Financial Training – Part 2

Are you ready to train like an athlete?

Yesterday, I introduced the idea of setting a financial goal like an athlete aspiring to make the Olympic team. Athletes count calories, track their workouts, and stick to a plan. Wise stewards count the cost of debt, unmanaged spending, and financial stress. They build margin. They prepare for emergencies. They practice generosity. It isn’t always easy, but it fulfills goals and gives meaning and purpose to life.

A general principle to guide you is this: “What is rewarded is repeated.” It’s a management philosophy to help you stay motivated. Set up small celebrations for achieving some of your short-term goals. For instance, when you accumulate your first $1,000 in an Emergency Savings Account, celebrate in some modest way, then make larger plans for bigger achievements, so that you have something to look forward to with the sacrifices you’re making. Build these into your program.

Now, if you prefer negative motivators, build in a penalty for failure to meet your goal. For instance, if you fall short of your financial destination, take away something you planned for the month. Or, do something painful, like eating a can of sardines for dinner, unless you really like them, but you get the idea!

Get a budget and reduce your overhead. Recruit team members to encourage you, like friends, family, or coworkers. Ask the Lord to help you. He’ll guide you and keep you every step of the journey. When progress is slow, don’t give up. Keep your eyes on Him, and never look back.

And if you’re struggling with credit card debt, Christian Credit Counselors can really help. They’ll create a debt management plan that will work for you. For more information, visit online at crown.org/ccc.