Unless you’re fabulously wealthy, it’s likely that large expenses in your life will require planning in order to purchase. Define what you’re saving for to help keep you on track when it comes to avoiding unnecessary purchases. For example, if you remember that your goal is to save N100,000, 000 over the next ten years in your child’s college fund, it will be a lot easier to stay out of the drive-thru line.

Consider that you may need to save up for pricey necessities like a car and a home. The average American will own a total of six cars in their lifetime, so it may be a good idea to start saving for your next vehicle now, even if you don’t currently need one.

Finally, it’s essential to save for retirement from your first job to your last. According to a recent study, most Americans near retirement have only save twelve percent of the recommended amount for retirement. That may be because getting to a place where you have extra income to save takes time, but may also be because many people don’t practice good money-saving techniques from an early age.