Perhaps the most practicalized economic theory in the World is opportunity cost, the cost of forgoing something in order to have something else, because, well - we can't have everything. I make this decision almost on a daily basis with my plans and certainly with my purchases. The term 'spoiled for choice' has as of today, never been associated with me and I am working hard to ensure that happens someday.
If you've had financial issues where things just aren't adding up on routine, everyday living then you've likely come across the revenue crisis like I have. I mean it is one thing to go through an incident that forces certain financial sacrifices, but to experience insufficiency from everyday plans and activities will make us realize the real truth behind the numbers - A revenue problem and not a spending one.
Even if we decide to adopt a minimalist lifestyle, there are certain expenses that simply couldn't be avoided. I often hear the term 'fund my lifestyle' bandied across by some who have managed to come across a bit of fortune. We may not require a high profile lifestyle, but we are required to meet certain financial obligations irrespective of where you are and where you live in the World.
Most of the people who experience financial strains are not doing harmful things to jeopardize their financial futures. Some of us may have incurred debt from college that puts us at a severe disadvantage, or piling debts from unpaid bills that simply cannot be met with our current revenue streams. I have a special regard for those who choose to settle down and have a family, as many necessary financial sacrifices are made for their spouses or kids.
Perhaps the nature of the World is structured so we'd always have to tighten our belts a little bit so we can make better decisions for ourselves. Those who certainly seem to have it all in terms of their needs met don't necessarily live richer or more fulfilling lives than those who don't. Yet financial constraints cause a big strain on our minds and could potentially destabilize us. Certainly in the hierarchy of needs those whose sole focus are on the basics will be unable to fully appreciate all the things money can do for them.
The tighter our financial belts are, the more difficult it is to breathe. Being broke backs us in a corner that not many get out from. I last borrowed money a few years ago and that was a low point for me, it definitely made me realize that my income streams needed to be expanded and I could do better. Increasing revenue streams means focusing on making money/investing a little bit (even if that's not your thing) and also working out multiple revenue streams.
Am already better off financially than I was some three years ago. Crypto played a role in that too, and by that I mean majorly fueled by the Hive chain and minor interest in a few other projects. There's no virtue in suffering more than necessary if we can take steps to change our fortunes though.
