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.
All that you have mentioned is very correct and I most commend you for that, you took your time to study life and how to really use our finances effectively, however this last one you mentioned will only happen to rich or wealthy people not average people, if an average person spends money just to eat in a restaurant just because he or she wants to try there food is a very big financial mistake because you are only wasting money, someone will be married and average man still trying to put things together and you will be going out to spend money on big restaurant just because you want to try there food knowing fully well that the food is very expensive, why not cook such food in the house and eat it with your family to safe cost.
An average person can go broke at anytime yes, there are some emergency that will eat up your emergency, reserve and float funds and make you broke and that is why as an average man you need to chanel that money you want to use for luxury life to your investment and become wealthy first before thinking about luxury life.