You might feel like giving up on managing your money for many reasons. It can be a lot of work and frustrating when you don't see results right away. Finding ways to stay motivated and on track with your financial goals is important. Staying motivated can help you reduce money stress, build wealth, and achieve your financial goals.
Tips to Help You Stay Financially Motivated
Define Your Budgeting Process
Start small. Try to do only a little at a time. Start by setting small, achievable goals. For example, start by setting a goal to save $100 monthly. Once you reach that goal, you can set a new goal to save $200 per month, and so on.
Start by creating a budget. This will help you track your income and expenses and see where your money is going. Once you make a budget, you can start changing your spending habits.
Set financial goals. Once you have a budget, you can start to set financial goals. These goals can be short-term (e.g., saving up for a television), medium-term (e.g., paying off credit card debt), or long-term (e.g., paying off your mortgage). Having goals will give you something to work towards and help you stay motivated.
Automate your savings. The easiest way to save money is to automate your savings. This means setting up a system where a certain amount of money is automatically transferred from your checking account to your savings account each month. For example, every time you get paid, have $50 go to your savings account. Or you can have your employer automatically send a portion of your pay to your savings account for you. You'll save money without realizing it.
See my feature in Yahoo 8 Simple Ways for People in Their 20s To Begin Saving Now
Reward Yourself for Reaching a Goal
When you reach a financial goal, reward yourself for staying on track.
Take a vacation. Go on a trip to a place you've always wanted to visit.
Buy something you've been wanting. This could be a new piece of clothing, a gadget, an experience, or anything else you've been saving up for.
Give back to the community. Donate your time to a cause you care about. You don't always have to provide financial support to non-profit organizations. The majority of these organizations appreciate the time you spend supporting their cause.
Treat yourself to a spa day. Get a massage, pedicure, facial, or other spa treatment.
Go out to eat at a restaurant. It doesn't have to be expensive, but ensure it's delicious.
Buy yourself a new outfit. Update your wardrobe with some new clothes that make you feel good.
Go to the movies. See the latest blockbuster or catch up on a classic film.
Go to a museum. Learn about history, art, or science at a local museum.
Go to a play or show. See a live performance of a play, musical, or other show.
Go to a comedy show. Laugh your head off at a comedy show.
Go to a dance club. Let loose and have fun at a dance club.
Go to a karaoke bar. What's your favorite song to sing along to? Is it Michael Jackson's "Man in the Mirror" or Alica Key's "Girl on Fire"?
Go to a sporting event. Cheer on your favorite team at a game.
Go to a concert. See your favorite band or artist live in concert.
Build a Financial Support System
Find a financial buddy. Having someone to support you can make a big difference. Find a friend, family member, or colleague trying to manage their money. You can check in with each other regularly, share tips, and offer support. Your family can also watch your children while you're attending your financial counseling session.
Get professional help. If you're overwhelmed by your finances or need help getting started, don't be afraid to get professional help. A financial counselor can help you create a budget, set financial goals and resources to help you invest your money.
See my feature in LegalZoom What is a Financial Coach and What They Do?
Don't Give Up When Money Stresses You Out
Remember, managing your finances is a journey, not a destination. Getting your finances in order takes time and effort, but it's worth it. When you have a handle on your money, you can make rational decisions about your spending, saving, and investing. You can also reduce stress and anxiety and build a more secure financial future.
I know it's not easy, but I believe in you. You can do this!