Posted by Mike Smith :: September 5, 2008 @ 9:11 am

When trying to break any bad habit, relapses are likely to come into play. Poor financial habits are no exception. Keeping those relapses short will minimize their impact and keep you on track towards your financial goals.

The truth is that good habits are usually more difficult to keep up than bad ones. One of the side effects of this notion is that an occasional good habit isn’t likely to break a bad one, but an occasional bad habit can easily break a good one. Giving yourself a taste of an “easier” way may be all that it takes to make you want that all the time. As anyone addicted to a bad habit can tell you, even though the habit seems easier at the onset, it usually makes life more difficult in the long run.

By keeping relapses as short as possible, you don’t allow yourself to get used to your old way of doing things. With comfort comes eventual acceptance, which means you might get stuck living with your bad habit. Allowing for small relapses may inspire you to reach your goal, as long as they are kept short. All of your hard work should be rewarded. Ideally you would reward yourself with something other than the habit you’re trying to break. Those trying to get out of credit card debt might try rewarding themselves by investing the money they saved. While not as exciting as a small shopping trip, it shows that joy can be found in other ways. If a shopping trip is the only way for you to feel rewarded, keep it small and try to pay cash.

It’s important to remember that relapses will likely be a part of your transition from a bad habit to a good one. Rather than feeling guilty about it, try to understand that it’s part of the improvement process. Knowing in advance that relapses are to be expected, you can be ready if they do occur and in a strong position to keep them as short as possible.