12 Financial New Year’s Resolutions To Make, To Keep
New Year’s resolutions are a great way to start the year on the right foot. If you want to achieve financial success in 2023, setting goals and resolutions can help you get there faster than ever before. Today, we’ll delve into New Year’s resolutions and discuss how to set yourself up for success with these financial New Year’s resolutions.
Let’s dig in!
Why is setting New Year’s resolutions important?
Setting New Year’s resolutions helps to set realistic goals for the year ahead. Without specific targets to aim for, it can be all too easy to let financial success slip through your fingers. Also, by setting resolutions, you are more likely to stick to your financial plan and make positive changes in your spending and saving habits. This provides you with the opportunity to reflect on the previous year and identify areas where you could have made better choices with your money.
Most popular New Year’s resolutions
- Save more money
- Get out of debt
- Spend less time on social media
- Eat healthier
- Exercise more
- Quit smoking
- Lose weight
- Learn a new skill or hobby
- Spend more time with friends/family
- Get a better job
How to set financial goals for the New Year?
Unfortunately, there is more to realizing your financial New Year’s resolutions than just deciding on a goal. Before committing to your goal, read these success-proven tips!
Determine what you want to achieve.
Start by thinking about what you want to achieve financially in the next 12 months. Save for a down payment on a house? Build up your emergency fund. Be specific about your goal. The more specific you are, the more likely you’ll know what to aim for.
Set realistic goals.
It’s important to be realistic when setting financial goals. If your goal is too ambitious, you’ll likely get discouraged and give up. Figure out how much you need to save each month from reaching your goal, and then create a plan about how to do it.
Automate your savings.
Once you’ve determined how much you need to save each month, set up automatic transfers from your checking account to your savings account.
Even when it’s tough, it’s important to stick to your savings plan. Review your progress regularly and adjust your plan as needed, but don’t give up on reaching your goal!
Don’t forget to celebrate small wins along the way – this will help keep you motivated and make reaching your goal even more rewarding in the end.
12 financial New Year’s resolutions to set now
It’s never too early or too late to set a goal for your financial benefits. Whether it’s 1 January or 12 June, here are a few ideas to help you build a secure financial future.
- Create a budget and stick to it
- Get your spending under control
- Start saving for retirement
- Pay down your debt
- Build up an emergency fund
- Invest in yourself
- Automate your savings
- Stop impulse buying
- Improve your financial literacy
- Cut your living expenses
- Have an annual/monthly/weekly review of your finances
- Learn about investing for the future
CVF Credit Union can assist!
Most importantly, remember that you are not alone! We are here to support you on your financial journey. These are just a few ways in which we can assist you:
- Free financial counseling
- A comprehensive online resource center
- Various products and services to help you manage your money
- A membership program
Statistics show that only 9% of people accomplish their New Year’s resolutions. So why would this be any different for you? With the right plan and a little persistence, anything is possible!