With the New Year spirit still fresh in the air, everyone around you has probably talked about some of their goals for 2024. And you’ve probably set some New Year resolutions yourself. But have you considered financial resolutions as well?
Simply saying ‘spend less’ is out and ‘save more’ is in doesn’t mean your habits will change overnight. But we’re here to help you implement change and reach your financial goals.
So, here are 4 essential things to do to get the most out of your 2024 financial resolutions.
1. Set your financial resolutions now
The New Year is a temporal landmark. Meaning it’s a time when everyone has a shared energy of starting fresh and being dedicated to creating goals and improvements.
By setting your financial resolutions now, you can capitalize on the shared momentum that society is experiencing right now and be more motivated towards your future goals.
2. Dream big, but plan realistic
We’re all big dreamers here. And that’s fantastic! But when setting goals, don’t become entirely unrealistic. Goals should be challenging yet still attainable.
For example, if you’re only investing €100 a month, don’t decide you’ll start investing €700 every month immediately. Instead, make that a goal you can work towards by increasing your monthly savings amount by €50 every month until the end of the year.
This leads to our next essential financial goal tip, which is…
3. Make your 2024 goals SMART
Having measurable goals is a great way to track your progress, keep you accountable, and help you feel more motivated and dedicated. The SMART methodology is one of the best and most popular ways to track your financial goal progress.
SMART stands for Specific, Measurable, Attainable, Relevant, and Timebound. This methodology helps you move closer to your goals by guiding and improving self-organization.
So, what does setting a financial goal look like in real life? For more details on how to set up your financial resolutions the SMART way, check out this article.
4. Celebrate the small wins
Setting a long-term goal for the year is fantastic (good job!). But you’ll need small celebrations along the way to keep you motivated and consistent in your new habits.
A simple way to do this is to break your big resolution into smaller goals with subsequent milestone celebrations.
Small milestones on the journey toward your end goal are a great solution. It gives you something to be proud of and an opportunity to see how far you’ve come. It also helps motivate you to continue working hard to reach your big 2024 goal.
With these four tips and a can-do mindset, we’re sure you’ll turn your big dreams and goals into a reality. Here’s to manifesting your financial success in 2024!