Financial goals are topping the list for many Australians this time of year, but whatever your goals or new year resolutions, here are some practical tips to get you started and maintain the momentum.
1. Let the big resolutions inspire you but start with what’s reasonable
Thinking up a ‘reasonable’ resolution may not sound as exciting as going for that gargantuan goal, but reasonable resolutions are often more achievable and tend to be a sure step in the right direction towards those bigger dreams and goals.
Task:
Write down your biggest resolution. Ask yourself: is it reasonable? Who could help me achieve it? What is the first step I need to take?
If your goals sound scarily big, or tasks feel daunting, consider breaking them into bite sized chunks, or reframing them as something more manageable.
2. Focus on habits and consistency
Behaviour change – whether financial or otherwise – happens with consistent, regular practice.
Task:
Identify something you’d like to change and take the first small step. If it’s to rein in your spending, start by tracking your expenses for a single day. If you’re starting a new exercise routine, prep your running gear the night before, or phone a friend to meet for a walk.
3. Celebrate your wins
You don’t need to wait until you’ve reached a big, long-term goal to celebrate.
Task:
When you act towards your goals, celebrate your efforts with a reward, however small. It could be an early morning surf, couch time with a good book, or coffee with a friend.
In brief, success comes when you do what you can and focus on regular, consistent action, celebrating wins along the way.
If you’ve had trouble sticking to new year resolutions in the past, place your effort this year into trying something different.
May your new year be happy, healthy and prosperous!
If you’d like a financial health check for the new year, call us on (02) 9913 9995.
