Applied knowledge is power, but using antiquated behaviors with renewed knowledge defeats the purpose of putting in the time to learn.  It is essential for an individual to spend a significant amount of time focusing on changing their current behaviors that are causing them to lose traction in managing their finances well.  What do I mean?  If your goal is to start an emergency fund, children’s college fund, start a business, save for a car or home and you find yourself food shopping four times a week or getting that coffee every morning at Starbucks.  Perhaps you should consider making some changes to your routine.  It could be that you are debt-free, but continue to have more months than money.

My suggestion would be to seek out a professional to help you to identify those problems areas and assist you with a solid strategy that involves behavioral changes.  Cutting expenses is only one of the essentials needed on the path to financial wellness and freedom.  In addition, creating a second or sometimes a third stream of income would greatly help your situation.  Many times, earning more income coupled with cutting expenses in some cases could be the answer to an individual’s situation.

Remember that personal finance is 20% head knowledge and 80% behavior (Dave Ramsey).  Behaviors should not be eliminated, but bad ones should be replaced with good ones.  The point is that once you have gained the knowledge on what to do, make a conscious effort to change.

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