Day 30 – 30 Days of Positive Life-Enhancing Habits Challenge

One final habit you need to incorporate into your daily life is that of investing a percentage of your income for the future. It doesn’t matter if you are barely making it right now; learning how to budget by learning about different methods of saving and investing is going to pay off more than almost anything.

The main reason is that even if you cannot afford to save now, you’re going to learn about not overspending or using credit, which will help you ensure that someday you can invest.

As you work on your daily habits that help safeguard your future, one of the daily habits that will pay off the most is learning to save and invest a percentage of your income for your future by habit. It’s hard to save money for the future if you’re not able to really think about the future much, but there is no willpower needed if you just think about what you’re doing today, and keep doing it as a matter of course, you’ll end up benefiting exponentially.

  • Determine Your Priorities – When you know what your priorities are today and into the future, through your life, it’s going to be much easier seeing your daily spending and savings goals.
  • Automate Investing and Saving – Once you have set up your goals, you can automate most of the process by having a percentage of your paycheck go directly to savings and investment accounts. If it’s never there to spend, you will be more likely to save it. 
  • Avoid Consumer Debt – When you are setting up your daily habits, you know that avoiding consumer debt is an imperative for anyone who really wants to have a safe and stable future. Therefore, you don’t buy things without a daily plan for saving and spending.
  • Borrow Money Like Rich People Do – When and if you borrow money, only borrow it when you really don’t need it, and the interest rate is super low. If the rate is lower than what you can earn on your money, borrowing is smart. For example, if you qualify for a zero-interest car loan, why wouldn’t you?
  • Plan For Big Expenses – When you habituate your spending and saving, you will always plan for big expenses (and really all expenses) so that you’re never caught off guard. You will know that at this particular time in the future, you’re going to buy a thing, and you know how much you need to be saving daily to ensure it happens.
  • Plan for Emergencies – Even though it seems impossible, you can plan for potential emergencies, making them less tragic. In everyone’s life, they have things happen. People get sick. People get hurt. People lose their jobs. People even die. Plan for at least one emergency by saving six to eight months of living expenses in a liquid account.
  • Save All Windfalls – During a lifetime, you’re going to get monetary windfalls once in a blue moon for birthdays, inheritances, or bonuses and raises at work arrange for every single one to be saved or invested without even giving it a thought.
  • Take a Cooking Class – Most people waste money by eating out at restaurants and not even good ones. Decide to learn how to cook so that you can make good quality food at home.
  • Buy Experiences Not Stuff – When you do plan expenses, consider having more experiences and less stuff. When you spend money on an adventure, you always learn something that gives you value far beyond what you buy.
  • Track Your Efforts – Whatever you track and pay attention to is what will grow. Track your savings efforts by checking up on your accounts at least quarterly. This is important when you’re doing automatic deposits just to make sure it’s all working as planned.

When you start thinking of the daily habits you have as good things that automatically take care of your future, each day becomes a no-brainer. You just save money just because that’s what you do and not something difficult to do.

It’s part of your priorities and a driving force for your lifestyle, and that’s what you set up to be important. Do you see a method to the madness now? Set your goals, schedule the actions you need to take to reach your goals, and then simply live your life doing a little bit each day, and one day you’ll arrive in the future automatically, and all will be well.