Make specific, measurable goals
Instead of resolving to 'save more money', try setting a specific goal, such as 'save $500 by June' or 'pay off $2,000 in credit card debt by December.' Specific measurable goals give you something concrete to work towards and allow you to track your progress.
Create a budget
A budget is a crucial tool for helping you reach your financial goals. It allows you to see exactly where your money is going, and it can help you identify areas where you can cut back. There are many budgeting apps and tools available to help you get started. (Don't forget to download ITP's App with Receipt capture and Logbook to help assemble all your expenses in one place!)
Increase your income
If your financial resolution involves saving more, you may also want to increase your income too. Although it sounds obvious, many don't think about asking for a raise, starting a side hustle, finding a higher-paying job or even learning a new skill. If you don't ask, reach out or level up, you'll never grow!
Set up automatic savings
It can be easy to forget to save money, especially when busy. To help make saving easier, consider setting up automatic transfers from your checking account to your savings account. This way, you can set it and forget it, and you'll be on your way to reaching your savings goals.
It can be tough to stick to your financial resolutions on your own. Consider finding a financial planner, a tax professional, a bookkeeper or a trusted friend or family member who can help keep you on track.
By following these tips, you'll be well on your way to reaching your financial resolutions this year. Remember to stay focused, stay motivated, and don't be afraid to ask for help when you need it. Better still, contact ITP Qld today on 1300 555 773 or try our popular LiveChat to see how a professional can onboard your new year resolutions, permanently.