Perseverance, The Key To Your Financial Victory

Where are you on your financial journey? Are you just getting started? Have you been at it for a while?

How are things going for you? I think it is important to remember that the path to financial well-being is not a 100 meter dash. It is indeed a marathon.

I can tell you that there will be good days and difficult days. Recently I heard leadership expert John Maxwell say,  Good things don’t come quickly. Good things come over time.

In order to stay in the battle for the duration you have to be ready to deal with obstacles.

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You will face 3 Big Ds in doing anything that is worth doing: Distraction, Discouragement, and Doubt.

How do you keep fighting until you achieve victory?

You need perseverance which Merriam-Webster defines as “continued effort to do or achieve something despite difficulties, failure, or opposition“.

So here are 4 reminders that will help you persevere until your financial victory is achieved:

1. Remember the Why

In the midst of the day-to-day grind, you have to keep the big picture in mind. You could easily get distracted from the goal with everything that it is going on and you might wonder if it is worth it.

You need to remind yourself  that you are doing this because you want to take care of your family. You want to be free from the slavery of debt. You want to have savings for emergencies and for the future.

You want to retire with dignity. You want to leave a legacy for your family. You want to give generously and help others.

2. Relish every Victory

It might take you several months to achieve total victory. As the saying goes, Rome was not built in a day.

However, it is important to take time and celebrate your victories. Did you have your budget meeting for this month before the month started? Celebrate!

Did you actually finish your beginner’s emergency fund? Celebrate!

Did you pay off that first credit card? Celebrate!

Enjoying the victories along the way will help you to stay focused on the goal.

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3. Remember How Far You Have Come

When you face a difficult day or week, you might be tempted to give into being discouraged. That might be a good time to reflect on what you have accomplished to this point.

Maybe you now have a working budget. Maybe you have knocked off a couple of items on your debt snowball.

Look at all the progress you have made. It will encourage you and give you renewed energy to keep going.

4. Rest on the Truth

You might face doubts of whether this will work or not. However, these are God-given, time-tested principles for winning with your finances.

Use a budget to live on less than you make. Save for emergencies and for large purchases.

Break free from the chains of debt. Plan for the future. Give extravagantly. These principles work and that is the rock solid truth.

Don’t you quit. Don’t stop. Don’t you give up until victory is achieved. Persevere!

“Discipline, not desire, determines destination.”
Dr. Charles Stanley

Please leave a comment below and share what has worked for you to stay motivated.

Yes, You Can Win With Money

My wife Stacey completed her first 5K run yesterday. This was a goal she set for herself a couple of months ago. She prepared herself by finding a training regime and executing it with great commitment by training regularly. During her training, she had to deal with an injury to her heel but this did not stop her. Instead, she found information on how to treat her injury and she also sought advice on her running shoes. To sum up, she kept going in spite of the obstacles. Finally she achieved her goal by running and finishing the race. I am very proud of her and I know this is not her last race.

What can we learn and apply from Stacey’s achievement with regard to your finances? Here are just a few lessons you can apply so you can win with your money:

  • Start where you are. Stacey had never run a 5K before so this was new to her. In your case, control of your finances may seem out of reach. But it is not. You can start today because if you don’t tomorrow you will be in the same place you are today.
  • Set a goal. Stacey’s goal was to enter and complete a 5K race. She picked a specific race with a specific date. A specific goal will help you determine the necessary steps. What are some goals you could set for yourself? Here are a couple: “I will have a working budget starting in November“; “I will finish my beginner’s emergency fund by Dec 30“; orI will pay off all of my consumer debt by June 2013“. All of those goals have a specific target with an actual end date.
  • Prepare yourself. Gather information, gain wisdom. Take a class, read a book, research financial blogs. Learn about the different ways to prepare and track a budget, how to get out of debt, or how to prepare for retirement. The more information you have, the more prepared you will be.
  • Fight against discouragement. Whenever you attempt change, difficulties will come. Don’t give in and don’t give up. Keep the goal in mind. Get some wise counsel around you, keep fighting and keep going.
  • Follow through. There is nothing that fuels your fire more than achieving a personal goal. It shows you that it can be done and it gives you the momentum to keep going. You will be more energized to set the next goal and take the next steps. And don’t forget to celebrate your wins!

Yes, you can win money. It takes determination, preparation, and execution. Choose this day to change the direction of your financial destiny.

“The plans of the diligent lead surely to advantage, But everyone who is hasty comes surely to poverty.”
Proverbs 21:5 (NASB)

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