Would you change your spending habits of the past?
Many people I know learned from their bad habits by not spending a lot of money on credit cards or not wasting their money on things they really can’t afford.
If nothing else comes out of the recession the greatest gift will be teaching people to have better money management skills and not to overspend.
I’m happy with my spending habits and my saving habits. There are some things that I think I probably should have bought (generally souvenirs) but didn’t. None of those items cost less than $100 and nothing changed my quality of life.
Saving all the time can be as detrimental as spending all the time, Waiting to spend because you aren’t sure if you are going to see something better doesn’t help you. When you are not spending money on small ticket items because you are saving for a large ticket item, then that is different.
Past spending habits and saving habits have made me the frugal person I am today. There are some things I won’t buy just because I can afford them and there are other things that I want and will save up for, which makes me appreciate the purchase more. If you know that you had to sacrifice to buy something or sacrifice to maintain it, then you might think more about the item.
Thinking before buying can leave cash in your pocket…