Are you ready to improve your finances with little things you can do every day that will make a big difference? Start with our ultimate guide on how to form good habits, and then start doing at least six to eight of these daily money habits to improve your finances every single day.
Top Daily Money Habits
Implementing these money habits can help you start earning and saving more money. Here are the top habits to try today!
1. Cook
Dining out really puts a dent in your wallet. Cooking delicious, healthy foods every day will add up to thousands of dollars in savings over the course of a year.
2. Avoid Processed Foods & Drinks
Processed foods hit your finances in two ways. First, in the short run, they cost more than unprocessed foods. Second, in the long run, they will severely diminish your health, costing you tens and even hundreds of thousands in medical expenses.
3. Eat What You Need, Not in Excess
If you’ve read “Lifespan” by David Sinclair or “In Defense of Food” by Michael Pollan, you know that you probably are eating too much. (I know I do).
We actually need a lot less food than we typically consume in a day. By scaling back (such as by cutting out breakfast or dinner), you will save a lot of money and improve your health.
4. Turn Off the Lights
My parents ingrained this in me when I was a kid, and it seems that I haven’t done as good of a job drilling it into my children. We’re working on that. Simply turning off the lights is a habit that will save you money and save the environment.
5. Run Your Dishwasher and Laundry Only When Full
I know some people have a habit of running their laundry and dishwasher every day, even when they aren’t full. You’ll not only save on utility costs, but you’ll also extend the life of these expensive appliances when you run them only when full.
6. Work on a Side Business
Some daily habits will save you just dollars each year, but it’s much easier to focus on habits that will earn you more money. Start by spending just five to 10 minutes a day working to build a side hustle.
This is how I’ve built Women’s Money, starting with just 10 minutes a day. It works.
7. Do Your Best at Work
If you have full-time employment, make a daily habit of doing your best every single day.
How will this improve your finances? It will help you get a better raise, a better bonus, a better promotion, and even a better job at a different company when you are ready to make the switch.
8. Learn Something New
Find something you want to learn about that will either help you earn more at work or help you earn money on the side. Keep working every single day.
9. Do One Little Thing to Keep Your Marriage on Track
Divorce is extremely expensive. If you have kids, your marriage may end, but you will still be dealing with the divorce and custody arrangements for the rest of your life.
I’m not saying you should stay in a relationship that isn’t working (or worse). But, if you have a good relationship with your spouse right now, a great daily habit is to do something every day to keep that up.
10. Take a Short Shower
Short showers are good for your wallet and good for the environment. No, water isn’t that expensive. However, taking a shorter shower will also free up time to allow you to work on other projects.
11. Think of Yourself as a [Frugal/Generous/Prudent] Person
Identity matters. A lot. Choose how you want to think of yourself. During the day when you are making decisions about spending money, ensure that you are thinking of yourself as the person you want to be.
If you are trying to spend less money, think of yourself as a frugal or prudent person. You can also think of yourself as someone who spends money only on the items/experiences that matter the most.
12. Before You Hit Buy, Consider Whether You Need It
Amazon Prime, Target Drive Up and Delivery, and Shipt have made it incredibly easy to add items to your cart and hit buy.
Another great daily financial habit is to add something to your cart, then come back to it later that day (or even the next day) and consider what you have in your cart is a need or a want.
13. Be Efficient With Your Driving Trips
Cars plus gas and insurance are a huge line in most budgets. With increased work from home and easier delivery, try to cut back your daily driving to only when you need to go out and follow an efficient route.
14. Brush and Floss Your Teeth
Going to the dentist is expensive. Going to the dentist for a root canal is even more expensive and painful. Save on your dental bills with daily brushing and flossing.
15. Exercise
Here are 5 ways exercise will help you grow rich. Exercise daily to improve your finances even faster.
The Bottom Line
Changing habits isn’t easy, but it’s worth it. By implementing even just a handful of the daily habits above, your financial situation will begin to gradually then quickly improve.
Suggesting that people cut out meals as a way to save money is exceedingly dangerous advice.
Cate – thanks for the feedback. Every person should certainly check with their doctor before making any changes to their eating/exercise routines. However, there is really robust evidence on time-restricted feeding as being excellent for health. Check out the work of Dr. David Sinclair (out of Harvard). This is something that is new to me, and isn’t so much about weight loss, but that it provides your body the time needed to reset.