All individuals have habits! A habit is defined as a recurrent, often subconscious pattern of behavior that’s obtained through frequent repetition. To put it simply, it’s repeatedly performing the very same things over and over without thinking about it, like nail biting or snacking on food. Over spending our money can also fall into that subconscious pattern of behavior. If we’re going to get away from living paycheck to paycheck, the very first thing we have to do is analyze ourselves. Just like a doctor would look at an X-ray to be able to find things that aren’t visible from the outside, we also have to take a psychological X-ray of our mind and our ideas to examine and diagnose the root of our bad money habits. It’s only until we do that, that we’ll be able to have self control when it comes to our finances.
Believe it or not, much of our money habits are affected by outside influences, like the media, television, radio, newspapers, magazines, etc. Each year, companies spend billions of dollars in advertising and marketing, all for the sake of getting us to spend our money to buy their latest and greatest product or service right NOW! By continuing to be influenced this way, we subconsciously form and create bad financial habits. Even friends, family, co-workers and the general public may have an influence over us based on our perception of having to “keep up with the Jones’”. This is where it is so important to recognize and practice self control with regards to our finances. We need to begin to develop a habit of restraining our own thoughts. Pay attention to the way others attempt to convince us about what we need or want. If it’s something we need, we have to ask ourselves…do we really need it now?! If it’s something we want…do we have the money set aside to get it now or will we have to save up before we buy it?!
Habits are hard to break, but if we really want more out of life, the first thing we have do is make a change and the change starts within ourselves with what and how we think about spending our money. At first it will take a much more conscious effort to have self control by catching and examining our thoughts before making a purchase. But with consistent practice and application of our thought and actions, self control will become easier as we find ourselves forming new habits. It’s that practice and application of examining our thoughts and asking ourselves about what we really need and want that will set us up for financial success. That’s the power of self control! And regardless of what is going on around us, we ALL have that power within us. It’s our choice IF and HOW we want to use it!
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