Are you Frustrated with Your Money Progress?

by Galia Gichon on April 19, 2010

If solid money habits don’t come naturally to you – stop for a minute –
and recognize you are in the majority.  Take it a step further, which
group to you fit in?

1) Do nothing.  Watch your savings stay in double digits or keep getting
statements in the mail that stay UNOPENED.
2) Try and do it yourself.  Get started.  Get stuck.  Get confused.  Move
forward at a snail’s pace.
3) You have created a money success system around you that is positive and
leads to results.

If #3 sounds like the group you would like to fit in, try one of these
money exercises to get you there.

Write a letter to a friend describing what your money life looks like one
year from now.  It should only be positive.  Even if you think you are in
a negative situation, describe where you would like to be on a positive
basis.  Even if you can’t fathom that it will come true, try and shoot for
the moon!  For example:

Dear Susan,
I finally decided to take charge of my finances this past year.  I felt
very inspired by my current financial situation and wanted to understand
what was going on with my spending and investments.   This past year I was
finally able to increase my savings by at least $1,000 a month.  I cut
back in areas I didn’t really need and spent smarter in other areas.  I
put my savings on automatic pilot so I didn’t even have to think about
saving each month.  I finally learned about mutual funds and regularly go
on to check their performance.  It is a great feeling
knowing my money is in my hands and I know what to do with it.  I am also
getting ready to buy an apartment and know that I will have enough saved
for a down-payment soon.

Put your money letter on line.  Check out  You can write a
letter to yourself and even create goals.  The site then delivers your
letter or goals on dates that you choose.  I’m going to send myself a goal
of contributing a certain dollar amount to my SEP IRA within the next 6

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