This may seem like a no brainer but it’s the number #1 reason that most people are either always broke or straddling the broke line.
Using your money to buy things that you really don’t need is the main reason that you're all out of cash one week into the month. If you’re currently spending 15% or more of your income on non-essentials that you could easily live without – you're in the “poor man” frame of mind and need to snap out of it – fast.
You don’t need 20 pairs of pants or 10 pairs of oxfords to look decent – you simply need a handful of quality items. You also don’t need the latest iPhone, largest plasma and every PSP game known to man – you're a big boy you can do without the flashy gadgets too. The only time you're entitled to make extravagant purchases is when you’ve reached all your financial goals and are earning enough to cover all your heart’s desires and then some.