5. Luxury. When I mean luxury, I do not actually mean it has to be expensive. But I say luxury because there are things that we do not need but still want to have or experience like traveling or eating at a good restaurant. I believe that even though we should be smart in finances this does not mean we have to completely deprive ourselves of enjoyment.
I don't know why you added luxury to the five thing we ought to spend money on because I don't see any reason for luxury since the money that should be spent on luxury can be use as emergency fund. In as much as we can still get the same quality without buying brand name all in the name of luxury then their is no need for allocating another extra fund for luxury.
We should be more interested in growing more businesses to secure a consistent means of generating profits on a daily basis without spending too much on unnecessary things we can always avoid that will bring no adverse effect.