Motivation, Focus, and Feelings in a Time of Financial Turmoil

It’s easy to get distracted in times of financial stress.

Disctractions Dominate

Over the last few weeks, I’ve spent a lot more time reading the news. Maybe too much time. I’ve spent this time with full knowledge that reading the news does nothing to help me achieve my individual goals. Ok, maybe understanding what is going on in the financial markets could help one make better financial moves, but given my time horizon—30+ years to retirement—I should be able to set my asset allocation for the year and go fishing.

In times of crisis, in my opinion, focus and persistence feel like the best response. I wish I had proof of this strategy, but I don’t.

Doing What you Say Your Going to Do

I think it’s important to do what you say your going to do. This means you shouldn’t try to do too much. It also means that you need to find a way to stay motivated to persist. I think the best way to do this to remind yourself why you do what you do. For larger goals and commitments, this assumes you know why you’ve decided to do something. It assumes that your life is something more than circumstance and a random walk into the sunset. When you plan to do what you say you’re going to do—that is, build credibility over time that you can make specific things happen—you are more careful about what commitments you make.

In Searh of Trust

I’m not talking about moral commitments here, although that would be an interesting discussion. I am strictly talking about secular matters of money and mortgages, credit cards and contracts. Let’s not forget that the foundation of our financial system is built on trust, or the likelihood that you will do what you say your going to do and repay the money you borrow, show up for work and be compensated for your time, and be a good steward of the assets and environments you manage on behalf of others.

Feelings Matter Less, Priorities and Right Actions Matter More

In times of crisis, priorities matter even more. Your feelings matter even less. Why? The actions and activities that bring results may feel good, or they may not. When you focus on results, how the act of achieving feels matters less than doing what it takes to reach milestones that take you steps closer to achievement. Feelings do matter, I’m just saying that when your focused on results, you need to often rise above your feelings and do the right actions to make progress.