Use visual triggers to develop better money habits – for example tape your goals to your credit card, or make a paper chain where each link is worth £100 of debt.
Make it a habit to question whether you’re spending your money where you spend your time and prioritising the things that can boost your career or your earning potential…or spending it on something else.
For every purchase, consider if it’s in line with your personal values and your goals; otherwise, you might be either spending too much or simply on the wrong things.
You can accelerate your debt reduction by making it a habit to put all “extra” money (bonuses, cash gifts, tax refunds, and so on) towards your debt.
If you set up automatic bill payments and savings, you’ve got time and energy to focus on other good money habits.
When you can’t decide between buying two things, you can use indecision as a trigger to not buy anything.
“2 items out for every 1 in” rule: is the new possession you’re considering buying valuable enough for you to get rid of two of your possessions?
30-day list: add today’s date and the thing you want to buy right now. After 30 days re-evaluate the list. This stops impulse buying as the feelings tend to go after 3 days.
Create financial rules for yourself e.g. use a 30-day list for your wants, have a “two items out for every item in” rule, and emphasise experiences over possessions.
Spend less than you earn and invest the difference. Pay off your credit cards in full each month. Don’t buy things you don’t need.