Personal Finance Isn’t Rocket Science, It’s Self Motivation
By Jeffrey Strain
“How do I get my personal finances in order?” This is a question that I get on a regular basis. While personal finances seems to be intuitive to some people, there are many people that have a lot of trouble figuring out what they are supposed to do.
The first thing that is important to know is that there isn’t a single “correct” way to save money and get your personal finances in order. What works for one person may not work for another. Individuals need to look at their specific circumstances and learn what motivates them to take action to get their personal finances in order.
Saving money is definitely not rocket science. You already know most of what you need to know. There is, however, a huge difference between knowing what to do and actually doing it (and thus the great importance of finding what motivates you).
Not sure how good you are at taking the knowledge you have about personal finances and putting it into action? Take this short quiz and see how you score. You likely know you should be doing all the stuff that is listed, so the quiz should give you a general idea of how much you are putting into action.
If you find that you need to place more of your financial knowledge into action, here is a good way to encourage the motivation:
1. Write a list.
2. Set financial goals.
3. Create concrete and personal reasons.
4. Create mini goals.
5. Keep a daily financial journal.
6. Don’t keep it a secret and involve the entire family.
7. Keep your goals visible.
8. Chart your progress.
9. Join financial communities.
10. Be patient.
11. Reward yourself.
12. Be prepared for setbacks.
If you can find the means to motivate yourself to begin implementing the financial knowledge you already have, you have the foundation reach any financial goal you desire.
Image credit: topshampatti
I believe that people should do their very utmost to pay off their obligations. That being said, there are times when bankruptcy may be an option. Unfortunately the answer is never black and white and many things will depend on your particular circumstances as to whether bankruptcy is the best option.