We all know of those monthly periods where we are al eating “animals” right after pay day. And two weeks later we are eating “animal foods”. It’s happened to the best of us…. unless you were lucky enough to be born into a family with money
Finances talk! Anyone who has ever set a New Year’s resolution knows how exciting it can be to revel in their vision for the future. But come February, that excitement often fades into feeling overwhelmed. And it gets worse as the months go by. Although the life we want is free to imagine, it’s expensive to build.
1. Take inventory of your spending
Track your spending to bring mindfulness to your day-to-day financial habits and identify serious issues like spending more than you make. The practice of writing down your expenses or tracking them allows you to see whether your spending is actually aligned with your stated goals and priorities.
2. Rethink your savings rate
How much are you saving each month relative to your income? Better yet, calculate your net worth as a percentage of your lifetime earnings. Calculate all the money that has passed through your hands over the course of your working life, how much of it have you actually kept?
3. Refresh your social circle
It’s hard to grow into the new you while clinging to old relationships that keep you stuck where you are. Build and foster relationships with people who are just as motivated to achieve their financial goals as you are. They’re far more likely to understand and support the path you’re on. They are also less likely to guilt-trip or push you into practising bad financial habits that throw you off course.
If you’re determined to get serious about achieving your financial goals, start by getting real about what it’s going to take to get there. The more aggressive you are in taking the financial steps necessary to afford your dreams, the less likely it is you will have to settle for anything less than what you imagine.