How I Maintain My Financial Willpower

Maintaining financial willpower isn't easy. Even for people like me, who actually enjoy saving money and finding ways to save, it's sometimes difficult to continue pushing ourselves to do so. At times, I would love to just sit back like so many of those around me and blow through my cash by doing things like going to sporting events and concerts, heading out to bars, and generally partying like a rock star. But I refrain from doing so because I have ways of maintaining my financial willpower.

Jumping off a Bridge

Remember when you were a little kid and you're friends went to the mall or movie theater unsupervised, but your parents wouldn't let you go because they thought it was a bad idea? Didn't you hate when your mother said, "Just because your friends jump off a bridge doesn't mean you should."

But she was right, wasn't she? And she still is. Those words stuck with me since I was a little kid, and they've saved me a ton of money in the process. From not buying new cars to avoiding the latest trends when it comes to technology and clothing, not having to follow and fit in with the herd is a great way to maintain financial willpower. Sure, I'll listen to what others say, maybe even take a few notes, but in the back of mind, I keep telling myself, just because it works for them, doesn't mean it will work for me.

Continuous Growth Process

Even though I might not follow in the direct path of others, part of my ability to maintain willpower when it comes to my finances comes from continuously looking for ways to grow and learn. There is much that can be gleaned from watching others and learning from their successes, and more often than not, their mistakes.

In many of my articles, I go out of my way to point out my own mistakes and downfalls. This isn't so much because I enjoy the ridicule I suffer doing it, but because I think that many of us actually learn better through examples of mistakes than through examples of successes. Mistakes often leave a much longer lasting impact upon us, and as sad as it is to say, many people prefer reading about someone's misfortune rather than their success.

Foreseeing the Future

While no one can predict the future, by maintaining financial willpower, there may be ways to at least catch a glimpse of what your future might look like. One of the ways in which I do this is by creating and achieving goals.

Goals act as sort of an outline, a guide if you will, to help me, if not determine, at least mold and modify the direction my future is heading. I utilize and build upon short-term goals to better achieve my mid and long-term goals. I use planning tools like a budget and tracking spreadsheets for general expenses, and further breakdowns for things like utilities, housing, and income. Such tools help me gauge my financial progress, follow existing goals and form new ones.

Advice with a Grain of Salt

I used to work with a guy who said, "I spend my money today because, what if I die tomorrow?" I never argued with him because it was his choice and I have no problem with that. I try not to preach to people. I just put the information out there and if someone chooses to pay attention to it and it happens to help them, then great. However; I always wanted to retort to this co-worker, "Yeah well, what if you don't die tomorrow? What if you live to be 90? What is your quality of life going to be like during those last 20 or 30 years? And what are you going to leave your family?"

In my opinion, saving money isn't just about me. It's about my family. I like to save because it builds security not only for me, but for those around me. Knowing that I'm building a more secure future for my wife and son increases my willpower when it comes to saving.

More from this contributor:

Time Management Tips that Save Me Money

How Being Prepared Saves Me Money

Money Saving Habits: The Good, the Bad and the Ugly

Disclaimer:

The author is not a licensed financial professional. The information provided in this article is for informational purposes only and does not constitute legal or financial advice. For financial advice, readers should consult a licensed financial advisor. Any action taken by the reader due to the information provided in this article is at the reader's discretion.