Second, a sense of power. I never had much money growing up, and what I started having some disposable income in college (about $100/month in today’s dollars) it was very exciting to me. I remember being almost ecstatic to be able to buy my very own fingernail clippers and scissors. At home we had plenty, but I could never find them. With my very own, I always knew where they were, so I could use them whenever I wanted.

Oh, another thing that helped was the idea that I was fighting the man. My last year in college they wanted me to take out two big loans. I made a conscious decision to refuse one of them and live very cheaply instead. I would go around thinking things like I’m glad I already found shoes with good traction before (I went to school in a snowy place), so I didn’t have to worry about that. It’s amazing how well you can live with just what you have already accumulated. And I was glad I was young and healthy enough to be able to walk everywhere. For example, I not only walked 1.5 miles to the grocery store, I also walked home with my groceries, in the snow, thus saving the quarter bus fare. Heavy things went in a backpack, the rest in a grocery sack.) Think about those “uphill, both ways!” stories your elders tell, and create some war stories for yourself.

If you can find a way to reframe the situation as taking back the power and refusing to let evil debt get the best of you, finding little victories around every corner, that may help. I read a blog of someone who would talk about debt as if it were an arch enemy, personalizing it, trash-talking it, etc. It was great fun to read, and probably fun to do.

Hey, maybe I should do that with these extra pounds I don’t need. (Oh, yeah, Mr. Cheeseburger? You think you can lure me into 600 calories with your steaming, cheesy goodness? Nice try, you wiley creature, but I have you by the throat. Because I have peanut butter and jelly, right here in the house. Mwahaha!)

Another bizarro thing that helped me was that I like making handwriting pretty. So, I liked writing checks. So, even your embarrassing strengths can be bent to your will.

The first problem is going to be dealing with that ill feeling. You do know that for stuff like this (as opposed to, say, going to war), it’s never as bad as it you think it’s going to be. I’d recommend breaking things up into small steps that don’t seem so horrible in themselves. It sounds like you think the first step is something like adding up all your debts and seeing what a horrible number that comes out to. Or writing down everything you spend for a pay period and comparing that to your income. Those can be quite scary or intimidating. I’m not sure what kind of first steps might seem okay to you. Maybe one of these?

1) Double the minimum payment on one of your credit cards.

2) Look up the interest rates on all your credit cards. Then take the worst one out of your wallet.

3) Call your favorite credit card company (or least horrible one) and ask for a rate reduction.

4) Try to buy nothing for a whole day.

5) Ask a friend to do some of the big picture stuff for you and then recommend some steps.

6) Actually, just ask a friend to brainstorm some ideas with you.

7) Set aside a whole evening to do something, and have your favorite treat by your side and your favorite music playing in the background.

Make yourself do something productive for just ten minutes: set a timer.

9) Make a list of all the due dates for things.

10) Ask your friends about how they chose their checking and savings accounts, then see how yours compares.

Finally, how do you know you need to get your finances in order? Are they worrying? Is it just something you’re supposed to do, but you don’t know why? Do you wish you could visit Paris but “know” you could never save up that kind of money? Focussing directly on goals you have that will make you happier rather than on some vague dealing-with-finances type of goal is the only way to go.

What do you most want? I wanted to be able to afford to live away from home, then I wanted to pay off my loans, then I wanted a car, then a house. Those were the big things. I also wanted little things like pens that didn’t glop. I also wanted the freedom to take advantage of opportunities to join my friends in rare but expensive opportunities. I also really like not having to scramble for funds for things (some people find that exciting and thrilling!).

I wish you the best of luck.

I also used my blog to help motivate myself and when I got all the reassuring comments from my readers I felt that I had some support.

Another thing I found about loving personal finance is that there are so many tips out there. I not only found ways to save my money but I also found tips to manage my debt and ways to make more money.

The best advice I can give here is to start slowly and make everything automatic. That way it will not seem overwhelming and then you can gradually increase.

Instead of saying you have twelve credit cards to get under control, start with just one.

Instead of saying you need to get a high yield savings account and an IRA and buy some stocks….just take a deep breath and start with something small. Get $2 transferred to your savings every month. This is a small enough number that you will not miss and then you can increase it.That is how I started and then I was able to finally get to $50 a month.

Then take the steps to get a high yield account.

Do each thing in stages and when one part becomes automatic then move on to the next thing.

Personal finance is not a sprint like with the Hare in the Tortoise and the Hare story. It is like the Tortoise…..slowly but surely you will get there.

Sometimes you will have set backs and you will want to give up….but don’t. Just keep moving on.

Over those 9 years, I had several close calls – a forgotten bill that I had to pay at the last minute, wiping out my bank account and leaving me digging for lose change for lunch; the unexpected expense, car repairs and such, that had to go on the credit card as I had no cash reserves; and the complete disregard for my debt to income ratio, leaving me with a lower credit score despite never having a late or missed payment or outstanding debt.

This year, I finally got serious about personal finance, established a budget, started setting aside money for cash reserves, enrolled in my company’s retirement savings plan, initiated automatic investments, and most importantly, started hammering away at my debt.

So what changed to refocus my financial energy?

I found my motivation. I got married last year, and when my wife and I started looking at our finances as a couple, it was a bleak picture. We want to own a house, we want to have kids, we want nice cars, we want “fun” money — none of which we can have if we’re paying so much towards our debts.

I think the key to taking on any commitment, whether it be to a job, a spouse, a project, or a commitment to your personal finances, you need to decide why you want to do it, and you need to see what the ultimate payoff will be. If you are too focused on the present, too focused on the immediate reward, it is hard to convince yourself to plan for the future, save money, and pay off debt.

I opened my eyes, saw the problem, and started to address it. I was slow picking it up at first – I kept dipping into our recently saved money to pay for “fun” now; I kept putting off the retirement plan; and I delayed starting the automatic investments. But I also started reading many personal finance articles and blogs, and I learned a few key points, enough to reinforce, not just superficially but deep into my values, the importance of personal finance.

(1) Save for now, more for later.
(2) With the right planning, save for now, still have some for now, and more for later.
(3) “I will start” is not the same as “I am starting.”
(4) “Budget,” “Saving,” and “Personal Finance” are not complex or impossible – they are simple, flexible, fully customizable, and entirely attainable.

With these in mind, I set out on my quest to eliminate debt, save money, and even live happier – one I relieve the stress of living paycheck to paycheck under a mountain of debt.

CEO’s like to cut costs/expenditure and try to get more income/take home money.

Hope this will get you motivated

My finances are still waiting for all this to be helpful, but once I’m not as stressed about money because I have my emergency fund, and I pre-pay some of my large mortgage, and get all the insurance docs and papers in a row. I’ll be able to come home, sit back and think ‘Everything is taken care of’. This is much better than coming home and worrying if there is enough money to pay my power bill because it’s winter in Canada.