Need To Read Instead Of Listen? (episode word for word)

Are You An O.P.P Part 2 Transcript

[00:00:00] AttiQuewa: Hey, welcome to part two of the three-part mini-series of how to minimize your money. O.P.P. The first part, we talked about how to minimize your money overthinking. And in that case, just for a quick recap, I told you that one, you should definitely start from scratch. Pretty much leave behind everything that you thought you already knew because you're probably information hoarding, which is causing problems with your money.

[00:00:22] Number two is you need to figure out what's your money personality is whether you are active or passive money personality, and then three, you needed to find some financial resources, whether it's on social media, YouTube, Pinterest, wherever you can find them that fit your ideal goals. The lifestyle that you're currently living who you are and what you're trying to accomplish.

[00:00:46] Now. The biggest problem with procrastination is nine times out of 10. It starts because you don't actually have a routine. Some may argue that the routine may actually be procrastination, which you know, [00:01:00] that can very well be the case, but that's not what we want right now that we've pretty much figured out everything in part one we can build a routine.

[00:01:08] So one of the easiest formulas I found to creating a routine. It's something called the habit stacking plus temptation bundling formula. This is something that we read in the wealthy women's lounge in the atomic habits book by James clear. The formula is simply this. After I current habit, I will habit I need.

[00:01:30] And after habit I need, I will habit I want. So let's say for example, that you have a goal of getting better with your budget, understanding your numbers on a day to day. So you can minimize your financial bleeding right now. In this case, it may sound like an active personality habit that I'm about to mention, but it's not because we're not sitting here studying our numbers all day, every day.

[00:01:59] [00:02:00] It's five minutes of your day. And it's literally just becoming part of a simple. Morning routine. So let's say after I eat breakfast, your current habit. I will look at my budget for five minutes. So I can know what's due, what I'm starting the day with, and what I plan on spending on things that aren't due.

[00:02:23] Habit you need. After I look at my budget for five minutes. I will then.

[00:02:29] Make my iced matcha latte. The thing that you want. Right. It keeps it simple. It's the habit stacking formula. Plus the temptation bundling formula that makes things so much simpler. And the great thing about this is it's allowing you to create a routine. That is easy for you and it's customizable to the lifestyle and the ideal person that you are trying to become. So you can minimize your money issues.

[00:02:57] Let's use another example.

[00:02:59] Let's [00:03:00] say after I change my work clothes on Thursdays, your current habit. I will sit down with my spouse to talk about our money goals for the month habit you need. After I sit down and talk to my spouse about financial goals for the month. I will catch up on my show for the week habit I want. So this formula. Is allowing you to still live your life while also incorporating the things that you are trying to build into your life.

[00:03:36] Because this formula is allowing you to create a routine it's going to help you minimize your procrastination because the more you get into this routine, The easier it will become for you to do on a daily, weekly basis, depending on the schedule you're setting for yourself. Then an extra bonus thing that you can take into consideration another thing that we talked about in the atomic habits book, [00:04:00] in which if you haven't read that book, I highly recommend that you read it. It is game-changing.

[00:04:05] You need to create a two-minute rule for yourself. So on top of the habit, stacking formula, plus the temptation bundling formula. You are going to create a set of two-minute rules for yourself to set yourself up for success for this formula. So let's go back to the example of, you know, what, I want to look at my budget before I go to work every day. Okay.

[00:04:30] Well, the two-minute rule is pretty much saying that everything you do needs to be less than two minutes to get you started doing your habit. So. This could easily be I'm going to put my financial planner on the kitchen table because that is where I normally eat breakfast in the morning. So that way it's easily accessible. I don't have to hunt for it or search for it through the house, causing me to delay the action of me wanting to finally build the budgeting [00:05:00] habit or staying on track of my numbers habit, right? Less than two minutes for me, let's say, for example, my financial planner is typically, always in my office. If I wanted to build the habit of, after I eat breakfast, I then look at my financial planner. I'm going to come into my office, grab my planner, throw it on the kitchen table.

[00:05:18] No more than 15 seconds. Right?

[00:05:21] Then let's say with the spouse conversation.

[00:05:26] An easy two-minute rule for that is okay. You have the clothes that you normally change into laid out already in the bedroom. You throw those on and you immediately head out to the living room or wherever you and your spouse have those conversations took you about two minutes to get your clothes changed.

[00:05:41] Or it can be something like when you're pulling in the driveway, you send your spouse a text, Hey, I'm coming in the house. I'm about to change my clothes, let's sit down and have this conversation now. Something like that. It's something quick to trigger the action getting done or starting to get done [00:06:00] instead of saying, oh, I'm going to read a whole book. I'm going to read one page. It's those baby steps to get you started. And it takes you less than two minutes to get it done.

[00:06:10] So with that being said, the two things that I would recommend you do to help you minimize your money, procrastination is create your own set of habit stacking slash temptation bundling formulas. And create a set of two-minute rules for each habit that you are trying to implement into your finances. So again, the habit stacking temptation formula is after I current habit, I will habit I need. And after habit I need, I will habit I want.

[00:06:42] Then the two-minute rule is simply what is something that I can do that's less than two minutes that will help me get the ball rolling on the habits that I'm trying to create.

[00:06:52] I hope you found this tip helpful. If you have any feedback or you just want to tell me how much you love this tip, feel free to send me a [00:07:00] text message and I look forward to giving you your next tip. Talk to you later. Bye.