Figure Out Your Why

If you want to be successful in reaching your financial goals you have to get clear on your “why.”

When we’re first diving into personal finance and creating a budget, we often don’t take time to figure out why we want to create a plan for our money. We know it’s something we should do, and can think of lots of reasons to do it but if your why is not personal and doesn’t speak to you in a deep way, it’s not going to get you through your journey.

Your “why” is essential because it will give you the motivation you need to stick to the plan when times get tough.

Your “why” should be more than just “get out of debt” or “save money.”

Maybe you want that financial independence so you can take a pay cut and start that dream career you’ve always wanted to pursue. Or perhaps it’s to have the freedom to work part-time and spend more time with your kids.

It’s about what makes you happy, what you value, and what you enjoy.

how to determine your “why”

To start with, identify what is important to you, this will give you a foundation as to where your money should go.

Why do you want to become debt-free?
Why do you want to save?
Why should you pay off debt?
Why are you setting this goal?
Why is it important to you?
Why will it help create the life you want for yourself and your family?

By answering these questions, you’ll get closer to the “why” that will drive your financial decisions.

my why

Your financial “why” can change throughout the years. When I first started my debt free journey, my “why” was having the freedom to leave a job I didn’t like. The first few years after college, I worked in an office where I was super stressed and felt disrespected. I didn’t want to work there but felt like I couldn’t leave because of all the debt payments I had.

The thought of having the option of quitting my job became my why during those years. I never again wanted to feel like I was a slave to my debt.

It’s been seven years since I first came up with my first financial “why” and now that I’m in a different place in my life that “why” has also changed. My current “why” and the reason I keep trying to hit those financial goals is to provide a better life for my family, to be able to pursue my side hustle and to spend time with my daughter.

create your “why” vision board

Once you have established your “why“, that reason that gets you motivated to get after it and accomplish your goals, you’re going to create a vision board. Something you can look back to every once in a while during this financial journey.

Whenever you’re going through a hard time, feeling unmotivated, and like you want to give up, come back to this visual reminder and let this give you a boost of motivation to keep moving forward.

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