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
Of course, self-control is important in economics. When you have self-control, you can control your budget, backup fund, spending limits, goals, and plan properly. Self-control is the foundation of economics, but to get sustainable results, you need to have a plan and alternatives along with self-control. It is good to reduce unnecessary expenses. But in reality, poor families are stuck not because they cut expenses, but because they have excess income.
So the momentum behind financial progress comes from increasing income. In reality, if someone wants to become rich, they have to make good use of their income sources, skills, investments, and time. Without these, no one will be safe or progressed just by reducing expenses.