Hello Cent Platform!
Spending is an essential part of our daily life and it's essential for us a humans but our spending habits can be measured in a positive or negative paradigm.
One thing have discovered here in Nigeria is that most go to the market with their debit card without listing out items they want to buy and finally they purchase things that they don't need at the moment. This is a clear indication that people spend their money outside budget, which is risky when viewed from a financial management telescope.
Also, many people spend at source. What this means is that many people spend as the money gets to them without planning or any budgetary provisions. This is very dangerous to the individuals financial integrity. This is because after calculating the more they've spent, they might feel regret and think they would have made some savings out of the bulk cash they received and spent.
Truth be told, everyone wants to live large even those who don't have businesses that'll complement their luxury. Living comfortably is good but having a source of supply is one of the determinants for continuous living large.
One of the consequences of reckless spending is it'll make you become poorer or a berger. Reckless spending is a drainer of resources, although those helping you to spend the money will not let you know the consequences.
If I may ask, as a reckless spender, how do you manage emergencies when you don't have savings at all? No one can predict whether emergencies will come or not and if it eventually comes only those that have savings can overcome it.
Way Forward
- Cultivate the attitude of saving, planning and investment. This is because no one can predict rainy days. This is why the Bible encourages everyone to learn from the ants 🐜🐜🐜🐜. The ants gather food and crumbs and store them for rainy days.
- Avoid wasters. Wasters are friends that push you to spend recklessly and do not advise you on the dangers of spending recklessly.
In conclusion, think about the consequences of your actions before they lead you astray. Every action has equal and opposite reaction.