Getting avenues to spending is easier than getting avenues to earning
Recently I noticed that I have so much curiosity to spend more than earn. I used to have this as a balance where I earn enough and then only spend what I earn but these days I do a lot more spending than focusing on earning. In a way, it is good as I'm happy with the spending I'm doing but at the same time, there is a small fear that I could be spending a lot more than what I'm earning.
I wanted to give some thoughts on this topic and write an exclusive article on the spending strategies of people.
Curiosity to spend
Spending is addictive. Especially when we are attracted to many things, we would want to buy a few things that are being held by either others or the things that are useful for us. At one point it might have been tough in terms of affordability but when we have the resources to get it, there is an obvious curiosity to spend and get what we want.
People naturally love shopping
It is not just me but I noticed that many people love doing shopping. They say that ladies love to do more shopping compared to gents but I wouldn't agree with that as there are also men who do a lot more shopping compared to ladies and in my house, I'm the one doing a lot of shopping when compared with other members in the family. I also like to purchase experimental things. Sometimes even if the item is not very useful for me, I would still want to buy it and use it.
Some of my office colleagues also introduced me to new websites where some items are cheaper to purchase. I experiment with such things and would like to explore good and interesting things.
Earning additional income
Earning an income to cover our expenses is the most important thing. Shopping and spending on things we like the most is good but at the same time, we should have the potential to earn an additional source of income that would cover those expenses. We should be able to cover the basic needs we have and on top of that, we should be able to purchase additional things that we want. Having an additional source of income is good in that aspect. Apart from the regular income, having a secondary income is good and if that income is passive, it is even more better.
Savings should be first before expenses
Before we think of doing some expenses, we have to make sure that we push enough money into the savings. Money in savings is more important because it will help us during the later stage of our life when we don't have the energy to work and when we would like to relax and live the life the way we want to live.
Many successful people say that we have to first keep the money for ourselves before we spend it on our debts. This way there is a natural urge created for us to understand that we should be earning more income to cover the expenses we are doing.