Ladiesofhive contest wk 169: Needs over wants; achieving financial goals

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Hello beautiful #ladiesofhive, I welcome you all to my blog and I hope you all are doing great.This week's topic by @kerrislravenhill made me remember my University days, when the economy was still better than this, money has value and I get to see people giving me money as gifts.

My parents and siblings always bless me with money and with this I spent so much, go to boutiques and buy colourful clothes that when I get home I might not really want this cloth again,some when I wear once I am already tired of it, then I have to give it out as it will just be a waste, I bought bags too and I hardly go out so what do I need these things for?

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I guess I was just obsessed with having beautiful things in my closet, just a glare at it made me feel comfortable I had all what I needed but what happened to my savings? I had nothing.

1️⃣ I annually work on my home budget every January and my recent walk through of a major shopping center reminds me how our financial goals can get undermined by the temptation to spend. What are your strategies and tactics to stay on track?

Learning from my past I saw the need to prioritize what I need over what I want, I am not moved by mere seeing things, well we all love new things, but I ask myself very well, do I need this thing urgently or not. I would rather keep the money for when pressing things arises like when travelling is necessary especially during December that is for festivities and had to travel to see my folks.

I make sure I save for my health too, as strong as we can be our health can betray us anytime, no one plans to be sick or down, but it happens sometimes and money is needed to treat ourselves, so I rather save ahead instead of buying luxury things.

It is good to treat ourselves to some cravings at times so far it is convenient, I could remember early this year that I saw a friend advertising her chin chin on whatsapp and I was interested so I ordered for it and got it at the rate of #2,000(Nigerian currency), this is not too much since it is not everytime I take it and it can even be once in this year 😁.

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Thanks for stopping by

All pictures are mine*

ladiesofhive contest financialgoals savings ocd hive-engine proofofbrain leofinance ctp waivio
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It is always good to prioritize things so we don’t go around spending money without even having to save any. Of course everyone like to get material things and that’s one of the things we always want to fight ourselves with, we all want material things and it is normal. We learn one way or the other on how to start saving and apply what we call scale of preference, the order in which we need things not wants. It helps a lot and saving is very essential in case of situations that comes without notice.

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Very true, we all want material things and getting things according to the scale of preference is very important, so we don't end up spending on unnecessary things while neglecting the more important ones.

Thank you for the wonderful comment ❤️

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It's good that you realize your mistake while you are young :) Sometimes, we tend to derive happiness from material things but the feeling fades eventually. Then we want more again. It's a never-ending loop unless we break it ourselves. So congratulations to you from learning your lessons well :)

!LADY

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Just like they say "human wants are insatiable", we keep craving but cannot have it all. I learnt it in a hard way to only focus on the important needs first.
Thanks so much for your comment

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"Look after the pennies the pounds take care of themselves", that is what my parents always taught us. Shopping for essentials one thing, luxury items really need to be put onto a list and wait until money is available.

!LUV
!LOLZ

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You are so lucky your parents taught you about saving, and waiting till one can have access to the luxury items.

Thanks for reading through my blog

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@elizabeth2323, You have received 1.0000 LOH for posting in Ladies of Hive. We believe that you should be rewarded for the time and effort spent in creating articles. The goal is to encourage token holders to accumulate and hodl LOH tokens over a long period of time.

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Distinguishing Wants from Needs can be a bit eye-opening when we look at things fairly otherwise we will run out of cash sooner before getting paid. With inflation significantly effecting our buying power, we may find ourselves Prioritizing a choice between similar needs, such times I would try and find additional income or reduce costs elsewhere. It's always wise to have an Emergency fund balance. When I exceed that monthly target balance I would treat family and myself. Reward yourself for a job done well @elizabeth2323
Thanks for sharing.

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So right we need to set aside needs from wants and keeping money for that emergency is very important. Treating ourself to something nice is cool as well. A time to enjoy.
Thanks for your comments

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