Finances in the Year Ahead

Yes, I went there this early in the morning and this soon into the new year…..I am sure for many of you, your New Year’s resolution contained one like this “Stop using credit cards” or “Pay off credit card debt”, right?  Dave Ramsey shared his thoughts in a recent blog on this subject.

Like with most resolutions, the motivation starts to dwindle as we get closer to Valentines Day.  You know the next “holiday” that encourages gift giving.  It is when our goals for self-improvement turn to flowers, chocolates and gifts.  If you have stuck to your budget over the last 6 weeks, you may think “I am entitled to splurge a little”.  If you don’t have the cash,  how often do you turn to credit cards thinking that you HAVE to give a “certain gift”.  The new year resolution and its commitment get left in the dust.  I know it is too early to talk about Valentine’s Day, right?  The truth is we need to be ready for those temptations.

Try something different as each holiday or special occasion approaches that you are tempted to spend or over spend.  Think about the progress that you have made to reach your financial goal – financial freedom.  Financial freedom sounds so much better than “paying off credit cards” doesn’t?  When you are tempted to charge or overspend, remember that the gift of giving is not about the gift but the thought that is attached to it.  Those words don’t only mean something at Christmas but all year long.

Starting a financial freedom plan and sticking to it can be hard.  Think of it like a diet – Going on a diet and starting to exercise is hardly ever fun at the beginning. But when you look at the scale and you’re two pounds lighter, that brings a smile to your face, and you want to do more of it. So, paying off small amounts of debt first and making that debt smaller will definitely bring a smile to your face.

Find the motivation that fires you up personally. What is your REAL reason for wanting financial freedom?  Who do you want to give to when you have no payments? How will your life be different when you are debt free?  This is the year to find out.

Have a ThirtyOne-derful day!