Canadian personal finance author David Chilton is releasing an updated version of his 1989 best-seller The Wealthy Barber –The Wealthy Barber Returns – this fall.

In it, he repeats his golden rule: save more by paying yourself first.

But, two decades later, he says another message needs emphasizing: spend less.

It’s not enough to pay yourself first if you’re also jumping to take on lines of credit that banks are pushing, he says.

It’s a bank’s job to try and get you to take on a line of credit and it’s the government’s job to keep you spending ­– but neither of those two things is going to help you retire with money.