Spending money is part of our daily lives. Some of the expenses we incur while spending include paying rent, fueling the car, entertainment, food, and clothing. These are just some of the major and important ones that almost everyone has to incur. The size of everyone’s expense is determined by various factors including the importance of the expense and income levels. Spending however diminishes the income thus affecting our abilities to save and invest. To pursue these things, it is recommended that one should spend less than they earn. However, this simple statement is very difficult to implement. New spending demands and opportunities keep arising on a daily basis and…