One of the biggest blocks to success is a client’s financial self-sabotage.
As coaches, we’ve seen this happen.
Financial self-sabotage slows if not stops the progress toward financial goals.
Self-sabotage includes keeping secrets from your financial coach, your spouse, and even yourself.
I have a fitness coach whom I hired to get me in shape. I do all the exercises he requires (while I was with him), yet I also eat a regular Chick Fila meal complete with waffle fries and a shake.
Would I get in shape?
Actually, I would make little progress.
If this trend continued, self-sabotage would keep me from making my health goals.
The scale and measuring tape would tell the truth.
Is your lack of financial traction telling the truth?
If you’re not reaching your financial goals, be it increasing your savings or decreasing your debt, perhaps you are unknowingly in financial self-sabotage.
Here are some key questions to ask yourself:
• Do you get cash back during a purchase and use the cash for extra spending?
• Are you regularly making unplanned purchases, thinking you’ll “just make it work” later?
• Have you received extra income and spent it on unplanned, non-emergency items?
If you answered YES to any of the questions, you may be the victim of financial self-sabotage.
We encourage you to make HONESTY a HABIT in this process.
First, be honest with yourself. Make sure that you are truthful in your spending and saving.
Second, be honest with your spouse; there should be absolutely no financial secrets here.
Third, definitely be honest with your coach. In actuality, your coach should be able to tell if you’re hiding something.
Always remember that your coach is looking out for your best interests. Don’t allow present financial self-sabotage to keep you from achieving your future financial goals.