"Motivation is what gets you started. Habit is what keeps you going." - Jim Ryun
Caught up on sleep and all those holiday pics you didn't know were taken? You might be hit with what we call a 'holiday hangover' except instead of alcohol, it involves the money you've spent.
For most people, when they swipe their card or cover the check during the holidays they often don't feel it until after the fact.
If you can relate, keep reading... Here's our 7 step recovery process for January to help set you up for financial success.
If you want to be the boss of your money, you need to first be the boss of your time. It's simple. There are endless opportunities for people to interrupt us - especially now during the pandemic... Hello home school, bosses, and partners.
Have a schedule that proactively balances the use of your time and you will be at the start of financial recuperation.
SET YOUR MONEY DATES
There's no point in looking backwards. So, cozy up with your finances and your budget. Start with January's Cash Flow - review each accounts budget. Start back those 10 minute money dates.
Hold your spending on anything that is not a necessity this month.
Money is emotional. So, it's always a good idea to continuously remind yourself why you're not spending your money on anything that is not an essential. Your why is what keeps you going in moments of slipping up.
You are vulnerable right now and marketers know it. So, do yourself a favour and avoid any emotional buying, gym memberships or expensive diets.
SET YOUR (ACCOUNTS) UP FOR SUCCESS
If you haven't yet done so, I strongly suggest using separate accounts to pay bills for your dwellings, household and play money.
This method gives easy accountability and clarity to your budgets - making them easier to stick to!
Start the year on a savings mindset. Each month challenge yourself to find a way to decrease an expense and earmark that money instead to savings.
Many monetary issues are just mindsets and habits which are both changeable!
Forgive yourself. Debt may have snuck up on you during December but it's not the end of the world. Review your current debt, write down your payment order and vow to pay off your debt.
Tackle your high interest debt first.
Starting with an easy-going and focused mindset. This year is all about leading your time & money!