The holidays are over. Now what? This is the time each year when we talk about New Year’s resolutions. Your resolution may be to lose weight, to get more sleep, to find a new job, or to spend more quality time with loved ones. What about financial resolutions?
Do you want to pay off bills and have more financial freedom? Do you want to get on and stay on a budget or improve your credit? Perhaps you want to buy a house, make sure you have enough money saved for retirement or for your child’s college fund. It could be any number of things but so often the resolutions we make come and go with little effect on what we set out to accomplish. Make this year different. This year, don’t make financial resolutions. Instead, set clear financial goals for yourself.
Start by writing your goals down. Writing them out makes you more likely to act.
- 1) Make them clear. What do you want to accomplish in the new year?
- 2) Post them where you can see them. Is that on your bathroom mirror? In your car? As the lock screen on your phone? Post them somewhere you will have daily access.
- 3) Remember to celebrate your successes. Do you have a bill that you have been wanting to pay off, or is having your emergency fund fully funded a goal for you? If so, celebrate when you reach your goals!
- 4) Stay focused. As the year passes, you may be tempted to abandon your goal list, but don’t do it.
- 5) It’s okay to update your goals, as needed. Even if an unanticipated challenge comes up throughout the year, remember the successes you have had, and keep moving forward.