Personal Finance & The Needed Momentum
- Date: 2010-10-13 - Word Count: 542
Share This!
Possession of personal cash flow plan and the dream of having financial freedom might make it harder for you to stay on the right track. Chances are that you would be so busy pondering upon your perfect situation that you are going to miss out on the important steps that have to be taken in order to acquire financial freedom. Most people know what to do for acquiring financial freedom but majority of them have a problem in having financial freedom in the long run. Momentum is a solution to this problem; it helps you to stay focused on your financial plans.
Importance of Momentum in Personal Finance
Getting started should be the most difficult part of your financial plan as compared to staying committed. Exceptions are the evil in the finance world. They distract you from your plans of financial freedom and thus don't let you stay committed. However the effect of exceptions greatly depends upon how you handle them. To ensure that you stay committed you have to be consistent and avoid making exceptions. No exceptions and consistency lead to an ever gaining momentum which makes it impossible to lose the commitment. To achieve your financial freedom, all you have to do is stay focused & consistent and make no exceptions.
A simple example is of a car, it wields more energy when you start it as compared to driving it. Momentum carries it once it starts. If the car doesn't stop before reaching its destination, the momentum will keep it going without using extra energy. However if it stops various times during a journey, every time that it is needed to start again extra energy will be required to start the car and gain the momentum. It is exactly the same scenario with your financial plan. Once you start it, don't take breaks. If you do, you might lose track of where you are heading and it will difficult for you to re-start. However if you don't you will be more committed to your financial plan and you will achieve your goals soon.
The key to keep the momentum going is not letting distractions intrude. Waving off essentials by simply saying that you are too busy or you can do it later is only heading you towards the danger of the break. If you let this distract you, you will have to restart all over again. Performing little with consistency is better than performing more with inconsistency. A little consistency will bring you closer to your finance goals while it's the other way round for the inconsistency part. To avoid inconsistency, ensure writing your spending journal daily. Don't avoid it because avoiding will only turn it into a huge chunk of work for you which will make it even more difficult the next time. Chances are seeing the size of work, you'd procrastinate again.
Maintenance of Momentum for your Personal Finance Goals
There are a few tips and tricks for maintenance of momentum in your financial plans. You just have to be consistent and have a few finance habits that you must repeat consistently. The word in focus here is consistency. Take 15 minutes daily to write your spending journal. Keep a certain percentage from every pay check for investments and DON'T let exceptions distract you.
Importance of Momentum in Personal Finance
Getting started should be the most difficult part of your financial plan as compared to staying committed. Exceptions are the evil in the finance world. They distract you from your plans of financial freedom and thus don't let you stay committed. However the effect of exceptions greatly depends upon how you handle them. To ensure that you stay committed you have to be consistent and avoid making exceptions. No exceptions and consistency lead to an ever gaining momentum which makes it impossible to lose the commitment. To achieve your financial freedom, all you have to do is stay focused & consistent and make no exceptions.
A simple example is of a car, it wields more energy when you start it as compared to driving it. Momentum carries it once it starts. If the car doesn't stop before reaching its destination, the momentum will keep it going without using extra energy. However if it stops various times during a journey, every time that it is needed to start again extra energy will be required to start the car and gain the momentum. It is exactly the same scenario with your financial plan. Once you start it, don't take breaks. If you do, you might lose track of where you are heading and it will difficult for you to re-start. However if you don't you will be more committed to your financial plan and you will achieve your goals soon.
The key to keep the momentum going is not letting distractions intrude. Waving off essentials by simply saying that you are too busy or you can do it later is only heading you towards the danger of the break. If you let this distract you, you will have to restart all over again. Performing little with consistency is better than performing more with inconsistency. A little consistency will bring you closer to your finance goals while it's the other way round for the inconsistency part. To avoid inconsistency, ensure writing your spending journal daily. Don't avoid it because avoiding will only turn it into a huge chunk of work for you which will make it even more difficult the next time. Chances are seeing the size of work, you'd procrastinate again.
Maintenance of Momentum for your Personal Finance Goals
There are a few tips and tricks for maintenance of momentum in your financial plans. You just have to be consistent and have a few finance habits that you must repeat consistently. The word in focus here is consistency. Take 15 minutes daily to write your spending journal. Keep a certain percentage from every pay check for investments and DON'T let exceptions distract you.
Related Tags: money, savings, cash, presonal finance, financial momentum
Your Article Search Directory : Find in Articles
Recent articles in this category:
- Need An Ebt Card Or Food Stamps?
Applying for food stamps can be a very overwhelming and embarrassing task. Knowing what to expect th - Quick Money Loans What You Should Know
If you are looking for a quick money loan there are a few sources available, and just like any other - Same Day Cash Loans - Quick Help When Fiscal Requirements Force You
Life of human being is completely dependent on cash that establishes the life of one comfortable or - Unemployed Loans - Don't Accept Debacle Against Fiscal Requirements
In today's time, what imperative complication is increasing at the rapid pace for people? It is the - Get A Secured Credit Card To Rebuild Your Credit
The recession has spoiled the financial plans of many. Some have maxed their credit cards out, other - Ways To Create Profitable Cfd Trading Strategies
Understanding the connection between 2 significant ratios is the key to having winning CFD trading s - Can I Save Money At An Outlet Store?
Everyone loves to know they are getting a good deal when they are shopping for something. It could b - Used Car Donation Program Worth The Cause?
Used car donation program may not be the best option for many. Before you call me selfish and Paroch - Who Controls A Business's Asset When It Files For Bankruptcy?
Individuals who wake up and find themselves knee deep in debt, with no recourse to repay the debt, h - Unsecured Loans For Unemployed - Kick Out All Fiscal Crises
In this competitive world, unemployment creates many hard situations. People who are unemployed and
Most viewed articles in this category:
- Proposed Changes to Bankruptcy Law in Scotland
A bill has been proposed in Holyrood, the Scottish Parliament, which would align Scotland’s ba - How To Create Your Own Emergency Fund
Do unexpected car repairs, quarterly insurance payments or unexpected medical bills find you hard pr - How To Make A Personal Budget
There are many types of budgets that people use in their daily life. For instance, there are budget - Easy Cash Loans To Meet Immediate Cash Need In The Most Convenient Way
A financial crunch can happen to anyone at anytime in life. A few years back, I was stuck in the sam - Credit Counselors Offer Advice to Avoid Debt This Christmas
The holiday season is a great time of year for most of us, but it's also a time of year when we want - Save More/Spend Less - Become a Saver not a Spender
Our personality and lifestyles affects our ability to save. Most every action we take (including tho - Saving Money In College
Have you ever found yourself eating Cheerios for dinner while sitting in your dorm thinking about ho - Seek Unsecured Loans And Avoid The Threat Of Repossession
It is quite natural that people don't want to have the threat of repossession of their property whil - Investing - Tax Shelters Equals Big Fine For KPMG
What happens when a world renowned accounting firm decides to market tax shelters to its elite clien - Teaching Kids to Save--It's More Than Just Numbers
Did you know?<b>• The fastest growing group of bankruptcy filers is those 25 and you