Moving towards your financial goals

A financial goal can seem futile to reach and often competes with your life and needs as it is today.  However continuing to shift your awareness to your goals and setting your goals appropriately can help. 

You have a financial goal which may include saving for a mortgage, improving your emergency fund or buying a car.  However, your financial goal may seem too far away, especially if it is to increase your retirement fund.  So, how do you increase your motivation to save?  Saving may mean reducing spending on things you enjoy such as eating takeaway, reducing subscriptions and reducing costs on entertainment.  Your thoughts may stop you from reducing costs as it may seem that your quality of life today is more important that the future. Another unhelpful thought may be that you probably won't live beyond tomorrow or 65 so why bother.  

Sitting with your negative unhelpful thoughts is a strategy you can use.  Also being aware of your emotions while you apply your strategy to reach your goals will also help.   While it can be easier to say rather than do, shifting your awareness back to your goals when you have the urge or thought to spend is important.  

Chunk your big goal into smaller ones.  Give yourself a reward when you reach each smaller goal.  As long as there reward is not another expense. Prepare a vision board of your big goal to keep reflecting and remembering on what you need.  Remind yourself why you set that goal up. Focus on your needs first before what you want to prioritise.  Sometimes you may need support to go through these processes and talk about why it is so difficult.  If you need more help to manage your emotions, motivation and thoughts in a safe non-judgemental environment, then we can help through financial therapy sessions.  



Disclaimer: 
The information provided above is not financial advice but intended for general information only.  If you need help with improving your financial literacy and support to improve your financial behaviour and mental health, contact us today.  For specific financial advice you can reach out to a financial planner.