“We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein
Financial challenges are crippling our society…
By now, you may be thinking that the financial struggles we see all around us are beyond rescue, but what if I told you that there is great hope in turning this around? What if that hope lies in you?
Since it’s up to us to decide what will give, here are three simple ways to start breaking our destructive financial habits and acquire financial disciplines that can make or break our financial turnaround:
Own your financial weaknesses
If you’re ready for a financial turnaround but don’t know where to start, how about these few steps to get you going:
- Taka a look at 60-90 days of all your spending. Once you do this, a picture of your financial priorities will emerge. Use this information to start making necessary adjustments.
- Find an accountability partner, someone who will be able to ask you the tough questions and someone who will have your financial best interest in mind.
- Set small achievable goals. Don’t try to tackle everything at once. Determine the most urgent problem that needs to be solved, and make a plan to tackle it head on. Small, frequent wins will help you stay encouraged and see the light at the end of the tunnel.
- Make all of your cards, with exception of just one left for emergencies, inaccessible to you. Cut them up, freeze them, melt them in your oven, etc.
- Ask someone to help you create a doable debt repayment plan. Tackle either smallest balances first for quick wins or your highest interest balances – up to you. If you’re a visual person, hang your debt reduction schedule on a fridge and mark off every payment you make.
- Set up few rewards for yourself as you tackle your debt so you can celebrate certain milestones.
- Make debt elimination fun. Find a friend or a family member who would join you in the debt roll-down challenge. It’s always easier to have someone who is helping you, cheering you along, and provide a bit of competition.
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