Whenever you start on a journey to get out of debt, one of the hardest aspects is staying motivated to stick to your plan.
If your plan works on paper, but not in practice, it's not serving you very well and it's time to look at making a change.
But instead of throwing up your hands and saying "this doesn't work", try this instead - define your family's financial goals and create a vision to go with it.
Think of this as your WHY statement. And I'm not talking about "I want to be debt free or I want to be a millionaire". I'm thinking more along the lines of....imagine you were already there...you were a millionaire heck even a cagillionaire (with obviously no debt because come on...you're a cagillionaire! LOL), what do you see? What do you envision?
So let's break this down.
Imagine you envision yearly vacations with your family. Paid in cash. I'm talking the bougie kind --- amazing 3 course meals, beachy warm weather, wine and strawberries in your room every night kind of vacation. Now, what is ii that you are really after here? My guess is you want TIME...precious time with your family. My guess is you also love a little adventure and want to see the world for the EXPERIENCE. I would also guess that you are likely a bit of a foodie and can't wait to experience the culinary delights another country has to offer.
Can you see it? The gorgeous sunsets and the crystal clear blue water? Can you hear the laughter of your kids enjoying yet another sundae at the all you can eat ice cream parlor after an amazing day creating memories at the beach? Can you taste the macadamia nut crusted salmon with the mango peach salsa, washed down with a margarita?
See the difference here? If you don't, let me paint you another picture. A pair of gorgeous designer shoes go on sale, and they NEVER go on sale. Here is how having a vision and a clearly defined goal plays out:
Scenario 1 - a plan without the WHY and the vision to go along with it, can feel like its taking forever to get out of debt. Shoes are on sale - "I mean...these shoes are cute and they never go on sale, I'm going to them because I deserve to treat myself."
Scenario 2 - same plan as above but this time with a WHY and a VISION (remember the yearly bougie beach vacations while your kids still want to hang out with you, making memories connecting and eating Michelin Star dinners every night). Shoes are on sale - "wait, what shoes? Who cares about the damn shoes! Next year I'll be on that beach!"
Do you see it now?
Create the family goal, then create the vision --- see it, taste it, smell it, live it in your mind...and you will stick to your plan.
Yours in financial health,