Slow or fast?

[kotajikikox]

I recently encountered someone who talked about spending their money fast or slow. It got me thinking what are the differences. Basically spending your money fast means when you get money, you end up losing it immediately to buy whatever it is you want. Spending your money slow means once you acquire your money, it takes time for you to spend it but at the end... you still spend it anyway. It made me realize that even if you save your money to spend it eventually, you are still somehow losing money. The point is not when you spend your money but where you spend your money on. You can spend your money immediately but are you spending it on something worth its price? Something valuable? Something that is necessary?

[tabas]

I recently encountered someone who talked about spending their money fast or slow. It got me thinking what are the differences. Basically spending your money fast means when you get money, you end up losing it immediately to buy whatever it is you want. Spending your money slow means once you acquire your money, it takes time for you to spend it but at the end... you still spend it anyway. It made me realize that even if you save your money to spend it eventually, you are still somehow losing money. The point is not when you spend your money but where you spend your money on. You can spend your money immediately but are you spending it on something worth its price? Something valuable? Something that is necessary?

That is right, it's not about how quickly or slowly we spend our money. But to where we're spending it. Because important matters could be where it will be spent quickly. Like the bills and other obligations that we owe and have to pay. And with that, we're responsible spenders. If not and we're reckless then we're not giving importance on how we've earned that money. Although we have nothing to say about that because it is your money and you're the one who earned it. Someday, reckless spenders will realize how they need to change their spending habits.

[WillyAp]

People are different
Some people come up with a healthy decision pretty fast, while others need a few days.

[pooya87]

Considering that out of the ~8 billion population of earth majority of them are living paycheck to paycheck (specially in this recession+inflation infested world), they kinda have to spend their money as fast as they receive it because they've already stretched their last paycheck as far as they could have.

[TheUltraElite]

It will depend on the situation right? If you have an emergency at hand you will end up spending money fast. Otherwise you will be going slow.

If I can save the money and spend it slowly, I would always go for that route. Skip the cab services and take the public transport and huff up some steps for the last mile to office.

But the mentality to save money should always be there.

[crwth]

Slow or fast, is there even a difference? You will get to spend the money either way. Just buy what you want as long as it's your money and nobody else makes sure you can afford it, so you won't regret it.

[WillyAp]

But the mentality to save money should always be there.

Yeah it should just reality shows, something else: Especially people without income, or money or low income say: One cannot save anything and make no effort to even try. Bank accounts often don't give enough to save, their maintenance fee is higher than the interest they pay.

There are also many people without a bank account, or they have a smartphone and don't know what a wallet is or how to use it. 

[Jawhead999]

You shouldn't change the words because it affect people to interpret it!

The @OP in that thread Money is hard to get ,but easy to spend., was mentioning "easy and hard" not "slow or fast". Easy to spend means you spend without thinking twice, it goes opposite with hard to spend, saving/investing is belong to hard to spend because you don't want to spend for unnecessary thing.

Slow or fast have no meaning, you're only waiting to spend your money.

So, you're just creating a thread which discuss the same thing, but you're mislead people if someone was created a thread about spending faster or slower.

[r_victory]

One way to spend your money quickly is on daily needs, like paying your bills and buying groceries for your home. Do you think this money was well spent? For me, it was; my basic needs are worth every penny. There are expenses that must be incurred immediately after receiving your salary payment.

I don't think saving money to spend later is a waste of money. For example, if an item or something I need is expensive and buying it isn't urgent, I prefer to save up and buy it outright. Paying in installments accrues interest, and in that case, I believe it's a waste of money.

[SATWAT]

Considering that out of the ~8 billion population of earth majority of them are living paycheck to paycheck (specially in this recession+inflation infested world), they kinda have to spend their money as fast as they receive it because they've already stretched their last paycheck as far as they could have.

I am 100% agreed with your all views about current situation because currently I am living in country where 250 million peoples and mostly are living a life which are spending money fast because they are having no alternative and their lives are also not easy due to corrupt system and inflation.
Things are getting worst as flood and rains are having another disaster which are now annually agenda for these corrupt rulers those are now preparing for having their deep pockets going to be filled through funds which are coming in the name of aid life has never been easy in last few years but due to poor structure its having more problematic.
In my area many are living life they are bringing money after all day work and then have food for night so I can call this more than fast.

[SuperBitMan]

Yeah you are right, it is not about spending your money slow or fast is about spending it on the right things however spending your money slowly can help you think out those important things you should spend your money on but the right thing is for you to think about the things you want to spend your money on before it comes but if it comes unexpected then the right thing to do is to spend it slowly so that you won't forget the most important things you need to spend the money on because if you spend it fast you may spend it on things that is not that necessary to you and it will turn out you will regret.
So whether you are spending your money slowly or fast it all depends on how the money comes if it comes expected then you can spend it fast or slow because you have already prepared what to spend it on but if it comes unexpected then you have to spend it slowly.

[bitzizzix]

Yes, I think almost everyone does both. But it depends on the situation and the individual. I mean, if we spend our hard-earned money quickly and wisely, then immediately use it for basic necessities and other expenses until the next paycheck, with careful planning, including emergency savings and future investments, I think that's fine. Even better, if we have extra money outside of our salary that we use directly for work or other sources of income, I think that's a smart strategy.
And if we can spend money slowly, if we do it right, as I mentioned, I think that's fine because everyone has different plans and strategies.
And what's wrong is spending money quickly and slowly without producing anything, instead becoming a burden and financial hardship before the next paycheck comes, because we're relying on only one source of income and can't manage it well.

[Alone055]

I recently encountered someone who talked about spending their money fast or slow. It got me thinking what are the differences. Basically spending your money fast means when you get money, you end up losing it immediately to buy whatever it is you want. Spending your money slow means once you acquire your money, it takes time for you to spend it but at the end... you still spend it anyway. It made me realize that even if you save your money to spend it eventually, you are still somehow losing money. The point is not when you spend your money but where you spend your money on. You can spend your money immediately but are you spending it on something worth its price? Something valuable? Something that is necessary?

It does make a lot of difference spending your money more slowly than spending it all at once, especially when you know you have no backup funds. What if you have spent all the money on buying things you've wanted, and then you end up getting into an emergency, and now you need some money for it? You will be compelled to take a loan or ask someone to lend you some money that you will return later, and I don't think that should be the case for people who have a source of income. One should know how they need to manage their finances so that they don't get into such a situation where they will need to ask others for money only because they've spent all their money hurriedly, like a 5-year-old school boy who is left inside a shop to buy whatever he wants.

Yeah, I agree that everyone has the right to do things that they like, and treat themselves with something nice when they make money, but that doesn't mean you should become totally reckless and spend all the money without thinking about the possible scenarios you can face in the near future. As humans, we are given a brain that makes us understand everything, as long as we want to.

[Ucy]

Spend more/fast on top priority needs and things that can earn you sufficient profits. But make sure to spend when you desperately need them. This will help prevent spending at the wrong time, just incase you have the funds that you invested somewhere else, for example on something as profitable as Bitcoin. Ofcourse, your money needs to be always working for you rather than saved where it loses value or multiplies very little

And it's important to note that you are either spending money for the good of others or for yourself.
When spending for yourself there are three main categories of needs, according to their priorities, to focus on:
1. aquire, replace or fix things you lack, or your damaged or exhausted belongings, including yourself. This is typically top priority need because without them the specific issues you intend to buy them for won't be solved atall, and you may die or get health issues.
2.Spend on Preventive needs. These are basically needs that help protect you and your belongings from having issues.
  3. spend on things for self improvement and/or for improvement of your belongings in order to function better.  

There are low priority needs people spend money on that may be considered important but unnecessary, for example needs to make yourself attractive in order to attract favour to yourself, like for beautification. But these things are unnecessary if you have brilliant light or what the world calls intelligence.



In regards to solving other people needs, probably with the intention to earn rewards (reward is not necessarily monetary):

You can go for things that are high in demand but not enough in the market, or things you can always sell profitably after production, or things people desperately need and will be very thankful to you when you give them for free.
Find ways to produce them with abundant and cheap high quality materials to lower your production cost in comparison to other producers.

[Pablo-wood]

The point is not when you spend your money but where you spend your money on. You can spend your money immediately but are you spending it on something worth its price? Something valuable? Something that is necessary?

That makes sense about where money is spent. But what about situations where spending  isn’t a matter of choice? For example, I could be saving up for an important project, but then an unavoidable and urgent issue comes up that forces me to use all the savings at once. In that kind of unpredictable circumstance, the where will no longer be valid because value won't matter at that point but rather the focus  will be more about necessity.

[Merit.s]

Your financial circumstances playing around you the moment you receive your paycheck is what will determine if you will spend it fast or slow. It's when you lavish it that it doesn't make any sense because people who lavish their money spends it in a fast way.

The rich has the flexibility to spend money in a fast way without it affecting them that much because they have other means of income but if a poor man spends his money fast, he will be broke within a few days. Financial management matters a lot.

[Raflesia]

I recently encountered someone who talked about spending their money fast or slow. It got me thinking what are the differences. Basically spending your money fast means when you get money, you end up losing it immediately to buy whatever it is you want. Spending your money slow means once you acquire your money, it takes time for you to spend it but at the end... you still spend it anyway. It made me realize that even if you save your money to spend it eventually, you are still somehow losing money. The point is not when you spend your money but where you spend your money on. You can spend your money immediately but are you spending it on something worth its price? Something valuable? Something that is necessary?

Because ultimately, whether we like it or not, the current economic system, especially when it comes to money, means that sooner or later we will spend it all if the situation remains in the form of fiat currency, given that the quality of value and several other factors require us to continue circulating the money we have in order to sustain our current lifestyle.

Does this mean we cannot save money? Of course, the answer is yes, but we must be aware that the concept of saving is to support our lives in the medium term, not the long term, which means that we will eventually spend our savings on our needs or simply to pamper ourselves by buying the things we have always wanted.
However, on the other hand, I agree with the statement that it is not how quickly or slowly we spend our money, but how we spend it. If the benchmark is only for the short term with an uncontrolled and wasteful lifestyle, then there will be no change in our economic condition and future. However, when we are smart in managing our money by making efforts to support our old age, such as investing or making our money flow healthier by doing good business, then we will certainly be more focused on our old age, which could be much better than those who dont do so.

[Stalker22]

What is it about spending money that makes you consider that you are "losing" it? Seems to me, money is for spending.

The act of spending money isnt losing money; you are exchanging it for something else of value.  The only question to ask is whether what you are getting is worth what you are giving up, which is the only splits hair that counts.  The whole "fast vs. slow" spending thing is just a distraction. As you said, you still spend it in the end.

[rachael9385]

I recently encountered someone who talked about spending their money fast or slow. It got me thinking what are the differences. Basically spending your money fast means when you get money, you end up losing it immediately to buy whatever it is you want. Spending your money slow means once you acquire your money, it takes time for you to spend it but at the end... you still spend it anyway. It made me realize that even if you save your money to spend it eventually, you are still somehow losing money. The point is not when you spend your money but where you spend your money on. You can spend your money immediately but are you spending it on something worth its price? Something valuable? Something that is necessary?

This is an interesting thought but it's a simple theory, it doesn't matter if you spend your money fast or slow it's going to end the same way. No amount of money is inexhaustible, so you can either facilitate the process or slow it down. The most important thing is not whether you spend fast or slow it's putting those monies into something that would continuously provide more for you in the future

[DaNNy001]

Spending money slow or fast makes no difference...what's important is what that money is being spent on...you can spend irresponsibly slowly and also at a fast pace but the bottom line is the money is still being spent on something ...This is the reason why I said that what you spend on is actually what is very crucial here...if you focus on investments more than temporary pleasures you don't have to worry about going broke