Quote from: Silberman on Today at 06:56:17 PM

Quote from: Gozie51 on Today at 06:09:27 PM

Quote from: Ben Barubal on June 05, 2024, 07:35:59 AM

And due to a lack of spending awareness, we become impulse buyers. Until this habit becomes our second nature or the worst, we base our spending on what we want other people to see in us.

Some people are spendthrift and there is nothing any one can say or do about it. Those spending doesn't really mean that they are rich but it is just there life style and that is the way they will be without changing, except they have someone maybe a couple who can balance it off for them. But to spend isn't about being rich or poor but the way people live there life. So therefore, there are rich people who are not good spenders, they are not wired that way while some poor people or average people live the life as if they have all the resources that supports the way they spend money. It is a lifestyle though can be balanced and curtailed.

For what I see there are many people that want to enjoy the lifestyle of the rich but without the wealth that this requires, so while for the rich buying a luxury item is something they can do without thinking too much about it, someone that does not have that level of wealth should not even think about acquiring such items, but they do and they do so to a great cost to themselves, as they have to get a massive amount of debt in order to sustain that lifestyle, but the problem comes when it is the time to pay and they have to spend decades doing so.

The rate of shopping done to show off to others is quite high. Most of the expenses are made just to buy something, not out of necessity. This madness must stop. Making such purchases also causes prices to increase.

Spending does not indicate whether a person is poor or rich. This is more a matter of habit. Trying to live like the rich without being rich will cause both debt and a negative situation for the future. Everything we have said can be improved if we become conscious individuals and our economic habits can become better.