I recently attended an alcoholic’s anonymous anniversary for a good friend. It was an open meeting and all were welcome. It was great to support my friend and his journey to recovery. As I drove home from the anniversary it occurred to me that love and support shown to him and the other members at the AA meetings was truly amazing. That this type of support is crucial to their success, attempting to quit drinking on your own would be difficult, but surrounding yourself with people with similar stories, problems, and goals helps make it easier. I by no means am attempting to make a comparison between quitting alcoholic and getting out of debt, but I’m about the overall support concept. Personal finance blogs offer those similar stories, problems, and goals we all face when trying to get our financial house in order. Can the support group format work with personal finance?
We have been repaying debt for over three years, 3 long years. We are roughly 11 months away from being debt free. I want to look at the things that keep me motivated in the pursuit of my personal finance goals. Writing post for my blog keep me thinking about my personal situation all the time. I read many other blogs and books looking to increase on knowledge. I try and help family and friends with their personal finances if they are willing to listen. I listen to a number of podcast as well. I can’t help but smile ever time I hear someone on the Dave Ramsey show tell their story about how they became debt free and yell they are debt free. I can’t wait for my family to experience that feeling. Last, but certainly not least is teaching my children not to make the same mistakes my wife and I have made. They will have such a head start making better decisions at a young age with money. As you can see a lot of these are done on my own or with immediate family, but still keep me highly motivated.
The concept of a mastermind group is fairly new to me. I first hear about them on a recent podcast. I now understand they were developed over 75 years ago by author Napoleon Hill. I’m truly fascinated by the idea, couple with my recent support experience at the alcoholic’s anonymous anniversary I think a mastermind group would be a great experience. I’ve looked locally and have not found any groups near by. I have been thinking of starting my own. Overall I think the support, accountability, and brainstorming, possibilities of a mastermind group could be endless with the right mix of people. Could a personal finance mastermind group work?
What keep you motivated? Have you ever been a part of a mastermind group?