Spending is easy. But being smart about it takes discipline. Whenever you pay for something with money or even if you donate it, you are spending money. Smart spenders are careful with their money and make wise decisions. They can make their money go farther, and who wouldn’t want to do that? Tracking what you spend your money on will help you make decisions on how to spend your money wisely.
Before spending your money, ask yourself a few questions.
- Do I need this?
- Why do I want it?
- Will I use it? Wear it?
- Will I have enough money left over to buy the things I need for the rest of the month?
- Will this make me short on paying bills/debts?
- Is it safe to wait and buy it?
- Could this go on sale soon?
- Can I find this somewhere else cheaper?
- Does this come without a brand name?
If you answer these questions HONESTLY, you may decide to leave it there and keep your money. If you keep spending your money on things you don’t need, it will be gone before you know it. And dipping into your savings is not an option!