The Easter break sure has been kind to me but not my blog. Hopefully the topic I’m writing about today will help me stay on track and keep delivering more posts to you all. Some things in life become routine, many which are good but others which aren’t. Habit tracking is the best way to bust the negative and create positive change in your life.
Caffeine is an addictive drug that is too often consumed in unhealthy beverages and amounts. Personally I would find myself drinking some sort of flavored coffee nearly every morning and a Dr. Pepper with lunch. It became a craving, I needed those to get by. Unbeknownst to me I had also been experiencing acid reflux and GI discomfort. When I brought my symptoms up with the doctor he mentioned the possible issue and that caffeine is a major contributor. Right then I knew I needed a change.
As you can see from my screenshots, I haven’t had any caffeine in 53 days. It was tough at first, but I started feeling better. No more acid reflux or GI issues. Tracking my behavior has had a remarkable effect on my health.
Habit Tracking Will Improve Financial Health
The next step is to put this to use for retirement purposes. It could be as simple as saving a dollar a day. Once that becomes second nature, start upping the amount. Soon you’ll find yourself saving more and more every month. Perhaps you are having trouble cutting down the amount you spend on eating out. Create a goal to check in every day that you didn’t get food from a restaurant. Even if at first you don’t cut back as much, you’ll see results soon. Having a scorecard of how often you are successful will push you to do better.
If you are only successful 50% of the time in the first month, shoot for 75% the next. Any increase will be motivation to keep pushing yourself. Rather than a rigid “save $100 this month” or “spend less than $200 on restaurants” you’ll track the small goal each day. I have found this to be powerful in my daily life. One day doesn’t get me down nearly as much as not meeting a monthly goal. Tracking a habit day by day allows breathing room.
What are you waiting for? Let’s all retire lazy together!
My personal recommendation for lazy people looking to grow their money, essentially hands free. Define your risk tolerance, set up monthly deposits, and watch your accounts grow! Wealthfront is easy to use, will manage your first $15,000 for free (if you sign up with my referral link), and has great features like tax-loss harvesting.