The Wrong Notions Towards Spending, Saving & Savings

Image: Owned, taken by me

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When I was younger, I discovered that I saved more despite earning less, while a few others who were close to me who earned more, saved less. In fact, my immediate boss earned a bumper pay, he had the opportunity to land that job on a platter of gold, he was someone who lacked so much prior to that job, but immediately he began to earn really well, he cultivated a specific spending culture Spending more and hardly even saving anything.

Originally it is thought that one's Financial background can make them a saver. One's experience with implosion due to not having a savings to take care of emergencies can make people savers by experience especially when they're opportune to make money prospectively in the future.

But this isn't true. Originally, the fear of going back to ground zero is why many rich people are presumed to be stingy or misers, while this can be true, it isn't always true.

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On a Logical Perspective....

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One of the reasons why people chase more money despite the fact that they already own a lot is because they want to attain a level where the extent to their expenditures will not affect their means. This is typical of wealthy people who had nothing from the beginning.

Wealthy people who have had everything given to them often find futility in the aspect of making more money and this is because they haven't had to be in a certain level in life where they'll meet emergencies which they cannot cater for. This can be very dangerous.

So the fear of hitting ground zero is why wealthy people aim for more money. Nevertheless, the people who were poor but have been handed an opportunity at making money sometimes find it difficult to save or aim for a better height. This is often cause by the sense of deserved pleasure after a period of lack of want

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The Sense Of Deserved Pleasure

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So many people allow their sense of deserved pleasure ruin their saving mentality. Sometimes not having money makes people crave for some unimaginable comfort beyond their means. I used to know people who would say "when I have money, I'll eat the most expensive meals and wear expensive clothes".

While this is often a terrible resolution for someone who is broke, they tend to see it as deserved pleasure for all the times they've suffered. The truth is, this mindset is why a lot of people who gets into a better financial position after being broke for a long time find it difficult to grow their little earnings in aim of purpose for a better life.

So while being broke and needy can motivate someone to actually save, there's the psychological aspect of deserved pleasure that often counters these possibilities.

So, people are different, the psychological background of different people sometimes determines their marginal propensity to actually save, spend or consume. In my situation it was totally different. I was born around people who showed their means by the way they actually spent and lived, by I had a foundational experience with saving.

I started working at 17, and it was the ostentatiousness of my father that thought me to be a better saver, this means that I learned how to save and spend from home, rather than allowing my external environment to actually influence me.

Saving is a principle or discipline that people cultivate irrespective of their financial background. In fact people who save have more direction in life because they have a target to meet, when people are stuck in targets, they're always giving off a higher level hard work, and secondly they cultivate the culture of living within a particular means.

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Financial Background Environment

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Sometimes the inclination of people to spend more than they earn isn't dependent on their financial background, sometimes their immediate Financial environment and exposure often determines this a lot.

The logic that poor people should automatically be better savers than people who are wealthy is totally false, this is because it takes more than having a thriving business or an empire of booming venture to actually be wealthy. Subconsciously, frugality makes people save more. The reason people are frugal is that they want to save more, this doesn't stem from whether they're wicked or they're not.

However it is, the saving and spending culture is an art that has been mastered by many while a few others hasn't, this is to say that how much you earn isn't exactly the measure of your means, but how well your means can multiply into other streams.

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My name is @Josediccus, a young Nigerian entrepreneur who is a Vlogger, A Psychologist, Poet, Sports Writer/Analyst & Personal Finance Coach. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers

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@Josediccus, your brother-in-pen & heart

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