Post
Topic
Board Economics
Re: How to avoid over expenses and have discipline
by
irhact
on 22/08/2023, 20:49:28 UTC
you can't really avoid spending too much, especially if you're extravagant. But if you can discipline yourself and control yourself, I think it's easy for you to save here. Set a budget for the month you will spend and then save the excess, but of course you also need to save for emergencies so you don't touch your savings.

I know it's very difficult, especially controlling yourself to not spend. But I think that if you do it, you will get used to it and it will be easy for you. Just don't be hard on yourself

You can avoid overspending if you budget your expenses very well, it's called overspending because you're spending on things that doesn't matter and when you realized that you can then easily reduced your spending. For example, if you were using an Uber, you can stop using them and go with buses or taxi for your transportation and you would have saved costs on transportation. Same thing can be done for other areas of you life and you'll have a good spending habits.

Many individuals are living above their income and that's why they don't have savings because they have too many expenses they have to handle but if they only reduced their standard of their living, they'll have enough savings to handle other important expense and invest for the future.