New year, new financial goals; how to set money goals you’ll actually stick to
It's that time of the year when we dust off our ambitions and set new goals. If you're eyeing your wallet and thinking, "let's do this," you're in the right place. Let's chat about how to set money goals that aren't just resolutions but a roadmap to financial success.
Get Real About Your FinancesNo more sweeping things under the rug - take a good look at where you stand. What's your income? What are your monthly expenses? Understanding your financial landscape is key to setting money goals you’ll actually stick to.
PrioritiseLet's talk about priorities. What financial goals matter most to you? Whether it's crushing debt, building an emergency fund, or finally taking that dream vacation – prioritise what matters most to YOU.
Break It DownBig goals can be intimidating. Break them into bite-sized pieces. If you aim to save $5,000 this year, determine what that is per month or pay.
Be Specific"I'll save more money" is like trying to hit a bullseye blindfolded. Be specific. "I'll save $100 every month" is a clear target. Specific goals are easier to aim for and celebrate when you hit them.
Automate the Good Stuff Set up automatic transfers for your savings or investments, and use a budgeting app or tool to keep track of your spending and savings. This will help you stay motivated and identify areas where you can cut back and save more money.
AccountabilityShare your goals with someone you trust – a friend, a family member, or even an online community. It always helps having someone else on your team, cheering you on.
Celebrate the WinsEvery step forward is a victory. Celebrate it. Whether it's paying off a credit card or resisting that impulse buy, acknowledge your wins.
Setting money goals that you will actually stick to requires a combination of realistic goals, tracking your progress, rewarding yourself along the way, and staying committed. While it’s great to set clear money goals, don’t forget to also prioritise things you enjoy, everything is about balance.
If you’d like some help setting goals to get you into your dream home, drop me a line and let’s chat!