The #1 Thing Keeping You from Your Financial Goals
- bryceallenfinancia
- Mar 19
- 3 min read
There is one thing common to all people that is the biggest factor in determining the future for their financial situation. You might be thinking of a few potential contenders: one’s income or job, where one lives or their family status, or even who they marry. Now, all these factors definitely play a part, but they are not the single contributor that everyone can claim and has the biggest impact on your finances.
The answer is you. Yes, you.
When I say "you," I’m not referring to external circumstances or the world around you. I’m talking about your decisions and your habits. These are the real game-changers when it comes to achieving your financial goals. Today, let’s dive into why habits matter more than numbers and how the right habits can make all the difference in your financial success.
Imagine, working day after day, week after week only to see what goes into your bank account… comes right back out. You work hard, but you don’t know where your money is going. You tell yourself, “if only I made X dollar amount more, and then I could get ahead!”
Maybe this sounds all too familiar.
Here’s the problem: you're letting money control you, instead of you taking control of your money.
Even if you make a budget (check out my tips to making a budget!) it can still seem like you are fighting a losing battle. This is why an examination of habits, routines, and mindset is crucial. What good does a budget do if your habits and behaviors are causing you to go over every month? A budget becomes a set of new year’s resolutions that are forgotten by February. Your habits not only impact the present but also have compounding effects on the future. Imagine avoiding a $500 car payment by choosing to drive a more affordable car for a while and developing the habit of saving or investing that $500 each month. Over time, that small change could result in a difference of over a million dollars. That’s why habits matter more than the numbers in your bank account. They are the foundation of your financial success or failure.
This is a difficult task, conquering the old self. There are many ways of breaking bad habits and building new ones.
Mindset is the first place to start, for all things start with an idea. This is probably the most powerful step… but also the most challenging. Make up your mind to: make a change, have hope that things can be different, and get ahead with money. It can be a daunting path, but once you make that decision, everything else will start to fall into place. But it all starts with you.
Furthermore, set specific, achievable, & time-dependent goals.
For instance: I want to pay off $1000 of student loans in three months.
Now, set the routines that can help you achieve it. For instance, you could commit to reviewing and balancing your budget at the beginning and end of every month. These small habits will compound over time, bringing you closer to your goal.
Next, have an accountability partner who can help you stay focused and motivated. This can make all the difference, especially in those times of weakness.
Finally, track your progress. Celebrating small victories along the way—like paying off a portion of your loan or sticking to your budget for a month—will keep you motivated and reinforce the good habits you’re developing.
This is where a financial coach comes in.
A financial coach gives you the tools, knowledge, motivation, vision, and most importantly, hope to pursue your financial goals. We also serve as an objective person who can see into your situation and bring clarity, because let's be honest, money can be emotional, personal, and relational. At the end of the day, your financial situation is a reflection of how you live your life. A coach can ask the right questions, challenge your assumptions, and empower you to make lasting changes. With the right support, you’ll be well on your way to transforming your financial future.
