Well, the first quarter of the New Year has come and gone.
I don’t know about you, but I heard my fill of talk about becoming a better you, making resolutions, and all the normal tropes of moving from one year to another. But really? How is December 31st really that different from January 1st? Our lives, problems, or mindsets do not magically change at midnight.
So, how do you make real lasting financial changes in your life? Let me define what I mean by that. In fact, wait, let’s back up! What do I actually mean by “REAL LASTING CHANGE” anyway?
REAL: A notable tangible difference. It can be seen and measured in some kind of way.
LASTING: It is long-term and maintained
CHANGE: Different; Not as it was before
Also, the size, or amount, of the change does and does not matter…LOL. Because well, it depends. On somethings you may just need a little “tweak”, like reducing the dollars you spend dining out. Others may require a major shift, like getting a new job or paying down a large amount of debt. Size is important only because of its significance to your life.
Now, back to my question.
How does one make real lasting financial changes? Well, it helps if you use the acronym “YMCA”. Not your local youth center, but the letters represent the steps for making solid changes in your financial life. Each one builds upon the other to get you started and on your way.
YOU
There is a saying, that no matter where you go, YOU are always there. That is true, so whatever change is need in your life, it has to begin with Y-O-U. You have to determine what you want and why do you want it.
Do you need to get your debt and/or spending under control?
Do you need to save more for retirement or to purchase a house?
Whatever your situation is, you have to identify your goal or goals, then ask yourself, WHY do you want to achieve this goal? Why is this important to you or to your family? Are you looking for financial security, peace of mind, riches, to prove something to yourself or someone else? Think about your motives behind your wants.
Another important question to ask, “Are you willing to do what it takes to achieve the goal?” What you are visualizing might take a lot of effort, time, patience etc. Are you willing to make the investment?
As you walk through this exercise more questions may pop into your mind. Take the time to think about the questions and the answers your give. Document your questions, answers and thoughts for future reference. Involve your spouse and family as well. Their lives could be, most likely will be, directly influenced by the coming changes.
MINDSET
The next step is about your MINDSET, which refers to your attitude and thoughts. More questions to ask are…
How does your thinking have to change to achieve your financial goals?
How do you REALLY feel about money?
What do you need to learn, or just as importantly, UN-learn about money?
What habits to you need correct, cease or adopt?
So many questions! Again, take the time to document your answers and thoughts. It could be quite revealing to you. And this is a very important step. The body will not do what the mind is not in agreement of either consciously or unconsciously. Uncover activities or thoughts that are counterproductive your true goals and address them. That could be painful and bring up past hurts. If you need it, get help. Don’t do it alone. Reach out to spouse, family, friends or professionals for assistance.
Idea: If you begin to doubt, remember a time in your life when you have been successful. Pull on that knowledge, the strength you showed, the people who helped you. Change is possible. You have conquered before. You can conquer again.
COMMIT
Up to this point we have been thinking about what we want to do, why we want to do it and what we need to change to do it, but now it is time to gather all those thoughts and notes to create an actual plan. Again, document, document, DOCUMENT!
What does the Bible say?
“Write the vision and engrave it plainly on [clay] tablets. So that the one who reads it will run
~ Habakkuk 2:2
That verse is the template for my thoughts on COMMIT.
Write out your plan: You may have several goals in mind, prioritize them in order of importance to you. Clarify what it is you want to accomplish and decide on the best path for you to accomplish it. This may take some research on your part or even some assistance. Don’t be afraid to reach out to others for help. There may be some goals you have no idea how to achieve, get help.
Make it plain: Have you ever found a note you wrote a week ago and now have no idea what you were talking about? That is not what we are going for here. We want simplicity but also clarity and complete thoughts. Keep your plan clear, simple, complete and achievable. You will come back to the document regularly, so it needs to be clear now, in two weeks, and in six months. If you aren’t sure, ask someone you trust to read your plan. Can they understand what you want to accomplish?
Run with It: Well, that moves us into the final letter… A
ACTION
Like in the movies, clap the slate board and shout “ACTION”. It is time for doing! Time to walk out your plan EVEN when obstacles appear. Work your plan, while remembering to remain flexible. When creating your original goals, you may not have accounted for getting married or divorced, a new baby, moving to another city or any of the many other curves life can throw at us.
Life is not a straight line.
Highs and lows are to be expected and adjusted for. So, I say again, stay flexible. Life changes and we must change with it. Your wants and whys may change or be derailed. If they do, reevaluate them, rewrite them, recommit to them and continue to move forward.
Until Next Time…
Thanks and Be Blessed
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