self control

[Reatim]

is self control enough in this economy?

in order to save money, is it enough to just prevent oneself from buying things unnecessary or limit ourselves to only what is needed to survive? is this a way to live? is there no other easy way aside from earning so much?

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

[Egii Nna]

You will never get rich in life by saving money, because inflation comes, which will definitely affect your money, no doubt about that. The best way to get rich is by taking risks, and if you are not ready to take risks, you will hardly get rich. That is just the fact. But other people think you can get rich by self control, yet that will only happen if you dedicate yourself to investment and stop unnecessary spending, just to invest more for your future. If you are concerned with the luxury lifestyle, you will definitely stay where you are without improvement, and luxury lifestyle pays nothing. It only helps to run down your account balance.

So, self control is good if you are investing and not afraid to take risks. But if you are hoping to get money by luck, then you are deceiving yourself, as the chance of luck is 0.01% out of 100%. It is not a possible thing for everyone. You need more experience and risk taking before you can get rich.

[goldkingcoiner]

is self control enough in this economy?

in order to save money, is it enough to just prevent oneself from buying things unnecessary or limit ourselves to only what is needed to survive? is this a way to live? is there no other easy way aside from earning so much?

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

Self discipline is what you mean, I think. Everyone controls their self. Not everyone has learned discipline.

Lack of salary? Why depend only on a salary in a world where you are free to make money with anything? There are girls selling bathwater and guys posting with an ad in their signature on the Bitcointalk forum for a weekly pay. There are many different ways to make some extra money.

If you lack self discipline of course you are going to lose all your money everytime a new I-Phone comes out. 

[Plaguedeath]

A person with $500 balance: I will work harder, save money and invest, so I can buy whatever I want when I reach $1 Million.

After he has $1 M balance: Hmm, better to buy real estate, stock and Bitcoin instead of buy dream car.

The message is, if you're not rich and trying to get rich, it's high likely you will not spend money for unnecessary things after you have a good balance in your bank account. You can still able to improve your life, but you will make a calculation and think thrice before buy something.

Unfortunately that's the only way for poor people to rank up, you need to live frugal for at least 5-10 years.

[LDL]

is self control enough in this economy?

in order to save money, is it enough to just prevent oneself from buying things unnecessary or limit ourselves to only what is needed to survive? is this a way to live? is there no other easy way aside from earning so much?

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

Self-control is an important characteristic and quality for a person. Although self-control is a good aspect in my economy. Still, sometimes I cannot support my family with my small salary with self-control. I may be an adult and my wife is a patient woman, but my children are young and my children have not learned to control themselves. Sometimes they pledge some luxuries that they cannot support themselves without buying. So although I can control myself, it is not possible for my children. Because of this, sometimes it becomes very difficult to support me monthly with my small salary.

[Bitco55]

is self control enough in this economy?

in order to save money, is it enough to just prevent oneself from buying things unnecessary or limit ourselves to only what is needed to survive? is this a way to live? is there no other easy way aside from earning so much?

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

Self control is really important though, cause its also possible to earn enough and still be poor. One needs to earn, but even when not earning enough, a person can still become rich when they save and invest little by little. That's how compounding works, and its very important and powerful in finance. it'll take time definitely, but it doesn't mean it wont happen, or you wont get there. Limiting ourselves from over spending is possible,  though not easy but possible. I like to think of it as a little sacrifice for my future self.

Another way is to learn a high income paying job. Although it boils down to earning so much, but its still important too.

[Ultegra134]

Honestly, @Egii Nna is right, you'll never get rich by simply saving money, inflation eats that away. The only way is through investing and/or finding ways you can earn more moneyz either that's by finding a better paying job, or a second one. This doesn't mean that you shouldn't have the discipline to control your spending habits. I personally prefer to avoid purchasing unnecessary stuff, my only "unnecessary" expense is occasional tool purchases and eating out every now and then.

In conclusion, you should save, but if you're barely making ends meet, cutting expenses isn't going to cut it, unless you're reckless, but your current income is.

[Spaceman1000$]

You will never get rich in life by saving money, because inflation comes, which will definitely affect your money, no doubt about that. The best way to get rich is by taking risks, and if you are not ready to take risks, you will hardly get rich. That is just the fact. But other people think you can get rich by self control, yet that will only happen if you dedicate yourself to investment and stop unnecessary spending, just to invest more for your future. If you are concerned with the luxury lifestyle, you will definitely stay where you are without improvement, and luxury lifestyle pays nothing. It only helps to run down your account balance.

So, self control is good if you are investing and not afraid to take risks. But if you are hoping to get money by luck, then you are deceiving yourself, as the chance of luck is 0.01% out of 100%. It is not a possible thing for everyone. You need more experience and risk taking before you can get rich.

Funny enough the rich people too have self control, they don't go about spending anyhow and taking unnecessary risk, and they still live a luxurious lifestyle too, that's why have lots of advisers and managers they listen to. If you must take risk to be rich, you should take a calculated risk, not just taking risk for the mere fact that it might land you to riches, else you will regret ever taking such risk.  Wealth can be built gradually from self-control, it takes time to build wealth, that's why you need to go through the process gradually so you can maintain it when you get high up there, the process will allow understand each step and how to retract when you are likely falling off.

[Charles-Tim]

It depends on the money that you have.

Just make sure that even if you spend on necessary or unnecessary things, make sure that you are saving for emergency days and also built your wealth. Live your life because life is once, but spend wisely.

Saving up to 70% of your money is good if you are receiving enough amount of money weekly.

[Royal Cap]

is self control enough in this economy?

Well, self control is certainly important, but cutting costs alone is not the answer. Controlling your spending means you are cutting back on waste, but it doesn't make you rich, it just helps you survive. The real problem is the gap between your income and your expenses. If your income increases along with inflation or the cost of goods, then you can't go very far just by saving. Another limitation of self-control is mental fatigue. If someone spends their entire life just to survive, but doesn't plan for the future, then at some point, depression will set in. No matter how tough the economy is, finding new ways to earn money and making money work for you are both essential along with self control.

So in my view, self control is the basement, but building on it, increasing your income and smart investing are the main steps to the future.

[Dunamisx]

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

Treating the economy right is important, we have to be involved in making self control of many things, but it doesn't end there, because we need to develop a feasible business model and work in line towards the best plan we had for it success, many lack the ability of running a business, because of poor management practices, had it been things like this have been in place for long time, maybe things would have been more better than we ha e today in our various endeavors.

[lovesmayfamilis]

Let me add. Any money you manage to save should always be put to work. Step by step, you'll generate a steady stream of passive income. By working only one job and saving wherever possible, you'll be able to set aside a certain amount, which should become a profitable investment. Of course, you need to carefully research the places you trust; it's not exactly a waste of money, but you should understand that any profit is just a step toward your dream. A good choice would be real estate that you rent out, and of course, while on this forum, investing in Bitcoin is a must.

[Ruttoshi]

Self control is very important for anyone in order fod him to be able to manage his finances properly. If you lack self control, you will spend extravagantly even when you have little and wouldn't be able to cut down your expenses. Cash inflow management is very important for anyone that wants to be successful in life.

When you have a good cash inflow management, you will prioritize spending less on consumption and focus more on investing. The problem is that a lot of people feel that they cannot invest with the little extra bucks that they have which is not true. Little starting will definitely grow into something big.

[philipma1957]

is self control enough in this economy?

in order to save money, is it enough to just prevent oneself from buying things unnecessary or limit ourselves to only what is needed to survive? is this a way to live? is there no other easy way aside from earning so much?

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

If you have perfect self control as of right now it does help but may not be enough.

I am married so no matter how perfectly I can behave I need to respect the way my wife behaves.

So if you are a family man wife and kids. or yo are a family woman 👩 with a husband and kids.

your perfect self control can be overcome by bad control on their part.

Luck matters a lot.

buying btc at a dollar a coin in 2010 was possible.

So if you grabbed 100 coins and used your perfect self control simply hodl till they reached 100,000

sell half giving you 5 mill and you still have 50 coins.


but you needed to be lucky to buy the 100 coins in 2010. you simply may have been too young to get them.

[YOSHIE]

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

Inflation can inhibit all human desires and needs, one of the most fatal turmoils of inflation, namely rising goods and low money values, is currently facing the world globally the effects of inflation.

Example: You work your salary never goes up, remains that much, but the price of goods continues to rise and a month can rise several times, another example of gold prices rise and we have to buy with a high value, for example 1 gram of $ 100 gold when the economy is stable $ 100 we get 2 grams of gold, soalso other items.

For this reason, the current world economy is not friendly with human life, for that with the current conditions we need to save money, meaning to buy based on needs, which does not need to not be purchased for survival.

[9ja Amaka]

Funny enough the rich people too have self control, they don't go about spending anyhow and taking unnecessary risk, and they still live a luxurious lifestyle too, that's why have lots of advisers and managers they listen to. If you must take risk to be rich, you should take a calculated risk, not just taking risk for the mere fact that it might land you to riches, else you will regret ever taking such risk.  Wealth can be built gradually from self-control, it takes time to build wealth, that's why you need to go through the process gradually so you can maintain it when you get high up there, the process will allow understand each step and how to retract when you are likely falling off.

This is all big lie. The rich people spend money all around. But they dont spend money to look rich, they only spend those money on things that will bring either ideas and growth into what they do.

You also talk about risk, honestly the rich at some point are faced with decisions that might make them lose everything, what do you think they do? They take risk, huge risk. The rich are self aware, if they do not take risk they wont be richer. It is a must in their dictionary "no risk, no gain".

[Roseline492]

is self control enough in this economy?

in order to save money, is it enough to just prevent oneself from buying things unnecessary or limit ourselves to only what is needed to survive? is this a way to live? is there no other easy way aside from earning so much?

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

A control doesn't assured a person to be rich but what it does for you is that it changes how you use your money because you cannot have that control and still be using money on the things that doesn't matter, although the rich could also emerge from having a self control because is one of the factors that eradicate distortion of positive conviction by creating the belief that the only way those dreams they have would come to reality is when they think towards it and not just thinking but also cutting off some of the over usage of funds they usually do so that enough money will come out through there savings and channel to something resourceful. You are also right because not all the poor people today lack control because they actually have it but there is no finance or income provider.

[Ucy]

You don't only need to control/tame the urge to consume unnecessarily or wrongly, you also need to be very productive/profitable. Try to make sure you produce way more than you consume, and you would have enough to consume or enough money to spend on consumption.

But it's important to consume the good things you need rather what you don't need. This will help strengthen your invisible shield or bubble to enable you resist the temptation to consume unnecessarily.
Bad consumptions weaken the shield and the ability to resist evil or unnecessary things.
Besides, it's not about consumption of food and water, it includes information. Make sure they are all good and always consumed, and you will be able to resist evil plus become healthy and knowledgeable enough to be very productive.

[Marykeller]

Self-control is the very attribute someone should have in today's economy, to at least help them in surviving,  since the cost of things is high, money doesn't always come the same way our daily or weekly spending does.

For someone that thought of making something good out of their life, not continue living a moderate life, thinking to be rich, would think of making investments, grabbing every opportunity that comes their way with a calculated risk, and not relying on single source of income.

[zasad@]

is self control enough in this economy?

in order to save money, is it enough to just prevent oneself from buying things unnecessary or limit ourselves to only what is needed to survive? is this a way to live? is there no other easy way aside from earning so much?

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

I'll tell you the meaning of one successful man's words: he said that starting a business and getting rich is very difficult, but investing in successful companies is very easy. You don't need to limit yourself too much; if you can spend 0.1% of your income on investing, you'll probably succeed.
But if you want to get rich in a year, you'll likely lose all your money.