Style: It's a word many think describes the way we dress or the way we act. But did you ever think it might be used to describe the way you spend your money? Yahoo! Finance columnist Laura Rowley says we all have a unique spending style and by identifying it, we just might be able to save ourselves a little bit of cash. Jean talks with Laura, author of Money and Happiness: A Guide to Living the Good Life
, about her book and about different spending styles. Plus, Laura shares advice to help you make the most of your spending:
- Be in touch with what you value. Your values are reflected in everything you do every day, Laura says. It's important to be value-driven in all your desires, even the ones involving money, she says.
- Resist the urge to panic about money. Everybody is panicking as the economy falls into a crisis, but history has shown that when you stay the course, things do work out, Laura says. To stave off money worries, Laura suggests surrounding yourself with rational people.
- Know your spending style. Whether you're an indulger or a planner, Laura says we all have our own spending styles. Knowing who you are, identifying your spending style, using budgeting tools and becoming educated on the basics of personal finance are all tactics Laura says can help you save cash.