Draft a financial vision board

You need to be money motivated to start adopting better money habits, and if you craft a vision board, it can help remind you to stay on track with your financial goals.

Set specific financial goals

Use numbers and dates, to describe what you want to accomplish with your money. How much debt do you want to pay off and when? How much do you want saved, and by what date?

Adopt a spending mantra

Pick out a positive phrase that acts like a mini rule of thumb for how you spend. For example, ask yourself, “Is a new TV better than paying off some of my debt or saving for education?” or “I only use my credit card for emergencies.”

Make bite-size money goals

The farther away a goal seems, and the less sure we are about when it will happen, the more likely we are to give up. So, in addition to focusing on big goals (say, buying a home), aim to also set smaller, short-term goals along the way that will reap quicker results, like saving some money each week in order to take a trip in six months.

Have positive money thoughts

If you psych yourself out before you even get started (“I’ll never pay off debt!”), then you’re setting yourself up to fail. So don’t be a fatalist, and switch to more positive mantras.

Learn how to savour

Savouring means appreciating what you have now, instead of trying to get happy by acquiring more things.

Get a money buddy

Friends with similar traits can pick up good habits from each other and it applies to your money too! So, try gathering several friends for regular money lunches.



Until next time.

The MoneyShop Team


This article has been prepared for information purposes only and it does not constitute legal, financial, or medical advice. The publication, journalist, and companies or individuals providing commentary cannot be held liable in any way. Readers are advised to seek legal, financial, or medical advice where appropriate.