5 Tips to Boost Your Financial Resolution

Financial Resolution 5 Tips To Boost - Every year get out of debt or save more money always makes it to the top of the Financial New Year’s Resolutions list, and every year very few keep their financial resolutions.  Are you in this predicament?

If so, here are 5 tips to give your financial resolution a boost!

5 Tips to Boost Your Financial Resolution

5 Tips to Boost Your Financial Resolution

1. Take an honest look at yourself and see what is holding you back.  Why haven’t you been able to save money, or pay a certain debt off, etc.?  Has there been a life change?  Have your priorities on this changed?
   
   Or have you simply forgotten about your resolution until reading this blog post :-)?
   
   
2. How important to you is it?  Rank it on the Urgency Scale.  Between 1-10, 1 being least urgent and 10 being most urgent, where do you fall?
   
   
3. Make a plan –set a S.M.A.R.T. goal.  Always keep these wise words in mind: “A goal without a plan is just a wish.”—Antoine de Saint-Exupery.
   
   Change your resolution into a S.M.A.R.T. goal: Specific, Measurable, Attainable, Relevant, & Timely.  Here is an example: Save $600 by December 31, 2021, for an iPad by putting $100 monthly with an automatic transfer into the savings account.
   
   Write it down, thinking about it is not enough!  Also, make sure you can answer each of the categories, see below:
   
   • Specific?  Yes, $600.
     
     
   • Measurable?  Yes, with the automatic transfers.
     
     
   • Attainable?  For this example, we already checked and there was $100 extra to save monthly.
     
     
   • Relevant?  For this purpose let’s suppose you have wanted this iPad for a while :-).
     
     
   • Timely?  Yes, there is a deadline.
   
   
4. Press the RESET button.  Remember your sense of urgency and make a conscious decision to do this.  There are still 6 months left. You have a plan in place to start NOW.  If you cannot honestly make a conscious decision to move forward go back and dwell deeper as to what is holding you back.
   
   
5. Plan how you are going to celebrate once you accomplish your goal and set the money aside to do this. It is important to celebrate your accomplishments but do this wisely.  In this particular example, the iPad can be the celebration itself.
   
   However, if you paid off a credit card, treat yourself to a manicure/pedicure, a massage, or anything you enjoy doing. This can be a motivation to getting this accomplished.

Keep Moving To Your Financial Resolution!

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