This article is the second episode of FTB Radio, the little podcast experiment I run here at Fire The Boss. I recorded another short podcast episode about motivation. Listen to the episode right here!
FTB Radio 002
For me, motivation is built on the following things:
- Visualise the end-goal
- Set out intermediate steps
- Measure your progress
- Celebrate milestones
Visualise Your End-Goal
The first thing I do is setting my end-goal. That end-goal can be financial independence. I picture myself in this state where I was successful and reached that goal.
In case of FIRE, I visualise myself having a life where work is optional and I have time to spend with my family, pursue more fulfilling tasks in life, and generally be happy.
Set Out Intermediate Steps
Becoming financially independent is not something you do overnight. It takes a lot of time, so I seek out intermediate steps. I’m breaking down the goal into smaller chunks that are more manageable.
Then, I measure the progress towards these small goals. I’m not just a personal finance nerd, but also a data nerd.
By collecting the data, analysing it, and where necessary changing course, I make sure I always keep my eyes on my goal.
It’s important that you celebrate when you reach your milestones. Celebrating helps you stay motivated, and you know, once in a while it’s nice to treat yourself real good.
Go out for a nice dinner after achieving your savings rate goal for the year. Or go on a long weekend away after chipping away tens of thousands of euros from your mortgage. Well done, now go and enjoy!
What do you think about staying motivated? And do you like this podcast format every now and then? Let me know in the comments below!