2. Economic scarcity makes the choices for you: Once when you learn to hedge needs wants and demands. You will learn the amount you can spend is only how much you have.  The money spent on your wants and demands will not allow you for fruitful investment such as mutual funds, fixed deposits, and retirement plans. In such situations, economic scarcity makes the choices for you. So it’s better to learn the rules of making good and adequate choices before starting the money game.

3. Don’t raise expectations with raised ranks: You have a tendency to quickly adjust with your improved position. Getting promotion over a job or achieving something doesn’t mean that you take the situation for granted and raise your expectations along with it. Suddenly you desires for a better car or a big house is dangerous. These desires directly affect your personal finance and economy. If it’s to convey morally then maybe you need to look beyond your wallets for true content. Restrict your demands and let you need only come up to your want.