Habits are seemingly small things, but they have great force in guiding our lives toward success or failure.
The dictionary defines a habit as an acquired behavior pattern regularly followed until it has become almost involuntary. Financial habits can be our greatest ally or our worst enemy. Good habits are small things that, done regularly, will yield positive results. If you save ten percent of every paycheck, although it seems like a small amount, it will accumulate into a small fortune over time.
As the late, great business philosopher Jim Rohn used to say, “Small disciplines are easy to do, but they are also easy not to do.” Disaster doesn’t strike with the first paycheck that you decide to spend, instead of saving some of your money; but you’ve got to be smarter than that. You succeed, and fail, by small degrees every day with your money.
If you can harness the positive power of habit with your money, you’re almost certain to be financially healthy. Training your money habits is much like building muscle in the gym — you start small and work your way up to more difficult exercises, day after day. Experts agree that it takes at least 21 days of discipline to convert a new behavior into a habit. Work on one good money habit at a time so you don’t become overwhelmed. Wealthy people are wealthy because they have accumulated good money habits — staying out of debt, saving regularly and investing.
Please remember, there is no magic genie that will grant you riches. If someone tells you there is, run as fast as you can in the other direction. Most financial messes aren’t made overnight, and they won’t be cleaned up overnight either. Decide today to commit yourself to positive money habits, and watch them accumulate over time into financial peace of mind.
For more on building healthy habits, I highly recommend reading or listening to Charles Duhigg’s book, “The Power of Habit.”
Christine Luken is the Financial Lifeguard and a veteran Meal Planner. She helps individuals, families, and entrepreneurs design a financial road map to help them arrive at their Preferred Financial Destination. You can find Christine’s blogs, podcasts, and videos on her Financial Lifeguard website .