I’m the ultimate expert at not spending money. Want proof? I wore the same $40 Skechers almost every day for 5 years until they finally fell apart recently. RIP, old faithful shoes (yes, they were pretty gross by the end).

As a cash flow expert CPA, let me share how you can stop throwing away your money and start building wealth instead.
1. Track Every Dollar You Spend
You might think this sounds boring, but here’s the truth: you can’t fix what you don’t measure. Most people have no idea how much they’re actually spending each month. Once you start tracking, you’ll naturally spend less because you’ll see exactly where your money is going. Want to learn more? Check out my detailed guide on expense tracking.
2. Stop Buying Expensive Things Just to Show Off
I get it – you want to look successful. Nobody wants to feel like a loser driving an old Toyota or wearing cheap sandals. But here’s the irony: trying to look rich by spending lots of money actually makes you poorer. Only buy things that will make you money in the future. Everything else? Just expensive trash. Buy what you need, when you need it. Be boring. Your bank account will thank you.
3. Cancel Those Subscriptions
Take a hard look at everything you’re subscribed to and ask yourself: “What would happen if I cancelled this?” Do you really need that newspaper subscription when you can read Reuters online for free? Subscriptions pile up fast if you’re not careful. Cut the ones you don’t absolutely need.
4. Embrace the “No Hobby” Strategy
Sure, traveling and skiing are fun. But if you’re using credit cards to fund these activities, stop right now. I have zero expensive hobbies, and that’s how I save money.
Want to travel on a budget? Try day trips instead. You’ll avoid the two biggest travel expenses: transportation and hotels. Still get the fun without the huge costs.
I play free mobile games for entertainment. When they start pushing me to spend money or get too difficult without paying, I just delete them and find new ones. Simple.
5. Ditch the Credit Cards
Credit cards are designed to make you spend more – that’s how card companies make money. Having a credit card usually means spending more than you would with cash.
Here’s the crazy part: using credit means buying things with borrowed money. Buying personal items with debt is nuts because they won’t help pay off that debt. Those fancy shoes won’t make you money, but good investments will.
Some people use credit cards for daily expenses because they’re short on cash. They end up paying huge interest charges every year. Here’s a better way: create your own “personal banking fund.” Keep some savings there and use it when you’re short on cash. Replace the money when you get paid. It’s like borrowing from yourself with zero interest.
Start by cutting expenses and building up savings. Pay off your credit card debt completely. Then switch to a debit card – you can only spend what you actually have. Yes, it’s tough at first to spend less than you’re used to. But soon you’ll develop better money habits and break free from debt.