Habits are formed when you do something repeatedly without thinking about it. This is beneficial when it yields positive results like automatically contributing to savings and retirement. But when the habit threatens your financial security, there are three things you may want to look for: your cue or trigger, a routine, which is a particular behavior, and a reward.
You can become triggered by anything like; a particular scent, tone of voice, a location, and other people. Usually, the trigger reminds you of an unpleasant experience, and as a result, you form a habitual way of trying to cope or manage your feelings. In this case, it is important to identify the pattern of behavior so you can create ways to prevent it from derailing you. For example, I sleep a lot when I am feeling stressed and overwhelmed, it's my coping mechanism for not wanting to deal with the feelings. The reward is"temporary avoidance", until I am forced to confront what's causing me stress. This can mean I might procrastinate submitting a big proposal, which could potentially jeopardize my business and earning potential. To overcome this bad habit, I plan out my projects and give myself enough time to work on various elements without feeling overwhelmed with trying to get it all done at the last minute...usually!
How do your habits and triggers impact your life and sense of financial security?