diff --git a/bash_it.sh b/bash_it.sh
index b2ca7f62..7844f37e 100644
--- a/bash_it.sh
+++ b/bash_it.sh
@@ -5,7 +5,21 @@
 alias reload='source ~/.bash_profile'
 
 # Only set $BASH_IT if it's not already set
-[ -z "$BASH_IT" ] && export BASH_IT=$HOME/.bash_it
+if [ -z "$BASH_IT" ];
+then
+    # Setting $BASH to maintain backwards compatibility
+    # TODO: warn users that they should upgrade their .bash_profile
+    export BASH_IT=$BASH
+    export BASH=`bash -c 'echo $BASH'`
+fi
+
+# For backwards compatibility, look in old BASH_THEME location
+if [ -z "$BASH_IT_THEME" ];
+then
+    # TODO: warn users that they should upgrade their .bash_profile
+    export BASH_IT_THEME="$BASH_THEME";
+    unset $BASH_THEME;
+fi
 
 # Load colors first so they can be use in base theme
 source "${BASH_IT}/themes/colors.theme.bash"