My friend Liza is trying to get a start in investing.  She knows she's ahead of the game because she's looking at investing instead of saving.  Most people are still worried about getting out of debt, much less saving or investing.  Meanwhile my friend Issur is worried about whether his travel expenses are justifiable.  These represent two issues of spending philosophies that people need to put some thought into:

Experiences vs. Possessions

One thing I think everyone needs to think about is which of thier spending habits have actually paid off and which have they regretted?  I read a study recently that described that most people regretted almost every major purchase except experiences.  Everyone felt like they had spent too much on their television, car or home, but almost never regretted money they spent on travel or other memorable experiences.  This is something you, and Issur, should keep in mind.  You rarely hear about people wishing they had spent more on their car, but you hear about people regretting spending too much on their car all the time.  Think about that the next time you are trying to figure out if an expense is justifiable.

Keeping Motivated After Getting Out of Debt

I also think that Liza's problem is really interesting too.  She doesn't realize that she's already jumped one of the biggest hurdles out there.  Most people only think in terms of "getting out of debt."  They worry about getting to zero, which is hardly an admirable aim.  Unfortunately after they get there they don't have that same urgency.  Being in debt causes a pain that not saving doesn't.  You also have the problem that most people think you're successful because you're better off then they are.  It's much harder to keep from spending if you know you've escaped the debt that's weighing down so many of your friends and family. 

Don't let this be you.  Think about those regrets that possessions generally represent and make your money work for you.  Saving and investing are the tools for freedom.  Flat screen TVs are a millstone that will weigh you down.  Keep this in mind at all times.