I'm not talking about putting off the bills to buy groceries or pay for necessities. I'm referring to those little things that you just have to have but really don't need.

This could range from buying a soda or cup of coffee everyday to buying furniture or a car when what you have will work just fine. The bottom line is that if you can afford it and your bills are being paid, then go for it. Otherwise, think long and hard.

In some cases people feel that they are owed these luxuries because they work hard and deserve to reap some of the rewards for their efforts.

This simply isn't the case. If you have too many bills to allow for luxuries, in most cases, it's because you have obligated too much of your money. The time to think about this is before you obligate that money.

Your paycheck really isn't yours. After Uncle Sam takes his bite you still have to pay your bills and necessary expenses before any of that money can be claimed as yours to spend as you choose.

This is why a budget is so essential to managing your money. A budget, set up properly, can prevent you from obligating more of your hard earned money than necessary, thereby leaving you with money to buy the stuff you want.

Putting off any of your bills can put you in a serious financial bind very quickly. However, putting off things like your house payment/rent can have devastating results. Doing this because you just lost your job is one thing but to do it because you want a new couch is unthinkable.

If you are doing this please be warned that it will catch up to you. I can guarantee that it will be much harder to correct the problem than it was to create it.

Take the time to sit down and work up a budget. Make sure to allow for all of the bills and expenses that you have. If there is money left over, that's what you can use to splurge.