There is no magic shortcut on the road to financial independence. Intellectually, most of us know that the way to lasting financial success is the way live within your means. However, when you have problems and are in the middle of a tough financial situation, it can seem so overwhelming that you give up.
In honor of National Encouragement Day, here are five ways to hopefully give you financial encouragement no matter where you are on your path to financial security.
Make up your mind (and know you can)
The first step in feeling empowered financially is to decide that you are going to do this. Decide on this step. No matter where you are, decide what is important to you and decide if you want this to happen. That could be draw up a budget, Starting an emergency fundor to decide Open your first retirement account.
When you make the decision, don't make it yourself. Write it down and tell your trusted friends and family. Let them know that they can help you be held accountable. It may seem scary at first, but you can.
Decide where you want to be in 3-5 years (and write it down!)
Another step that will really get you where you want to be is to spend some time thinking about medium to long-term planning. Sit down with your spouse, family, or a trusted friend and decide where you will see each other a few years later. A good first step is to make sure you are on the same page with others in your financial circle.
Don't be afraid to think big. Three to five years is a long time and you might be amazed at what you can accomplish. When you have decided on a vision, write it down. Put it in a place you see it often and tell others that you trust. When you keep your vision and goals in mind, it becomes much harder to achieve them. A goal that is not written down is just a dream.
Stand up for a small, achievable goal
While it's good to have a long-term idea of where you want to be, it's also important to break down those longer-term goals into smaller, more actionable steps. Many people have a goal get out of debt, as an an example. Let's say you have $ 40,000 in debt that you want to pay off over the next three years. If you do the math, it means you're paying out an average of $ 1,111 per month or $ 256 per week. Look at your budget and decide if this is reasonable and, if so, how you are going to do it. Oh, and did I mention you should write it down?
Don't forget to celebrate your winnings, even if they are small wins – ESPECIALLY if they are small. Taking the time to celebrate your achievements will give you positive reassurance to keep going until you reach your ultimate goal.
Connect your accounts for automatic billing
One handy piece of advice to get you on the right financial path is to connect all of your contacts different accounts in one place. When you can see your bank account, car loans, mortgages, credit cards, and student loans in one place, you can manage your finances at a glance. Another important step is to set up your accounts to automatically pay recurring bills. That way, you never have to worry about late fees or missing payments.
Financial offers that inspire your trip
And our last chance to feel financially empowered is to take inspiration from these quotes as you plan and secure your future. Remember that regardless of your situation, the chances are good that someone else has gone through them before. They did it and so did you
"Better to look ahead and prepare than to look back and regret it." – Jackie Joyner-Kersee
"A budget tells your money where to go instead of wondering where to go." – Dave Ramsey
"There's a huge difference between making a lot of money and being rich." – Marlene Dietrich
"Nobody has ever achieved financial fitness with a January resolution that was abandoned by February." – Suze Orman
“When we dispose of our wealth, we will be rich and free. If our wealth commands us, we are indeed poor. “- Edmund Burke
"You can't predict the future, but you can create it." – Peter Drucker
"Money is a terrible master, but an excellent servant." – PT Barnum
You can do this – no matter where you are on your path to financial success and what financial success means to you. An old saying goes, “The best time to plant a tree was 20 years ago. The second best time is today. “Make the decision today to take one more step towards a solid financial future.
Dan Miller (30 posts)
Dan Miller is a freelance writer and founder of PointsWithACrew.com, a website that helps families travel for free / cheap. His home base is in Cincinnati, but he tries to travel the world as much as possible with his wife and 6 children.