10 Things to Give Up in Order to Simplify Your Finances

What Are you Willing to Give UP

Ever considered giving up something to help improve your finances?

With the Lenten season upon us now, it’s the time of the year many decide to give up something as a sacrifice or work to improve yourself during these 40 days of lent.

Why not apply the same philosophy to your personal finances?

We can all benefit from giving up certain aspects of our financial life that is preventing us from achieving the goals and objectives we have set for ourselves. Many of these things are not positive which end up dragging us down. Think about the things that are preventing you from achieving the financial peace you are looking for.

We should remove those things that prevent us from moving forward with our financial lives. You can do it if you put your mind to it.

To help you, here are 10 things you should give up if you want to improve your finances:

Give Up Keeping up with Jones

Trying to keep up with the Jones happens to many people even the rich and famous do it. It’s more likely you will end up with less money than more money if you try to keep up with everyone else. Many people believe buying things and spending money like everyone else does is a good thing. If you are spending beyond your income, you will eventually end up in a very difficult financial situation.

So if you want to simplify your financial life, you must give up trying to keep up with the Jones. It will be a good thing for your bank account and stress level.

Give Up your Financial Fears

Many of us have a financial fear regarding some aspect of our financial lives. It could be as simple as a fear of change. If you want to move forward or improve your finances, you will have to give up some of these fears if you want to simplify your finances.  This post Is Fear Preventing you from Simplifying Your Finances may help you get over some of your financial fears.

Give Up Manually Managing your Finances

We all have specific financial tasks we must do to manage our finances. However, doing some of these tasks takes time to manage. For example, each month you may transfer your excess money at the end of each month or you write checks for all of your bills. These takes time out of your day and you probably do not enjoy doing them.  Well instead give up the manual tasks to manage your finances and instead automate these tasks each month. Automating will

  • Save you time
  • You will not forget to do it
  • Simplify your financial life

Give Up Receiving Paper Statements

Are you still receiving your monthly bills and statements in the mail? Consider giving up those monthly paper bills and statements instead go paper less. This will reduce the amount of mail you receive as well as reduces the chances that your bills are missed placed. It will also help the environment.

Give Up Blaming Other for Your Financial Situation

We are all in different financial situations. Sometimes things don’t go the way we want them to go.  Many times we don’t take responsibility for the financial mistakes we may have made and often we blame others for the financial situation we are in.  Give up blaming others for your financial situation and instead focus on making you your financial situation better by finding ways to improve the situation you are in and take ownership of the things you have done.

Give Up Not Taking Action

Many times we say we want to or we should do something.  But we take no action to do what we say we want to do.  You will not achieve financial success by not taking action.  Give up not taking action and move forward with your first action step to achieve the financial goals you want to achieve.

Give Up Waiting for the Perfect Time to Start

No one is perfect and every time you do something it does not have to be perfect.  You don’t have to set the perfect budget, you don’t have to have the perfect saving plan in place, or find the perfect credit card. If you are waiting for the perfect time to invest it may never arrive or waiting for the perfect time to begin saving.  Give up having to have the perfect situation instead take action and get started.  You can always make changes once you start.

Give Up Telling Yourself You Cannot Achieve the Goals You Set

Many feel they are not able to achieve their financial goals and dreams they would like to achieve such as retirement. The belief that you can not achieve what you want is a big hurdle to overcome. If you don’t believe it can be done you will probably  not put the effort in to achieve it. By giving up the belief that you can not achieve what you want is the first step to reach your ultimate goal.  Once you believe you will begin to see the many possibilities you can achieve.

Give Up Bad Financial Influences

We are often influenced by those we surround ourselves with from family, friends, and co-workers.  We often develop the habits and values that we are most often in contact with. These individuals maybe bad influencers. They may be preventing us from achieving what we want to achieve or may have developed bad financial habits by surrounding ourselves with.  Give up your bad financial influences.  Find people who have similar values to you and will a good financial influencer.

Give Up the Past

Don’t let your past bad experiences influence how you handle things in the future.  For example, because you were not able to manage a budget previously does not mean you should not use one in the future.  Just because you were not able to save last year should not prevent you from saving going forward.  Best way to handle this is to find a better way to budget or save that fits your lifestyle.  Remember past performance is not an indication of future results.  So give up those past experiences and find a new way to handle your finances.

Now which of these 10 things do you need to give up so you can begin to simply your finances?

Are there any others that you have given up that have helped you begin to simplify your finances?  I would love to here other things each of you have given up to achieve financial simplicity.

Remember take one step at a time to simplify your finances.

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