Most of Us Spend Money on Things We Don’t Really Need.
Stop being a slave to consumerism.
The other day I wrote a post detailing that most of us spend money on things we could get for free.
These things we can get for free are Books — we can borrow them from the city library. Pets — we can adopt one for free. Use 60’s banks — we can use digital banks and pay $0 in transaction fees. And underpay taxes — we can hire an accountant for free to pay fewer taxes according to the law. The law allows low-income people to pay less tax.
In this post, I want to write about things we spend money on that don’t make sense. We could use that money to live great moments.
If you look closely, anyone who consistently spends more money than they earn has financial problems or even money worries and quickly falls into the debt trap.
In today’s fast-paced world, more and more people are struggling with their finances and taking on liabilities, i.e., incurring debt. And this is not a big problem. We all get into debt at some point in our lives.
The big problem is that most don’t want to learn how to handle money correctly. They don’t have discipline.
Regardless of active income (as opposed to passive income), everyone can find a way to not put all the money they earn back into consumption.
Some will now say: “…I just have to earn more soon…” this phrase is a common misconception.
Those who have a nice monthly income usually also increase their standard of living and thus spend more and more money.
As a result, even people who withdraw $10,000 or more per month hardly have any money left over to save.
You have a lot of debts (fast cars, big house with pool, sailboat, vacation on credit, etc…) that even high monthly salaries can hardly pay off, and money worries arise quickly.
Those who have only between $1,000 and $2,500 available every month can hardly understand that these people — supposedly wealthy — have money problems due to debts.
In the case of a short-term need for money, it is important to make sure that the loan taken out does not become too expensive, and flexible handling would also be good.
In the standard case, people with even lower incomes usually have financial difficulties. Often the little money available is spent on things that are not really necessary.
People with low incomes should only be concerned with paying rent, living well, and traveling around the world. Don’t spend money. You don’t have to impress your neighbors.
In general, if you have money troubles — because you don’t know how to deal with it, you should consider whether you can do without Tesla and cigarettes — this is bad for your health — or whether you always need to buy brand-name items when shopping.
In any case, you should avoid taking out consumer loans.
Debt incurred for consumption is “stupid debt”. On the other hand, debt incurred for investments can make sense.
Anyone who has gained money quickly, for example, through a large inheritance or a lottery win, cannot cope with the new financial situation.
Money that came suddenly also goes suddenly.
Only those who have really learned to handle money wisely and intelligently, to save and invest in a targeted way, will not have problems or worries with money.
Without debt and with a solid financial base, you can live more carefree, and your health will be noticeably better than with a lot of money worries.
Living well doesn’t mean spending money; you don’t have to impress your neighbors and co-workers.
Living well means living every second intensely. Living without worrying about what others think because you don’t buy what they buy. Damn their garbage.
I don’t know about you, but since my rent is paid, all I care about is living well, eating well, and traveling the world.
This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any major financial decisions.