Don't buy if you don't need it

As we move toward the summer holiday, my final thoughts for a while on spending. The statement "the best way to not spend money is to not buy things you don’t really want or really need" is a great piece of advice to follow if you want to control your spending habits.

One of the biggest causes of financial stress is overspending, and a lot of overspending can come from impulse purchases or purchases that aren't really necessary. By focusing on buying only the things you truly need or want, you can avoid unnecessary expenses and keep more money in your pocket.

However, it's important to keep in mind that there are certain expenses that are necessary and can't be avoided. For example, rent or mortgage payments, utilities, food, and transportation costs are all necessary expenses that we need to pay to maintain our basic needs and lifestyle.

Moreover, there are times when we may want to buy things that are not necessarily needs, but that can add value to our lives. For example, buying a book or going to see a movie can be a source of entertainment and relaxation, even though it may not be a necessity.

In conclusion, while the statement "the best way to not spend money is to not buy things you don’t really want or really need" is a good reminder to be mindful of our spending habits, it's important to find a balance between our needs, wants, and financial goals. The idea of not buying name brands when there are generics available can be a good way to save money on everyday items. Generics or store-brand products are typically less expensive than their name-brand counterparts, and in many cases, they are just as good in terms of quality and effectiveness.