• Wed, Jan 23 2013

The Secret to Breaking Your Bad Money Habits (No, Really!)

130125-pinterest-190x130It all started when New York Times reporter Charles Duhigg couldn’t understand why he had trouble sticking with an exercise routine.

“I felt like I was a fairly successful, intelligent person, but then there were all these things I didn’t have all the control I wanted over–like making myself eat healthfully or exercising as much as I should have,” Duhigg says.

So like any good reporter, he started doing some research. “And I realized that we’re living in this golden age of understanding the neurology of how habit formation works, and why patterns emerge within our lives,” he says.

So he wrote a book about it: “The Power of Habit: Why We Do What We Do in Life and Business.” We sat down with Duhigg to talk about common habits in our financial lives–as well as how to deal with bad ones and create some good ones.

LEARNVEST: WHEN MOST PEOPLE THINK ABOUT THEIR BAD HABITS, THEY LIST ONE OR TWO THINGS, BUT ACCORDING TO YOUR BOOK, PEOPLE ACTUALLY HAVE HUNDREDS. REALLY?

Duhigg: “Yeah, a researcher found that 40% to 45% of what we do every day isn’t actually decision making, it’s habit.”

To finish reading this post, head on over to LearnVest.
To finish reading this post, head on over to LearnVest.

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