Earning More doesn't Fix it,Financial Discipline Does

[red4slash]

Getting more money is a step that is indeed used as a foundation for everyone because after all as long as we have money and even greater coverage then surely we will be a little guaranteed and will not be in trouble because currently having money can immediately have power.

But of course even though this is like an open secret but we also have to realize that everything in excess can be less good and this is what sometimes becomes a wrong situation that is difficult to avoid where when we have more money sometimes our spending becomes less well controlled.
With conditions like this as much money as we get it will not guarantee especially for now almost most of us must feel that the greater our income, the greater our expenses because of the conditions of our lifestyle or standards that change and as much as possible we have to suppress it.

[Iroh]

You made a good point with your overall post. But i would disagee with your opening post. Salary increases simply cannot solve poverty issues as not everyone is able and willing to work. When you earn more money, your spending in most cases, increases as well. Little problems and expenses that can be solved with money, in my opinion, increases as well.
No matter how much you earn, if you're not discplined about just how much you spend, you may end up spending more money than you can make. You may end up spending your income even before you can get it. More money surely doesn't fix your character or habits. If you can't effectively manage the little expenses coming in, then even when you start earning much more, you still won't be able to manage your finances effectively.

[Zackz5000]

Managing money properly depends on self discipline you can be earning high while some one earning low can achieve more better things than the person earning high it all depends on how you control your money, there are people that money control even when they receiving big money they can't use it wisely. You can be earning small and manage it well but when you start earning high you notice that it can't even pay all your bills this happened to those who attitude and behavior change that think that their level is no longer to drink sachet water but bottle water. To be financially stable we more investment and different sources of income.

[AmaGold70]

This is definitely the facts and many people fail to understand that it takes discipline and determination to achieve success, more money without self control isn't going to solve anything but it will make you become more irresponsible. Being financially literate as being able to make good use of a significant amount of money is the best thing anyone can give to themselves, at an early age I was taught to value every money that comes my way no matter how little it is because how you make use of the little amount determines how you will make use of the bigger amount when it eventually comes.

[uchegod-21]

Human wants are insatiable. It is normal for an individual's wants to increase as his income increases. Ofcourse you don't expect someone who now earns $100 to still live like he's earning $50, no that's not right. The only challenge arises when he starts living above his budget, or when he spends his earnings like he has a secured future which will never stop pumping money. Anyone who wants to spend so much without any form of restraint should ensure that he has an investment that generates money ceaselessly. If he doesn't have, he should start building one or stay financially disciplined.

[Achalugo BTC]

If a poor person is given more money, he will strive to move to a better position. But at that time, his mentality may change. If he strives to get rid of the poor, and uses the money properly. Only then his life journey will be much better and can be managed properly. Do you think that a person's mentality is always the same? It is always based on money and circumstances. But I think if the income increases, then the amount of money spent will increase a lot. This happened to me. Also if someone is given a lot of money, then he will plan how to spend it. And to stay disciplined so that he doesn't go back to his previous state.

You know, not everyone's mentality are the same just as you earlier said but practicing self- discipline is very good and productive because there are some people that don't think straight especially when big money comes in.
So, practicing self- discipline even when you have money or not, is very important, which will save you or prevent you from unnecessary mistakes that might lead or cause more damage than benefit in your life, and also it will you in making decision, which you lead in achieving your heart desires.

[aysha9853]

More income can solve short term cash pressure, but it doesn’t build wealth by itself that only happens when spending is intentional and delayed gratification becomes normal. Until someone learns to say no to lifestyle upgrades, every raise will feel temporary discipline isn’t exciting, but it’s what keeps money around instead of watching it disappear.

[sunsilk]

This is definitely the facts and many people fail to understand that it takes discipline and determination to achieve success, more money without self control isn't going to solve anything but it will make you become more irresponsible. Being financially literate as being able to make good use of a significant amount of money is the best thing anyone can give to themselves, at an early age I was taught to value every money that comes my way no matter how little it is because how you make use of the little amount determines how you will make use of the bigger amount when it eventually comes.

Others who see people's success think that they've done easily and overnight. That's why when they try it themselves, they think that it's hard because they're not disciplined.

It takes a lot of time, a lot of patience and discipline for one to become successful. Forgot to mention the sacrifices that one has to do in able for them to achieve it.

Those who strived to learn about financial education, they deserve it when they see that the knowledge they've learned is being applied to themselves.

[aoluain]

The OP is so correct. Financial discipline is so important in order to  manage
salaries, savings and spending.

So many people are not taught the basic concepts of this and so when they
earn more they simply increase their spending in line with increased earnings
instead of increasing their savings and maintaining their current lifestyle.

Its so basic but personally I only realised this after 20 years of working...
and doing the wrong thing.

[JaanusRaim]

The financial wisdom and financial means - the second without the first is worth 0 (you can not fill the basket even if you will pour an ocean into it), the first and the second together = instant win (boring), the first without the second starts an adventure!

[uche6215]

The more you earn the more your responsibilities increases and so the probability of you saving money will be low, this is the mistake most people do they are busy chasing high paying jobs thinking that, it will solve their financial problems. But no matter the amount of money that you earn as an individual if you don't have the financial discipline to control money there will be no difference. Financial discipline is what makes an individual because financially stable because money is one thing that you need to control very well if not you will be struggling no matter the amount of money you are receiving as a person.

[Altryist]

Human wants are insatiable. It is normal for an individual's wants to increase as his income increases. Ofcourse you don't expect someone who now earns $100 to still live like he's earning $50, no that's not right. The only challenge arises when he starts living above his budget, or when he spends his earnings like he has a secured future which will never stop pumping money. Anyone who wants to spend so much without any form of restraint should ensure that he has an investment that generates money ceaselessly. If he doesn't have, he should start building one or stay financially disciplined.

Our society is accustomed to consumption, we're shown useless things every day, and they try to convince us that we need them. Few are willing to resist, but more often than not, this ends with people spending what they've earned and not trying to save anything. Some people are willing to take out loans, but this is even worse because their earnings aren't enough for them and they're almost constantly living in debt. I agree that we need to learn to save, but I also believe we need to learn to earn more, above average, to live comfortably.

[Fredomago]

More income can solve short term cash pressure, but it doesn’t build wealth by itself that only happens when spending is intentional and delayed gratification becomes normal. Until someone learns to say no to lifestyle upgrades, every raise will feel temporary discipline isn’t exciting, but it’s what keeps money around instead of watching it disappear.

It can keep and allow you to save if you manage to deny whatever upgrade that may fit for your income, instead of spending just keep your expenses as intact as it is, and like what you said with proper discipline it helps a lot to give you stability in terms of financial aspects, the more you keep away from additional expense the better you can save for your future.

[qurbanshah02]

The more you earn the more your responsibilities increases and so the probability of you saving money will be low, this is the mistake most people do they are busy chasing high paying jobs thinking that, it will solve their financial problems. But no matter the amount of money that you earn as an individual if you don't have the financial discipline to control money there will be no difference. Financial discipline is what makes an individual because financially stable because money is one thing that you need to control very well if not you will be struggling no matter the amount of money you are receiving as a person.

This is true in most cases because the thing and convenience that is fulfilled in business is not in a job and becoming an employee, but for those who do not have the experience and money to do business, this thing is true and even if someone has it, they do not do it, this thing is true for them. Those who have the facility of a job prefer it more because in rural areas this thing is considered better. Whether money is more or less depends on the day and the environment of the house, so I will not talk about it because some people make their living by struggling and some people do good work but in the end they are not able to save anything, so the story of the house is different, but generally most people have this path in which they are not able to save anything and this is mostly the case with school teachers. Now spending illegal money will also spoil its value, so every house should spend it peacefully and wisely so that it does not face any difficulty.

[Renampun]

I have a friend with a salary of $10k USD per month, but he has so many difficulties in his life, he borrows here and there, he can't even afford to have a private vehicle because there are so many bills every month, but there is also another man who has a salary of under $500 USD, but he can meet his various needs, and even has a motorbike and is able to pay off the house in installments.

after I understand his lifestyle, my friend who earns $10k USD per month is so extravagant, he doesn't hesitate to spend so much money just to have fun at nightclubs, he even has installments on a cellphone and various gadgets that he doesn't even need just to look like a rich person, everywhere he also uses a private taxi. meanwhile, the man who has a salary of under $500 USD, he is very humble, he carries provisions everywhere, he is also very careful about how he spends his money, in essence his lifestyle is very simple.

so it can be seen that a person who earns more does not mean that he is very capable of managing his finances, it could be the opposite, he is very wasteful and lives beyond his means. while someone with a modest income can manage finances effectively by prioritizing needs, avoiding unnecessary expenses, and being able to manage their income sufficiently and even save.

[slapper]

Getting more money is a step that is indeed used as a foundation for everyone because after all as long as we have money and even greater coverage then surely we will be a little guaranteed and will not be in trouble because currently having money can immediately have power.

But of course even though this is like an open secret but we also have to realize that everything in excess can be less good and this is what sometimes becomes a wrong situation that is difficult to avoid where when we have more money sometimes our spending becomes less well controlled.
With conditions like this as much money as we get it will not guarantee especially for now almost most of us must feel that the greater our income, the greater our expenses because of the conditions of our lifestyle or standards that change and as much as possible we have to suppress it.

We developed an entire economy around people spending money. That's literally how it works. Consumer spending is like 70% of GDP or whatever. Banks want you to borrow. Advertisers are everywhere. Your apps are designed to make you buy things. The entire system is run on consumption.

And then we turn around and tell individuals "hey you need more discipline, stop spending" and it's like hey wait what?

You can't have it both ways. Either we want people to spend when they make more money or we don't. But we can't build everything to encourage people to spend and then be shocked when people spend.

Plus there's this assumption that all increases in spending are frivolous. But once you finally have money, you stop eating garbage food. You live somewhere safer. You fix your teeth. These aren't lifestyle inflation, these are just things humans need happen to cost money.

The discipline thing works if the game is fair When housing was affordable and healthcare didn't bankrupt you and wages were actually equal to productivity. Back then yeah discipline matter a lot.

[nara1892]

Everything you said is true, OP, that it actually depends on each person's mindset. Rich people don't become rich by magic, but because they have something different about themselves compared to most other people. A small example is their lifestyle. Rich people usually prefer to buy things they need, not based on their desires. Therefore, they often appear simple even though they have more ability to realize all their desires.

One of the reasons why people can be successful and rich is because they work harder to get more money, but they really know how to manage and use their money properly and appropriately, unlike people in general, where when they get more money, they also spend more. It all starts with mindset.

[eightdots]

Everything you said is true, OP, that it actually depends on each person's mindset. Rich people don't become rich by magic, but because they have something different about themselves compared to most other people. A small example is their lifestyle. Rich people usually prefer to buy things they need, not based on their desires. Therefore, they often appear simple even though they have more ability to realize all their desires.

One of the reasons why people can be successful and rich is because they work harder to get more money, but they really know how to manage and use their money properly and appropriately, unlike people in general, where when they get more money, they also spend more. It all starts with mindset.

Managing the economy requires discipline. Becoming rich or earning more isn't something that happens automatically; it's a process. This process requires disciplined progress. It involves avoiding unnecessary spending, making sound investments, and proceeding in a planned manner.

When you develop this mindset, you gain discipline, and this discipline helps you achieve your goals. In economic terms, discipline enables saving and managing those savings effectively.

[boyptc]

Having poor money behavior lies from the environment where we've grown up and it only shows that we're not taught how to be wise with handling money.

But as we earn a little by little and when it starts to grow more, we're also learning how to be disciplined in it.

If we're not good in taking care of what we earn, it's not going to take care of us in the future. So, if we save and invest, we'll have something during the rainy days as they say.

That discipline in there can be learned and it's not only by having savings and investments but also by giving to others what we can be a help of.