Keeping Your Financial Goals


Keeping Your Financial Goals

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By Bromwich+Smith Staff | 670 words | Reading Time: 3 minutes | Date: 2022/02/01

It’s the end of January; do you know where your resolutions are? It’s a common phenomenon that new year’s resolutions don’t stick, no matter how good your intentions. That’s because it’s tough to make changes, especially when you approach them like a sprint and not a marathon. But saving money and paying off debt have been two of the top ten resolutions for Canadians over the past decade, and it’s certainly not something to give up on. So what’s the trick to make these financial resolutions stick? First of all, let’s call them financial goals, as the process of goal setting helps you choose where you want to go better than a lofty resolution can. 

According to James Clear, author of Atomic Habits, the habits you develop and the systems you set in place for reaching your goals are more important to focus on than the goals themselves. Following the advice in Atomic Habits, here is how to make (and keep) your financial goals for 2022, by building goals and systems for making progress: 

  1. Tie your goals to your identity. Achieving goals successfully is about tying your goals to your identity. This is a powerful way to actually start to make the permanent changes that we need to make. This is about not starting with the outcome to get to the identity, but starting with the identity to get to the outcome. 
  2. Make a mantra. Instead of saying, “I’m bad with money, so I’ll start saving to be better,” an identity-based approach would be to say, “I’m a money master, and I will start managing my money to be able to pay off my debt.” If you tell yourself that you’re bad with money, bad at saving, or spend too much, you will accept these stories as facts. Behind every system of actions is a system of beliefs, so it’s important to shift how you look at yourself, otherwise your old identity will continue to sabotage your goals.
  3. Take baby steps. Change takes time, and real change comes from hundreds of small decisions that add up. Make small habits a part of your identity, and over time these will help you get closer to your goals. Every good decision adds up, from making lunch instead of eating out, to saving $50 per month instead of saving nothing, these small choices make a big impact. Think of it this way: if you get just 1% better every day, you’ll be well ahead by the end of the year.
  4. Focus on the process. A goal is not enough. It’s the processes that will get you to where you want to be. Start with repetition, not perfection, and focus on building habits that will help you meet your goals. Look at how your daily habits are getting you closer to your goals, and focus on building that habit every day. You might fail some days, but that’s ok. It’s important to keep going, and especially after a failure. People change bit by bit, day by day, habit by habit. 
  5. Use tools to help you reach your goals. The last, but perhaps the most important piece of advice, is to be aware of your current expenses and spending habits. This ensures you can create financial goals that are realistic for your circumstances. Our budget planner helps guide  where you want to go as the act of tracking your income and expenses will bring awareness to your current financial position and allows you to create a monthly or yearly budget. 

It’s not always easy to keep your financial goals, but by making small shifts that are both progressive and impactful, the pay off will be very worthwhile. If your debt is getting in the way of making (and keeping) your financial goals, this is a good time to talk to a Debt Relief Specialist to understand what your options are to conquer your debt and rebuild your worth. Reach out to Bromwich+Smith for a free and confidential debt relief consultation, with no obligation. Call us at 1.855.884.9243 or use our online form


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