If you fail to plan, you plan to fail. Right?
But what happens if your plans simply fall through?
You did your part to outline your budget, give yourself an emergency fund cushion for life’s what-ifs, control your spending, and follow the financial rules. But still, maybe you feel like you’re falling short by a little ( or lot!) on your money journey.
Sometimes our objectives go awry due to our own missteps or even unrealistic expectations. However, circumstances can also be the culprit. Life is unpredictable.
A broken water heater? New tires? Tooth pain and an urgent dental procedure? A leaky toilet? All at one time – yikes! You never anticipated dipping into your emergency savings by THAT much.
You’ve been on the grind and you thought the extra cash from your new side hustle would give you some wiggle room. You expected that the balance in your account would be twice as much by now. Or you had hoped to have paid off that debt by now since you’ve been tackling it conscientiously for the last few months.
Sometimes the best-laid plans fail, but that doesn’t mean we should throw in the towel and call it quits. Instead, we should just recalibrate and reposition ourselves to take on our financial goals with even more grit, even if it may be from a new angle with a reinvigorated mindset.
Here are three ideas to help you push through when you’re feeling down and out about your financial plans:
- (1) Pause. Reclaim the time to think. Assess and reflect upon your financial position. This may take a few hours, a few days, weeks or maybe even a few months. Understand The Psychology of Money. Schedule a personal appointment with yourself to examine what’s really going on. Hitting the reset button is really an act of courage and can oftentimes help to get you back on track.
- (2) Persevere. Once you’ve taken some time to be still for a bit, you must push through with grit and determination if you believe you’re on the right course. Even if you take small steps forward, that’s progress to celebrate. As long as you advance, you’re on the right track. Use affirmations and visualize where you’re headed. Debt-free. Down payment for your first home or rental property. You’re on your way and the race isn’t finished yet. Keep going!
- (3) Or Pivot. After you take a moment to evaluate your financial situation, you may need to take a detour to get to your desired destination by updating your action plan. There are many different pathways to build wealth, manage debt, and work towards your financial goals with tons of available resources and information so you can Get Good with Money. So, do you need to make some minor or major changes to your current plan? Maybe tweak your budget? Shop around for different deals to put more cash in your pocket? Work towards a new skill or pick up a side gig that works within your schedule? Find an accountability partner or work with a certified financial planner?
Wherever you are in your journey, it’s time to tune out doubt and frustrations. When your plans fail, it’s not time to give up. Instead, get back up again and lean in with determination to achieve your financial goals. You got this!