I happen to watch a youtube video - Money Mindset by Chinkee Tan talking about how one should have a mindset about money. During his interview he tackles a lot of tips when it comes to handling your finances. Some of these you might already know, but it's really worth listing so here it goes: 1. Do not compare yourself to others. Everyone is unique in his/her own way and that includes financial capacity. Does your friend have a new mobile phone? Do not put yourself into debt just to keep up with him/her. 2. How we are today financially is a product of how we are raised. It would be harder for people born from a poor family to spend 10,000 peso than for people who are born with a golden spoon in their mouths. 3. Being born poor is not a sin but dying poor and doing nothing is. Chinkee has mentioned few names that proves this statement - Manny Pacquaio and Efren Penaflorida. Being born poor and dying poor would mean you have spent a lifetime doing nothing about it. 4. Change the way you think. Mindset plus action equals result. Having a positive mindset plus positive action would bring positive results. Poor mindset plus poor actions definitely will yield poor results while having a RICH mindset added with RICH actions will totally bring you RICH results. 5. Making more money won't solve your problems. It sometimes even brings you to bigger problems. The solution is to overcome your FEAR which he defines as False Expectations Appearing Real. Overcome your fear, convert it to something that will help you be a better person. 6. Live below your means. I already heard this a lot of times but people doesn't even know how to pay themselves first. If you happen to follow this - Income less Savings equals Expense - then you're good to go. 7. Follow Chinkee Tan's 7-minute habit. According to him, doing things for at least 7 minutes on a consistent manner for 21 days will make it a habit. And it does not only apply to handling finances but also to other things like losing weight, etc. 8. Learn how to create and grow your money. People complain that they are not able to save because they don't have money to save. There are a lot of ways to create money such as working for a job, entrepreneurship, investing, etc. 9. In using credit cards, always pay the due in full. Only swipe the card for purchases that you really need not for the things that you really want. 10. Pay it forward. People who spends today would probably be paying in the future. So why don't we do something in reverse - Pay today and enjoy the fruits tomorrow. Going back to the title of this post, "Do you spend a month of your salary for a coffee?" Let's have a sample computation: Php 100 / day Php 500 / week Php 2,000 / month Php 24,000 / year So, if you are earning Php 24,000 per month then it's safe to say that you are spending a month-worth of your salary for that Php 100 coffee per day. It might have been a million in 40, 20 or even 10 years if you have used it in investment or business.