Saving money, paying off debt and staying in budget. All things that require A LOT of patience, perseverance and most of all motivation. Keeping yourself motivated is probably the hardest part of keeping up your financial goals. Here are some hints and tips on ways to motivate yourself financially to reach your goals.
Tips to keep your self motivated to reach your financial goals.
- Have exact goals. Not I need about $10,000 – do you need $10,000? Or $10,650 – be exact. Know the exact number. Add up all your debt and know to the cent what you owe or what you need to save. Having an exact goal is an import step. If it becomes lower then that is a bonus but have an exact figure to work with. Once you start making payments you can then say its $8453. That is a lot more satisfying than saying I need ‘oh about $8500.’ You will also find it a lot more motivating to make payments to get under $8000, then under $7000 etc.
- Compare. What the minimum is and what you want/can pay is. If paying off your credit card will take 8 years paying the minimum work out how quickly it can paid off paying extra. Often the time and the interest is enough motivation to knuckle down and pay it off asap.
- Recognise how far you have come. Too often we are overly critical of ourselves – if you were doing well then fell off the wagon than consider how well you had done, why you fell off the wagon and how you are committed not to do that again.
- Create a visual payment section, I love a colouring in page -divided into payment segments. Colour in how much you have paid off, of my favourite a good old thermometer going up in increments of your payment schedule so you can track you progress. At the beginning it will seem a little boring but once you start making progress it will really motivate you to keep going! You can keep this in your budget folder or somewhere you will see all the time. My favourite is on my bedroom wall with my motivation board!
- Have a motivation board – have a picture of what you aiming for. If it is a holiday a picture of where you want to go, what life will be like without having a credit card. I like to have a picture/collage in our room to keep me motivated with my payment board. It can be anywhere that you see regularly. I like our bedroom because I see it all the time but visitors don’t see it. Another great place is on your screensaver on your phone. If your like me and love to check your phone through the day this can be very very helpful, the constant reminder during the day helps stop any impulse buying!
- Follow like minded people on social media! I have found the instagram community soooo helpful, motivating and encouraging. I follow people from all over the world, all in the same situation trying to better ourselves financially! It’s so inspiring to find people who are looking for ways to save on food, on electricity on christmas presents etc. I just started searching hashtags that I used like #budgetmum, #frugalliving and started commenting and found so many lovely people that are sooo eager to help and share their ideas! You can follow me here.
I hope that this has give you some tips and hints on how to stay motivated to reach your financial goals! I would love to hear any more ideas or if you a motivating story I would love to share it!