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Six Overlooked Reasons why you are struggling with your finances: Reason #5 - Not Changing Behaviors

Posted Nov 17 2008 11:50pm

There is a great emphasis on planning when it comes to managing finances. Whether it is for saving for retirement, building a college fund, or day to day budgeting, planning plays a very important role when preparing for the financial future. While financial planning is important, it can also be something that some adults with ADD who are focused on making changes can overemphasize. Often the extreme focus can be on creating the perfect budget, or optimizing a savings and investment portfolio. With so much attention spent on planning, the behavior side often tends to get ignored, because it can be tedious and not exciting.

Yet it is ultimately on behavior that plays the most important role in our financial well being. Financial behaviors are not easy to change, it takes a lot of effort to change patterns in our life. The key to changing behavior is to do if from a position of strength. Here a several examples of how to increase your strength when dealing with changing financial behavior.

1. Support - Getting help from friends and family is very important when trying to change behavior. They can motivate you when you feel like spending money, and give you the push to pay your bills, increase savings and reduce debt.

2. Planning - Not only is it important to plan our goals, but it is also important to plan the route we are taking to achieve our goals. Examples of this include only shopping with a list, researching cheaper alternatives, and bringing only the amount we are planning to spend when going out with friends.

3. Physical Peak - Many of my financial challenges have been caused by making choices when I have  been weak physically and emotionally. It is important to focus on your physical and emotion well being in order to make good choices. It is often as easy as recognizing the right time of day for you to go shopping or to pay bills. Some people make better decisions in the morning, where others are better at night. Give yourself every advantage to succeed by finding the time when you are at your best.   

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