If you already have your simple personal cash flow plan and are working towards financial freedom, you might find that staying on track is the hardest part. I talk to people all the time who know what they need to do to achieve financial freedom or stay in good health, but the problem is almost always sticking it out for the long-term.
In this article, we’ll be looking at how important momentum is when it comes to sticking with your commitment and how you can use it to stay focused and on track with your financial freedom plan.
The Power of Momentum
The hardest part of your financial plan should never be staying committed; the hardest part should be getting started.
The reason why people lose sight of their commitment is because they lose their momentum by making something called an exception. The motivational speaker Zig Ziglar said that exceptions are the most dangerous thing that we face in life because they get us off track. However, if you never make exceptions and stay consistent, you’ll build more and more momentum until it becomes all but impossible for you to give up or to lower your standards.
Think about this, when the space shuttle leaves earth, it exerts more energy during its first few moments than it does for the entire trip to the moon and back. This is because once it gets moving, its momentum carries it, and as long as it doesn’t stop, that momentum carries it for the entire trip. However, imagine if it was making multiple stops along its way, how much more energy would it expend having to gather momentum and start moving again? It’s the same with your financial plan, if you stick with it EVERY day no matter what; it gets harder and harder to give up as the habits become solidified.
However, once you start making exceptions like: “I can’t write in my spending journal today because I’m too busy,” or “I can’t take out my investing money this paycheck because of ____,” you start to lose traction and you have to work that much harder to get going again.
Always remember this: A little bit which is applied consistently is MUCH better than a LOT which is applied inconsistently.
In other words, it’s more important that you set aside a few bucks every day or write in your spending journal for 5 minutes every day than trying to knock it out in huge chunks whenever you “get around to it.”
How to Maintain Your Momentum
Maintaining your momentum in working your financial plan is all about having a set of daily habits to repeat on a consistent basis. In other words, set aside 15 minutes of “no matter what” time to work on your financial plan and write down your spending habits for the day. Set aside a certain percentage of money out of each paycheck for investing, and do not stray from it. Pretty soon these habits will become so commonplace; it’ll be hard for you to NOT do them.
Be successful!
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Image made available by Marian Kraus at www.mariankrausphotography.com.
