“Your life is the sum total of all the little actions you take, your daily habit pattern. Successful people are those whose daily habits add up to something great.”
Chellie Campbell, “Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”
This is how you become financially free. You won’t become financially free all at one time. Even lottery winners must develop smart money habits one day at a time. You start one new smart money action today. Then tomorrow, you do it again. And then again the next day. After a month, this action becomes a habit. The next month, you start another smart money habit and do it every day for 30 days. It too becomes a part of you.
Smart money habits are not hard to identify. You’ve probably got a list of them in your head and you’re resisting starting them because it seems too hard. Change is hard. Delayed gratification is hard. That’s what smart money habits usually are. A smart money habit means choosing not to do something today so you can use that money for something bigger, more important, and more valuable to you at a time in the future.
From a personal standpoint, when our son was born 18 years ago, my wife and I decided that paying for most of our son’s college education was important to us and we opened a 529 College Savings account for him the month he was born. We saved $250 every month in his account, even when it was hard. Even when we wanted to do something else with the money, we saved the $250 each month. We never wavered from this money habit and when our son graduated from high school last week, we knew he could go to college and would not graduate from college with a mountain of debt. Saving for his college costs was a money habit we began 18 years ago and stuck with it.
I suggest you start one new money habit today. Pick one smart money habit that you know you should do and begin it today. You will be amazed at the progress you’ll make and how good you’ll feel when you realize that you’re making great progress on your path to financial freedom.