Quote from: Juse14 on November 24, 2023, 11:37:55 PM

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Quote from: cafter on November 21, 2023, 05:29:11 AM

Do you also find yourself spending more on you payday?, or you approach your expenses differently?

People that are salary eaeners will spend more immediately after they collect their salary. Many of them will have many things to buy in mind but not having money or because they are savings and not want to spend from it will let them wait for the next salary and if they collect the next salary they will spend more. But that does not mean they are not still spending wisely. If anyone collect salary and save from it and also have emergency fund and other important funds saved, that does not mean the person should not go for his needs after collecting another salary but also saving wisely. Although some people spending unwisely.

Salary earners are known for not earning enough monthly salary that can cater for their personal needs and family at large. It's not easy to be a salary earner especially at this hard economic time that prices of commodities keeps soaring up while the money value dwindle continually. I have many salary earners around me in my extended family, I understand they are always in debt as it gets to the middle of the month waiting to clear it after they have been paid salary at the end of the month. They take items on credit from business shop owners with the promise to pay when they receive salary and this is why they don't have enough left to use for investment after all debts has been paid and new items on demands for the new month.

Having investments and savings is of course a hope for everyone. However, if you look at the current conditions, having investment and savings is very difficult in the midst of an economy that is not improving. For those from the middle to lower classes, being able to have a job and earn a salary every month is already very grateful, because by having a job their daily needs will be met. And speaking of, most people shop at the beginning of the month, or when they have received their salary. They do this to prevent the money from being used for other things that are less useful. So for the first time after they received their wages, they had to go to the grocery store to buy rice and other basic necessities as supplies for their lives for the next few days until they received their salaries again.

salary earners life are just in repeated circles as 95% of their salary is swallowed up by foodstuffs and other household needs due to how not enough the salaries these are in a shaking economy that's hitting hard on life. For a salary to have a small cash left for investment after all he has to be thoroughly economical with his salary which means you've got to be cost effective and cut unnecessary spending particularly those that can be foregone, only with such frugality can a low salary earner have something left in salary to invest at least a 5% of his monthly salary.