Goodbye Bad Habits, Hello Financial Success!

We are our own biggest obstacle when it comes to how we handle our money. It is not how much we make – which we would like to blame it on – but how we spend and invest the money we make. As a result, we need to get out of our own way when it comes to achieving the financial success we yearn for in life. Therefore, we need to remove the bad money habits we have in our daily routine, and start focusing on making better spending choices.

Refocus Your Idea of Spending

The problem is we feel – when it comes to money – we have to make a choice. We can indulge, or we can deprive. This does not work in money any more than it works in a diet. If all you do is eat anything you want, then the weight will just keep coming on. But, if you deprive yourself, you are going to be miserable, and, then, one day you are just going to explode and go crazy. Neither is good. There has to be a healthy balance.

Therefore, you need to set realistic goals for yourself. Say, you really enjoy grabbing a Starbucks on the way to work. That’s great, but it is also costly. Maybe cut back to treating yourself one or two days a week – not seven. It is unfair to say just cut out your coffee altogether. But, it is unfair to your budget to spend so much money at a coffee shop. Compromise with yourself. Enjoy your Starbucks two days a week, and, then, grab a cup of coffee at work or at home the remaining days.

You also need to try and start carrying more cash or using your debit card for spending instead of credit cards. It is way too easy to swipe nowadays. Before you know it, you are maxing out your cards! Cash and debit help you stay accountable. This will help you in making better decisions between what you want and what you need.

A checking and/or personal savings account can help you get back on the right financial track. Contact one of our friendly and knowledgeable associates today to learn more about our banking account options.