self control

[Olatundespo]

Nowadays, it is not possible to become rich just by saving. Nowadays, we can meet our needs well from the money we earn, but many people cannot save or invest money because the amount of expenditure is high as income. In this case, we need to find alternative ways of income, at the same time we need to increase our skills and exercise self-control. Self-control allows us to prevent wasting money quickly by spending on unnecessary things. And we can reduce our expenses and save and invest to create future wealth.

You may be saving fiat for the future but due to inflation, the value of your country's fiat is getting devalued. The amount of money you are saving in the bank is gradually decreasing due to inflation. You need to take alternative measures for financial security so that your source of income increases. After spending the amount you earn for your family, invest the remaining money in some promising place. Self control is more important to reduce spending because most people live an uncontrolled life and waste money. If you can understand the importance of money during your earning period and get used to living with patience, then you can be financially stable during your retirement.

[Xcode7]

Nowadays, it is not possible to become rich just by saving. Nowadays, we can meet our needs well from the money we earn, but many people cannot save or invest money because the amount of expenditure is high as income. In this case, we need to find alternative ways of income, at the same time we need to increase our skills and exercise self-control. Self-control allows us to prevent wasting money quickly by spending on unnecessary things. And we can reduce our expenses and save and invest to create future wealth.

You may be saving fiat for the future but due to inflation, the value of your country's fiat is getting devalued. The amount of money you are saving in the bank is gradually decreasing due to inflation. You need to take alternative measures for financial security so that your source of income increases. After spending the amount you earn for your family, invest the remaining money in some promising place. Self control is more important to reduce spending because most people live an uncontrolled life and waste money. If you can understand the importance of money during your earning period and get used to living with patience, then you can be financially stable during your retirement.

It is quite possible to achieve it in the future if someone is able to control themselves and I see the main problem for many people today is self-control in controlling their finances so they make many mistakes and are unable to invest in the future, what actually has to be done is a lot of sacrifices to be able to achieve financial freedom in the future and that is something that is very difficult to endure, especially with big desires in life.

[MissNonFall9]

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

See, just  only to save money or saving money to become rich cannot make a person rich. To become rich you need to develop your education and skills and apply them in the right field at the right time. If you have a strong tendency to save or hoard money, create a plan for it and find an area where you can invest your savings. One thing to keep in mind is that there is no alternative to investing in the right fields to become rich in this world. You should also refrain from unnecessary expenses.

What is worth mentioning is that those who are included in this forum are, in my opinion, very fortunate. Many knowledgeable people, including the moderators show us many important investment platforms or investment areas for achieving financial success in life.

[junder]

It is quite possible to achieve it in the future if someone is able to control themselves and I see the main problem for many people today is self-control in controlling their finances so they make many mistakes and are unable to invest in the future, what actually has to be done is a lot of sacrifices to be able to achieve financial freedom in the future and that is something that is very difficult to endure, especially with big desires in life.

Self-control is indeed important in many things, including finances. Currently, many people tend to experience financial problems, but even so, there are also people who have sufficient income and can manage it well so that no problems occur and this is because they can control themselves well enough, in contrast to people who sometimes only have short-sighted thoughts. Sometimes they have income but it always leads to shortages. This happens sometimes because they are not good at managing their finances, such as buying something that is actually not so important to them. But with those with a long-term mindset, they can think about their future, manage their finances well and perhaps make investments.

[woez]

You may be saving fiat for the future but due to inflation, the value of your country's fiat is getting devalued. The amount of money you are saving in the bank is gradually decreasing due to inflation. You need to take alternative measures for financial security so that your source of income increases. After spending the amount you earn for your family, invest the remaining money in some promising place. Self control is more important to reduce spending because most people live an uncontrolled life and waste money. If you can understand the importance of money during your earning period and get used to living with patience, then you can be financially stable during your retirement.

Over the long term, it's true that a lot will be spent on maintenance fees, withdrawal fees, and ATM fees. However, there's a good solution if you want to save at a bank and avoid various fees: open an account, simply hold a bank book, and make manual withdrawals without using all their services. Banks aren't free if the service is activated by the user. This way, only the book fee is charged, and everyone else is safe.

We can apply this pattern equally, but social classifications and classes vary; some have a steady income, others just enough to survive. In this case, the only solution to avoid reckless spending is to compartmentalize your expenses. This means always prioritizing important and urgent expenses first, followed by fixed expenses. If you have enough, set aside any excess for social funds. Once you feel you have enough, set it aside for a ready-to-use fund, meaning a special savings account. I think that's another tip that might be useful for achieving financial stability today, tomorrow, and in the future, whenever we choose to implement it.

[Koadharber]

You may be saving fiat for the future but due to inflation, the value of your country's fiat is getting devalued. The amount of money you are saving in the bank is gradually decreasing due to inflation. You need to take alternative measures for financial security so that your source of income increases. After spending the amount you earn for your family, invest the remaining money in some promising place. Self control is more important to reduce spending because most people live an uncontrolled life and waste money. If you can understand the importance of money during your earning period and get used to living with patience, then you can be financially stable during your retirement.

Over the long term, it's true that a lot will be spent on maintenance fees, withdrawal fees, and ATM fees. However, there's a good solution if you want to save at a bank and avoid various fees: open an account, simply hold a bank book, and make manual withdrawals without using all their services. Banks aren't free if the service is activated by the user. This way, only the book fee is charged, and everyone else is safe.

We can apply this pattern equally, but social classifications and classes vary; some have a steady income, others just enough to survive. In this case, the only solution to avoid reckless spending is to compartmentalize your expenses. This means always prioritizing important and urgent expenses first, followed by fixed expenses. If you have enough, set aside any excess for social funds. Once you feel you have enough, set it aside for a ready-to-use fund, meaning a special savings account. I think that's another tip that might be useful for achieving financial stability today, tomorrow, and in the future, whenever we choose to implement it.

Inflation quietly eats away at the value of savings and many people don’t realize it until years later the same amount of money that once felt secure slowly loses its strength when prices rise that’s why simply storing cash in banks is not enough anymore it keeps your money safe but not growing financial security today means finding a balance between saving and investing between protecting and multiplying what you earn.

You’re right that self control is the real foundation of wealth most people don’t fail because they earn too little but because they spend without order discipline in spending creates room for investment and that’s where growth begins if you can manage your lifestyle during your earning years and learn to live below your means you’ll build the habits that carry you safely into retirement wealth starts with mindset not just income. For those who prefer banks avoiding unnecessary service fees helps protect what you save simple accounts without constant digital use can reduce maintenance costs but real financial stability comes from learning how to direct your income wisely compartmentalizing expenses is one of the best strategies it forces you to look at money through priority lenses first cover essentials then fixed costs next allocate something for emergencies and only after that think about saving or investing.

[Oluwa-btc]

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 is in the rise and so needs and demands ain't really met in most cases and the only means of surviving in the economy degradation is through generally planning, saving as usual and having self control. It isn't the period to spend on unnecessary things that doesn't matter, so self control will do justice to limiting oneself from that and prioritize good savings and planning goals.

[ovcijisir]

OP had really depressing post about salary not being enough to get rich despite his restraints on spending. If he got to the point where there is no more room for him to save money , my only advice is to look for opportunities to earn more money. This could be finding another job with better pay, or finding opportunities for another income. Investing in skills he's talented in would probably open opportunities for better job.

[2Pizza410000BTC]

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

Although self-control is difficult in this economy, one should have self-control. My family can live normally with the salary I work on, now I cannot live a luxurious life with my family because with the salary I earn, I can manage myself, my wife, children and family. Moreover, the situation in the country is not normal, and the price of everything is increasing, so I always have to be in a state of tension. However, considering the country, if we hope to do something in life, we must refrain from buying unnecessary things. If we refrain from buying unnecessary things, we will definitely be able to save something. We should buy what is necessary depending on the current situation. We cannot become rich just because of lack of salary, if we can control ourselves and refrain from buying unnecessary things, then we can definitely accumulate some savings to make ourselves rich.

[G_Besar]

It is quite possible to achieve it in the future if someone is able to control themselves and I see the main problem for many people today is self-control in controlling their finances so they make many mistakes and are unable to invest in the future, what actually has to be done is a lot of sacrifices to be able to achieve financial freedom in the future and that is something that is very difficult to endure, especially with big desires in life.

Self-control is absolutely essential for every individual. Without better self-control for better things, a person will never achieve anything in life, and even if they do, it will certainly not be what they desire. Therefore, in terms of self-control, I believe it must be even greater in the financial sector and also in daily spending. For other things, such as worship and helping others, I don't think self-control is necessary as long as they are running smoothly and don't cause unrest to others.

[bubilas]

OP had really depressing post about salary not being enough to get rich despite his restraints on spending. If he got to the point where there is no more room for him to save money , my only advice is to look for opportunities to earn more money. This could be finding another job with better pay, or finding opportunities for another income. Investing in skills he's talented in would probably open opportunities for better job.

We can also start saving a lot by learning to repair things or appliances and take care of our clothes. I know people who are so good at taking care of their clothes that they use them for decades, while others buy clothes literally every new season because they become unfashionable or tear. We need to be able to choose based on quality; this will ultimately lead to significant savings, because everyone knows that clothing is expensive these days, but not all of it is durable enough to last for years.

[Halime Anatolia]

We can also start saving a lot by learning to repair things or appliances and take care of our clothes. I know people who are so good at taking care of their clothes that they use them for decades, while others buy clothes literally every new season because they become unfashionable or tear. We need to be able to choose based on quality; this will ultimately lead to significant savings, because everyone knows that clothing is expensive these days, but not all of it is durable enough to last for years.

High prices reflect quality. Another example is when building a new house, for example, for the finishing touches of paint. Initially, we might think about saving money by using inexpensive paint. However, after consulting with the paint store owner, they suggest buying top-quality paint, even though it's expensive, we'll benefit economically.

If your house is painted with high-quality paint that meets ICI standards, it will last approximately 10 years without any refurbishment, whether for indoor or outdoor use. If you paint a regular house after three years, it will need refurbishing and will quickly become dull and weathered due to heat and rain. This is something that needs to be considered, just as you mentioned above, if I were smart about the direction.

[GiftedMAN]

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 is in the rise and so needs and demands ain't really met in most cases and the only means of surviving in the economy degradation is through generally planning, saving as usual and having self control. It isn't the period to spend on unnecessary things that doesn't matter, so self control will do justice to limiting oneself from that and prioritize good savings and planning goals.

Money tends to lose value faster during inflations, which is why it’s crucial to be intentional about one’s spending habit and also focus on relevances. One way to do this could be making a clear distinction between your needs and your wants, by doing so, you’ll be able to know what’s really worth spending on and things that can actually wait. Discipline is also very much required too, as it is not just enough know what to do, it is one thing to know and it’s another to have the discipline to stick to it.

[ovcijisir]

We can also start saving a lot by learning to repair things or appliances and take care of our clothes. I know people who are so good at taking care of their clothes that they use them for decades, while others buy clothes literally every new season because they become unfashionable or tear. We need to be able to choose based on quality; this will ultimately lead to significant savings, because everyone knows that clothing is expensive these days, but not all of it is durable enough to last for years.

High prices reflect quality. Another example is when building a new house, for example, for the finishing touches of paint. Initially, we might think about saving money by using inexpensive paint. However, after consulting with the paint store owner, they suggest buying top-quality paint, even though it's expensive, we'll benefit economically.

~

High prices doesn't always mean higher quality. For example some brand-name shoes have same or even less quality than non brand-name ones. You did good job by consulting with with paint store owner, who was honest about paint quality. There are also a lot of dishonest salesmen who will sell more expensive product with sub-standard quality to make more profit.

[Iroh]

See, just  only to save money or saving money to become rich cannot make a person rich. To become rich you need to develop your education and skills and apply them in the right field at the right time. If you have a strong tendency to save or hoard money, create a plan for it and find an area where you can invest your savings. One thing to keep in mind is that there is no alternative to investing in the right fields to become rich in this world. You should also refrain from unnecessary expenses.

Yeah, if you intend on just saving money in order to be financially independent, then you're going about it the wrong way. You will not get financially independent or rich just by having some good savings in the bank and like you rightly noted, there is no alternative to having a good and feasible investment plan. Now that will overtime, bring in some good returns that could increase your wealth exponentially.
With the increasing rate of inflation, savings alone will get you no where as the value of your fiat currency, just sitting in the bank will slowly lose its purchasing power due to the constant rise in goods and services.
Having some savings is very important and needed. It alone just can't help you achieve wealth.

[HONDACD125]

Yeah, if you intend on just saving money in order to be financially independent, then you're going about it the wrong way. You will not get financially independent or rich just by having some good savings in the bank and like you rightly noted, there is no alternative to having a good and feasible investment plan. Now that will overtime, bring in some good returns that could increase your wealth exponentially.
With the increasing rate of inflation, savings alone will get you no where as the value of your fiat currency, just sitting in the bank will slowly lose its purchasing power due to the constant rise in goods and services.
Having some savings is very important and needed. It alone just can't help you achieve wealth.

You're right. Even though it's important for everyone to have savings, savings alone can't make someone create wealth or achieve financial freedom, unless they are making so much money that their savings can also be too much, but that is barely the case with everyone. So, people who have an average income, out of which they barely get to save 10% or something, will barely be able to save enough money to even be able to buy a house within a few years, it will take about a decade or something for someone to do something for themselves through savings, and that proves that we can't create wealth through savings.

The other scenario that I mentioned is when someone has a very high-paying job, and has very low expenses compared to what they earn every month. In that case, if the person spends 20% or something and saves 80% of their income, then maybe within a few years they will have good enough funds, but still, to make wealth, they will need to utilize that money in creating investments and businesses because if you simply eat your savings, you won't have anything left within a few years.

[Fredomago]

OP had really depressing post about salary not being enough to get rich despite his restraints on spending. If he got to the point where there is no more room for him to save money , my only advice is to look for opportunities to earn more money. This could be finding another job with better pay, or finding opportunities for another income. Investing in skills he's talented in would probably open opportunities for better job.

We can also start saving a lot by learning to repair things or appliances and take care of our clothes. I know people who are so good at taking care of their clothes that they use them for decades, while others buy clothes literally every new season because they become unfashionable or tear. We need to be able to choose based on quality; this will ultimately lead to significant savings, because everyone knows that clothing is expensive these days, but not all of it is durable enough to last for years.

It's another way to value money and with that we will be able to save some, it's more on how you dedicate you are in finding ways of saving, just like you mentioned there are people who can keep their things useful for longer time, and yes, those appliances that still usable and just need a repair instead of replacement, those small things can save you and if you have good practices you can save more and use those money to other important things that you need to spend or be kept as part of your savings.

[BlackBaron]

It's another way to value money and with that we will be able to save some, it's more on how you dedicate you are in finding ways of saving, just like you mentioned there are people who can keep their things useful for longer time, and yes, those appliances that still usable and just need a repair instead of replacement, those small things can save you and if you have good practices you can save more and use those money to other important things that you need to spend or be kept as part of your savings.

People tend to want new things even if their old ones are still usable, even if they need a little repair. This isn't a big deal, as it's a normal experience for everyone. However, we must first assess our situation to see if buying new items will alleviate our financial woes. Instead of experiencing new joy, we'll actually experience stress if we force ourselves to buy something when our finances are tight.

We must learn to value money, especially when it's scarce. We shouldn't just live for today, we must also prepare for the future.

[bubilas]

Sometimes, when I go to the store, I'm tempted to buy really expensive groceries and treat myself to a delicious evening. But then I realize that would be a very expensive meal, and I can make the same meal myself for much less using other ingredients.
And these moments of self-restraint have a very positive effect on saving the family budget, because if you buy expensive products every day, then ultimately it will be a very large sum per month.

[bettercrypto]

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 agree with one of our colleagues that saving money alone won't be enough basis for us to become wealthy, because a person's wealth depends on various business resources.

As the saying goes, right, saving money or savings is good only for emergency funds. But if we use our savings on investment opportunities that can grow,
as long as we're implementing the right investment scheme, it's really fine.