Find your financial purpose

Having a big why makes the how of money management feel more possible. If there is a real purpose driving your plan you will feel more compelled to save instead of deprived when you don’t spend. The sense of purpose creates a real shift in attitude that helps you see it isn’t that you can’t spend but that you are choosing not to spend. You are choosing your big why over a small, fleeting pleasure. Your sense of self is immeasurably bolstered by making a plan and sticking with it – much more than it is by getting another tech gadget. What is your big why? Is it saving for a house you can raise your children in? Is it knowing you can take care of yourself and pay your bills? The security of having a safety net to handle emergencies? Planning for a comfortable retirement? Maybe it is saving enough money to start a business or buy a car. Name your big why now and use the passion you feel to help you figure out the how (of saving/getting the money to fuel your why).

What is the purpose of money in your life? What role does it serve?

Think of a time when you saved a lot of money. Was it for a wedding, to buy a bike or even a car? Or was it to take a vacation or buy a house? You were able to do that because you were motivated by a very specific and desirable reward. To repeat that same habit in your daily life it is important to identify whatever that thing is (your why) that is so desirable that it makes the impulse to buy seem pale in comparison. Think not in terms of what you can’t buy but what you will be able to do as a result of your choice not to spend in this moment. Remember, money gives you options. If you have $500 saved you can better handle emergencies. It doesn’t matter how little you have to start. It only matters that you protect your financial future by making a savings plan in the present.

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