Posted by: jinoe | April 4, 2007

My Road to Riches – The Don’ts I Easily Fall Into

In the book “Don’t spend your raise and 59 other money rules you can’t afford to break”, Dara Duguay outline some do’s and don’ts in managing personal finances.  The book is a simple outline of the rules with real life examples of people who followed or disobeyed the rules.  I can easily relate with most of the examples.  And many of them, I find hard to follow.  Here are some of the rules I love to break.

Rule 9:  Don’t cure boredom by going to the Mall.  A neat advise.  And this goes for other moods like being depressed, lonely or celebrating.  The author explains that these moods trigger a spending spree.  I definely agree.  I often make unnecessary purchases when I feel depressed and keep telling myself that I deserve a treat to be happy.

Rule 13:  Don’t carry around lots of cash.  How true.  Sometimes I would wonder where did my money go.  I have just made a withdrawal and my wallet is almost empty.  If I bring 100 pesos inside a mall, it would be gone by the end of the day.  If I bring 500 pesos, it would also be gone by the end of the day.  More cash, more to spend.

Rule 26:  Don’t shop when you’re Hungry.  Oops, I’m guilty.  And this has been my habit.  Everytime I go to the mall, I feel hungry right way even if lunch was just a few hours ago.  Once I step in, I am already thinking what and where to eat.  My favorite is KFCs Hotshots, Jamaican Patties and Big Chill Fruit Shakes.  That’s why as much as possible, I shop right after lunch.  If I shop late in the afternoon, I have the tendency to have dinner in the mall because I would feel lazy to cook dinner at home.

Rule 33:  Never have more than two credit cards.  At one time, I had four.  I was happy to have a collection.  It’s easy to get another card once you have one already.  And I use it for most of my purchases in groceries and dining.  Though I have a good control with the use of my cards, I would sometimes overspend and exceed my budget.  The worst part is I would overlook some of the items that I charged that I would be surprise when the bill appears.  Later, I just bring one credit card with me.  It’s the card where I can get more mileage points.

Rule 37:  When you pay with credit and are reimbursed with cash, run to the bank.  This is related to Rule 13 mentioned above.  Once I have the reimbursment I would have the cash and I have the tendency to spend.  But I dont like lining up in a bank to make the deposit.  That’s why this can get me to some trouble somtimes.  What I do instead is keep the extra cash at home or place it in my coin bank.



  1. guilty too. it’s all right there. we all know it, but we just don’t see it until somebody writes about it and makes a fortune selling a self-help bestseller. =)

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


%d bloggers like this: