Friday Catch-Up: How to Keep Your Financial New Year’s Resolutions

Many New Year’s resolutions are somehow related to financial goals. You may want to get a high-paid job, spend more on your summer vacation, or qualify for a quarterly bonus. However, to stick to such kind of resolutions is a tough call. The study shows that one in four resolution makers fails after the first two weeks. To improve your chances of success in 2017, try the carefully selected suggestions below.

ef1h5yttmz8-annie-spratt

Ensure that Your Resolution Is SMART

Everyone knows about SMART, but people rarely keep that in mind while thinking about how much they want to put on their savings accounts each month. Stephen Wendel, head of behavioral finance at investment research firm Morningstar, advises to “be a slightly pessimistic when setting your goals.” And we suggest that you give yourself a specific deadline and specify how much money you want to have on your account at the end of 2017.

Track Your Progress

Your goal should be measurable, remember? Creating a feedback loop is useful. You should study the monthly statements online or in the mail from your bank, calculate your expenses, and discuss your situation with a financial advisor. If it’s fine with you, discuss your financial goals with friends or family members. Sharing truly helps, as Cynthia Boman Thompson, certified financial planner and director of financial and accounting services at Cinder Finance, suggests.

Be Focused on the Main Important Financial Goal

You may hardly achieve many financial goals during 12 months. It is hard to pay off your mortgage, increase your savings, and finance your child’s education at the same time. So, focus on a single goal if you want to improve your financial life and feel the difference.

Use Your Surroundings to Help

Your environment can prevent you from reaching your financial goals. Have you ever thought about how much you spend at that mall nearby when shopping for groceries after work? It’s a good idea to limit exposure to situations when you may purchase something that you don’t need. Instead, keep yourself from temptation and change your route, e.g. shop for goods in a small shop near your office.

Get a free strategy session

Solve Financial Tasks Using Your Smartphone

Automating your financial processes will help you achieve your New Year’s resolution goal. Credit card issues, bank transfers, investment payments, and other operations can be done on your mobile device. John Norcross, University of Scranton psychologist, says: “Apps may help with this, at least in the short run.”

We recommend you to check out this review of the best smartphone finance apps for budgeting, saving, and investing if you use an Android device. The best mobile finance apps of 2017 for iOS are provided here.

You may also check out this 6 proven ways to make your financial life better in 2017 from Forbes:

Either way, people who make any kind of resolutions are 10 times more likely to successfully achieve their goals than those who don’t. So, keep your financial New Year’s resolution simple and believe that you can do it.

Best wishes for a happy, prosperous 2017!

P.S. And remember to reward yourself for your personal success.

Leave a Reply

avatar
200
  Subscribe  
Notify of

Recent posts

UK Tourism Market Research: Major Trends 2022

October 6, 2022

In 2022, the global tourism industry demonstrates an impressive growth boost, due to the industry recovery after the Coronavirus pandemic. The hotel and resort industry is estimated to jump from $0.72 trillion in 2021 to $1.06 trillion in 2022.

Powerful Link Building Strategy for eCommerce

September 13, 2022

There are numerous cases where boosting sites with links had little effect or even backfired on the site’s positions. Most part of the time, poor SEO link-building strategies are to blame. 

“The Back-to-School Campaign is not as Usual”: the Experience of the Largest Ukrainian Electronics Retailers

September 9, 2022

For retailers in different countries, the Back to School Season is no less significant than Black Friday or the Christmas holidays. 

Customer Journey Mapping for PPC Campaigns: How to Use It?

September 6, 2022

Digital advertising is on the list of the most popular marketing tools, the spending on which grows tremendously. In such a way, digital advertising spending reached $521.02 billion worldwide in 2021.

Get You Free Proposal

Please fill in this short form and we will be in touch with you soon

For any questions [email protected]

UK | USA | EST

+44 (0) 20 313 766 81
+44 7852 537715

Lincoln
The Terrace AT5,
Grantham Street,
LN2 1BD

+1 347 809 34 86

Las Vegas
6920 S. CIMARRON RD.,
Suite 100,
NV 89113

Tallinn
Roosikrantsi 2-K230,
Kesklinna linnaosa,
Harju maakond,
Tallinn 10119

Friday Catch-Up: How to Keep Your Financial New Year’s Resolutions

0
start now

Start now