Are Your Habits Stalling Your Financial Development?

When it comes to personal finance…

Does it seem like you’re spinning your wheels and going nowhere?

Then you gotta look at what the root cause is.

When you discover this, it’ll be a shortcut to get more done on autopilot.

Here’s the secret:

It’s your habits.

Unfortunately, most people’s habits are working against them. You may have habits, whether you realize it or not, that make it nearly impossible to get out of debt. Fortunately, you can swap those habits out that set you up for success on autopilot.

A habit is something you do that doesn’t take any thought or energy on your part. So imagine having something that powerful working for you. Read on to find out how you can do just that.

1. Start with the What

Your first step is to identify your habits.

Because habits are unconscious, most people aren’t even aware of their habits.

So take some time to notice your regular habits and then write them down.

Then, you can ask yourself if any of those habits are slowing you down from achieving your personal finance goals.

Let’s say someone wanted to lose weight. Then, when they look at their habits, they notice tend to snack on unhealthy foods while watching TV.

The problem isn’t watching TV. The habit that’s hurting them is unhealthy snacking while watching TV.

Label which habits help you, which habits sabotage you, and which habits are neutral.

2. Replace those self-sabotaging habits on paper first

After you’ve identified which habits are keeping you from success, you can replace them.

You see, you don’t “get rid” of bad habits. Rather, you swap out the bad habits for better ones. So make a list of the new habits that will take the place of the old, self-sabotaging habits.

In the example above, you could write down that you will grab a healthy snack every time you sit down to watch TV.

3. Give yourself time

There’s a common adage that it takes 21 days to form a habit.

Then somehow, on day 22, you could wake up cured of your old ways and excited to maintain your new-found routine.

However, some habits can take longer to stick. Even up to 60 days or beyond.

Fortunately, two months is not long when you consider the impact great habits will have over your lifetime.

Remember, your success with personal finance will be virtually guaranteed when you have the right habits.

Gregory Ware, CFP®

P.S. Find us online at www.FinanceswithGreg.com and discover more ways you can experience greater success with personal finance!