Why Everyone Needs Patience When Managing Money

Money management is a continual process. That both good and bad news.

You don’t need to achieve everything today. You have time, in fact, you have the rest of your life.

It also means that you are never done with managing your money. There is no finish line to cross.

Since managing your money is a continual process it worth looking at how we can keep long term goals. Why did we give up on our goals? How can get better at following through? What skills do we need?

Patience

One of the most important things to have to manage your money is drum roll please, patience. It is not complicated or hard to understand. You all know what patience is.

We get to some more practical real life things you can do to help you pursue long term goals later. Because there a reason I start with patience. If you have patience it helps you reach your goals

As this article nicely shows patience is a good skill to have. And reason #3 is patience helps you reach your goals.

This isn’t something you do it more of a mindset. Your long term goals are going to take a long time to achieve. Otherwise, they wouldn’t be long term goals.

Get more comfortable with that fact. And stop pressuring yourself to accomplish things now.

Be willing to change your plans

Sometimes no matter your best intentions. The goals you made and the plans behind them don’t seem to work anymore. You could be the most patience person in the world but that won’t fix the problem.

So be flexible. Love your goals don’t love the plans.

Things change and your plans might stop working. Don’t be afraid to tinker with them. Look for alternative ways to reach your goals.

It rare that there is one way and one way only to reach a goal.

Let look at a saving goal for an example. There are a couple ways you can go about saving more. You can cut back on your spending or you can earn more.

So if one way to of reaching your goals isn’t working out try something else. Things change so your plans should too.

Keep things simple and automatic

Why make things more complicated than need? Especially with long term goals. Do you self a favour and keep things as simple and automatic as possible.

Try to take away your active participation. For example, I have a savings goal for retirement. It’s set up an automatic transfer on the 4th of every month the money gets transferred into my retirement account.

It requires zero effort from me. Since it just happens automatically I don’t question the whether or not I should do it. And I don’t even need to think about it.

If you are going to have to do something multiple times doesn’t it make sense to make it a simple thing? Or better yet set something up that does the work for you.

Have short term goals

This might seem contradictory. After all your just giving yourself more to do.

The benefit of having short term goals as well as long term goals is that you are finishing things. And finishing things feels good. It also gives you the motivation to do more things.

Make a conscious choice to quit

Don’t give up on your long term goals. Use the above strategies to try to reach your goals.

Occasionally you should quit things. Quitting is rarely the best option so try everything else before this.

If you are going to quit though I want you to make a decision to quit.

So often we don’t so much quit things instead we slowly give it up.  You have been working on your goals for a while then slowly you stop working on it and eventually you quit trying.

I don’t want that to happen with your money management goals. If you are going to quit long term goals I want you to think about it and then make a decision.

Why are you going to quit your goal? Is there another approach to meeting that goal? Do you need a different goal?

If you have to quit your goal think it though. Know why you’re quitting. And consciously make the decision to quit.

Quitting isn’t the best option. I want you to reach your goals not give up on them. Have patience and put in the effort. You got this.

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Why you need patience when managing money