your first paycheck

[MarjorieZimmermanGinger]

the problem is that they receive their first paycheck and they purchase unnecessary items already like the latest phone, expensive clothes, eat in expensive restaurants

don’t do this if you want to be financially responsible

Occasionally buying expensive items from our own hard work is okay, as we don't do it all the time, but occasionally. This can end worse when someone lacks a life plan and only pursues luxury. In this context, I agree that what we're doing is not good. Being financially responsible doesn't mean we shouldn't buy expensive items as we desire. Sometimes buying certain items can motivate us to work harder to achieve success. As long as this isn't done excessively, I think buying certain items according to our desires is okay, as long as we don't overspend and don't buy anything excessively.

[dezoel]

I was expecting you’d say invest too. Saving is good but investing as you spend sounds better. There’s nothing wrong with spending on expensive things as long as you can afford it and as long as it’s not irrelevant, and as long as you’re equally investing to secure your future. Some people spend on irrelevances, simply because they see people around them spending on things and just because they want to fit in and not left behind, this is totally wrong, just because you can afford something doesn’t mean you should spend on them, there should always be discipline and moderation in everything you do.

I would say investing depends on what you invest. There are things who are worse than savings, like instead of getting a shitcoin, I would put it in interest at bank, while that would lose value, it's still better than not going bankrupt because if you invest into a shitcoin you will go bankrupt, it's as simple as that.

I personally believe that we should not be seeing this as something that will be great, we should consider this as decent alternative to terrible potential of risky moves.

[Marvelockg]

I was expecting you’d say invest too. Saving is good but investing as you spend sounds better. There’s nothing wrong with spending on expensive things as long as you can afford it and as long as it’s not irrelevant, and as long as you’re equally investing to secure your future. Some people spend on irrelevances, simply because they see people around them spending on things and just because they want to fit in and not left behind, this is totally wrong, just because you can afford something doesn’t mean you should spend on them, there should always be discipline and moderation in everything you do.

I would say investing depends on what you invest. There are things who are worse than savings, like instead of getting a shitcoin, I would put it in interest at bank, while that would lose value, it's still better than not going bankrupt because if you invest into a shitcoin you will go bankrupt, it's as simple as that.

Theirs no much of a difference between living your money in the bank for the sake of accumilation of interest and or using it to invest in an altcoin or meme coin since but has limited possibilities of yielding profit in the long run. In some instances, altcoins can yield profit just like saving in the bank but never has it been equal to the potential that is associated with investing in bitcoin which is far more reliable than any other forms of investment expecially when you're doing it for the long term.

Set your priority right while you're earning and ensure that you're investing into the right and not wasting your funds on irrelevant things. The best time to invest is the time you're getting regular paycheck because that's the only guarrantee you have that you've sown something tangible into your future .

[bisdak40]

kids nowadays are all about flexing on social media spending on lavish lifestyle even when they are still beginning my advice to most would be to save first and get into investing don’t let the flow of money go out find ways for your money to come back to you

the problem is that they receive their first paycheck and they purchase unnecessary items already like the latest phone, expensive clothes, eat in expensive restaurants

don’t do this if you want to be financially responsible

I think it is not a problem if the money they used to buy things came from themselves by working even though it is lavish spending where they spend it on like the latest phones, expensive clothes etc. but over time they will realize the value of smart financial decision and the value of money so let them be and at least they don't use money from their parents in buying lavish things.

[DaNNy001]

The reason why a lot of kids buy things that they don't need or cannot afford is because they are been pressured to do so. social media has made a lot of people think that life is all about what they see online but it is actually not, most of the things posted online are just to get people's attention, this makes them focus more on acquiring material possessions instead of thinking about investing

[Inwestour]

The reason why a lot of kids buy things that they don't need or cannot afford is because they are been pressured to do so. social media has made a lot of people think that life is all about what they see online but it is actually not, most of the things posted online are just to get people's attention, this makes them focus more on acquiring material possessions instead of thinking about investing

We live in a consumer society, where everything around us is designed to push us to buy things that we quickly become unnecessary. And I'm not exaggerating, people buy a lot of junk, which they quickly become useless for, and then think about buying something else again. When we buy something new, we get a hit of dopamine, and then we want more and more. This doesn't apply to everyone, but nowadays consuming is normal in society, no one condemns it.

[imthegreat]

kids nowadays are all about flexing on social media spending on lavish lifestyle even when they are still beginning my advice to most would be to save first and get into investing don’t let the flow of money go out find ways for your money to come back to you

the problem is that they receive their first paycheck and they purchase unnecessary items already like the latest phone, expensive clothes, eat in expensive restaurants

don’t do this if you want to be financially responsible

If someone has children, they also have a wife. And it's wives who negatively impact the family's financial situation. They constantly make purchases that aren't absolutely necessary, so I created a separate "Wife" category in my expense tracking app to understand how much she spends per month.
And it's terrible; she doesn't save at all, despite any discussions about money management. And I doubt I'll get her to read Kiyosaki, a book about fathers that changes everyone's thinking. I sincerely admire thrifty women for the way they bring the meaning of saving to their children.

[Jatiluhung]

kids nowadays are all about flexing on social media spending on lavish lifestyle even when they are still beginning my advice to most would be to save first and get into investing don’t let the flow of money go out find ways for your money to come back to you

the problem is that they receive their first paycheck and they purchase unnecessary items already like the latest phone, expensive clothes, eat in expensive restaurants

don’t do this if you want to be financially responsible

I think it is not a problem if the money they used to buy things came from themselves by working even though it is lavish spending where they spend it on like the latest phones, expensive clothes etc. but over time they will realize the value of smart financial decision and the value of money so let them be and at least they don't use money from their parents in buying lavish things.

Actually, there are several advantages that I have noticed in today's children. Many of them now prefer to earn income from jobs that match their hobbies and daily habits. For example, they show off something on social media, but we know that many young people today even earn income from every post they upload to social media. This is especially true for those who activate Facebook Pro and other platforms.

At first, I was quite disappointed with their attitudes, which sometimes seem wasteful. However, I think they are quite good at seeing opportunities and making money. As a result, many young people today have become independent. So, I think that this issue will vary from one situation to another. Nevertheless, they still need to be reminded by their parents about the importance of financial management and that they must think about the future.

[9ja Amaka]

What gets me is this assumes kids are just stupid. Like they don't know is good to save. But maybe they saw their parents save everything and lose their house in 2008? Or they're doing the math for rent prices and realizing that saving $200 monthly doesn't matter when there are apartments that cost $2000 and only wages that don't exceed $50k.

That is not an excuse for the kids to follow a path that seems satisfying but the end is destruction too. Their parents lose their house, while them in this path will have nothing to lose. The outcome is the same.

I watched my Dad working 9 to 5 jobs for 45 years. That was one thing I learnt. He never cared for business, he never cared to invest. I can say he was afraid to lose his savings in the process of doing a business.

[Jateng]

Kids or teenagers spending lavishly and thinking only about the flashy things in life? Most of us have all gone through that part and we should remember how hard it was to advise us, kids don't listen to advice so I choose to let them be and allow them learn a few life's lessons on their own and then give them advice when they decide to come back to their senses after they might have made a few mistakes. Kids will always be kids and even my own kids at home after a few warnings from me to them I leave them and allow them to make mistakes and then learn from it , sometimes we need to leave these kids alone to experience life any way they choose.

They do this therefore because they do not know the difficulties that lie ahead. Children think that the way they are living their lives will be the same. They do not know the ups and downs of life and in this matter they do not gain the experience of their elders. the other when we were young we were also like that that is when our parents taught us something we used to ignore their words but when the time for these words passed we regretted not listening to what they said. money should be spent according to the sensitivity of the situation because difficulties do not appear when they arise.