People in Florida spend too much money. It’s my impression that most people here don’t make a difference between the artificial and natural reproduction of your everyday needs. They seem not to be aware that most of our needs are installed in us through marketing and other sorts of propaganda. Contrary to our natural need for pleasure, the artificial needs can go to such an extent that people can’t live without the new iPhone or the newest car or the biggest house anymore. Society is also imposing a great deal of pressure in this regard since only the ones who possess all the material stuff are considered successful, while everybody else is not.
I mean, look at who we praise, Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffet, and others alike. Not that these people haven’t managed to accomplish something extraordinary, but the wealth they possess is inappropriately higher than the wealth the rest of us share. Some of these guys have bigger accounts than a bunch of countries. And that is absurd any way you look at it.
Anyways, what I want to tell people, among other things, is not to spend money on stuff they don’t need. But how do you explain to somebody that he/she doesn’t need the newest device when their old device is doing an excellent job? People also lose a lot of money on utility costs.
I’ve met people who spend so much on utility costs that they go broke by the end of the month. They cool their home all the time, don’t shut down their pool pumps or turn off the lights, or reduce the water temperature in the big thanks and use inefficient water heaters instead of purchasing quality water heaters that’ll save them money. Running expensive appliances all the time or setting refrigerators on maximum freeze is what also increases utility costs. All of these examples can be adding minuses to your budget. And if you combine unnecessary shopping with spending a lot of money on utility costs, then you are on a good track to bankruptcy. Believe it or not, as a financial planner, this advice is one of the easiest and useful advice I can share.