Things to Give Up Now for a More Financially Secure Future

There are a few things many of us need to give up in order to move towards a more prosperous and financially secure future. And no, I’m definitely not talking about lattes and avocado toast.

Old Habits

Many of us cling to bad financial habits out of comfort or perhaps an inaccurate or outdated belief. We all have beliefs about money that we grew up with or that are ingrained in us as part of our money personality. Beliefs like:

• Money is the root of all evil
• Rich people are inherently bad people
• Talking about money is crass
• I will get what I deserve, regardless of my actions
• I don’t deserve much
• I’m not good with money
• My friends won’t like me if I out-earn them
• More money, more problems

These beliefs may be wildly inaccurate, but they tend to feed behaviors and shape our habits in ways that can make them self-fulfilling prophecies. Questioning old beliefs – and changing the habits you’ve fallen into based on them – is a major step towards creating a healthier and more secure financial future.

Bad Friends

You’ve no doubt heard before that you are generally the average of the five people you spend the most time with. While the truth is a little more complex than that, it is true that as social animals, our friends have a big influence on us.

Many of us tend to measure ourselves and our progress (including financial progress) according to how our friends are doing, and often our spending habits, aspirations and goals are linked to the attitudes, values, and actions of those closest to us.

Obviously this doesn’t mean you should simply drop those friends who are not doing well financially. But it does help to be mindful about how your friends’ habits and attitudes to money impact you. And it’s definitely worth watching out for false friends who don’t support you in your financial goals, don’t encourage you in bettering your situation, or who persuade you to overspend when they know you can’t afford it. Friends who are happy to sabotage you financially are often the ones who are bad for you in other ways too.

Chasing Quick-Fix Solutions

There will always be another get rich quick scheme out there, but ultimately putting solid and sustainable long-term strategies in place is how you build a secure financial future. Diversifying your investments and researching potential new income streams is fine. But if you’ve signed up for ten different “10x your income” webinars this year – and none of them have yet resulted in an income increase – there’s something to be learned from that.

The internet is full of people telling you they can help you earn more money. Some of them are scammers and none of them actually have magic beans that will grow, untended, into a thriving business. Income opportunities only work when you do. If someone is offering a quick route to a high income in return for very little effort, approach with caution (or avoid all together).

A Head-in-the-Sand Mentality

It’s not unusual to not want to face your financial reality, especially if you have substantial debt, bad credit, and other issues that seem overwhelming. However, many people find that sitting down and taking a long, hard look at their current situation – and how they got there – is one of the most helpful things they can do.

This is what allows you to learn from past mistakes, put new habits in place, and find solutions that you can start working on straight away. As you start to take responsibility and make plans for the future, no matter how long-term that future may be, you start to feel like you’re back in control of your finances.

A Fear of Asking for Help

Seeking help when you need it isn’t easy for many of us. When it comes to finances, it’s often even harder than in other areas. It’s also more important. As you draw your head out of the sand and start to assess exactly what your problems are, it makes sense to seek the information you need to fix it.

Be open to asking for help. Seek out the right kind of financial advice. Consider talking to a professional (and research exactly which kind of professional you need right now. Depending on where you are, just one small action could put you in a better place to face all your personal finance demons over the next few months.

Karen Banes is a freelance writer specializing in entrepreneurship, parenting and lifestyle. She writes articles, website content, ebooks and the occasional award winning short story. Her work has appeared in a range of publications both online and off, including The Washington Post, Life Info Magazine, Transitions Abroad, Brave New Traveler, Natural Parenting Group, and Copia Magazine. Learn More About Karen