How can you actually follow through on your plans to better manage your money; spend less and save more? Here are 3 ways to help make your money resolutions stick
- Clearly define your goals.
Define what you want to achieve. Do you intend to save a certain amount of money each month? Do you want to buy something very expensive in a few months? Set your goals and make sure that they are very specific. Do not just say that you want to save some money or make some money; write down a number that you know that you can manage each month and make sure that it has a deadline; a few months or year when you should have reached it.
Do not give up when you fail to reach your goal and do not turn your relapse into an excuse to give up. Recommit and have patience.
- Don’t Ignore the ‘Little’ Things
How often do you hear people say they can’t afford to do something yet choose to spend money on other ‘little’ things; incrementally. Whether, you choose to eat take away food, go to events where taking a gift is required, meet for drinks with friends or buy the latest fashion this is a little money slit that you can mend.
These ‘little’ things that you want to indulge in are also the little things that get in the way of your managing your money. Make your money resolutions a priority and make sure you put in a weekly money audit and get on top of things.
- Stop Talking Yourself into Spending
Do you ever think, “Well, I might as well get a new pair of shoes since I already got the suit?” Or, “I have no time to make a sandwich in the morning so I’ll just buy some food from the supermarket.” Do not talk yourself into doing things that are avoidable and detrimental to keeping your money resolutions.
If you have a financial emergency and can’t put as much money aside in one month, just put in what you can. The bottom line is any effort towards your goal is better than no effort.