Spend less, save more, pay down debt — make 2022 the year you stick to your resolutions. We have compiled a list of tips to help!
Set measurable goals
Don’t just resolve to be better with money this year. Set realistic, measurable goals to help you stay on track and ensure you’re making progress. To make it easier, keep your goals SMART:
Creating a budget can take some time and lots of number crunching, but the real challenge of managing your money is spending mindfully. When you actually think about what you’re purchasing you have better control of your dollars. Know what you are buying and how much you’re paying for it. Gain a little more awareness about your spending by staying off your phone while completing in-store transactions.
Partner with a friend
When we have to answer to someone, we’re more likely to stick to our resolutions. Choose a friend who’s in a similar financial bracket as you and has a comparable relationship with money. Ideally, your friend will also have the same resolve to set and stick to the financial resolutions.
To make it even easier, use our money management tool My Money Manager to help track your spending and identify your weak areas in order to stay accountable to your friend.
Write it down
In an era when people can go for days without touching a pen and paper, writing down New Year’s resolutions can seem obsolete, but that doesn’t mean it shouldn’t happen. The act of putting your financial resolutions in writing will help imprint them on your memory. Plus, you’ll have a list of your resolutions to refer to throughout the year which will keep you on track.
Sticking to your financial resolutions isn’t easy. Follow the tips outlined above and make 2022 the year you get your finances in shape.