Top-10 Tips on How to Spend Money Wisely

Draw you salary before spending it.
— Artemus Ward

What a lot of things there are a man can do without.
— Socrates
Knowing yourself and what drives you to spend your money - whether it's for cars, homes, fashions, or cool stuff — is essential for having total control of your finances. It can be the difference between having a million dollars for retirement and not having anything...



#1 of Top-10 Tips on How to Spend Money Wisely

Buy quality instead of luxury.

#2 of Top-10 Tips on How to Spend Money Wisely

If you are pressed for time to relax, don't be penny wise and dollar foolish. Spending two or three hours driving across town to save a few dollars is crazy. Your time is worth more than that.

#3 of Top-10 Tips on How to Spend Money Wisely

Don't make hasty decisions when making major purchases. Take at least a day or two to think it over.

#4 of Top-10 Tips on How to Spend Money Wisely

Try integrating your material needs with your spiritual needs. Purchase things that speak of your essence and not of your friends or the advertisers.

#5 of Top-10 Tips on How to Spend Money Wisely

On September 24 of every year (November 28 in Canada) try to go through the day without making any purchases. This day has been declared Buy Nothing Day by the voluntary simplicity movement. Take whatever money you would normally have spent on any other day and put it in your retirement fund so you can retire earlier.

#6 of Top-10 Tips on How to Spend Money Wisely

Don't hang around with the Joneses and you won't have to keep up with them. Since we tend to adopt the values and beliefs of the people around us, hang around people who are more in-tune with voluntary simplicity, have a good work/life balance, and are making the world a better place to live.

#7 of Top-10 Tips on How to Spend Money Wisely

Pay attention to what the Buddhists advise: "Want what you have and you will always get what you want."

#8 of Top-10 Tips on How to Spend Money Wisely

Avoid any Martha Stewart books, magazines, or TV programs like the plague. Go even further. Give up all the Martha Stewart values you have and watch your quality of life go up.

#9 of Top-10 Tips on How to Spend Money Wisely

Pay attention to what you do with your money on a daily basis. Are you getting your money's worth. If you aren't, change your spending habits.

#10 of Top-10 Tips on How to Spend Money Wisely

Don't forget your own ingenuity in saving and spending your money wisely. Make a list or idea tree of the many things you can do to handle money so you don't have to work as hard to get money.