Friday, January 21, 2011

Tip of the Week January 14-21

Financial Self-Sabotage
Are you guilty of sabotaging yourself financially? If you answered no, then you are probably lying to yourself. We all have done it at times, I know I have. So how do you avoid the pit falls of self sabotage? Whether you are talking about becoming financially fit or physically fit, the solution is one in the same- permanently changing the behaviors that led to the anorexic savings and bloated debt loads. That's right, this is the reason why so few actually get the long term results that they want. Think about it, our brains are hard-wired to seek pleasure and shy away from pain. Delaying a purchase or telling yourself 'no, not right now' is painful, especially at first. Think of this as an exercise building strength and memory, only for your wallet.

Homework:
I want you to sit down with a sheet of paper and think of every reason that you use to sabotage your finances (you may even need two sheets of paper). What's your negative self-talk when it comes to the way you handle your money. This could be anything, 'I spend too much', 'I'm too busy to think about it', 'I don't make enough', 'I make more than enough so it doesn't matter', 'I'm in too deep', 'It's only this one time', 'I'm having a bad day'. The list could go on and on. Think on it long and hard. The point I want to reach is that these are ALL simply excuses. They are the symptoms, the surface. Next, I want you to go back through your list and answer, 'why?' to every excuse you came up with. Why you think X makes it okay in your mind to do Y. I guarantee that if you do this and really search for 'the why', you will get down to the deep rooted issues of what led you to where you are today. Until you know the real reasons you will never see any lasting results.

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