Making a New Year’s resolution is a fun way to positively change your life, whether it’s getting organized, losing weight or saving money. But according to research, approximately 80% of resolutions fail by the second week of February.1 Now that April is underway, it’s a good time to assess your progress and think about your game plan moving forward.
If you vowed to get your finances in order in 2017, you’re not alone. In fact, one of the top New Year’s resolutions each year is to spend less and save more.2 While saving money may seem easy at first – as the months go by, you may notice your resolve begins to fade. Here are two tips to stay on track:
- Reevaluate your approach to saving money. You may find that what worked for someone in the past may not work for you. If you notice you’ve been slipping … get back up and reconsider your approach! Your map toward success should not be set in stone, but rather adjustable according to your circumstances. Resiliency is vital – especially during these first few months!
- Measuring your progress is paramount. Not only does it serve as a source of motivation, but also it calls for reflection. Seeing how much money you’ve saved over time is a reminder of your hard work and dedication. It also indicates if you’re hitting a peak or falling backward, so that you can adjust your efforts accordingly. Tracking your growth each month will increase your odds of success and not to mention – if you don’t measure your finances, you can’t spot change!
As 2017 unfolds, celebrate your victories, but be compassionate when you slip up. You don’t have to wait for a New Year to start again … tomorrow’s a new day!
1. Businessinsider.com, “80% of New Year’s Resolutions Fail by February — Here’s How to Keep Yours,” January 3, 2017
2. Time.com, “8 Clever Money-Saving Tricks to Try This Year,” January 1, 2017