It’s easy to make resolutions, not so easy to keep them. This is true for all resolutions, but especially financial ones. You can have all the enthusiasm in the world in January only to give up by Valentine’s Day.
The key for all resolutions is to set attainable, actionable goals. Don’t be vague and don’t aim too high.
Instead of “Pay all my bills on time to help build my credit score,” try “Set up automatic payments”
Life gets chaotic, and it can be tiresome keeping track of what gets paid when. Technology has made things so much easier though, and you can schedule your bills to pay on their due date automatically. Aspire members have Bill Pay access to set this up in one place, and you can can choose if you want to manually schedule it or automate it.
Instead of “Reduce spending,” try “Cut $X from my entertainment/grocery budget”
You can’t cut your spending unless you know how much you are currently spending and how much less you can/want to spend. Two categories that can often be easily reduced are entertainment and food budgets.
Instead of “Save more money,” try “Save an extra $50/month for my emergency fund”
This is another goal that can be exchanged for a different amount or purpose. But the idea is still the same: how much do you think you can save (probably based on what you’re cutting out of your budget) and where does it benefit you the most to put that money?
Instead of “Pay off debt,” try “Pay off $100 each month”
Reducing your debt is a great goal, but it’s not going to be easy to do. It’s best to have a set plan for payoff, and picking an amount each month is a great way to stay on track. If you have seasonal income, you could try setting a yearly goal, just remember to keep it attainable.
Instead of “Make more money,” try “Send out a few resumes each month”
In order to make more money, changes need to be made. This could mean changing your job, or finding a side gig. In order to do either one of those, you’ll need to put yourself out there.
Remember, set yourself up for successful! Staying on track will motivate you to keep going throughout the year.