"Unless commitment is made, there are only promises and hopes...but no plans."
--Peter Drucker, management consultant and writer.
When I'm committed to a savings program, an education plan or a new job search, I usually see concrete results and real progress. Unfortunately, my personal balance sheet also includes a few false-starts, abandoned financial programs and half-hearted efforts. Bottom Line: I could be wealthier and more accomplished if I'm more committed to improving my personal accounts.
Here's how I plan to be more committed:
1. Set realistic goals: Over-reaching is a recipe for failure. When I try to do too much, too soon, I often fail to hit targets and that failure causes me to backslide in efforts to save money and slash debt.
2. Progress reports. At the beginning of each week, I'll establish a few weekly minor financial goals. At the end of each week, I'll review that performance. Progress reports (with baby steps) will build momentum and provide a weekly renewal of commitment to financial goals.
3. Streamline: Simplify! Complex budgets and money tracking systems fry my brain. In contrast, I'm more likely to use a low-key system. With consistent tracking, I'll have a better chance of staying focused on goals.
4. Recruit the family: Getting the kids to really buy into financial goals will reduce the temptation to order take-out pizza or to buy the latest trinket. My kids are really great, but everyone will benefit if the kids have a better understanding of our long-term financial goals.
5. Maintain a diet of self-improvement: A daily program of self-improvement (clutter busting, anti-procrastination, stress reduction, etc.) will enhance the commitment to financial goals.
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