DO you think taht "the more you earn the more you spend"?

This phrase very much sounds like cashback offer offered by merchants. Once, my bank have given me an offer that I will get cashback of 5% of whatever I purchase using their debit card. In that case, whatever I spend, I earn cash back of 5%.In that case, this may be true. In general, I will consider this as "the more you invest, the more you earn."

It somewhat true actually, because thinking that you have money means your are not worried of getting things co's you know you can pay for it. There are times too that I don't spend a lot but when I spend I really spent big amount on single things co's I know I can pay for it. Just recently I asked my friend who work abroad to buy hubby a nice wrist watch. I don't worry asking him that co's I know I can pay it.

Based on my experience & when I was still working with a private firm, I have observed that this statement, "the more you earn, the more you spend" is somehow appropriate. You see, when you gain or earn more, you tend to buy same things but more expensive than before. Maybe, when you were still earning less, you ate at a fast food chain; but now that your pay has increased, you get to eat at a more exclusive restaurant. Same goes for clothes and accessories, along with recreation. Stuff like that.

To a certain extent this is quite true as it takes money to make money and the more we earn the greater the expectation in our social and work circles that we should "fit in" and that usually requires spending. It is also true, though, that the more you earn the more potential you have to get bargains, and you can use a little money to leverage a lot. This is why we have the saying that the rich get richer and the poor get poorer.

I think I have same problem with you. The more I earn the more I spend. I think this happens to everybody. I really want to know other mylotters respond your discussion. Want to know if someone is different from us. It is a nice discussion. Thanks and best wishes,

It is true. When I was making good money 7 or 8 years ago, I was spending more. Because we become an obsessive when we have money. We buy things that we don't really need. It's more like we buy because we can afford it. Even rich people, they buy stuff they don't really need. Expensive houses or villas, cars etc. It's not because they need them but because of pride that they can afford to buy them. I would suggest you try save more and spend less.

Yes that is usually happen to those who earned big because they know that they have money to spend. So when they started to buy something its like they wont lose their money. As we say one day millionaire. This old sayings of our old folks really applicable to us. And you know i am too like this if i had lot of money. As i know i am in the stage of secured financially i feel never lose money so i buy what i saw without thinking if i need that things or not..

i think it is just a matter of budgetting andsticking to your budget. since you already have a lot of money because of the higher salary, your spending confidence will also come up since you are depending on that salary and that results to having a higher spending amount.

Yes, mostly this is true. You have more purchasing power because you earn more. Also, that makes you want more things and spend for it. You may not notice this but soon you will back to the state when you have less earning. And I for one is still in the dark how to counter this kind of fate. Happy mylotting!!!

Yes it's true. I fact the more you earn your wants and needs changes according to your financial status. For example I'm a middle man and if I want to eat outside, I would prefer Jolibee and Mc Donalds because that's the only thing that I can afford , but if you are rich and you want to eat outside do you think you will prefer Jolibee? I think rich people will prefer Aristocrat restaurant or Haagen Dasz because they are capable to afford those high end foods. That's all I can say.

what is that suppossed to mean if you got same place then how come you are spending more than you are earning doesnt really make any sense to me but anyhow one should try to refrain himself to spend money on useless things and make a chart or something that you want to save this much and draw a line till a amount and afterwhich you wont spend any money

That's kind of true if you think about it. When you the money, you'll tend to spend it freely without much restrictions because you have enough money. In my case, my family doesn't have much so we don't spend so freely, only in the necessary stuff. Most of my relatives and friends are rich and they always spend their money on expensive brands. I do have an uncle who has a family who are actually financially struggling but he always spends on his money on holidays and cars! His wife is really worried about their finance but it doesn't stop him from spending. There's people who also gamble until their wallets are empty. So I guess it isn't always true.

Yep,very reasonable,but of course,there will be somebody who's different.

Personally I would certainly spend more as I earn more. Isn't that exactly what you're earning for? To be able to spend more? Well, that may just be my philosophy, but yeah I think that's just how it works. You're keen to earn more in order to be able to spend more ( buy more expensive stuff ). Atleast that's how it works for me.

If you make a plan then you are most likely not to over spend just because you have earned more. You would want to stay within your budget.

It doesn't make sense but it is true. The more people earn the more they WANT to spend, and they do. There are few people who live at or below their means and when a financial emergency comes up they fall into debt, sometimes for life. It takes discipline and a view of the future to disprove that old saying. As we earn more we need to have a substantial emergency fund as our goal and after that look to the future and plan to be independent by saving money. There's nothing wrong with getting a few luxuries as we earn more but most people don't stop there. I've learned my lesson the hard way. I live below my means now and thank God I do because I've had some situations lately that would have ruined me had I not had a savings account.

For the most part I do tend to think that this is the case. I know that it is in our family. When we have more money we will tend to purchase more luxury items than we would ordinarily purchase. That is the reason that I really believe that our family does live from paycheck to paycheck. Of course, right now we also have the added burden of going through a debt management program so we are living on significantly less monthly than what we are making. I guess I will really be able to make a much better assessment when we get done with that in just a few months.

Well, when there is the availability and abundance of money, there is a tendency to and urge to spend it. Also, the higher your pay, the lesser you value your money since it is quite high and in abundance. Those who don't have the money or who has low wages tend to appreciate the value of their money, while those with high incomes tend to devalue their money and spend it freely. Just my thoughts regarding this.

ya you will guarenteely spend more if you earn more,best example is that if you work as daily wage employee then ur finances will not make u to spend more,may be the reason you spend less and if you work as xyz which pays you about more and more then ur expences will grow,when u work as daily worker then u dont expect anything except food and minimum needs but if u work as xyz then you will think of society,want to be more luxorius and you spend like that. Another small example is if u are a daily waged labour and want to get a coffee then you will go to a small hotel,if u are that xyz employeed then you will go to a coffee day or so and ur expenses become more.

You should have a written account of everything you spend on so that you know where your monery is going. When you earn more you tend to be lax about spending and so you don't mind spending an extra dollar or two. I suggest you write down your spending habits for week or two if your really concerned about your spending habits and if you value financial intelligence.