your first paycheck

[liuka]

The issue of their first paycheck being wasted on unnecessary purchases? Maybe the person wants to buy something they've been longing for, so they buy their dream item.

Who knows the second paycheck and so on they can save more.
Still, if the person does not have financial management then the money will run out quickly, today's children prefer to look cool rather than having to save it maybe because of the social environment there. Not all working children are like that there are also those who can save and invest from a young age.

[Alone055]

It depends on someone's nature whether they will spend the money they are earning responsibly or will simply waste it. You can't talk sense into such people, because they don't care; if they cared about anything, they wouldn't be doing that in the first place, and if they are spending all the money they are earning on useless stuff, it means they don't care about their future, they don't think of doing something that will be useful for them in the future because they will probably not be earning the same amount of money forever, but since they don't care, nothing can be done.

Those who are responsible by nature will think about these things, and they won't need someone else to tell them. It also depends on how someone's life has been in general, because someone who has seen a lot of hardships in life will understand the value of money and will try their best to do something for their future, but someone who has never seen hardships because their elders have always taken care of everything, for them, money wouldn't have that much value, and they wouldn't know the importance of creating assets for the future.

[FirmWars]

The kids that you see online showing off a luxury lifestyle on the social media are being sponsored by their parents, uncles or aunts, if you say a kid's first pay cheque, it means the kid is already working but as the first comment said, no employer will employ a kid, if you are referring to someone that is already above 20 years as kid, it means you are already a grandpa or you are above 40 years of age and therefore referring to people around 20 years of age as kids. People would always do want with their money, perhaps if you see kids showing a luxury lifestyle on social media, it doesn't mean that they don't have investments, they won't tell you they have investments, you will only see what they want you to see.

[Hispo]

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 agree young people are supposed to think about the future and learn how to invest their money, so they can think about retirement or starting their own business when they are the head of a household.
However, I think spending the first paycheck on something like clothing or a good phone is not necessarily bad, as long as it is just the first paycheck and it is done as a ceremonial thing, if they use the next paychecks to save and then invest their money, then it is okey (in my opinion) to enjoy the first paycheck on things which engage with our most hedonistic side. The key is not getting used to it and understand money is difficult to earn and is supposed to be guarded tightly.

[Abu-Naim]

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

You don’t expect kids to have the same sense as you, they are only doing what will make them happy that’s why they focus on playing games and so on just to have fun and play with their friends, they don’t have that mentality to think about investment or so, you can’t blame them if they use their first paycheck to purchase a game they have been dreaming for just to be happy, and mostly, these usually come as a gift from their parent or loved ones. If they have quick orientation about Bitcoin investment, they can embrace it early which is what we all wanted so that they can learn easy and faster; also to be able to accumulate as much Bitcoin as possible using the DCA method.

[Churchillvv]

Divisions of paycheck before its arrival helps one to make better decisions all the time, sometimes guys may not cover your daily living expenses because the influence in this community of social  media people  deal with, some guys unknown then they will claim different professions and then start doing what was there mean intention. Unnecessary things that I’m seeing here is very long and us unbelievable.

[G_Besar]

The issue of their first paycheck being wasted on unnecessary purchases? Maybe the person wants to buy something they've been longing for, so they buy their dream item.

Who knows the second paycheck and so on they can save more.
Still, if the person does not have financial management then the money will run out quickly, today's children prefer to look cool rather than having to save it maybe because of the social environment there. Not all working children are like that there are also those who can save and invest from a young age.

The environment can indeed influence everyone, regardless of age, because it becomes a habit when it's done consistently and unintentionally. Likewise, people who don't like saving but prefer to spend their money following trends often face problems in their lives when their money is spent on less important things. I quite understand what you mean because I often see people who prefer following trends over pursuing the struggle, such as saving or investing in Bitcoin and other better assets.

[shinratensei_]

First paycheck is for spending lavishly, the next paycheck is for bills and saving. It's the general rule for people who got employed for the first time in their life.
That first paycheck won't turn you into billionaire if you keep it. So it really doesn't matter if someone spend their first paycheck lavishly or not. I think you got something else to worry about than just the first paycheck here.

[AbuBhakar]

The environment can indeed influence everyone, regardless of age, because it becomes a habit when it's done consistently and unintentionally. Likewise, people who don't like saving but prefer to spend their money following trends often face problems in their lives when their money is spent on less important things. I quite understand what you mean because I often see people who prefer following trends over pursuing the struggle, such as saving or investing in Bitcoin and other better assets.

Based on the survey I see online, the younger generation today is  much wiser at handling money compared to older generations. They are also probably more likely to experience job changes and increase the increasing value of commodities, so they want to have more assurance for the future by saving money or not getting married too early.  

There are just young people who are born rich, and their parents can afford their luxury. So we can't blame them for showing it to others by posting on social media that they can afford it, so let them be happy with what they have.



In terms of investment, they should be the ones to be educated first because they are the ones who are responsible for their own hard-earned money. It's a good option to learn to invest, but you cannot force them to do it, especially if they are not ready yet.

[NotATether]

There is no paycheck in investing unless you get a job at a trading firm. I think you are talking about trading profit.

Well it is not very wise to get into a lavish lifestyle unless you are consistently profitable in trading, because a few bad trades can wipe your account (and your lavish lifestyle along with it).

[Liboy95]

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

In my opinion, it's normal for them to buy whatever they want with their first salary. It means they appreciate their first salary to please themselves. And that's normal in my opinion.
Because not everyone has to be the same as what you said.

[bakasabo]

Instead of stealing Christmas presents, Grinch has stolen OPs periods and commas...

I have received my first paycheck when I was 10 or 11. I took part in filming TV advertisement. Spent money on toys, most likely on Lego. Should have invested instead? Absolutely not. People receive first paycheck at different age. Investing is not a universal advice that must be applied to everyone. Even if a person is no longer a kid, I think he should spend his first salary silly; on "unnecessary items already like the latest phone, expensive clothes, eat in expensive restaurants". A person has whole life ahead. Let the first paycheck be spend unwise to feel last moment of unserious and silly life.

[Razmirraz]

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's more accurate to call them teenagers, not kids. In my country, no one employs kids who are still minors because it is against the applicable law. Your suggestion is right, saving or investing will be better than wasting money in places where it shouldn't be spent. But on the other hand, their actions of spending money are not entirely wrong because they want to enjoy the results of their first salary as a reward for themselves.
I don't know how old you are now, if you are 40 years old or older, maybe you have also felt the same sensation when you received your first salary. A person's mindset will change as they get older, but if teenagers get education about financial responsibility sooner, maybe they will realize it sooner.

[junder]

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

It's true what you say, the majority of children now tend to prioritize lifestyle compared to preparing for the future, but some are also more concerned about the future, it's just that this is less than those who are concerned with the trendy style.
With the example of cell phones, now many people are trying to meet their lifestyle standards by wanting to have the latest cell phones and some even go as far as taking out loans to meet the style, which is bad.

[lizarder]

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  

That's normal and I don't think the first paycheck should be used for saving or investing. Sometimes we need to celebrate a small success at work to buy something we need. This isn't about expensive luxury goods, but rather necessities like clothing. When should we start saving after successfully securing a permanent job? This can be adjusted from the second month onward. However, I recommend that they focus on fundamental investments. If they see short videos on social media that can't be properly verified, they're more likely to get trapped in questionable investments.

Building a fundamental investment structure requires knowledge because it is impossible after they get a salary from work to immediately put everything into investment because what is most needed is to understand the investment they are doing and this is what is often misunderstood by people because they only focus on investment but do not consider the growth of the assets they can choose.

[Bluedrem]

People earn for enjoyment. So I think that after saving as much money as is needed for life or a little more than that, a person can enjoy his life with the money that is left as discretionary income later. If I only earn money and do not use that money for my life needs, then there is no point in earning that money. Yes, saving for the future is important, but that does not mean that we cannot make unnecessary purchases to enjoy life. It is certainly better to enjoy pleasure by making unnecessary purchases when I can make the purchases from discretionary income.

[LogitechMouse]

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

Let them be. That's the best advice that I would say to them. Let them experience the lavish lifestyle that they want to. Later on, they will realize that having that kind of lifestyle isn't forever and at some point, they need to work in order to have the kind of lifestyle that they want to in the future.

You can advice them to save, but I would rather let them do what they want to do with their money since they've worked hard for it. I'm pretty sure at some point they'll experience hardship, and later on they will realize things therefore, they will make an adjustment and they'll either continue the lavish lifestyle that they have, or they'll make an adjustment, and save for a better future.

Are you affected by these kiddos having a lavish lifestyle?

[BlackBaron]

It actually doesn't matter if someone has a lavish lifestyle, as long as it's proportional to what they bring in. One more thing, don't let them spend more than what they can earn, and one other note they should also make sure when they live a luxurious life it is after they have made an investment.

But it is better to live a simple life, they can allocate the money for luxurious living to be allocated to investing. Preparing for the future is better and wiser too. Do not let us be luxurious when we are young and difficult when we are old, which should be a time to enjoy life.

[maydna]

If their parents explaining about managing their money and suggest to get into investment, they will have a bright future and preparing their future to be better. They will learn managing their money and not just spend without knowing if that is useful or not.

It is a job for parents to explaining how to manage the money properly so their kids don't use it for something that is not right. It will open their eyes that they have better future. If their kids interest with the investment, they will saving the money to the right place.

If they work and receive their first paycheck, they will knows how to distributing and allocating for their primary needs. They will give some portions to their investment and also their needs. They will not waste the money without any reason.

[TheUltraElite]

Because of multiple reasons, when I got my first paycheck I invested about 80% of it in different asset classes and the rest I kept for daily spending needs, with support from my parents too. Currently I see this sense has come down and people do spend more than they need, but with proper awareness and teaching from family members they too can become frugal and understand the worth of each penny.

Those who are showing off lavish lives, people like them have lived through out the century and not made much name except among the fools whom them influenced.