Dana Edwards, Peak to Peak. Over the past couple of months, I’ve made some big changes. I moved from my former financial planning firm in Denver, to my new one in Boulder. This was a fantastic move. I am immeasurably happier, healthier, and more positive all around. 

But, despite how great the move has been, this change was hard! Even though it was good, I was excited and looking forward to it, there were moments of doubt and worry. There were communications and goodbyes I was not looking forward to. Effort, discipline, and courage were all requirements in order to make it happen.

Change is a funny thing. Even when it’s a good change, it isn’t necessarily easy. Just like in financial decision-making. Often, when dealing with one’s personal finances, there is change involved. A change in habit, a change in budget, a change in spending, a change in saving. Making positive change in your financial life is a great thing, not only for you and your life right now, but potentially for the many years and decades ahead! Yet, even though we all know this, making these changes is hard.

One of the greatest motivational tricks I ever learned was around commitment. The trick was to make a commitment, every day, to doing something I had absolutely 100% confidence in being able to achieve. Not 50% or 80%, but 100% confidence that I could do it. When the stakes are that high, it forces one to take a moment, pause, reflect. Ask yourself, “If I’m absolutely 100% committing to doing this, what am I truly capable of?” 

In my profession, many people think they can make sweeping changes and in no time. Cut the grocery bill in half, never eat out again, give all their discretionary income to building up savings or paying down debts. Make a complete financial-180 in three months or less! While all of us would like to make radical change quickly, life simply doesn’t work that way. And, while we may be able to maintain this accelerated mentality for a month or two, inevitably, we are likely to regress back to our old habits. 

We’re not making financial change for 30 days. We’re making financial change for life. And, like anything work devoting a lifetime to, it will take a substantial amount of effort, discipline, and courage. It will also be worth it.

Look at your financial life. What is one change that you feel 100% confident you can make and continue to make every single day?

Dana Edwards, MBA, is an advisor with Cornerstone Investment Advisors, LLC and can be reached at 303-545-5400 or by email at dana@cstoneinvest.com.

(Originally published in the October 17, 2019, print edition of The Mountain-Ear.)