You’ve probably heard it said at some point that the best day to plant a tree was 20 years ago, and the second best day is today. The obvious takeaway is that what you should have been doing for years shouldn’t be delayed another day. Start now and forget the past.

When it comes to your financial life, who are you listening to? Are you listening to anybody at all? Do you have a trusted advisor? Do you take advice from people who are doing better than you are financially? Or do you tend to listen to people in the same financial place as you?

Overcoming Bad Financial Habits with Good Financial Influences

Start Asking Questions

How are you determining who will have authority or influence in your financial life? 

If you are currently working with a financial advisor, it’s still worth taking a serious look at what they’re doing for you, how much you’re paying for their fees, and what needs to be done to better prepare for the future. It could mean going back to the beginning with them. 

If you’re not working with a financial professional, it’s time to find one. But that doesn’t mean you should simply choose one. You should interview them. You should ask them what you can expect from them, what their perspective is on your current financial situation.

And then, you should ask questions. How are you doing? What can you be doing better?

Start Listening

The point here is that you create a habit of listening to good advice. Financial voices that are telling you to take on more high-interest debt or take unnecessary investment risks are ultimately going to fail you. The right voices will be thinking about your future and helping you think about yours. 

Start by taking what you learned from the questions you ask about how you’re doing, what’s working, what isn’t, and what you could be doing better. When you’re interacting with people who are in a better — or further ahead — position than you, ask them if they’d mind sharing some thoughts with you. How do they determine how much to donate, to save, and to spend? What habits have they built into their lives to limit unnecessary spending or prepare for rainy days? 

The financial wisdom you have access to does nothing if you don’t apply anything you hear. So listen to the good ideas being shared with you, and do something with them. 

Retrain Yourself

It may mean you have to cut out some recreational activities or some unhealthy relationships. It may mean that your definition of “spontaneous” goes from a weekend trip to the Caribbean to a weekend trip to the bookstore. It may mean less for now so that you can have more later. 

Any time you train your mind and body to take up new habits — good habits — you’re going to face resistance. It will be an uphill climb and you’ll be forced into some significant discomfort. But there’s an old adage that says, “Live like no one else now so that you can live like no one else later.”

The financial voices in your life are having a significant impact on your financial trajectory. Your attitude toward money, your potential, your responsibility, and your possibilities are all heavily influenced or even determined by those you listen to. So you should find wisdom, listen to it, and apply it. It’s how you’ll be able to overcome bad financial habits and get on a better path forward.