Maintaining a healthy financial lifestyle is crucial in so many ways. If we lose sight of this fact, our negative financial habits can effect our relationships and our health. Listed below are a few clues that our financial habits are having an adverse effect on our lifestyle.
You’re not keeping track
Not paying attention to how much you spend is akin to committing financial suicide. Too many times we get lost in all the everyday distractions that life throws our way that we forget to just sit down and balance everything out. Thankfully, there’s a few mobile apps such as Expenditure, Mint, and Moneywise that make it easier for us to keep track of our expenses. Coming to the realization that we need to pay attention to our expenses is the first step toward achieving a healthy financial lifestyle.
You’re not feeding the pig
Saving is a key component to a healthy financial life, but with all the pressures to consume, consume, consume, this is an often over-looked discipline. We and our families must come first when it comes to our finances, preferably before we have a chance to spend, such as an IRA that deducts a percentage of our salary before it’s taxed and handed to us. If that is not an option, for whatever reason, disciplining ourselves to set aside some money for a rainy day can seem difficult. But it needs to be done.
Flatlining your impulse
We’ve all been to the mall or hardware store and seen that product we feel we absolutely need, the one that we couldn’t possibly live without. Well guess what, we can! The next time you experience that feeling of shoppers impulse, quickly flatline it. Ask yourself, “Is this something I need?”, or “Is this something I couldn’t live without?”, and it will be clear that one, you don’t!, and two, you can! Think about how it’s going to effect your savings and your plans for the future.