Break the Habit

reset_buttonRecently I’ve had a few Money for Life Coaching clients that have developed a habit of resetting their Mvelopes account whenever they get a little behind.  Instead of spending some extra time to get things caught back up and balanced out, they just simply erase it all and start over.

While starting over may seem like a great idea, this behavior is little bit like hiding your head in the sand.  Instead of learning from their spending habits and working to live within their income and their envelope balances, they are just cleaning everything out and pretending that it didn’t happen.

If you get behind in your Mvelopes account, or you over spend in a few areas… don’t hide your head in the sand.  Break the resetting habit and learn from your previous spending.  Use it as motivation to not get behind again and as motivation to log in more often so that you don’t overspend again.

One of the keys to not overspending is to know what your envelope balances are at any given time.  If you know how much money you have left to spend in each envelope, you can make informed spending decisions.  Logging in to Mvelopes frequently and keeping everything up to date will keep your information up-to-date and your envelope balances accurate.

If you get a little behind, spend some extra time and get caught up as soon as possible.  If you overspend in one area, transfer money from other envelopes until there are no negative balances. Only then will the information in Mvelopes help you build a more stable financial future.

Jennifer Streiff
Money for Life Coach

[photo courtesy of flickr / CC BY-SA 2.0]