You wouldn’t give up on eating healthy for the rest of your life just because you had junk food this week. After all, every day is a fresh chance to make healthy choices. Financial wellness is built the same way: It’s never too late to break old financial habits and replace them with better ones.
Example: You tend to spend…on impulse purchases
The problem: Impulse spending that is motivated by mindset, not need. Many people spend money to make themselves feel better if they happen to be stressed out or have a bad day (hence the phrase “retail therapy”). However, whipping out your wallet will not relieve stress caused by other reasons, and overspending can add further stress that is completely avoidable.
The fix: Change your financial focus. Instead of thinking that an impulse buy you can’t really afford will make you feel better, remind yourself that taking care of yourself financially will truly make you feel good in the long run. You’re doing something great for yourself by saving and—hopefully—investing in your financial future. That is something to feel fantastic about!