Counting Pennies

Saving lots of money or having a huge amount of debt to pay off can be truly overwhelming. If you’ve been working at it for a while, there will come times when you’re more than ready to give up. Learning to find a balance and figuring out how to keep focused is essential. “I think it’s easier if you set short term goals, then allow yourself a small treat when the goal is met,” says Pat, the community facilitator at the Dollar Stretcher Forums. “That sounds like kindergarten psychology, but it works on adults, too.” Finding ways to reward yourself or to have fun without spending money can also help you feel less deprived and help you avoid the spending sprees that come from feeling overwhelmed.

Other ways to keep going while you don’t feel like it:

• Step away. Go for a walk or take a few days off from anything financial. Give your brain a break and allow yourself to do something else that doesn’t involve counting money or worrying about saving and spending.
• Surround yourself with like-minded people with the same goals. It’s easier to save if those you have around are on the same path.
• Keep an eye on the big picture. Remind yourself what you have to gain if you keep saving (or paying off your debt) and how far you will go in life if you don’t allow small distractions to set you stray.
• Allow yourself a small stipend (token money) to spend on whatever you want. $20 is a fair amount. Stretch it as much as possible by spending it at garage sales, dollar stores or discount centers. Force yourself to go somewhere and spend it, though, even if you feel like putting it away. It will help you feel better to know you can reward yourself when you want.
• Read success stories from people who have been there and made it through. Look for them on books, magazines or websites. Remind yourself that if others can do it, you do too.