Most of us have been there. Plain and simple BROKE. Questioning where your next meal will come from or doing quick math in your head trying to figure out how much gas you can afford at the moment. You are not alone if this sounds familiar.
Recently, I lived in Boston with the hourly pay of an intern. While I was fortunate enough to be secure in my shelter and food, it was rough. I was penny-pinching, staying in all the time and never treated myself to anything. Knowing this feeling, however, enabled me to be able to understand how to not return to the same situation. Practicing these habits has helped me begin my debt-free journey and are the habits I plan to continue through life to get and keep financial peace and security.
Disclosure: I have placed some affiliate links below that I may receive commissions for purchases made through links in this post. Keep in mind, however, these are all my personal recommendations that I stand by. I would not bring them to you if I did not believe in each item.
Darcilou.com is a participant in the Amazon Services LLC Associates Program and other, affiliate advertising programs designed to provide a means for us to earn advertising fees by linking to Amazon.com.
Here are 11 habits of people who always have money:
1. They Budget
You might think you are able to budget in your head. You conveniently forget about that lunch trip with your coworkers, that extra snack you bought at the store and that the dozens of other extra small purchases you made last month. Once you start to keep a budget you will get a better understanding of where your money is actually going. You might be surprised at what you find.
2. They set Goals
Setting goals for your finances, career and personal life helps you keep motivated and moving towards something tangible.
3. They Never stop learning
Life is just one long class. Never stop striving to learn more. Stay curious and you never know where that will take you!
4. Including learning about money
This includes furthering your education about finances. I personally use all of the resources and books provided by Dave Ramsey and his company. There are endless books, blogs and podcasts on personal finance. Never. Stop. Learning.
5. They set Priorities
Knowing your priorities is key. Once you set your goals, you should have a better understanding of what your priorities are. Is that new car to impress your friends a priority or is having financial peace for you and your family?
6. They don't take out debt
You will never have wealth or financial stability if you keep taking out debt. This includes credit cards, personal loans, and car loans. Save up, use cash.
7. They Don't try to keep up with the Joneses
The reality is.. there will always be someone with more money, better stuff and seems what is like a better life. Having nice stuff and LOOKING RICH is not the same as having financial peace. Just because all of your friends have top of the line designer clothes and brand new cars every other year does not mean they are stable with money.
8. They Practice gratitude
Be thankful for what you have. Who you are surrounded by. Sometime it might feel like we need more stuff but we really just need to be more thankful for what we have now. Chances are if you looked around you are safe, have a roof over your head and food to eat. So be thankful for the basic things before going on another shopping spree.
9. They Have a long term mindset
While instant gratification is good.. meeting long term goals and having long term security is more important. You can shop til' you drop now, but how will that affect your future later on?
10. They Never stop searching for inspiration/motivation
Listening to podcasts, reading books, going on a road trip.. they can all be sources of inspirations, mindset shifts, and new adventures!
11. They have different types of accounts
One of the best financial tips I follow is having different accounts for Emergencies, Savings, Fun spending, and Bills. This makes it harder to spend the money you shouldn't be. This will also keep your budget on track!