A good financial habit is to learn how to occasionally deny yourself.
As a child, I was denied fairly often. I remember asking for things on multiple occasions and not getting them. I was definitely not spoiled, nor was I neglected in any way, but I do remember that feeling of denial of my wants very strongly.
So, what did I do when I grew up? I bought myself a treat every time I went to the store, never passed a gift shop or sweet shop without a purchase and always went to the vending machine. It was now MY money and I was going to satisfy every one of MY wants EVERY time, to soothe my inner child who wanted and didn’t have.
Well, that went awry pretty fast. As an adult, I know that I don’t need everything I want. One of my parenting theories is that it’s good for a child to hear “No” about as much as they hear “Yes” – not too much either way, but a balance.
So I decided to apply this theory to myself, and practice some self-denial at the store/online shopping/vending machine. It worked, and I’m a happier, healthier, unspoiled adult for it – and my receipt totals are less too. I challenge to to take something off your wish list today and deny yourself, for the financial gain and the growing experience as well.