Question

financial. financially set. please discuss the following what are some ways we get financially stable in life, so that the growth and development can go seamlessly through out the adulthood stages. . what are some ways we can realistically create additional or increased income so that we can achieve greater financial goals in life? . what discipline would we need to have in other to sustain a savings for lifes bigger expenditures like a house, car, vacation, retirement, etc. please keep it short. 250 words only

Answer 1

One of the most important effects of materialism, individualism and uncontrolled freedom has made many people go into financial trouble. It all began with the American Dream which set standards of living and pushed people to achieve. Capitalism on the other hand played its role in bringing out clamorous products, selling them in installments and creating demands for luxurious products thus forcing people to overspend and end-up in a debt trap.

The first thing to live a satisfactory life with savings is to balance the income and expenditure. If one do not have any savings in the initial stage, it’s not a problem but one shouldn’t go into deficiency. Second thing is to spend only on the needs and not luxuries such as furniture, gadgets etc. Food, shelter, education are basic needs for which one needs to spend. Cooking at home, sharing accommodation, less number of parties in a month etc. will help one save money. Third thing is about cutting down on frequent vacations because one of the most expensive things for the middle class family is long vacations. During the vacation, one not only will spend more money, one will also lose the income had they gone for work. For a more vibrant and healthy life, one could prefer short trips or join a wellness club. Finally, one can also look for opportunities to do a part time job online which has flexible working time thus not disturbing the regular work and income.