Easier said than done!

‘’Don’t spend your time worrying about specific money-saving tactics right now. Spend a week or so really thinking about your future and what you really want from it.’’

The other day, I opened my box and did receive quite a host of good feedback, but one caught my attention more. It kept my mind racing. A follower of my column wrote: “I have been reading your Personal Finance Column for a year or so and I have found it really inspirational. My problem is that I can’t get past the inspirational part. Several times, I have started to try to implement your tips. What I find, though, after a week or so is that I just get frustrated with all of it and I quit all of it and go back to doing exactly what I was doing before. How do you start changing if you can’t even tackle a handful of simple changes like this? It’s easier said than done!”

I really empathised with him. It’s never easy, but it is possible with determination to have a sound personal finance life. In order for change in your personal life to succeed, you need several elements.

First and foremost, you need a goal. Why are you doing this? Where do you want to be in five years? Will you be out of debt? What will you do with debt freedom? Do you wish to own a house or be in a better career?

Don’t spend your time worrying about specific money-saving tactics right now. Spend a week or so really thinking about your future and what you really want from it. Where do you want to be in a year? In five years? In 10 years? What do you aspire to be? It is the goal you set for yourself that will determine the seriousness with which you will treat your finances. Trust me, once you start building that house, you will always want to spare your money and buy a bag of cement. Once you start doing that degree, you will reduce on your ciders and spare money for a book. Once you are in huge debt, every opportunity to make and not spend money counts. So, the goal will push you into action. Just set the goal and get started on pursuing it.

Listen: If you’re not working towards something better than where you are right now, then why make sacrifices at all? Make the plan realistic. Your plan should be one that’s easily achievable—so that the little achievements you make give you the strength to go on. If you are too ambitious, you can easily get frustrated at the seemingly insignificant progress you are making and then give up.

Setting your goal and plan to achieving it is the first taste of success, and it’s usually an inspiring one. You’ve got goals and plans for getting there. You’ve done something that directly helps your plan along. You’ve reached some success.

Once you’ve done this, now’s the time to start with the behaviour changes. However, I’m going to suggest that you not just do a bunch at once. Instead, pick out one change and focus on maintaining only that one change for a number of days. For example, you want to build a house but do love a whole host of money-robbing habits i.e. you love your beer, you love going to tourist sites each month end, you love going to music shows, you are addicted to coffee. If you decide to reduce on beers, then stick to it for now. Don’t reduce on the other ones at the same time – you will be so miserable and will end up giving up saving on any of them sooner than later. Don’t force too many changes at once.

Again, figure up how much you’re saving from that one behaviour change and roll that savings into one of your plans for the future. Take it slow. Every step you take is a real improvement, and it’s far better than not taking any step or taking too many steps at once.

Have a blessed week-end as you make goals and plans for the future. Remember, one small behavioral change at a time!