Saving Money Overcoming spending temptations when saving money?

[Bookwormlux]

Saving money requires a very high sense of discipline, and we know that if one lacks such discipline, you will definitely be tempted to go into your savings account and spend without any sense of responsibility .

There are just a lot of people who are out there with similar situations, whereby they were able to discipline themselves and save a lot of money , but they ended up in a situation that cause them to become tempted and then spend everything they struggled for months or even years to save.

Overcoming the temptation of going into your savings account to spend everything that is there is not easy and this is a major reason why some people find it hard to overcome it.

I really want us to discuss on what are those outages that can be deployed to make sure that we can safely overcome the challenge or The temptations that come whenever we are saving throws a particular goal .

I believe that by sharing ideas here, we will better engage ourselves so that we will be readily prepared should we be tempted to spend the money we have struggled so far to save.

The best way to work on your temptation for spending your money is , to keep the money in a bank account whereby you won't collect any debit or credit card to avoid such temptation .

Do you agree with me on this?

 

[blessingc]

One needs to avoid unnecessary spending, visualize your goals, compare prices of things before purchasing, have a strict policy if going for your needs and not just what you want.

 

[Kendy]

The greatest challenge that comes with saving money is the urge to spend it. The first time I started saving money Inna bank, within two months interval, I started using the money and I became reluctant to continue the process because it was as though I was saving just to spend it on feeding. It is difficult to save money when you are not doing anything tangible to support yourself. There is no way I would have some savings and literally I am out of money and food items, then I would have to dip into my savings wallet so I can have the energy to work for more savings.


When I worked as a teacher, it was very impossible to save because of the poor payment method, which was delayed and when it was finally paid, our salaries would be slashed and our take home packages was worthless. I ended up in so much debt and had no impact like someone who was working. If I continued with such process, I would never even know what it means to save money. The best way to save money to avoid dipping into it, is by having other source of income and probably fixing the money for a long term duration.

 

[Mika]

A lot of people save money just because they can spend it. I will give you numerous examples. People save money so that they can buy a TV, a car, go on a vacation, buy an iPhone, by Macbook, etc. I don't mean to say that you should not buy these things or never enjoy your life, what I mean to say is what is the point in spending your money when you might have to live a miserable life in your old age, or what if you do not have any money just when you actually need it (to pay for an operation, for example).
When you have money in your bank, you are always tempted to spend it, well this is human nature. There is also a psychology behind this. Spending money, or let's say buying things is good for your mental health. However, you should always overcome the temptation. You can do this by putting your money in a fixed deposit bank account instead of a normal savings account. When you have money in a normal saving account, you can withdraw whenever you want, but when you have money in the fixed deposit account you can withdraw only after the term end.

 

[Dora Wi]

I think that the most important thing is to be realistic with ourselves and find a method that works. For some people, it means classifying certain spendings off-limits. For others, what works is using cash and separating them into categories in envelopes, only putting as much money in each envelope as they want to spend that week/month.

 

[eldavis]

Like you said, savings requires a high level of discipline, the kind of persons you associate yourself with also matters alot if you hang out with people who see Notting wrong in spending on unnecessary things, then you would start spending like them in no time, simply to just feel like you belong. When you hang out with does who are conscious about how they spend, automatically you start acting like them.

 

[Sotherefore]

Thank you for sharing , this is mainly and only for people that have the interest to save their money in the bank which to me I do not have the interest to do so . Most of my investment are digital investment that deal with the investment and saving of money in cryptocurrency and this is even the most difficult one because if your coins is actually reducing in value you are not likely to sell it to use the money , sometimes even if the coin also increased in value you still want to hold it for it to continue increasing.

It all depends on people but anyone who is determined to save money will always try as much as possible to save and those who do not see the need won't even have a way of saving but will rather look for reason here and there which is not the best.

Before so many people find it difficult to save their money , we should also look at the long-term benefit of saving money. It can really help you to do so many things in the future such as establishing a business or buying a land or any other valuable commodity.

 

[Rachael]

Having the ability to save money is not an easy decision and determination to make. There are so many people who wish they could have the ability to save money but their income does not come in handy. I know that a lot of persons would say that having low income is not an excuse not to save but in reality, it is a valid excuse. Imagine that i earn $25 a month and obviously the cost of renting a house in my country is on the high side. No matter how small or the location of the house, you would not pay anything below $100 per annum.


The cost of transportation to work and other activities is on the high side as well and it might be impossible to trek to work considering the distance and if a worker is late, his or her salary would be deducted. Now, coming down to the feeding aspect which is also very important, the prices of food items is very expensive and in the plight of all these, the minimum wage is very low and the one thing that never changes quickly in my country is salary especially in private firms. In such situation, saving money would be difficult. The aim of saving would be to pay for my house rent. To overcome spending temptations, I think an individual should get a high paying job that can at least cater for his needs.

 

[TOZZIBLINKZ]

Majority of individuals today claim that they are saving their money but once a single temptation comes from either a friend or from within his body that individual lose his guard and falling into the temptation of spending his saving money . That is why me personally , so as to avoid being tempted to use my saving money I usually advised my employers and business managers I work for , to pay me my salary or renumeration not in cash , but rather they should transfer it into my bank account to avoid me looking at the money at all . I also prefer being cashless that is I make use of my ATM when I need cash rather than all the having the cash in my hand . Research and studies have shown that individuals that make use of physical spending of cash and more likely to spend more than individuals that use ATM card to purchase goods .

This research and analysis is actually true , and even I myself can testify to that . The introduction of ATM cards in existence have given people the mindset to only buy what they need are not what they do not need .

 

[Ithedicious]

I have passed through most of those things so I really understand how most of them really work , that is why I don't have any problem with saving. I try as much as possible to save all the money I need because that is what I needs.

What I am seeing as the reason why some people are not able to save their money is because they don't really have something to do with the money there are earning which is not the best because if you have something to do with the money or you have a good saving or investment plan you will always be investing your money on something that will benefit you in the future .

A situation in which a person is just earning money and be saving the money in the bank will always lead to the temptation of using the money to do something that won't really be profitable that is why no matter what we try to do we should try as much as possible to get some sort of investment that will really help us to save our money for long-term . That might be the only way as I understand .

 

[Chibson]

Many people who do work and at the end of every month they get paid, one of their greatest challenges is overspending and the reason may be traced to their personal lifestyle and the kind of people that surround themselves with.

I always try as much as possible to make a budget for myself on monthly basis and I try very well not to exceed that because actually I mainly invest than i save. About 70% of the money I make on monthly basis mainly goes to investment and of course I think I will try as much as possible to also save more.

There are certain things you must know and do if you really want to be saving money and overcome overspending temptation and one of them is making a budget. A lot of people make budget but they are not disciplined enough to follow the budget strictly. You really need to be strict on yourself if you really want to save any reasonable amount of money at the end of the month.

Another thing is that you need to cut down on your lifestyle because if you have an expensive lifestyle, you will find it very difficult to save any reasonable amount of money or even invest in profitable businesses.

 

[Augusta]

Saving money is never easy not with the different bills and expenses we are confronted with daily. it is good to fight it and try to einn
it is always good to save money and overcome overspending temptation and it is good to start with budgeting. it is not just about making a budget but you should disciplined your self to stick to it. you need to follow the budget strictly.

Then another is to be disciplined enough to cut down on your lifestyle . A lifestyle that takes more money from you daily will make you fail financially because an expensive lifestyle, you will drain you.