Earning More doesn't Fix it,Financial Discipline Does

[wozzek23]

You forgot to touch the inflation part that is one of the reason why people don't have any money left even if they are earning more than the previous year. But lifestyle inflation is real and people are manipulated by all kind of advertisements and think that they need to buy the new Iphone every year or they will be considered as poor by society.

Making mony is the first step then they need to save it and then they need to invest it, that is how they can build their wealth over time. But this is not the only way to become rich in this 21st century.

Only show-case rich might have that kind of mentality but real rich will prioritize saving and still use their old devices as long as it is working well. They don't need to flex only for others to know that they are rich but their natural aura already proves that they are one of those. Making money is the first step, if we will say it like an oath but the real one that earns us money is investing and then we can save some of our profits. Investing is not new but this new era we have now wakes more people to do it and we now have more options to invest our money with.

[Findingnemo]

You forgot to touch the inflation part that is one of the reason why people don't have any money left even if they are earning more than the previous year. But lifestyle inflation is real and people are manipulated by all kind of advertisements and think that they need to buy the new Iphone every year or they will be considered as poor by society.

Making mony is the first step then they need to save it and then they need to invest it, that is how they can build their wealth over time. But this is not the only way to become rich in this 21st century.

Only show-case rich might have that kind of mentality but real rich will prioritize saving and still use their old devices as long as it is working well. They don't need to flex only for others to know that they are rich but their natural aura already proves that they are one of those. Making money is the first step, if we will say it like an oath but the real one that earns us money is investing and then we can save some of our profits. Investing is not new but this new era we have now wakes more people to do it and we now have more options to invest our money with.

People got more exposure to the term investing compared to the past but they don't have any idea what or how to do that, so they chose to follow some half-baked influencers who claim themselves as experts in the investment give them ideas that is often misleading or an attempt to promote a paid product.

The traditional investors know what to do with investments, they simply chose to hold their assets once they pick the right one to trust their money so in the next 10 years it will start giving returns that will compensate the capital.

[Lida93]

When you spending more than you're saving you would become poor eventually and would in no time use your savings and be left with nothing but penury. What changes our lives is the type of choices we make, when money increases you can either go with the choice of saving more to later invest into several real assets or you could either want to live the kind of life that bars you from having something left to be saving for future investment purposes because you choose to skyrocket your spending beyond normal.

This is both true and wrong. You do not have to save more than you spend, you have to earn more than you spend. If you are saving 50%+ of your income, that would mean you save more than you spend and that is not likely, you would need to be a millionaire to be able to do something like that.

Nobody I have ever met in real life could save more than they spend ,that is not possible. What you mean is have bigger income than your spending so that you would have some savings, and yes that is very important to do, I am failing at the moment but I am getting better and if I can earn more than I spend then I am going to buy bitcoin with all the money that I put aside and keep doing that until next bull run comes so I can sell at peak.

It might seem impossible but it's not impossible, if you had said it's difficult and not common then I would have agreed wholeheartedly. But there are other things you said I agree with, such thing as having bigger income through skill upgrades or expansion of streams of income. However, it's not a commendable idea to have to buy bitcoin with all the money you earn because you're earning more than you spend, there should be a percent you have to allocate into buying from your earnings instead of all.

[Cryptomultiplier]

You forgot to touch the inflation part that is one of the reason why people don't have any money left even if they are earning more than the previous year. But lifestyle inflation is real and people are manipulated by all kind of advertisements and think that they need to buy the new Iphone every year or they will be considered as poor by society.

Making mony is the first step then they need to save it and then they need to invest it, that is how they can build their wealth over time. But this is not the only way to become rich in this 21st century.

Only show-case rich might have that kind of mentality but real rich will prioritize saving and still use their old devices as long as it is working well. They don't need to flex only for others to know that they are rich but their natural aura already proves that they are one of those. Making money is the first step, if we will say it like an oath but the real one that earns us money is investing and then we can save some of our profits. Investing is not new but this new era we have now wakes more people to do it and we now have more options to invest our money with.

People got more exposure to the term investing compared to the past but they don't have any idea what or how to do that, so they chose to follow some half-baked influencers who claim themselves as experts in the investment give them ideas that is often misleading or an attempt to promote a paid product.

The traditional investors know what to do with investments, they simply chose to hold their assets once they pick the right one to trust their money so in the next 10 years it will start giving returns that will compensate the capital.

Investment in the old days would have involved more manpower and more land and more wives and more cattle and gold including precious metals.
These days however, investment has been given a new definition in the terms of cryptocurrency, stocks, bonds, real estate, spot ETF.
What separates the rich from the poor is investment choices rather than spending habits. Luxury is a lifestyle for some while for others owning more businesses and having more assets is the preferred path.

Discipline has many forms and it is only a person who has experienced pain, hunger, poverty, that becomes more disciplined than the ones who were born into wealth or have it thrust upon them.

[M47AK16]

Earning more does not make you financially secured, but once you apply discipline into it, even if you earn not so high amount, you will increase chances from not suffering financial pressures in the future.

Opportunities will always be present if you want to increase your income as long as you have reliable skills, but having to achieve financial discipline, that requires a consistent practice and exposure so that you will learn more how to value your money and grow it.

Or say 'doesn't  guarantee' because even those who win big in lottery on gambling, can still ended up being poor later on because they lack in discipline, although their case is a bit different because their money doesn't really come from hard work. So for those who do, they will mostly know how to value it.

For those who are earning less, the same thing can be said but it is just that they earn less and then inflation and other shit is fucking them up more.

[Japinat]

Sometimes it's the money that's not sufficient; other times it's the person that doesn't know how to manage. Two people can be earning equal salaries and have the same family size, and one will be able to save while the next person will be in debt.

It's all about management and reducing unnecessary expenses which could lead to cash wastage. If one can learn how to manage, increasing earnings will help them build generational wealth.

Earning a sufficient amount is important, but learning how to manage your funds is more crucial. You don't have to focus on how to spend money when you have a lot, but how to save more than what you will spend. This is the only key if you want to improve your financial status.

However, I have to agree, discipline and financial management are essential. Its useless to earn more when you don't even know how to use your funds wisely that it should go according to plan.

[Rgram]

We live in a society where people believe the solution to financial struggle is simply “more money” ,"so much money", "plenty money."But history and everyday life prove otherwise.People earn more,yet their bank accounts remain empty. Why?Because income without discipline is like pouring water into a basket.

I take a different initiative to this, where bank accounts often remain empty. For most of those still struggling with life, those within the middle class where their primary source of income is based on salaries, it could become real when you often have an empty account balance given the much larger expenses you get to make.
For the rich and wealthy, it’s often because they’ve reinvested in something that they else. The wealthy don’t enjoy having to see their money in a bank account, they prefer to invest that money in a profit or loss venture and have that money work for them.
More money actually solves problems but, financial discipline creates contentment and make that money to be enough as well as, limit what you consider as a problem or see to be necessary.

[Alone055]

You're right, OP. People often don't realize this thing when they are doing it themselves, but it's a harsh reality we see in society these days. Those who are earning less are compelled to compromise on things, and live a simple life, but they still manage, I mean they eat, wear normal cloths, live a simple and easy life, but as soon as the same people start making more money, instead of trying to save money and then making investments for a better future, they increase their general expenses and upgrade their lifestyle, which doesn't leave any money with them just like before, but now only they live their life in more luxury.

I know that it's really hard to stay disciplined, because having money but not spending it on things that you want or wish to have requires a lot of self-control and patience, and not every person possesses that sort of control. This is why, people often think that they will see what happens tomorrow, whatever they have should be used to enjoy the present, and that isn't always the right mindset, especially if you have seen a lot of hardships in your life, and you always thought of having a brighter future, but now that you have the opportunity, you are basically ruining it.

[alastantiger]

More income on its own has never been a guaranteed escape from financial struggle. We see it every day, people earn more but their expenses scale even faster, so nothing really changes. Money doesn't create discipline or wisdom; it simply amplifies what already there. if the habits are poor, more money just means expensive mistakes. Real wealth comes from intentional behavior, how you manage, delay gratification and invest, not just how much comes in. Without structure and self-control, higher income becomes temporary comfort, not lasting progress. Until the mindset changes, higher income only exposes the problem rather than solving it.

[mirakal]

Financial discipline does not matter how bigger your income is, but its on how you manage wise spending so that finances will never run out in the end, or will never face financial issues and struggles.

Earning more doesn't fix it, because the amount you have will not guarantee your financial success, but if you can improve your poor financial management, and eventually plan your expenses well and limit your unnecessary wants, its easier to gain a positive financial state.

However, earning more creates bigger challenges on how you will manage your finances. That will help you assess yourself if you are that well financially disciplined or needs more learning essentials.

[Fredomago]

Financial discipline does not matter how bigger your income is, but its on how you manage wise spending so that finances will never run out in the end, or will never face financial issues and struggles.

Earning more doesn't fix it, because the amount you have will not guarantee your financial success, but if you can improve your poor financial management, and eventually plan your expenses well and limit your unnecessary wants, its easier to gain a positive financial state.

However, earning more creates bigger challenges on how you will manage your finances. That will help you assess yourself if you are that well financially disciplined or needs more learning essentials.

You said it right having the right discipline will give you that comfort once you settle your earnigns, most of the time those who improves their financial earnings start to create new expenses to cover, but if you have good discipline with your  money it can generate decent savings that will allow you financially stable in the long run, using your money to what you need and not for what you want will save you a lot and by continuing increasing your earnings provide good space for your savings.

[Joy- maker]

People who understand the psychology of money should know by now that money alone can't make them wealthy, because Financial success is more about behave than intelligent if you ask me. how you think, feel and behave around money is what determine if you are going to be wealthy or not, because when you see or believe that money is a tool, then you will invest, save and plan. you will never see reasons to spend recklessly. But when you see money as a status symbol you will definitely start spending recklessly, you will start buying things you don't really need just to show off luxuries. And when you also see money as something that is easy to get, you also start spending recklessly. So in other for you be wealthy always see money as a tool.

[Botnake]

If you look at a bigger picture of poverty, it won't be solved by just earning a sufficient amount. You need financial tricks and strategies that would overcome poverty and make it work in the longest time. Discipline is crucial, if you don't know how to limit your expenses in order to create ways for savings, your financial situation will never improve. Despite of how good your earnings is, still financial issues are still possible later on.

[DaNNy001]

Without discipline it would be almost impossible to make smart financial decisions...Most people say that if they earn a particular amount of money they would be able sort out their bills and also have enough to save up for an investment but when that opportunity comes they make that amount but it doesn't fix anything because they don't know how to have a budget and be disciplined with money

[lizarder]

Without discipline it would be almost impossible to make smart financial decisions...Most people say that if they earn a particular amount of money they would be able sort out their bills and also have enough to save up for an investment but when that opportunity comes they make that amount but it doesn't fix anything because they don't know how to have a budget and be disciplined with money

This is a common problem faced by many people. Even when they earn more money, they don't establish sustainable savings or investment strategies, ultimately justifying their decisions based on what they shouldn't. Making wise decisions about financial management isn't about the size of one's income, but rather how one manages that income with sound steps and policies. Compare this to how women can manage their finances wisely, even with a small income and why don't we think we, as men, can apply the same principles?

The path may be different, but when someone has good management skills, I'm sure it will work perfectly. It depends on whether or not we're willing to implement it, even if it means starting to live frugally and not spending money on unproductive activities. If we implement good financial management, we will achieve results, and it depends on our desires.

[jaberwock]

Money will make one happy. It depends on each individual if they want to preserve the money or simply spend it for temporary happiness. Many choose temporary happiness which makes them remain poor. Preserving money is something which will make our financial lives much better. You cannot really achieve success even if you work hard but spend all the money on expenses. Each individual should have their own set of rules when they get their wages. Investing a portion, spending on healthcare and basic necessities should be given priorities.

Yes, we do need luxuries as well but that is not a necessity. We can still survive without luxuries so if we can simply avoid it we can't really afford it. If we can, we should still stick to a strict budget and avoid spending more than we are supposed to on these luxuries.

[jostorres]

Without discipline it would be almost impossible to make smart financial decisions...Most people say that if they earn a particular amount of money they would be able sort out their bills and also have enough to save up for an investment but when that opportunity comes they make that amount but it doesn't fix anything because they don't know how to have a budget and be disciplined with money

I won't say it is completely true. It is also difficult to earn money without discipline so those earning good money already have some discipline in place. The problem here is that their expenses will never come down. Even if they get promoted or get a decent hike in their salary, they would also increase their spending limits which will keep them on the same place financially.

Investing has turned out to be pretty common and almost 75% of people having a good corporate job will have decent holdings but still they will be broke every month end. Why does this happen? I think it is simply because people want to live a better life if they have a good paying job and they won't mind paying a premium price to maintain that lifestyle.

We should cut short on our luxuries because that will maximize our savings and we might not have to go through the rough patch every month end. I have personally experienced cutting short my luxuries and this has helped me in critical times.

[Ultegra134]

More income on its own has never been a guaranteed escape from financial struggle. We see it every day, people earn more but their expenses scale even faster, so nothing really changes. Money doesn't create discipline or wisdom; it simply amplifies what already there. if the habits are poor, more money just means expensive mistakes. Real wealth comes from intentional behavior, how you manage, delay gratification and invest, not just how much comes in. Without structure and self-control, higher income becomes temporary comfort, not lasting progress. Until the mindset changes, higher income only exposes the problem rather than solving it.

It all depends on how much more income. If you're earning €1000 a month, and you receive a raise up to €1100 or even €1200, it won't magically solve all your financial issues. Compared to the past, we're making much more money, but how much of our money is actually available is a question we should be making ourselves; the increased cost of living is eating our salaries away, it's not all about about mindset when everything is significantly more expensive than it used to be. I understand the meaning of what the OP is saying though, people usually spend more, the more money they earn, which is a vicious cycle itself; most people nowadays don't bother too much with investing, some not even with saving.

[EarnOnVictor]

You are one-sided about this, which makes you biased in making all your points against more money. More money is what most people need to turn their lives around, and nothing can change that. Poverty can be alleviated by more money, and that has been proven many times in the past. That is why you need to balance things, even as discipline is also important.

The way some irresponsible people live their lives can't be used as a yardstick to condemn more money entirely. The same way you undermine more money, is the same way that if some people could be given such, they would turn their lives, their family, their community, and even their nation around.

Imagine someone that is earning a $100 weekly and another that is earning $3,000 weekly, are you telling me that you won't feel their financial status difference? Even with irresponsible spending, you will still know that the later is not poor.This is practical, and you will certainly smell wealth in such, let alone how most people are averagely responsible in spending.

[Jatiluhung]

Therefore,More money doesn’t fix poor money behavior. It exposes it.More money fixes cash-flow problems.It does not fix character, habits, or thinking problems.Fix the person,the habits then the money follows and stays!

Yes, we often encounter this situation in our daily lives, even among the people around us, and we ourselves may have been in the same situation. That is, sometimes we are not disciplined enough in managing our finances properly. Sometimes we become careless and just keep spending money without any consideration at all when we have more income or something like that. I personally have made such mistakes in the past, but I have learned that we must be disciplined in everything, especially in the most important areas: finances and health.

Without proper financial management, no matter how much income we have, it won't change us for the better in the long run. However, with good financial management, we can at least maximize even a modest income to have a positive impact in the long run. This is because when we use good financial management, we are not only preparing for today but also preparing for the future and carefully allocating our budget. For example, we allocate funds for investments, savings, entertainment and leisure, and daily needs.