The key to learning to keep your spending under control isn’t a great budget. A budget is a powerful tool, but having one won’t change your life all by itself. You have to change your attitude about spending. Only a change in your attitude will give you the strength to recreate your financial situation.
Changing your attitude is easier said than done, however. Change doesn’t come over night but after a slow, steady effort. You can jumpstart that change using one of these three methods.
Use goal-setting to counteract your spending impulses. Most people stink at cutting spending just for the sake of saying that they did. You need a reason to deny yourself. Imagine for a moment what you could do if you had control of your finances. Would you pay off your debts? Maybe you’d go on a fantasy vacation. Keeping that goal (whatever it is) foremost in your mind will allow you to sacrifice your immediate desires for your long-term plans.
Get a financial fitness buddy. You hear about people recruiting friends all the time to help them stick to their physical fitness resolutions. Why shouldn’t you do the same time with your financial resolutions? A friend could gently remind you that you’re trying to save money when your willpower falters and you forget your resolutions. Your friend could also make sure that your get-togethers among friends aren’t filled with temptation. A little accountability is always helpful when you’re trying to make a change.
Involve the whole family. If you are the only one in the family who thinks your spending habits need to change, you’re going to find yourself fighting an uphill battle. Imagine telling the kids that they don’t need to spend money on a bunch of extra treats only to have your spouse buy the treats. You, your spouse, and your kids all need to be on the same page about your new spending attitude. Have a family meeting and explain to everyone why these changes are necessary and how your lives are going to improve. Then, you can all encourage each other.
Related Posts- There Is No Such Thing As A Budget Failure - It’s Just An Opportunity For Feedback
- Financial Goal Setting for 2009
- Improve Budget System With Second Checking Account My wife and I have been struggling to adhere to...
- Debt Doesn't Have To Be A Way Of Life It wasn't that long ago that our parents, grandparents and...
{ 4 comments… read them below or add one }
Terrific piece!
I especially believe in the third point.
Having the entire family involved definitely helps to achieve the goals from the first point.
This is the crux of my new book, but you take it to the next level with some concrete steps that people can use to change their attitudes about money.
I’ve said it for a long time, its not about an A,B, C list of things to do to spend less, its about changing mindsets.
Great post.
As a runner I like the financial fitness buddy, which is my wife in my case. So, I also follow your third suggestion. I like these three ideas!
Terrific ideas.
Being debt free is a great feeling and gives your life much more flexibility. Keep up the good work.
Allen Hurst