Increased debt and a mountain of medical bills are just some of the money problems that might be keeping you up at night. You might be so wrapped up in worry that you don’t notice how far you have come or grown in your financial journey.
We all hope to become successful one day. We hope to accomplish ambitious goals but along the way, we may feel demotivated. We make time to mop or feel negative about failing, but we never seem to create time to celebrate our success no matter how small. Small wins give us the motivation we need to push through hard times. They help us move forward. Small wins could be anything from sticking to a budget to not wasting food. These wins are usually in line with your intentions.
How often do you stop and recognise your successes while working toward your goals?
Here are three reasons to celebrate small wins.
Celebrating small wins fosters motivation and builds momentum. When you accomplish something you feel good about yourself. This drive pushes you to carry on.
There are times when you might feel like you are stuck in an endless circle of difficulties. It might feel like you are going through disappointment after disappointment. Celebrating or acknowledging your wins no matter how small can help you stay positive.
Over time small wins might add up to big accomplishments. Acknowledging these small wins may keep you on track and encourage you to keep working towards your goals.
Here are ten small money wins worth celebrating:
The world today is literally at your fingertips. You can purchase anything, anywhere in a matter of seconds. With this convenience, it's easy to find yourself impulse buying things you
don’t need or have the money for. If you have at any point managed to resist the voices in your head pressuring you to impulse spend then that in itself is a win worth celebrating.
When you resisted making that purchase it resulted in you saving more money. This money could go towards your financial goals like paying off debt. Overspending might lead to financial stress. Another reason to celebrate this win is that resisting impulse purchases can reduce stress and anxiety caused by financial pressures and materialistic desires.
With the rise of mobile lending apps, more and more people are finding themselves wrapped in huge amounts of debt from various sources. Being able to detangle from that wrap is a win.
You might think paying back a soft loan isn't a big deal but it is! Not only does paying back a loan show you are responsible and disciplined but you are also building a track record of responsible borrowing and repayment. This might make it easier to access other loans in the future. Once you have finished paying back the last loan amount, you now have money to spare that you could direct to your savings or other financial goals.
Not using the money you saved up might feel like punishment but it is a punishment that will reap rewards for years to come. For starters, not withdrawing money from your savings leaves you better prepared if an emergency arises. It shows you are learning how to prioritise and are growing in your financial discipline and this might bring you closer to achieving your financial goals. Being able to go about your month without withdrawing money from your savings means you can work within your budget and this in itself should be celebrated.
Developing the habit of reviewing your finances is a win because it helps you identify problem areas like where you overspend or need to cut down costs, thus improving your overall financial health. If you have developed the habit of keeping a close eye on your finances then join the party because we are celebrating this win.
It's hard for many people to classify what is necessary and unnecessary especially if you think everything is essential. But if you took the first step and decided to evaluate your spending and overall costs. You would not only be freeing up money but allocating it to where it's truly needed. Cutting costs is never easy or fun but it's necessary.
According to the World Food Programme, one-third of food produced for human consumption is lost or wasted globally. This amounts to about 1.3 billion tons per year, worth approximately $1 trillion (Ksh147.45 trillion)
When you prepare food that goes uneaten or is left to spoil in the fridge or cabinets, you are literally throwing money away. But if you have made adjustments to your food habits and learned why your food goes to waste and how to change that then you should be celebrating the win you have given your household.
Saving for things like a vacation or a car might seem like something that can only be achieved in our dreams. Admittedly this win will require commitment but once you do set this target and work towards it, you are building better financial habits and a stronger ability to resist unnecessary spending.
Read Also: How to Create a Goal-based Savings Plan
Earning a bonus or your first commission is always something pleasant. It gives you a sense of accomplishment. You should celebrate this win because others have recognized your dedication to your work and are acknowledging it. This extra income could also go a long way in improving your financial health.
You might be dreaming of buying the latest gadget or going on a long trip but unless you magically have an endless source of funds, you only have a certain amount of money to work with month after month. This doesn’t mean you only have money to spend on bills and necessities, it means you may need to make adjustments to your budget. If you have managed to create a budget that balances your needs, wants and goals then you should be celebrating this win! Having a manageable budget is key to improving your financial health.
It helps you track your spending, plan for future expenses, and help you achieve your saving goals because it helps you map out how you’re going to achieve these goals over a certain period.
You should be dancing all the way to the bank with this win. This is because the more sources of income you have the faster your money grows. Building a new income stream will also make reaching your financial goals easier as opposed to having just one stream of income. Building a new income stream also decreases your chances of losing it all in the event you lose your job or your employer goes bankrupt.
You won’t achieve your big goals overnight and that’s okay. Oftentimes we tend to focus on the end goals and not the small significant steps we took to achieve these goals. Everyone loves a good celebration, so why not celebrate your wins? Set time aside to reflect, acknowledge, and celebrate what you have achieved, no matter how small.