Are you on a money treadmill–doing the same things over and over, but getting nowhere?
Our family was on a treadmill for years. We kept repeating the cycles of spending whatever money we had, expecting too little of ourselves and continuing a poverty mindset (“We never have enough.” “We are never going to have enough.”).
Finally we decided that we were tired of the drama and our low standards.
If you are tired too, there are 3 keys to getting off your money treadmill.
Stop and Look in the Mirror
Take a look at where you are. Do you want to continue to live paycheck to paycheck, going from one crisis to the next, or do you want to have peace and be in control of your money?
When we finally got tired of the consequences of not being in control, we decided to take an honest look at how we were spending our money. We recorded every penny spent and then determined where our money leaks were.
Choose Your Destination
If you have been working hard, but getting nowhere financially, you will want to decide how you want things to change. Where do you want to go? You want your efforts to result in something tangible: money saved, lives changed, investments made.
We started with a few specific short term goals like having $1000 in an emergency fund and saving for needed car repairs, but we also made some bigger goals including giving at least $1000 away to people and causes we believe in.
Take some time to write down a few goals for your own life, some small and some large.
Do Something Different
You have probably heard that the definition of insanity is doing the same things over and over and expecting different results. In order to change our finances, we can’t keep doing the same things. We have to change our everyday habits.
It’s obvious, but sometimes we forget: You cannot save money that you spend. Yes, you can make more money, but to save money we have to stop spending it on frivolous items that prevent us from reaching our true goals and priorities.
Making one small change can get you off the treadmill.
Make coffee at home and save the $5 you were spending every day at the coffee shop.
Make a menu plan for this week and buy only what you need at the grocery store.
Find an online workout and cancel your gym membership.
Start a home business to bring in more income.
No matter what has happened in the past, you can get off the treadmill and start in a new direction. Today is a new day!
What is one small change that you will make today to get off your money treadmill? Leave a comment.
Image courtesy of John Kasawa/ FreeDigitalPhotos.net