Spending money on higher quality products makes more sense than having to buy the lower quality product multiple times in the same span. But also don’t assume just because it’s more expensive that it’s higher quality.

I was spending $80-120 each year on lower quality hiking boots. About 10 years ago I finally spent $250 on high quality Merrells, haven’t needed to buy a new pair since. I hope the quality is still the same when I need to buy a new pair in 2035.

Make a budget, each month.

Write down your expected expenses. Keep it simple. Use paper and a calculator.

Rewrite the list, in order of priority, to you.

I’ve met so many people who are scared to do this, yet would be pleased if they did.

If you can afford this…

…Whenever you’re at the store and make a debit card purchase with the option for cash back, get some back. $5, $10, $20…whatever. And put this into a rainy-day fund. You never know when you might need some quick cash or it’d be the make-or-break for a quick splurge.

Granted, I learned of this method from a friend of the family who used this method to hide money from her husband so take it with a grain of salt.

For me it’s a matter of my mentality. I have tried to get away from the spending mentality. As soon as you get money you start thinking of ways to spend it. You should be thinking of ways to save it. I usually try to think of something that is important to me. For me I like to go out and see the world. That means buying gas. If I spend $5 on a cup of coffee that’s about 20 mi I can’t drive. As others have stated you got all these streaming media sites and stuff. If you add that all up over a years time is quite a bit of money. You should get rid of anything you don’t need. There are two ways to have more money: Make more or spend less.

For bills that are due on a regular basis but not monthly (car registration, oil changes, pet’s annual check up, HVAC check ups if you own a home, etc) - figure out how much each costs per year, add them all up, divide by 12, and set up an auto-transfer to a savings account for that amount every month. Don’t forget to include that amount in your monthly budget too.

“Prevention > Cure” and “investment in you and the things you use most will pay dividends in terms of health, money, and mobility” is the very TL;DR version.

If you’re in a country with an asinine healthcare system like the US, it’s definitely prudent to take care of your health rather than being caught out by something. This includes regular dental check-ups and cleaning (trust me).

You spend a lot of time sleeping. A good mattress and linens are very valuable to your health.

If you are on your feet a lot, comfortable should also be a priority even if they cost more.

Work out to your ability. Being sedentary is detrimental to your health and causes pain (both physical and financial).

Try to save and buy better quality versions of things where it makes sense. If you only spend $10 on something but it lasts only a year, it’s better to spend $30 or $50 on something that lasts you ten years or a lifetime.

Remember that investments can take many forms and pay out differently. Investing in your health is already mentioned, but invest in your education. If you don’t have money, you can still find tons of free resources online or at the library to skill up in ways that help your life (either your job prospects, your home life, or even your mental well-being).

And, perhaps more importantly than most other advise, live within your means.

I realize that not all of these are possible to everyone all the time (I was homeless for a while; I understand). These are goals and any progress is worth it; do not let perfect be the enemy of good.

0. Spend less than you earn. Earning interest is better than paying interest.

1. Debt can be good if used wisely. I took on debt to buy an apartment that saved me money due to cutting commute costs more than interest costs.

2. Think long term.

Don’t use your bank or credit card! Get the amount of money needed for let say the week as cash and use cash everywhere. You know always how much is available without checking your bank apps. When the week finishe if there’s some money still available you could use it for “less needed” goods.

Look up how cumulative interest works, then start investing in ETFs or index funds that follow MSCI World or S&P 500 for example. Then wait.

VoIP is cheaper than cell service.

Vinegar is a good cleaning agent.

A hard drive at home is way cheaper than cloud storage.

Tailgating burns more gas.

Every luxury takes work to pay for. Even a fancy car for people making well over six figures is a financial ball and chain. Think long and hard about the stuff you buy.

Budgeting is very important. some people like the 20% of income for saving, 30% for living expenses and the other 50% for everything else. Pre or post tax is up to you as this is a rule of thumb. Important part is that it should be easy for you to build up your savings to cover important expenses. spending 50% of income on housing may be really bad since having back to back years of badluck can screw over your savings, and not give you enough time to save up in between.

This is a general rule that applies when you make enough to do so. If you’re struggling to pay rent, do what you can to remove risk and cut down on costs. One thing that helps is aiming to have savings. Often times, its cheaper to have money up front to resolve emergencies rather than later.

Car is one of those things that can make sense to remove. If you’re commuting one hour already by car, and there’s no public transit option then a car is a necessity. If you can take public transit, that could save you money on car insurance, car payments, car maintenance, and possible accidents.

Pile as much money as you can, as often as you can, into VTSMX or VTSAX and chill.

We have a credit card that gives 6% cash back on groceries, 3% on gas and some discounts on streaming services. It blows my mind that every few months I can cash out a $200 or so credit towards my balance. I needed to buy those things anyway and have autopay set to the full balance each month so it really is free money. So if you can get one, absolutely a credit card that gives cash back. The one I mentioned is Amex Blue Cash Preferred but there other options out there that give other bonuses, like 2% back on everything or 6% back on something up to a certain cap.

USA edition:

If you’re a billionaire: vote Republican.

If you’re not a billionaire: vote Democrat.