20 Laws of Money Wellness
Overcoming distractions that stand between you and money goals
A three part series
Money wellness is a lifelong pursuit. This article is written to help you launch your money lifestyle using coaching techniques I’ve shared with investors. In this three-part series we focus on habits, mindset and your future and how to keep distractions from preventing your financial destiny.
1– Controlling Money is a lifestyle
Distraction: It’s easy to view money habits as short-term, something you do in spurts and not consistent and lifelong. Good money habits become second nature when practiced regularly.
2– Budgets are the secret
Distraction: Spending without control ranks in the top 2 mistakes made with money. Not knowing how much is too much to spend is a dangerous habit to avoid.
3 – Have a life partner whose money habits are similar to yours
Distraction: Money squabbles are the #1 reason the divorce rate in the U.S. is 50%
4 – You have something to do with fate
Distraction: Having the belief that we have no choice, good decision-making or the ability to change can defeat financial objectives from ever being set.
5 – Invest now
Distraction: Thinking “I’ve got time to start saving/investing later” is a common mistake. A great habit of successful investors is that they start early and invest regularly. Smart investors know that it’s time IN the market not TIMING the market that matters. So don’t wait.
6– Focus on longevity NOT a retirement date
Distraction: Being tied to a single date is not wise. Your money must last 20+ years after your retirement date. Having a focus on investing for decades instead of one day in the future is best.
7 – Use SMART financial goals: Specific, Measurable, Achievable, Relevant, Time-bound
Distraction: Not tracking progress prevents you from knowing if you’re on the right track and if what you’re doing is working. SMART goals provide several ways to track your achievement.
8 – Investing is for long-term; Saving is for short-term
Distraction: Misunderstanding this simple distinction can lead investors to choose the wrong kind of investment for financial goals or worse can lead to being too conservative with long-term investments or too aggressively invested for short-term objectives.
9 – Investing is about making a future
Distraction: Thinking investing is about buying a hot stock, last year’s #1 fund or choosing your 401(k) allocation by last quarter’s best performers. 
 Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss. This information is not intended to be a substitute for specific individualized investment planning advice as individual situations will vary.