In Summary
  • When you try to do something huge, it takes forever to see any movement, and this can be discouraging.
  • That is why baby steps are important.
  • For example, if you want to start saving and you feel as if the recommended minimum 10 per cent is too much, start with one per cent and work your way up.
  • Start small and watch yourself grow.

With just 50 days to the end of 2017, end-of-year remorse is rife. The year has flown past and perhaps there is nothing much, in terms of financial growth, to show for it.

You knew what you wanted, why you wanted it and had it down on paper, so why haven’t you gotten it? Here are some possible reasons:

1. You were not willing to leave your comfort zone. Getting to your goal means doing things differently. Are your habits and budget allocations moving you forward? Change may mean cutting out some of the comforts and conveniences that you are used to in the short term for the sake of mid- to long-term gain.

This will cause discomfort, but it will eventually become the new normal and you will begin to reap the fruits of your choices.

2. You failed to do the work. If you wait for the day you will have enough inspiration, will-power or self-control, you may never make progress. Figure out what needs to be done, then come up with a financial plan to help you do it.

3. Your goal was not well-defined. What exactly do you want or need? If you want to go on holiday at the end of the year, where do you want to go, down to the hotel you want to stay in, the activities you want to do, and other associated costs? Having a well-defined goal with a price tag makes it easier to track progress.

4. You were too busy trying to catch up with the Joneses. Are you pursuing what you really want or what you think other people would want you to achieve? When you get lost in the rat race of chasing validation from other people, you lose sight of the goals that truly matter to you, and you won’t channel your money and efforts to what you really want to achieve.

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