As the saying goes, you can tell a lot about a person by the company they keep. Whatever the discipline, when you surround yourself with people that are experts in their field, you will naturally learn from them and become more like them. This is one way to easily change your daily habits - by surrounding yourself with the people you want to become.
When referencing this habit, most will think of their careers, fitness habits, eating habits, or other goals. You should also consider this for your finances.
Think of it this way, if you are always around friends or family that spend every last dollar they earn (or more), then you may adopt those same habits without thinking twice. This goes for shopping, eating out at fancy restaurants too often, traveling to expensive locals, and more.
What if you surround yourself with individuals who are focused on improving their financial life by investing, spending mindfully, and simplifying the seemingly complex? Thanks to the internet, it is easier than ever before to find your financially savvy friends.
A quick search of Meetup.com shows me there are a number of different groups looking to improve their finances. From real estate investing groups, entrepreneur groups, Amazon resellers groups, eBay strategists and more. These are the types of people who enjoy connecting in person and learning from each other on a regular basis.
On the flip side, what if your best friends don’t share your same financial priorities? No need to cut them out entirely. You can easily suggest the next time you get together be at a free community event, or for a dinner and bonfire at your house. Finding new and creative ways to spend time with your friends other than at expensive restaurants could boost your relationship even further.
The internet provides an endless array of investing focused groups and beliefs. To me, as a believer in the benefits of investing in low-cost index funds, a group like Bogleheads is where one might start. On Bogleheads (a group formed as followers of Vanguard’s founder Jack Bogle), a never ending forum of personal finance and investing questions are asked and answered by the community every day. By getting involved in forums like this, you will quickly learn the habits that have made these members financially independent (or well on their way).
Online & Local Friends
Having communities to connect with both online and in person are great, but what if you could combine the two? Two groups that immediately come to mind are Mustachians (readers of the Mr. Money Mustache personal finance blog) and The Minimalists (a blog about the benefits of living with less stuff). These blogs have millions of active readers every month plus the added benefit of local meetups. This way, you can connect online to a larger audience, then meet in a small local group to connect in person.
It isn’t easy finding your tribe, but when you do, it is powerful. I have personally experienced this over the past year with a personal finance bloggers group. FinCon is an online community of personal finance bloggers, plus we have a local meetup here in Nashville. We get together on a regular basis to talk about personal finance and running an online business. This group has taught me so much in just a short period of time.
Do you struggle with improving your finances, and are constantly around those friends that seem to have endless money or just don’t care about saving for the future? Look around to both your local community and online forums to find a group that you can connect with. By surrounding yourself with a group of people that are also interested in improving their financial life, you will naturally learn from and become more like those individuals.