Quote from: Mame89 on Today at 04:05:54 PM

Quote from: Reatim on September 19, 2025, 06:54:34 AM

is self control enough in this economy?

in order to save money, is it enough to just prevent oneself from buying things unnecessary or limit ourselves to only what is needed to survive? is this a way to live? is there no other easy way aside from earning so much?

sometimes i feel like even with utmost self control you still don’t end up getting rich due to expensive prices and lack of salary in general

Self control is essential for achieving financial well being. However self control alone isn't enough there are many other factors we must manage to improve our financial management especially in today's uncertain economy.

Besides the cost of living is actually cheap it's your lifestyle that makes it expensive. Essentially when people feel undervalued, they will show off their existence to others. Therefore this requires not only self-control in spending but also in emotional self control.

If you lack financial knowledge you'll be trapped in a lifestyle especially in the digital age. With the many temptations of social media platforms like TikTok, YouTube, IG, FB, X, and others, and the ease of incurring debt, many people unknowingly make mistakes in managing their finances. This is why many people, even when their careers are thriving, their businesses are growing, and their income is increasing, find themselves with ever-increasing debt instead of increasing assets.

Money does not purely derive out of discipline and knowledge. It is the outcome of going through a cultural economy where individual identity is continually locked with patterns of spending. People do not just buy things. They purchase membership, identification, even self respect. That is why social media has such a grip: it is not just "temptation", it is an alternative system of value where assets are not houses and savings accounts, but attention and digital presence

The statement that, "Cost of living is cheap, lifestyle makes it expensive" is half truth. Maybe to somebody living in country areas whose basic needs are satisfied. However, city life proves the opposite: it is difficult to explain to a young employee in New York, Lagos, Jakarta, or London that the cost of living is not expensive. Inflation in essentials outran wage gains almost everywhere hence lifestyle inflation becomes the illusion of choice. Yes, you can afford to do without the Starbucks, but you cannot afford to do without the rent increase

The rational result of this imbalance is debt. It is not only because people are weak-willed. This is due to the fact that modern economies rely on consumption debt to continue onwards. This is why liabilities escalate more quickly than the income does; the system rewards spending more, and punishes saving by destroying currency value