HOW TO GET MONEY MOTIVATED: Tips for a Healthier Lifestyle and Healthier Pockets / By Christi Wright

By Christi Wright One of my favorite sounds is hearing the ATM churn as it is getting ready to dispense money. For you to also enjoy this luxurious sound, we must first make sure that you have healthy pockets! One way to start having healthy pockets is to avoid impulse purchases. CNN Money reports that “five out of six Americans make impulse purchases and 20% who have gone this route admit to spending $1,000 or more on a whim.” How can you solve this problem? Implement the 24-hour rule: if you want to purchase an non-essential item, wait 24 hours before buying it. Crystal Bailey, an accountant at Northern Trust Bank, stated during an interview, “Whenever your purchases are not in line with your overall financial goals, they more than likely will work against your goal. Financial success does not happen by accident. It is the result of focused spending and strategic planning." Another healthy tip is to set up a savings account and put at least 10% of your check in your savings. According to “The Motley Fool”, the average person saves only 5.5% of their income. However, this percentage is not likely to be enough for the average person in case of an emergency. When I interviewed my friend Isis Zollicoffer, a student at Central Michigan University, she stated that “having a savings account helps me sleep better at night, because I know that I have funds if an unexpected emergency occurs.” Having healthy pockets can lead to a healthier lifestyle because it can prevent you from stressing about situations like not knowing if you’re going to be able to pay your credit card bill on time because you spent too much money last Friday night. Get money motivated and make better financial decisions. The time is now!