Ever feel like you’re just spinning your wheels financially? Sometimes it seems that your paycheck comes in the one day and goes out the next day to pay your bills. Does that credit card statement seem to be getting bigger each month? Does saving for retirement (much less saving at all) seem like a nice but unattainable goal? Being in this situation certainly isn’t a fun place to be. You may feel like you’re simply treading water, and you don’t see how things will ever get better. In comes what I like to call the snowball effect. I’m sure many of you have heard it referred to as the debt snowball effect, but I think it can also apply to your savings, and may actually be the mental attitude you need to adopt to get you out of the financial mess!

Why an attitude change is necessary

Let’s be honest about these types of messes. It’s unlikely that we’ll either win the lottery or get a huge pay raise at work in the next month. It’s unlikely that our credit card companies will decide that we don’t owe them the money anymore. It’s unlikely that we’ll be able to somehow stop eating or that we’ll be able to find a way to walk to work to save gas. Being in a financially messy situation likely won’t get better because the circumstances change; it’ll likely get better because our attitudes change. Once we have an attitude change, we’ll then be able to get ourselves out of the mess. So before you go and cut out cable or pick up that second job, get your head in the right place!

The snowball starts

The first dollar saved will often be the hardest. Mustering the will power to say ‘no’ will be tough. However, building a snowman or a good snowball to throw isn’t easy to start either. That first handful will feel pretty worthless compared to the task before you. But, every snowman or snowball has to start somewhere, and it’ll take you getting your hands down into the snow for it to start. Saving for retirement or paying more than the minimum due on your credit card is no different. It’s not easy and will only happen if you set your mind to doing it. Say no to the Starbucks on the way into work, pack your lunch and cook for dinner. Do whatever you can to save that first dollar, and remember that it will be the hardest.

The snowball starts to roll

Once you’ve mentally made the decision to get out of the mess and have gotten your first dollar saved/paid, the next one will be much easier. You’ll have the memory of sweet victory fresh on your mind, and you’ll likely be hungry for more. You’ll see your credit card statement going down instead of up, or to see your bank account growing, and you’ll be left with a good mental boost. Now you’ve already proved to yourself that you can do it, and you’ve tasted sweet success. You’ll suddenly find yourself wanting more and it’ll only get easier from here. You’ll start saving more, little by little.

The snowball rolls on its own and grows and grows

Sooner rather than later, you’ll find yourself in a new routine. You’ll be passing by the Starbucks and saying no to that new pair of shoes. You’re now on a mission, and you won’t let petty impulse purchases get in your way. Saving/paying down debt will become second nature to you, and you’ll soon notice yourself doing it automatically. Every month, your credit card debt will go down a little more than it did last month. You’ll notice things starting to click and working together, and you’ll be amazed at how quickly you went from zero to hero.

Making a change in your life is tough. Sure the mess you may be in now is bad, but getting out of it seems almost impossible. Go ahead and try this method out, I think you’ll be pleased. The hardest part will be saving that first dollar, and then little by little, it’ll get easier. Before you know it, you’ll have made a major change in your financial habits and will find yourself a changed person!

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