Three Keys To Successful Money Management

Three Keys To Successful Money Management

Money and Money Management are very important and very popular topics. People either don’t save enough, have too much debt, and want/need more money. When people finally decide to do something about their financial situation, they want to dive right in. Unfortunately, they do not always know where to begin. As a result, they start spinning their wheels and can become discouraged. There are three keys I usually share with my clients to help them to be successful on their journey. The keys are patience, consistency, and commitment.

It’s very important to be patient when starting your money management journey. Why? Because in most cases it took you awhile to get into your current financial situation and it’s going to take you a while to get out of it. How long is a while? Usually longer than two or three months. Anyone who promises they can turn your money life around in two or three months is most likely going to cost you more than you are going to receive. Patience is a virtue and can help you with money management.

Consistency is the next key. Several people get excited about change and like to dive right in. Then when they only see small change, they get discouraged and give up. Just like weight loss, money management takes consistency. You have to keep doing the right things every day, every week and every month. Keep paying your bills on time. Make deposits into your savings account. Resist the urge to splurge and to reward yourself by spending money you do not have. Eventually you will see progress and the change you desire. Keep up the good work!

The final key is commitment. You have to be committed to the process. It is not always going to be easy and it is not always going to feel good, but you will need to stick to it. Commitment will keep you going when you feel like giving up. Commitment will keep you going when it feels like nothing is changing. I encourage you to keep pressing forward and look at the prize. The prize is increased savings, decreased debt, control of your money, and financial freedom. You can do it! It just takes patience, consistency, and commitment. All the best!

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