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The Wise Investor

anything that you don't really need.
Have a close look at your recurring expenses,
things that come up on a regular basis. Servicing the
car is a perfect example.
For each regular activity, make sure you perform
it as infrequently as possible. Now, don't neglect
anything, or much bigger problems will arise in the
future. Cars, for example, should be serviced
regularly and promptly.
However, don't do anything more often than it
needs to be done. In the long run, this can make a
big difference to your overall expenses.
My next suggestion," he said, "relates to gifts. It
is a wonderful thing to give gifts to loved ones, and
one that I indulge in myself. However, don't
overstretch yourself. Decide how much you can
afford to put away each week for gifts, and keep to
your limits on Christmas and other occasions.
Sometimes, we receive expensive presents, and
feel obliged to buy an equally expensive one in
return. If a present is given, however, and an equal
present is expected in return, then it is not a true
gift; it is a business transaction.
It can be difficult, I know, to show restraint in
purchasing gifts, but you have your own future to
think about as well. One final point on gifts. A gift is
an expression of love for a person. The more
personal involvement you have in a gift, the more
meaningful it is.
Become involved in your gifts. Select something
carefully that the recipient really wants. Wrap it
yourself, or have it specially wrapped. Write a
personal, descriptive card.
If you have a hobby, consider using your hobby
to make gifts for your loved ones. A gift with this
involvement can have more meaning and have less
monetary cost than an 'off the rack' present."