Rewiring your Financial Habits
Sloan Wilkins
Online Financial Coaching to help you gain clarity, take control, and win with your money.
With the kids now back at school, university courses starting in late February, and training programs picking up at work, there’s a lot of learning going on. This time of year, it often feels like a fresh start, with new opportunities to grow, improve, and reset. It’s also the perfect time to rethink and rewire how we manage our finances.
Just like any learning process, making changes to your financial habits takes awareness, deliberate action, and patience. But the rewards – peace of mind, financial security, and a sense of control – are well worth the effort.
Awareness is the first step
When you start a new course or program, the first step is often understanding where you’re starting from. The same principle applies to your finances. Take a moment to review where your money is going each week. Are there patterns or habits that could be improved?
Whether it’s an app, a spreadsheet, or just pen and paper, writing down every expense for a week or two can be a real eye-opener. It’s not about judgment; it’s about building awareness so you can make informed decisions.
Reprogram your money mindset
Creating new wiring for ingrained financial habits involves reshaping how you think about money. Do you see money as a tool to build the life you want or as a source of stress? Shifting this mindset is key.
Start small. For example, if you’re tempted by impulse spending, try introducing a 24-hour rule, where you wait a day before making non-essential purchases. Often, the urge will pass, and you’ll find yourself saving that money for something more meaningful.
领英推荐
Celebrate progress, not perfection
Every learning journey has milestones, and so should your financial journey. Don’t wait until you’re completely debt-free or have reached a big savings goal to celebrate. Give yourself a pat on the back for the small wins along the way.
For example, if you’ve been consistently adding a little extra to your mortgage repayments or built up an emergency fund for the first time, take a moment to acknowledge your achievement. Maybe treat yourself to something small and meaningful - like a nice coffee with a close friend, or a book you’ve wanted to read - as a reminder that progress is worth celebrating.
Make the change today
The best part about rewiring your financial habits is that it doesn’t require drastic changes all at once. In fact, it’s the small, consistent actions that make the biggest difference.
This week, pick one area to focus on. Perhaps it’s reducing unnecessary expenses, like cutting out a few takeaways, or reducing your subscriptions to save money. Or maybe it’s setting up an automated transfer into your savings account, so you don’t have to think about it.
?
With so much learning happening around us, it’s the perfect time to embrace the same mindset for your finances. Just as professional development builds your career, rewiring your financial habits sets you up for long-term success and freedom.