Rochelle Allen Empowering Financial Wellness Program Coordinator As we find ourselves at the beginning of a new year, many people like to reevaluate their financial goals. It’s the perfect time to reflect and consider our goals and aspirations. One effective way to stay focused on improving our financial well-being is by choosing a “money word” for the year. By choosing a word for the year, we establish a guiding theme. This theme will help remind us of our intentions and help us make smart decisions. In this post, We’ll explore the concept of choosing a money word and help you develop your own.
To begin, take some time to reflect on your financial journey. Consider both the success and challenges you’ve faced. Think about your long-term goals. This reflection will provide valuable insight into the areas of your finances that need attention and improvement. Next, identify your values and priorities. What does financial success mean to you? Is it security, freedom, generosity, or something else entirely? Understanding your money attitudes (habitudes) will help you align your money word with your personal beliefs. This alignment will make your money word more meaningful and motivating. Now, it’s time to select your money word. Choose a single word that encompasses your financial aspirations for the year ahead. It could be a word like “abundance,” “discipline,” “growth”, or “invest”. The key is to choose a word that resonates with you and inspires positive behaviors. Once you’ve chosen your word, set goals related to your word. For example, if your word is “savings”, your intention could be to save a certain percentage of your income each month. If your word is “growth”, your intention could be to take a course to improve your financial literacy. When you’ve created goals, break them down into actionable steps you can pursue throughout the year. Even if the step is as simple as reviewing your budget daily, weekly, or monthly, turning your goals into steps will help you establish intentions and achieve tangible results. Accountability and motivation are crucial. Consider sharing your money word with a trusted friend, family member, or an online finance community. Regularly check in and share your progress. Celebrate your accomplishments no matter how small! These small victories can fuel your motivation to keep moving forward. Choosing a money word is a very powerful way to stay focused on your financial ambitions. Your money word can create a positive relationship and help you identify values that you may have overlooked previously. Remember, small consistent actions will ultimately lead to long-term financial empowerment.
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