Smart money tips to live by

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We all stumble along the way as we struggle to spend our money wisely. Sales and discounts and impulse buying in general are always very attractive, but we’ve to be mindful of saving up for the proverbial rainy days. It’s never too late to truly learn from your mistakes, no matter how old you are. Let’s look at some tips on better handling and managing your money.


First off, it all begins with setting up a savings account. It’s always tempting to splurge whenever that new paycheck comes in, but always prioritize putting some of the money into your savings. We suggest making the process automated, so you won’t have to be lured to decide otherwise because of, say, some huge sale. Think of it as money you don’t have: if you don’t get to see the amount, you don’t get to spend it.

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Again, we can’t emphasize enough the fact that you shouldn’t spend your money on things you don’t really need. Every now and then you can, of course, indulge, but always remember that what you want is different from what you need. For example, spending too much on a fashion collection like sneakers and clothing will severely hamper your savings efforts.


Lastly, be mindful of the so-called lifestyle inflation. You can save as much as a third of every pay raise if you don’t fall for lifestyle inflation, so as early as possible stick to a sound saving, investing, and debt payment discipline despite how your career is improving. As much as possible, prioritize increasing your savings whenever such job promotions occur.


Hi! I am Douglas A. Grady, a financial advisor based in California. I’ve been in the industry for over 15 years. I like to use this blog to help others learn about saving, investing, wise spending, and giving back to charities and communities. For more tips on money, follow this Twitter page.