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Making ‘Change’ with Money
By Helen Dutton
From the April 2006
Issue of Applaud Magazine
A: It’s easy to feel overwhelmed when faced with multiple changes – whether it’s about money, relationships, or career. Humans are programmed to resist change; when we want something new that’s exactly what’s required! So how do you go about changing your financial picture? Consider these three tips:
Take one step at a time. When we rattle off all the changes we need to make, the tasks to do, it’s easy to think, “How will I ever get this all done?” You may have created many action items to help your financial picture. Great! At this point you may feel paralyzed – not knowing what action to take first so, instead, you don’t take any action! Instead of a laundry list of ‘To Dos’, ask yourself this question: If there was one change that would most improve my financial situation, what would that change be? Then, focus on that one change for a prescribed period of time. Give yourself a reasonable deadline to make that change and then move on.
Keep the end in mind. Imagine going on a road trip. You would usually choose a destination and then choose a route to most effectively get you there, considering your goals and aspirations for the trip. If you want to reach California you would generally head west from New Hampshire. You might take a side trip or two but your navigation system would steer you back on track to head west. The same is true with reaching your financial goals; know where you want to end up and keep heading in that direction. You may get sidetracked – we usually do – but keep your goal your focus. Use visual tools to help keep you on track. Think of how good it feels to see a mileage sign along your trip and you say, “Hooray! We’ve already gone 150 miles. Only 75 more to go!” Create the same ‘signs’ for your financial destination. A client of mine once decided she was ready to tackle her debt. She was an engineer, her husband an artist. Color energized them both. She created a big, colorful bar chart, posted it in her bathroom, and as they paid off debt, they filled in the chart with glitter, stickers, bright markers. That chart reminded her daily of where she wanted to be and why she was taking action – debt free.
Build a support structure: maybe a friend, spouse, financial advisor, or coach. A critical element of building a support system is knowing what you want from it and letting that person know. For example, if you are cutting back on spending, let a special girlfriend know and enlist her help. Agree to cook dinner for each other instead of meeting at a restaurant. If paying bills is stressful for you, ask your spouse to share the responsibility with you. One person stuffing the envelopes while the other signs the checks provides a good time to talk about your financial goals or just catch up on your days.
When it comes to money,
making change just makes sense!IHelen Dutton, is a Business Coach and owner of A Vision Of Your Own. She has over 16 years of financial, operational and managerial experience in the Corporate arena. She is a graduate of Coach U and a member of the International Coach Federation. For more information call (603) 529-2345 or visit her website at: www.avisionofyourown.com
