Jumping Financial Hurdles

Inevitability, when you start to get your financial life on track there will be a financial hurdle. There is no way around it. Since I started coaching people in personal finance, I noticed that everyone experiences a financial set back. This is one of the toughest moments for my clients, but one of the most rewarding moments as a coach. I get to usher them through a point that seems incredibly overwhelming and scary. Why does this moment feel good for me? Though I wish everyone’s journey was easy, it is not. I went through a personal finance hurdle and I didn’t have anyone experienced to help me through it. I took a lot of internal encouragement to get me back on track and believing in my process.

When I was paying off my debt, I was on a roll. Meaning, I had so much momentum that the steps I needed to take to hit my money goal were becoming intuitive. I felt proud about my discipline. I was living on a plan and everything was coming together like perfect puzzle pieces. At the time, I was 1099 and working for myself. Unfortunately, when I entered into my contract, I received very bad tax advice from a tax professional. Of course, you would think that you can trust tax advice from someone who has been doing taxes for years. When it was time to file my taxes I received devastating news. I owed $10,000 in taxes! TEN GRAND! I couldn’t believe what I was hearing! It was so unbelievable that I went to another tax professional and he confirmed that the number was right.

I felt a huge drop in my stomach and self-doubt started to kick in. I had a flood of questions and my frustration level was off the charts. Additionally, I was scared. Was all the effort I put into my money dream worthless? Will I always be in debt no matter what I did? Have I dedicated myself to a plan all this time that was wrong? I felt like I was doing all the steps right, but that experience made me want to throw in the towel halfway through my journey. It took me roughly two weeks to get back on board with my plan. In the end, I decided it was a test. Having that mental shift recommitted me to my plan. The $10,000 was added to my overall debt plan and I stayed on track.

There is always going to be another financial hurdle when you are committing to a plan that changes your life. It is a test that shows you how committed you are to your money dream. It is up to you to determine if you are going to pass or fail. When you jump the financial hurdles, you will notice a shift happens within you. The next time the hurdles get smaller and easier to handle. This is because you have developed the muscle to know how to strategize in order to pass the test. If you can solve that problem, then you will be able to solve other financial problems.

When my clients that have their first financial hurdle, they are anxious and some freak out. We work through it and create a plan that is reasonable. When the next hurdle comes up, its not quite as bad as the first one. Only because they have the skills handle it now. It is normal to have doubt when you are confronted with a hurdle along the way to your money goal. It is not OK to give up. Whether you are halfway through your journey or a couple months in, believe in your ability to overcome financial adversity through your plan. You have what it takes to make it through.