When we think of the word confidence, we typically associate what we believe is lackluster in our lives – our own body image, job performance evaluations or our ability to get things done timely. It’s time for us to flip the switch and redefine our health, families, life endeavors and finances. Check out these tips to reset (and re-strengthen) your financial confidence.
Prioritize your financial goals
Sit down and think about what a perfect world for you would look like. Is it the ability to go on vacation at a whims’ notice? Is it to live debt-free? Or, is it watching your savings account grow? Answering this question truthfully will help create a financial roadmap. Much like a GPS, it’s not going to tell you where to go as soon as you enter the car. You must be clear enough to identify and know your destination. Write it down and revisit this often. Keep the goals on your phone or in a room where they’re visible daily.
Crush credit card debt
The high interest rates that often times come with having credit card debt almost serves as a looming cloud that never goes away. Making regular payments while being unable to see your efforts become so exhaustive for many. Create a plan of attack, be patient and see it through until the balance is zero. Whether your outstanding balance is $500 or $5,000 be encouraged and know tackling debt incrementally will ease any anxiety you may feel regarding your finances. Opted to make a grocery store run versus splurging on dining out? Print out your credit card balance and keep it on your fridge. Constantly remind yourself what you’re doing is not in vain and can only benefit you.
Celebrate even the smallest of wins
Boosting your confidence is a daily practice that requires personal acknowledgement and the act of celebrating. If you were once behind on monthly bills and you put a system in place that allowed you to get all caught up– celebrate that. Tackling debt creditor by creditor until they’re all gone – celebrate that as well. During this journey, you will have to remind yourself why the work you’re doing is so important. Keep track of these wins and revisit them when you need an extra push of encouragement.
Share your financial wins (and losses)
Social media serves as a highlight reel where many only showcase their wins. Regardless of where you choose to share your learnings, be sure to help someone else along their financial journey. Have open conversations with family and friends. Even though some may be shy as it relates to financial stories, people love to hear tried and true methods. What may work for one person may not work for others, but the act of sharing your findings can pour into the lives of many. You never know who is watching (and listening).
Have an accountability partner
When you’re the only person aware of your goals, who will be there to challenge or support you along the way? Designating a friend or family member to help motivate you adds another layer to the mix. Of course we don’t want to let ourselves down, but an accountability partner can also re-direct you when you want to throw in the towel. Establishing regular check-ins or meetups develops a routine you will likely want to abide by. Jot down what has worked well, what hasn’t and what you can tweak along the way. This ‘homework’ will hold you accountable while also serving as a reinforcement for your accountability partner to reference.