Achieving Your Financial New Year’s Resolutions

on January 8, 2019

Happy 2019! Do you make a financial New Year’s resolution only to watch it crumble by Valentine’s Day? Don’t feel bad. Most of us break our resolutions before we’ve finished the Christmas cookies. I want 2019 to be the year you succeed. Next December 31st, I want you to look back and see the progress you made toward your financial goals. Here are a few tips.

  • Create a concrete plan. Vague goals like, “I want to save more money,” never give you a sense of accomplishment because you can’t tell when you have been successful. Instead, try to save a specific amount each month. It both holds you accountable and lets you celebrate success.
  • Be reasonable. If you are saving nothing right now, you probably won’t be able to save a large portion of your salary each month. Set your sights lower, and then be determined to achieve it.
  • Break large tasks into smaller pieces. If you have a major goal for the year, try to accomplish 1/12 of it each month. • Resolve to take full advantage of any employer contributions to your retirement account. If the employer matches your contributions, try to maximize the match.
  • Don’t give up. When people aren’t successful, they lose hope and stop trying. The best way to achieve your resolutions is to pretend every day is New Year’s Day.

A new year is a great time to review your financial life and create a plan for achieving your goals. A year from now, you’ll be glad you did.

Be Prosperous! Peggy

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