Are Your Financial Habits Normal?

Each day you get up and shower, get dressed, have breakfast, feed the pets and go to work: or something like that. That’s normal for you but it doesn’t mean it’s normal for the next person.

Did you know that when it comes to your money, there is a normal too? Your money normal encompasses your ability to pay your bills, educate your kids, buy a home or retire in comfort and security. That will change for everyone.

So how do you define your money-normal, as it can impact your life in huge ways?

Some people believe that you save regularly and stay out of debt. Others believe that the future is unknowable, so why worry about it. We ultimately define our actions based on our habits and what we believe is appropriate or in our best interest.

Meet Chandler who is a frugal spender, a good saver and even manages to invest here and there. He is happy with that lifestyle and always manages to have money available to do what he wants to do, when he wants to do it. He is organized, disciplined, a planner and a saver.

On the flip side Joey likes to spend as required, he likes to do and have what he wants and needs without consideration of next months finances, and as a result lives from day to day, not interested in, or maybe not knowledgeable of what he requires to save for the future. He thinks it will be there when it’s needed; somehow. (Of course there are many variations of those two examples.)

Both of these fictional people believe that their approach is normal. And it is because they live it. But the consequences can be very different. It’s not a matter of who is wrong or right – it’s simply, their normal.

You need to understand your normal, does it bring you closer to your happiness, satisfaction, comfort and a secure financial future? If so, keep it going. If not, perhaps it’s time for a new normal…

A good start to being money-normal is to get a plan in place. You can start by establishing Your Spending Plan to track, adjust and manage your finances and spending.

What is your “normal”?

#Retirement #CreditCarddebt #Consumer #FinancialPlanning #Spending #Budgeting

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