Gulf Winds Federal Credit Union Blog
Tips to Keep Motivation Up When Income Goes Down

Tips to Keep Motivation Up When Income Goes Down

Money has an inherent way of pulling emotional strings towards extremes. This means that emotional highs and lows are often made better or worse when money is involved. Unfortunately, when income goes down, it often leads to a lack of motivation, and lack of motivation only further continues a downward emotional spiral.

It’s important to be proactive when income decreases. Understand that adjustments may be needed, and be positive to keep your emotional well-being intact.


 Motivation Tips for Clearing the Hump

To stay motivated in periods of income imbalance or even crisis, take time to reassess your budget down to the smallest expenditure. Make adjustments and sacrifices wherever necessary.

  • Increase your income: Easier said than done, right? The truth is, many middle-aged adults settle into routine, and when long-held financial routines are broken, it can be difficult to adjust. Never feel uncomfortable searching for freelance, contract, or part-time opportunities to increase supplemental income and boost confidence.
  • Rework your budget: You'll be surprised how much money you spent on unnecessary things when you no longer have that freedom. Reworking your spending around a reduced budget can be an inspirational way to readjust your perspective. 
  • Goals and rewards: In light of an adjusted income perspective, and as long as the essentials are covered, every other purchase is unnecessary. That might sound a little too Zen for some tastes, but unnecessary spending isn’t bad if moderated. In fact, when you approach budgeting with a goal and reward mentality, establish a savings account, restrict spending, and reward yourself with occasional personal purchases, budgeting can even be exciting.


Remember, Stay Positive

As tough as times may seem in the moment, life goes on when income takes a hit. Regardless of your subjective situation, day-to-day activity will go on, and your attitude affects everything. Productivity systems rarely take emotions into account, which means even the most well-intentioned plans for reaching financial equilibrium again can be sidetracked by your emotional state. Stay positive.







Photo Credit: user 1001gece


Share on        


We’re giving our profits back to you.

Auto Loans
Free Checking
Credit Cards