It’s a simple question and for many of us with a monosyllabic answer – SPEND IT!

Yes, we can spend our money but we can also –

• Save it
• Invest it
• Gift it
• Lend it
• Waste it
• Borrow it

There is so much that you can do with your money. The response to what you should do with your money is not going to be all of the above!

If you have recently become independent with your money then spending is likely to be on the top of your list. Before you go about spending it all, make sure to have two sides – needs and wants. Pay more attention to your needs, the wants can follow slowly.

Before you spend, the first step really should be to save. Vow to save every month or whenever fresh income comes in. Save before you begin spending.

Leaving your savings in your bank account is not worthwhile. So, invest what you save. To ensure the discipline of investing regularly, simply automate the process just like you would your morning wake up alarm.

Once you have saved, invested and spent on your needs, you can now focus on your wants. After all, you have to use your money to have fun too!

Of course, never waste it, try not to borrow it, gifting is fine after you have saved and lending it – well that’s a tricky business to be in – just ask your bank!

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