It’s the time of the year when people reflect over the past year and make new commitments and resolutions for the upcoming one. Saving more money and paying down debt tend to be at the top of people’s lists of New Year’s resolutions. Here are some ways for you to make good on your resolutions and achieve your financial goals:
- Set easier goals. The Association for Consumer Research reports that people who set an easy goal for themselves are much more likely to achieve the goal than those who set challenging goals or no goals at all.
- Create annual goals rather than monthly ones. The Association for Consumer Research reports that people who had already violated their monthly savings goal were more likely to make additional purchases than those who hadn’t. Setting an annual goal provides more flexibility to judge success or failure.
- Identify best practices. Find out how others have achieved goals similar to your own.
- Create action steps. Break down your goals into steps you will take to reach your objective, and include steps you will take to reach your objective, and include ways to respond to obstacles that you may encounter.
For additional information on budgeting, saving, and achieving your goals, visit Accel’s Resource Center at
http://www.accelservices.org/members/resources/resource-center.htm