Personal Finance – How to Control Your Spending and Stick With Your Financial Plan

Even with a simple personal cash flow plan like the four bucket financial system, there are times when you might find it difficult to stick with your commitment. Many people find themselves working towards financial freedom and doing very well, only to slip one day and lose control of their spending, and then it’s all downhill from there. In this article, we’ll be looking at a simple strategy for putting a stop to overspending so you can succeed with your simple personal cash flow plan and achieve financial freedom.

When Willpower Fails You

A lot people who give in to overspending believe they have a problem with willpower or with staying disciplined. However, it has been proven that we have something under our command which is much stronger than our willpower…that one thing is our imagination. Any time there is a conflict between our willpower and our imagination, we’ll always default to what we’re focused on in our imagination. Hypnotists call this “the law of reverse effect,” and it’s this law which holds the key to being disciplined to stick with your financial plan.

For example, if you’re constantly imagining yourself owning a big screen TV, but you’re telling yourself that you shouldn’t buy it because it’s not a part of your financial plan, your imagination will win out eventually. The same is true when it comes to dieting, if you’re imagining something which you know you shouldn’t eat and telling yourself that you shouldn’t eat it, you’ll eventually give in. Again, the will is no contest for the desire which is aroused through the imagination. So if you want to stay on track with your simple personal cash flow plan, you’ll need to summon the imagination to your aid.

What Will You Focus On?

So now you know that your actions are most heavily influenced by what you focus on in your imagination…so what will you focus on? The next time you get the “urge to splurge,” change your focus immediately to the long-term financial results you want to achieve. For example, if it’s your goal to get out of debt, imagine yourself sending that last check, cutting up that last credit card or receiving the title to your car from the finance company. As you do this, focus on the feeling of freedom you’ll have in knowing you’re that much closer to financial freedom.

In other words, focus your imagination on the true object of your desire and concentrate on that thought until it sweeps aside any other idea in your mind. The more you do this, the stronger your desire will be to reach your long-term goal and the harder it will be for you to give up on it for the sake of a momentary temptation.

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