More Money or Better Habits?
Of course, our first thought is “more money.” But, have you considered the latter? Did you know that close to seventy-eight percent of full-time workers have said that they live pay check to pay check? Or that nearly ten percent of those making $100,000 or more have admitted to struggling to make ends meet? It doesn’t take a rocket scientist to realize that there’s a problem, and income just may not be it (all the time.).
As many of us started our careers, we envisioned ourselves making more money and becoming more “well off.” We never considered, however, exactly how stability is obtained and maintained. The key difference between the wealthy and the poor is habits.
Think about it, if you are living off ninety-five percent of your $30,000 per/year salary because of your “shopping obsession”, what makes you think circumstances would change if you started making $60,000 per/year instead? Yup, you said it: it won’t. Chances are, you’d end up spending more money on shopping and consequently, still live pay check to check.
[ Yes, there are situations in where living pay check to pay check is understandable and at times unavoidable. But even under those circumstances, there are small ways to eventually change your situation with patience and persistence. ]
One cannot successfully reach and/or maintain financial well-being with poor habits.
It takes accountability, self-love (YES self-love), and discipline. (In short) You must:
Understand that you need to become more financially literate, change your habits/decisions regarding your spending and lifestyle (habits), and plan in order to achieve your financial goals (like paying off debt, saving, investing, etc.). Accountability.
Choose to put yourself and over all well being first. In many cases, people who have higher self-esteem tend to be more financially responsible. You must believe that you can and deserve to achieve financial stability. Self Worth.
Retain the information you received from an advisor/research, make a financial plan, and stick to it. You may even need/want to have an accountability partner that will check you when you start veering off the plan. Discipline.
The basics are fairly simple, but—It takes work.
In 2019, if you’re not already, get your shit in order. You can’t be a bad bitch with bad credit and poor money habits. They say it takes 21 days to form a habit. SOOOO! Start today!