Before we proceed, I should define one phrase, so we are on the same page—both figuratively and literally, as it turns out. The phrase is spending smart.
Spending smart is a specific philosophy for achieving financial security without depriving yourself. It is not a cheapskate plan. It’s about spending your money smarter on things you’re buying every day anyway. It abides by the notion that you can’t outearn dumb spending. Just ask all the millionaire celebrities, professional athletes, and lottery winners who end up broke.
Let me repeat for emphasis: You can’t outearn dumb spending.
Spending smart aims to plug the leaks of wasteful spending and redirect money to things you truly care about. ...