You are on point my friend, who cares about what people call me, I live my life the best way I know possible that will be void of any faults or excuses. These people will be the ones that will help you squander the money if care is not taken and will still turn their backs on you and still paint you badly behind your back when the money is no more. They will keep a close distance when it is rosy and you will be almost alone, if not all alone when there is nothing anymore. Many had been affected by this in the past and some people have tested friends in this regard despite just pretending to be poor, but most of the friends failed. So it is better we are wise and smart, it is our money, our lives and our future, and we should plan very well for it, human beings can betray.

This is not about being stingy or not, and not that you will still not dole out money but this must be done sensibly. Like your advice, there should be good portions of the money we make for special purposes. Some could be for retirement savings plans, others could be for investment/business, physical projects that can be called our assets, while the last set may be for what we spend. By this, we do not leave our lives for chance, otherwise, people might feel sorry for the person. I can point to many of them today who are now former rich people due to a lack of smartness and proper planning.