Everyone wishes to be rich, of course, and this is mostly to live above one's basic needs while exploring their wants and being able to at least afford 50% of their desires but there are some specific people wishes their bank account can be to be fat and shapeless.
This directly means spending hugely without it having a negative impact or effect on their reserves or savings.
However, one's income must exceed their expenditures if one wants to live above inflation and still maintain their financial standing. Having money itself is a burden, I feel that having to make decisions is easier than the ignorance that comes with indecision.
Activating Multiple Choices
Having multiple choices, being exposed to potential commodities, and merchandizing while having the money as purchasing power is not necessarily a good thing.
It's good to have money to activate any wants or needs, but sometimes, one's affordability will only last when they're activating it to take care of essential things.
Everyone in life has a level of affordability, and the higher you can afford, the more choices are unlocked for you. This is why we make some commodities, services, or comforts or needs even if they're only meant to be a luxury on the surface.
The Thin Line Between Need, Want & Desire
This means that the things we'd generally see as evitable or inessential can become the needs that are important to running our lives especially when the purchasing power is there to make it a possibility.
This means there are no differences between needs, wants, and desires just like studying conventional economics would imply as the only thing that differentiates them is being in a state of lack and having money.
What we might necessarily consider luxuries are the needs of others this is why people need to weigh their finances rightly, because this might serve as a limit to their discrepancies.
Creating Utilty For Wealth At A Certain Stage
However, let us not dwell on the Disadvantages of scarcity and the sense of mental or financial constraints that comes with it. Sometimes, not having money saves us from spending on what we might not necessarily have the mental capacity to manage.
Many young people in Nigeria want to own cars because it's a status marker, it's a way to showcase class and even one's financial capacity and all these purposes come before the need for transportation, the reuse for Income, or even for business purposes.
So because their reasons to own cars are the former rather than the latter, it only means that it'll be difficult for them to afford maintenance which directly translates to the fact that they're not mentally capable to manage to own a car.
The Bliss That Comes With Being Financially Irresponsible
There's bliss in not being tasked with the responsibility to manage money even when some people would think they don't mind being tasked with being responsible for a huge amount of money. I know a lot of people who think that the ability to survive the economic situation in Nigeria is qualification enough to survive in any other country, but this isn't entirely true.
Sometimes being overseas can even be tougher but because of the urge for emancipation away from inflation, police brutality, lack of opportunities, and unemployment some people would prefer to leave even when they don't know the challenges that might lie ahead.
However, it's important to understand that there are responsibilities that become necessary especially when one's financial situation is changing and this is why people must strive to be mentally capable.
Interested in some more of my works?
The Intrinsic Propensity To Spend Money
Poverty: The Unwillingness To Spend?
A Scenic Bathroom Photoshoot
The Importance Of Having A Contingency Money Plan
Translational Value; What Is Your Worth?
Using Crypto As A Means Of Transferring Will
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Reading this,two things became clear to me. 1. When you truly need it for the right reasons, the money would come because your mental– or let me use mind in this case– has weighed all the pros and cons of purchasing whatever it is. They have made calculations and they know what and what they can or can't handle. It's like nail to magnet. 2. Those who desire it not because they need it but because they want to impress society end up loosing it. I've seen lots of them. They sell the car or phone they had no business buying in the first place and loose more money than they gained. SMH. A girl I know bought 12 Pro when she clearly did not have the source of income to maintain it talk more of herself. One thing I keep telling myself, before I make a purchase that leans more on my desires, I ask, would I get this money back? When? What are the chances of a doubling in profit within the next six months? Ha! She sold the phone six months later to use a smaller one. Same with a bro that owned a car...
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Hahaha girls and iPhones, a match made in heaven lol, I think the examples you gave with that guy and that girl only signals that a lot of people overestimate their finances because they do not think of sustainability or repercussions. Even with a stable income it's still difficult to maintain affordability but some still sees minimalism as a sin.
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🤣🤣🤣🤣... What do you mean a match made in heaven?
I think it's important to always think. Before deciding to change my phone, I had to put a lot into consideration. I'm doing it now even. Things like data plan, it's duration and stuff. I'd hate to be stuck trying to change my phone only one year later 😂
Economic level affects a person's life, needs often take precedence over wants but lifestyle affects the economy because of the tendency to be known by the public.
What a choice of words my friend lol. Great topics and discussion as usual man. You have the will, capability and desire to be successful bro, you got this. Its a big new world, and people definitely want it all.
!PIZZA
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Financial education is very important and everything in this post talk a lot. Our financial decisions must not be taken anyhow.
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Living below one's means to maintain financial standing is an issue of simple mathematics haha. Many still somehow don't understand this. I know it's hard to do, especially in a materialistic society, but mathematics don't care about our situation. :)
Yay! 🤗
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Ah, a lines I'm forever walking :)
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It's tough to balance everything and the decisions you make when you are in financial trouble are tough. Like you said, it changes from place to place but I do think that being able to survive financially in a bad place will help slightly in a new place.
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This is absolutely true, balancing out these decisions can be very tough and demanding. It takes quite a lot
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