I watched an interesting show on TV about a new rising star in the comedy show and overall showbiz industry. She comes from a town and a moderate family to a new world of showbiz where money and fame could blind instantly people.
Although she could help herself to stay away from any bad effect one cen get on the industry, like drugs and stuff like that, which can put her life in line we with the law enforcement, but she could not cointain herself from spending spree. The good thing is that she is not in debt currently, but she spend all of her hard earned money that she kept in one bank account.
I am not here to tell anybody what they can do with their money, but at least I could learn from her mistake in the spending habit. She kept her income in one bank account, so she thought that she still had the money, and spent on everything that she wanted. It was before long until she realized that all of her money had gone, and she needed to stop the spending habit.
We need to learn that money management is needed, no matter the amount of income you have. The more you get, the more you need to manage it properly, otherwise all the money will feel like it evaporates like the cheap fragrance, and you can only smell it for a short period of time.
Maybe separating the money into several accounts is needed, so that we can have the stop on the spending, once the money that we have on the specific bank account for spending is dried up. But we still have the other account for different purposes, like life needs, future savings and so on and so forth.
Financially literate is also needed, if we want our hard-earned money to stay in our account a little longer.