Changing Financial Habits

Habits Set The Stage For Your Success Or Failure

Initiating a new habit is never easy because starting it is the hardest step.  You have to put a lot of blood, sweat and tears to make a new habit stick.  In the beginning stages, you go through a lot of ups and falling. As a result, for some, forming new habits or breaking old habits is like battling an addiction.

Paying God First And Then Yourself Are The Two Most Important Financial Habits

  • Pay 10% of your income to tithing.
  • Pay yourself 10%.
  • Pay your debts. Start with your smallest balance so you can get it out of the way, and then roll that over to the next debt.
  • Pay your other bills.
  • Faithfully follow a budget.

Giving Is The Spirit of Abundance

The first step is to pay tithing and then yourself. Once those two are completed then make a payment on your debts.

Giving to charity is important for many reasons. For instance, many wealthy people feel that giving generously to charity was returned to them tenfold; however, don't give to charity expecting a massive return. Certainly, don't take out a loan.

 Notably, Chris and Orrin the authors of Financial Fitness teach; "The spirit of giving is the spirit of abundance, and living in the attitude of abundance will bless you in many ways."

They also warn that giving to charity is not a guarantee that you will receive more.  It may happen, but don't depend on it.  Instead, you should give because it is the right thing to do.

Follow A Cash Budget If You Are Living Paycheck to Paycheck

Living by a budget is necessary for everyone including the wealthy.  However, some need to be more militant about it than others.  If you are living paycheck to paycheck you should consider cash envelope system.

Here are a couple of ideas for budgeting your finances.  First, start a cash envelope system, where every payday you distribute money into the various envelopes. 

Chris and Orrin recommend paying tithing first and then yourself before you dump money into the envelopes. You can borrow cash from other envelopes if you feel the need, but you shouldn't add more money until payday. 

Another budgeting strategy is to carry a notebook around with you and record everything you buy.  This habit will help you to start thinking differently about money.  As a result, money will mean more to you.  Most people have no idea how much they spend.

Additionally, if you are married, you don't want to nickel and dime each other to death.  Doing that causes a lot of contention. Instead, give each other an allowance. That way you don't have to micromanage or get on your partner's case about how she spends money.  She can spend it however she wants without worry.

Click On Financial Fitness: The Offense, Defense, And Playing Field of Personal Finance, Chris Brady and Orrin Woodward, for an excellent money product.


Everything on this website is for informational purposes only. This information is not a substitute for medical advice. Do not use the information on this website to diagnose or treat any medical condition. Always consult with your own medical professional. All links are affiliate links and I earn a commission if you purchase from these links.

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