Many of us fail to keep up with our New Year’s Resolutions for one reason or another. We say we’ll do something more or less often, or we’ll be better with this or that. While you might stay on track for a few days, weeks, or even months, we all tend to fall off the wagon at some point. To avoid this, consider making your resolution a measurable goal that’s really meaningful and important to you.Your finances are a great place to start! Check out a few of these ideas for a place to begin.
SET A GOAL…
1. Get rid of your debt. Tackle your credit card debt head-on! The longer you have a balance, the more interest you’ll gain, and you’ll essentially end up paying back more than you spent in the first place. Dedicate a chunk of your paycheck to paying down this debt, and contribute as much “extra” money as you can.
2. Save more. It’s important to keep money set aside for any emergencies that may arise to avoid digging yourself into a debt hole. Instead of making a mental promise to do this, go ahead and make it happen! Set up your bank account to automatically deposit a small amount of each paycheck into an account where you’re less likely to spend it.
3. Keep yourself organized. Keeping a budget is a great way to see where your money is going. You’re less likely to overspend when you allocate where your funds go each month. The more specific you can be, the better! You’ll be able to save more and spend less, and your money will ultimately go to where it matters the most.
… AND STICK TO IT!
1. Measure your progress. Keep track of where you are in relation to where you want to be. Set milestones for yourself along the way to keep yourself motivated and on track.
2. Have an accountability partner. Check in with a friend that has similar goals in mind. This person should be dependable, supportive, and available. It can often be easier to keep a promise or stick to a goal when you’re not strictly depending on self-discipline.
3. Be patient. Change doesn’t happen overnight. Take small steps to work towards your end goal, and little changes will turn into bigger ones!
What goals do you have for the new year? How do they differ from resolutions you’ve made in the past?
