[Yugocean]

If you're having trouble budgeting, cut luxuries out of your budget. This does not mean reducing quality, but there are many such requirements kept in the budget whose expenses are not necessary at all.

For example, colour TV was considered a luxury in the old days when people had black and white TV. People used to buy colour television by adding money bit by bit, but it was a luxury item that served no other purpose than to make the programmes on TV look colorful.

Eliminating spending on luxuries is a good step toward improving your financial situation, as long as it fulfils your needs.
For example, if you want to buy the best car for your family's use, it is not necessary to have a car like a Bentley, BMW, or Mercedes-Benz. Leave it for the super rich; buy yourself a simple, essential car that fits your budget.

[darkuszerx]

Well, before I buy something luxury that is relatively expensive, I will always think about the best alternative. I guess an item will always have an alternative, and it would be better to spend less as you will get the same function.

[parneyhood]

Some people use luxury items just for flexing purposes, and I don't know why they spend so much money on luxury items when they can find cheaper alternatives.

[augusta]

This is like living above your means you would spend a lot on it. So it is good to spend little on valuable things.

[Treborika]

For me I never include any luxury items on my budget. I only prioritize on the basic and the must used daily items in my household.

[Starry]

I buy luxury items once in a while. I bought some golden jewellery and a Rolex watch. I treat them as an investment.

[augusta]

Maybe unless these things are bought as investment items in the future then it might not work it.

[Treborika]

I bet luxury items are more expensive to buy in my country. It's therefore a good idea if you can eliminate it from your budget to save money.

[arunima]

Well, what could be luxury for one might be a regular thing fot other. So, it is more important to know your financial capacity and obligations. And then make a budget based on that. That's the most sensible thing to do

[augusta]

Yes it is up to people to look at what is luxury to them and cut it off to save money

[Vehlijanta]

Luxuries are for rich and rich doesn't care about savings. We need to save so we need to cut everything that we are unnecessarily spending on luxuries.

[Kenti]

Luxuries are not basic things needed for survival. Just do luxury once in a while if you can't afford it.

[Presh]

Luxuries are for rich and rich doesn't care about savings. We need to save so we need to cut everything that we are unnecessarily spending on luxuries.

The rich save actually but they are able to afford savings and luxury at the same time. If you are not sure you are very rich, avoid luxury.

[Akuba]

It is very important to exempt luxury from your lifestyle because the economy of most country is not on the right path due to high inflation.

[augusta]

Every money minded person should do this but save money for time to time indulging if possible it will help.

[Pistis]

It depends on what you define as luxury though. Some people think eating meat in food is luxury which is a wrong mindset.

[kennysplash]

There is a rule for it, if you don't need it then you should not buy it. This saves you a lot of money.

[augusta]

it is not bad to live in luxuries if you can afford it but reduce the unnecessary ones to save money

[astutimeliana723]

I avoid luxuries because I do not like them, even if I am destined to be rich I will still lead a frugal and simple lifestyle

[Akuba]

Doing away with luxurious spending is definitely one of the best ways you can cut expensive