How to Form Rich Habits in 30 Days or Less

*This post contains affiliate links. That means I receive a small commission that could help me on my debt-free journey —at no extra cost to you—if you make a purchase using the links.

“Most people don’t struggle with money. They struggle with habits.”— Anthony Coleman, Financial Lituation

Let that marinate. “Most people don’t struggle with money. They struggle with habits.” What we do day in and day out weighs heavily on our lives a year from now, five years from now and so on. If we want to be financially independent, then we have to create good, daily habits that support that goal.

Tom Corley studied the habits of the rich and poor for five years. That’s when he realized that the majority of the rich share certain habits. The poor have their own mindset and habits, too. Corley’s book, Rich Habits: The Daily Success Habits of Wealthy Individuals, outlines 21 wealthy habits anyone could follow to help them attract money.

“Our habits, good or bad, determine the financial circumstances of our lives.” — Tom Corley

Here’s the thing. We don’t have to reinvent the wheel. If you want to be rich, then do what the rich do.

6 Rich Habits You Could Form in 30 Days or Less

Here are a few Rich Habits you could form in under three weeks, Corley says.

  1. Do aerobic exercise 15-20 minutes a day for at least 18 days. This promotes brain and body health. 76% of the wealthy exercise aerobically 4 days a week, according to Corley’s research. 23% of the poor do this.
  2. Eat healthy every day for at least 18 days. This promotes brain and body health. 70% of the wealthy eat less than 300 junk food calories per day. 97% of poor people eat more than 300 junk food calories per day.
  3. Read to learn 15-20 minutes a day for at least 18 days. This a personal and professional growth activity. 88% of wealthy people read 30 minutes or more each day for education or career reasons vs. 2% of poor people.
  4. Listen to audiobooks or podcasts during your commute or some other time during the day for self- or career development. 63% of wealthy do this. 55 of the poor.
  5. Write a to-do list every day to keep you focused on accomplishing your goals—big or small. 81% of wealthy maintain a to-do list vs. 19% of the poor.
  6. Limit television time to less than 1 hour per day. Yep! A whole hour! 67% of wealthy maintain skip TV vs. 23% of the poor. Guess who watches the most reality TV! 6% of wealthy watch reality TV vs. 78% of the poor. Wow!

Forming these habits could take 18 days or fewer! Not bad, right?! Brian Tracy considers these habits to be of medium complexity (can be formed in 14-21 days). If you get these habits down, then you could build discipline and form more habits based on the ones you’ve already mastered.

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How to Get Out of Debt with Sheri Riley’s P.O.W.E.R. Process

*This post contains affiliate links. That means I receive a small commission that could help me on my debt-free journey —at no extra cost to you—if you make a purchase using the links.

Getting out of debt is quite simple. There are three steps:

  1. Spend less.
  2. Earn more.
  3. Pay off debt with the difference.

Simple, but not easy. Debt slayers are acutely aware of this. If it were all about the  numbers, then everyone would be debt-free in a heartbeat. But the debt-free journey also calls on you to fix your mindset and find strength, courage and creativity you probably didn’t think you had.

Sheri Riley’s awesome book Exponential Living: Stop Spending 100% of Your Time on 10% of Who You Are lays out a solid process for setting yourself up to achieve any monumental task. She calls on you to live in your P.O.W.E.R.

  1. P – PerspectiveAdopt a point of view that empowers you.
  2. O – OwnershipOwn what is important to you.
  3. W – WisdomIdentify your one or two next basic steps.
  4. E – EngagementCommit to the implementation of those steps.
  5. R – RewardStay consistently engaged with the process in order to experience the positive outcomes.

Let me explain how to use your P.O.W.E.R. to slay debt.

P – Perspective – Adopt a point of view that empowers you.

If you want to make a change in your life or respond effectively to a challenge, the way you look at the situation—your perspective—is critical.

Sheri writes that if you see the situation as an opportunity or chance to elevate your game instead of a crushing blow or bad luck, then you’re halfway to a positive resolution. I believe her.

On a podcast, a journalist who eliminated over $100,000 of debt in two years said he stopped thinking of his debts as burdens. Instead, they became targets. Then he set his sights on getting rid of the first one on his list. And then the next one. And then the next one. I had started using that tactic, too. Each line in my debt snowball has a name, for example, Operation: I’m So Over Undergrad Loans and Operation: Old Navy is Old News (a credit card). Those names make me feel empowered. It’s like I’m a soldier on a mission, no longer the prey.

How do you view your debt and your current circumstances? It’s easy to feel down on yourself. Being $40,00, $50,000 or $100,000 in debt is no fun at all. But if your perspective is “I’ll always have debt,” well, chances are you’ll always have debt.

Forgive yourself for your past money mistakes. Shed limiting beliefs—yours and those you’ve adopted from family, friends and society. And instead of spewing negativity into the universe, speak positively about where you want to be and how you’ll get there. Say “I’m going to be debt-free. Wealth is mine!” That’s the self-fulfilling prophecy you want to manifest.

Get Out of Debt with the POWER Process

Click to read more about the P.O.W.E.R. process.

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Non-Monetary Benefits of No-Spend Challenges

Often, people go into no-spend challenges, spending freezes or financial fasts just thinking about the money they’ll save. That’s definitely a huge component, but I’ve grown to love hitting the reset button on spending every so often because of these perks that don’t directly deal with money.

  1. Spending “shopping time” on other things—more important things. Money and time seem to multiply when you don’t shop.
  2. Greater appreciation of the little things. Free candy from a coworker or spending more time with family instead of at sales could make you ridiculously grateful when your wallet’s closed.
  3. Better differentiation between needs and wants. This is key for slaying debt. You gotta spend on things you truly need and value.
  4. Looser jeans. Eating home-cooked meals and rationing out meals to last a whole week (or however long you choose) can reduce your waistline.
  5. More self-control. That discipline muscle will get a workout. You’ll get better at telling yourself “No” and maybe get more strict with portion sizes to stretch meals.
  6. Cleaner pantry. It’s wise to use up what’s in your fridge and cabinets instead of wasting food, buying more groceries or eating out.
  7. More creativity. When you clear out your pantry, you end up mixing odd ingredients in stir fries or eating breakfast for dinner to use up your pancake mix.
  8. Less clutter. You have less stuff when you buy less stuff. Easier said than done sometimes, right?

Am I missing anything? What perks have you gotten from completing a no-spend challenge? Leave your comment below.

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12 Tips for Staying in the Debt-Busting Mindset

*This post contains affiliate links. That means I receive a small commission that could help me on my debt-free journey —at no extra cost to you—if you make a purchase using the links.

Debt-fatigue is real! Paying off debt month after month gets old, but it’s necessary to attain financial freedom. Ain’t nothing wrong with reciting affirmations (I love it) and reading books (I almost love this more than chocolate). But we already know how awesome those practices are for believing in and educating ourselves. Here are 12 other tips for staying motivated along the debt-free journey.

1. Imagine your life with no debt and huge savings.

Really. Just imagine that. Think about what your life would be like without sending $400 to your alma mater each month for that 10-year-old degree. Think about the vacations you’ll take with your family and the memories you’ll make. Think about the smile on your kid’s face when you watch her soccer game instead of moonlighting at the coffee shop. Think of putting all of that credit card interest in your Roth IRA. Better yet, go to a retirement calculator and type in what you pay in interest every month as the monthly contribution to see the what your money could be doing. If none of these scenarios motivate you, then I don’t know what will. Always remember why you’re paying off debt in the first place to stay focused.

2. Repeat: “Budgets are my friend. Budgets are my friend.”

Is that an affirmation?! Ha ha! Anyhoo, some of us think budgets suck. But nah! They don’t deprive you of anything. Think more positively. Budgets (a.k.a. spending plans or financial freedom maps) help you achieve your goals quicker and easier. When you direct where your money goes, you don’t wonder where it went at the end of the month or whether you’ll reach your credit card payoff goal. You’ll know that you’ll achieve your goal in three months by paying $200 each month. You become the boss of your money.

3. Nickname accounts according to your goals.

“Savings x5678” doesn’t provide much motivation or clarity as to why you’re saving in that account. Put some respeck on that name! Change it to “Summer Disney Trip” or “Dream Home Down Payment” to keep your goals top of mind. When you remember why you’re saving, you’ll be less likely to dip into that account for jeans. Got a credit card balance you want to crush? Go to your online dashboard and change the name from “Visa x1234” to “Pay off by July.” Feel free to change your passwords to reflect your goals, too. How about $lashD3btby2020?

TIP: If you use the Bank of America app, follow these instructions. Sign in > Click on the name of the account (i.e. Bank of America Gold Visa x1234) > Click “Edit” next to the account name > Type in your awesome, new, goal-oriented nickname. > Press “Done.”

12 Tips for Staying in the Debt-Busting Mindset

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7 Reasons to Become Debt-Free

The best debt is the debt you don’t owe anymore! — Patrice C. Washington

I’ve gotta be honest. I’ve been plugging away at debt for a few years. The cost of debt really hit me when I left graduate school in 2013 and saw the colossal debt mountain obstructing my view of financial freedom. I’ll never forget opening up that first bill in my mother’s house that summer. My eyes leaped out of their sockets and my mouth dropped, forming an oval of surprise.

Almost four years later and several monthly payments of $350, I still owe more than the original balances. These federal loans are just my highest monthly payment. Small undergraduate loans and three credit card balances stand in my way of financial bliss.

I’ve known how to get out of debt for years. It’s simple:

Live below your means. Put the difference towards your debts. Don’t acquire more debt.

It’s just like losing weight. You have to burn more calories than you consume by exercising and eating well. Easier said than done. The why‘s more important than the how. 

In order to climb Mount Debt, I must always keep my why front and center so I can push through the discomfort, the days when I want to blow my budget and the nights when I want to say “Yes!” to my friends’ invitation to hang out. The motivation must be strong.

Here are 7 reasons I want to get out of debt—and stay out of debt!

7. To bless others. Right now, my natural talents are my gifts. Need someone to spruce up your resume? I’m yo’ girl. But, sorry, I can’t donate $50 to your cause right now. I’m my own cause. Ha ha! I can’t serve others the way I want with my money being tied up in debt. I can’t help the poor if I am the poor. This debt has gotta go so I can spread more than my wealth of knowledge to my community.

Reasons To Become Debt-Free

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