Wednesday 13 February 2019

What is good spending habit?

What is good spending habit?

Think about it when you buy something, "is this thing necessary for me, or do I want it?"

"Necessary" means the necessities of life. "I want" means satisfying the desire to shop for a while.

Sometimes when a person notices a product discount, he or she will buy it. After that, the product may only be used 1 or 2 times a year. After some time, the owner may not like it and throw it to garbage can. A person may also buy a big house just because a friend buy a big one. Those are not good spending habits.

A good spending habit is to buy something that can generate more value while meeting the needs of life.

In addition, prior to buying something, think about another question "can I buy it in a lower price?".

The book  The Millionaire Next Door: The Surprising Secrets of America's Wealthy will tell you  more about good spending habits and how to create wealth.


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