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The key to financial success is to make every major purchase a strategic purchase. You need to make a list, a limited number of things that you need to live well on little money. You need to know which of these items you need first, and what is the best product to satisfy your needs. When the time comes to purchase that item, you need to know if this is a purchase you should make with cash or credit, and you need to shop around to get the best price. List and prioritize your strategic purchases, which are the things that you need to live well for the next ten to fifteen years. Use the Strategic Purchases spreadsheet to create a strategic purchase schedule and budget.
Strategic Purchases Spreadsheet (.xls file)
It may take you one or two years to get yourself set up to be able to make large investments from your income. What you need to do is make decisions on shelter, transportation, household goods, etc. to last you through a period of ten to fifteen years of frugal living. Your decision on which house to buy or apartment to rent, which car to buy, which refrigerator, washer, dryer, etc. all should be based on a goal that this will be your only purchase for the next ten to fifteen years. When your car is paid off, don't start thinking about a new car, plan on driving it until it is no longer reliable. With every purchase, try to maximize years of service, at least until you reach your financial goal.
If you can hold off on buying luxuries for ten to fifteen years, you will be able to afford luxuries without having to work for them. Make sure anything you put on the Strategic Purchase list passes the Needs vs. Wants test.