Believe it or not, much of your 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 you to spend your money to buy their latest and greatest product or service right NOW!

By continuing to be influenced this way, you subconsciously form and create bad financial habits. Even friends, family, co-workers and the general public may have an influence over you based on your perception of having to “keep up with the Jones’”. Trying to keep up with the perceived lifestyle of other people just to fit in or to make yourself feel better is a sure way to financial disaster.

“Money, like emotions, is something you must control to keep your life on the right track.” – Natasha Munson

This is where it is so important to recognize and practice self control with regards to your finances. You need to begin to develop the habit of restraining your own thoughts. Pay attention to the way others attempt to convince you about what you need or want. And just as importantly, you need to pay attention to how you try to convince yourself about your needs and wants.

If it’s something you need, you have to ask yourself…do you really need it now?! If it’s something you want…do you have the money set aside to get it now or will you have to save up before you can buy it?! Those are honest questions you’ll need to ask yourself even when the answers aren’t always easy to admit. But by answering honestly, you can develop the habits you need for financial success.

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