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business Wednesday 16 March 2022
Millennial Money: 3 steps to breaking unhealthy money habits

By LAUREN SCHWAHN of payments through your is-
NerdWallet suer's website.
Some bad habits affect our Coambs suggests checking
physical health, like smok- in on your finances once a
ing, nail biting or eating too month or every couple of
much junk food. But others months. Review your bud-
take a toll on our financial get and behavior to de-
health. termine whether you're on
How do you know if you track to reach your goals.
have unhealthy financial 3. LEAN ON RESOURCES
habits, and what can you Breaking financial habits
do to build better ones? can be challenging. But
Take these three steps. you don't have to do it on
1. DIG INTO YOUR RELA- your own. There are people
TIONSHIP WITH MONEY and activities you can turn
Relationships with money to, "whether it's journaling or
are complex. It isn't always having a conversation with
easy to identify financially your partner or some other
unhealthy behavior. But mode of helping yourself
there are some signs you feel safe again around the
can look for. Common topic of money," Coambs
problem areas include says. There are also many
spending more money professionals who can of-
than you earn, neglecting In this June 15, 2018 file photo, twenty dollar bills are counted in North Andover, Mass. fer guidance. A financial
to start an emergency fund Associated Press therapist, for example, can
and not saving for retire- help you unpack your mon-
ment. If you're dealing with these on our money habits. That's then how do you bridge ey relationships.
Taking a financial health kinds of systemic problems, why it's also possible to de- that gap?" Davis says. "All of us have a money his-
quiz can be a good first focus on finding support. velop unhealthy habits if Setting financial goals can tory. And if your money his-
step toward detecting United Way's 211 service you're in good financial put you on the path toward tory is one where there's a
weak spots. However, our can connect you with re- shape. For example, a per- healthier habits. Your goals lot of emotional pain and
struggles don't always re- sources if you're struggling son who pays all their bills can revolve around spe- chaos connected with
flect poor habits or deci- to pay bills or afford basic on time and has plenty of cific dollar amounts, such money, then oftentimes
sion-making. Many experts needs. savings might still feel anxi- as becoming debt-free or those issues in your past
say it's important to con- On the other hand, if your ety around spending or ar- saving three months' worth need to be treated much
sider the role that systemic income should be enough gue about money with a of expenses in an emer- like any other type of trau-
issues can play in shaping to cover your expenses but partner. "Often there's that gency fund, Davis says. Or, ma," Coambs says.
financial health. doesn't, that's when you history of financial scarcity the goal might be about You may also choose to
"Not being able to get a should look at your behav- and loss somewhere in their changing your money work with a financial plan-
living wage, not having ior, Davis says. What choic- background that's unre- mindset, such as becoming ner or seek free advice on
medical insurance, having es are you regularly mak- solved that leads them to more thoughtful about your managing your budget,
student loans in a career ing, and what do you have not be able to fully connect spending or getting com- credit or debt from a non-
that you can't find a job. the power to control? with the fact that they're fortable discussing money profit credit counseling
The fact that there's no- Look for patterns. Maybe actually financially secure with others. agency.
where in this country that you shop online when now," says Ed Coambs, a Create a plan that sup- Along your journey to im-
someone who is living on you're bored or upset. Or certified financial planner ports your vision of financial proving your financial hab-
minimum wage can rent a you ignore your debt be- and financial therapist in health. Say you want to its, learn to advocate for
two-bedroom apartment cause it's overwhelming. Charlotte, North Carolina. boost your emergency sav- yourself, Davis says. "What
. Those are all systemic is- Maybe you tend to spend Once you better under- ings or make credit card that can do is reduce or
sues," says Saundra Davis , windfalls instead of using stand what's behind your payments on time. Auto- eliminate shame, about
founder of Sage Financial the money intentionally unhealthy habits, you can mating those transactions going to get help wher-
Solutions, a San Francisco because your family didn't begin to repair them. can help. You can trans- ever you might need it. If
Bay Area-based organiza- emphasize the importance 2. SET PERSONAL GOALS fer a specific amount from that means public ben-
tion focused on providing of saving growing up. Ask yourself, "Where are you your checking account to efits, if that means family
financial services for low- Emotions and experiences trying to go? And where savings each month or set and friends, whatever that
wealth communities. can have a major impact are you right now? And up minimum credit card means to you," she says.q

Cameron Smith making it harder to be overlooked

By DOUG FERGUSON Those two victories, differ- Smith hits short and That carried him to a re- longest time was getting
AP Golf Writer ent in so many ways, are a crooked off the tee, which cord-tying 10 birdies in the more attention than his
PONTE VEDRA BEACH, Fla. big reason Smith is No. 6 in has never been a good final round and a 6-under golf.
(AP) — The scoring was so the world. He has a com- combination in any era of 66, giving him a one-shot For Smith, it's all about the
low at Kapalua that it was fortable lead over Rory golf. True, he makes up for victory in the biggest golf fight and the willingness to
easy to overlook the name McIlroy and Justin Thomas it with his short game, par- tournament this side of a take on any shot.
in the record book. behind him in the ranking ticularly his putting. That major. He is the product of a
The play was so bold, bor- and is closing in on Scot- much was evident Mon- But there is more to the working-class family in Bris-
dering on fearless, at the tie Scheffler and Patrick day at The Players Cham- 28-year-old Australian bane. He was asked to de-
TPC Sawgrass that Cam- Cantlay ahead of him. pionship when he one- that can't be measured scribe the Aussie meaning
eron Smith was impossible Never mind that he doesn't putted eight of the last by numbers. And it's not of toughness, particularly
to ignore. resemble golf's elite. nine greens. his mullet, which for the the Queenslanders.q