Although it may seem a simple exercise of putting money away and letting it accumulate to more significant amounts, it always becomes cumbersome to put into practice. Saving has been a major issue in my life, and it is necessary to dedicate myself to creating a habit around the issue. There is always a product or an activity that seems so tempting to break from the earlier-set goal. Such temptations have in the past led to distraction to the creation of a lifelong habit of saving money. A habit requires dedication and the ability to suppress own thoughts, feelings, and actions that would otherwise make a person go astray and focus on other aspects. The focus on the development of a habit of saving money will be achieved through taking control of own mind and making the necessary steps in the achievement of desired outcomes.
Habit formation is defined as the process in which behaviors are automated and are formed without the person intending to acquire the habit having to cultivate them much. The habit of saving money is something many people would want to have since having money is essential for the achievement of different life goals. However, there are always insatiable desires in life that push people to break up on the earlier set and saved funds. Additionally, it may be easy at first, then become difficult when problems start accumulating. In this context, learning the art of forming a habit and sticking to it is crucial for many people.
Acquisition of a new habit or skill starts with a strong desire to change from the state a person was in and move toward the desired direction. Clear (2018) notes that a person is made of systems that should be broken in order to come up with the right actions. The system may be former bad habits or a certain mindset inhibiting a person from coming up with new ways of doing things. Breaking up from ways of getting money and instantly setting the funds for consumption or expending on sometimes unnecessary products may be an issue one should identify and formulate ways to break loose from them. The National Institute (NIH) (2012) notes it is tough to break from bad habits but breaks down five ways a person can follow and achieve good results.
First, it is essential to avoid tempting situations; in this case, one may avoid areas they spend the most. The second way is replacing expenditure behaviors with saving. For example, one may consider making saving for a vast project instead of small expenditures. Mind preparation is essential. Mind preparation requires having self-control as they have a direct relationship with saving behavior. Inhibitory control needs to be practiced, which entails having the ability to suppress the desire to make a purchase (Peterson et al., 2017, pp. 135-136). The other suggestion is to enlist support from experienced community stakeholders. There are many people in society with experience in how to save funds. When one wants to develop such a habit, it is crucial to seek help from such individuals as they would guide on how to overcome inhibitors. The fifth way is rewarding oneself for small steps or wins achieved along the way (NIH, 2012). As one makes specific steps in saving, such as reaching a certain level, it is crucial to reward oneself with something like an outing to keep on track.
The underlying evidence on how an individual may change their habits by taking small steps may be helpful in the achievement of saving habits. Firstly, the ability to control own instincts and desires to spend is the first step towards stopping bad habits. Inhibitory control is essential in the human mind as it enhances the focus on other essential or existing aspects of life rather than the habit one is trying to disentangle from. Recognition is something in the human mind that will always help increase activities toward the achievement of the right results. One may even engage with a partner in the journey to the development of a saving habit. The partner would make an individual realize the steps they have made and offer rewards. Additionally, the partner may psyche one up, which will lead to faster achievement of the positive goal. Saving is a great habit that will help an individual achieve bigger goals in life and have a safety net for rainy days.
References
Clear, J. (2018). Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones. London: Penguin Publishing Group.
NIH. (2012). Breaking Bad Habits: Why It’s So Hard to Change. Retrieved from News in Health: https://newsinhealth.nih.gov/2012/01/breaking-bad-habits
Peterson, G. R., Slyke, J. v., Reimer, K., & Spezio, M. (2017). Habits in Mind. New York: Brill.
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