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8. Save for indulgences.
Assuming you're on track with your retirement savings, have no credit card debt and have an emergency savings fund, I'm not going to deny you fun—so long as you've saved up for it. If you want to have $5,000 for a milestone birthday trip in two years, you'll need to put away about $200 a month now, given today's low bank rates.
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.