your first paycheck

[SatoPrincess]

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

Kids will be kids. I didn’t get much about investments when I was a teenager. Back then, investments meant owning land properties and real estate, I couldn’t think of investing with my earnings from working at retail. Plus I was living with my parents, and didn’t have any bills so I spent my money on stuff I liked. I doubt I’d have listened if anyone told me otherwise at the time.

You might be at the age of 70s. And calling 30 to 50 years people kids. Because that is the age works on government parastatal

There is no place in the world where 30/50 year olds are considered kids.

[khiholangkang]

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.

In fact, it's a big problem, your first salary continues to be bought with luxury goods, doing dom spending or hedonism, it's the wrong behavior dong when the first salary you get, it means it's not the first salary if you have made an investment, this will be out of what the OP means.

The first step should be concerned with building personal financial fundamentals, building emergency funds, reserve funds and that should be done before investing, investing is the last step if you have organized financial management and have money that you can invest for your good investment in the long run.

[Strongkored]

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

This has become a trend among young people today, when receiving their paycheck, their first thought is items they can show off.
If there are young people who think about saving or investing, the percentage is very small, and if one can find them, it is like finding a rare item because such young people are indeed hard to find.
This also happens in my environment, buying an iPhone or electronic devices for gaming becomes the first choice when receiving their first income, and worse, their salary is spent before receiving the next one, still relying on their parents for housing and food.

[Stablexcoin]

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

Why put interest in someone else's income?

People should be free to spend their income whichever way they feel like, its no other man business.

What about those who give their first salaries to church, regarding sacrificing the first fruit as commanded, it's a belief that has to be respected.

People work for their income, they make decisions on what or where to spend it, first or mid salaries don't mean, right spending habit matters.

[Agbe]

There is no place in the world where 30/50 year olds are considered kids.

I don't why it is very difficult for you to understand my posts. Well in most cases I used figures of speech to hide the actual meaning. Since there is no 30-50 year old kids then the Op is also exaggerating the content and that was what I means. Op used kids and said they are flexing but if those people the Op is referring are 30-50 years, they would know how to spend money and not to lavish them. Mostly if they are responsible people in the society. Well there is nothing much to argue here. Adult Education can answer your question very Well. Till today (who's is an Adult) is unknown in that perspective. So I don't know if 30-50 years is an adult or a kid. Adult Education can answer that question. I have seen 70 year old woman, calling 30 to 50 years people children.

[WatChe]

This has become a trend among young people today, when receiving their paycheck, their first thought is items they can show off.
If there are young people who think about saving or investing, the percentage is very small, and if one can find them, it is like finding a rare item because such young people are indeed hard to find.
This also happens in my environment, buying an iPhone or electronic devices for gaming becomes the first choice when receiving their first income, and worse, their salary is spent before receiving the next one, still relying on their parents for housing and food.

I bought a smart phone 5 years ago and still using it because it works fine for me. I don't understand why people spend huge money in just updating their smart phones with latest model. Price of smart phones degrade with time that's why we must not spend huge money on smart phones. Likewise there is no need to waste money on luxurious things whose value go down with time. If someone keep wasting his money on luxurious things like expensive phones, clothes then in the long run one he will surly run out of money.  

[Cheema02]

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

Your point is very realistic, and we notice that in current days mostly young people are focused on flexing on social media and trying to show their fake luxury lifestyle and they done it even when they just start earning. I have some different opinion about cash if we start earning, we should some amount from our basic earning which may be helpful in tough situations and after that step we should going to invest it. The major mistake that done by young generation is that they spend their early income on smart phones, cloths and parties but that all things seemed to be useless if you not on well stabled situation. First, we should spend on financial security that comes with growing good habits like save budgets and investing it wisely. With that smart decisions we can start the beginning of making big in future.

[Royal Cap]

In my opinion it's not entirely wrong, today's children are growing up in a time where instant gratification and instant results are all around. Getting their first paycheck is a reward for their hard work, so it's natural to want to spend a little on themselves, I think the problem isn't spending the problem is not knowing the limits. It's not realistic to save all your money but it's also not right to blow it all, If someone buys something they like at the beginning and saves a little at the same time then there is both mental satisfaction and responsibility. The real balance comes only when you can manage the joy of life and future security together.

[9ja Amaka]

It is hard to advise kids of this generation to live a modest lifestyle, what they see on social media makes them get peer pressure as they want to live their life in line with what they are seeing on social media, social media invariably affect their way of life and how they think, immediately they get their paycheck, the first thing that comes to their head is to visit a fancy restaurants and order food on high price, take a picture and posting it on social media with the name of the restaurant widely showing on the background for viewers to really see where they normally eat whenever they are hungry, this is done to get social media validation which typical different from a real life situation. Training your kids on this generation to live modestly and prioritize saving is a great task to do as a parents.

Breakthrough comes from being stubborn at times. Most kids come from a struggling background, if they want to make a difference in their life they have to do what people say they shouldn't do. I am not in support of stealing, kidnapping, robber and many others bad activities. All I'm saying is, doing what others are doing, like contents, gaming, to meet up in life is a better thing to do. Not minding if they were pressured by their peers or what they see online.

Kids this days, don't take advice in many things. They always do what they want to do at last. Especially kids coming from a struggling backgrounds. They feel advise without help is not meaningful to them.

[Asuspawer09]

I learn about it from a bunch of YouTube videos about finances, it's a thing from the past, your literary fighting a practice that our brain is wire off, so it's really not easy especially if you started working from a student that doesn't really have money to working a 9-5 job it just feel like a huge leap and you think that you could buy anything, Having that paycheck is going to be a huge challenge how you are going to spend it.

But what I do everytime I always remember that whatever I do to the money is going to determine my future, so If I quickly spend my earnings or my salary on some expensive thing that is not really important, It's not really going to be good in the future, I always try to remember that a 20$ right now is not going to be huge but if I save it and it started to compound interest it is going to be a thing that could be my future. Personally I starting to change my habits, and slowly and start doing things that is going to help me manage my finances well, It's still not perfect but if I compared it from the past years I would say that Im kinda responsible and I learn a lot from my past mistakes, I start building my boring financial foundation so that in the future I could achived financial freedom early.

[uneng]

I believe it's normal to spend the first paycheck on things people most desire, as it's a very unique and new experience they are having. It's quite exciting. So it's not really a big issue. The problem starts when the person continues with this practice each new month, unable to save anything along an entire life.

I've seen people behaving like that and reaching a more advanced age without achieving any solid patrimony. That is sad and frustrating to watch this happening, even if it's not with yourself. It must feel like a complete failure and wasted life.

Therefore, learn with others' mistakes, so you don't have to trail the same distorted path. This way, you are going to avoid a lot of headaches, regrets and other negative feelings and situations in life. Money isn't the solution for all our problems, but it can indeed solve a lot of them, especially when you have worked honestly for it, while putting it into good use.

[Orpichukwu]

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

This action sometimes occurs when a person is hanging out with friends who they consider to be competitors with them instead of just friends; they need to keep up with the trend. Instead of thinking about investing in their future, all they care about is how to enjoy the moment, and they don't consider themselves old enough to start investing in real life, as they think their parents are the ones taking care of such for them for the time being, which is a very wrong way of thinking no matter the age of the person.

[Felicity_Tide]

~.snip

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

This problem is more of adulthood related, rather than kids.
Like I always say, a time will surely come when we all would have to take a sit, and question ourselves on certain decisions that we took in the past, that where never right. Of course, everyone has the right to do whatever they like, but In today's world, a lot of people now confuse those right for stupid decisions. Flashy lifestyle when you're not financially stable is definitely a problem, and failing to know that you have such problem is also another problem on it's own.

A kid might eventually not know the importance of these things, which is quite okay, but failing to know this thing while being an adult doesn't sound good at all.

[wozzek23]

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.

I think age matters. Almost all ages uses social media now but I don't think a mature person will get tempted on buying this xxx phone that they see on the social media sites. That is if we are on the context of being cool because there are also items advertised on social media that are built for adults like eyeglasses, makeup, and massagers and an adult person can get interested on them but it is only for personal use and not to make them cool.

And then they don't buy it often unlike to when there is a newly released phone model (iPhones). Buying a trendy item, can still make someone to struggle to work hard and earn/save money first.

[Renampun]

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

What's wrong with buying things you want when you get your first paycheck? I did that, does that immediately make me financially irresponsible? not really, to determine whether someone is financially responsible or not, cannot be seen only from one decision, it must be seen from their long-term habits. moreover buying something when you get your first paycheck is a form of appreciation for yourself, have you never appreciated yourself for the achievements you have made? you are so pitiful.

[fredericktaylor]

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 is natural that after we get our first salary in life, we want to fulfill all the needs of our loved ones with that money. There may be some very necessary needs, some unnecessary ones, but at that time, the mind is focused on enjoying our emotions and pleasures, but I don't see anything wrong with it, but I think that by spending that money, we can get self-satisfaction that is not possible at any other time. If we calculate and spend money from the beginning, it is right that we can save a lot of money as well as protect ourselves from excessive waste of money.

[El_Tammy]

Sometimes, what we see or find when we open a thread is totally different and far from what we expect a thread to carry following what we may have seen as it's topic. It might be or sound funny to some people but I think some posts or in normal terms, threads shouldn't be allowed because they clearly show that many of them are made just to increase activity.
How can you mention first paycheck as a topic and you wrote something totally off what you should have written—it is really disappointing OP.

I think there (many of these posts should be checked properly and well by moderators because I don't think there are worth allowing.

[Mhizlove]

Do you know the meaning of kids? Everybody know the meaning of kids and it means young children. Have you seen kids or young children that are receiving a paycheck for the work done? No one will employ underage people to work for them.

There are truths in what you posted but it should not be about kids but it should be about everybody regardless of age, although young people under 30 years of age can have the mind of spending money unnecessarily, but that does not mean older people do not have such mind also.

You have a point, it's very important to make it clear because kids are young children and is known by everyone that children don't work legally or earn paycheck , so this message don't be meant for children or kids alone.
 
To be sincere with you, reckless spending don't have age range and truth those under 30 can spend unnecessarily, so many older people still makes this kind of mistakes because age don't automatically guarantee you financial knowledge or wisdom.
So this supposed to be everyone both young or old should have the wisdom when it comes to money, to be financially disciplined it's from your mindset and not by age. If someone don't learn it earlier or late eventually money will always get finished no matter how old you turn out to be

[Agathamay]

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

Seek financial assistance because involving oneself with prospects of lives. Receiving your paycheck, there's a lot of things to do with but some will still choose to spend their money on irrelevant things. The young generation have no business with the current ongoing business. They have full concern about making up to the trends. However I wouldn't blame them because they're still very agile and always ready to link up with the trend.

[Johnlomape]

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 people that you think don't know how to spend their money and investing it in the way you have described, that should not be your problem at all. Do not forget that their are people that are born rich that have the money to lavish at any given time. These people should not be your problem but those people that are born in an average home, working all day so that they can feed themselves and live a normal life. There are homes where lavishing money is a normal thing and it's seen as a regular lifestyle. You don't have to blame these people for the kind of lives they are living because the money is money enough to spend.