My grandad, a wise old man with a heart of gold, used to tell me, “If you want to be rich, act rich.”

But let’s be real for a second.

Being rich isn’t about buying expensive things or flaunting wealth. It’s more about financial security, having enough money stashed away for a rainy day, and not having to worry about the bills as you grow older.

But, truth is, achieving this level of financial security is easier said than done.

Why is that?

You may not know it, but there are certain behaviors that could be pushing you away from your financial goals.

So, if you’re asking yourself “How can I be more financially secure as I age?”, it’s time to take a closer look at these seven behaviors that you should wave goodbye to.

1) Impulsive spending

Now, who doesn’t love a little retail therapy?

I’m guilty of it too. Spot a pair of shoes that you absolutely must have, and before you know it, you’ve handed over your credit card.

But have you ever stopped to think about how these little purchases add up over time?

Impulsive spending can be a major roadblock on your path to financial security. It’s like a hole in your wallet, constantly draining your hard-earned money on non-essential items.

So, the next time you’re tempted to splurge on something you don’t really need, take a moment. Ask yourself, “Do I really need this? Or is it just a want?”

Believe me, your wallet will thank you for it.

2) Not setting a budget

I’ll let you in on a little secret.

Years back, I was terrible with money. My paycheck would come in, and before I knew it, I’d spent it all. I had no idea where my money was going, and saving was like a foreign concept to me.

Then someone suggested I try budgeting.

At first, the thought of tracking every penny seemed tedious and boring. But I gave it a shot, and boy, was I surprised!

Setting a budget was a game-changer. It helped me see exactly where my money was going each month, and suddenly, saving didn’t seem so impossible anymore.

So if you’re struggling to keep track of your finances or save money, give budgeting a try. It might be tedious at first, but trust me, the rewards are well worth it.

3) Ignoring your debts

Here’s a hard truth – debts don’t disappear on their own.

In fact, they’re like uninvited guests who refuse to leave, constantly lingering in the back of your mind. And the longer they stay, the more they eat away at your peace of mind… and your financial security.

I had a friend who was once drowning in credit card debt. The interest kept piling up, and he felt like he was stuck in a never-ending cycle. But instead of facing his debts head-on, he chose to ignore them, hoping they would magically disappear.

Spoiler alert: They didn’t.

It wasn’t until he decided to face his financial fears, come up with a repayment plan, and stick to it, that he finally managed to free himself from the chains of debt.

So don’t turn a blind eye to your debts. Face them bravely and tackle them head-on. It’s not going to be easy, but nothing worth having ever is.

4) Keeping up with the Joneses

We all know the Joneses, right?

That family down the street with the fancy car, designer clothes, and the latest gadgets. It’s hard not to feel a twinge of envy.

But let me tell you something. Trying to keep up with the Joneses is like running on a hamster wheel. You’re constantly moving, but not really getting anywhere.

Sure, it might feel good to show off that new smartphone or flaunt that luxury watch. But at the end of the day, these are just material possessions. They won’t fill your bank account or contribute to your financial security.

Remember, real wealth is not about having the most toys, but about having financial freedom and peace of mind. So don’t waste your money trying to keep up with others. Instead, focus on building your own financial future.

5) Neglecting to invest

Here’s something to ponder.

Did you know that if you invested just $5 a day in a low-cost index fund that averages a 7% annual return, you’d have almost $1 million in 50 years?

That’s the power of investing and compound interest.

Investing might seem a bit intimidating if you’re not familiar with it. Stocks, bonds, mutual funds – it’s like a whole different language. But once you start learning and dipping your toes into the investment world, it opens up a whole new realm of financial possibilities.

So don’t let fear hold you back from investing. Start small if you need to, but start. It’s one of the most effective ways to grow your wealth and secure your financial future.

6) Being too hard on yourself

We’ve all been there, haven’t we?

Made a financial blunder, missed an investment opportunity, or overspent on something we shouldn’t have.

And then the guilt sets in.

But hey, it’s okay. Everyone makes mistakes. It’s part of being human. What matters is that we learn from these missteps and use them as stepping stones to better financial habits.

So next time you slip up financially, don’t beat yourself up. Instead, pat yourself on the back for recognizing the mistake and resolving to do better next time.

Remember, the journey to financial security is not a sprint, but a marathon. Keep going, and don’t be too hard on yourself along the way.

7) Forgetting the value of time

Time is money. Literally in this context.

The sooner you start saving and investing, the more time your money has to grow. Even small amounts can add up to big sums over time, thanks to the magic of compound interest.

So don’t wait for the “perfect” time to start saving or investing. The perfect time is now.

Remember, every day you delay is a day your money isn’t working for you. So start today, no matter how small the amount. Your future self will thank you for it.

Embrace the journey

If you resonate with these behaviors, you’re not alone.

Financial security isn’t something that just happens. It’s a journey that requires conscious effort, discipline, and sometimes, some tough love.

But here’s the bright side – you have the power to change your financial habits.

Start by recognizing these behaviors in your own life. Notice when you’re tempted to make an impulsive purchase, or when you’re avoiding dealing with a looming debt.

Take a moment to pause and ask yourself – “Is this helping me achieve my financial goals? Is this moving me closer to financial security?”

Changing habits isn’t easy, and it doesn’t happen overnight. But with each small step, each conscious decision you make towards better financial habits, you’re moving closer to your goal.

Be patient with yourself. Celebrate the small victories. Seek help if you need it.

And remember, it’s not just about the destination, but the journey. Each decision you make is an opportunity to grow and learn.

As Benjamin Franklin once said, “An investment in knowledge pays the best interest.”

So keep learning, keep growing, and keep investing in your financial future. Your older self will thank you for it.