February can be a challenging month. After the long, dreary month of January has passed and with kids entering mid-term break, the temptation can be to back off your financial goals. After all, it’s the month where advertisers kick into full marketing overdrive to separate you from your cash with their savvy Valentines-themed marketing drives because they know how tempting it can be to have a little fun. Who could blame you. January was such a long month after all, those grey days of post-Christmas austerity, who needs that?
Yes, February can be a month of temptations but don’t give in, you’ll be doubly happy when you reach your financial goals later.
Maintaining a constant focus on your finances is key to ensuring your financial plans remain on track regardless of whether you just want to pay off the post-Christmas spending bills, save up for a special event, a deposit for a new home, send a child to college or reach a financial goal that you have been planning for years.
Your job is to re-double your efforts, to renew your vows, your financial vows that is and to stay the course.
So, how do you do that?
Well, it’s a lot like any long journey. The secret is to have a plan and within that plan, to factor in those endless temptations that can surface along the way. So, here are some tips to help you survive the month of financial temptations and to keep your money plans on track:
1. Re-confirm your vows – your financial vows that is. Regardless of your financial goals, it is important to remind yourself of what those goals are and why you set them in the first place. Even if your goal is to pay off expensive credit card debt, remind yourself that you are doing it to reduce the cost of interest and save yourself a bundle on money in the process.
2. Have a little romance – the trick to sticking to your financial goals is not avoiding having any fun at all but by having a little fun that you have budgeted for and then firmly sticking to that budget!
3. Have a survival plan for rough going – remember, even the best financial plans can get a little rocky from time-to-time. The trick here is to not get so overwhelmed that you give up completely. Having a plan that can accommodate short-term financial challenges but also allow you to return to the plan is one that you are likely to stick with over the long-term.
And with the week that is in it, have a pleasant Valentine’s Day and remember, love your money!
Here at St. Joseph’s, we work with families on their financial well-being. Our family-friendly Budgeting Money Management service supports families plan their annual family budgets and to keep their finances on track.
Separately, our savings options are great for rainy-day funds.
Finally, our debt consolidation loans are an excellent way of reducing expensive credit card debt and saving a bundle in the process. If you have any questions about any of our fantastic services, feel free to contact a member of the team today.
If you are thinking about cutting the cost of credit cards with a debt consolidation loan, you can calculate your repayments HERE.