4 Simple Tips to Get Motivated About Your Finances
Updated: Aug 25, 2020
Disclosure: some of the links below are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and sign up to use these tools.
Unless you’re crazy like us, for most people, money is usually only fun to think about when you have lots of it. And yet, we all know the important role money plays in our lives. Since financial habits and behaviors vary from person to person, we wanted to help you if you’re having a hard time getting motivated to deal with your finances.
Because nobody wins by avoiding it.
So how do you get motivated to face the financial music when all you want to do is stick your head in the sand?
Here are four of our best tips to help you get motivated to face your finances and even having a little fun with it!
1.) Start small and go slowly: Instead of setting yourself up for failure with lofty goals and massive shifts in your behaviors, start with small, attainable goals that you can achieve over time. If your goal is to pay off your credit card balance, commit to making the minimum monthly payment. Ready to do more? Find $5 extra dollars, or more, per month to put towards it.
Pro Tip: If you’re carrying a credit card balance each month, pay that off first before investing your money in the stock market. High interest rate debt, like credit cards, needs to be paid off before investing.
Ready to save more for your retirement? Login to see how much you’re currently contributing and increase it by 1% (or more if you can!) - I bet you won’t even feel the difference in your paycheck.
Does this concept sound familiar to you? Perhaps it’s because you’ve heard of the book Atomic Habits by James Clear. Clear’s premise is that if your goal is to become a person with no credit card debt or someone with a large retirement savings, then you have to start with small, achievable goals that are virtually impossible to break.
2.) Login to your financial accounts at least once a week: If you’re the ostrich who sticks their head in the sand when it comes to your finances, then this simple step is especially for you. Even if you’re scared about what the numbers will say, how many transactions you’ve racked, up or how little you’ve saved, it’s ok.
Repeat this to yourself: it’s ok. I am not my financial circumstances.
You may not like where you are currently, but this is not where you will always be. Commit to looking at your finances once a week so that you have a grasp on what’s going on, where your money is being spent, and when you get paid.
Pro Tip: Don’t want to login to a bunch of different accounts? No worries! Apps like Mint (Stephanie's fave), Clarity, and Personal Capital (my fave), allow you to aggregate all of your financial accounts into a single view so you can see all of your transactions in a single view.
3.) Automate, Automate, Automate: If you’re not naturally a saver, and thinking about money stresses you out, then find ways that help you avoid the stress and avoid spending energy dealing with it. The best way to do that is to put your bills and savings on auto-pilot.
Almost all banks have online bill pay which allows you to set up automated repeat payments. Same thing for your savings, retirement, and brokerage (i.e. investment) accounts.
Pro Tip: Spend 1-2 hours setting up your bills, then automating your savings, and then spend whatever is leftover.
4) Make it fun! Join a community of people who share your same goals: Join us for #WinenanceWednesday! Every Wednesday at 8pm ET, we go live on Instagram to discuss a financial topic of the week (be sure to sign up for our email list so you can get our weekly blog posts delivered straight to your inbox every Tuesday!). This fun, judgement-free event allows you to get together with like-minded friends and learn the basics of money management and investing together.
Think about it, if you’re training for a marathon - you don’t go it alone! You train with a buddy or a group to keep you motivated and help keep you accountable. When you join Winenance, you get a community that can motivate and inspire you, while holding you accountable, without judgement or shame. Just like running, each person in our community is at a different place and stage with their finances. And that’s ok! What matters most is removing the stigma and shame from money, and then empowering you with the tools and steps to achieve your goals.
Want to continue the conversation? Join us Wednesday at 8 pm ET on Instagram Live @Winenance for Winenance Wednesday. Can't make it? Watch the replay on IGTV - #WinenanceWednesday. Cheers!
Need help tracking expenses and building your wealth? We’re big fans of these apps and tools:
Disclosure: some of the links above are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and sign up to use these tools.