What is the harm of wasting money?

Do rich people spend money differently than ordinary people? There is a difference between spending money and wasting money. When you invest in something you can afford, it’s not a waste of money. Even if you have a lot of money, you can spend money on unnecessary things from time to time. But you can’t afford it, and you don’t need to – spending money on something is a waste of money.

Again, having money in your pocket to buy something means not being able to afford it. For example, you have 50 dollars in your pocket for a month. There are still ten days left in the month. You see a limited edition watch in front, which costs 30 dollars. Now you have more than 3,00 in your pocket – but can you afford to buy this watch? – What will happen to you if you buy the watch for 300 dollars? If you have 1000 dollars in your pocket and spend 800 dollars on it behind the clock, it would not be wise.

Capacity doesn’t just depend on the amount of money in hand – there are other things involved.

If the money in hand can be used properly, people’s lives can be changed positively. It doesn’t matter how much you earn. If you can use this money correctly, you too can be truly rich or financially free. But if you waste money without using it properly, you will have to spend your whole life in want. No matter how much money you make, you won’t find financial freedom in life if you don’t know how to use money properly. And to help you a little to be financially liberated and truly wealthy, we have come up with 6 areas today. First, you will spend the rest of your life without money in cases where you waste money.

1. Credit card

Credit cards have become a social status. But it’s a huge trap. The primary purpose of credit card companies is to get people into the debt trap by accustoming them to a lifestyle that they cannot maintain. Once you fall into this pit, people go deeper and deeper, and there is no way out of it.

This credit card encourages you to eat at a restaurant that can’t afford to pay the bill, to buy a device that you can’t afford to buy. He doesn’t even understand when he spends money – he has to repay this money. Whenever you are stuck in a debt trap, don’t work for yourself anymore. Then work for a credit card company. Borrowing can be done in times of danger or emergency, but maintaining a lifestyle or borrowing beyond one’s means wasting money. Once this habit is made, money will not be available when needed.

So, if you have a credit card, you can keep it in mind for emergencies – but if you spend badly with it, you will fall into the trap.

2. Excessive spending on clothing and cosmetics

You may have seen many people wearing bright brand clothes, spending a lot of money on hair styling – who have no money in their pockets. They often can’t get the money out when they need it. – Because they have spent the money they need on clothes, perfumes, and cosmetics.

If you spend extra money on these things, you will not move forward in life. Celebrity Costumes, hairstyles – it isn’t very intelligent for ordinary people to copy. When a man has millions of rupees in excess – he can do all these luxuries. But if one does this before reaching that stage, he will not go to that stage again. If you look closely, you’ll see that Jack Ma, Warren Buffett, Bill Gates – or the kind of prominent entrepreneurs who dressed like they did before they got rich – haven’t changed much in their style since they got rich. When you grow up, your appearance and personality will be the biggest ornament.

So, try to make yourself an ornament without wasting money and time on jewelry and clothes – that’s the wise thing to do. Buy the best outfit you can, but don’t waste money on it.

3. Waste of money behind food

People waste a lot of money on waste – one of them is wasting money on food. If you have millions of extra dollars, you can sometimes eat at a good restaurant with your loved ones. But even if you can’t afford it, going to different restaurants and eating expensive food and checking in means that you are one of the fools of this age.
Suppressing one’s appetite or food cravings is very important for self-control and self-development. It is also good for health. So, instead of eating to satisfy the tongue, eat to satisfy your needs. Fast food or rich food is not as good as the food. These contain excess fat, oil, sugar – etc. To improve one’s life, one needs to use money properly and keep one’s health in order. If your health is good, your body and brain will work much better. You have to be more discriminating with the help you render toward other people.

4. The latest technology

To move into the current era, of course, we need to know about technology and use it. But there is no such thing as a new gazette market.
Those who buy new phones or gadgets like this waste money. There is no need to buy these unless you have to. Especially those who buy them to show off – their economic future is bleak.

Warren Buffett has been using his old Nokia phone for a long time, even in the age of smartphones, because he does not spend money unnecessarily.
Tech companies prepare at least 3 to 5 versions and then launch new products. Then, little by little, they give them to their new devices – so that more money can be snatched from people.

Do you think the technology of the 2019 version of a phone was not in the hands of the company at the time of releasing the 2018 version? They have to calculate when they will leave. They trade billions of dollars with the help of human emotions and stupidity. After buying a new device, many people realize that nothing is done except a little change in the model. Then it is a pity that only some money went out. If you are intelligent, do not fall into this trap. Buy new devices just for the sake of necessity, not for the sake of luxury.

5. Going to clubs/parties

This culture is mainly from Europe and America. After working hard all week, I got up in a hurry at the end of the week. Dance – It is as bad for the body as it is for the pocket. On weekends, middle-class and even lower-class westerners resort to this stimulus to relax. But there are also people in their society who are genuinely working people – they spend the weekend with their family and themselves. Through rest, family, and healthy recreation, they rejuvenate themselves for the next week.
As much as they destroy the mentality – they also damage the money.

Wherever you are, if you have to do something really good in life – avoid it as much as possible. There is a saying among the rich people of America from time immemorial, “If you are not seen in the club, you will not be seen in the bank for a loan.”

There are many ways to enjoy life healthily and beautifully. For example, if you feel bored, go to a beautiful place with good friends, hang out healthily, spend time with family.

6. Gambling and intoxication

These are just some of the goal-setting shareware that you can use. There can be nothing more significant than gambling and addiction to killing a person.
To this day, no one has become a real rich man by buying lottery tickets. I couldn’t even gamble. This money goes where it comes from. But, unfortunately, even many millionaires have become addicted to gambling.

True rich people never waste money on gambling. A 2012 Yale University study found that people at the bottom of the financial position chart were the ones who wasted the most money on gambling (61%) – while the natural rich increased their money by investing it in the right places. After watching James Bond movies, those who have the idea that ‘Cool’ and ‘Rich’ gamble is nothing more than the tragic victims of propaganda. If you have this habit, even if it’s just a little bit – then get rid of it now. Otherwise, your financial situation will soon become miserable, and you will lose your acceptance as an individual.

We are not talking about becoming rich, at least to secure our economic future, but come out of this trap; otherwise, you will be in terrible danger. And there is nothing new to say about drugs. Everything from cigarettes to everything else is wasting people’s money. If you habit of smoking a little, you will not have money when you need it. I left out health. And the addiction to cigarettes is the biggest curse for a human being. Personal unrest, loss of health, loss of values, loss of life – intoxication is the root cause of all this. If you have a habit of smoking ten cigarettes a day, then stop for one month, or play five instead of 10, and you will realize how much money you were wasting without knowing it.

Even with all the bad habits, if you stay away from this addiction and gambling – you can still be much better.

Appendix:

There is a tendency among the youth nowadays to maintain their status in society at their own expense. Therefore, many are knowingly harming themselves. But many do not realize how much their future economic security is at stake. Because the habits that a person develops at a young age – that indicate his later life.

If you have any of these ten money-wasting habits – try to get rid of them today. Otherwise, you may have to live in financial difficulties all the time in the future.