The turn of the calendar year is traditionally a time when you are inspired by the possibilities of a new beginning, a new beginning and the beginning of a positive change. It can be a time that is empowered, energetic and life sustaining; It can forever change the trajectory to a more successful financial life.
But like any change, you also want to consider the good, the bad, the ugly, and especially the challenges that transitions can bring.
You can overcome your transition by focusing on the most important components:
1. As Simon Sinek says, "Start with the why." Understand not only why change benefits your life, but also that the results are so powerful and important that there is no choice. Start with an explanation.
For example: I have to become debt free within the next 12 months; or
I have to collect X dollars to get a down payment for a house, or
We need to open and fund a college savings program for my child by 1 February.
You get the exercise. It's about why something has to happen in your heart and mind. These are called "Money Musts".
2. The second step is to get an overview of where you are right now. When you need to pay off your credit cards, you need to know exactly how much money you owe, who and how much money you have to reduce the debt. Using credit card debt as an example, you may need to tighten your belt and more or less change some of your buying decisions. If paying out the cards is so important, ask yourself what you want to do for it!
The same question applies to savings and investment goals. If you can not make more money, cash flow has to come from your current expenses, and shifts in your spending habits must be made.
3. Look back to look forward. Your beliefs, habits, and behavior usually come from your childhood. What you have heard, synthesized, and adopted from your early life becomes "normal" in adulthood. But just because that's the reason you think it's not necessarily appropriate or useful for you today. Keep in mind that these beliefs, habits and behaviors may not support the values of your adults – or those of your partner, if you have them. If this is true for you, it's time to rethink your beliefs, re-think your habits, and reorient your behavior to determine your current life and future goals.
4. Track past achievements. Can you remember a time when you made a successful change? It does not matter how small it may seem, but if you can remember what you've done and how your thinking has impacted the outcome, this can be an effective tool to succeed on your way to your New Year's resolution to have. Remember the feeling when you have reached your goal. and use that feeling to engage and motivate you for the future positive changes and money habits,
5. Consider the roadblocks. If you have ever dieted, you know that somewhere between the first day of sensible eating and reaching your destination, you will be a piece of chocolate cake, a dish with ice cream, a candy bar or a bagel that will see you right in the eye and ask you to eat it – you will be tempted to deviate from your course of success. Their ability to overcome this "demand" is the difference between success and failure.
These transitional periods can be difficult to overcome, but if you know that it will come, and manage your expectations so as not to be surprised or wrong, they are less difficult to overcome. Here you need a support system. So if you're being asked by this part of your brain to dig into a commercial therapy or delicious looking biscuit, you'll need to be endowed with the power to resist. It is so important to have friends and professionals in your area to assist you.
Surround yourself with those who have the expertise and willingness to help, support, and guide you through the process of getting where you want to go.
6. Small steps rule! Setting up small steps leads to success and lowers the pain threshold. Small steps are less intimidating and usually easier to imagine; and act with it. If you're currently paying the minimum amount for your credit card each month, keep the following in mind: Pay your bill each time you're paid, not when the bill is due.
Doing this little, advanced action can make a big difference. Find places in your editions where you have less value than debt. Start with the areas of least pain. For example, set a lower entertainment budget of $ 100 per month, for example, and add $ 100 to your payment. Think of the things that you can change that will not kill you, but this will help to lower your debt on each pay period.
7. Mistakes are common. It is not uncommon to make mistakes. If you change your eating habits and eventually indulge in the desire for a piece of cake, there is nothing to stop you from starting the next day with the understanding that misstep is not fatal. The same applies to the change in your monetary behavior. You determine your goals and the way there.
8. Estimate the journey. Celebrate every success and every step deserves recognition. Focusing on what you did right will set the next victory. Every dollar you pay or every dollar you collect brings you closer to your ultimate goal, Do not wait to party! Build a victory over each other. You deserve it.
Your resolution on the new year can be the beginning of a new, richer and more expedient monetary life. It requires awareness, action and support to move from thinking to action. I know you can do it!