Weight loss and Financial goals are very similar, meaning that it is easy to lose control and hard to get out of trouble. But, there is something else that needs to be factored in as well, setting rewards for goals that you set.  Pay off a credit card, take your wife and kids out to dinner or to a movie, but don’t use your credit card, save for it. Lose 10 pounds, reward yourself with your favorite treat.

Why do this, for psychological reasons for course. We need rewards, it is human nature. So, when you complete a major milestone, reward yourself.

My first reward is an iPhone 4s. What did I do to deserve this? I will have paid off almost the entire balance of a credit card and I was able to get the price reduced with my carrier to $110, instead of the normal $650 fee.  See how setting rewards for goals can pay off?

Remember, setting rewards for goals is important.  It is important not only for your psychological benefits, but it can also be used to motivate you to work harder and ultimately reach your goals faster.