883116134fface2bf6482f0e34032aef - Create a New Year's resolution that's guaranteed to last!

As the new year approaches, it brings the opportunity for fresh starts. Are you prepared to make a powerful New Year’s resolution?

Eliminating debt, adopting new spending habits, or building savings are choices that can have a transformative impact on your life. They can influence your overall well-being, from reducing stress levels to improving physical and mental health. The new year is a perfect time to commit to improving your financial health.

1. Create a Road Map: Establish a Goal (and Write It Down)

Goal setting provides you with direction. By determining your desired outcome and developing a plan to achieve it, you take a significant step towards success.

  • Goal setting is correlated with higher achievement and self-confidence.
  • When you write down your goal, you increase your chance of success by 42%.

2. Clearly Define Your Desires and Motivations

Clarifying your priorities and setting specific goals are crucial for success. Chris Dlugozima, a former FinanceMaster financial counselor and now one of our learning experience designers, recommends setting aside time for self-reflection. Ask yourself three questions: What do you want to achieve? When do you plan to achieve it? Why does it matter to you?

He advises being highly specific when setting financial goals.

  • Specify the exact amount you want to save, pay off, or earn.
  • Set a deadline for yourself.
  • Write down your reasoning and connect your goal to your personal life.

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