When the new year comes around you will want to save and make more money to fund your ultimate life. One way to do this is to change a few bad money habits that have to do with convenience. You’re probably set in your old ways but if you make a few small changes in your money behavior you’ll save bazillions!
Remember that every money habit should contribute to your ultimate financial reality, towards your true goals based on financial security, freedom to travel, or the achievement of a dividend paying retirement!
Here are some tricks of the trade to change your money belief system to influence your money actions to make a new money behaviour. Remember:
Beliefs = Actions = Behaviors
Things to Change:
1. Use cash instead of debit or credit cards: With the world moving towards a plastic future be the Lone Star and use cash. It’ll keep you on budget and put a ceiling on your weekly spending. It will also save you credit card fees and interest, ATM fees, and debit card fees for excess transactions. Add up all of that and be happy you’re a shiny star.
2. Go to the dollar store: It might smell like barf in parts but you can save a fortune. Napkins, candies, envelopes, festive decorations, birthday cards, wrapping paper, coin wrappers, and batteries can all be bought at the dollar store for a steal. Swallow your pride for your money. And watch where you step.
3. Pack your lunch: You might feel like the poor kid at school all over again, but it will save you $50 or more a week – $2,400 a year! Isn’t it worth it to cut out just a few lunches and bank that money? $2,400 is a trip to somewhere awesome! It’s worth it.
4. Walk an extra block to your ATM: You might feel like a dweeb on a date having to go an extra few blocks to use your own bank machine to save the $3 or more fee, but shouldn’t your date respect you for your mad money skills? (Or you could go to the bank before your date.) The $156 a year you’d save a year by not paying that $3 each week will let you get another date and pay for dinner!
5. Watch a business channel once a week. It will do you good to get a few stock tips, info on top dividend paying companies, what is happening with oil, or where the analysts see the market going. You’ll have six more nights off to gleek-out.
Add up all of those savings and anchor yourself to what that money would really give you. An amazing trip with your family? Security in the form of a nest egg? Money wisdom with a solid dividend portfolio? Changing these simple money habits will create behaviors that will truly pay.
Love your money and it’ll love you back with true benefits,
Dave
