Financial Momentum Changes Everything

Momentum has often produced feelings of oddity, been looked at obscurely, and relegated to our pay-no-mind list as fodder from the sports world. Especially in the arena of our money, momentum seems to have little if no applicability. Often, we stare at our bank accounts with dis-jointed looks adorned on our faces, wondering how we got here and how in the world we can get out. With heads slumped in hands we have uttered the phrase, "I make too much money to be this broke”. We continue on life’s treadmill never taking the time to hit the stop button, get off, and take a look around for another way. How did we get here? How do we get out? One word, momentum.
Getting started on the path of changing our financial destiny takes courage, mindset, and the ability to create momentum. How do we create momentum? It’s easier than one might think, but the courage to take the leap has paralyzed us with fear. Fear of stopping the treadmill and lack of knowing what’s next, fear of not enjoying our money, and fear of change. Changing habits and reinforcing those habits create momentum. That momentum is the life blood of changing our destiny, springing new foliage on the family tree, changing it’s make-up for generations.

Here are three areas to identify ways to create momentum

Get Off The Credit Treadmill
Credit card users on average spend 18%-24% more according to Thomas Stanley’s book The Millionaire Next Door. The convenience of plastic creates a disconnect between us and our money. Cold, hard earned cash in our hand forces a habit change that makes us pay attention and spend less.

Create Your Budget......and Stick to it !!
Put every dollar you are going to earn next month on paper with a purpose. Then systematically tell your money where to go before it gets here. Creating and sticking to your spending plan puts you in control and creates awareness of where and how we are spending money. When you are more aware you pay more attention. A budget should start with church, house, food, utilities, pay off debt, and then the extras ( cable, cell-phones, etc.). 

Pay off Your Debt
Debt equals risk and risk is a lay-off, medical problem, car accident, or broken furnace. Living payday to payday does nothing to insulate us from that risk. There is no magic pill to stay above water, to create breathing room we have to change the habit of accumulating monthly payments. Listing our debts smallest to largest allows us to start attacking the smallest one with intensity. That intensity creates the momentum needed to keep going until we are debt free. As you move through your debts, it is habit and momentum that carry you through, not a magic pill.

Breaking the chains of debt that shackle our finances allows us to take advantage of the greatest personal financial tool we have, our income. With control we can give to charity, prepare for retirement, send our kids to college debt free, and give some more. Momentum is the key to unlocking those chains and stepping off the treadmill that has us so tired. Get control, create momentum, make a change.

Email any questions to Jsergeantmail-money@yahoo.com, follow me on Twitter @_Sergeant