Your Money Habits Are Holding You Back

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Money Habits Are Holding You Back

Financial success does not come easy, you can say it as many times you want, but without the actions, nothing will change. People tend to handle money in different ways.

Actions, tell the real story.

Are you on the road to financial success, or are you still hanging on to one or two of these tell-tale financial disaster behaviours?

Here’s how you can tell:

Do You Pay Full Price for Everything?

After all, you’ve got plenty of extra money. It’s fun to see something you want and buy it right away. You have to be a little more strategic to save.

Develop a habit of taking 24 hours to comparison shop before you buy. Consistent savings on both big items — and things you buy regularly — can add up to hundreds, even thousands over a year.

Not Thinking About Retirement.

You’re living for the now, not for the later. When you put money away for retirement, you are saving for a “future you”. That “you” is going to want to enjoy life as much as the current you. As you work toward finding a balance between now and later put as much as you reasonably can into your retirement accounts. I promise you no one gets to the future and thinks, “Oh my, we saved too much.”

You Keep Doing Business with the Same People.

Entrepreneurs!  No matter what. You have to separate business decisions from friendships. That means periodically revisiting your professional relationships as far as insurance agents, financial advisors, accountants, or attorneys. Did you hire the person thoughtfully and objectively, or simply because you knew them?

Once in a while, you’ll want to take a step back and re-assess your business relationships.

You Don’t Ever Say, That’s Not in My Budget This Month.

You’ve got an image to uphold. It is so refreshing to hear people reply to a social request with something genuine like, “I have other priorities for my money this month.” Choose how to spend your money based on your values. When a decision doesn’t fit, recognise that — and acknowledge it with a statement that reflects what is important to you.

You Set No Goals.

You want to be in the same place next year as you are right now. Imagine yourself one year from now. What would you like to have accomplished? Do you want the same amount of money in the bank or more? Write down where you want to be. Then write down the action steps you’ll need to take to get there. Now, schedule dedicated time on your calendar to do these tasks. Do this consistently, and financial success will be yours.

Securing a solid financial future takes good money habits and lots of self discipline. You can achieve your goals once you take consistent action and pay attention to what’s happening in the world of finance.


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