Creating The Perfect Money Perception Towards Saving

avatar

20230121_062131_0000.png

Where I come from people believe you need to have enough money before you can save. While this isn't the problem, the problem is actually the definition of what "enough" is. You see, people themselves are in a position where "enough" becomes a marathon rather than a destination and this makes it difficult to achieve it as a state of mind.

Originally, it's true that we're insatiable, but if everyone begins to give in to their default perception about money, it'll be difficult to see self-improvement as an important aspect of our economic and financial development. The truth is that we can never attain the ultimate stage of satisfaction, what we mostly do is lower the scale to the highest level of standard that's out there.

Training The Mind

We do this by training our minds well enough to understand the importance of creating limits, where to create these limits, and when to set boundaries. When it comes to money, our expectations are inelastic and this is because our imaginations are limitless, so if we don't train ourselves to see a tipping point, we might see some of the importance of things like saving.

Another thing we can never achieve is the perfect state of convenience. For example, people wait to have bulk money before they can dream of owning businesses. Now having bulk money or capital is one of the highest stages of convenience when it comes to owning a business, it means you won't have to worry about incurring unplanned expenses, and you have to freedom enact plans and decisions.

Capital is not enough

No matter how bulky our capitals can be, it wouldn't still be enough to completely build the dream business we want. This is why we should understand the concept of Mental preparedness even with limited resources. The whole concept of economics is about how to manage, the reason why we see the need to manage is that we understand that "enough" is a state of mirage that's probably unachievabl.

If we don't train our minds to see this, we might halt the most important financial decisions in our lives simply because we need to have enough to begin. When I was younger, I loved the concept of saving even if this wasn't what I learned in school or learned from my parents. The truth is that my parents led a life that brought so many financial consequences but I was aware of this and learned out of fear.

Learning Money Principles Through Fear

I was surrounded by people who lived for today and only saw tomorrow as a miracle, but this was another definition of living from hand to mouth. Ironically, people see tomorrow as a miracle, but they make terrible decisions that put them in a bad financial situation in the future. People subconsciously negatively affect their future but find it difficult to consciously impact their future positively.

The excuse to ignore saving because of not having enough is gotten from the state of total comfort. A lot of people do not think they need to inconvenience themselves in the present to secure their future. It's hard to convince people to put away 30% of their monthly income will not make them go hungry, rather it'll only make them shift the 70% of available income to suit their needs.

This means that no matter how much we have, our survival instinct will always kick in to create acceptance of the resources we currently have.

However, this is where financial discipline and awareness wonders and it makes sure that we always derive the same satisfaction when we spend 70% or 100% of our income this is because no matter how much we decide to put away, we're always going to derive the same utility, because of the state of mind we decide to activate.

The Sense Of "Greater Good"

Nevertheless, this can only happen when we attach necessity or a feeling of the greater good when we're taking financial measures that can create a sense of deprivation at the moment. One of the things I did while living in deprivation was tap into the sense of the "greater good" and also tap into the perception that the future is what we plan or make of it.

Sometimes for people to truly understand the importance of saving, they need to imagine or envisage the implications of doing otherwise. Some decisions don't create any advantage, rather they make sure we don't incur unnecessary implications and this is good enough.

Interested in some more of my works?

Reviewing A $400 Samsung Galaxy A72 (photos Included)
Hive's Scalability & The Compromise Of Commitments
Money: The Consequences Of Making The Right & Wrong Decisions
The Nigerian Economy: Monopolizing Incompetence
The Experiential Process of Understanding Money
A Case Of Theft On Hive: Here's Why Some People Choose Scam.

png_20230102_074302_0000.png

Posted Using LeoFinance Beta

finance neoxian proofofbrain ctp vyb hive-engine money hive leofinance
0
0
0.000
21 comments
avatar

A lot of people have this mindset that they need a "certain amount" to be fulfilled...Some even make the matter worse by not having a reason why they want what they want. They simply just want it and that to me is the first step in missing out on the drive to achieve it.

0
0
0.000
Reply
avatar

I guess it's the magic number of financial freedom to them. A figure where they feel they'll reach some level of fufillment.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

Some get to that point and realise there was nothing to it...There has to be more to life than numbers...and granted it is very important to have money...I feel it is more important to build purpose.

0
0
0.000
Reply
avatar

Well, some people want to have the money before the purpose. That's the thrills that comes with it, but when they get it, they'll understand they needed a plan in the first place.

0
0
0.000
Reply
avatar

There will really never be enough money. And when people think that they have to have a certain amount of money to start saving, that is very wrong - the same mindset many have about giving.

A lot of people do not think they need to inconvenience themselves in the present to secure their future.

Its really a pervasive mindset among many youths. They want instant returns, so when you explain a project that will yield something in a year or two, they are not interested.

If we can someone create a proper mindset about saving, building and managing money, it would not be long before our dreams are turned into reality.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

I remember saving in my first job and it was just so difficult for me. I couldn't survive, I couldn't have enough to go buy, but I kept on doing it because eventually the savings would come in handy.
The generation before this one were better savers. I think this is why the younger generations are comfortable with having it all at the moment.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.

100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.

0
0
0.000
Reply
avatar

It's hard to do so but in my case, I just prefer being able to retire early. If I can save up enough, then I am sure that I can make everything work out and I just don't want to slave away for someone else. In my own mind, I just weight the options and I naturally pursue savings.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

You're right that it's difficult... But it's exactly because of retiring early and having bulk money for investment that we choose to save. Your perspective is great.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

Good saving habits takes years to develop. Many people have an unrealistic money perception because it's purely emotional for them. I was lucky enough to have the concept of saving money ingrained in me since I was young. The analogy was growing a gigantic tree. With each passing day the tree gets bigger and the habit becomes stronger.

Apart from the financially aware, today's generation are not so keen on saving.

0
0
0.000
Reply
avatar

Apart from the financially aware, today's generation are not so keen on saving.

This is exactly the true, saving is like planting a tree and today's generation are not keen on that, maybe it's because there are more fringe ways to make money and there are more fancy things to actually spend on. I think you are very lucky Indeed.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

Yes, having too many options plays a huge part in it. I think it's one of the main reasons why many people don't save.

0
0
0.000
Reply
avatar

Where I come from people believe you need to have enough money before you can save

Same here, what I think is Enough money when your needs are being fulfilled and the way you spend money should be responsibly - doing bargain etc.

I avoid my not necessarily wants and save those money for a better tomorrow. Making this habit of saving money is a real deal and makes a Person better like self control a much needed thing.

0
0
0.000
Reply