Let me hope you are aware by now that nobody cares more about your money and overall wellbeing like you do. You have the ability to influence your financial situation. At any given time, you influence is either contributing to your future positively or negatively. It’s very seldom static. The good news is that handling your money is a learned behavior. But first, you will need to change your personal finance mindset to do what winners do.
The Only Constant in Life is Change – François de la Rochefoucauld
Change starts with a choice. Do you want to change for the better? When you hear yourself saying things such as “I am living paycheck to paycheck” or “I can not afford to service my debt” or “I have no retirement savings”, it is time for you to make a choice to quickly reorganize your life and get out of the mess you have created.
Changing takes courage. More often than not, we lack the guts to change our situation mostly because of external pressures. Most people, who have successfully made positive changes, had to take the unpopular route. This may mean you will encounter some resistence. If you have a financial goal to achieve, make a plan and stick to it. This may mean downsizing, less outings with friends and family, no more vacations until the debt is paid off. These moves will appear unpopular but the end result is worth the sacrifice.
Change demands a lot of focus. There are plenty of interruptions that may cause you to loss focus. But with a systematic plan of action, you will be able to remain focused. As you start your financial plan, have an end in mind. What are the overall goals you hope to achieve with your plan? The big picture view will help you say on track.
Assuming you were the manager at you office. You make decisions with confidence and when in doubt, you seek for advice from your peers or better yet, you arrange for training where necessary. The same principles apply to your money. You are the manager of your financial life. If you lack confidence in money matters, educate yourself. Attend seminars and workshops, look for mentors or hire a professional with the heart of a teacher to educate you as you plan out your financial future. The more you learn about handling your money, the more confidence you will have in executing financial decisions.
Like anything in life, it pays off to be consistent in most areas of your life. Create a budget every month. Review and revise your budget weekly in order to accommodate any changes in your lifestyle. Look at your goals often to ensure you are on track. Do not stop learning and educating yourself about finances. All the changes you make and the lessons you learn can be easily unlearned if you are not consistent in your execution of your goals.
Give yourself a winning chance. You deserve to have fulfilled life. Many people discount themselves because of the many mistakes they have done in the past. Granted some of the consequences may still linger but you still have a chance to get back on track to financially freedom. Any personal and financial changes start with giving your-self a chance.
When your financial situation is out of control, only YOU can take control of it. Not the government, not your parents, or your spouse. Acknowledge the facts and take control of the situation by creating an action plan that you can implement immediately.
If you financial situation does not reflect your financial goals, change it. Keep educating yourself and don’t hesitate to seek professional help when necessary. In so doing, you will be creating a brighter financial future for you and your family.