One key to wealth is to retain some of your income. That means that if you earn 20,000 a month, make sure that by all means, you never spend all 20,000 in any month.
But with rising inflation, with boredom, and with the development of sleeker toys, the temptation to spend and splurge is on the rise too. How do you control spending?
1. Don’t go shopping without a budget
2. When you find an item like a car you cannot live without, do not buy it immediately. Always go back home to brood over the thought before you buy it.
3. For gagdets and cars, improve your maintenance culture and seek to repair before your replace.
4. When you have to go window shopping, leave your cards at home.
5. Spend more time researching/shopping for money-making assets than you spend on groceries and compulsive shopping.
Image by Steve Buissinne from Pixabay