How you spend your money is a great indicator of how you will make your other financial decisions. For example, if you are confident in your spending because you know you have financial resources to pay for the items you are purchasing, and that there are no potential negative consequences for buying or not buying something at that particular time, then you are able to enjoy guilt free spending. However, for many people, there are certain triggers such as holidays or celebrations where normal spending habits and controls relax or disappear altogether.

Why does this matter? Because spending money is a fact of life, it is important to understand that ‘how you do anything, is how you do everything’, meaning, it’s important to pre-plan your purchases; know how much you will spend on certain items; and have an exit plan for items purchased on credit – and to put your spending plans in writing, even if it’s just a simple list, before you go shopping.