What Losing Weight Can Teach Us About Managing Money

During the summer, my husband and I got serious about losing weight and paying off our debt.  We have specific plans for each area and we are working together to make each other accountable in both departments.  So far, we are making progress.  As I think about these areas, I see lots of parallels.  There are plenty of things that one area can teach us about the other.  Enjoy these few lessons that I have learned about money management...all from losing a little weight!

1.  Writing the numbers down makes it real...

It is impossible to pay attention to your financial situation if you don't know what it is.  If you don't see your bank statements and never eyeball your checkbook unless you get an overdraft notice, you can claim ignorance where your money is concerned.  Once you see the numbers in black and white (or red), you cannot deny what they say.

2.  Small victories are still victories...

Our money habits did not just appear overnight.  Likewise, our money problems are not going to disappear all at once either!  Making 1 good money choice is a small victory and it will lead to other small money victories.  Taking small steps builds momentum and provides motivation for the next good choice (i.e. victory).

3.  You don't have to like it to be able to do it!

Sometimes, the only way to accomplish the end goal is to do it anyway.  It may require ALL your discipline, self-control and willpower to not charge anything else on your credit card or skip your expensive coffee or not buy a new outfit until next month.  When you make those choices, you may not ever get to where you enjoy the delayed gratification.  You will, however, come to find satisfaction in making the "better" choice and moving one step closer to your financial goal.

4.  Some days, you won't stick to the plan...

And that is perfectly OK.  In order to maintain focus for the long term, you have to be able to blow off some steam every once in a while.

5.  The next day, you have to get back on the plan...

The hardest part of taking a break from the plan may be making yourself start back the next day.  Don't feel guilty about breaking the plan...don't throw all your progress away because of one day.  Just refocus your attention and start back where you left off.

6.  Less is more...

Once you have done without some things, you will realize that you don't need them...or that you don't need them all the time.  Maybe, you will find a way to have the same things in a different, less expensive way.  Maybe you will discover some new things.  No matter what, you will prove to yourself that you can do with less and knowing that will be worth more than having it all. 

7.  There is not just one thing that has to be changed...

Losing weight does not just mean eating less.  In order to do it successfully, exercise must be part of the plan.  As for money, spending less is not the only answer to fixing your financial picture.  In addition to spending less, you must have a budget and some goals to put your extra money toward.  Either piece of the plan is good on its own but it won't be as effective on its own as it can be as part of a comprehensive plan.