People make financial resolutions but most of them don't achieve them due to some of the mistakes they make with their finances. Below are some tips that will help you attain your financial goals.
1. Take financial records
Before making decisions on how much money you need to save, record your earnings and how much you spend on expenses like food, transport, and rent. From this point, you can now decide on how much you need to save each month.
2. Know your debts
Take time to calculate your current debts as this can help you make priorities on your debt repayment plan. Writing down your debts gives you the best perspective on where you stand. You can organize your debts by interest rates and balances to start trimming down your debts.
3. Create a realistic budget
Making a realistic budget enables you to attain your goals. Never budget more than you earn as this may make you fall into debts. Set boundaries that you know you can stick to.
4. Track your daily spending
Once you have a view of your financial situation, you need to track your daily spending. For instance, if you spend more than you earn, you need to know where the extra amount spent goes. If need be, you can save the receipts or note down the expenditure.
5. Set goals
Set goals that are manageable, measurable and specific goals which you can be able to achieve. Put down all your goals on paper and then break them into weekly or monthly goals.
6. Confide in a friend
Sharing your financial goals with a friend can make you achieve them easily. Take a trusted friend to be your accountability partner.
7. Celebrate your success
Staying true to your resolutions is one of the hardest things to do. Appreciate your small successes by rewarding yourself as this will motivate you to work harder than you had been doing.