Having a problem a Personal Finance?

[Hanadawa]

Maybe the reason you are not making progress is because you spend a lot

Sometimes what makes someone "Spend a lot of money", is because they don't have enough money to save as an emergency fund. Inflation is a disaster. Someone who was paid $100 five years ago is certainly different from someone who was paid $100 today. The problem is that many people working in developing countries are not seeing their wages rise enough to overcome inflation. That is a case that I often find in my country. Average People's salaries are around $300 - $400 per month. In rural areas it is much smaller.

If they do not "spend" the money they have earned that month, then they will not be able to meet their daily needs. Inflation growth of around 5-10% per year really makes people have no hope of saving their money.

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[bayu7adi]

If they do not "spend" the money they have earned that month, then they will not be able to meet their daily needs. Inflation growth of around 5-10% per year really makes people have no hope of saving their money.

I've noticed your frequent postings on the Local Board (in Bahasa Indonesia), and it seems that you are, like me, an Indonesian.

Some of the information you've shared holds true, and there are still many individuals who struggle to manage their income for a month's sustenance, especially those residing in remote areas.

I reside in an area where the average salary for ordinary employees is approximately 2,000,000 IDR, equivalent to about US $130. This amount is indeed modest when compared to salaries in other countries. Managing such limited funds for a month's expenses is undeniably challenging, leaving no room for savings.

The only means to improve their financial situation is to break free from this predicament and set higher monthly income targets to enable savings for the future. Practicing frugality alone can take a toll on their well-being, given the relatively high cost of nutritious food.

By aiming for higher earnings and prudent financial planning, they can hope to secure a more stable economic future. And once they have a larger income, I believe they can begin to apply economic principles that may be acquired through reading books.

[Y3shot]

Maybe the reason you are not making progress is because you spend a lot

Sometimes what makes someone "Spend a lot of money", is because they don't have enough money to save as an emergency fund. Inflation is a disaster. Someone who was paid $100 five years ago is certainly different from someone who was paid $100 today. The problem is that many people working in developing countries are not seeing their wages rise enough to overcome inflation. That is a case that I often find in my country. Average People's salaries are around $300 - $400 per month. In rural areas it is much smaller.

If they do not "spend" the money they have earned that month, then they will not be able to meet their daily needs. Inflation growth of around 5-10% per year really makes people have no hope of saving their money.

The price of things have become so expensive because of inflation,  good amount of money that used to very valuable but this days it doesn't have any worth. The inflation is making things look as if people are mismanaging their money. In this present days it is not even easy to save money, the only solution for people to be able to save some money is either by getting a good paying job or by having aside hustle job and also a main job, this will help in getting some left over money as savings.

[Strongkored]

       -   You, yes, you. Are you tired? Can't make progress? Or every time you move forward, something bad always happens? Are you in a situation where you have to start from scratch again? Where does your problem start? in money? Why do you always have no money? Is it because of your responsibilities for your family or because you just don't have spending discipline? It is important that you know what the root of your problem is? Maybe the reason you are not making progress is because you spend a lot, so every time you have an emergency, you move your savings? Or sometimes you can borrow a cape. How to handle money What is real personal finance? What do you have to do to learn it? There are some things that can help you in this matter, and some of them are:

[a.] Read books related to personal finance.

[b.] Always hang out here on the Bitcointalk forum; you can see and learn a lot from this platform.

[c.] Watch videos that can give you inspiration to become better. And mingle with people who have a positive outlook on life.

Reading this makes me feel like I'm listening to an advertisement for a seminar about financial freedom.
There are many things that can often make us run out of money, we have only received our salary for a few days but the money remaining in our wallet and account is not enough to support our living even for just one week, it is strange but this often happens when we live in developing countries where income can only be obtained from one job because getting a double job is difficult unless we are a skilled worker.
Reading books about finance is very good as well as reading advice from financial experts, but what is no less important is looking for additional income so that you can not only fulfill all your life's needs and desires but also invest which will give us the opportunity to have a better economy in the future.

[Davian144]

Sometimes what makes someone "Spend a lot of money", is because they don't have enough money to save as an emergency fund. Inflation is a disaster. Someone who was paid $100 five years ago is certainly different from someone who was paid $100 today. The problem is that many people working in developing countries are not seeing their wages rise enough to overcome inflation. That is a case that I often find in my country. Average People's salaries are around $300 - $400 per month. In rural areas it is much smaller.

What is the story of someone who spends a lot of money in their life while they don't have more money to save and it seems a bit unreasonable when they consume excessive money in their life, even though they don't have any savings? However, the salary value that you describe seems to be very real for every worker because in the past $100 could cover several living needs, whereas currently $100 is only enough for a week's living needs if someone uses it sparingly.

If they do not "spend" the money they have earned that month, then they will not be able to meet their daily needs. Inflation growth of around 5-10% per year really makes people have no hope of saving their money.

The problem is that the inflation rate still occurs every year so that it still makes it difficult for everyone to save more comfortably, but for now there are still many ways and ways for everyone to save in their life. One of them is to work more hours at different jobs so that the level of income can increase and part of it can be saved even though looking for work now is not an easy matter for everyone who generally has different skills.

[xSkylarx]

Maybe the reason you are not making progress is because you spend a lot

Sometimes what makes someone "Spend a lot of money", is because they don't have enough money to save as an emergency fund. Inflation is a disaster. Someone who was paid $100 five years ago is certainly different from someone who was paid $100 today. The problem is that many people working in developing countries are not seeing their wages rise enough to overcome inflation. That is a case that I often find in my country. Average People's salaries are around $300 - $400 per month. In rural areas it is much smaller.

If they do not "spend" the money they have earned that month, then they will not be able to meet their daily needs. Inflation growth of around 5-10% per year really makes people have no hope of saving their money.

The price of things have become so expensive because of inflation,  good amount of money that used to very valuable but this days it doesn't have any worth. The inflation is making things look as if people are mismanaging their money. In this present days it is not even easy to save money, the only solution for people to be able to save some money is either by getting a good paying job or by having aside hustle job and also a main job, this will help in getting some left over money as savings.

You'll need to sacrifice some of your time like your rest or time for your family because you have a side job that you need to go to. Before this was not the norm for people because one job was enough but now it is needed so that we can cope with the inflation because if we are not doing this we struggle and we can't buy our needs. Right now, people are in discipline mode mostly those who are minimum wage earners because their salary is not enough. That is only the solution as we can't rely on the government to increase the minimum wage so we will find our way to have another source of income.

[slapper]

Maybe the reason you are not making progress is because you spend a lot

Sometimes what makes someone "Spend a lot of money", is because they don't have enough money to save as an emergency fund. Inflation is a disaster. Someone who was paid $100 five years ago is certainly different from someone who was paid $100 today. The problem is that many people working in developing countries are not seeing their wages rise enough to overcome inflation. That is a case that I often find in my country. Average People's salaries are around $300 - $400 per month. In rural areas it is much smaller.

If they do not "spend" the money they have earned that month, then they will not be able to meet their daily needs. Inflation growth of around 5-10% per year really makes people have no hope of saving their money.

Inflation does, in fact, make it harder and harder to buy things. With prices going up and pay staying the same, the situation is a real economic stagnation. You have done a good job of describing the hard lives of many people in poor countries. The fact that $100 is worth less now than it was five years ago is a great example of this economic decline.

Also, when most of a person's income goes to meeting immediate wants, the idea of saving seems far away, almost like a myth. Your point that salaries are even lower in rural places is an important one. You said that inflation is going up, and since wages aren't going up at the same rate, many people's finances are hard and empty. Possible solutions could be found in both government policies and financial schooling, so that people know how to make their money go further.

[Lorence.xD]

Maybe the reason you are not making progress is because you spend a lot

Sometimes what makes someone "Spend a lot of money", is because they don't have enough money to save as an emergency fund. Inflation is a disaster. Someone who was paid $100 five years ago is certainly different from someone who was paid $100 today. The problem is that many people working in developing countries are not seeing their wages rise enough to overcome inflation. That is a case that I often find in my country. Average People's salaries are around $300 - $400 per month. In rural areas it is much smaller.

If they do not "spend" the money they have earned that month, then they will not be able to meet their daily needs. Inflation growth of around 5-10% per year really makes people have no hope of saving their money.

The price of things have become so expensive because of inflation,  good amount of money that used to very valuable but this days it doesn't have any worth. The inflation is making things look as if people are mismanaging their money. In this present days it is not even easy to save money, the only solution for people to be able to save some money is either by getting a good paying job or by having aside hustle job and also a main job, this will help in getting some left over money as savings.

You'll need to sacrifice some of your time like your rest or time for your family because you have a side job that you need to go to. Before this was not the norm for people because one job was enough but now it is needed so that we can cope with the inflation because if we are not doing this we struggle and we can't buy our needs. Right now, people are in discipline mode mostly those who are minimum wage earners because their salary is not enough. That is only the solution as we can't rely on the government to increase the minimum wage so we will find our way to have another source of income.

This is my prof said in school cause some of my classmates before were absent in a exam day due to they are having a part time job. They'll have to sacrifice one cause if you tried to keep both in the same time, it would eventually destroy your mental and physical health which is really draining. Cause mostly in the minimum wages pay work are based on the time you've spent not on your efforts. To be honest I don't find having two jobs which both are minimum wages as a solution to these issues. It's either you'll wait for the government to take action about the salary or explore things that could get you out on that situation like trying small businesses for starters, mine was buy and sell where I'm having a little profits.

[Mame89]

I really agree with points A and C. For example, with point A, I read a book entitled the psychology of money, personal finance and how I manage money has changed drastically, as well as watching Andrew Tate, almost all of my life I still remember it. he said, you don't need continuous motivation, the most important thing is to be disciplined

All three of the points conveyed by the OP are actually correct to increase our insight in managing finances well so that there are no problems with our finances in the future. The important points you convey are the main key to all problems, be disciplined and consistent. Because for me getting money is important. but, managing money is much more important.
The following are examples of mistakes in managing money so that we have personal financial problems.
1. Income goes up, lifestyle goes up
2. Not Making a Monthly Budget (Planning)
3. Not keeping records of monthly expenses
4. Don't understand the difference between Post Nit Post Bon see 5 financial posts!
5. Carry out consumer debt to meet postal payments
6. Think the credit card limit (debt) is their money
7. Shop for what you want, not what you need
8. Don't understand savings posts and investment posts
9. Investing because of Fomo (bandwagon phenomenon)

[xSkylarx]

Maybe the reason you are not making progress is because you spend a lot

Sometimes what makes someone "Spend a lot of money", is because they don't have enough money to save as an emergency fund. Inflation is a disaster. Someone who was paid $100 five years ago is certainly different from someone who was paid $100 today. The problem is that many people working in developing countries are not seeing their wages rise enough to overcome inflation. That is a case that I often find in my country. Average People's salaries are around $300 - $400 per month. In rural areas it is much smaller.

If they do not "spend" the money they have earned that month, then they will not be able to meet their daily needs. Inflation growth of around 5-10% per year really makes people have no hope of saving their money.

The price of things have become so expensive because of inflation,  good amount of money that used to very valuable but this days it doesn't have any worth. The inflation is making things look as if people are mismanaging their money. In this present days it is not even easy to save money, the only solution for people to be able to save some money is either by getting a good paying job or by having aside hustle job and also a main job, this will help in getting some left over money as savings.

You'll need to sacrifice some of your time like your rest or time for your family because you have a side job that you need to go to. Before this was not the norm for people because one job was enough but now it is needed so that we can cope with the inflation because if we are not doing this we struggle and we can't buy our needs. Right now, people are in discipline mode mostly those who are minimum wage earners because their salary is not enough. That is only the solution as we can't rely on the government to increase the minimum wage so we will find our way to have another source of income.

This is my prof said in school cause some of my classmates before were absent in a exam day due to they are having a part time job. They'll have to sacrifice one cause if you tried to keep both in the same time, it would eventually destroy your mental and physical health which is really draining. Cause mostly in the minimum wages pay work are based on the time you've spent not on your efforts. To be honest I don't find having two jobs which both are minimum wages as a solution to these issues. It's either you'll wait for the government to take action about the salary or explore things that could get you out on that situation like trying small businesses for starters, mine was buy and sell where I'm having a little profits.

That is a good initiative but we do have different methods that will work on us, others will be the same with you starting your business, others want to have another job which both will work as long as you haven't scammed other people for that money. Also the government takes time to increase the minimum wage. The last time we felt an increase was I think way back in 2017  when it really jumped so high that most of the employees felt it  but right now we can't feel it because of the price of food.

[Hanadawa]

I've noticed your frequent postings on the Local Board (in Bahasa Indonesia), and it seems that you are, like me, an Indonesian.

Nice to meet you, Mas Bayu, Salam kenal, heheh,

The only means to improve their financial situation is to break free from this predicament and set higher monthly income targets to enable savings for the future. Practicing frugality alone can take a toll on their well-being, given the relatively high cost of nutritious food.

By aiming for higher earnings and prudent financial planning, they can hope to secure a more stable economic future. And once they have a larger income, I believe they can begin to apply economic principles that may be acquired through reading books.

Actually I can say that where I live the average income is IDR 1,500,000 - IDR 3,000,000 (around $100 - $200) per month. But if we research on the Internet, it is said that the average monthly income of Indonesians is around $300-$400. So I can feel how these people survive with little money. They can only think about how to survive from month to month, so we won't be able to talk to them about frugal living and saving. The first thing we have to do is effort and education so that they can get more money that can be used and saved for investment.

Inflation does, in fact, make it harder and harder to buy things. With prices going up and pay staying the same, the situation is a real economic stagnation. You have done a good job of describing the hard lives of many people in poor countries. The fact that $100 is worth less now than it was five years ago is a great example of this economic decline.

Also, when most of a person's income goes to meeting immediate wants, the idea of saving seems far away, almost like a myth. Your point that salaries are even lower in rural places is an important one. You said that inflation is going up, and since wages aren't going up at the same rate, many people's finances are hard and empty. Possible solutions could be found in both government policies and financial schooling, so that people know how to make their money go further.

Thank you for your kindness, sir.

I also think that the Government should step in to address this. Government indifference and corruption have left many people suffering at the poverty line. That's the first thing. Next, we have to help provide them with education and improve their skills so they can get additional income through part-time work. Because expecting them to get another, better job with a bigger salary will certainly be quite difficult. I'll skip this first. With a second or even third source of income, they can start thinking about saving and investing. Although it's not as easy as saying it, in my mind this is something that is possible to do.

[fruktik]

Facts about personal finance that many people don't take seriously.
1. If you are making less than $50 per month it means that you can't afford anything that is $50 and above the problem with people is they don't know how to manage their money you shouldn't be spending more than you are making per month and you should learn how to live under the amount that you are making every month.

What if this money is barely enough for the basic necessities for basic survival? What should I do then? It’s good to reason on a full stomach and in a warm place, but such conditions do not always exist.
What can you save from this amount? Nothing is possible. You just have to accumulate debts, because there is not enough money for food and that’s it. There is no need to type beautiful sayings from the Internet. They won't help much in real life. You should act according to the circumstances.
I'm doing a little better now than I was a few years ago due to the fact that I have a part-time job. Without her it would have been incredibly difficult. Almost on the verge of survival. There is no need to talk about investments yet, but there are small steps in this direction.

[flyingcarpet]

Facts about personal finance that many people don't take seriously.
1. If you are making less than $50 per month it means that you can't afford anything that is $50 and above the problem with people is they don't know how to manage their money you shouldn't be spending more than you are making per month and you should learn how to live under the amount that you are making every month.

What if this money is barely enough for the basic necessities for basic survival? What should I do then? It’s good to reason on a full stomach and in a warm place, but such conditions do not always exist.
What can you save from this amount? Nothing is possible. You just have to accumulate debts, because there is not enough money for food and that’s it. There is no need to type beautiful sayings from the Internet. They won't help much in real life. You should act according to the circumstances.
I'm doing a little better now than I was a few years ago due to the fact that I have a part-time job. Without her it would have been incredibly difficult. Almost on the verge of survival. There is no need to talk about investments yet, but there are small steps in this direction.

Not everyone lives in the same conditions and opportunities. Every individual strives to optimize his or her own conditions. If what you earn is not enough for you, you should work if you have the opportunity to earn additional income. Not everyone may have the opportunity to earn additional income. Getting into debt is one of the wrong things to do if we cannot pay that debt. If we can pay our debt on time when we get into debt, there is no problem.

I hope everyone will improve their conditions further with their efforts. Many people here strive for better conditions.

[KiaKia]

Facts about personal finance that many people don't take seriously.
1. If you are making less than $50 per month it means that you can't afford anything that is $50 and above the problem with people is they don't know how to manage their money you shouldn't be spending more than you are making per month and you should learn how to live under the amount that you are making every month.

What if this money is barely enough for the basic necessities for basic survival? What should I do then? It’s good to reason on a full stomach and in a warm place, but such conditions do not always exist.
What can you save from this amount? Nothing is possible. You just have to accumulate debts, because there is not enough money for food and that’s it. There is no need to type beautiful sayings from the Internet. They won't help much in real life. You should act according to the circumstances.
I'm doing a little better now than I was a few years ago due to the fact that I have a part-time job. Without her it would have been incredibly difficult. Almost on the verge of survival. There is no need to talk about investments yet, but there are small steps in this direction.

Thanks for you reply, see mister, I don't just talk, I am a living proof of all what I have said on this forum, there was a time where I couldn't even make 50$ a month, and I was into crypto at the time, I was barely surviving at the time, I eat food once in a day and looked so thin in and out, I am not shaming anybody, I am simply saying that investment isn't for those who make less money, it's never going to be easy, in my own past years, I have lived less under a 50$ every month, and I pray such will never happen to me again.

I've seen people making money per month and using 95% of the money to invest in crypto, I have also seen those who use their salary to buy costly things that won't bring them money, everyone deserves to spend their hard earned money anyhow they want.

If you are making less money it's a matter of choice to change and improve your monthly earnings if you want, if anyone is in such situation, the solution is to improve yourself, find better paying source, that's when things will start getting better, you will be able to feed yourself and you will be able to build your future too.

[fruktik]

Not everyone lives in the same conditions and opportunities. Every individual strives to optimize his or her own conditions. If what you earn is not enough for you, you should work if you have the opportunity to earn additional income. Not everyone may have the opportunity to earn additional income. Getting into debt is one of the wrong things to do if we cannot pay that debt. If we can pay our debt on time when we get into debt, there is no problem.

I hope everyone will improve their conditions further with their efforts. Many people here strive for better conditions.

It's not about finding more work. It’s about how much personal time remains after all this. What to do with family, if you have one? After all, it also requires a lot of time to be devoted to it. How to combine all this without going crazy?
This is the question you need to answer yourself first. Without this, all reasoning is meaningless. I have already personally gone through all this and I can say that this path is very problematic and a dead end.

[indo1]

motivation is very necessary. because some people who don't take action or have knowledge will not want to jump in here or will be afraid to take the step. even though by taking a step they will find out. I'm sure when we experience financial problems we experience the same problems. if we want to spend money it will definitely be difficult. but without realizing it, money will continue to circulate in and out even if we hold on. Therefore, seeking experience, community and also having the courage to take action is the best way to overcome personal financial problems.