Managing your money

The question is spend or save?  Maybe I should have said "don't spend your money unless it is necessary".  Certainly don't spend your money if you do not have it.  These days it is so easy to fritter your hard earned savings away without anything to show for it.  Here are a few ideas I have used to help giving more thought to the spend:

• When entering a shop ask yourself if you needed the specific item before entering the shop. 
• Am I making an impulse decision that I might regret.
• Was the item on your shopping list. 
• How often will you use this item.
• Is there something else at home that would suffice, or have a dual purpose.
• If you are unsure about the spend leave the decision to purchase for a few weeks.
• Ask yourself if there is a second hand item available at a considerably reduced price.

Chapter 5 is worth a read, and a good reminder to value your hard work.