Making Your New Year's Financial Goals Stick

What financial goals have you set for the new year? If you are like most people, your goals will include staying on top of bookkeeping, budgeting more accurately and saving more money. How can you make these goals stick after the shine of the beginning of a new year has worn off? Here are five easy ways to keep you motivated and on track with your financial resolutions:

1. Make your financial goals objective and attainable.

Like any other New Year's goal, you should be able to achieve your financial goals and know when you have achieved them. For example, a goal of "being more organized" is non-specific and you never really know if you have attained it. On the other hand, "balancing the checkbook every month" is specific and you know right away whether you have met the goal or not. Keep your goals focused and realistic for the best shot at achieving them.

2. Keep your list of goals handy.

If you make a list of your New Year's financial goals and file it away in a drawer, you will likely forget about them over the course of the year. Keep your goals visible, for example, in the front of your day planner or pinned to your office wall. If you have ongoing goals, you will be able to make sure that you are on track. If you have completed goals, you can stroke through them or check them off to give yourself a sense of accomplishment.

3. Attach small rewards for meeting your goals.

Make obtaining your goals fun. Set up small rewards for accomplishing each one. For example, if your goal is to pay off your credit card in six months, allow yourself an afternoon with a bubble bath and a good book. Or choose whatever makes you happy (and won't put you in debt again!). Taking time to enjoy your accomplishments will make keeping up with your financial resolutions easier.

4. Re-assess your goals every month.

Goals can change over the course of a year, especially financial ones. You may find that your goals were too easy or too hard. Your financial situation may change making it impossible to stick with your goal or making new ones necessary. Set aside time every month to assess where you are at with your progress and don't be afraid to alter your goals to fit with your new reality. Keeping your goals relevant is the best way to stay on top of them.

5. Take time to review and appreciate your progress.

Working towards financial goals can be difficult, especially if you are in a tough financial bind. Often, taking the time to look back and see how far you have come over the course of the year can remind you of the great work you're doing. If your goals include paying down debt, write down your debt balances at the end of every month and see how your debt is slowly decreasing and your net worth is increasing. Watch your savings account balance slowly climb. It may be hard to remember what you are doing and why when you are in the midst of the battle but looking back and seeing how far you have come will give you renewed energy to fight the good fight.

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