One thing most people talk about is their income especially when their financial life is not going well, People often think that their income is the only thing that plays a major role in their finances but this is not true. When you start earning your salary, your life changes and at that time you might not be earning much but as time goes on things get difficult and with that income. You find it difficult to take care of yourself. The problem is that we cannot control how much we spend and the salary is still good.
When you look at things people spend money on 70% of it is on things that they can do without which means most of these things are not the necessary things. They spend more money on what they want, The more money they earn the more they increase their expenses which makes our income so little. This is why you see people earning a lot of money but they are still struggling. This is because they have increased their expenses as their income increases and why this happens most of the time is because we can’t put our ego in check.
We all want to feel important
Most people spend a lot of money on their ego and not on their needs. People pay attention to things that could make them relevant and things that also make them feel relevant and not things that they need and that is why most of their possessions are built around their ego. Big companies know about this and that is why the word luxury has been misused in countries like Nigeria because they know that one of the easiest ways to massage people’s ego is called a product luxury but in a real sense it is just an unnecessary product that 90% of the population don’t even need.
You notice that when you were not earning a lot of money, you are living comfortably and your small salary or small income is enough for you but the more money you make the more it get difficult for you to get by. most of your income is spent on your ego, on things that make you feel important and you mostly care about how people think about you not what you think about yourself. It is difficult for you to manage your income but if you’re able to put your ego in check, it becomes easy for you to manage your finances.
Do it right
The easiest way to manage your finances is to know the difference between what you need and impulse buying. You can only identify these by managing your ego because we pay so much attention to how people see us by buying so many things that we don’t need rather than putting our money into good use. This is a major reason why people find it difficult to save money. We’re in the society where there’s a lot of products that you don’t have that you do not need and some of these product are just there to massage your ego and You don’t need them, but if you can put your ego in check, everything becomes better and you find it easy for you to save money.
Thank for your time.