6 Steps to Changing Your Behaviour

When it comes to changing behaviour surrounding money there are 6 definite steps that will help you to make lasting change:

Step One  - Having a Desire to Change

There is only one person that can take this step and that is you. The desire to change cannot come from an outside source, it must come from you realising that you need to change and it is in your power to do so. Once that decision is made you can then move to the next step. If you are struggling with this very first step then why not put pen to paper and make a list of why it is important for you to change. Within that process you will soon see the need and the importance to you to move from a position of always doing what you do the way you've always done them to the position of wanting change and being ready.

Step Two - Preparation for Change

This is an important step because if you do not make preparations you will fail and many people don't get past step one because they trip over this preparation step.

So what does preparation mean - Well you will probably need to increase your knowledge and understanding. Sadly, when it comes to money, many people have never been taught the simple act of budgeting. The taking time to write down all of your income and expenses and see if you actually have the ability to save. If your income is greater than your expenses then you can move forward to learning how to actively save the unused portion of your income instead of frittering it away on things that you don't necessarily value.

But if your income is less than your expenses then you m ay need to learn how to reduce your expenses or how to increase your income - either way you will need to learn how to live on less so that you can set goals surrounding saving and moving your money to where you want it to go instead of feeling like your expenses are dictating your spending.

This step can be time consuming as you find the resources you need to move forward and learn but your ability to change is dependent upon you completing this step fully. (If we can help please contact us for a 1 hour Free consultation)

Step 3 - Take Action

This might sound silly but so many people stop after the first two steps because this one seems so final but you must get started of you are going to change.

Taking action means, for example, if you have discovered that in order to save for that dream holiday you have to reduce your coffee drinking or lunch buying by $30 per week - then you MUST do that. Yes it is a shock but you have been wanting to go on this dream holiday for the last five years so if you are ever going to get there you MUST TAKE ACTION!

Step 4 - Maintaining Your New Way of Life

Once you know what you should be doing and you have stepped out in the direction of your new way of life - you need to maintain it. It is a good idea to get someone to walk this part of your journey with you - someone who will help keep you accountable (if you don't have anyone - this is where a financial coach can help - which is what we do best). Trying to do this step all alone can be isolating - after all the people around you have got into the same habits you did and unless you let them know what you are  doing, you are going to feel obliged to keep going along wit the crowd so you fit in to the norm but it is well worth confiding in a few close friends and often the result is that you inspire them to make some changes as well and then you can all go on the journey together.

Step 5 - Forgiving Yourself When Things Go Wrong

Let's face it, life is not smooth sailing and when life gets tuff we can fall back into our old ways and our new behaviours can get swallowed up in a desire to just... well you fill in the blanks - we all have our own weaknesses and I am sure you can name yours. This is why forgiveness is so important - recognise that your loss of direction or falling back into old behaviours was a mistake and so dust yourself off, forgive yourself and get right back on track!

Step 6 - Contemplation

Once you have forgiven yourself and got back on track you really do need to inspect the reason why you "fell off the horse" in the first place. What events or actions caused you to lose focus. Is there something or a particular person that gets you off track every time and if so is there anyway that can change.

Hopefully it is something as simple as walking a different way to work so you don't pass your favourite coffee shop and get tempted but sometimes it can be more serious than that.

Sadly some relationships are not the best for us and we need to know when to walk away from a toxic friendship that will always try to keep us down. Again there is nothing wrong with seeking outside help in the form of a counsellor or trusted friend if you do feel you are in this type of situation.

So there you have it - 6 steps to changing your behaviour surrounding money - it will be a perpetual cycle for sometime because as we grow and develop and realise our true potential and set very definite financial goals we will need to continue to make the necessary changes that will facilitate you meeting those goals.

If you have read this far then can I just say "Well done for deciding to change" and if we can be of any help on your journey please don't hesitate to call our office or book a complimentary appointment on line!