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The Ability to Delay Gratification is one of the most valuable financial skills. The good news is that it can be learned.


Start with a budget, to help you say no to less important things in life, so you can say YES! to the most important things. Every dollar, YNAB, and Mint are all a good place to start with budgeting tools. If they aren't attractive to you, you can always do it on a notepad, or with excel. The key is to set long-term goals and adjust your short-term spending to allow you to achieve them.

Finding creative ways to keep more money in your pocket is a foundational aspect of financial success.

Keeping housing costs low is a major factor. Often people will say that renting is throwing away money. This is false. Renting allows flexibility and improves cash flow. If you are renting, you are able to quickly move to a new location when an opportunity comes up. You don't have to worry about the costs of property maintenance. Generally, the cost of renting will be lower than the cost of owning, paying interest, property tax and maintenance.

While you are renting, you can pay off debt and save for the future. Unless you are planning on being in the same place for more than 5 years, renting is often the optimal choice. When purchasing a home becomes the best choice, take time to find a place that suits your long-term needs. Avoid house fever! This is when you get overly excited about the idea of homeownership, and make impulse decisions that have long-lasting effects on your life.

Vehicles are the most expensive thing that most of us own that goes down in value. Take time to research, and find a vehicle that suits your needs, and brings you the best value. There's a fine balance between maintenance costs and depreciation costs. Newer vehicles cost less to maintain, but they cost more to purchase and lose value faster than older vehicles. Remember that a vehicle that looks cool is a luxury, not a need.

Limit monthly expenses. Recurring expenses don't seem big, but because they tend to get forgotten, or left on autopilot, make sure you're getting your best value out of your phone bill, heat, hydro, fuel etc.

Take control of spending. The Credit Counselling Society has an amazing article to help you curb your impulses.  
delay gratification, super ultra hyper mega complex financial strategy don't spend money you don't have, simple.
Debt Snowball, avalanche, payments interest, cycle, treadmill, drown, tread water, float, spinning, circles

The Debt Avalanche is mathematically optimal. The Debt Snowball keeps you motivated by paying off a few smaller debts quickly. Emotional wins are very valuable. 

Freedom, debt free, no more debt

Spending Habbits:

spending habits, save money, don't spend money on stuff you don't need to impress people you don't know