Posted by The habits you have, with money, are actually trying to help you.
No money habit is intrinsically ‘bad’. However you may be reading this because you want to change or improve a money habit that no longer serves you.
- Have you tried to spend less, save more, you want to invest but …
- Do you turn down money, be it gifted or through promotion?
- Are bills ignored and left the letters unopened?
- Have you tried to stop doing it but not succeeded?
How Money Smart are You?
Exploring your Money Habit
Our money beliefs stem from our thoughts, emotions and past experiences and the habit’s come from those beliefs.
They aren’t trying to undermine you they are actually trying to serve you. In one way or other they are helping us. They serve a purpose.
They are our way of responding to stay safe, be part of a group, stay in a comfort zone or reward or distract us from something more uncomfortable.
Understanding how your own money habits are helping helping you is a key component to clearing and changing them for good.
5 Steps to Understanding your Money Habits
Step 1. Identify your money habit. Pick anyone that you want to change for example Can’t save. Emotional spending.
Step 2. List all the good things you get from that habit. For example you get to buy things, stay in control, feel safe.
Step 3. Flip it. List all the ways and areas that habit it isn’t helping.
Step 4. Compare the lists. Ask yourself which help you want most.
Step 5. Become aware of the memories and feelings you have in and around that habit. For example next time you feel you are about to overspend take a pause and see how you’re feeling, what triggered the action?
Or watch the 3 part video of that exercise here
Need help successfully changing your Money Habits?