Is monetary rat racing inescapable? It is a million-dollar question that everyone is familiar with, yet wants to show their unfamiliarity.
The world often discusses two categories: rich and poor. However, the flow of the economy survives with middle-class people. And, surprisingly the actual economic rat racing story emerges from only two groups, the real needy and the middle class.
But the question is why the discussion about fierce competition for grabbing wealth has appeared as a burning issue since the evolution of human civilization? The answer is money and wealth matters much.
You must have heard a known philosophy from your elders that being poor by birth is not a mistake, but letting yourself die as poor is undeniably your fault. The crucial fact is every individual understands this reality, yet they embrace things that keep them needy.
The bitter spending habits and dull purchasing practices bind the majority of people with massive liabilities instead of helping them to be wealthy. This is also a big reason why these folks face the question, ‘Is monetary rat racing inescapable?’ and survive as poor generation after generation.
This article discusses this bitter yet unavoidable reality in some brief points.
Buying obsession using loans and credit cards:
Many people often become sick with the purchasing obsession. They spend before they earn.
Nowadays, several online sources and credit cards are ready to provide loans using the tagline ‘buy now, pay later.’ Naturally, people become obsessed with this lucrative offer.
The result is that they start purchasing stuff, and the story of fierce competition for grabbing wealth begins from here. In short, the question, ‘Is monetary rat racing inescapable?’ commences its journey.
Their addiction leads them to purchase even those things that are unnecessary. It becomes concerning when they use credit cards to buy even unaffordable stuff.
They don’t feel the necessity to pay attention to their spending limit. They only think of buying assets. But, in reality, they purchase liabilities that ultimately emerge as unbearable monetary burdens in the future.
Most importantly, these people can’t realize that credit cards are not money supply machines. These cards only provide loans or lend money that needs to be paid by the card users within a fixed time. Furthermore, the failure of timely payments leads to a financial crisis. In a word, addiction to buying forces them to land on a trap that defines why it is challenging to avoid rat racing.
Embracing callous attitude and unlock the question, ‘Is monetary rat racing inescapable?’:
A majority of middle-class people often buy things more than their basic needs. They purchase items in the name of enjoying life till the last drop of life. In a word, they aim to enjoy life at its peak at any cost, whether it relates to lifestyle, beauty, fashion, or hobby.
They spend money like using free water without saving something for the future. An undefinable craze of embracing a callous attitude always surrounds their thoughts.
Even they are less careful about creating a financial plan. Very few of them think about creating a budget to meet the present living and to address the retired life.
Most feel the comfort of walking with an unplanned monetary survival without caring about the notion that they buy liabilities while embracing unplanned spending. These individuals live like the survivors who search for their desired destinations without carrying a roadmap for their journey. It is like a directionless walk with no fixed financial aims in mind. For them, spending money, even meaninglessly, is the only way to enjoy life.
A don’t care attitude always guides them to proceed aimlessly with no proper savings plan. They invite a callous attitude every time and unlock the query, ‘Is monetary rat racing inescapable?’ It looks like they want to get trapped in an unending monetary captivity.
Final words
The above two-point discussion does not pinpoint that people should avoid enjoying life. The above words even don’t mean to live a life of a miser.
What the points mean is before thinking about spending, one should first think about earning. Also, it is the best practice to meet every expense with a clear monetary plan or according to a sound budget.
A budget includes planning regarding earnings, needs, expenditures, investing, saving, and desires. Here, desires define yearnings. Yes, yearnings that keep the human craving for survival always active.
Reasonable or logical yearnings can only meet the question – ‘Is monetary rat racing inescapable?’ It ensures that a balance between earnings and expenditures can relate to every desire to enjoy life at its best.
Notably, spending must be the third member of the economy family, whereas earning and saving must get the first and second positions consecutively. That means income and savings must come first, and then expenditure should arrive.
On the one hand, it helps to avoid emerging as a spendthrift. And on the other hand, it confirms preventing the role of a miser. In short, a planned, balanced, logical monetary approach validates worry-free financial liberty.
And economic independence boosts the scope for robust investment as planned expenditure makes room for solid savings.
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