Looking to Improve Your Finances? Go on a Financial Fast!

If you are looking for a bright start to your financial future, try going on a financial fast. Follow the steps below to make your fast a success!

• Refrain from spending on anything except basic necessities. Resist the urge to use your credit or debit card, opting only to use cash for purchases. Stay committed to keeping your spending in check by breaking the bonds that are keeping you in a struggle with your money; this often takes the form of unnecessary spending.

• Get out of your own way. Stop taking steps or actions that keep you trapped in a financial tidal wave. Spending too much or giving into cultural signs involving “keeping up with Joneses” can derail our efforts to stay financially stable.

• Avoid feelings of entitlement that often get transmitted in the form of advertisements that suggest that we can have anything whenever we want and put added financial pressure on us; “Sale: limited time only.” “Prices will go up on this merchandise next week – act now!”

• Avoid worrying about now having enough. Sometimes, issues surrounding money can be related to general unhappiness about not having what we want; the latest tablet device or power vacuum cleaner that might be outside of your budget right now. One way to combat these feelings of lack is to clean everything in your house, take a long look at your surroundings and be thankful for what you currently have, even if you crave more stuff.

• Create a budget to keep track of your spending. Use a format that works best for you; an Excel spreadsheet is always a good choice. However, if you prefer not to use the computer, track your expenses in a journal. At the end of every day, write down what you spent and compare it to a list that you created that details your monthly and weekly expenses.

• Embrace the power of saving. Even if you just set aside a few dollars per paycheck, setting aside a regular savings can prepare you for unexpected emergencies.

• Work to eliminate debt at all costs; this will invite more peace into your life.

• Take inventory of all of your possessions and the breadth of what you have to avoid falling into the trap of wanting more.

• Peace and serenity is not something you can purchase. Remind yourself of this as you work to gain financial control over your life. The peace and personal freedom that comes with having financial stability is an uncomparable feeling of relief and one that money can’t buy!

For more information on this topic, visit this link.