Admittedly, old habits can seem hard to break. This is because routine is comfortable and change is tends to feel very uncomfortable.
“The comfort zone is a behavioural state within which a person operates in an anxiety-neutral condition, using a limited set of behaviors to deliver a steady level of performance, usually without a sense of risk.”
A psychological space where things are simple, familiar, routine, and can require very little mental capability. The mental space of being in a comfort zone results in very little stress or anxiety, even if it means having bad habits. Some bad habits affect our physical health, like smoking, nail biting or eating too much junk food. But others take a toll on our financial health.
Comfort Zone Look for Patterns
Maybe you shop online when you’re bored or upset. Or you ignore your debt because it’s overwhelming. Maybe you tend to spend windfalls instead of using the money intentionally.
Relationships with money can be complex. Common problem areas include spending more money than you earn, neglecting to start an emergency fund and not saving for retirement or spending for immediate pleasure instead of saving for lasting well-being.
Emotions and experiences can have a major impact on our money habits. That’s why it’s also possible to develop unhealthy habits if you’re in good financial shape
RIGHT Comfort Zone RIGHT Comfort Zone
Set Financial Goals and Get out of your Comfort Zone
People who do not plan for how to manage their money and who lack a budget are vulnerable to impulse buying, overspending and making other unwise decisions. You may be earning a lot of money, but failure to plan will derail you from your set objectives.
Unwise spending may provide some immediate satisfaction, but that seldom lasts very long, and it certainly never helps you achieve financial goals. You have to learn to say no, avoid situations that will result in spending money you do not have, and, overall, start to use your money wisely. Setting a Spending Plan can put you on the path toward healthier habits.
A Spending Plan goes beyond budgeting to include the missing 3rd dimension that traditional budgets do not have. 1st dimension is Expenses, and 2nd is Income. The dimension that makes all the difference and included in a Spending Plan is TIMING or CASHFLOW of your income and expenses. A Spending Plan will teach you accountability and point out areas where you are deviating. It will also indicate your progress or performance.
There is no better investment you can make than to invest in yourself. That means spending money to learn more, to better your skills, and to improve your mental and physical health.
The more you do this, the more likely you’ll make better decisions to reach your goals.
Break this routine of bad habits, keep educating yourself and develop the best spending habits to reach your financial from goals from today.
Create a healthier financial comfort zone today!
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