Every time you buy something, you not only have less money in your checking account, you lose the opportunity to have more money in your savings account.

Think about each potential purchase as an opportunity to make money. By not buying something small, you gain the ability to buy what you really want later on.

Shut off your "purchase auto-pilot" and actively think about every purchase you want to make. You'll be surprised how much you can save with some smart shopping.

Five questions to ask yourself before using your credit card

  • Do I need this, or do I just want it?
  • Is there a cheaper way I could meet this need?
  • Is there a better way to spend this money?
  • Will I be glad I made this purchase in a week?
  • Would I still buy this if I were counting out dollar bills?