Setting big financial goals, like getting out of debt or saving for a home, can be daunting. But what if you usher in 2019 by focusing on one small change that could result in big gains financially?
Start by picking one thing you’d like to spend less on.
Then, take a moment to be curious about the reasons for the desire to change your spending habit. Do you think your curiosity will help you be more successful in making your one small change, rather than if it was a New Year’s resolution?
The answer to the latter is yes, and we’ll explain why below. In the meantime, here are some examples of small changes that yield big differences over a year:
What does curiosity have to do with change?
While change can be hard, curiosity — according to top mindfulness researcher Dr. Judson Brewer — feels good. So to effectively change a habit, you should enjoy the process by being curious about why this habit exists.
In his TED talk, Dr. Brewer suggests that you first observe yourself acting on the impulse to do the thing you want to change, then get curious! Ask yourself:
- How does it feel?
- What triggered the impulse?
- What satisfaction does it provide?
- And for how long?
How can we apply mindfulness to changing financial habits and saving money?
If you’ve identified an area in which you believe you’re overspending, you’re already most of the way there because you don’t need to justify the need for change.
Take late fees as an example. Step back and be curious about why your habitual routines cause payments to be late, and penalties to occur. From there, take achievable steps to fix that one habit — perhaps by scheduling their payments when they arrive.
And there’s your small change.
Conventional wisdom tells us that if we want to achieve a goal we must try harder and work harder, but perhaps we can make those New Year’s resolutions stick by trying softer!
Let’s get started!
Track your spending and monitor progress on your small change with PocketSmith, one of the sharpest money management tools on the Internet.
The team at PocketSmith would love to help you get there, so if you sign up for an account and tweet or Facebook your small change to us, you could stand to win an upgrade to a one-year Super subscription worth $169.95. For example:
Hey @pocketsmith! My #SmallChangeBigGains will be buying fewer coffees each week, therefore saving $700 in 2019.
PocketSmith will pick ten of the best entries on January 9 and announce the winners on Facebook and Twitter, so get creative and share your tips! Remember to sign up and use the #SmallChangeBigGains hashtag to qualify.
As a bonus, if you sign up for PocketSmith from here, you will get half price off the first two months of PocketSmith Premium. Plus you’ll receive an email guide designed to help you track and make your #SmallChangeBigGains
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