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Analysis and Accountability

Have you ever had an experience where as you observed someone’s behavior you said to yourself, “Man, if I ever have the chance to do what So-and-so is doing, I’m doing it TOTALLY different than he is!” I’m sure we have all thought that at one time or another. In fact, I had a similar thought while reading Step 6: Adopt a New Lifestyle of Healthy Eating in Kingsford’s book “Brain-powered Weight Loss." (If you’ve just joined us this week and are curious why I’m talking about a weight loss book in a financial blog, go back to the beginning of 2021 and read “Start with the End in Mind.”)

Kingsford mentions making small changes, adopting only her first two healthy eating principles to start and then adding one at a time to get yourself comfortable with your new relationship with food. She says, “In…studies, people who successfully achieved weight loss did not try to change everything at once. They mastered one new skill, then layered on another, then another.” Well, that might work for weight loss, but it is NOT, I repeat, NOT how I would suggest changing your financial habits.

Baby, just rip off the band-aid.

But just because I disagree with that aspect of behavior control doesn’t mean that I didn’t find something useful in this particular chapter. I am totally on board with her Principles numbers Two (Self-Monitor with Scrutiny) and Three (Be Caloric Conscious at All Times). Why these two, you ask? Because they’re all about tracking!

It is IMPERATIVE that you record everything you spend. Whether you use a notepad and pen or an app on your phone does not matter. What does matter is that you know where each and every penny is going because once you know that, YOU can decide what to change and eventually where to responsibly direct your money instead.

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