We all know that to get rich, we should avoid being in debt. But, still, we tend to borrow for kitchen/bath renovation, and think, it is perfectly normal.
Is it really? Is that is the thing making you happy, then you have a reason for that debt. For most people, the debt of that renovation is scary. One more item to feel poor and to feel unhappy.
So, think of happiness over consumerism. Then we will find that spending less than we earn and saving few bucks will makes us feel rich and happy.
I used to enjoy a glass of wine on weekends. Then, I was getting take out dinners like once or twice a month. Starting January, we stopped that habit. We use to cook all meals at home. Decided to have alcohol on special occasions only.
As a result, I lost 5 pounds without big workouts. To add more happiness, I can see my spending is also less.
The family grocery shopping is on Fridays now. Since Sunday is off day, the car stays in the garage. The errands are planned in a way to reduce the gas expense. I feel that is good for the planet too.
With little bit of money left over at the end of the month, I can think of maximizing my TFSA. I would like to do TFSA before RRSP, because, the earnings in the TFSA is tax free. The RRSP amount is taxed when we take it out. RRSP also has more restrictions than TFSA.
Each financial transaction becomes questions like: a) is it going to make me happy
b)is it going to make sense
c)Can I get it at a lower cost
See, that is habits doing to me. It is getting wired in to my brain. So what are your habits making you happy?