Habits are the driving force of our lives. How we function and act in our day to day lives is by the habits we have created. It starts with a thought to do something, a desire for a change, some willpower, and consistency. Some habits we choose to take on, others are instinctive and we don't even know we have them.

It's not always easy to change your habits around money. But to achieve your goals, changes must happen.  Here are some new money habits that can propel you toward success.

1) Automate your finances

Make managing your money as easy as possible and make your financial plan run on auto-pilot. Set up auto payments for expenses and credit cards. Automatically move money into your savings and investments so you don't have to think about it. Have it easy for your customers to pay you so you don't have to wait for their payments. You will not have to spend time thinking about paying bills or worry about over-drafting your accounts. 

2. Come up with specific money goals

Know what you want and make a plan to get there.  If you have a goal of how much you want to make this year, break it down into monthly, and weekly goals.  Don't just look at your income either. Make goals on your spending too.  Create a Money Plan that outlines how your money goals will actually happen and compare it to your actual income and expenses each month so you can course correct.

3. Tell yourself you deserve to be wealthy

The wealthiest people believe that it is natural to be successful. They have the mindset that they are worthy of all they strive for. Know you are worth it, and you truly deserve to have everything you desire. Work on your money mindset and create habits each day to change the way you are thinking about money and wealth.s 

4. Spend 30 minutes a day reading

Rich people read. Continue to learn and invest in yourself. Read the Science of Getting Rich and Think and Grow Rich.  Join a business book club and have some accountability to study. Educate yourself on how to be successful, how to change your money mindset, and how to grow your business.

5. Set your alarm clock earlier

The other thing wealthy people do is get up early. Have time each morning before your workday starts to do the key things that will set you up for a successful day. Create a morning routine that includes reading, journaling, exercise, and/or meditation. Plan your day so your day does not plan you.

6. Surround yourself with successful people

Who you spend your time with matters; your net worth tends to mirror that of your closest friends. Exposure to people who are more successful than you and you inspire to is motivating. It will expand your thinking and will stretch you. We become like the people we are close to and winners attract winners. 

7. Track your money

Keep track of your money as it comes in and goes out. Set up bookkeeping systems for your business, and your personal, finances. Use apps to track on the go, and don't use cash loosely. Make sure you are earning more than you are spending. Do the math! 

8. Analyse your money

Each month review your numbers. Look at your income, your expenses, and how these match your goals you have set. Make adjustments where changes are needed. This will keep your head out of the sand and make sure you are living in reality.

9. Pay off debt and create ways to save

Take a hard look at your debt and create a plan to pay it off. Find ways to avoid using more debt and make sure you are analyzing your spending so you are not having more money going out than coming in. Create savings accounts at other banks than your main bank so it will be harder to take money out. Set up automatic payments to both your credit cards and into savings.

10. Watch your monthly subscriptions

It's easy to sign up for new streaming services or online tools for your business. But are you really using them all?  Keep a detailed list of each service so you can see what you are spending each month and review periodically to make sure all the services are needed. It's easy to forget that you're paying for Netflix when you really spend all your time watching Hulu. Cut out what you don't use, or downgrade if you are able, you can always add them back.

11. HIre the right team

Make sure you have the right professionals in your corner. Too busy with your business to keep up with your bookkeeping, then hire someone to do it. Make sure you have a CPA that is strategizing with your year-round on tax savings, not just at tax time when the year is over. Meet with a financial planner for investments, a lawyer to make sure your legal affairs are in order, and an insurance agent to walk you though covering your assets. 

Creating changes to your habits around money may not happen overnight, but creating shifts every day and setting goals and following through with actions will set you on your way to creating the wealth you desire and deserve!

To your Success,

Jenn
xoxo

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