My Favourite Reasons To Get Smarter With Money
I’m not a big fan of new years resolutions. When you really want to do something, can’t it happen at any time of the year? Unless you’re motivated, committed and have a plan, these resolutions often get shelved before they ever begin.
However, some serious reflection on where you’ve been and where you’re going is always a good thing.
Did you make progress in 2014 with your money goals? If you did, big congrats…I wish you more of the same for this year! If you didn’t, stop beating yourself up; we can all do better. Wipe the slate clean and give it another try. It takes as much effort to dwell on past money mistakes as it does to plan and improve even just one area of your personal finances.
Nobody’s perfect. I tend to be pretty good with my own financial goals but am seriously lacking with my fitness goals. The way I figure it, I can’t help but improve my exercise regimen in 2015 (I’m starting from such a low base!) I resolve to get back to the gym (once a week, at first, moving up to three times per week, the sooner the better) and not let “small misses” impact my long term progress (like I did in 2014). There, I’ve said it (and put it in writing for all to see!)
Enough about me…on to YOUR money goals.
Here are my favourite reasons to get smarter with money in 2015;
1) Feel Good About Yourself And Your Life
Regardless of how much you earn, if you take better care of your money, you will worry less and enjoy life much more. Money problems are one of the biggest predictors of relationship problems, health issues and unhappiness.
2) Small Steps Lead To Bigger Changes
Often, the toughest part is to just get started. Somewhere, anywhere. Pay off your December credit card bill by February, reduce your mortgage principal with your year end bonus, invest 1/2 of your 2015 salary increase (and make it automatic). Any of these steps will make a positive difference and may inspire you to do more.
3) Improve Your Relationships- Your Loved Ones Will Thank You!
Improving your finances impacts your loved ones in a positive way. If your kids are young, you will be an excellent role model for their future financial behaviour. If your kids are adults, you will reduce the likelihood that they’ll need to support you financially later in life. Either way, you’re doing your kids a world of good by taking better care of your money.
4) Learning About Money Makes Your Future Brighter
Life is a roller coaster ride (and having some savings can cushion the bumps). Sometimes, hoping for the best but preparing for the worst is the right thing to do. Educating yourself about ways to earn, keep, protect and grow your money is priceless.
5) Avoid Money Troubles BEFORE They Happen
Do you know anyone who’s filed for bankruptcy? Trust me- it’s much easier to spend less NOW than dig yourself out of a bigger financial mess later. Overwhelmingly, most people wish they started to save earlier in life. Developing smart financial habits gets easier the earlier you get started so don’t wait any longer.
6) Improve The Odds of Achieving Your Goals
Have a dream? Building wealth opens up a whole new world of possibilities. Imagine reaching financial independence and no longer needing to work for a living. The freedom to choose what you do with your time (or who you can help) is a wonderful thing!
What are you waiting for? Make 2015 the year you learn more about money. I wish you luck (and don’t forget to hold me to my fitness goals)!
If you think (financial) education is expensive, try ignorance…Andy McIntyre
Proud founder of this blog Let’s Talk About Money, Patricia Gass, CPA, CA, provides personal finance coaching and education to improve your money skills. Follow her on linkedin, twitter or pinterest