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Analyze Your Spending Habits

Make Rational and Informed Spending Decisions to Help You Save Money

Another important rule of financial advice is to analyze and rationalize your spending. Think twice before spending your money. If you find yourself getting excited about making a purchase and want to jump into it immediately, make sure you step back and weigh that decision. Do you really need that item? Is the long-term value of that item worth the opportunity cost of spending that money elsewhere? If you can't find a solid reason to spend your money, then don't spend it.  Take our financial advice and save your money!

The next rule is to understand opportunity costs.