Break the “money in, money out” pattern in your life

Notice how you feel about huge sums of money
How does it make you feel when you receive a huge amount of money, like your tax returns, a bonus check at work, or a sudden inheritance? Do you feel like you don’t deserve it? If that’s the case, why do you feel that way? Pause and reflect on this feeling to resolve it.

Notice what you do with huge sums of money.
What do you usually want to do every time you receive huge sums of money? Do you think of spending it all on perishable things, or do you think of investing some of it? Squash the idea of spending it all at once, especially on things that don’t last or generate income. If you’re clueless about what to do with it, then you need a plan for your finances.

Make a financial plan.
If you don’t have a plan for growing your wealth, make one, even if it’s just saving and investing for compound interest. This will give you an overview of what to do with sudden windfalls that may come your way.

Don’t make big financial decisions when you’re stressed.
When you experience strong emotions like fear or greed for money, stop, take a break, and ask yourself if what you’re about to do is in line with your financial plan. If you’re not in a good frame of mind, ask a trusted friend or mentor for some advice.