If you’re like most financially minded folks, you likely set some admirable money goals for the year back in January. Well, here we are, half-way through the year already! How are your money goals stacking up? Are you blazing through the year or falling behind? If you’re on target, congratulations! Keep up with that good work and don’t lose steam. If, however, your review shows that your financial goals need a boost, try these tips for some money motivation.
Manage Daily Spending
Little daily expenses can add up – big time. Your daily coffee shop visit or biweekly manicure could be costing you thousands in the long run. If you’re behind on savings for the year, consider cutting some of these daily treats and conveniences. Set yourself a daily or weekly budget and stick to it. Many people like using a cash method to help moderate their spending and prevent unnecessary money drains. Take out your weekly cash allowance and stop the mindless spending.
Ditch Useless Monthly Plans
It’s easy to collect monthly subscription services that we use a few times then forget about. This is a great time to tally up all your monthly subscriptions and plans and cancel those that are unnecessary or that you could live without. If you miss them, you can always re-subscribe. Then put all that extra money into your savings goals.
Evaluate Your Income
If you’re really struggling to make ends meet or gain traction in your money goals, take a good close look at your income. When is the last time you had a raise? Is it time to consider a side-gig or pick up extra work? Could you make your money work better for you? Should you re-evaluate your investments? Spending less is crucial to saving more, but sometimes you just need more money. Look for opportunities and think outside the box.
Practice Money Mindfulness
Too often we are hit with the dilemma of gratification now, or reward later. As humans, we are wired to take our chances when we get them which can make financial goal setting quite a tough endeavor. Before you make a purchase, consider how that purchase will make you feel three months down the road. Is it necessary? Will you still care about in a few weeks’ time? If not, consider if the purchase is worth setting your goals further back. Money spent on anything is money not put into your goals. Weigh your options carefully and think about your future self first.
Hopefully, these tips will help to spark some money motivation for you! If your current goals are slacking, just remember – we’re only halfway! There are six more months to make your dreams for 2019 a reality.