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?!
Having More Money is About Controlling This…
We all have different habits, which include money habits. There are good money habits and bad money habits. Just like any habit, bad money habits are hard to break, but if you really want more out of life, the first thing you have do is make a change and the change starts within yourself with what and how you think about spending your money.
At first it will take a much more conscious effort to exercise self-control by catching and examining your thoughts before making a purchase. Are you making the purchase because you just want to have it or do you really need it? Or does spending money just make you feel good? Analyzing the thoughts behind your spending is the first step to developing new money habits.
“Money, like emotions, is something you must control to keep your life on the right track.” – Natasha Munson
With consistent practice and application of your thoughts and actions, self-control will become easier as you find yourself forming those new habits. When it comes to spending and saving money, self-control is vital. It’s that practice and application of examining your thoughts and asking yourself about what you really need and want that will set you up for financial success.
That’s the power of having self-control when dealing with your finances! And regardless of what is going on around you that power is within you ready to be used. It’s your choice IF and HOW you want to use it! Having self-control is the basis for any type of success and when it comes to your spending habits, you won’t achieve financial freedom without it.
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