Now is as good a time as any to take a close look at how we spend our money.
It doesn't matter what shape the economy is in, it only matters what financial shape you are in.
Do you exercise caution? Are you aware of your motivations? Can you spend your money more wisely? Do you know how to avoid irresponsible spending? Why should you even care about how you spend money? The reason is simple; no matter how much money you make, there is absolutely no end to what you can spend money on.
You either spend money wisely, or you risk running out of money before you run out of month.
I've been there before, and it isn't a pleasant experience.
That's why I stick to simple rules for decision-making when it comes to spending money.
Let's look at the basics in the general area of everyday needs.
My example list is rather small, but it has the potential to cover a lot of ground since it presents needs from a 30,000 foot perspective.
The list encompasses most everything that we must spend money on in order to live a reasonably fulfilling and successful life.

• nourishment
• shelter
• clothing
• health
• safety
• security
• transportation
• gainful employment

Don't think that if you only spend money on these needs, you'll be making good decisions.
That isn't exactly true.
The idea here is that you have to more clearly define what each of these general categories means, and then be certain that the decisions you make are based on:

• reason, not emotion
• priority, not false urgency
• far-sightedness, not immediate gratification
• clear goals, not impulse
• planning, not dreaming

It's not hard to talk ourselves into spending money unwisely, even on what we recognize as needs, so we certainly can use a more clear target to shoot at.
Here is where the idea of a life plan with specific objectives can be very useful.
You can't plan every aspect of your life, but you should have yourself at least pointed in the right direction.
A plan with objectives helps you do just that.