January is a time for fresh starts, resolutions, and goal setting. Resolutions notoriously fail so what can you do if you are heading into the New Year committed to making progress in your finances?
One thing at a time - instead of trying to accomplish everything at once, pick one task and focus on that. I also recommend making this a specific task. Some examples could be contributing 3% more to your 401k, saving 10% of your income, increasing your life insurance, or reviewing your will. Once you are comfortable with that item you can choose another task to focus on.
Small Changes - Big drastic lifestyle changes are hard to maintain. We tend to deprive ourselves and then give up and go overboard. Take little steps towards positive change. If you want to spend less on food, pack lunch one more time each week instead of eating out. For those looking to be more educated, choose one article to read each week.
Set up Accountability - Look for a friend or professional to help you reach your goals. Share your goals with a friend so that they can check in with you and keep you accountable. Hiring a financial planner to be your financial life coach will allow you to look at all of your goals and create a plan to reach them.
While January is the month society focuses on for fresh starts every day is a chance to start again. If your plans to make changes in January don't happen, rethink, replan and start again. On the path to progress we may take a wrong turn, don't give up and turn around, correct your direction and keep moving forward.
Kate lives in Hornell, New York with her husband and two children. Go to Kate’s Bio for more about her.