If you buy a treadmill and just decide to make at least 15 minutes of running everyday, do you know that your decision to doing this for the whole year is just going to happen for a few days only? Do you know that when you just “decide” to reduce your spending or to save money, that mere decision will likely not going to happen?
I remember hearing from one of my respected mentors that almost everything that we do everyday aren’t really decisions but rather habits that we ourselves have brought into being along the way. And that includes our “automatic” money habits which are actually one of the main reasons why many people’s pockets get seriously damaged.
One example of this is when you drop by a fastfood restaurant on your way home and order anything that you don’t even like just because you want to bring something to your family members. And even if your loved ones don’t eat them anymore (nagsawa na), you still bring the same value meals and leave them to rot on your dining table.
You know that these “habits” do affect your budget and your paycheck but sometimes you have to acknowledge that they really are difficult to stop. But you have to realize that with faith, nothing is impossible.
Here are some steps that will serve as a refresher in planning for your set of actions so you can change your bad money habits into a rich man’s way of saving.
1) Identify what triggers your bad money habits.
Is it because of pakikisama with classmates or officemates that you tend to go the mall after work or school to shake off being #StressDrilon? Or is it the inggit factor whenever your bestfriend orders the Chowking lauriat when all you can really afford is just lugaw? If you identify what’s causing your bad money habit then you can definitely have more control over your urge to overspend.
“..assuming that you have heard about him and were taught in him, as the truth is in Jesus, to put off your old self, which belongs to your former manner of life and is corrupt through deceitful desires, and to be renewed in the spirit of your minds, and to put on the new self, created after the likeness of God in true righteousness and holiness.” -Ephesians 4:21-24
2) Know your real rewards
After identifying the reasons of your bad spending habit, you shoud then identify a “substitute” habit to break the ice. So instead of going straight to the mall after office, why not drop by the church and have a great conversation with God?
One important point that I always remind my clients and friends to avoid any bad money habit is to focus on their long-term financial goals and rewards. It’s important to have that “vision board” or “vision note” on hand to serve as a reminder that small spendings can snatch away your dreams or rewards and lengthens the waiting time before achieving those financial goals.
“For which one of you, when he wants to build a tower, does not first sit down and calculate the cost to see if he has enough to complete it? Otherwise, when he has laid a foundation and is not able to finish, all who observe it begin to ridicule him, saying, ‘This man began to build and was not able to finish.” -Luke 14:28-30
3) Create your new routine
When you finally realize the reasons and found the focus to achieve your financial goals and rewards, write down straightforward and clear instructions on what you should do whenever you find your yourself desiring to spend on wants and unnecessary items.
Be concrete and specific. Instead of just saying “I want to do this…”, focus on “I will do this..” and commit yourself to doing it in baby steps on periodic basis.
If you start this way, you’ll soon realize that you can actually apply those good habits on an everyday basis.
“In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.” – Proverbs 21:20
Here’s an infographic that will help you start changing your bad behavior towards money.
(This chart is based on the work and research of behavior change expert Charles Duhigg, as well as the input of Certified Financial Planners™ at LearnVest Planning Services.)
Rock your way to abundance!
#moneyliferocknroll
—
If you want me to coach you in improving your finances, type your name and email below and click the Subscribe button:
I think what you said in this blog post are all realistic. I should follow these in order for me to reach my goals quickly. I’m glad I found your blog and I will be a regular reader as well. Thank you! 🙂