Just this last week we posted an article that showcased some surprisingly responsible spending and saving habits of college students. It got us thinking about just how important it is to identify good financial habits and pinpoint exactly what is helping you move towards your financial goals. Once you know what’s working, you can use the information to go about tweaking other habits that could use some improvement. It’s kind of like creating a good habit template:
- To strengthen or change a habit you have to first clearly define what constitutes a good habit.
- From there, you can begin to deconstruct the patterns and utilize the actions and the cues that have allowed you to excel in that particular area.
- Finally, you can use that info and apply it to other areas in order to reroute old habits or create new ones.
We rounded up some great reads to get you started in defining (and re-hauling) your financial habits:
Why the Process Is The Most Crucial Aspect of Achievement – Lifehacker
The end result often takes precedence over the journey but you’re doing yourself a disservice if you forget to focus on what leads you to success. When you take time to breakdown the process of achieving a goal you can pinpoint skills that will help you replicate success. Here’s a thoughtful perspective via Lifehacker.
The More You Save the Less You Want – Life and My Finances
Getting into the habit of spending can make swiping your credit card a pretty easy thing to do. But using the same premise of routine, you can effectively create saving habits that become your norm. Read on for some great perspective on how to rewire your thinking to motivate your saving habits!
I Used to Think I Need… – Well Heeled Blog
A great list of “used to need” stuff that offers great insight into how our spending stance changes over time. I used to think I needed a kombucha everyday… until I tallied up the monthly cost. Just goes to show you, habits you think you need aren’t always as permanent as you might think!
Frugality As a Habit – The New York Budget
All frugality isn’t measured equally. What’s frugal to one person is simply common sense to another. A great perspective piece to help you understand the difference between frugal habits that can help you to secure your finances, and frugality as it’s become stigmatized.
Day 8 – Break An Expensive Habit – Stop Worrying About Money
I’m loving this 31 day series which is chock-full of solid financial info and tips to help you regain control of your finances. This post in particular is a great guide on how to break the habits that are costing you money!
When Is Lifestyle Inflation OK? – Frugal Rules
Lifestyle inflation is usually targeted as one of first spending habits to drop. But if you continue to earn more, can there an argument for upgrading your lifestyle in accordance? Read on to find out!
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Have a happy (and good financial habit building) weekend!
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