Quote from: inthelongrun on Today at 08:13:59 AM

Quote from: Renampun on November 28, 2023, 06:20:48 PM

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

I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.

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

My parents used to always shop for basic necessities monthly when they just got their salary at the beginning of the month, they would definitely set aside half of the money to save as savings so that when an emergency happened, we wouldn't have money difficulties and because my parents get a salary on a regular monthly basis, it is better to spend on a month's needs rather than buying them on a daily basis and currently I actually also apply the same thing, I shop for my family's basic needs weekly because my partner and I earn money regularly weekly, we save the rest for our future needs. spend the money you get for your important daily needs then save the rest, that's the teaching my parents keep telling me.

I really hope all people have the same mindsets except for those rich people since they already have the luxury to do it anytime. Buying supplies daily or a few days in between is somewhat costly and time-consuming compared to buying weekly or monthly. I also buy my supplies every month and some of them are even good for over a month. There are also discounts when bulk buying. Saving is a must for a normal family and companies and institutions should always remind their workers about it. Some companies here in my country used to have yearly assessments of their employees' financial situations and I find it very useful

Is it true that all wealthy people may shop differently? Interestingly, financial wisdom doesn't always correspond with wealth. Rich people often make bad financial mistakes too. Financial literacy goes beyond bank balance. Your bulk shopping and saving plan is admirable, but does it account for different lifestyles? Storage space, upfront expenses, and future needs limit bulk purchases for many. Isn't it more about tailoring financial plans to individual circumstances than universal solutions?

Financial stress can impair mental health and professional performance. These assessments are useful, but do they respect employee privacy and autonomy? Respecting personal boundaries while providing financial advice is crucial. Companies should promote financial education and help without paternalism. Don't you want to provide staff with information and tools rather than watch their finances? Creating a more responsible and aware workforce could benefit both the individual and the organization