Conquer Your Financial New Year’s Resolutions

New Year, same resolutions. If you’re like most people, this most likely means promises of regular gym sessions, healthier eating or better time management. We all commit to these things with the intention of seeing them through all year, but unfortunately our dedication usually ends not long after the champagne toasts are over.

This doesn’t have to be true for your financial goals! The beginning of the New Year is the perfect time to re-evaluate your financial situation. Before tackling your goals, it’s important to analyze your current financial situation and then set clear, realistic and measurable goals.

A recent study of financial resolutions found that 74% of Americans realized at least 50% of their goal in 2014, while 29% achieved their financial goal completely. Among study participants considering a financial resolution over the last three years, the top three resolutions remained consistent

  1. Save more (55%)

  2. Pay off debt (20%)

  3. Spend less (17%)

So, where’s a good place to start?

  1. Looking to save more? Set a clear number of how much you want to have saved by the end of the year.

  2. Trying to lower your debt? Build a realistic battle plan of how you intend to chip away at your debt and improve your credit.

  3. Want to spend less? Come up with a monthly budget that you can stick to and maintain throughout the month.

One of the best ways to keep your resolutions on track is to work with an experienced financial advisor who can help you develop a realistic budget and spending plan, allocate your investment assets based on your goals and risk tolerance, and develop a long-term plan aligned with your needs, goals and lifestyle preferences.

If you’re unsure where to start, Achieva’s Certified Financial Counselors can help! This is a FREE service that we offer to Achieva members, so now’s the best time to take advantage and get on track for your New Year’s financial goals. We also offer free seminars that are open to anyone who wants to improve their financial health.

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