Squelch the Spending Sprees

By: Mollie Manuell

Does money burn a hole in your pocket? Do you just have to spend your whole paycheck?

Just because you have the money doesn't mean you have to spend it. There's nothing on earth that says you have to spend all the money you make. And actually, you're much smarter not to. That is if you want to get ahead, if you want to be wealthy, if you want to be filthy stinking rich. If you want to be a multi-millionaire.

The road to millionairism isn't always easy. Especially if you're used to just buying whatever you want, whenever you want, living from paycheck to paycheck.

So lean back, pull in a deep breath, and take a look at your spending habits. Does going on a spending spree make you happy? For how long? How many things do you buy that you end up never using? That shirt in the back of the closet with the tags still on it. Those 3 pairs of shoes that were on sale that you've never worn yet. The boat hasn't seen water for a year and a half.

Think about your spending sprees. If you hadn't spent all that money on things you didn't really want, how much would you have saved? Probably a lot.

If your company has a program where it automatically takes money out of your paycheck and puts it into some sort of savings program, take advantage of it. Money you don't see, you won't miss.

An alternate to that is as soon as you're paid, put 10% of your paycheck into savings. Immediately. Again, what you don't see, you won't miss. And everybody can live on 10% less. Just find something you CAN give up - Starbucks every morning, the monthly gym membership you never use, something.

There's always something you don't really need. The idea here is to start a savings program. To squelch those spending sprees and instead start saving money!

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