So when I walked into my local coffee store for my 3:00 p.m. latte, I was at a complete loss. I stood in the store for nearly two minutes staring at the menu, then walked out. It was at that moment that I truly understood that every habit is dependent on another, although all too often we'd like to believe that our habits work independently in our lives. They don't.
Not only did making a small change in my dietary habits also change a work habit (stretching my legs and getting fresh air at 3:00 p.m.), it also changed a spending habit, too. I walked out of the coffee shop caffeine-free, dairy-free, and $3.64 richer.
Too often we unconsciously spend a significant amount of our money on habits we consider essential. I have a quote that I keep close at hand: Money is the Root of All Fun. In fact, money is the root of nearly everything, including our daily habits.
Only five days into the new year and people are resolving to change all kinds of habits. But to change a habit usually requires replacing it with another, and any habit can have an impact on your finances, even when the change is positive. Consider the possible financial ramifications to the following common resolutions:
- Loose weight: join a gym, buy workout gear, eat healthier foods, choose organic
- Quit smoking: nicotine replacement (often increased food or drink or exercise)
- Quality Time with Friends & Family: more dining out, more entertainment
- Learn Something New: cost of class, cost of materials, cost of socializing with new friends
