Simple Plan for seniors to break their Bad Financial Habits
The number of older adults aged 65 and older who are struggling with their finances is surprisingly very high. If you are among them, then you should continue reading this article to the very end. While your bad state of finance could be due to reasons that might be out of your control, we are often our own worst enemy. You have the best of intentions and you know that you should watch and control your spending. You also know that you should still continue to save money and invest even as you are in your twilight years. But somehow, you can’t just seem to do it. The question therefore is, what exactly is holding you back? The answer to this question is always an obvious one – little detrimental financial habits. In more often than not, these habits don’t actually seem so bad. In fact, they are usually just little things. If bad financial habits are often the biggest problem, then seniors should focus on breaking them. Maybe you already know this but you just don’t know how to break your bad habits. Well, here is the simple plan that will help you out.
Make it conscious
Find out the reasons for engaging in that bad habit. You can identify the feelings and circumstances associated with the habit. This will help you get the reasons. Are you spending much money on coffee at a cafeteria because you are lazy making it at home, or because you are not having enough sleep? Or do you sometimes go for shopping just because you are bored?
Write it down
Put down in writing all the bad behaviors that you want to change. Identify the frequency of the behavior and the conditions that trigger it. This will help you be able to analyze the bad habit.
Bait and switch
A habit is not easy to eradicate. Replacing the bad financial habit with another desirable one is the best way to go about it. For instance, if you normally spend a lot of money on a cup of coffee at a coffee shop, then you can add Humana Health Insurance 2020 and get adding flavored creamer in your home-made coffee. This will make you not like the coffee made at the coffee shop. If you usually go shopping just because you are bored, you can volunteer at your local library or invite a friend home so you can have great time together.