detrimental for me.
controlling finances, not everyone can do it right, that's why it's important to keep or limit yourself so that things don't happen out of control.

[Joshapat]

The world is currently in a difficult condition, poverty in many countries continues to increase, many people find it difficult to eat 3 times a day, it is difficult to get clean water and so on, unfortunately many rich people are only busy showing off their wealth for their own pleasure and they don't care about the poor.

[bettercrypto]

With the use of cash only, I can kind of relate to this, when my debit card gets full, often even though the ones in my cart are not in my plan and are placed in my account in an online shop, I suddenly check out.

        In this part, it seems like I haven't been able to stop myself that I should reduce this habit of mine because I often buy items here that I don't really need, just got tempted only.

[jokers10]

it all depends on ourselves and of course only we ourselves understand how we manage money, I think the presence or absence of a card is the same because all of us manage it ourselves but there are limits that some people cannot control so often unpredictable loss of control.
for me personally who can't control money well, I don't like using cards because I've tried to do it and it's very detrimental for me.
controlling finances, not everyone can do it right, that's why it's important to keep or limit yourself so that things don't happen out of control.

That's right, we all are different and this is our advantage. Luckily we have different forms of money which can be useful for different people and everyone can make own choice. Main thing is to know your strengths and weaknesses and to behave so to strengthen your strengths and try to escape situations when your weaknesses can bring any damage. If you can control your budget with cash it is great and a wonderful solution. I'd say that it is not a problem like others have who can't stay in budget anyhow and who need some help from outside.

[justdimin]

The world is currently in a difficult condition, poverty in many countries continues to increase, many people find it difficult to eat 3 times a day, it is difficult to get clean water and so on, unfortunately many rich people are only busy showing off their wealth for their own pleasure and they don't care about the poor.

I think the sad part is that rich people are not even getting rich to spend that money neither, like there is no point of it after a while. Look at Elon Musk, he became richest person in the world, and he lives in a tiny house, and he doesn't really spend money that much, look at his life style, he could live off like 20-30 million a year at tops, that would be more than enough. Whereas we are talking about him having 100+ billion, at some point even as much as 300+ billion dollars.

There is no reason to have that much money, and it's personal one, when you look at the corporations it's even worse. No company that worths near trillion dollars or whatever levels, should make hundreds of billions in revenue and pay this little tax neither, should jack that up, close to 99%, because nobody needs that much profit, only shareholders profit from that, we should consider taxing and using that to help the whole nation instead. I am not even American, that is just my idea, after a while people just don't need that much.

[GigaBit]

You can live your whole life on credit, creating more and more debt. But who will pay for all this? The answer is your relatives. But do they deserve such a burden? Maybe it's better to moderate your desires - instead of an expensive vacation go to the woods, instead of a new smartphone just keep using the old one? 

The worst of one's life is dying with debts. When someone dies he/she shouldn't have debts. We need to prepare for such a level of living and move accordingly. This isn't an hard task, because most of the people's debts were through unwanted expenses. Maybe some practice to limit the spending and living according to our earnings could make life better. Some people never think about repaying the debts, for them it looks easy. People who have the mind to repay always have frustration and doesn't have free mind to think big. This itself ruin one's life and never lets them grow.

Yes, now a days most human being who are in debt they used to spend more and needed a lot of money to cover these expenses which they covered through loans. If the loan is used for any investment, then the loan can be repaid, but if one uses the loan for his daily activities, then it becomes a big burden at a time. A man should pay off the debt quickly if he is in debt for any reason. The point here is that it is easy to get into debt but it is very difficult to pay it. So one should focus on how to manage life without getting into debt. Spending in excess of income means incurring debt. So we should spend money according to our income.