When You're Feeling Discouraged About Your Finances.. (+ Freebie Day π)
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Hey,
How is your week going?
Have you ever felt discouraged about your finances? I've definitely been there.
We all get discouraged from time to time but it's important to keep pressing forward. Here are a few practical things you can do to get encouraged and motivated about your finances again.
- Set a small achievable goal. What is something you can do very soon (like this week) that can make a difference for your financial situation? Can you plan out a debt repayment plan? Transfer $50 to savings?
- Cut yourself some slack. Look at how far you've come, and be proud of that! Take a moment to pause and truly acknowledge all your progress.
- Surround yourself with supporters. My family has always been my biggest support system. Just the other day, I was talking to my mom who was telling me that my youngest sister is planning to graduate college next year completely debt free and wants to buy a house soon. I'm SO so proud of her. She told my mom that she was really inspired by my debt payoff journey and how I talk about overcoming a poverty mindset. It means so much to me that others can learn from my journey. It just goes to show that some of your friends and family and hearing your ambitious financial goals and get fired up by them. They will cheer you on and support you while making you proud of their progress as well.
- Do the best you can do. It's so important to do the best you can do. Not the best someone else can do. Or, the best you could have done 10 years ago. It's the best you can do right now, in the season of life you're in.
- Know that you're not alone. You're not alone even if seems that way. If you're on social media, I encourage you to join my Facebook group where like-minded people can connect and chat in a judgment-free zone.
June Freebie π
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This month's freebie is a 50/30/20 method budgeting worksheet. If you use a percentage-based budget or want to try using one this is a great tool to get started with. You can learn more about the 50/30/20 budgeting method and how to create one in my article here.
βClick here or the link below to download the worksheet. π
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Recently on the Blog
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Money Saving Tip
Have you enrolled in the Build a FULL Emergency Fund.. Fast Masterclass yet? If you've been wanting to build or rebuild your emergency fund, this class is a must! It's short, practical, and to the point so you can finally build the financial cushion you need as soon as possible.
Money Making Tip
Speaking of savings, where are you keeping your money? Consider parking your funds in a high-yield savings account like the Capital One Performance Savings Account, which pays a 4.15% APY. I have a few thousand saved in my account currently and am making $35+ per month in interest payments.
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- ChoncΓ©
Founder of My Debt Epiphany
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P.S. As always, if there's anything I could do to help support your financial journey feel free to let me know. I'm always open to blog post topic suggestions, video suggestions, and even mini-workshops in the My Debt Epiphany community Facebook group.
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