In this week's Arista Advice, Paul L. Moffat of Arista Wealth management talks about building habits and the Atomic Habits by James Clear.
I recently finished a book by James Clear titled Atomic Habits, and it’s been on my mind since I finished reading it for many weeks. There’s a quote in there that’s really lingered in my mind, and I want to share it with you today. James Clear says “Your outcomes are a lagging measure of your habits. Your net worth is a lagging measure of your financial habits. Your weight is a lagging measure of your eating habits. Your knowledge is a lagging measure of your learning habits. Your clutter is a lagging measure of your cleaning habits. You get what you repeat.”
One of the things that sticks out is the importance of having a financial budget. We help many wonderful clients on a daily basis. Those that earn $2,000 a month and some that earn 1 to 2 million dollars a month. What we have found is whatever you earn is immaterial to your budget.
Please have a financial budget. Have a formal process of looking at your numbers, evaluating your numbers, becoming informed of your income and your expenses. As you are aware of that, you can make changes and adjustments, and you can have a successful financial future. Hope this quote makes you understand the importance that things are changeable, and there are many things that are within our own control. As we understand that habits drive the outcome I think we’ll all be better.