Economics is studied because there are not enough resources to go round.
After we have defined what we mean by resources and what quantities are sufficient we always have to prioritize to determine what comes first, what comes next, what comes last and what could be easily forgone. We certainly already practice this in our workplaces.
In our personal lives as well, we need to prioritise. In fact all the lessons we use to make sure that all the valuable principles that keep our workplaces running efficiently must be applied to our everyday lives.
What comes first? School fees? House rent? Vehicle purchase? Good shoes and dresses? Or the presentable state-of-the-art mobile phone?
Without judging anyone, our priorities will differ based on our occupations and preoccupations. I watched a movie with a friend one day and in a scene, I commented on the hi-tech piano keyboard. He commented on the indoor plants. We saw different things based on our preoccupations.
To prevent being carried away financially on the spur of the moment, predefine your priorities.
Image by amyfriesemke from Pixabay