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Don't Let the Forecast for Your Future Become Cloudy

Managing Your Finances

This Blog Post Was Written By financial coach Tonia Peasley


The last few weeks have given us all a chance to get back to the basics of our lives.  Spending time at home, cooking meals, and determining what is truly important to each of us.  We do not know when the time to get back to “normal” life will happen, nor what that will even look like.  I’ve spent some time pondering this and what I do know is many of us will continue to face challenges in the coming months and, for many of us, a lifetime of changes.  

The majority of people grow up learning the basics of spending, but time often transforms how we look at our money and our preferences on where we spend.  I became interested in financial coaching when I decided to reverse the trend of poor financial habits in my own family. This, in turn, led to a deeper obsession with helping others do the same.   [TP1] Coaching helps you execute the fundamentals of spending and looking at where you spend your funds.  We often overpay for our indulgences [TP2] because we overestimate the stability of our current situation.  We indulge in our current opportunities and preferences and we embrace these choices as the norm.  

But what we may find is that the upcoming weeks and months ahead may throw some kinks into that stream of thought.   The stability that you found in your lifestyle, your job, or your relationships, may be tested and the forecast may become a little cloudy.  Now is the time to do a discovery session into your spending habits.  Here are a few thoughts that may have come to mind in the last few weeks:

How can I get better at delaying gratification?

This, in my opinion, is the key to building wealth and finding solid ground when it comes to managing your finances.  Spending time at home has made us truly manage our “spending habits” and has provided the realization of which expenses we truly find happiness in.  For example, my family has discovered that although we enjoy watching a few television shows together, television is not that important to us.  What we do know, however, is we like to have the ease of Amazon at our fingertips to order a replacement for a broken flashlight over actually making the trip to the store to replace it.

We all make mistakes. 

The definition of insanity is doing the same thing over and over and expecting different results. We all make mistakes when it comes to money.  We spend too much money on a car or maybe we buy an outfit or another pair of shoes we never needed.  What really separates those who succeed from those who ultimately fail is the ability to acknowledge their OWN faults and make adjustments moving forward. 

If you have been pondering on when is the time to “get it right”, now is that time.  If you struggle to break spending habits that are not in your best interest, find someone who can help.  If you want to get on the road to saving and investing, the worst decision is not starting.  I love the slogan “just do it” as it emphasizes the fact that all paths must begin with a single step. I’m here to help you get on that path and start making better decisions with your money.


If you found this article useful, you might like the following blog posts:

Military Finances 101: What is Financial Coaching?


Military Finances 101: 4 Ways to Save on Food Expenses


Military Finances 101: How to Trick Yourself Into Saving Money






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