We all have some kind of goals with our money, and since we are getting close to New Year’s resolution season, it’s time to get clear with our financial goals and how to make them habits.
The problem that most people have once they set a goal is that they don’t follow through with it and actually fail almost right out of the gate. According to U.S. News, 80% of new years resolutions fail by February.
In this episode, Coach Jill has some great tips and strategies on how you can take you money goals and make them long-lasting habits.
Notes from the Episode:
- Don’t focus on a “goal”, instead focus on the person you want to become.
- Try to eliminate the biggest barrier of entry when trying to change a habit.
- Jill gave an example of a study where people went to the gym for 5 minutes (yes, only 5 minutes) every day for a month. The study found they were more likely to reach their goal of exercising more.
Some simple financial habits you can start today:
- Get in your budget spreadsheet and spend 2-5 minutes updating it every day for one month
- Use only cash to pay for daily spending
- Look at your budget with gratitude glasses. If an expense doesn’t shout gratitude, then get rid of it.
Want to learn more about goal setting and making habits? Here are a few resources to get you started:
- Rich Roll podcast: James Clear
- RELATED POST: Using visual cues to achieve your goals
- RELATED POST: 12 habits of financially successful people
- RELATED POST: Bad financial habits to break