How to Stay Motivated to Reach Your Financial Goals

Since I work from home I am always asked by other hopefuls how to get started. When I explain that I put 80 hours a week working two days jobs and building an online business on the side and also had around 100 rejection letters before getting my first freelance job, I feel like that part is just glazed over. People expect me to give them some magic secret to work from home success.

The truth is when I got started my back was against a wall. I was a new single mother to two small kids and had to work two low paying day jobs to pay the bills. I worked as hard as I could to get ahead and saved as much money as my budget allowed. Unless I wanted to work two day jobs for the rest of my life or look to my Dad for financial support, I didn’t have another choice. I worked hard. Really hard for a long time. There was no instant success and I had to step far out of my comfort zone.

But what if my back hadn’t been against a wall. Would I be here right now typing this? I don’t think I would.

I think this is proof that there needs to be a big motivator in order to reach your financial goals. So if your back isn’t against the wall how do you stay motivated?

The Your Money or Your Life Method

One of my favorite personal finance books is your money or your life. In a gist, this book challenges you to look at every dollar you spend as part of your life you’re spending.

For instance, if you’re earning $20 an hour is giving up three hours of your life for a $60 dollar sweater worth it? When you start looking at your purchases as trading in your time rather than your money do those purchases make any sense?

Using this method can be a complete eye opener. Be sure to ask yourself what you’re going to gain each time you make a sacrifice!

Amplifying Your Financial Goals

Another method to stay motivated to work toward your goals is the using the 10X method, made popular by Grant Cardone.

With the 10x method you take whatever goal you’re working on and multiply it by ten. If you want to earn $100,000 per year you need to set the goal at one million per year. You then make the plan to earn one million dollars rather than the $100,00.

In all likelihood you’re going to miss that million dollar mark but you’ll likely land about the $100,000 mark too. This method goes off the old saying “if you shoot for the moon you’ll land upon the stars.”

Conclusion

Sometimes it can be hard to stay motivated to reach your financial goals. Especially if you’re not acting out of desperation.

Start experimenting with different methods until you find the one that suits you best!