Over the past few weeks all of the media chatter about personal finance, government finance, and automotive finance (or lack thereof) has got me thinking about my favorite book, The Seven Habits of Highly Effective People by Stephen Covey. Or, actually to be slightly more precise, thinking about The Seven Habits of Highly Effective Teens by Sean Covey (Stephen’s son). In high school my mom gave me the teen version of the bestselling 7 Habits book and I dutifully read it and stored it on my bookshelf. During my junior year of college amongst a downward spiral (or path to self-discovery, however you want to look at it), I dusted off the teen copy while home on Christmas vacation and my life… changed. Re-reading the book actually sparked Makeunder My Life and consequently, my purpose.
In the book, Covey mentions we all have a “personal bank account” (or PBA). He argued that all of us have a figurative savings account inside our heads, that we make deposits and withdrawals from everyday. Whenever we do something we intend to do, like finish a project, complete a race, or be more positive, we are making a deposit into our invisible account. Likewise, whenever we don’t meet our expectations or goals, we withdraw from this same savings account. Covey maintains that the balance of that bank account is what gives us true self-confidence and trust in ourselves. That we draw upon past accomplishments to increase our strength and overcome current challenges. The more deposits we have, the more likely we are to follow through on future intentions, and vice versa.
So during this phase of insecurity in the stock market and job market, it seems that the one true account we can cultivate freely and with huge returns, is our own PBA.
Therefore, for the rest of May I am going to begin a little savings plan of my own. I will start with small goals which will hopefully help me to accomplish bigger, more challenging tasks, as my confidence accrues. I am going to let compound interest do the work. My first PBA deposit goal is to eat my vitamins daily. Sure, this may sound easy enough (because it is easy enough). But in my life, the worse my eating habits become, the less often I take my vitamins. So I would venture to say that by starting with something as simple as eating my vitamins, my overall diet will improve as well.
I mentioned this concept to Erwin and he decided to make flossing 3 times a week his first PBA goal. What about you? Any tiny goal you want to meet this May? Let’s check back in each week and see how our PBA’s are progressing, shall we?