What Is Your Financial Thermostat?

Before you can secure your financial success, you need to identify your financial thermostat - your current beliefs about money - because these beliefs might be holding you back. Often, these beliefs are ingrained in you since you were a child and you carry them into adulthood.

List down everything you've heard about money. It might be something like this:
Money doesn't grow on trees.
Money is the root of all evil.
Money doesn't buy happiness.
Making money is hard work.
Rich people become rich by stepping on other people.
...........

How many of these statement have influenced your attitude towards money? How have the beliefs influenced your behavior?

After you've identified your limiting beliefs, brainstorm for a list of new, positive beliefs to replace the negative ones. Your new beliefs might be:
Money allows me the help the needy.
I'm a money magnet. I attract money easily.
Money allows me to travel to places I've always dreamed of.
...........

One of the important success habits is to pay yourself first. Make sure you save at least 10% of your income. This sounds simple, but it's surprising how many people find that it's the hardest thing to do. Many say they'll start saving when they have extra money, but that day never comes. You can make paying yourself first easy by having a standing order to transfer money to a saving account. If you never see the money, you won't miss it.

Make a list of all your debts and work out a plan to pay them as quickly as you can. If you need help doing this, get the help. After you've paid your debt and you have a small amount of saving, you can then think of investing.

That is a story for another day.