As a new year begins, many of us sit down and make a list of resolutions. Resolutions are sort of like goals you have for this year. Writing them down solidifies them, and helps you focus on achieving them. Another way to help you focus on achieving your goals is by visualizing them, via a vision board.
We just moved to Orlando and in the process, we discovered a vision board I made two years ago. I marveled at the fact that we had managed to achieve almost every single thing on that board, right down to the look of some of the individual items that had been cut out of magazines. Setting your intentions via written or visual means, can make your brain unconsciously work toward manifesting them.
Even when you think you’ve messed up everything beyond repair, there is still the possibility of fixing things or making them right. Believing you can achieve what you set your mind to, is key to you actually making it happen.
This year, I have several financial resolutions:
- I will finally finish my student loan rehabilitation program in April and get back on track with my student loan payments.
- #MyMister and I also resolved to begin paying off our debt, so we can build our credit back up. (Becoming entrepreneurs really put a ding in our credit. When you are self-employed, it is harder to establish credit lines & consistent payments because you don’t have a regular W-2 and are subject to slow seasons).
- I will invest more of my time and money into growing our business. This will lead to an increase in both business and personal income. Having an increase in personal income will allow us to pay off the debt, in addition to covering the regular expenses of life.
- We resolved to begin saving money as well. It is tempting to just put whatever spare money you have towards paying down your debt, especially with the difference in interest rates, but establishing a pattern of saving will assist you in continuing those patterns beyond when your debt is paid off. Savings also provides an emergency fund that belongs to you. So many people use their credit cards as emergency funds, and that leads to even more debt and interest. I closed all of my credit cards so I could focus on repayment, and not be tempted to fall back on using them as my safety blanket.
As I mentioned in the last section, saving money can assist you in establishing healthy financial management patterns and serve as an emergency fund. Additionally, some savings can also be set aside to achieve a goal. Perhaps you would like to buy a car or house, and putting money into savings can help you with the down payment. You set your intention, and you work toward that goal, even while that item is not in your possession. This can also be applied to saving for your child’s college education. Your child may be too young for college now, but you set your intention to ensure that they will be able to attend college or a university when they are ready. And unlike a house or car, which may increase in price while you are saving up for it, investing in a Florida Prepaid College Savings Plan now locks in the rates of today.
With plans you can start with as little as $25, and that can be split up into individual years, you can set your intention now and begin saving for your child’s future even if you have have a low income or debt. The key here is to Start! By making the commitment, your brain will work to help you manifest the means you need to achieve this goal.
Want to learn more about what Florida Prepaid offers? Visit www.myfloridaprepaid.com today! If you decide to enroll, use code BLOG1516 with your purchase and you will receive a free gift! The open enrollment period ends February 29th, so be sure to check it out soon!
Disclosure: I was compensated for this post by Bloggin’ Mamas and its advertisers. All opinions expressed are my own.