Welcome to Top Ten Tuesday. Only 1 day left in January! By now, it seems that most of our New Year’s resolutions have lost some steam, been pushed to
the side, or just been dropped all together.
It is never too late to reevaluate our goals and start over. We don’t need to wait until the next January 1st to get our finances under control. When we fall off the wagon, it is best to get up and keep going. I like to imagine the young Anne of Avonlea saying, “Isn’t it nice that tomorrow is a new day with no mistakes in it?”
If we understand what derails us from achieving our goals, then we can counter those failure factors and find success. These are the top ten failure factors that impact the achievement of a goal. Read them slowly and think about what they mean in your recent resolutions.
Top Ten Failure Factors:
• Setting unrealistic goals
• Motivated by the wrong motives
• Believed failure was inevitable
• Fulfilled the need for immediate gratification too often
• Influenced unduly by other people
• Practiced a “deprivation mentality” – all or nothing/black or white
• Rationalized and made excuses rather than taking responsibility
• Displaced emotional issues through overspending and overeating
• Procrastinated rather than taking action
• Lacked the tools to make compounding incremental change
Reread the list above and circle any of the “failure factors” which you believe may be significant influences in your life. Failure can be seen as a profound learning opportunity. It’s time to stop trying so hard and start training toward a new way of addressing your wealth challenges. Past failures do not need to be repeated. Before my husband and I met, he was in a debt cycle he felt would never change & financial
freedom was just a dream. But it did change because we set goals and took action. The result? We’ve been debt free for 20+ years.
After you circle the “failure factors” that may apply to your situation, take the time to write three ways you believe you can counter those factors and turn them into successful areas of your life. I believe in the old saying from John L. Beckley “people don’t plan to fail, they just fail to plan.” Having a plan can be over half the battle in discovering ways to be successful in your finances. But implementing that plan is the other half of finding success.
One of the ways that I have found most people can create and stick to a plan is by having a “money buddy.” If you are married, this might be your partner, and if you are single, it can be a like-minded friend who is good with their own financial resources. Get together with your money buddy and go over this “failure factor” list. Let them help you come up with ways that you can counter the failure to turn it into success. Then, set a date to meet with your financial partner and track your success. It’s kind of like Weight Watchers for money matters and there is great power in unity with other like-minded people who want to overcome their own failure factors.
For great budgeting tools, go to mint.com—an excellent app for managing finances. Keep checking in week to week for help along the way. You are not alone in this financial journey! You can find success if you: Dream Big. Set Goals. Take Action