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Financial guide not an advice!

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Avatar for Laurenceuuu
Written by   248
2 months ago
Topics: Finance, Savings

YOU ARE SPENDING YOUR MONEY IN A WRONG WAY!

In our previous blog, we talked about people are getting rich, but you are not, why? Which gained decent number of viewers because of the secrets and reasons of why people are becoming poorer instead of becoming rich, it also broke my most paid article. Now, this blog will tackle about finance, but take note that I am not a financial adviser, and anything written on this content is not a financial advice.

Nowadays, people love spending than saving especially if they have money on their hands, they can’t control themselves in buying their desires and ended up in buying such nonsense and useless things. It’s hard to avoid if you don’t have discipline to yourself but it can be resolved through a process.

If you are one of those people, this blog may help you to avoid buying useless things that you didn’t need.

KNOW YOUR MISTAKES ABOUT FINANCE!

People are now lending money from their friends or relatives just to have the things that they think that they need it, but the truth is not. Sounds confusing? It is easy as what you think!

Think of a situation that you lend a money from your friend to buy a car because your house is too far from the company that you are working, do you think buying a car is the best solution? For me it’s not! Why?

Buying a car can help you to have a good ride and comfortable trip to your office, on the other hand, you are thinking that you avoid hassle trip but in reality, you are giving yourself a problem financially.

Come to think of it, if you buy a car, you will pay for your gas, you will pay for its maintenance, it’s possible that you will spend money for its customization. As a result, you are adding more expenses to your pocket and that can prove that you are spending your money in a wrong way!

Don’t worry, we will discuss on how we can spend our money wisely…but before that, think of this second situation. A lot of people are buying useless and worthless things just for their desires or wants instead of the essential things that we need.

Remember that your needs and wants has a huge difference from each other. According to DictionaryCambridge, “needs are the things you must have for a satisfactory life. ”

These things can be the shelter, foods, clothes, and anything that is essential, and you can’t live without it.

Meanwhile, according to Dictionary.com, “wants are the things to feel a need or a desire for; wish for, always wanting something new.”

This simply means that they are the luxurious things that we can live even we don’t have those things; they are not essential.

Overall, wants are the things that we only feel a need, but the truth is not. On the other hand, needs are the things that we can’t live without.

The next thing is undeniably especially if you are the one who’s holding a money in your house or maybe a financial manager in your humble abode. We always feel the mirth every time we hold a money, it feels like money are hypnotizing you to buy different things. Well, this thing is not only happening to you but also in other people.

Commonly, we can’t control our emotions when we are holding our money with our hands, buy more things that we don’t know if it is helpful or even productive…but don’t worry! We have a solution for that!

…the objective of this blog is to guide you in managing your money and budget to be able to save more money compared to spend it every time you have it…and he is the most awaited part!

Instead of buying luxurious things such as car, house, or anything that you feel as your needs, buy a thing that can produce money! Not literally but figuratively, how about buying a house and let other people rent it? Sounds good? Buying multiple house for your own sake is not a good idea, are you going to change your house every week? I bet that you are not, therefore you need to stick in one house unless necessary. You can buy a house but for pocket and wallet’s sake!

Instead of buying a luxurious car, why not buying a small store and let it grow by your own hard work!? Car will only produce expenses—more expenses. It will consume gas, maintenance and customization but it can’t produce money! It’s good to have a car if you have a lot of money, how come if you are only on the middle-class status?

CONCLUSION

Lastly, using your money in a productive way cannot be called as wasting, it can be called as investing and growing your money. It’s good to have a knowledge when it comes to finance as the price of every products from the merchants are continually increasing which we can’t or hard to control.

However, the objective of this blog is only to guide you in saving and spending your money wisely. This is not written to change your decisions nor perceptions about finance. Always invest at your own risk.

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Avatar for Laurenceuuu
Written by   248
2 months ago
Topics: Finance, Savings
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Comments

I used to spend a lot on shopee. Every time I see a huge sale, I ended up buying the things that weren't necessary but since they were on sale, couldn't help myself but to buy those.

Now, I rarely spend anything, except for my furbabies dog food. I don't mind spending quite much on this area though. But I'm more on saving na. I started saving even before I knew crypto pero this is the only time that I learned to prioritize saving money over spending.

And in return, I've made a huge progress na in just a matter of time unlike before. And tama ka about sa car. Hahaha.

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2 months ago

I'm lucky that I also don't have much expenses because I'm still a student that's why I'm saving enthusiastically for my future.

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1 month ago

Yes, that's also my mindset and it's okay to buy some things that you want even though it will not generate you money if you first attain your needs rather your wants. For instance, I already reached my goal for my cellphone since that's what I need. Then, I could buy now luxurious things unless I have extra money to spend.

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2 months ago

You are right, it's good if you will treat yourself sometimes. We deserve it.

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2 months ago

I agree with you, and I guess I will apply it sooner if I'll have enough money to invest haha hope I will because I'm really into business or investment type of person. Anyways thank you for the tips.

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2 months ago

Remember that you shouldn't work for money, it should be the one who works for you. You're welcome and thanks for passing by:)

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2 months ago

Noted and I'll look forward to more tips and guidance from you 😊

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2 months ago

Thank you for the support

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2 months ago

Your welcome 😊

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2 months ago

I know someone who buys iphone smart watch and used it for a month or two then sell it at a lower price less than 2k! Grabe lang haha! All I can say is that its not how much money you make its how much money you save :)

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2 months ago

not how much money you make its how much money you save :)

I am reading a book and this line is familiar! I believe on that. Maybe the one whou bought that watch and phone is richer than Bill gates and Steve Jobs, or maybe even Elon😆

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2 months ago

Hahahaha! Nope!

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2 months ago