Every dollar you spend has consequences elsewhere in your life.
Singletary and her four brothers and sisters were raised by their grandmother, who earned a modest salary but owned her home and car and accumulated a nice savings and pension while providing well for her family.
Cutting costs was more than a handful of tips, says Singletary.
Her grandmother looked at potential purchases in terms of "what you could spend that money on that would put you in a position of not having to struggle," says Singletary.
"I ask, 'What are the consequences of spending this money?'" Track what goes out That approach, save automatically and spend selectively, is exactly what money experts and consumer advocates advise.
Bach says you do, however, need to change your thinking.
"Without exception you have to do a written plan, called a budget," says Dave Ramsey, author of "The Total Money Makeover."
"It varies from month to month," Ramsey says.
"Every time somebody goes to the supermarket, I want them to try one more store brand," which Howard notes costs up to 40% less.
After two years of depreciation, you can get a good, high-quality car at virtually half price, says Bach.
"And if you ever do buy a new one, plan on keeping it five to 10 years," he says.
If you must use a credit card, make sure it's one that gives you something.
Look for a no-fee card with a rewards program.
Your cell phone certainly comes in handy, but is your plan really worth what you pay?
You don't change the amount; simply send in half a payment every two weeks.
Automatically transfer part of each paycheck to a retirement account before you get your take-home pay.