The state of the economy at any given time dictates how each of us should spend our hard earned money. Not every one is rich to the point that money is not an issue to worry about. It may become a necessity to learn how to spend your money wisely because no matter how much money you have, you never know how bad the economy will get in the future and where you will end up in the aftermath.
Preparation is the name of the game if you want to stay afloat financially. We should be smart enough to know that the economy may take a dip at any given time. This means that everyone should learn money handling survival skills and practice them as if the economy is going to tank tomorrow.
Financial survival may mean cutting costs on everyday expenses. This may mean dropping expensive hobbies, putting off buying a new car for a few more years, eating at home instead of eating out, canceling a much needed vacation, buying cheaper clothes, or drinking beer instead of champagne. In other words, the state of the economy may force you to become a thrifty spender.
How you spend your money today may determine what your life will be like for years to come. Although we won't admit it, most of us can see the coming of a bad stretch in our lives but we ignore it until it is totally upon us. We continue to live the lifestyle we are accustomed to by spending ourselves deeper into debt. We hope that the bad times won't last too long so we keep on doing what we are doing.
We, in many cases, are forced to become thrifty spenders because our lives depend on it. If you keep spending wildly, you might lose everything you own. You have to take control of your spending habits which may be a hard pill to swallow. Some of us get lulled into believing that our jobs may never fold, our incomes will never drop, and our financial health will always be strong and robust.
But sometimes things happen that are beyond our control. A layoff, a sudden drop in income, a business failure, an unexpected illness, or even worse, the death of a spouse can take a toll that may take you many years to recover from. If you are one of those people, you are not alone. If you take a look around, you will see millions of people just like you. They saw what was coming but it just didn't register how bad things could get.
There is a lesson to be learned in all this. It is very important that you pay attention to what is going on around you. It doesn't matter how much money you are making or how much money you have. If you don't take care of your money, your money will not take care of you. It is imperative that you learn to be a thrifty spender. This is not to say that you have to be a miser, but you have to be smart with what you have.
You can spend wisely, calculate your earnings and investments, make adjustments to your spending habits where possible, and change your living arrangements to fit a more prudent lifestyle. Making small changes in the way you spend your money will go a long way in insuring that you don't bankrupt yourself financially. Become a thrifty spender and prosper.