Although you can’t just change your financial situation overnight, there are some small and easy habits which you can implement to make a huge difference over time.
Small but consistent steps will not necessarily make any noticeable difference in a few days or weeks, but over months and years the difference will be huge.
Here are some habits that you should get into right away! Perhaps you do some already but check them out anyway just to see if there’s something more you can do.
Habit 1: Use a Budget
Using a budget may seem restrictive or maybe just too much admin but the advantage of having a budget is just having less stress.
Think of it like this, at some point when you’re calm and thinking straight, you allocate your money and work out how you’ll make it through the month as well as save or pay off debt.
Then, when you’re out shopping and in the spur of the moment, you don’t have to wonder about whether you have the money or not.
You just quickly look at your budget.
And if you decide that you really want to get something that you haven’t allocated money for, that’s fine, but something else will be affected and you can easily make that decision.
Habit 2: Read More
Reading books and blogs about personal finances, wealth creation and investing will have a huge impact on your finances and your financial health.
With more knowledge you will almost certainly change how you do things or reconsider decisions made or simply make better decisions.
You’re never too old to learn and you will also never know everything.
Even the most accredited and qualified financial advisor needs to keep learning – for them it’s to keep up to date with changes to tax legislation or new investment products on offer.
You don’t necessarily need to keep up with such things, but never feel that you know enough or that it’s too complicated to learn.
If you enjoyed this article, please comment below, and remember to share with your friends.
Happy to discuss how the above applies to you and your business?
Read the final part of this series here.