How to Spend Smart for a Brighter Financial Future

Everyone who knows me, knows I’m frugal. I try to save what I can when I can, and I like to think of myself as a smart shopper.

Spending money is easy. Too easy. But if you have to spend or want to spend, it takes a little more work to do it smartly.

To spend money smart it takes:

  • Information – Know what your finances are. Keep track of your banking accounts and do research before you shop, especially if you’re shopping for big items.
  • Motivation – Sit down and make a budget and always pay yourself first. It will be motivating to know you’re putting yourself first. Even if it’s just a few dollars, it adds up.
  • Willpower – Find something that is important to save for… retirement or your child(s) college, etc., and use it to stay strong and not spend money on a whim.

I think willpower is the toughest for most people.

This is a lesson I’ve been trying to teach my son. Just because you have the money doesn’t mean you have to spend it. But if you do, spend smart.