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Author Topic: this makes a huge impact on the economy.  (Read 768 times)
Youngkhngdiddy
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November 22, 2023, 12:05:43 PM
 #61

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

Do you also find yourself spending more on you payday?, or you approach your expenses differently?
  Payday in this country is always a day of joy because that day your whole cravings will be satisfied. Although financially it's wrong, it just shows lack of financial plans. On a normal pay day, one just has to meet his needs right, it's wrong to go about spending unhealthily. For every right thinking person, he'll have a number of things he'd need to do for himself with his salaries and added to that list, there'll be persuasion in the mind to get unnecessary things too, now it takes a reasonable person to know how he makes his expenses from his salary.
  That’s finance management as well, it's part of what would help in financial growth too. Do not go about fulfilling all your heart desires, satisfying all your cravings both the important and less important ones, rather sit back, make plans, budget, check out every area of yourself and list out the very important things you'd need to settle out first with your salary and most importantly, don't forget to put in your savings first in the budget because it's definitely what will save you when rainy days come.
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November 22, 2023, 01:21:59 PM
 #62

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

Do you also find yourself spending more on you payday?, or you approach your expenses differently?
  Payday in this country is always a day of joy because that day your whole cravings will be satisfied. Although financially it's wrong, it just shows lack of financial plans. On a normal pay day, one just has to meet his needs right, it's wrong to go about spending unhealthily. For every right thinking person, he'll have a number of things he'd need to do for himself with his salaries and added to that list, there'll be persuasion in the mind to get unnecessary things too, now it takes a reasonable person to know how he makes his expenses from his salary.
  That’s finance management as well, it's part of what would help in financial growth too. Do not go about fulfilling all your heart desires, satisfying all your cravings both the important and less important ones, rather sit back, make plans, budget, check out every area of yourself and list out the very important things you'd need to settle out first with your salary and most importantly, don't forget to put in your savings first in the budget because it's definitely what will save you when rainy days come.

Here in our country, the day of payday for most employees, which I don't understand, is a feeling for many that they are like one-day millionaires. This is how most people work here. feeling social but trying hard, feeling high-class but not either.

Going along with the trend but still trying hard, after a few days of pay day, there is no money; it's all debt, the way other employees do here. So most of those who work here lack financial management.

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November 22, 2023, 07:09:16 PM
 #63

Of course they can spend more than usual on their salary dates because this is where they can have most money. Your dad owns a grocery store, so the items that are being sold their are mostly essentials that people needs to live, therefore I see nothing wrong if people spend more money on these items.

You are right that this and other factors are needed to be considered before we start a business so that we will know if what type of customers we are targeting and we can waste less of our resources. It's crucial for our success. Each of us are not the same. If you know this, you won't be surprised on why some people are like that (can spend recklessly). We can try to educate them financially if we are really concerned about them, so that they can also improve their lives.

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November 22, 2023, 07:25:02 PM
 #64

I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

Do you also find yourself spending more on you payday?, or you approach your expenses differently?

This also depends on how much those people are earning as a salary. While I was growing up and doing some side hustles, I worked in two grocery stores. In my country, payment usually comes in around the 28th day of the month through the first week of the next month, and during that period, you see lots of people trooping in and out of the supermarket. I know that depending on where you are working, salary varies, and there are people earning such a huge sum that they can afford to buy anything they want and it will not affect them, while some people too will only buy as much as they can afford. Definitely, those who ever spend more than they have earned will feel the consequences of their action. So, it's left for everyone to make the choice of spending judiciously so that they don't get affected by more important bills left unpaid.

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November 22, 2023, 07:34:17 PM
 #65

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

Do you also find yourself spending more on you payday?, or you approach your expenses differently?
If you live in poor country, there is a very high chance that your customers are not spending more than they don't need, probably in your area many people live from paycheck to paycheck and that's why you see a quick burst in sales on payday. There are also many parents who don't want their kids to feel sad and try to buy everything even if that's hard to afford for them.

If your society does not face financial shocks such as imposed inflation or sudden unemployment, then people's spending habits will inevitably be like this, as most people tend to feel that they are rich and thus spend more money whenever this money is available. This feeling gives them a feeling that what they are doing is great, whether it is jobs or businesses. service and Adrenalin dosage to continue working hard, even if they know that at the end of the month they may not be able to get the same quality of life.
No, it matters where he lives. When people live from paycheck to paycheck, they buy necessary items when they get their salary and rarely have to spend money on other things but in rich countries, if someone spends a lot of money during paydays then they are the ones who buy what they don't need to buy. That's very common issue in USA as I have heard.

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November 22, 2023, 08:08:11 PM
 #66

As someone who experienced living paycheck to paycheck, you have no choice but to time your buys (especially the essential ones like grocery) during from when you'd get paid. If you drag it out in the next few days and let other expenses take your focus, you're literally leaving out the chance for you to buy those things you wanted. And I don't really care about the economy at this point cause to some people, these simple things in life are what gets them going, and while this is not going to fare in the long run, it's not as if these people didn't know this yet.

Let people enjoy things, but be compassionate enough to inform and empathize with their situation. It's hard to live and get by on a budgeted basis from a salary that barely keeps you alive to begin with.



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November 23, 2023, 06:25:34 PM
 #67

It's not huge impact, but it's what should be expected.

When it comes to economy of a country, people need to spend their money than to hoard it, but money that they spend must be anything that related to their country. If they spend it to outside the country, it will decrease the money circulation, resulting some people get less money than before.

So if you want to support your country, become a freelancer or exporter are good choice as you're making money from the other country.

Exactly because the country's economy is not good enough, people spend money to hold because the country's economy is not good enough. Let me say that if you are not rich, you can hold your money for a long time because some people have families to feed on, and when they collect their salary they need to spend too much money to satisfy them What I mean is that if you are collecting a paycheck, that is how difficulties will come for you, and how your salary is that this is how you will be able to handle problems. Some people don't have enough to do with their money because of debt, so after they collect money dey use it and pay there dept without no plan to self money.

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November 23, 2023, 08:23:55 PM
 #68

Do you also find yourself spending more on you payday?, or you approach your expenses differently?
If you notice that someone spends a lot on their payday or shortly after their payday, It does not always mean that they are spending out of budget. In some of the budgets of these people, they have budgeted to buy these things in bulk. If you buy things in bulk to last for a period of time, you will find yourself spending much money on some days than on some other days, It is normal, and may actually help you spend money better than when decide to not buy in bulk but manage what you receive and keep buying things in small quantities.
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November 23, 2023, 09:29:57 PM
 #69


Do you also find yourself spending more on you payday?, or you approach your expenses differently?
This goes to show you how we as humans plan our lives around our salary. It is almost as if we are leaving to work for our salary and spend it the moment we are paid. And most of these expenses made when your salary has been received is impulse buying. Which is why it Is not bad of you wait it out for a few days before making any expenses. You will have more clear and logical thinking if you do so.
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November 24, 2023, 03:48:31 AM
 #70

This goes to show you how we as humans plan our lives around our salary. It is almost as if we are leaving to work for our salary and spend it the moment we are paid. And most of these expenses made when your salary has been received is impulse buying.

Speak for yourself. Some of us have a pre-made budget, with all the income and expenses and have been saving for a long time, so in reality payday has long since become just another day. Moreover, if I go to buy clothes in a physical store, for example, I wait until the end of the month because I know that there won't be many people, and I certainly do not go to the beginning when everyone has been paid because it is full. I like choosing my clothes quietly.

Which is why it Is not bad of you wait it out for a few days before making any expenses. You will have more clear and logical thinking if you do so.

Agreed, but better if you get used to budgeting.

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November 24, 2023, 04:18:50 AM
 #71

As someone who experienced living paycheck to paycheck, you have no choice but to time your buys (especially the essential ones like grocery) during from when you'd get paid. If you drag it out in the next few days and let other expenses take your focus, you're literally leaving out the chance for you to buy those things you wanted. And I don't really care about the economy at this point cause to some people, these simple things in life are what gets them going, and while this is not going to fare in the long run, it's not as if these people didn't know this yet.

Let people enjoy things, but be compassionate enough to inform and empathize with their situation. It's hard to live and get by on a budgeted basis from a salary that barely keeps you alive to begin with.

It's true, but it's very different from society's view if they see us earning a salary but still living in poverty and always considering this to be impossible because we see it visually. On the one hand, the family's needs must be met, on the other hand there must also be daily costs for traveling to the office and if we count, only 15 days can survive with the total salary we earn in one month. Yes. that's life and live it with a happy heart.
     
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November 24, 2023, 05:25:41 AM
 #72

As someone who experienced living paycheck to paycheck, you have no choice but to time your buys (especially the essential ones like grocery) during from when you'd get paid. If you drag it out in the next few days and let other expenses take your focus, you're literally leaving out the chance for you to buy those things you wanted. And I don't really care about the economy at this point cause to some people, these simple things in life are what gets them going, and while this is not going to fare in the long run, it's not as if these people didn't know this yet.

Let people enjoy things, but be compassionate enough to inform and empathize with their situation. It's hard to live and get by on a budgeted basis from a salary that barely keeps you alive to begin with.

It's true, but it's very different from society's view if they see us earning a salary but still living in poverty and always considering this to be impossible because we see it visually. On the one hand, the family's needs must be met, on the other hand there must also be daily costs for traveling to the office and if we count, only 15 days can survive with the total salary we earn in one month. Yes. that's life and live it with a happy heart.
     
but no matter what, life has to go on, the necessities of life seem to continue to rise, while our salaries don't follow suit, so it's true that in the middle of the month money is running low, sometimes there isn't enough until the end of the month, but we can still survive, from there I'm surprised, luck really isn't enough. It can be calculated mathematically, unlike salary, as long as we are willing to try we must be able to survive with changing situations

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November 24, 2023, 08:35:49 AM
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 #73

As someone who experienced living paycheck to paycheck, you have no choice but to time your buys (especially the essential ones like grocery) during from when you'd get paid. If you drag it out in the next few days and let other expenses take your focus, you're literally leaving out the chance for you to buy those things you wanted. And I don't really care about the economy at this point cause to some people, these simple things in life are what gets them going, and while this is not going to fare in the long run, it's not as if these people didn't know this yet.

Let people enjoy things, but be compassionate enough to inform and empathize with their situation. It's hard to live and get by on a budgeted basis from a salary that barely keeps you alive to begin with.

It's true, but it's very different from society's view if they see us earning a salary but still living in poverty and always considering this to be impossible because we see it visually. On the one hand, the family's needs must be met, on the other hand there must also be daily costs for traveling to the office and if we count, only 15 days can survive with the total salary we earn in one month. Yes. that's life and live it with a happy heart.
     
but no matter what, life has to go on, the necessities of life seem to continue to rise, while our salaries don't follow suit, so it's true that in the middle of the month money is running low, sometimes there isn't enough until the end of the month, but we can still survive, from there I'm surprised, luck really isn't enough. It can be calculated mathematically, unlike salary, as long as we are willing to try we must be able to survive with changing situations

We shouldn't look for a luck to survive and for current harsh economic condition of the world we should find multiple ways to earn money. Lucky for us to know about crypto because we already have an idea on where to earn extra income here. We need to work hard nowadays since if we just rely on single source of income for sure we will be in trouble if bad faith came and that main income stream you have stops. That's why its important for us to think about for many ways on how to have multiple cash flow so that our family can live a comfortable life.

Current economic state on each country becoming more worst that's why we need to adopt on changes since if we are so lazy and will not step out on our comfort zone for sure in future we will be in trouble with that.

R


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November 24, 2023, 11:36:16 AM
 #74

Current economic state on each country becoming more worst that's why we need to adopt on changes since if we are so lazy and will not step out on our comfort zone for sure in future we will be in trouble with that.
Changing the culture of splurging money after receiving a paycheck seems more crucial to fix, as it will likely persist when someone gets a bigger salary. The distribution of money becomes imbalanced. When someone gets a larger sum, the chances are they'll elevate their lifestyle, adding luxurious items to seek recognition and show off. This mindset really needs to be changed first.

Stepping out of the comfort zone is truly the best choice. Apart from testing someone's mental resilience, the comfort zone is essentially a prison that will only limit their potential. It seems like there are still many people unwilling to take bigger risks, and as a result, they don't have the opportunity to earn more income.
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November 24, 2023, 12:28:15 PM
 #75

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
The truth is that this is just the character of every salary earners how they live their life, as it is getting close to when they will recieve their allowance they have already budgeted what they will spend their money on for the month.  Most salary earners have only one source of income and it is expected for them to depend on their salary for what they really want. From the look of the economy right now that things are very expensive you can't expect salary earners not to temper with their salary just because to save money.  People still need money to get themselves the things they really need.

R


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November 24, 2023, 12:38:01 PM
 #76


Do yu also find yourself spending more on you payday?, or you approach your expenses differently?

Yes, this is a fairly common phenomenon and I have noticed it in my behavior. When I increased my income, I stopped sewing clothes and looking for discounted goods. And this is wrong. You need to save extra money in assets, telling yourself that they are not available for spending. It is possible to transfer money to an irrevocable bank account so that you do not want to spend it.

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November 24, 2023, 12:44:38 PM
 #77

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

Do you also find yourself spending more on you payday?, or you approach your expenses differently?
It's a normal occurrence for most salary earners to buy a lot of stuff on the day they received there salary and this is majorly because they would want to stuck their house with foodstuff so if for any reason they became careless with there spending, food won't necessarily become a major concern. One thing you should also know about most salary earners is that for the ones I know around me, before there salary even comes in, they've already collected stuff from provision stores on credit with the promise that once the payment comes in, they will pay off there debt and so once the alert comes in, most of them will go to the stores to start calculating how much they will need to pay and remove that from there salary and whatever is left would be use to buy some foodstuff while the rest is mept for the day to day running of household stuff and other things. Being a salary earner is a big stress on it own.

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November 24, 2023, 04:19:00 PM
 #78

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
If most people spend their money at that time, and habitually buy the things they want. This is indeed normal, and we need to remember that desires and needs are two different but related things.
Usually, people like that don't have principles/programs for survival in the future, and tend to be stagnant in their lives.

Do you also find yourself spending more on you payday?, or you approach your expenses differently?
If you ask that, I'm actually the opposite, I only prioritize my needs, I always save to survive in the future, because I have a program/plan for the future, even though sometimes the plans don't work out. At least I try more to achieve the goals I want.

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November 24, 2023, 04:48:22 PM
 #79

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

Do you also find yourself spending more on you payday?, or you approach your expenses differently?

Permit me to ask this before I begin, how do you know they are buying things they don't need? The thing is we individual are very different and we have different taste as far things are concerned. What's valuable to you is what is very valueless to another person. I know that some people are actually living an extravagant lifestyle but I have never seen anyone buying what they don't need. It's understandable if you say they are buying things that are not necessary. And again, our priority varies and we can not dictate to people how to spend their money especially when they are grown up adult and responsible. Of course, we can call their attention to advice them on the way they spend if we notice it's more than necessary but not to tell them what to buy and what not to buy. What I mean here is offering financial management advice.

R


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November 24, 2023, 04:54:36 PM
 #80

Do you also find yourself spending more on you payday?, or you approach your expenses differently?
Although some people spending unwisely.
In my opinion, spending more on payday doesn't necessarily mean they're not spending wisely. If someone takes a salary and saves from it, while also saving an emergency fund and other important funds, they can still spend some money on things they want or need.

For example, a person might save 50% of their income, while the remaining 50% is used for living expenses, such as housing, food, and transportation. Once they have met their necessary living expenses, they can spend the remaining money on things they want, such as clothing, entertainment, or travel.

Spending money on things they want can help them feel more satisfied and happier. So spend wisely. They should avoid spending too much on unnecessary things, and they should set limits for themselves.

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