THE ECONOMIC HABITS YOU NEED TO START IMPLEMENTING NOW!

Hello, how about your 2022 financial plan? Definitely organized and calculating, right?

Well, if you already have mature financial goals, of course you want all of these financial goals to be achieved by 2022. Having well-organized financial goals means that you already have the most basic capital to achieve these various financial goals, namely your intentions and plans. . But intention and planning are certainly not enough. It shouldn't really matter that much to have those intentions and plans. It is the consistency of financial behavior to achieve those financial goals. This consistency, if not managed properly, can be the most dangerous enemy for all of us. Second, how do you stay consistent in achieving the financial goals you have set?

One way is to develop good financial habits. Five daily economic habits that must be carried out to achieve the economic goals that have been prepared are as follows:

1. Record all income and expenses on a regular basis.

By knowing all of your income and expenses, and over time your financial situation, you can decide if it's a good time to cut expenses or if it's time to relax.

2. Avoid buying anything other than plans.

Buying something that is not planned (impulse buying) is one of the main enemies of financial planning. This often unwittingly prevents us from achieving our financial goals. One way to prevent this is to make a list of the things you need when shopping and stick to that list. If you have the urge to buy something from the list, ask yourself again. Is this really necessary, or is it just a wish that has passed?

3. Get in the habit of setting the highest spending limit for your goods or needs.

For example, if you need to buy a gift for a friend, or if you eat out at a restaurant or watch a movie on the weekends, decide how much you can spend and stick with it. Of course, you can give your friends an unforgettable gift and relax on the weekend, but be careful not to overdo it.

4. Save the savings.

Always set aside the income you receive for various future needs, such as severance pay and emergency funds. Use an emergency fund to resist the urge to use reserve funds beyond their intended purpose. It's never too late. So if you haven't applied it in a long time, you can start now.

5. Keep money in your wallet for as little money as possible.

Since cash in my wallet is limited, this helps reduce impulse purchases, especially if the store doesn't accept cashless payments. A How would you react? Can you develop good financial habits that aim to "maintain" financial behavioral coherence to achieve your financial goals? Stay tuned for the next article that describes five good economic habits that you can adopt every day. Use your money wisely and manage your money well to live a richer life.