Consumer's Sustainability

Consumer Theory the Sustainability.

1.0 What is financial literacy?

Most people have had financial difficulties for a time regarding their finances. To get out of them, it has been realized that new and better ways are necessary to make ends meet over one month or month. It can be a challenging and complicated project. Every bit of energy is needed for the job of concern. The first reaction is to delay the fact defaults are adding up and the debts increase. It is a kind of circle of postponements. Anxiety and depression occur when people realize their financial status is getting worse.

They reach out to relatives for help but must be familiar with the subject and know how to manage the case. Otherwise, the issue will get bigger and bigger and be more difficult to solve later. Therefore, it is most important to seek special knowledge or financial advisors. Admit that the issue is becoming serious and that solutions must be found. People can solve this issue, but most do not know how to do it. The best suggestion is to get an education from a financial education institution. Where they can seek education in this subject to avoid further financial difficulties, the basic thing is to educate people in finance, and the economy will benefit, and it is a win-win for the community.

The issue is realizing that people do not face financial difficulties just like that. Most of them can go there because of disasters, pandemics, sickness, unemployment, and other reasons that can make them broke for a while or bankrupt. People need to restart with new methods, learn, and be educated in finance as the primary components of recovery from financial difficulties. After admitting they lack new strategies to manage the finances of their households. Usually, the best thing to do is restart, align, and adjust them because the old methods have not worked. People learn from former difficulties and learn new techniques, which leads them to study sustainable finance, and their financial life will undoubtedly be much better. Sustainable finance is a part of the Consumer theory, which will be explained further.

Financial worries because of financial difficulties can lead to various instances like anxiety, sleeplessness, lack of concentration, depression, suicide, and other social affairs. All these are just because the seriousness of the issue is high, and hopelessness is excellent. The education of people about these components can decrease them. 

This circle in finance, the increase in debts and defaults, can be avoided using sustainable finance and financial advisors. They practice their finance and have more oversight over them, and they do it daily using budgets or financial plans. They can be for one month, six months, or one year. Update them regularly and, for example, go to SussEdu.com, where it is possible to get web lessons and templates to study these issues. These web lessons can lead to being particularly good in finance and gaining profit from the household operation in the base business. All these activities lead to a better financial status.

Using budgets gives us a better overview of the finances and supports efforts to increase sustainability and create a better world in which to live. They provide information regarding the buying behavior, which will be looked at later regarding the expenses. The expenses can be lowered without damaging the living standard. The general rule shall be a little bit better in the next period than the previous one. It brings better results for well-being than before to do. It encourages the one to do better the next time doing its budget.

It is good to aim at certain goals in the budget like lower the cost of food or other expenses. The goals must be reasonable not a dream in any sense of the word. Then, the budget goes out of hand, leading to severe problems that take a long time to correct and receive the previous pathway. The best approach is to prioritize the payments because of the debts. Bills must wait a bit, and you negotiate regarding them. That is the only way to do it when falling into financial difficulties. This approach is one of the best to fix the debt issue. Then it is essential to deal with the debt with lenders.

Then the budget is necessary to fix the issue. It is exceptionally good to arrange for distributing payments that are in default and keep track of the financial status. By doing this, the time for dealing will be more flexible, and the debtor turns the economic difficulties in his favor. And the debtor will be in control of what to pay and when. The lender must in most cases admit his payment method unless he can use law enforcement to collect his debt. That issue is the most controversial matter in this whole picture for the debtor.

Never forget to be prepared and talk to the lender in advance. By doing that, you are in a better position to negotiate your debts. Then you lessen that the lender has the control he has unless and instead of the control of payments status in the debtor´s territory.

Opportunity cost, Frugality, and Sustainable finance combine to tackle better daily expenditures in the short or long term or in the Consumer Theory. 

2.0 What does the Opportunity cost stand for you?

It is the value of something that is needed to skip value plus to be able to achieve other values. It is short but not understandable enough at first sight. Simplify these sentences with a sample of a beer bottle made from glass and a stick on it. It has a painted iron tap with the brand name. It costs 400 in the shop. It is shopped each day which makes it 12.000 over the month. These are the values that are offered to the customer. Going without the beer bottle is possible, and the whole amount spent will be saved. It is necessary to realize the difference between buying and saving. Where it is possible to change values and qualities into other values and qualities. Then, one implements a particular job and plans to connect to the opportunity cost. In short, the savings of 12.000 is the opportunity cost for the figure, plus drinking the beer bottle. 

Is there a certain action included in not buying the soft drink or saving the value? A certain action must be made to quit that. Then there will be a change in buying behaviour and the choice will be not to buy or buy. Two options to choose from. Both make it to consider the opportunity cost. 

The opportunity cost concept is not a complicated issue. Every day there is shopping for goods and services on assorted items. When there is a deposit, it is named a debit transaction, or it is a deposit into the bank account. When withdrawing then it is a credit transaction. It means the capital in the bank account decreases. The actions are debit and credit transactions or deposits or withdrawals of the bank account. When buying goods and services there is a withdrawal from it. For example, to buy one soft drink. The usual way to buy is to use a credit card or phone for business activities. 

This way of buying can create certain uncertainty when it is not taken safe care of the transactions when using them and the balance is checked frequently. That can create unnecessary overdrafts or a lack of money when needed to purchase. It is the same with the opportunity cost it is always going up and down. The thought alike is in connection with the buying behavior regarding the beer bottle. What can be done instead because of this buying? Is it possible to get it cheaper in other places? Can you get bonus or more discount offered? 

Most people have communication costs with smartphones and the Internet. Talk to the communication companies regularly and find the current price because they fluctuate. People save by following them regarding the prices and promotions they offer. The opportunity cost is a collection of what you do or do not do and what you are spending. 

The financial status can sometimes be difficult and being short of money temporarily can happen, but transportation must be fulfilled. There are options available in the situation. It is possible to travel on foot, on a bicycle, on a bus, on a motorcycle, or by car. Most people choose hiking or traveling on a healthy bicycle and pick a bus in between. It is also possible to buy a cheap car, but the activity is an investment or x money. The purchase of the car then includes registration for one year and the expectation it will last that year or until it is faulty and is finished. The purchase of the car is x USD, and the buying contract can be years. Then, the installments and interest will be USD plus the maintenance cost. When that cost goes out of hand, you sell it for a bottom price or throw it away. In most cases, it does not pay off to repair it. When something large happens. This figure is much less than paying for a new car. However, the opportunity cost can be high when driving around maintenance and gas emissions, which are consistently higher in older cars because of technological improvements. Climate Change will suffer from driving such an old car. However, being poor and unable to afford a more efficient vehicle can be expensive.

It is convenient to keep a car, but it can be expensive, and other transportation possibilities are better, as mentioned before. Opportunity cost is a core of the economy. Explain this better. The examples already mentioned are short examples of a part of the opportunity cost, as has been explained. What is not done is the opposite of what is done.

The opportunity cost must be included in all business transactions, both what is done and what is not. The main thing is that it is not expected to be included as a figure in the economy. It is an imaged figure and cannot be put on the Balance sheet. It is an action, a choice, and a decision that is on the table, but not physically with a business deal or purchase of goods and services. It exits although it never appears in a purchase as a fixed figure, and it does not appear until the purchase has been finished in the finance of the actor.

Then, the opportunity cost will appear in a better economy in the balance sheet of those concerned. That is the way to be better off or attain richness. Then it is possible to measure it in the bank account or the cash available. When the opportunity cost term is used then the economy will increase in better wealth and well-being. In most cases can improvement be seen in the economy of the one in concern that uses these methods, and the reality of this action will be true. The opportunity cost is imagination, but we can measure the physical part of it and the fruit it gives. Both financially and spiritually. By using this term, the health, well-being, and financial status will improve and increase. By using the term then sustainable finance will increase.

3.0 What is Frugality?

It is to consider the useful value of capital and things. Capital works for itself, and things are used with care and frugality. The present situation is withheld, and one will not change it when frugality is in danger. The risk factors of capital and the value of things are investigated to the utmost. The general line is to keep things improving but not at the cost of a heavy risk. Except when the circumstances are like something will be better with the use of capital and things. 

The opportunity cost and frugality intervene but are two different things in the action. Both terms are imagination but come both strong when buying goods and services. They influence the buying behavior and final purchase. Understanding the difference between choice, action, and decision is necessary. To be frugal gives an idea of the lifestyle. It is usually simple and tidy. It does not need to be that it shows poverty or a lack of funds to live a better life. The opposite is the frugality concept is guidance when purchasing goods and services. In most cases, one thing is enough to fulfill them. Try to be frugal and use one thing instead of a few for the same purpose.

The lifestyle proves the simplicity of the physical world and can, in most cases, fulfill to be happy in life. For example, a small condominium is enough instead of a big one. The level of frugality mirrors and simplifies your status and economy. It shows the usefulness of things and not staying with an abundance of them. People are sometimes confused when comparing frugality and poverty where the lifestyle is simple and plain. The simple truth is that people live better in this phase to include frugality into their lives. Living a good and enriching life using the concept of frugality is very well possible. There are three pillars’ people need. Their basic are housing, food, and clothing. It may state that a long time cannot live without them. When there is a shortage of these items, poverty is a statement that people live in a severe shortage. It may not permit us to confuse these as the same thing. Poverty is poverty. Society must change these issues. To escape poverty or a tight economy it is possible to use the frugality concept instead. The frugality concept is used both for the poor and the wealthy. The wealthy are rich in the monetary sense because of that. It is also that everybody will be rich also in the sense of their spiritual and mental life. The concept of frugality makes reaching a higher life in every sense of these words possible. 

The self-sufficient life the Icelandic people lived years before, using the Icelandic lamb for every inch of it, differs from Sustainability as we think of it today.

There are similar words for frugality, like to save. It is usually thought of as depositing money into a bank account. But it is also possible to save on food, clothes, housing, water usage, electricity, etc., which we call efficient savings. To be practical is also a suitable qualification. Not buying and depositing the beer bottle into a bank account is a good sample of efficiency savings. To have foresight in monetary issues and frugality is a thing people can repeat. To see things ahead as foresight and be then able to plan before the budget goes out of hand gives better well-being. It is also the same as depositing money for a beer bottle; things can be done to arrange things for the future when you see what can happen, try to avoid things that can happen, and look outside the window. Be wise regarding the future, what can happen, and the opportunities. To be frugal but not neat is an ability that people can be proud of and manage their property of care and frugality. And behave accordingly when purchasing goods and services. 

To be temperate is to avoid all crazy demands. The words temperate and frugality are siblings. They work together to control the temperature and not be tidy in all consumption according to yourself or others. It can be easy to go to an extreme about frugality and not end up as a tidy person. To be temperate is a good qualification for everyone. 

To take a view of self-discipline in connection with being temperate and frugal. To do that can be said to be the most difficult of all. Self-discipline is the most challenging task to refuse the beer bottle and save instead. Thirst and heat appear in your body. The plan is not to buy it; a delay will be the choice. Solving the craving and heat can be the opposite with the savings for one moment. Self-discipline is necessary, and not buying the beer bottle is the same regarding all purchases of goods and services. It is sometimes required and essential to use self-discipline with the action, choice, and decision to purchase goods and services.

4.0 What are Sustainability sustainable development and sustainable finance?

Sustainability and sustainable development combine three pillars: The environment, the economy, and social affairs. They are in total harmony with each other. To simplify the matter, each will be checked individually, and the beer bottle will be used to explain each item. The beer bottle is an equalizer for all goods and services used daily. It will explain how it will affect the economic system, the environmental system, and the influence of social affairs. It provides a good sample of most issues people face when purchasing goods and services. Looking at the beer bottle from a new point of view gives a new idea to keep with the action, the choice, and the purchase decision.  

How can one beer bottle influence Sustainability, sustainable development, and sustainable finance? When social affairs are considered in the case. The social meetings come along when drinking the beer bottle. People sit down and discuss critical issues in daily life. It creates a social structure by drinking it with others. The beer bottle symbolizes what is produced by sitting down in the company of others. Most goods and services connect to communication, and money is spent to fulfill a social need—the purchase of TV and radios for fun and education. We were sitting watching TV and sharing time with others. For example, watching a soccer game on the TV is much more fun than sitting with others alone. By drinking beer bottles and watching TV, valuable time is wasted. It is possible to use the time for more valuable activities. The action, the choice, and the decision are in the hands of the people. Time is an asset that anybody can keep for himself. Health is an unbelievable asset anyone can carry. The time created can be used to design and develop other assets with changed behaviours. Modern society always creates entertainment and pleasure to spend time in instead of using the time for other opportunities.

Sustainable development, as discussed, can sometimes be difficult, as seen by these samples. However, it will be possible to implement it when people change their minds and look at the social side of the issue. Instead of the quiet time that comes from increased Sustainability, it is possible to use the free time for education, reading books, and other hobbies. 

The issue is the opportunity cost, and frugality is connected with Sustainability and sustainable finance. It is the time used to do nothing and to entertain, which is also sometimes necessary to break. Instead of reading and educating, for example, which is the opportunity. 

Goods and services must be produced and created for the economy to operate, and the product must be in full force, so all things go smoothly. The beer bottle must be made in a container or glass containing the content. The content is water, which includes minerals and salt. It is necessary to produce the tap made of iron, which creates work to exits, and decoration must be made. All these issues need energy. Energy is short and expensive to produce. By forgetting to buy beer bottles, people are saving these issues and can save money by depositing it into a bank account. 

Unimportant things add to the superb thing, significantly increasing the connection. The social part can be skipped, but the opportunity cost is energy-saving, as well as the deposit. Living without drinking a beer bottle is possible, but various goods and services are challenging. It is necessary to survive and needs specific energy to produce. Renewable energy can be increased, like windmills, solar energy, waterfalls, and nuclear energy, to meet the demand of the world to supply enough energy. By quitting drinking beer bottles, energy is saved, and CO2 emissions will be less or nothing for Climate Change. People will save not only for themselves but also for the world's atmosphere and contribute accordingly. They will share their contribution to the world and their children and grandchildren. The individuals are not alone in doing this; all they share is lessening the gas emissions into the atmosphere. Climate change and sustainability are the key issues in creating a better world for the future. The pillar of the environment is an issue and connects the other pillars directly and indirectly when talking about economic and social affairs. To simplify this conversation regarding the beer bottle, explain what is happening. To create it, energy is needed, and pollution is exhausted. The gasses that come with this production are CO2, methane, and other gasses that pollute the atmosphere. The primary battle because of Climate Change is to lessen the influence of the gasses, and the content is to use renewable energy to produce beer bottles. It is a perfect sample where energy is needed to make the glass and the iron, which need a hot temperature to melt them. Salt and other materials require energy to be produced. These all are environmental items that create gas and fixed materials, and the resources of the Earth are wasted. However, when fossil oil is used for production, the opportunity cost for the producer, like Arabia, can be costly to survive as a living society. The best solution is to use renewable energy like waterfalls, solar, and wind energy, and the emission-free nuclear energy was appropriate for each place and case.

Environment items like energy production must be in harmony with the tolerance and equality of the atmosphere. When the optimum is achieved in energy production, it is necessary to consider these items eventually, not for a brief time only.

Sustainable finance is thought of as one of Sustainability’s issues. It connects to sustainable development when thought of as Sustainability’s three pillars. They start when the purchase of the beer bottle begins. The merchant gets his money, and the capital in the bank account lessens accordingly, which is the economic activity. The social action is giving a chance to go to a shop and drink one bottle of beer with third person. The production of beer bottles has already finished the environmental activity. The transportation issue is also to be considered: are people walking or using a vehicle? Are people simply using the most efficient way of going to the shop? From using a big truck to an electric car or walking the way. 

Sustainable finance is critical in all purchasing and influences them both overall and in the short term. Constant buying of goods and services affects the economy and, at the same time, influences the environment. It is also for household activities and other social influences activated using sustainable finance. The influence can appear immediately in the economy and business. For example, skip buying the beer bottle and deposit the capital into a bank account. The direct influence on the economy and the power of sustainable finance starts to occur. When the choice is to buy the beer bottle, the ultimate thing happens, or its negative power starts by causing more waste of energy, etc. What needs to be considered with sustainable finance is that power bases have begun to influence finance. A new thought helps to think things new, both for the long and short term. There is no miracle, but the difference between the new and old thinking occurs by the first buying. The buying behavior changes, and the buying speed decreases because the goods and services are carefully checked before the final purchase. The choice starts to turn around sustainable finance in the world and the region where the product is produced. When a shirt is bought and made in Bangladesh, in deplorable conditions, the workers get little salary for their work. According to Sustainability, this is not flattering for the workers. The worker has no other opportunity than to do this work. The other chance is to go to the rubbish of the slum and use that work for a living. Both jobs have pollution effects on their health. Here is the opportunity cost in full force in their life. They get less salary on the rubbish than working in the factories producing shirts for the world. The worker has no other alternative than to work at the factory. They live in colossal poverty, and the one who works in the rubbish field is living in severe poverty. The world must look at these circumstances and the worker's sacrifice and lift him out of this severe poverty. To clean the poverty out of the Earth for the last time. By educating, training, and teaching about better health. It is possible to complete this job and create a miracle for these workers and other places on Earth by using www.SussEdu.com  to distribute the word for a better world.

Sustainability is helpful by escaping the rubbish work for the worker. It is a pit in which the worker is stuck, educating and teaching him about Sustainability. The worker will get a better health clinic and improve his health because he works in another field. The worker goes to a second level and feeds more, and death instances will lessen, and hunger will be taken away.

Reykjavik, 11th October 2024

Hrafnkell Tryggvason 

Founder & CEO

Suss Global HQ ehf