Someone who is interested in saving money needs to start with one simple rule: think before you buy! The majority of the money that we waste is spent on impulse buys and purchases that we don’t completely think through before we make them. By learning to slow down and make conscious buying a part of your daily life you’ll be able to start saving money immediately.

Some purchases are relatively easy to think through because the purchases are simple. For example, let’s say that you see a new shirt and you want to buy it. To think through this purchase you would want to ask yourself a few questions including whether you really need it, whether it supplements what’s already in your closet and whether or not you can afford it. This type of thinking helps you to see if this is really a good purchase or just an impulsive waste of money.

Some purchases take a bit more thinking through because they involve ongoing expenses. For example, you may want to get a new dog for your family. You would have to consider not only the initial cost of getting the dog but also the cost of expenses such as food, dog toys, medical care and extras like pet beds. Thinking through those purchases is a bit tougher but it’s even more important than thinking through the small buys.

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