So you want to change your saving and spending habits? MP Dunleavey shares her seven stages of lasting financial change.
Sometimes I feel like I’m not making enough progress in changing my habits, particularly when I splurge on a $400 camcorder for myself, like I did last month. (To be fair, I’ve held off on this purchase for ten years, since my family’s last camcorder bit the dust.)
In the article, MP mentions five stages that one must pass through to make any change successful:
* precontemplation (”There’s a problem. Things could be worse.”)
* contemplation (”There’s a problem. Maybe I’ll do something about it someday.”)
* preparation (”There’s a problem and I’m going to do something about it.”)
* action (”I am doing something about this problem.”)
* maintenance (”I fixed the problem, now I don’t want to go back into the old habits.”)
In addition to these five phases, the seven steps are interesting as well: panic, determination, cluelessness, confidence, despair, renewed faith, and success.
Some of those steps may need to be repeated, but with this knowledge, attaining lasting financial change should be easier.
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