Financial management is always taught how a person in spending his money for the right needs and they must prioritize something important rather than buying some needs that are not so urgent. A simple example when we can buy basic needs to be processed and cooked at home, so buying ready -to -eat food every day is not needed because it will force money out to be much greater for those needs. When talking about spending something needed then we must be able to place something far more important.
People who are wise in using their finances will definitely prioritize their basic needs first before buying other luxury items that they may not have the time to use yet. Moreover, if he is very aware that making money is very difficult in conditions like now, of course he will learn to be frugal in all aspects and especially in the aspect of spending money for his daily food. Because it is something that cannot be postponed (unless he is willing to starve his body) which will eventually get sick, so basic needs are the first consideration for people who want to use money more sparingly and also wisely in life.
The financial regulatory system's methodogous is a person's step in preparing for his management and if it fails to be managed properly well it will be difficult for anyone to avoid excessive expenses. Unstable economic conditions will definitely force each group to try to save the budget unless those who have income above the average expenditure needed.
Those who have above average income have also learned to save a lot, because they also don't know what the world's economic condition will be in the future, so they also don't want to waste every day. And everyone has also realized that wastage is a very bad thing even though they have more income than other freelancers, because in the end they will also experience difficulties when they continue to spend money more extravagantly through life.