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Health is wealth! And bad habits can ruin both. Whether you accept those or not, it may be easier for you to spot your own bad habits that can potentially ruin your health. But how do you spot bad financial habits and correct those?
Here are three steps you can start with.
Examine your relationship with money
Watch out for these unhealthy wealth habits.
- Spending money without saving for emergency and retirement.
- Thinking of saving only after you have spent most of your money.
- Even though your income is more than sufficient, you are unable to cover your expenses.
- Shopping online just because you are bored or stressed.
- Spending without limit today, without thinking of tomorrow.
- Using your credit card to fund regular shopping and getting trapped in the loop of credit card debt.
- Avoiding repaying your debt.
- Feeling anxious even when you pay your bills regularly.
Set personal goals
Setting personal goals is a healthy financial habit. List those goals. Check if you are on track to achieving those. Once you have these two pieces of information, you can easily find out why there is a gap between your goals and your investments. Evaluate your goals and investments periodically as the goals are dynamic and will change with life stages.
Seek help
Just as you seek professional help to break free from habits that damage your health, seek help to remedy your financial health. You can consult a financial planner who will understand your goals and put you on the right path to achieve those. The financial journey is not easy; you do not have to travel it alone.
Breaking bad habits isn’t easy. The first step is to spot the habit and accept it. The next steps become easier, with your financial planner as your guide.
Start your personal wealth journey with us today!
Plan to Maximize Your Retirement Years
October 4, 2018
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Health is wealth! And bad habits can ruin both. Whether you accept those or not, it may be easier for you to spot your own bad habits that can potentially ruin your health. But how do you spot bad financial habits and correct those?
Here are three steps you can start with.
Examine your relationship with money
Watch out for these unhealthy wealth habits.
- Spending money without saving for emergency and retirement.
- Thinking of saving only after you have spent most of your money.
- Even though your income is more than sufficient, you are unable to cover your expenses.
- Shopping online just because you are bored or stressed.
- Spending without limit today, without thinking of tomorrow.
- Using your credit card to fund regular shopping and getting trapped in the loop of credit card debt.
- Avoiding repaying your debt.
- Feeling anxious even when you pay your bills regularly.
Set personal goals
Setting personal goals is a healthy financial habit. List those goals. Check if you are on track to achieving those. Once you have these two pieces of information, you can easily find out why there is a gap between your goals and your investments. Evaluate your goals and investments periodically as the goals are dynamic and will change with life stages.
Seek help
Just as you seek professional help to break free from habits that damage your health, seek help to remedy your financial health. You can consult a financial planner who will understand your goals and put you on the right path to achieve those. The financial journey is not easy; you do not have to travel it alone.
Breaking bad habits isn’t easy. The first step is to spot the habit and accept it. The next steps become easier, with your financial planner as your guide.
Start your personal wealth journey with us today!
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