Did you make New Year’s resolutions this year? Were they related to your financial health and well-being? As we finish up the first month of 2015, many of us seem to have abandoned our resolutions, but that doesn’t mean you can’t reinstate those resolutions, and secure a healthier financial life. Here are some helpful ways to keep your financial resolutions in the New Year:
- Set specific, measureable, realistic, and attainable goals! Creating a broad goal like paying off all debt, or just simply saving money is a recipe for failure. Making goals like saving $200 per month or $5,000 this year are more attainable and easier to maintain.
- It’s important to figure out how much you can actually save per month. Calculate your monthly costs and income to figure out a number that you can put away and still be able to live day to day.
- Revisit your goals often and adjust as needed. Every so often, it’s important to take a step back and see how you’ve been doing with meeting and maintaining your goals. It’s important to adjust your goals as needed, to ensure you can actually reach them.
- Review things like your 401(k), meet with a CPA, and review retirement plan contributions to help ensure a financially healthier life beyond the New Year. There might be things you can be doing that will help you save more money.