By |Published On: Oct 14, 2024|Categories: Financial Planning|

Safeguards are tools for protecting yourself from blind spots or weaknesses that are hard to overcome.

For example, let’s say that you want to have a healthier diet. A lot of this can start with your environment. Suppose your pantry and refrigerator are full of junk food. Getting rid of all of the junk food is a safeguard against eating these unhealthy foods, obviously.

Purging your kitchen from unhealthy foods may take some effort and you will feel uncomfortable, but it is better for you today and in the long run. The next step is to buy healthier foods – fruit, vegetables, whole grains, etc. for your home so you have a better and healthier environment.

When you crave a chocolate bar, you can go to the grocery store and buy one, but that requires some planning and action. When thinking about your grocery store visit, you may think of better options and choose to eat something that is healthy and better for you – a piece of fruit for instance.

Resistance

Getting rid of all your junk food is an example of a safeguard strategy. It increases the amount of resistance to do something that is contrary to your long-term goals.

Many behaviors are ingrained from your upbringing and life circumstances. Most of the time these habits live in the subconscious and we are not even aware of them.

Throughout the day or the course of a week, making all of these choices is easy because they are automatic. However, if they are automatic rules that are detrimental, then they can be a problem.

For instance, when we skip the gym, we tell ourselves excuses. “I’m tired so I won’t go to the gym.” “I have to stay at work late.”

It becomes easier to make excuses than make choices that lead you to your goals.

Automatic Rules Are an Example of Safeguards

There are many safeguard strategies. One example is an automatic rule for success. Instead of trying to override habits you can automate some rules – some safeguards. If you want to get in shape, start eating healthier and going to the gym.

When you want to save more money, you can set up automatic rules to deduct certain amounts of money from your paycheck. For example, have a set percentage of earnings go towards your 401(k). Have another percentage go towards a savings account.

Without having to make a decision every pay period, you build up retirement funds as well as savings.

Want to talk a little more about safeguards? You know where to find me.