Post
Topic
Board Economics
Re: Habits that can lead to your financial failure in 2024
by
Jody.Drummer
on 26/04/2024, 02:53:33 UTC
Social media and instant life have influenced young people today. The existence of social media and the feeling of wanting to be recognized makes people willing to throw away their money just to fulfill their desires, not their needs.

This is a big problem and I see it everyday kids these days are so easily influenced and they are persuaded by their peers to buy this and that of course part of growing up is wanting to have some kind of feeling of belongingness that is why kids want to be in the in they want the latest, the trendiest things which is why kids these days make a lot of poor financial decisions
but I can't judge them negatively if they manage their finances well even though their desire is to buy branded goods but they have to set financial limits so they don't waste money, but you have to know that they are motivated to work hard because they want to have the dream item they have long hoped to get. buy from your own income without expecting financial help from parents, so don't forbid them from buying branded goods but advise them to save their income and they should save for future needs.

Yes, even though their method is quite good in terms of collecting money by working hard, what is wrong here is that the purpose of them collecting the money is to buy something that is actually not very useful for them, as you said, buying branded goods and I'm sure they are typical people. who are more concerned with lifestyle than their future so their way of thinking is short, but I think in terms of their efforts they should be appreciated and maybe we just need to give them advice and input about better allocating the money in savings for the future or like saving to build a house for the benefit of the family after they get married, and another thing is that if they buy something with money from their own hard work then maybe we can't blame them because after all it is the result of their hard work but maybe the right one is us direct them to something that is actually more important than buying something that is not beneficial in the long term.