Develop Healthy Spending Habits

Developing and maintaining healthy spending habits seems easy in theory, but prove harder in practice. From the time we earn that first paycheck to receipt of our first retirement check, financial goals change, but smart spending habits hold true. Consider practicing these habits through the times of your life:

Young Adults

There is no better time to learn and practice healthy spending habits than in our early adult years. But today's Millennials are swamped with 24/7 sales messages on their electronic devices, television and in print.

At any age, start by using your head and putting your heart in cold storage when shopping. When you hear "buy, buy, buy" answer the question "why, why, why?" before spending a dime. Learn to curb your buying impulses. Ask questions.

• Do you really need to buy a new smartphone when your old one works just fine and is paid off?


• Do you know how those designer lattes add up each month, each year?

Understand your total expenses and learn to differentiate between needs and wants. Once you take the emotion out of buying, put your new spending plan in writing. Detail your income and expenses, and build an occasional indulgence into your budget.

Ultimately, you'll appreciate the discipline that leads to a healthy financial lifestyle.