Finance is the aspect that keeps fluctuating with the passing time as your life progress further. Let’s face it! All people of different ages and demographics have their financial agendas and objectives. Some might desire of getting a car while some might plan to get the home.
In today’s life, where there are plethoras of expenses to deal with, handling the money is a far more difficult task than it may look from the surface. Remember, wealth is not something that you can generate within overnight, you have to nurture it, and that takes time. Now, in the middle of all such things, facing crisis pushes you away from goals and also demoralize you.
Why staying motivation is necessary to remain financially balanced in life?
Motivation is a crucial factor required in succeeding in life, be it financial, emotional or any physical. The higher will be the motivation towards any task, the higher is the chance that you will succeed. However, sometimes life throws situations towards you that make you clueless or out of any idea that how you should deal with it.
These spontaneous financial situations could be anything, such as:
- Sudden Job loss
- Medical emergency
- Unexpected trip
- Sudden home repair
Plenty of other forms of financial crisis are there. But, what all these do is they affect your stability in life. During such financial hardships of life, you must find a way to stay motivated. This is where following Goldilocks rule can be of great help for you.
What is Goldilocks rule: Know it precisely
This rule indicates that a particular person reaches the level of highest motivation when they involve in a work where they are most comfortable or have high interest. Now to understand this concept better, let us take an example that you are good at playing basketball and you are playing with a beginner. Well, it is quite primitive that you will get bored and lose focus. On the other hand, if you play with an expert or a pro, the chances of losing the motivation get higher because you won’t win.
So, the Goldilocks rule suggests that one must indulge in activities that help them stay motivated. Going too low or too far will affect the motivation inside you. Now, the main question arises on how it can be implemented in finance. Let us discuss this.
How to implement goldilocks to stay financially stable in life
As mentioned above, motivation is not something that we only require for any physical task; it is needed for every other job. Lack of motivation makes us believe that we are not capable of doing it, and that’s the point where we start running out of ideas.
When chasing any financial goals or facing any crisis, having motivation is necessary to deal with it as it acts as an inner fuel that boosts us to keep going. Now, let us understand how you must implement it to stay financially stable.
Don’t choose a goal that you cannot accomplish
Having a goal is necessary, but it is more important than you are well aware of whether you will be able to achieve it or not. Choosing a goal that you can afford to cope up will make you frustrated or even lead to anxiety. Now, this is precisely what Goldilocks rule suggests people that they should choose something that their inner guts tell them they can do it.
Always track your performance
Setting the goal is quite easy, but what it takes is the process or the hard work that you put in to achieve it. Thus, when we are chasing a goal, two things will take place either you will be standing where you are right now, or you are moving forward.
Now, to know the status, you must keep track of your performance from time to time. This will give you a clear representation of where you stand and what you need to do for improvement.
Take support when needed
At times, you must not resist yourself from taking help when the situation demands. For instance, if you have finally saved enough money to get a car of your own, but still need some additional funds, you can go for quick loan in Ireland from any direct lender. So, the crux is that you should take assistance if that helps you reach your goals faster.
Wrapping up, this was everything that you need to know about Goldilock’s rule and how it can be implemented in your finance as well. The main objective of this method is to make the follower stay motivated towards the goal that he/she is chasing.