While the recent economic crunch has tempted all of us to reevaluate the things we spend money on, it may end up being the patterns of your spending that help you the most in the long haul. Having the discipline to actually change these patterns may prove more difficult than just locking up your wallet.
Not a short term fix
As with any real remedy to a long term problem, this is not a quick fix. Reevaluating your patterns and the behaviors you associate in relation to spending may expose some, gulp, weaknesses. The thing to do is realize that it’s not a bad thing when you do find things you need to work on. Consider instead that they are more of an opportunity to strengthen those weaker financial muscles.
Look everywhere
Patterns that relate to finance pervade your life and can affect everything from where you decide to go for lunch to how far you decide to drive to the gym. If you are really going to get serious and give your life a financial make over it will take time and a new perspective.
You’re going to have to evaluate nearly everything in your life in financial terms. This may not be fun in certain areas and you will certainly find room for improvements that you simply don’t want to make or sacrifice. How hard you are on yourself depends on what level of reinvention you want for your own life.
If you’re not finding room for improvement you’re not looking hard enough
Every single person has room to grow. That’s what makes us human. You may not be the Al Gore of your neighborhood, cruising around in huge black SUVs but a closer inspection will reveal something you have overlooked.
Know where you want to go
Keeping your goals in mind and having mapped out financial goals by now should sound like a ‘no-brainer’ but when it comes to saving your money mapping out other areas of your life may prove beneficial as well. When it comes to new relationships, spur of the minute trips to the movies and unexpected clothing needs, all these things can translate to a further drain on your bank account. The trick is to make a plan, but know that all plans must be ready to adapt and change. You should incorporate at least a little room to move; otherwise you’ll drain yourself emotionally long before your checks ever start to bounce.
This post was contributed by Courtney Phillips, who writes about the Criminal Justice degrees. She welcomes your feedback at CourtneyPhillips80 at gmail.com.
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{ 3 comments… read them below or add one }
Much truth in this post – evaluation and awareness are important first steps in making positive change in one’s financial life as well as other aspects of life.
Of course the bigger issue is when you are already living the frugal lifestyle, where do you cut back during a recession/job loss?
I think you make a great point that this is not a quick fix. It is important to put some thought into the process and take your time.