To me, a habit is “an urge”, a strong desire or impulse. It could be a positive or a negative urge.
But, for this, I will confine myself to negative habits only, especially habits related to money or personal finance.
First, Fact number one. You and I get broke, financially. That’s an undisputed reality. Getting broke occasionally is part of this journey called life. However, persistently getting broke isn’t normal.
Second, Fact number two. You aren’t sick. If you were, your financial misbehavior could be described as an “acute severe syndrome”. But since you aren’t sick, I will say that you have a negative impulse towards money.
Note: I’m not being judgmental here, I am merely describing a fictitious situation or a scenario that could be real or not. So, DO NOT personalize it
Here is why It’s not normal. Entertaining a habit that is hurting your pocket isn’t normal. Look here, if there’s one thing rich fear the most is brokenness. Rich only attracts habits that upscale their businesses.
They know being broke is being stressed, frustrated, desperate, and confused.
But why? Because money can be a complicated and intimidating subject to discuss. Everyone wants it they can’t talk about it in public. The topic of money is likened to the topic of sex. Everyone wants and does it can’t talk about it or even mention it, isn’t this funny?
Habits keep you broke, financially
Bleeding your money. Yes, pissing your money off. Isn’t it a bad habit? You’ll agree with me it is bad. Money is a currency it has energy in it. Mastery in burning your hard-earned money unwanted behavior its consequences is loneliness, and depression.
Eating and drinking outside of your home. Enjoying a meal once in a while at your joint isn’t bad. It’s a good treat and rewarding oneself. However, frequently eating and drinking at restaurants Monday to Monday is burning your money. Eating and drinking at a hotel take money out of your pocket and it amounts to bad financial management.
Operating without a budget. A budget is simply a planning tool. So, operating without a budget is a habit. Budgeting is a habit successful or rich people lived by. They budget their expense because budgeting is good practice.
Borrowing money for leisure. Debts enslave people especially when it is taken for leisure, not for investment. And most people borrow money to buy cloth, food, car, or leisure things. I know of someone who bought money to buy a car and ended up a depressed man. Why? He borrowed money to buy liability and not an asset. What was the result of depression? A petty habit that keeps you broke financially, broke, stressed, and emotionally depressed.
Living paycheck to paycheck. Being employed is good, but it shouldn’t be your alpha and omega. If you are relying solely on your paycheck, trust me your nursing is a petty habit that will keep you poor and broke always.
Poor recording keeping– rich people track their expenses on a daily or monthly basis. Poor don’t and that’s why they are constantly broke financially and asking for loans or salary advances. Why? Because they are masters of petty habits keep them in a compromising situation.
Way forward
Embrace habits that successful people lived by but devour by average people.
One — Goal settings
Two — Reading books
Three— Eating healthy
Four— Living healthy,
Five—- Live within their means
And remember, this always. It’s a natural law to produce first before you eat or you must sow or plant a seed before you harvest.
