When it comes to discussions regarding personal finance and motivation, the motivation concept is usually left under-discussed. Even though many believe big wins to be a rapid way to wealth, in no way does this mean that you will reach your objectives overnight. Regardless of how wealthy you are, you constantly require motivation in order to manage your money and arrange your spending. This is the main link to motivation and money with the first being motivation when earning money. Keep on reading and discover some of the ways motivation and money that may work for you.
Motivated By Balance
One of the main ways motivation and money relate is associated with work-life balance. This is related to compromising and taking longer to pay off any debt you may have. The compromise you will need to make may be displayed in various ways, such as:
Even if you have a full time job, it is important you set aside some time where you can fulfil your hobbies. You may like to cook or read, or even write. Another compromise comes in the name of balance. You can do this by not giving each spare cent towards your debt payoff. Even though you may have made extra payments to any personal loans, such as student loans, you still need to do things that make you happy, such as:
• Take vacations
• Go to happy hours
• Buy a house
• Furnish your house
• Search for best deals
Motivated By Forgiveness
It may be you are under a large amount of student loan debt at the moment, where you agree you could have obtained the same education with less debt or not got any education at all. At the end of the day, you get the degree and agree with the fact that your debt also increased with this. Instead of being miserable about the whole situation, you should be motivated by forgiving yourself. A major part of forgiving yourself means:
• Working towards having a balanced life between life and work. In no way does it mean you begin to work 80+ hours a week, oh no!
• Spending money on things other than just the debt payoff
• It also means not busying yourself with negative self-talk. This means you refuse to believe that you are worthless, stupid or a bad person just because of your debt.
The link between motivation and money is to encourage others to think twice about taking out student loans. Helping others with significant debt loans is another factor relating to motivation and money. Both of these are good deeds and if you choose to take financial responsibility, this in no way has to contain self-flagellation.
Motivated By Present Achievements
As you achieve whilst you go along, it is important you celebrate this success. It is important you do this, but may not go well with staying motivated by your accomplishments. If you reward yourself with a fun activity such as a Caribbean cruise, this can make you happy and allows you to celebrate your success. Alternatively, you may want to keep a list of your achievements, which you can always have a read through when things start to get tough. Such achievements can include things like:
• Financial achievements where you have paid off debt
• The size of your emergency fund
• Any degrees you are proud of
• A marathon you ran
• A new language you learned
• A child you raised
• Any transferable skills
Being Motivated By the Finish Line
Just to finish off with, I will give you an example related to motivation and money. Two individuals were once renting, which followed a home purchase where they went six months without making a housing payment. In regards to this, they had never imagined or experienced what this was like. However, once they experienced this, their eyes fully opened. The lesson they learnt is:
• All debts that you are able to pay off reduce the amount of money you need to live well.
The exciting thing for you has to be paying off your debts, especially if these were the sizes of mortgages. You need to remain motivated by the finishing line and this is only possible if there is a finishing line in front of you, where you are heading to succeed. Setting goals will always be the best gateway for getting rich in a slow manner. In fact, anything you make goals for can be accomplished as you will be meeting milestones one by one in order, which will as a result make you more motivated throughout the entire experience.
You must remember that money is just a mere tool that helps you live how you wish. So, it is important you begin with dreaming a life and working backwards from that. The mini milestones you set in order to work towards your goal are necessary and will help you a long way. However, the finish lines of you and your peers will be different, which is why it’s called personal finance.