Money isn’t meant to fix your insecurities. To achieve wealth, you don't have to tighten your belt, but you do have to stop spending on things you don't even care about, because you probably do it more often than you think.

There are two common spending traps most people fall into. See if they apply to you. First, buying for a boy or girl from your past. If you grew up facing deprivation or budget constraints, there's a good chance you want to make up for it as an adult. You want to show your former self that you've succeeded in life, that you can finally afford it, that you deserve to buy yourself that luxurious handbag or expensive car, and that you can buy your children the best clothes. If you can afford it, you probably deserved it, but just because you deserved it doesn't mean it's worth buying, especially if the purchase is intended to prove something to yourself. Negative emotions will follow.

There's nothing wrong with pursuing childhood dreams, but approach it strategically. Consider which expenses will bring you fulfillment and feel like part of who you are. Maybe you’ve always wanted to travel the world, live in Paris, or adopt a pet. If so, work to fulfill those dreams, because life is short. But if you're buying another dress because you didn't have enough as a child, or an expensive car because your parents once had a very old one that you were ashamed of, or buying your child another toy because you dreamed of a room full of toys when you were a child but didn't have any, you're actually trying to make up for your past.

These things aren't important to you at all, but rather the feeling that you've succeeded in life and that you're no longer that insecure person. If you're still doing this, realize that and let your child go. Focus instead on the future, on building prosperity for yourself and potentially for your family. Start spending money on things and experiences you truly value.

Secondly, buying to conform to societal expectations and avoid negative opinions. When you're about to spend money on something, ask yourself: do you want to buy it to enjoy and use it, or so that others can see you have it? This question will help you distinguish between spending money wisely and foolishly. It will help you understand how often we spend money to conform to societal expectations or feel like we belong to a certain social group.

Money is supposed to be used to meet your needs or to give you pleasure. Yet, many people still behave as if they were in high school, still striving to be one of the cool girls or boys. There's a huge financial and mental difference between getting your nails done or building muscles for yourself versus for others, because sometimes we can spend a lot of money and dedicate a lot of time just to fit in. Life becomes more beautiful and your wallet fuller when you start choosing expenses that are truly important only to you.