Behaviour Change: You can Break the Habit
Posted on Thursday, November 17th, 2011
It is understood that all behaviour can be learned as well as unlearned. In order to affect a proper behaviour change it is necessary to understand the behaviour itself. Financial behaviour is a set of patterns and habits that govern how people spend and save their money. These habits can include indulgence spending as well as gambling and investments. The patterns of these habits are an indication of the frequency with which they occur. An impulse buyer has different habits and patterns from a habitual gambler or lottery buyer but both can be equally detrimental. Social marketing training can help you to indentify these different types.
Initiating a financial behaviour change is an indication of a desire to change or improve one’s personality. Changes that come with such a program will affect various aspects of a person’s life. A spend thrift who becomes more frugal will become less inclined to buy things on the spot but also more inclined invest money for the future. A habitual socialite may engage in reckless behaviour less often when need to party is diminished by a more focused spending pattern. None of these changes occurs overnight nor are they easy to effect. They require dedication and commitment, as the changes will alter the very nature of a person and not only the way that they spend money.