Effectively Using Your Line of Credit Means Repeating the Little Things

25 Apr Effectively Using Your Line of Credit Means Repeating the Little Things

Small Changes Bring Big Results!

Early in my career I had the good fortune of having a supervisor who loved sharing his personal insights about life. One of his insights he shared has served me well. He shared that there are few really big events in life that have long lasting effects. Instead, it’s the mundane things of life that are either done or ignored that have the biggest impact.

Time slips by and we look back and wish we had taken the time to do the little things. We calm our nerves by telling ourselves there’s always tomorrow. The list can be long: taking a few minutes to read to our children, have a conversation with our spouse, making small changes in our diet, going for a walk, writing our dreams, creating a budget, etc. The longer we wait we’ll begin to seeing what we’ve missed. Too often we get discouraged believing it’s too late for small changes to make a difference.

Creating a Climate of Positive Change

It’s never too late to make small positive changes. When we fail to act we are making a decision. Small changes are either positive or negative. Inaction is an action. A key question to ask is, “What can I do that will encourage me to consistently take positive actions?” Take the following powerful small steps: writing down your dreams, creating your budget, selecting an accountability partner, increasing your savings with each salary raise and, setting time aside each week to review, track, adjust and celebrate your progress.

The articles by Susan Kearns, The Psychology of Money – How Saving and Spending Habits are Programmed in Your Brain in blog Money Crashers and ‘Will Power, finances and spending’ published by the American Psychological Association provide great tips on taking small changes that will bring ongoing positive changes in your life.

Using Your Line of Credit Gives You a Psychological Boost

Setting up automatic loan payments to your line of credit and automatic savings withdrawals are small steps that will enable you to put 100 percent of your hard earned dollars working for you all the time. You’ll quickly see your debt fall and your savings grow faster than you ever thought possible. There’s nothing like a successful step to encourage you to repeat it over and over again. Even though you know you are sticking to your budget, seeing a balance owing on your line of credit will act as an additional deterrent to spontaneous purchases.

Learn just how easy it is to use a line of credit by downloading my free e-book, ‘Working Your Lazy Dollars’ and by watching the YouTube Video series, Picture Your Line of Credit. The iPad finance application, CashMap, is a great way of creating your personal scenario and immediately seeing 15 years into the future. Give it a try!

Thanks for joining me. I’d love to hear from you. Take advantage of our articles, interactive materials, videos and, e-books.  Please send your questions, topics or suggestions to dennis@cashmapconsulting.com. You can also follow me on twitter at @cash_map.