As tempting as it may be for us as consumers to splurge on items we have little need for, we must do our best to exercise self-control.
How many times have you spent well over $100 on a steak dinner at a fancy restaurant like Morton's and later wished you had just gone to Outback?
How many times have you purchased an expensive shirt solely on the basis of the brand and later wished you had gotten something more affordable at Old Navy?
I'm guilty of this myself. Now, I'm not saying we should never treat ourselves to something a little more expensive. It's when you find yourself doing this often -- and dipping more and more into your savings -- that it becomes a problem.
You should always make sure that your reserve is ample enough to cover bills and leave you with money for a rainy day. If savings begin to run low, necessitating the need to reach for your credit card, it should prompt you to put the brakes and reevaluate your spending habits.
Let's not forget that it was overindulging and living beyond our means that brought on the Great Recession of 2008.
Aim to be a savvy consumer and take advantage of coupons, sales, discounts, and other ways to keep your wallet fuller. Alternate trips to the restaurant with eating at home -- another effective way to bring down costs. If you can ride to the park in your bike rather than driving your car, you'll save on gas.
As you can see, we can all take small steps that will save us a lot of money in the long run.
How many times have you spent well over $100 on a steak dinner at a fancy restaurant like Morton's and later wished you had just gone to Outback?
How many times have you purchased an expensive shirt solely on the basis of the brand and later wished you had gotten something more affordable at Old Navy?
I'm guilty of this myself. Now, I'm not saying we should never treat ourselves to something a little more expensive. It's when you find yourself doing this often -- and dipping more and more into your savings -- that it becomes a problem.
You should always make sure that your reserve is ample enough to cover bills and leave you with money for a rainy day. If savings begin to run low, necessitating the need to reach for your credit card, it should prompt you to put the brakes and reevaluate your spending habits.
Let's not forget that it was overindulging and living beyond our means that brought on the Great Recession of 2008.
Aim to be a savvy consumer and take advantage of coupons, sales, discounts, and other ways to keep your wallet fuller. Alternate trips to the restaurant with eating at home -- another effective way to bring down costs. If you can ride to the park in your bike rather than driving your car, you'll save on gas.
As you can see, we can all take small steps that will save us a lot of money in the long run.
Comments