Turn your financial goals into bite-sized chunks

When it comes to fostering healthy money habits, our attitude and mindset play a critical role in determining whether we achieve our goals.

There are certain attitudes you need to adjust before you can embark on your journey towards financial wellness.

Some of these changes will come naturally, others you will learn to make along the way.

Take the following steps to help you change your mindset and follow through on the commitment you have made to putting your finances in order:

The time is now

You may feel the need to wait for certain matters to be resolved before you are ready to implement the financial plan you have put together to help you achieve your goals. Perhaps you are just waiting for the right time to go ahead. The truth is there is no such thing as the perfect time.

Start today with what you have. The saying "The best time to plant a tree was 20 years ago. The second-best time is now" is apt.

You might think that what you're doing is meaningless, but you will look back 20 years from now and be thankful that you made a start.

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One bite at a time

Coming to terms with the state of your finances can be overwhelming. To get over this you need to tackle one task at a time. Whether it's sending an e-mail to your financial adviser, setting up scheduled payments through your bank or budgeting - or all those tasks - tackling them in bite-sized chunks can help you cope.

Dedicate five to 10 minutes a day, or every second day, to going through each task. Making a list will also help keep you on track.

Get rid of the distractions

Often we postpone important tasks - like putting a budget together - because we find other seemingly more important things to do. For example, whenever you want to put your budget together, you log on to Twitter or start doing other chores and get sidetracked.

Put yourself in a position where you have to take care of financial housekeeping, even if it means locking yourself in your room, away from your computer and phone, and budgeting with a notebook and old-fashioned calculator.

Think about tomorrow, now

The tricky thing about developing healthy money habits is that we often prioritise tasks or events that we consider more urgent, and tend to leave for another day those matters we feel we have enough time to attend to.

It's the same with money. We tend to put off saving, filing our tax returns or contacting creditors because we are not confronted with a pressing deadline.

If you want to get things done now, then move the deadline forward. Or, if you really lack the discipline, schedule important payments as you think about them so that this becomes a natural part of your life.

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Find a partner

Well done, if you can stick to your goals on your own. Many people find a trusted partner can help them to stay the course.

Reward yourself

Make a point of congratulating yourself on a job well done whenever you meet a goal.

How you celebrate that milestone is up to you, although it's probably a good idea to keep it in line with your goal. It is not a good idea to celebrate paying off your credit card by buying a R3500 pair of shoes with that same credit card. That would be like scoring an own goal.

Remember, keeping up with - and meeting - your commitments takes time, dedication and energy. Don't be too hard on yourself if you don't get it right the first time.

tsamelad@sundaytimes.co.za