PROGRESS TOWARDS GOALS – Did you make any progress towards your big goals? Were you able to check any off your list?
The biggest goal in 2018 has been to come out of my financial misery and honestly I feel like I have dragged a heavy weight on top of the mountain and now finally I have started to relive that weight bit by bit.
But I have understood couple of things from this year –
- Unexpected expenses can creep up any time so when your life is smooth then do not just waste that hard earned money on unnecessary purchases on credit card. You might be tempted to go for shopping with colleagues, party with friends to a place where you know you would end up swiping your card for minimum of Rs 2000. These purchases looks small when they are happening but can easily add up in your debt.
- Speak with your partner and friends about your financial situation and don’t feel the burden of making some purchase/ expenditure. I really felt that this helped me as when I could openly speak about how much can I contribute and when can I do that. Honestly when you speak out then you let the other person know about your situation and most of the time we feel this internal pressure to keep contributing to something related to our relationships.
- Planning can take you out of debt. I planned my entire year of debt repayment and tracked my expenses through out the year. Because of which I understood where I spend most of my money and surprisingly its on gifts, social gatherings, cabs, order out . That’s it. Made me feel good at one point that I am not much of a spendthrift on myself but I like to make people smile. I realized where I have to cut to make a difference in my life and in people’s lives.
- Don’t discuss your financial situation with people. You might be tempted to add to a conversation when everyone is cribbing about their bad debt etc but resist. When you discuss something like this then you actually give people power to comment over every purchase you might make in future. Just make a plan( there are many helpful videos on Youtube) and go from there.
- No matter how bad the situation is today it will be better tomorrow. So, do not loose heart. Make a debt repayment plan, track current expenses, create a savings profile for yourself and be positive.