These are the real issues that stop people from spending within their budget assuming they have one. As much as we want to blame it on the 1 percent of the population who control a large share of the wealth, we need to keep our own spending within our budget. We need to take responsibility for our own well being and work to achieve not only the things we need in life but also our wants.
Many people get in trouble when they overspend their budgets by charging whatever to their credit cards. When the bill comes due, they are unable to repay the balance and then are charged high-interest rates on the unpaid balance.
Buy what you need, not what you want, and only make purchases when you can afford to repay the balance and avoid paying interest. Needs are items that are basic to our well-being, food, clothing and shelter. Wants are things we can without including expensive food, clothing, and shelter. If the house you are living in is too expensive for your income, it is time to move to something less expensive. Buying the best steaks is nice and enjoyable, but sometimes you need to cut back and eat less expensive food. The same applies to expensive clothing. We all want to look great but sometimes you need to cut back and only purchase the clothing you really need. Can those shoes last a little longer etc?
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