Somehow, your expenses always seem to expand to meet (or exceed) your income. So even though you’ve been working really hard lately and making more money than you ever have before, your bank account never gets any bigger.
The problem is that as soon as any extra money starts coming your way, you take it as an excuse, or even permission, to spend more impulsively. You get in the habit of buying things you don’t need, just because you can afford them. And so you’re never able to save up anything.
Many financial advisors and similar people would say you need to stop spending that extra money and put it all into savings or investments, for a rainy day. But honestly, what’s the good in making extra money if you can’t enjoy it? Fortunately, there’s a better way. You just need to treat your spending habits the same way you treat your business: make them goal-oriented. You need to learn how to reward yourself for your success.
You already know how to set specific goals for your life and career. It helps you stay focused as you follow your passion. But what happens when you achieve those goals? You’ve worked hard; you’ve accomplished something great. You deserve a reward.
Rewards are very important when living a life “on fire.” If you’re having a difficult time of things, focusing on the big picture isn’t always enough to keep you motivated, especially when it seems like you’re no closer to your ultimate goal than when you began.
So to keep yourself on track, set more immediate goals, with specific rewards that you give yourself for achieving each one. The anticipation of the immediate reward can keep you going when your ultimate goal seems far off and impossible.
And when you know how to reward yourself for your success, you can keep your money in check, too. Instead of going on frivolous spending sprees, take a good hard look at the things you want and the things you can afford, and attach each of those things to a specific work goal, that you need to achieve in order to make the purchase.
You just landed an important new client? Go out to dinner at that fancy restaurant downtown. You opened up a second location? Take a weekend getaway somewhere exotic and relaxing. You’ve made the Fortune 500 list? At this point, you can probably get yourself a new house.
You work hard. You deserve to treat yourself every now and then. But like everything else, those rewards need to be specific and purposeful. Knowing how to reward yourself for your success can help you stay driven as you follow your passion. And it can also be a lot of fun.
