Healthy money habits

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We always hear about negative money habits. It seems every time we hear newsworthy stories they are always tales of woe, especially when it comes to money. Today I want to share with you some vital keys to building healthy money habits which will ultimately help you achieve your financial success writes Pat Mesiti.

Here’s my top 5 healthy money habit:

  1. Create money
  2. Pay yourself first
  3. Simplify your life
  4. Live on 50 – 60%
  5. Give

Now I know you may be thinking some of these are obvious Pat, and yet others not so much. In fact you may even be thinking some of these are a little counter intuitive.

Well can I just say, perspective is an amazing thing. You see, up until now you have used your perspective to create the world you live in. But if it’s not the world you wanted then a change of perspective could bring about the change you need. At the very least it will show you new things which can provide you with growth opportunities. I’ve discovered people long for a change of lifestyle without a change of thinking. Your growth is a process not an event. What you do daily determines what you are permanently. The 5 habits above have served me well and what I am sharing with you is from my experience. So let me explain each point to give you a clearer understanding.

Create some money. It may seem obvious, but you can’t save, invest or give what you haven’t got so it’s very important to be committed to creating money. Remember, wealth is created. It’s built over a sustained period of time, so number one is learn to create money.

Learn to pay yourself first. Now let me be clear on this. I don’t mean pay your bills first, I mean pay yourself first. Put some money aside into an investment account. “Why?” you ask… Well if you wait to use some of your left over money for investing, think again. There will never be any left over.

Learn to simplify your life. It’s surprising how complicated we make our lives when we can live just as happily more simply. I have found that many of us spend money on stuff we don’t really need. We buy the latest clothes, the latest gadgets, the latest this and that, even though we’ve got perfectly good gadgets like phones and computers which are just as good as the brand new ones. Think about it, do you really need the latest whizz bang camera on your phone to live a fulfilled life? Obviously not! So learn to simplify your life.

Live on 50 – 60% of your income. This is an ideal range for you to live your life. Aim to pay your mortgages, electricity, food etc. from no more than 60% of your income. I believe if you start to exceed this you need to look at where you are spending your money.

Learn to give. It’s very important to set aside a certain amount of money which you give on a regular basis. We need to remember generosity is not a once in a while thing, it’s actually an all the time thing. Generosity is a way of doing life. Unfortunately, many of us don’t live a life of generosity. We live a life of donation. This is where we give a donation a couple of times a year. I think it’s a lot wiser to learn to be consistently great givers. This opens up a path for a lot more to come back to us.

So there you have it, 5 healthy money habits. Of course creating habits like these won’t happen overnight, every single habit we want to apply in our lives takes time to establish. And remember, if you fall off the bike; get back on as soon as you can. There is nothing more frustrating than thinking you’ll get it right every time. Learn from your mistakes, chalk it up to experience and get back in the game.

I really believe that by fostering these healthy money habits: simplifying your life, living on 50 – 60% of your income, being a giver and investing 10% of what you create, you will build yourself a prosperous future.

And if you really want to take your financial success to the next level, focus on investing in your personal growth and personal development. Remember, it’s not what you create financially that is ultimately important; it’s what you become.



info@mesiti.com'

Pat is a communicator and an income acceleration coach. His passion is to EQUIP and EMPOWER individuals and businesses to experience growth and prosperity to their fullest potential.


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