24-hour rule

Before you decide to buy something, give yourself a day to think it over. If after 24 hours you still want to buy it, then go ahead. Don’t let your emotions make you buy something you don’t need.

Use cash

Credit cards are a double-edged sword. People who plan their spending prefer cash over credit cards, especially for small purchases. The card tricks your senses, making you unaware that your money is 'leaving'.

Set standards

It may sound cliché, but setting a clear limit and sticking to it will help you limit your spending scientifically. For example, regular spending accounts for 50%, personal spending accounts for 30% and 20% is for savings.

Spend on things that make you money

Rich people often spend money on long-term investments. For example, buying things that help with work such as: a business suit, a computer, a car...

Spend money on services that save you time

The rich are not afraid to spend money on services that save them time and are beneficial to their spiritual life. They focus on investing rather than spending. Having groceries delivered to their home, hiring a maid, using a laundry service or renting a house closer to work are all ways to use their time more effectively. These things may cost more money but will give you more time to do the things that make you happy.

Experience is precious

Rich people value life experiences. They do not hesitate to spend money on trips and new activities such as skydiving, diving, gym… to improve their experiences and health.

Pay bills first, enjoy later

Good financial managers are those who know their regular expenses. They follow the rule of paying their fixed expenses first and then consider spending the remaining money.

Make a regular shopping list

Everyone loves a sale. But it’s not wise to buy too many deals, including things you don’t need. Make a list of things you need, then shop for deals on those items only.

Spend money on things that make you happy and healthy

It is often said that the rich can do and play because they love what they do and invest in things that make them happy. If you are passionate about constellations, boldly buy a telescope as long as you can afford it and it makes you happy.

No Spend Days

Set aside a few days a week or a month to practice the “no spend” principle. It will help you learn to control your urge to spend wastefully.

Let's fix everythingbefore throwing them away

Rich people also believe that things should be fixed before they are thrown away. Fixing things saves you money and helps the planet.