The Wrong Notions Towards Spending, Saving & Savings

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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.


On a Logical Perspective....


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


The Sense Of Deserved Pleasure


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.


Financial Background Environment


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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17 comments
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I didn't know this until my adolescent years

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.

Being from a very humble background, my parents taught me to be self-sufficient and reliant thereby aiming always for selfimprovement in all aspects. I grew up with the mentality that if I want something I should work for it and it has really helped me over time.

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Well background can play a huge role, sometimes, but not actually everytime. In your situation it did, in mine it wasn't me being taught, it was me externally learning from observations and choosing to be better. Thanks for dropping by.

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I master the savings and spending years ago, I suffered a lot and poverty force to read more books create habits I thought I wouldn’t.

Great post

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Poverty can be a motivation in a positive and negative way, but I've seen it had the best and worst of impact on even the best of us, I'm happy it's made a lot of us the people we are. Thanks for dropping by bro.

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I kind of agree. When I was a kid, I never got any allowance so I had to make do with whatever was free. So I remember myself going to the library quite often to use the computers there. At least that made me value money more.

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Yeah, I guess that experience did the job to some certain level, Nevertheless, overtime we cultivate own our unique principles towards saving.

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This is really a nice write up to change or improve people's orientation. Well, I strongly agree with you. However, I guess people not seeing the positive side of saving is a strong factor affecting them. Or better still they have fear of saving due to little earnings that they feel can't even be sufficient for upkeep talk more now saving.

I hope you understand point of view sir. Nice write up once more.

It will be a great pleasure following you sir in order not to miss out from beautiful contents like this and more to come!

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Well if a person can't save when their needs and unlimited and their resources are limited, they certainly can't do so when they have enough means and resources. It's the mindset, not the means or resources.

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Nice view sir.

But sometimes our mindset is willing but our source of income limits us.

I strongly agree with your view sir. But this one too might be one of the reasons. What do you think sir?

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Nice content... I learnt a lot from this!

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Thank you for this very article @josediccus
Your content are always informative and power packed

Saving is one crucial thing people have found themselves lagging behind on even I myself... Still working on it
Then I got a wonderful tip from one of my Mentors who said it will be profitable to save in a way that increases in value... Not just dumping funds there

I'm thrilled to be among the beneficiaries of your post
@khingstan Cares 🤴✌️

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Thanks for the comments, sorry for the late reply. Well I don't know your mentor but the thing is, saving is more than setting aside for any sort of futuristic emergencies. The act alone is how many how come to build wealth by themselves.

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I understand the "I deserve it mentality", tried to have to, I just can't because of the fear of having nothing.

I guess when you have suffered lack, you would never want to go back.

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Some people have suffered lacked but still find it difficult to be disciplined with spendings, this can be peculiar in a sort of way. But then I guess mostly many learn discipline from lack. Thanks for dropping by

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I think there is always two effect of a particular situation; a side who want to stop it from happening again and the other who feels like they need to enjoy because it happened.

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However it is, we should strive hard to be disciplined still in our convictions.

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This is very true but most people generally lack discipline.

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