Warm-Up

Look at the following tips for controlling spending and saving money. Which do you think would work for you? Which do you think are bad ideas?

1. Put your credit cards in a bowl of water, put them in the freezer, and leave them there. Then, if you really want to use them, you’ll have to spend a lot of time waiting for the ice to melt. This delay may give you a chance think more carefully about how often you use them.

2. Put 20% of your pay every month into a separate account and watch it grow.

3. Cook all of your meals for the week on one day so that you are not tempted to eat out and spend extra money.

4. Write down every item you spend your money on (or use an app to record each expenditure) and keep a record so you know where your money is going.

5. Treat yourself to something special once a week as a reward for saving money.

6. Keep a photograph of the thing you want (for example, a car, a new house, a holiday, university tuition, etc.) by your bed and look at it every night before you sleep.