Archive for debt
Internal Changes
Posted by: | CommentsWhen I coach or teach people, the ones that make the most progress are the ones that bring the lessons deep inside. Simplifying or any other change works better if the changes are internal as well as external.
Photo by Jeff Dargis
You can do all the time tricks in the book, but if you are still rushing to please some inner critic or because you feel you aren’t good enough you may not slow down. You need to figure out the internals. Notice what is happening.
You can work on decluttering, but if you haven’t dealt with the belief that ‘more is better’ it’s going to be a tough battle.
If you simplify your life without figuring out your values, you may be living a simplified, but boring life. One that is not for you.
Paying off your debt is great, but until you know why you got in debt in the first place you may be in the same place in a couple of years.
If you don’t practice saying no because you are afraid people won’t like you, you will always have too much to do.
Which part of simplifying gives you the most trouble? What underlying beliefs can you question?
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After writing this, I ran across this video from Brene Brown on Listening to Shame. Very helpful in seeing what might be underneath your shell.
Frugal Fatigue
Posted by: | CommentsOn the news the other day, I heard them talk about consumer spending not being up because the economy is getting better, but because of "frugal fatigue." People were just tired of scrimping. Saving is going back down, credit card debt is going back up.
So how can you counter frugal fatigue before you get into financial trouble?
Get your endorphins a different way
Exercise. Play some great music. Call a friend. When a shopping craving hits, ask yourself, "What do I really need and want?" Most likely it’s something that can’t be purchased.
Splurge. A little.
What makes you feel decadent without a lot of money? I love a good Ghiradelli chocolate square. Perhaps a good cup of coffee is yours. Or a jasmine smelling lotion. Sometimes you need to loosen the belt. Do it consciously and without too much spending, then you can get back on track.
Reframe rich
If you are reading this, you are most likely rich according to the world standards. Find out How Rich Are You. Start looking at all the things you already have. Take a look at your clutter BEFORE you go shopping.
Wait
Set up a list for things that aren’t necessities, but you want. Those cool earrings you spotted at the mall. The cute blouse at Target. The book that could change your life you saw at Barnes and Noble. Don’t buy them now. Instead write them down then wait a week, a couple weeks, or a month. Whatever you personally think is good for your impulse control. If you still think they are good buys, go for it.
Enlist a friend
If you have a frugal friend, share your success about saying no, paying down debt, and living within your means. Get a cheering section. Celebrate each debt paid off. If you do’t know any, google frugal groups. Getting involved with people who think shopping with coupons is a fun game can help motivate you.
Do you have frugal fatigue?
Getting Your Financial House in Order
Posted by: | CommentsFinances are one of those things that is easier to let someone else handle – your husband or wife, an accountant, a broker. Maybe you think it’s too scary or over your head. Or you don’t like to deal with numbers.
But, you need to be involved in your finances. You need to know your net worth and how much debt you have. You need to know your credit score.
Otherwise, how will you make good decisions with your money?
If your budget is to pay the bills and if you have money left, do whatever you want with it, you may not be going where your goals are.
If I want to be able to travel or go to plays, then I need to save for them.
If you want to get out of debt, you need a plan.
If you aren’t spending and saving your money based on your values, you will not be as fulfilled no matter how much money you have.
So get together with your spouse or your checkbook and find out for yourself how much is coming in and how much is going out. And does the way you spend and save your money reflect your values?
How are you going to get your financial house in order?
