The Power of Habit in Personal Finance

A few months ago my wife bought a hula hoop.

Her purpose was to lose weight. Wow! That’s a noble purpose, I thought.

Guess what?  I never see her use hula hoop right after she bought it. Well, I understand.

She seems busy with narrative reports and other deadlines  at school.

A few weeks passed by.

We went to TESCO Lotus (shopping mall in Thailand) one time to  buy something when  she saw a small pink dumbbell.

“Daddy, I think I need  this dumbbell to burn more calories and eventually lose my weight,” she said.

Yes, go ahead.  Make sure your consistent enough in using dumbbell to achieve your  desired ideal body weight,” I reminded her.

Needless to say,  she bought the dumbbell.

 

Monday. Tuesday. Wednesday. Thursday. Friday. No sign of using the dumbbell.

The forgotten dumbbell is just right there in the dusty cabinet being untouched!

A few months later, she saw a beautiful pink bicycle at the mall. We stopped and she try to ride on the bike.

“Daddy, I think this is a nice bike. I can go biking everyday in the village. I’m sure this will help me lose extra pounds.” she said.

Can you guess what happened next?

The weight loss struggle

Your absolutely right. I have seen her riding on that poor bicycle for only one time.  It is more convenient to watch telenovelas and movies and browse Facebook  than getting up to exercise. I’m not sure but maybe there is a magnet in our bed that pulls her body every time she want to get up. No wonder she’s gaining more weight instead.

Is there something wrong with hula hoop, the dumbbell, and the bicycle? Of course not!

The problem is overcoming and changing bad habits. Remember she has a strong desire to lose weight but her habits seems even powerful. It is built within the system of her body.

But there’s good news.  A few months later, with encouragement and support, she developed her exercise routine.  We get up early at 5 in the morning to jog every day. In addition, she decided to avoid unhealthy foods and to drink plenty of water and juices.

I don’t know how much weight she loses recently, but one thing is sure: she has learned to define her goal and break unhealthy habits. After all, health is wealth.

Connecting healthy habit with personal finance

Habits start with simple routines. When you have willpower and start setting goals, it will be much easier. One good example is the habit of savings. For instance, the first time I invested in the stock market and mutual fund, I find it difficult. The branded sales being offered at the mall is quite irresistible.

“Chains of habit are too light to be felt until they are too heavy to be broken.” –Warren Buffett

However, I had to replace impulsive buying attitude with sound spending habit.   I managed to saved more than five thousand pesos monthly until it became a habit. While building a healthy lifestyle has been an important habit for me, I make it sure that financial investment is also  included in my portfolio because I believe the power of compounding interest.

As wealth is build over time, one key factor to be successful in investing is good habit and willpower. If you want to be successful with everything in life, always remember there is no room for procrastination. You’ve got to replace your bad habits with good ones.

What you need is to exercise your willpower and God will continue to help you to achieve your financial goals. Paul wrote to Philippians, “I can do all this through him who gives me strength (Philippians 4:13, NIV).

By the way, my wife is now in Day 15 of her regular exercise and still continue to lose pounds.

May God bless you!

 

Richly blessed,

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