Have you ever attempted to get control of your finances only to find yourself failing? Have you tried creating a budget, only to find yourself going over the ‘fun’ part in the first weekend? As with any new goal, attempting it headfirst likely won’t get you very far. Think of how many people you see in the gym in January (resolution time), and then how many drop out by February? Often the best strategy to making a change in your life is to do so slowly, with small, easily attainable milestone goals. After all, a journey of 1,000 steps begins with the first step.

Same goes for your finances and getting control of them. Not everybody will achieve YoungMoneyFinance black belt level status on their first attempt. It could take several months to change your habits before you can successfully pack your lunch. The nice thing is that you don’t have to change overnight, your finances will still be there waiting for you tomorrow! I’d like to introduce you to the idea of one small change, or the power of ONE. This idea understands that change is tough, and that harnessing your willpower to control your finances isn’t easy. Saying no to the Starbucks run in the morning or staying in for dinner is tough. The real trick to success is not tackling them all at once, but one at a time. Try to pick one easy part of your finances to conquer, and apply all your willpower towards accomplishing it. Don’t worry about the other stuff at the present time, focus on achieving ONE goal. Consider the following exercises in the power of ONE:

• Packing your lunch ONE day each week will cut your lunch costs by 20%
• Carpooling to work with a friend/coworker will cut your weekly fuel costs by 20%
• Having a ‘chill’ weekend once a month will cut your monthly ‘fun’ expenditures by 25%
• Turning down your thermostat in the winter ONE degree can save you approximately 3% on your heating costs
• Increasing your retirement contributions by 1% can mean an extra thousands in your retirement account when you retire

It’s pretty amazing that by choosing to tackle one item on your finances can have such a profound effect (20% of fuel costs?!?) on your budget. I think most of us are capable of packing our lunch once a week. The real secret to being successful with your finances is finding a solution that works for you. Try to pick ONE item in your monthly expenditures that you could reduce or cut out. Perhaps you could cut the cord or say no to the morning ritual of a $3 latte.

I really believe that by choosing to focus your willpower on just one part of your bettering your finances, you’ll be able to get the success you desire. The best part is that you don’t have to tackle your finances as whole; it can be just one simple thing! The Power of ONE, don’t underestimate it, one simple change can lead to big results!

Thanks for reading! Started your taxes yet? Started thinking about your taxes yet? Use TurboTax? How about making that return a little larger this year with an Amazon giftcard bonus of 10%?!? How about having that as your one step? Yes please!