RE: Classes Of Wealth & Poverty; What Drives The Reasons Behind Spending Money?
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The spending habit of people in Nigeria and in many other parts of the world is currently inadequate because someone that have been surviving on $50 will always think of increasing his expenses immediately he starts receiving $100 and in most cases the person would not think of increasing his savings.
The major issue here is that many people that run into the market to buy trendy things end up dumping those things after using it for a very short period of time and such actions also affects the overall price level and the people that bears the brunt are those that collect minimum wage.
It would be nice if we would encourage savings culture because that would be a nice starting point towards reviving our already suffering economy
It's a thing of the mindset people see today and never see tomorrow, savings is the most important thing in the life of a man, either through assets or through crypto or otherwise. Its one of the reasons why our economy may might remain like that for a long period of time. I think its important we all learn to be prudent and think more about the future. Thanks for the input, im grateful.
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