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Managing yourfinancestakes work and commitment.
Unfortunately, its far too easy to betray our goals through inaction or following certain toxic money habits.
In some cases, you may need to get out of your own way and determine actionable goals.
These are five bad money habits Kim said Americans need to quit.
This can be incredibly toxic when you apply it to personal finances.
Just because our friends spend on fancy cars doesnt mean we have to.
Your money values might prioritize different things, Kim said.
That is not true, and following this philosophy can leave people open to makingpoor financial decisions.
You dont need an MBA in finance to grow wealth or keep spending in check.
Money is like any other skill you’re able to learn, said Kim.
You simply need to start with something, such as tracking spending.
This knowledge helps eradicate fear and breeds confidence that success is possible.
Living in Fear
Fear is a debilitating emotion and is one of the worst toxic money fears.
It holds people back from taking action to attack goals.
As Kim noted, healthy fear has atime and placebut it shouldnt consume our lives or hold us back.
This can be true with investing.
Losing Track of Your Goals
Goals give us something to work towards.
Its essential to monitor goals, so we know where we stand.
Goals are a powerful motivator and keep us focused during the chaos of our lives, said Kim.
To aid that focus, make goals visible and break them down to increase success.
Keep your goals in front of you, break them down, and revisit them to maximize potential.
Living in the Past
No one is perfect.
However, acknowledging what happened can be a good reminder of what not to do in thepresent or future.
Instead, take the lessons learned and commit to applying them toward future goals.
Habits go both ways.
They can positively influence the direction of our lives, or they can hold us back.
Identifying what restrains us is vital to improve both our lives and finances.
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