I seem to have perfected this art over time. When I was young, all that I could think of was spending on fancy items that I did not need but felt the urge to do so. Many times I would spend recklessly without giving any thought to saving or investing my money.

With age, as the responsibilities and priorities changed, I became more aware of cost of living and pressures of utility bills and credit card charges. With this came the realization that I needed money for future security too, mine as well as my familys, and I started giving a serious thought to investing my money so that it would grow, slowly and steadily.

If you come down to considering the bare facts, savings must precede investment. I came to realize this very early in life, that it is only after I save enough that I can think of investing my money.

With credit cards making it easier by the day to spend even from the comfort of your homes, it becomes all the more imperative that we make a conscious effort to save and invest. To make matters worse, the tempting advertisements being telecast to lure you into spending, make it all the more difficult to resist meaningless expenditures.

For saving money for investment, one has to be cognizant of the fact that there are alternatives to practically all urges to spend. A plain cup of coffee will probably give you as much satisfaction as an expensive espresso would. Grabbing a sandwich every time you feel the urge seems mundane and a necessary expense because you are hungry. If you pause a bit and think whether a packed lunch would have sufficed instead, you will easily realize that it would in almost all cases. Joining a library to read a book is a cheaper option than buying it. As it is, after you have read it, it is going to remain in the attic for long and ultimately you are going to consider a garage sale to dispose it off or donate to a library.

That is the hard way I came to a conclusion on the ways and means to save and invest my money. I would suggest the same to all who feel that it is futile to satisfy urges, strong or mild, to spend carelessly now and repent later.