Mindset & Psychology Personal Finances

Three “Bad Habits” That are Actually GOOD (for Our WALLET)

Let’s look at things that are familiar to us from a different angle — in order to get a different result.

We go to work every day to earn money.

But, alas, we don’t have any more money from this.

They constantly “disappear” from our wallet somewhere without a trace.

This means that we should “reconfigure” our finances in a new way — in order to get a different (more significant) financial result.

Below are three examples of how each of us can do this.

So, meet Three “bad habits” that are actually good (for our wallet):

1) Our money is always limited

People buy themselves those things (and allow themselves the expenses) that in their minds the person they want to be like should buy.

I immediately remember Descartes’ quote:

“I buy, therefore I exist!”

Although he said it a little differently, the meaning doesn’t change much.

New Financial Habit #1:

If we want to afford something “delicious” or “the most important,” then we must cut down on those expenses that are not a priority.

That is why it is recommended — “Buy Assets First” or another version:

“First of all, pay yourself 10% of every income you receive.”

Only in this case will we begin to have free money, which over time will “turn” into a nest egg and profitable investments.

2) We can’t work 168 hours a week

At best, we can (effectively) work 40-60 hours a week.

After all, we are not robots!

Our attention and strength are limited by physiological capabilities.

Therefore, the longer we work, the less productive we become.

New Financial Habit #2:

Try working less, but doing it with higher productivity.

What will become possible when we begin to delegate or outsource some of our responsibilities (and business processes).

Reserving the most important (and well-paid) tasks for yourself.

3) Do more by doing less

If we are not weak sometimes, we will go crazy (because we will become mentally and physically exhausted).

It has long been observed that we become more productive when we focus on fewer tasks.

And therefore: 

New financial habit No. 3:

We cut off the excess, leaving the most necessary/important.

For this:

(1) Identify 3 areas of your life in which you want to make significant progress.

In relation to our finances, this could alternatively be: salary growth, save up a nest egg, start investing.

(2) Describe the “ideal state” for each selected area.

For example, save up a nest egg of $5,000.

Increase your salary by 20% per year.

(3) Choose one clear goal for each task.

For example, save $100 from each salary.

Look for interesting vacancies and undergo 3 interviews every month.

By CashGuy

Online Money Maker

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