Quote from: jaberwock on February 02, 2025, 05:29:51 PM

Quote from: asrinur on January 30, 2025, 12:36:21 PM

Managing finances well is certainly very necessary, especially with the increasingly expensive cost of living. Prioritizing needs over wants and ensuring that expenses do not exceed income is a wise step to avoid excessive debt, although sometimes it is difficult to avoid it because in everyday life there are unexpected or sudden expenses.

I think it is impossible for our expenses to exceed from our income and if ever it is possible then maybe we are on a very low-paying job but it is better to quit on them and find something better. I am sure that we can do that if we will only keep on looking and trying our best like in the job examinations, interview, training, etc... As long as our expenses doesn't exceed from our income then we may not fall in a debt. There are indeed unexpected and sudden expenses but that is why savings are invented, so that we can have something to use for them. Apart from it, there are also investing and other forms of earning an extra income.

The situation looks different for everyone. We have people that earns a decent amount(not too good, and not too bad), which is definitely an opportunity to invest, no matter the amount. There are others on the other hand that receives penny(very little amount), and you start wondering how they will feed, buy the necessary things, and also invest. The crazy part of it is that the government and the economy isn't making things any better. No matter the amount you've, you will still not be able to do much due to inflation and devaluation of currencies in different countries.

In as much as spending less than your income is very important and it is a good advice, i will prefer to advice people to work and earn more. There are some countries where citizens receives less than $20 as salary in a month, don't you think it is advisable for that person to get involve in other sources of income, rather than trying to spend less and manage $20?. If anyone wants to live a decent life(not too good, not too bad), then it is either he/she gets a very good source of income, or multiple sources. And we shouldn't underestimate the benefits of self employment, rather than salary jobs.