Why you should take 20 minutes to make a list of financial habits you’d like to form

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Habits make up around 45% of our daily behaviors, according to research from Duke University. No matter what your larger goals are, forming habits that align with them is integral to achieving them. That goes for your money as well.

Today, take 20 minutes to consider financial habits you’d like to form. It could be saving more consistently from each paycheck, tracking your spending or simply checking your bank account balances each morning.

Whatever you do, start small, experts say. Just as you can’t lift 100 pounds without building up your strength, it would be difficult to transition from saving nothing to saving $1,000 each month. Habits take time to form, and hitting smaller milestones can be motivating.

“When you go tiny, you don’t need to rely on willpower or motivation,” BJ Fogg, founder of Stanford University’s Behavior Design Lab, wrote in his book, “Tiny Habits: The Small Changes that Change Everything.” “Tiny will grow bigger, just like a seed grows into a tree.”

Consider which habits will be easier to form now that you are spending less of your time out and about and use your home-bound state to your advantage. Here are some ideas for financial habits to test out now:

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