Have you noticed that those who are wealthy and financially free tend to have similar financial goals as those who are not?:thinking_face: For example, many people across the income spectrum consider these to be financial goals they would like to obtain: 

  • Invest in property
  • Adequately prepare for retirement
  • Live without the burden of debt and its repayments 

Wouldn’t you?

Surely it is not the goals we set that determine whether we are successful with money or not. So what actually makes the difference?

Setting financial goals has its place as it can serve as a roadmap for your financial future. However, what I’ve seen play a more important role is taking the first step and being consistent with it until it’s a habit you don’t think too much about doing. 

The end goals we set for ourselves won’t bring us closer to financial success, but rather the money habits and the behaviours we implement on a consistent basis. Turning the focus away from the end goal and rather looking at the day to day habits helps us to build the system which in turn will generate our wealth.

Today we’re unpacking 5 money habits to build the financial future you’re dreaming of.

You can’t master what you can’t measure. The easiest was to spend R5000 is to spend R13.70 everyday for a year. Continue to track your income and spending on a regular basis to be aware of where you money is going and if it is fitting the “job description” you have given it in your budget. 

22Seven is a great App to help you do this. 

Build an emergency fund through regular monthly savings. The best thing you can do is automate this process. Thinking about this as a non-negotiable expense (like you’d think of rent or food) is an effective way to make sure you prioritise actually doing it. 

A helpful benchmark is to think of saving 3-6 month’s worth of expenses as an emergency fund. This will come in handy if you income happens to take an unexpected knock.

Investing is a whole lot easier and accessible today than it was 5 years ago. They best part is that you’re able to start with contributions as low as R250 per month. Continue to invest on a monthly basis and use automated payments to help you stay disciplined. 

Our greatest superpower when it comes to achieving financial success is learning to live within your means and being content here. Nothing really compares to the peace that comes with living a life you can actually afford and one that is not funded by debt. 

Investing money is not the only thing that matters. Invest in yourself and your financial literacy. Continue to educate yourself, upskill and ask for help from trusted professionals.

I’ve got a FREE Clarity Call available for you! Please feel free to reach out with a money question you may have. 

Creating habits are hard. Sticking to them is even harder.

This quick-read guide highlights 5 steps to think through creating money habits that are going to bring you the future you’re dreaming of.

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