There are three kinds of people in this world: excessive spenders, misers, and people who know how to balance their spending. And you don’t want to fall in the first two categories.

An excessive spender is a person who makes extravagant expenses, such as luxury watches, expensive dinners or entertainment expenses, even if he is not rich enough to afford all these. He spends money as soon as he has saved up enough for his next purchase. [Read more…]