Changing Your Financial Behavior

By: Francis Hosein

To move to a new financial behavior ask of you to welcome new changes to your life.

Building a new security can be fearful when you are not accustoming to this new financial behavior.

Breaking patterns

Breaking financial pattern may not always be easy when you grow up doing the same thing although you know you are not getting the results you want.

Think about the things in your life such as buckling up in the car, stop eating junk, or stop smoking these are habits that although you hear, read and are told about it you find it difficult to change.

Seeing is believing

a) Taking the time to write down each day what you spend and for what.

b) The bills you pay each week.

c) Did you pay cash, debit or credit card?

Seeing what you spend each day and your bills on a chart can be an eye opener for you on how you spend your money.

What is your goal

If you do not have a goal like going on a vacation, paying your medical bills, buying a house or paying of your debts you will have less motivation to change your spending habits.

Your beliefs

Your beliefs about money may be stopping you from changing your financial behavior beliefs such as;

a) Money is bad.

b) Money is the root of all evil.

c) If you have more money you will abuse others.

As you examine your beliefs you may find more beliefs that are holding you back from changing your financial behavior.

Your resistance and fears

Changing your habit to gain more financially may bring up some resistance within you to have a new behavior to the things you take for granted each day.

Stop using your credit card, hide it away only for emergency.

Stop using your debit card and start using cash like your grand parents

Notice how you feel, do you feel deprive, or shame, are you afraid of this new identity and how you will act with others.

If you create a new sense of security with money will you feel trapped or it is a waste of time.

In creating a new behavior will it separate you from your friends and family?

Are you afraid your friends and family will feel you abandon them?

Taking charge

When you understand the resistance you carry with you from changing your financial behavior to one of success you are more in the place where you can take charge of what you want in your life to be.

New habit

As you release a habit you install a new good habit that is aligning with the new you.

You create new ways of behaving to get you what you want.

Conclusion: Changing your financial behavior will change your identity to you and how you act toward others.

Finance
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