There are five principles, which we will call building blocks, you need to know to make the most of your money.  The blocks represent the key principles to keep in mind as you make day-to-day decisions and plan your financial goals.  In this post, I will review the fifth block, Spend.  1  2


The fundamental concept of Spend is: make a budget or a plan for using your money wisely. It is helpful to set short and long-term financial goals and manage your money to meet them.

Actions You Can Take

  • Live within your means.
  • Be a smart shopper, and compare prices and quality.
  • Track your spending habits and develop a budget or spending plan.
  • Plan for short-term and long-term financial goals.

Hints and Tips

  • A good way to control your spending is to set the maximum amounts you plan to spend each week or each month. Once you have set the maximum, stick with your plan.
  • It is helpful to track your spending over a few weeks or months to get a handle on how you are using your dollars and cents. Look into using online systems or phone apps for keeping track of your spending – you will be amazed at what you will learn about your habits!
  • Be careful not to let a sale or discount coupon persuade you to purchase something you do not need and that is not in your spending plan.
  • When planning a big purchase, take the time to comparison shop and check prices at a few different stores, by phone or online.


This blog post ends the series entitled Making the Most of Your Money. The five building blocks (principles) can give you the ability to gain control over day-to-day, month-to-month finances and ultimately leads to your financial well-being. These principles will help you make well-informed financial decisions and achieve your financial goals.  LifeCrafter strives to understand the day-to-day money management challenges that all consumers face every day.

For more information and educational materials on Crafting Wealth and Self, return to the home page for details.

Spotlight Resources

Larry Marvin
LifeCrafter – Money $ense

Making the Most of Your Money: Part 1: Five Building Blocks, Part 2: Earn, Part 3: Saving and Investing, Part 4: Protect, Part 5: Borrow, Part 6: Spend


  1. ©2017 Larry Marvin, Image Credit:9677861633_e8819dd5d5_o.jpg
  2. My Money Five, Five Principles