Starting out on our life’s journey we don’t always think too much about money and retirement, or even just next month, or next year. We have money now, and we use it now. Retirement is too far in the future, anything after tomorrow seems too far in the future.
That non-thinking about money for the future might cause some serious problems later in life. Rather take a minute a day and just think about next year, the same date a year later, will you still be just where you are now, or would you like to be someplace other than this?
5 Tips to help you Change your Money Habits and Thought Processes:
- Make Time for a Money Minute Every Day: Somewhere during the day, take a minute each day to check your financial status, the transactions you made, and on what you spend your money. You can immediately identify where you might be going wrong, spending too much, and maybe spending on the wrong things.
- Work out a Budget: In this budget you should include everything that you need to pay and spend money on; your monthly payments, rent, electricity, transport, Internet, etc. and then also things like clothing, food, and luxuries, eating out, buying a book, go out for a movie, and more.
- Set up Financial Goals for Bigger Buys: Describe what you see yourself doing with your money. Use specific dates and numbers, not only words. Specify what you wanted to save, the amount in numbers, by which date, also numbers, or what you wanted to buy, when.
- Take a Specific Goal and make it your Money Spending Mantra: Before you spend money on an unplanned item, ask yourself the money spending mantra; is this purchase going to be better than the cruise ship next summer?
- Learn to Savour: This actually just means that you should appreciate what you have and to enjoy it to the fullest. Things do not make you happy. You do not need to buy things to be happy.
Banish toxic, negative thoughts about money. Find positive mantras. Value yourself, and get your body, mind and finances in shape. All of these are good life-habits which will not only help your health and life but also your finances.