Celebrating Earth Day this week, the focus is usually on reducing, re-using and upcycling in order to gain sustainability, and lessen negative environmental impact.
What about ensuring our money management is sustainable? What behaviors can we employ that will have the biggest impact when it comes to our goals? How can we best set ourselves up for success by using systems designed to last?
Read below for a few ideas!
Review Your Financial Goal for Clarity
Get Clear. What is a money goal that you’re working on now, or desire to work on? Can you get really specific about where you want to be financially, and why? We’ve all heard of the SMART goal framework: Specific, Measurable, Achievable, Relevant, Timely. Double-down by making sure this particular plan is “Achievable” in the “Time” that you have available to make it happen.
Where are you resourced for help? How do you stay motivated? (this quiz helps!)
Check Your Money Mindset
How do you want to feel about your money? What are some terms about money that fit with you? A few common ones might be: Freedom, Security, or Clarity. Take a moment to identify what speaks to you and take the next action step that conjures that feeling.
Do your current actions align with the terms you’ve chosen? What is the story you’re telling yourself that might be keeping you stuck? Where did that belief come from and is it time to no longer let it run the show?
Gaining a deeper understanding about how we feel about our money, other’s with money, and money in general can be really enlightening to start re-wiring those repetitive thoughts. We can change the way we think!
Track Your Progress
Once you’ve identified what you want to do, and how you want to feel, let’s get tactical! How will you check progress? What technique works for you? How do you like to best keep track? The best method is the one you look forward to doing.
Adding a date and time on the calendar when you intend to check on your plan allows you a progress check and you can gain momentum to keep going. If you’re feeling behind, try breaking your goal into smaller, more manageable chunks. Treat yourself for reaching each milestone, even if tiny!
Automate Where Possible
Sustainability in money management requires systems and automation. Automate transfers, payments, savings account contributions, bill-pays, credit card payments, etc. If you have the ability, through your employer, some of these can come directly from your paycheck before it hits your bank account–particularly retirement and often regular savings.
Tip: Ensure all transfers you set up are “recurring transfer” until no longer needed.
What tasks are you doing right now, manually taking up extra time that might be able to run smoothly without you, behind the scenes?
The best hack for achieving results with your finances is consistency. Money management and building wealth is designed to boring and compound over time. It doesn’t have to drain us of our time and energy.
By thinking about where you want to be, thoughtfully and intentionally, identifying the methods that work best for you, you automatically start the domino affect of making choices that lead to sustainability.
You’re going to be with your money a long time. How good would it feel to have confidence that the plan you’ve put in place is designed to work for you for the long-haul?
Unlocking Abundance 