So you made a New Year’s resolution involving finances, and it’s already fallen to the wayside.
We get it. Maybe you resolved to reduce your credit card debt, save for a home or build an emergency fund, or even something as simple as create and stick to a budget. You must live and breathe that commitment each and every day if you are to achieve it, but relax—it’s not that hard. Below are some helpful hints to help you keep your 2014 financial resolution:
Take Pen to Paper
Write down your goal. Insure that it meets the following criteria:
- The goal must be specific. What action will you take? “I will deposit $200 from each paycheck into my retirement account” as opposed to “I will save more this year.”
- Make sure it’s measurable. You must be able to measure whether or not you are on track.
- The goal must be achievable. Do your homework and ascertain if your goal is financially achievable.
- Make it realistic. If your job requires you to drive all over town to meet with clients, you don’t have any control over whether you can spend less on gas, so don’t make that your goal.
- It should be timely. Your goal must be stated in a way that holds you accountable to a time table. For example, “I will deposit $50 a month” as opposed to “I will save more.”
Now that you’ve set your goal, stay on track.
