Changing the calendar year is traditionally a time when you feel inspired by the possibilities of a new beginning, a new beginning and the beginning of a positive change. It can be a moment that is empowering, energetic and of life support; it can always alter the trajectory towards a more successful life of money.
But like any change, you want to consider the good, the bad, the ugly and, most importantly, the challenges that transitions can bring.
You can conquer your transition by distilling it to the key essential components:
1. As Simon Sinek says, "Start with why." Understand not only why the change is beneficial for your life, but also that the results are so powerful and important that there is no other option. Begin with a statement.
For example: I must be free of debt in the next 12 months; or
I must accumulate X dollars for a down payment on a house, or
We must open and fund a college savings program for my son before February 1.
You get the drill; It's about why, in your heart and in your mind, something must happen. These are known as your "money musts".
2. The second step is to control where you are at this moment. If your "obligation" is to pay off your credit cards, then you have to know exactly how much money you owe, to whom and how much money you have to reduce the debt. If you use credit card debt as an example, you may need to adjust your belt and alter some of your spending decisions to a greater or lesser degree. If the payment of the cards is so important, ask yourself what you are willing to do to make that happen!
The same question applies to savings and investment objectives. If you can not make more money, the cash flow must come out of your current expenses and the changes must be made in your spending habits.
3. Look back to look forward. Your beliefs, habits and behaviors related to money generally come from your childhood. What he heard, synthesized and adopted from his early life becomes his "normal" in adulthood. However, just because this is what you grew up believing does not necessarily make it appropriate or beneficial for you today. Keep in mind that those beliefs, habits and behaviors may not support your adult values or those of your partner, if you have one. If that is true for you, it is time to reconsider your beliefs, reconfigure your habits and realign your behavior to boost your current life and your future goals.
4. Anchor the successes of the past. Can you remember a time when you made a successful change? No matter how small it may seem, but if you can remember what you did and how your thinking affected the outcome, it can be a powerful tool to achieve success in your New Year's resolution. Remember the feeling you had when you fulfilled your goal; and use that feeling to commit yourself and motivate you to make a future. Positive changes and monetary habits..
5. Consider the obstacles. If you have ever been on a diet, you know that somewhere between the first day of sensible eating and the achievement of your goal, there will be a piece of chocolate cake, a plate of ice cream, a candy bar or a muffin that It will look perfect. the eye and requires him to eat it, which tempts him to deviate from his path to success. Your ability to overcome that "demand" is the difference between success and failure.
These periods of transition can be difficult to overcome, but if you know that they are coming and manage your expectations so as not to be surprised or disappointed, they are less difficult to conquer. This is where you need a support system, so when that part of your brain is telling you to look into a retail therapy or that delicious looking cookie, you must be armed with the strength to resist. This is where having friends and professionals around you to help support you is so vital.
Surround yourself with those who have the experience and willingness to help you and guide you through the process of reaching where YOU want to go.
6. Small steps rule! The configuration of small steps leads to success and reduces the pain threshold. Small steps are less intimidating and tend to be easier to imagine; and so act. If you currently pay the minimum on the credit card each month, keep the following in mind: pay your bill each time you receive the payment, not when the bill expires.
Taking this small step of advanced action can make a big difference. Find places in your expenses that have less value to you than paying off debts. Start with the areas of least pain. For example, set a smaller entertainment budget for, say, $ 100 per month and add that $ 100 to your payment. Think about the things that can change and that will not kill you, but that will help reduce your debt in each payment period.
7. Errors are common. It is not uncommon to make mistakes. If you are changing your eating habits, and one day you fall into the desire for a piece of cake, there is nothing stopping you from starting the next day again with the understanding that a false step is not fatal. The same applies to changing your money behaviors. You decide your goals and the way to get there.
8. Appreciate the trip. Celebrate every success every step forward deserves recognition. Focusing on what you did well establishes the next victory. Every dollar that you pay, or dollar that you accumulate, brings you closer to your ultimate goal. Do not wait to celebrate! Build one victory over the other. You deserve it.
The resolution of your New Year can be the beginning of a new monetary life, richer and with more purposes. It requires awareness, action and support to take it from thought to action. I know you can do it!
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