What Makes You Richer- Your Salary Or Spending Habits?
Let’s start with a situation- One of your friends has bought a new cell phone with a beautiful slim body structure and amazing technological features.
He or she came and started flaunting the bewildering features of the phone and the amount he or she paid for the product.
you be enchanted by the world of gadgets start listening to every word your friend utters about the cell phone.
Also, you have started contemplating things in your mind about the gadget. What if I get it? Then I can also flaunt the features in front of my friends!..and so on. But the question arises How?
This is the situation of our mind when the chances of squandering our money occur. Now, a lot of you will have a question, if I am having an adequate amount of payroll why should I even bother? I can buy that cell phone too and can vaunt the features.
But this is the situation, about which the whole article is dedicated to.
What to do in such a situation?
One beautiful quote for those people facing this situation to pacify their eagerness to buy the cell phone- “Wealthy people invest first and then spend what is left, broke people spend first and then invest the leftover”.
Does the quote suggest that before spending your money on buying anything maybe a gadget or a car or a house or even spending your money on lavishly eating in a five-star hotel, you should definitely ask some questions to yourself do I need this? Do I deserve this right now? Is it so necessary to buy a particular product just to flaunt?
This is because the flaunting of new things bought comes in people’s minds of every age. When we were young our parents used to advise us and even sometimes scold us not to spend on unnecessary items.
But when we get older, maybe in high school we are surrounded by some of our buddies who possess expensive things. Now obviously, if we are having a model lower than them may be of a cell phone or car or bike we feel ashamed to hang out with them.
That is the time we force our parents to buy us expensive products just to flaunt in front of our friends not even having the know-how about how much they are working hard to get that money for our studies and household needs.
Students out there,
Don’t make friends who will be friends with you if you are of their level, make real friends.
Have friendship with those, who will never judge you the way you are and always accept you as you are. In this way, you will get friends for a lifetime and trust me you will never hurt your parents.
So, for you people here’s the thing. Getting influenced by people is a good thing,
but should not be copying everything they do. It will just lose your identity.
Yes, we should upgrade ourselves and buy things we love, common on that is why we are working hard. But even if we are having a decent wage, we should not randomly buy things just because someone else has bought it.
Just think in a different way guys, maybe we will be having a lower model of a phone or car or bike, than our expensive friend or colleague but yes it’s working fine and still looks good.
So, you should first enumerate in your mind about your important expenses, maybe after that, you can plan to buy your dream car or bike or any gadget. Because along with the product you will buy, a lot of expenses will add on for its maintenance, insurance and so on.
Let’s Check out some points about the stock market
Stock market or share market is basically a gathering of consumers and sellers of stocks, which designate ownership claims on the business.
A lot of people try their luck in the stock market to earn more money to get what they dream of alongside their jobs. Of course, a lot of them earn lots of profit but some lose whatever they have invested.
Definitely, the share market requires another level of a business mind, skills to invest in different company’s stocks and when to buy or sell them, which definitely comes along with a lot of study and experience.
People randomly jumping into this sea of business expertise field lose, so guys rather than being greedy first contemplate about the things. So, for those people:
” Learn, but primarily from the experiences of others, it’s much cheaper”
“The stock market isn’t a gamble, as long as you pick up the good companies that you think will do well in future, and not just because of stock prices, because they can anytime come down or can rise high”
Steps to save more money:
1} Have your expenses record. Whenever you get pocket money or your hard-earned salary, just list up your expenses according to your priorities.
Also, keep track of the expenses you are spending your money on.
2} Always try to save from whatever you have. This habit of saving from even the minimal amount will genuinely lead to saving huge amounts when you will be earning a decent amount.
3} Try to find out ways of cutting out spending. Try to segregate things as essential and non-essentials, where you can reduce spending money. May it be entertainment, lavish dining, gaming, etc.
4} Set some saving goals. At first, you will not feel like doing it, but once you start it you will definitely enjoy seeing your bank account full of savings that can be further used. Maybe to buy your fantasies.
5} Save the money and watch them grow. Do a monthly review of how much you have saved. Not only will this help you stick to your personal savings plan, but it also helps you identify and fix problems quickly. Understanding how to save money may even inspire you to find more ways to save and hit your goals faster.