The "Three R's" of Success
by Gregory Thomas
My Story: A Different Way to Budget
Simplify Your Budget
My Story: Budget Diet
Anyone, who has tasted success, has in some way or another taken into account the "three R's" - Review, Revise, Retry.
How do I know this? Reason being, nobody is perfect, so no one will be able to do a perfect, flawless job on the first attempt in anything whether it's for work or pleasure. This is nothing to be ashamed of, it's just a fact. We as humans have flaws and are imperfect. But our determination, creativity, and willingness to adapt, allow us to achieve the things we set our minds on.
What will determine your success in this budgeting/money saving journey will be directly related to the three R's: Review, Revise, Retry.
Purpose of Reviewing
Once you have designed and implemented your money-saving agenda for a couple weeks, take a moment to reflect on your progress. Ask yourself these questions: What seems to be working best right now? Is there something I know is definitely not working? What was the most positive result from my efforts? Do I have new ideas I'd like to incorporate into my plan?
The purpose of this reflection process is to analyze your efforts to date. Decide what has been positive and what may need revision. You will then be able to continue doing what works, and at the same time, get rid of the techniques that are not working.
It is imperative that you reflect on your progress to find what is working for you and not waste precious time on ineffective, useless practices.
Purpose of Revising
Once you have reviewed your progress, you may have a few ideas you would like to revise or start using. You may find that some techniques simply need to be adjusted so that they become more effective for you.
The revision process allows you to take mediocre techniques and turn them into effective money-saving methods.
This could be comparable to a writer who has just finished the first draft of a new book. This author is not about to ask a publisher to put this book "on the shelves" in stores. It has to be revised, edited, proofed, re-written, and finalized, in order to get the book as solid as possible.
Same thing goes for the money-saving process. You'll want to revise your plan discarding ineffective ideas and altering semi-effective techniques in hopes of improving their results.
Purpose of Retrying
Now that you have reviewed and revised your agenda and have a few different ideas you want to try out, it is now time to put those ideas into effect, hence the title RETRY. It is now time to retry your efforts and see if these changes make any difference and improve your situation.
You should be able to tell rather quickly if your revisions are helpful.
Keep in mind that these money saving exercises are new to you. Budgeting, saving money, lowering bills, nothing will be perfect the first time, so don't expect it to be.
Do you think Thomas Edison invented the light bulb on his first attempt? Of course not! There were dozens of failed attempts, but this learning process gave way to his success. He revised his methods and adapted to the newfound ideas and information. He was also not afraid to change his theory and models to make way for new beliefs and opportunities. Same goes for you.
Don't be afraid to make mistakes or be unsuccessful with certain money saving techniques. It's OK. It will happen. Point is, it's important to Review, Revise, and Retry whenever necessary. If something does not work, make the necessary revisions and try it again. This process is expected and it is a sign of someone striving for success.
Gregory Thomas is the editor of SavingSecrets.com
Share your thoughts about this article with the editor: Click Here
Trending on TDS
- Could social media be causing you to overspend?
- Save or pay down hospital bill? Video
- Frugal doesn't always mean getting the cheapest
- A financial safety net for single moms
- Why saving money doesn't have to be a drag any more
- How investing style changes over your lifetime
- 5 poor ways to save (and how to do better)
- What to do if your credit card rate goes up
- 3 steps to rebuilding an emergency fund
- 5 big bills you can cut fast
- Money-saving secrets of the rich and frugal
- Reduce your debt with this free debt course by The Dollar Stretcher
- Reduce your debt payoff time
- Find a better credit card rate
- Get better savings & MMA rates