How to Keep Your Promises
Here are some tips from Money Management International, a consumer credit counseling agency, on meeting a financial goal:
• Be specific and realistic. Don't just say you'll save more; you have to have a plan, not just a promise. Set a clearly defined goal that's within reach.
• Make a budget. This is a key part of meeting your New Year's resolution. Track your expenses for a month to identify areas where you can cut back. Include savings and paying down debt in this budget.
• Develop a long-term approach. For example, if your target is to save $2,500 for the year, plan to put away $50 a week. This will help you create a realistic budget that you can meet.
• Write down your goals. It's easier to follow what you put in writing. You may want to post your goals where they'll be seen every day.
• Don't give up. You will have periodic setbacks. "Once you have decided what you want to accomplish, be confident," said Cate Williams, vice president of financial literacy for MMI.