Every year or so we spend perhaps a month going through some conscious belt-tightening. In my experience, one can only be ultra-careful about spending for a limited period (especially if one’s spouse isn’t entirely bought into the idea!). That helps establish some good habits.

Then in about a year we start the cycle over. I think the ‘dieting’ analogy still applies, but rather than financial bulimia we just slowly start growing a financial spare tire…