Money. You love it. You hate it. You need it. You spend it. You save it. It grows, it shrinks, it flows, it spreads. Money can give you the choice to live how you choose, and it can take that choice away. Why do we put up with all of this craziness from money? We all have our reasons, but whatever yours is, it’s time to be done. The madness stops here. Take your control back! Money doesn’t own you, so stop acting like it does.
This may be harsh, but you know the excuses for struggling aren’t serving you. Let’s take control and make a change rather than continuing to feel like a victim. Whatever your circumstances are, I challenge you to take responsibility in your part, in your decisions, that brought you to this moment in time. Take ownership of your choices (good or bad), find the lesson, learn and do better from today forward.
How can you do that? I know habits are hard to break, I know nothing will change much over night. But, the beauty of compounding doesn’t only apply to your interest payments, it also applies to your daily habits. By making small changes every day, your world will begin to change before you know it.
Habit #1 to start today?
This is the simplest (not the easiest) and by far the most helpful habit you can form to improve your financial life.
Actually look at your bank account every day. Every day. Be proactive with your bills. Call to question or ask for a reduction on your medical bills. Know what you are paying in interest on loans and ask about refinancing options.
Your bank or credit union will have online account access, and most will have an app for your phone, use it! If you have accounts across several banks, try a 3rd party tracking site, like Mint.com. Easy and secure to set up, then 5 minutes a day to know what your money is doing.
By simply being aware & paying attention to your money, you are showing respect and taking control of it. Do this habit every day, watch your stress level decrease and your net worth increase. Simple!
Respect your future self and get to know your money!