Every year there are new phones and if we fuel our wants always then we have tons of phones and it would be useless as we ain't using them or worse you wouldn't have any savings at all.
I think everyone needs to choose between a lifestyle that meets their daily needs and one that continues to be used in the long term and this applies to everyone. Be it rich people or poor people, because when someone always prioritizes their lifestyle every year by continuing to follow updates on expensive goods that can give them a luxurious lifestyle. One day that person will also be poor if he doesn't care about his income because he feels he is rich and won't fall into poverty again, whereas a poor person would be very silly if he followed this, especially if the poor person doesn't have any savings.
Ensuring that you live the everyday that fits how much you are getting from your annual income, as well as making sure that also means being able to save up, is a must in toady's time. No one should expect to achieve financial stability while living the lifestyle that doesn't financially fit them. I know and have seen a lot of people who had to deal with the consequences such action and decision brings, they soon realized how big of a loss they are doing and how it is affecting their future negatively. On contrast, I also know a lot of people who was able to establish a good financial life by doing the complete opposite, they made sure that they are only buying what they need, ensuring that they are able to make investments and save up some money as well. They still of course enjoy luxury goods sometimes, but too much to the point that they need to touch their savings for it. I think we all need to learn to do that, no matter how tempting it is to live a luxurious flashy life.
Isn't this the classic story of people being carried away by their wants and needs until it's too late? It's absurd how many people, when it comes to money, don't understand how simple it is to live within your means. I have witnessed countless, yes countless, people try to maintain a lifestyle that is beyond of their reach only to fail under the weight of their own bad choices. Don't they get it? Simple math. If you're earning X amount, don't spend Y amount where Y > X. Nothing too complicated there. It's absurd!
There are, of course, smart people who are good at managing their money and making sure they have enough for investments, savings, and an occasional luxury purchase. Congratulations on mastering the basic art of spending less than earning. Give it a round of applause, please.
Wake up, everyone lured by luxury. Being wealthy is a serious matter, and living over your means? A guaranteed path to disaster. Learn from your own kind's mistakes and put the basics into practice. Is it really that hard?
