As a new year begins many people start creating their elaborate plans of change, yet we know that often these goals we set don’t even make it past January before we fall back into our old habits. The reason is that the goals are too big and elaborate.
Research has shown that you have a higher chance of achieving your goals if you place a real value on them and believe that you will find meaning from the change that will come from achieving this goal. Don’t just choose goals due to what others think or advise you to do. Your goals should be what you want and be realistic targets that will have positive benefits for you in the long run. This is very true for your financial goals.
We all can have multiple goals written down at the start of the new year, but a key part to having these goals become a reality or anyway successful is by putting a clear, easy-to-understand plan of action into place.
It’s important to be realistic. Setting yourself goals that are specific and manageable can give you the best chance of success. Rather than just having goals like ‘to save money’ as this is just a vague aspiration, instead define the goal into a plan. This could be to save €50 a week for the month of January which you will use to book your holiday in 2022. By putting a bite-size and specific plan into action this will make your goal feel more manageable and rewarding.
Psychologists tend to value resolutions that can be reviewed often and changed if needed. For example, if you save €50 every week for the month of January, it is best to review this plan at the end of the month and see what changes you might want to make for February. At the start of planning each month, you should take into account any of the upcoming challenges or high expenses for that month e.g. birthdays or expenses like insurance payments, and plan to overcome them. This way you can take these obstacles into account and make alterations to your plan so that you don’t fall off track. In other words, take it slow and take one bite at a time.
Importantly, don’t be afraid to ask for help. Many people find getting support can be a key part of achieving their new year plans. Whether it’s advice to help you meet your fitness goals or if it is financial advice to help you achieve your financial goals.
We all can do with a little helping hand when needed to keep us on track. If you want to set and achieve some money goals this year then feel free to reach out to us here at Employee Financial Wellness to provide you with friendly, easy-to-understand advice and guide you on your financial journey.
Whatever your new year’s goals are, it is good to keep in mind that it is okay to slip up and make mistakes. Just pick yourself up and try again. Be kind to yourself this year.
