Goals + Habits = Progress

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WHAT I’M THINKING ABOUT: Goals + Habits = Progress

Achievement lies at the intersection of goals and habits.  Goals provide direction and purpose--the destination on your journey. Habits provide the forward movement--the engine in your car. For example, if your goal is to run a marathon in under four hours, all the willpower and positive thinking in the world won’t get you there, but the right training habits will.

Fall provides an opportunity to refocus your goals and reset your habits. Money touches most of our life goals, even goals that aren’t explicitly financial (such as spending more time with your significant other, which may require money for dates or vacation). Healthy money habits can facilitate these goals as well as help you progress toward financial freedom.

Here are four key money habits. Dive in deeper with this past blog post as well as this one.

  1. Live below your means
  2. Avoid credit card debt
  3. Exercise spending awareness
  4. Have cash reserves on hand (to cover big expense months and for emergencies)

Here are two interesting articles I read this month:


What Homeowners Insurance Won’t Cover If a Hurricane Hits
By Leslie Scism and Nicole Friedman, The Wall Street Journal

After a summer of record-breaking storms, homeowners are hearing a lot about flood insurance. Did you know flood damage typically isn’t covered under a standard homeowners policy? Any homeowner should read this article.


Want to Be Happy? Buy More Takeout and Hire a Maid, Study Suggests
By Niraj Chokshi, The New York Times

How can you be smarter with your money, improve your well-being, and enjoy more time with people and activities you love? According to a recent study, by spending your money on time-saving services instead of material goods.  Of course, the cost has to work with your budget. Know the value of your time and identify activities that could be done more efficiently by someone else.