Exercise: The power of habits in personal finance
Exercise description:
Reflect on the story of the ham. This story perfectly illustrates how we often repeat certain patterns – not only in the kitchen, but also in finances – without reflecting on whether they are effective for us in our current situation. In Poland, you may come across new rules and expectations regarding money, so it is worth being aware of your habits.
Answer the following questions and write down your thoughts:
Questions:
- What do you think of the story you read? Do you encounter similar ’roundabouts that were too small’ in your life, especially in the context of finances?
- My thoughts: …
- What household budget management behaviours do you repeat from your mum and your dad? Is how they managed money still relevant and helpful to you in Poland?
- My behaviours repeated from my parents: …
- What financial actions do you routinely perform without thinking? (e.g. you always buy your coffee at the station, you shop at the same shop even though it is more expensive, you don’t check your bills)
- My routine financial actions: …
- What do you plan to change about your finances after reading the story? Did the ham story open your eyes to a habit you want to change?
- What I plan to change: …