Hey everyone! If you are stopping by from GRS, thank you. 🙂 My name is Michelle and I've been blogging since August of 2011. You can read all about my life on my About Me page. My extra income posts seem to be popular, so be sure to read those. Last month I made almost $8K in side hustle income. Hopefully it'll just keep increasing!
Today, I have an awesome post from Natalie at Debt and the Girl. Enjoy!
I have to say that ever since I started this journey to rid myself of debt, it has sometimes been a struggle to stay motivated. We all have experienced burnout when we put our all into something and its only natural. No matter how much determination you have for something, it is normal to lose motivation especially when it is one of the things you think about most of all. Blogging in the PF community has been an immense help in staying determined with this, but what else can you do to stay motivated?
One of the things that have always been the downfall of many is hanging out with those who have different priorities. The same can be said when you are trying to save money. If you have many friends that are looser with their finances, then you may be tempted to spend to keep up as well. For example, I have a friend who treats money like water. By that I mean, she thinks it will never run out. Some of her crazier purchases include a $200 sun tent that she only used once and several expensive handbags that are collecting dust on the shelf.
Her parents have always helped her out with money and so she has never really learned to deal with it. I love her to death but I have had to tell her that I can’t always go to the fancier restaurants because I am trying to pay off debt. Luckily, she understands and we are still able to have cheaper outings on the cheap. I also try to read as much as I can about what others are doing to save money. This is not solely reserved to reading PF blogs.
One of my favorite things to do is read economic articles on MSN Money or Yahoo and read up about how others budget and live. I have even found valuable advice on sites like Pinterest that have all kinds of ideas on saving money such as making your own laundry detergent or making your own face masks. There have also been many articles lately ton the internet hat center on everyday people paying off enormous amounts of debt through hard work and determination.
I like to read those to further re-motivate myself to keep doing what I am doing. Probably my biggest motivator is the thought of being financially independent. The idea that I can one day achieve my dream of being secure and be comfortable in life no matter what is what gives me the energy to keep going. I know that I can realize my wishes by working hard and being self-disciplined. For all my efforts, I do try and do fun things for myself as well so that I don’t completely run myself down. It is important to have little splurges in life so that you can enjoy things and not hate everything in life.
Staying motivated can be tough but its important to keep yourself going:
- Hang out with people who share your goals if possible.
- Read as much as you can for knowledge and inspiration.
- Don’t forget why you started being frugal in the first place and know that there is no greater feeling than being financially sound even when everyone else is spending up a storm.
- Know that what you are doing is for the best in the long run and remember to do fun things for yourself to keep things interesting.
The path to financial independence is long but it is so worth it in the end. I can’t wait till that day is here. Natalie is writer, instructor, marketer and a full time debt destroyer at her PF blog. Read more about her story at debtandthegirl.com!
What are you doing to stay motivated with your finances?
What are your financial goals?
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I agree with the comment, hanging out with like minded people. Also avoid areas of temptation, such as shopping malls.
I agree. Avoiding big shopping areas is great way to avoid temptation. Thanks for commenting!
Great tips on how to stay motivated. Another tips is to have a splurge budget of 3-5% of net pay to do as you please. This will keep you happy and on track.
Sounds like you’ve got a great outlook. It can definitely hard to be different from your friends, but it helps when your friends are at least supportive, as yours seems to be. I do agree that hanging out with like-minded people helps you stay on track, but I also think it’s worthwhile to seek out people with different viewpoints, just to expose yourself to other options. As long as those other options don’t end up leading you down a destructive path
Yes, my friends are supportive which makes things so much easier.
I think this is the hardest thing for me to do: “Hang out with people who share your goals if possible.” I have friends with a wide variety of goals, opinions, and lifestyles, some that are drastically different than me. I do like hanging out with people who have similar goals, though, as it can motivate you to work towards your own.
Some people will not share your goals which can make things hard. If you do have people in your life that support you, then thats fabulous.
Very nice post Natalie! For me I “try to hangout with people” who share my interests and goals but some times they are hard to find so I actually email and Skype people I know online who share those goals. I actually make a spreadsheeet of goals that I want to accomplish with dates to have them completed. Each month I have reminders to check in to see where I am. It no longer bothers me what others do since I don’t want them bothering me about how I do things. As for financial goals I want to be financially independent within the next six years, have multiple income streams, and no debt.
Wow, you sound very organized. I need to be more like you 🙂 Thats great that you have things planned out.
I stay motivated by keeping close track of the numbers, my savings, and my spending. Watching it closely is the only thing that keeps me motivated to do the right thing and keep on track with my goals.
Thats great. I agree that reviewing the numbers helps keep me on track as well. Thanks for commenting!
It’s true: by surrounding yourself with good thoughts and driven people, you’re much more likely to achieve big goals.
I agree! Thanks!
I like to think of saving money as a challenge or a game. The money I throw at my debt is like points. If you think of it as money, it may be harder to part with it. So if you think of it like a game, it makes it easier to stay motivated and keep at it. Having a self-proclaimed cheap girlfriend and friends that like to do inexpensive activities also helps for sure! We’d much rather have a potluck BBQ then go out to a fancy restaurant…such as tomorrow for the Hawks game!
Yes, it def. helps if your partner is cheap LOL. Its good you guys have alternative ways of having fun without breaking the bank.
Great post, Natalie, and congratulations on your determination to kick debt to the curb! I’ve used visual cues to help me in many areas of my life where I’m trying to build good habits. These “cues” come in the form of:
– Spreadsheets showing my progress.
– Written goals posted in a conspicuous place
– Things around the house that constantly remind me of the path I’m on and where I want to be. (See my Visual Cues post for more on that).
All of these things are free to do and can have a major impact. I leave them up/around all the time, even when people come over. Sometimes they laugh at me…so what…they’re my goals, and it’s my house. At a minimum, it usually turns the conversation to good money habits at some point during the visit and that’s never bad!
Thank you. You sound very organized and determined. I admit I haven’t gotten around to doing excel for my spending but I do run the budget a few times a month to make sure we are on par. It certainly helps.
I think about my goal mainly. Do I want to spend or do I want to go on holiday next month? to buy a house? to retire early? usually long term wins.
Long term usually is for the best. Thats what I hear anyways 🙂
I too have a friend who treats money like it grows on trees. Like you said, it’s best to stay away at times so that you’re not tempted. Thankfully, I don’t have any debt right now, but that doesn’t mean that I should start accumulating it. Justs stay strong and reward yourself from time to time. It will help.
Yes, stay away from debt if you can! I do try and reward myself too, though. You have to have a balance. Yesterday, my bf and I went to have a semi-cheap dinner at a nice restaurant so that was fun since no one had to cook!
My wife is also frugal so it definitely helps to motivate me. And I agree with your #4…I generally have a long term outlook and I know that the future me will thank me for being frugal.
I agree. Thanks for commenting!
I stay motivated by completely surrounding myself in what I’m working on. I love that there are so many different facets of personal finance because I can have a little variety but still stay motivated with personal goals. I’ve found that I lose motivation most when I add new focuses in my life, so I like to keep things streamlined.
Thats def. something I need to work on. It is a habit of mine to do too many things at once. Hopefully its something we can both work on.
Saving is pretty much just a part of my life. I don’t even think about it anymore. I think it definitely is helpful when those around you have similar goals and priorities. Keep your eyes on your goals!
I agree. Thanks for commenting!
Staying away from people who tempt you to spend more money is a great idea. Hopefully, you might rub off on them if they ever get tired of wasting money.
I can only hope:)
I always focus on my long term goal. The good thing is my mind is built like a tank. I will tank through everything in order to reach my goals. Good and bad.
thats good. Keep up the good work
Thanks for this guest post. There are some good tips in there, and I think motivation is something that everyone struggles with sometimes.
I lean on my confidant for new ideas, motivation, or just to rant occasionally re: my finances. I find, as others have, that my goals are sufficiently different that I haven’t been able to find a big group of local friends who think similarly, but rather have one friend who’s my partner in FI, so to speak. We talk once or twice a week, share progress and tips, and that keeps me motivated.
You’re welcome. Hope you enjoyed it.
We’re kindof nerdy, but graphs and charts help keep us motivated, as does having people to talk about our goals with =)
Nerdy can be good. Especially if its helping you pay off debt.
It is always good to be around like minded individuals, but I am able to happily blend with those that are not. I understand my own goals and can easily say no to others that don’t understand. I stay motivated by creating goals and making sure that I hit them.
Thats good. Its good also to have different friends cuz that makes life interesting. As long as you can make it work
I keep myself motivated by thinking about the vacations that I want to take.
Hahaha. Yes, that it is a great motivator
I’m a competitive person so I always just have to make a game out of it. I try to save a certain amount of money through frugality and then try to beat that the next month!
Thats a good game. Good luck!
I think what keeps me motivated overall is how much my stress has been reduced from a year ago. I agree that you need to surround yourself with supportive friends.
Stress reduction is def. good. I know that keeps me motivated
Thanks for sharing these great tips! I especially agree that hanging out with those who are on the same financial path is a key to success. I also agree that knowledge is power, which is why I have been reading Usiere Uko’s book, Practical Steps to Financial Freedom and Independence: Your Road Map to Exiting the Rat Race and Living Your Dreams. The book is humorous, personal, and has some great insights on how to improve your finances for a better future. I highly recommend this one. You can find the author’s website here:
http://www.financialfreedominspiration.com/
You’re welcome. Glad you liked it.
Awesome tips on staying motivated. For me, writing about spending, saving and frugality is a good motivator for me. I feel obligated to practice what I preach.
That helps me too. Writing helps me tons and it helps keep me accountable
Thanks for your great article. I tend to be a creature of extremes so my goal is always to pace myself with changes to my financial habits. If I try to go extreme, I get debt-fatigued (is that even a word?) and just toss the whole damn thing. This time around – since starting my blog – has been successful because I’ve been able to join a community of like-minded people who are able to support and inspire with their article and comments. I also like MSN Money and Yahoo articles! All of these things keep me motivated.
That’s the problem with me sometimes. I feel motivated at first, then as time passes, it also diminishes. Even though I want to stay focused on my goal ,there are unforeseen circumstances that shaken my beliefs. I know I shouldn’t let it happen that way. Still, I am determined to reach my goals and be frugal.
I really can’t give up my shopping habit and not even can compromise for the quantity of the shopping If I need 10 dresses means I need 1 dresses.. but coupons are there those keep me motivated for being frugal as with on-line shopping coupons I can save up to 70% of the shopping expense.. On-line Shopping coupons are the true motivators.
Thanks to retailmenot, ClothingRic.com, LavishCoupon.com, Groupon and other on-line shopping coupons providing websites.
When we were working on getting out of debt, I kept a list of all our debts on the refrigerator, and I updated our debt pay off date every month, so we could see our progress. Using the debt snowball was huge because we got a taste of success early on paying off our smallest loans first. It was so motivating to keep on going towards our goal.