- Create 5-, 10-, 15- and 20-year plans. Having short and long term plans will help you be disciplined with your financial goals. Keep a small business card-sized card in your wallet that reminds you of these goals whenever you open your wallet to buy that expensive bottle of perfume everyone is buying.
- Your fellow twenty-something year old friends are not You. Don't buy all the coach bags, flat screen TVs, and Juicy Couture clothes that they buy. I hope this doesn't offend any of my friends who happen upon this blog.
- Anything that costs over $50 should go through a need or a want analysis. I still need to work on this.
- Don't let your money slip away on small items, such as spa manicure/pedicures. Instread, let your money build up for big things that will make a big impact on your life, such as an emergency fund or down payment for a home.
- Gifts for others don't need to be elaborate. Unless your friends and family really don't love you but just love your presents, which I doubt is the case.
I need to control my spending on gifts for my nephew. I'm so attached to him that I buy him toys or books almost every month or every other week. Most of the time, he doesn't even notice the new toys or books after the first hour of uber excitement. I realize now that I buy him stuff so that I can feel and benefit from that utterly pure moment of happiness that he shows when he first sees the toy. Pretty selfish. There are other ways to make him happy, such as taking him to his favorite playground or letting him play with water (what is up with that kid and water??!!!).
:).
other ways? hee hee
ReplyDeleteGood post. Thinking in 5, 10, 15 year increments has been key for me. I may try your reminder card trick - good idea.
ReplyDeleteThe gifts thing is really hard to stop. I struggle with that myself. But you are right - it is time you spend playing and talking to them that they remember and enjoy the most - not the toy.