Good Habits For Finance and Wealth - Deepstash

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Good Habits For Finance and Wealth

Good Habits For Finance and Wealth

  • Create a Household Budget: the best habit to help you save money. A household budget helps to encourage frugality and discourage impulse spending. You’ll feel more motivated to engage in other good financial habits once you’ve got this in place.
  • Financial Audits. This involves frequent checks as to whether you’re spending your money as wisely as possible.

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  • Waking Up Early: Your productivity levels will be boosted by the lack of distractions at this time. It gives you a headstart on the day, creating a sense of added control in your life.
  • Meditation: You’ll train your mind to remain focused and not to wander into daydreams...

  • Cue — The scenario that triggers the desire to engage in the habit. It’s usually a time of day, a set of surroundings, a specific emotion or a set of ritualized behaviors
  • Routine — The action itself
  • Reward — The reason you feel good having engaged in the ...

Identifying the cue and the reward you’re craving is key to eliminating bad habits.
More often than not, you can quit bad habits by adding a little “friction”.
With this information, you can replace any bad habit with a healthier one that offers the same reward.

  • Envision your ideal end result. What are you going to achieve?
  • Write it down. It will serve as a powerful motivation, especially if you include why you want it.
  • Create a detailed vision you're compelled to chase.
  • Research people who have re...

  • Regular Aerobic Exercise: Great for both your physical and mental health. Increases the production of dopamine and boosts creativity.
  • Preparing Your Own Meals. It’ll take some getting used to, but it’s a habit that’ll boost your health, wealth and productivity. 

Set achievable goals and build them.

Small wins make you feel good about setting targets, highlight your progression and prove that success is possible. Without these stepping stones, it’s easy to get disheartened and give up.

The development of most good habits involves cutting and replacing bad ones.

  • Losing weight involves cutting out snacking
  • Productivity involves cutting procrastination and focusing on Deep Work
  • Financial prosperity involves cutting your impulse spending

Long-term goals are your most powerful motivators. If your ‘why’ is strong enough, you’ll find your ‘how’.

Create a vision board. Make affirmations. Put it on your phone’s lock screen. Whatever it takes.

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  1. Harness the dopamine effect: identify the desired outcome. Mentally walking yourself through the process of success and the joys and benefits it brings can teach your brain to be motivated by something other than dread.
  2. Start with baby-steps: identify the “tiny habits” ...

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Conventional wisdom states that strong habits improve our productivity. Daily habits done in an autopilot mode are not the only route to peak performance.

While our habits help us stick to good behaviour by automatic decision making. That’s not to say that your habit streak should never be...

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It explains how you can get the most out of the fact that 45% of your behavior happens on autopilot by setting ridiculously small goals, relying on willpower instead of motivation and tracking your progress to live a life that’s full of good mini habits.

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