5 Tips to Maintain Financial Momentum This Summer

When somet

hing is going well, you want to keep it going, right? So if you’ve started to seriously tackle your debt problem or started to funnel more money into your savings or retirement accounts you obviously want it to continue. But things can change in the summer. Kids are out of school, you’re taking time off work, or just spending more time outside. All of these things can potentially derail the good habits you’ve recently developed and kill your momentum.

  1. So, start by identifying what’s working and why you want to maintain it. If you’re making progress on one of your financial goals, make it a priority and don’t let it slip your mind. Write yourself reminders or find other ways to trigger small rewards as you continue to progress.
  2. Automate what you can. We live busy lives and the less you have to think about doing something, the better the chances it gets done. So go ahead and automate your savings or anything else you can so you don’t have an opportunity to slip back into your old ways. Doing this will also help free up

    more time to enjoy yourself this summer.

  3. Find a new savings account. If you haven’t shopped around for good rates on savings accounts or CDs in a while, it’s time to do so again. It’s one of those things you often do once and forget about it, but there are always new rates and promotions to take advantage of.
  4. Treat

    yourself. If you have been diligently plugging away at improving your finances for a few months it’s time to reward yourself. No, you don’t need to go out and blow all of your savings on a new toy, but set aside a little time for yourself as a way to pat yourself on the back for a job well done. It may be just enough to keep that momentum going.

  5. Continue to learn. One of the best things you can do to maintain financial momentum is to never stop learning. Sure, maybe you’ve paid off your credit cards, have an emergency fund, and are funding a retirement account, but there’s always something else to learn. Just spending a few minutes a week reading financial blogs and websites such as this one can go a long way in keeping you on your toes.

I hope this helps spark a little interest in your finances as we kick off the summer. By following tips like these you’ll be sure to maintain your success even though you might not be thinking about money as much while you’re having fun in the sun.

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  • Great tips! Thanks for sharing! Keeping momentum with my home business is something I try to work on during the summer when the kids are home from school!

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