4 Financial Habits to Start This Fall
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While many people focus on making life changes at the start of a new year, the fall has a certain back-to-school energy making it a perfect time to focus on new habits and routines. Even as adults, something about this season makes us want to pull out our planners, sharpen our pencils, and get down to business. If you are ready to transform your finances, here are four financial habits that will help get you there:
Tracking your spending
If you’ve ever wondered where all of your money goes, it’s time to start tracking your spending. Making this a daily habit will boost your mindfulness and uncover patterns in your spending you might not have known were there. Tracking is simple—all you need is a pen and a piece of paper, a free app on your phone, or a spreadsheet—but that doesn’t mean it’s easy to maintain. To create consistency and keep it a bite-sized task, start by tracking your expenses every day and tie it to a habit you already have, such as doing it right after brushing your teeth in the morning or at night.
Meal prepping
Grabbing takeout for lunch at work or ordering Uber Eats at the end of the day when you’re too tired to cook can cost you hundreds of extra dollars per month. For this reason, meal prepping is one of the most valuable financial habits you can adopt into your weekly routine. If you aren’t up for planning everything yourself, meal kits like Factor Meals, Sunbasket, and Blue Apron or weekly meal prep plans like Prep Dish can help ease the transition.
Practicing gratitude
There is a significant connection between how we feel and how we spend money. Many people spend money when they feel sad, anxious, or insecure. When you are content, you aren’t as tempted to shell out cash, especially for things rather than experiences. Gratitude is a direct pathway to feeling more positive emotions. Bonus: developing this habit is completely free! All you need is a piece of paper or the notes app on your phone to write down 1-3 things you’re grateful for each day.
Planning for major expenses
It’s easy to get swept up in your day-to-day life and let planning for bigger expenses fall by the wayside. Before you know it, you need $500 for holiday gifts or $2,000 for an upcoming trip—like yesterday. Because there is no set date on the calendar to start planning for these types of expenses, the work gets put off until the last minute, which adds to the pressure and difficulty of saving enough. Getting into the habit of putting these events and expenses on the calendar and reviewing it each month will be the push you need to start planning (and saving) sooner.
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