Spending your money lavishly -it's dangers

[Axis]

every time and then people spend money but it's either they spend the money lavishly or they spend it wisely. but what are the dangers in spending your money lavishly or in other words purchasing or necessary things that you might not need at that particular time or even in the future.
when someone have a lot of cars but still spending money in purchasing more cars this can be termed as spending money lavishly, or acquiring expensive clothes or clothes that are newly made in town this can also be termed as spending money.
and this have its dangers. we won't spend money lavishly he is not planning for the future to come. Nothing last forever and so one should plan concerning the future. And how can he do this?
investing and saving up your money is one of the important step one can choose to avoid spending money lavishly. when you invest your money this can bring in more money to you and also making it a practice to save up your money is also an important step. mind you I am not emphasize in on spending money generally but spending the money lavishly is where the danger comes in. there will be a time you will be in need of money and if you haven't set up anything or invest you will find it a challenge for you to take care of yourself both physically and materially.

 

[Augusta]

People that makes their money the hard way knows not to spend their money lavishing all the time. This is because you would always be broke with this method of spending. It is good to spend enough on your needs that's if you have some extra cash to spare but not all the time

The truth is that we all like the good things of life so we sometimes want to appreciate our efforts and energy expended on work. This isn't bad but it is when we over indulge and splurge money on irrelevant things

Let some people I know just live golden things so they go to any length to get things made of gold. You need to see their drawers for storage of their jewelry you would be shocked that they are just accessories to be used not goods for resale. And they will be looking for where to borrow money.

 

[Carpon]

One of the major dangers and consequences of spending money recklessly is getting broke which will eventually put one in so many financial crises. When you spend recklessly, no matter how much your resources are, they will easily get used up and soon you will become broke and begin to get into financial ditches because you want to contain and continue with you habit.

It also makes you and render you unable to make strategic plans that are financially aligned such as budgets and saving. When you make budgets and you exhinti this habit, you will realize that your budget won't be effective because you will hardly abide by it.

The same applies to saving. You can never save when you do such things. Saving requires that you are financially disciplined and this habit or character is a sign of financial indiscipline which makes it hard for you to engage in things such as saving.