which is better to earn more or to spend less

Well based on human nature, I will say that it is better to spend less because the amount you accumulated will become bigger in the long term. For me I love to spend less and invest my money with high interest rates. My lecturer said that from his work experience dealing with people's personal finance. He said that it does not matter how much you earn you will own $1M one day if you do regular savings. He helped with people who earns quite a big salary and finds out that they don't have much money left for retirement because they kept on spending whenever they have the money. Whereas, the people who earns below average have a lot of money left for when they retire.

For me we really have to save more and at the same time earn more too. It's nonsense to earn more if you are not going to save it for the future. Spending less is an option you will make if you can not make your money double. But spending less on your necessity is really not an option. You just have to learn how you can double up your money or earn extra income with your salary that you are have. There are many ways that you can earn more.

Hi kushank, I think we should tab our expenses. I want to share my experience, When i was earning 5000, i was able to run the whole family and was not able to save. I changed the job and i got a job of 10000(double) When i got the salary, i felt i will able to save now. but then few month latter it was tha same condition. when i checked the expenses- they were increased . that why i feel we should keep track of our expenses.

oh yeah it is true . it should be a dual strategy. one should always try to increase ones income as far as possible in the legitimate way and i never say that necessary expenses should be avoided but the avoidable expenses should be avoided rather when you have to spend it intelligently and buy the value for money.

hi dear it is so true we r the spendthrifts kind bcoz we r very outgoing and enjoy partying a lot...of late we do discuss tht we can actually plan our finances and see how ppl spend so wisely..i think it is always good to balance it out we need to find a right ratio between the two..we both have a good income we have all r major investment like property car insurance polices going right but we still have quiet some amount with us..but we find it tough to curtail our xpenses and if we do curtail ourselves we r not happy it has become our lifestyle..

I'm a big advocate of spending less. If you never implement this practice into your money management, it won't matter how much "more" money you earn as it will all just get spent leaving you in the same position. In the recent months that we've decided to really downsize and cut back our spending, we were amazed to realize just how much extras we spent money on that was nonsense

You might go and check out www.daveramsey.com and look around the site. He has some great tips for budgeting and saving.

I am a strong supporter of earning more and against spending less! Saving/stingy on spending does not get you rich, only earning more grants you a fortune. This is what I believe.