"Buy Now, Pay Later" seems to be the mantra these days.  The Government does it, the states do it, we citizens do it, heck even tourists do it!  But does it make sense financially?  Probably not.

Go back to the basics:

• Know the real value of your money
• Know where your money is coming from and where it's going
• Have clear financial goals
• Always put something away into savings
• If you don't have the money for a purchase, don't make the purchase

Remember the "old" way of doing business?  You know, before plastic, when you actually saved up enough money to pay for something before you made the purchase?  Do you remember the days of "layaway" when a store would hold an item for you and you'd make regular payments to the store until you'd paid in full, then you'd take the item home with you?

Turns out, the "old" way of paying for purchases is pretty smart. It required us to be much more cognizant of where our dollars were going and whether or not a purchase had value in the big picture.  We had to plan for purchases, earn the money to pay for them beforehand, then get the items.  We understood the real value of money and were careful with how we handled ours.  As a result, we didn't carry the massive debt burdens many people are under these days.

Today, people go to a store, swipe a piece of plastic and walk away with a purchase blissfully unconcerned about HOW they are going to actually pay for the thing.  It's always, "I'll worry about that later." And that's how the debt grows... and grows... and grows. 

Stop it! 

You're in charge of your financial habits.  Step away from the register or the "Buy Now" button online, engage your brain and think about what you're doing.

• Does the purchase make sense?
• Is it aligned with your goals?
• Does it keep you moving forward?
• Are you under control and on track?

If you answered "no" to any of these questions, then don't spend the money.  It's that simple. 

Remember the exercise of figuring out how many additional hours at your REAL hourly wage you'll have to work to pay for something?  Well, figure out what that number really is and then decide whether or not the expenditure is worth it. 

Remember the exercise of figuring out how many months or years it will take to pay off your existing debt?  Adding to it with another mindless swipe or click only extends the payoff time.  Why would you want to do that?  A little bit of immediate gratification will cost a lot in compound interest over the coming months or years.  Doesn't make sense, does it. 

Create quality financial habits and make them part of your everyday thinking.  Ask yourself quality questions before making a purchase. 

Make this your new mantra:  "Buy Now, Pay Now."