Your life is largely a reflection of your habits. It only stands to reason that if you improve your money habits, your financial situation will improve as well.
[dropcap]O[/dropcap]nce you are in the habit of making good money decisions and you start to see the fruits of your labor, the money habit you have just created will want to reinforce itself.
As an example, if I get into the money habit of saving $100 a week, and after 52 weeks I’ve accumulated $5,200 for that year, that new money habit I created more than a year ago yields the necessary evidence I need to continue moving forward.
Follow the strategy below to enjoy the rewards of more positive money habits in 30 days.
1. Choose two money habits to improve.
• Think about where you have the greatest challenge.
• Is it keeping track of your investments?
• Is it paying your bills on time?
2.  Come up with a plan.
• Determine a new habit that will support your money goals.
• What sort of schedule would you have to keep?
• What new behaviors would you have to exhibit?
3. Follow the plan.
• Try to design an element of your plan to do on a daily basis; this makes it much easier to stay on track.
4. Reevaluate at the end of the month.
• How did it go?
• How could your plan be improved?
• Make the necessary adjustments and do it all over again.
New habits can take a little time to ingrain. When I’m talking to clients about making new money habits, the biggest challenge I find is they have bad money habits of not accounting for money they’ve spent throughout the month; and they have nothing to show for the money the spent (eating it, frivolous expenditures, etc.). Help solidify your new money habits with some mental motivation: think about how great you feel with your new habits and compare those feelings to your old feelings when using your old habits. Which feelings will you naturally try to maintain?
Daily attention and frequent evaluations to adjust your plan as you need to will get you to a good place in a hurry. Typically I find that my high income, high net worth clients have this issue. The more money they make, the worse their money habits are because they know they can make a lot more money at any time. This is not a money habit success formula! Your new habits will have a profound effect on your finances. Start today; don’t wait!
Regardless of your current income level, contact me today to request “10 Simple Money Habits For Profound Results” as part of your “Thank You” for enrolling in your free 30-minute consultation.
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