When the end of a year comes, it is quite common for people to set new financial resolutions for the New Year.

Planning these financial New Year’s resolutions without getting frustrated can be difficult, especially since most people are overly demanding on resolutions.

Here are 5 smart tips to avoid the frustrating feeling of having a long list of goals and realizing that you’ve accomplished almost nothing. Check it out!

1. Stipulate possible financial New Year’s resolutions

If the goal seems too high or difficult to achieve at the end of time, try breaking the goal into smaller monthly chunks to make it more achievable.

It’s no use setting impossible goals: you end up getting frustrated at the end of the year when you can’t fulfill all your resolutions.

The further the resolution is from your current reality, the harder it is to motivate yourself to achieve it. For example, don’t make it a goal to buy a car or property that is completely out of your budget. If the risk of getting into debt is not enough, you can still get frustrated when you can’t reach that goal.

Therefore, be realistic and stipulate only possible resolutions.

2. Position goals in time

Not all resolutions are immediately achievable. Why not set short, medium and long-term goals? For example, if you intend to change careers in 2022 or even get a promotion, how about establishing the following resolutions:

• First, take a professional refresher course.
• Publicize your resume and look for companies that are looking for new employees.
• Finally, get the dream job.

This is a way to make financial New Year’s resolutions more achievable because then you look for the necessary steps to reach the desired result.

3. Be more positive to keep your financial New Year’s resolution

Positivity must be in all aspects of your life. Financial, emotional, family, academic; in short, in everything you do. One way to positively face the challenges and adversities that life presents you are to consider them as learning opportunities.
The more we go through difficult experiences in life, the more we grow stronger and learn to deal with similar situations in the future. If in 2021, you had to face a problem that is difficult to solve, you will probably be a person more prepared for the challenges of 2022. So, think positively and imagine the bright side of things. This new way of looking at life can yield good results.

4. Celebrate when you achieve the goal

One mistake people make is not valuing what they have achieved. When you manage to accomplish a goal, make a celebration. This celebration should not involve money but non-financial rewards. Some examples of celebrations include:

• choose a different menu for dinner,
• for those who like the outdoors, take a contemplative walk

This celebration is about doing something that gives you pleasure, which marks this victory.

5. Save and invest money

This tip is valid both now and in the future. Saving and making smart investments are essential measures to ensure a more fulfilled today and a much more peaceful tomorrow.

In addition to not knowing what unforeseen events we will have to deal with in the future (family illnesses, car maintenance problems, home renovations and others), we must always have an emergency financial reserve. The more we diversify and invest with the future in mind, the better our quality of life will be in the coming years.

So, think about the investment options that suit your budget reality and guarantee a more peaceful future, with less need for work and more time for leisure.

In conclusion

You’re not going to spend another year without fulfilling the resolutions you’re proposing, are you? Write down everything you want to achieve this new year, preferably in a visible place to remind yourself of your goals every day.

Maintaining financial health is very important to your overall well-being.