Stay on Track
I wish I could promise you smooth sailing from here on out, but few of us have lives that don't throw us an occasional curveball.
Here's my best advice for how to stay on track despite whatever comes:
Get support. Living a frugal or even goal-centered life isn't exactly a mainstream choice in America, where every time you turn around advertisers are shouting at you to spend more. That's why it can be helpful to find others who share your goals. You may be able to find a “simple living” support or study group in your area; start your search at www.simpleliving.net. If you have a severe or uncontrollable spending problem, investigate Debtors Anonymous, which is a 12-step group based on the principles of Alcoholics Anonymous that can provide invaluable information and support.
Use wish lists. If there's something you really want, write it down and stick it in a prominent place, like your refrigerator. Wait three weeks and see if the purchase is still a priority. Many times your desire for the item will have faded. (Some people put their wish lists next to a picture of their ultimate goal: a new home, perhaps, or a happy retired couple playing golf. That can help make the decision to forgo the impulse item a lot easier.)
Boot bad influences. Almost inevitably, somebody in your life—perhaps many somebodies—won't understand what you're doing and may even feel threatened by it. The worst of these somebodies may actively try to undermine your attempts to reach your financial goals. For example, one of my readers described a friend who constantly invited her to expensive restaurants and concerts and determinedly rebuffed the reader's suggestions that they find more affordable entertainment. Another had a mother-in-law who kept pushing him to enroll his children in a private school the family couldn't afford, even though the public schools in their neighborhood were quite good. You may need to limit your interaction with these folks—at least until you can smile and ignore their needling.
Beware of quick fixes. People who take shortcuts often find themselves not getting to their destination at all, and that's particularly true with money. Get-rich-quick schemes, high-risk investments, gambling, and even chain letters may tempt you off the slow and steady path to building wealth. Just remember that every dollar you waste on any of these bogus “solutions” is a dollar that won't get you closer to your goals.
Watch for signs of “frugality burnout. ” Feeling deprived can tempt you to throw in the towel on your financial plan, so make sure you build occasional treats into your budget—dinner out, a movie, a little mad money to waste any way you want. Go ahead and buy that latte or ice cream cone or get a manicure now and then. If you can't afford to go away on vacation this year, take time off anyway and be a tourist in your own area. Don't put off all your rewards for the future; enjoy a few today as well.
Get back on the horse. No matter how carefully you plan and how committed you are to your goals, stuff can happen. You can lose a job, suffer an illness, get in an accident, or be thrown off track in any number of ways. You may despair of ever reaching your goals. In fact, you might need to figure out a new plan or even rethink your goals. Just remember, winners are the ones who don't give up.