6 Proven Tips for Achieving Financial Goals in 2023

_{By Bromwich+Smith Staff | 1070 words | Reading Time: 5 minutes and 21 seconds | Date: 2023/02/16}

Every year, we set goals for ourselves, where we want to be in our personal life, our career and what goals we have for our finances. Some years we succeed, and others our financial goals are derailed, or put on the back burner.  Saving money and paying off debt are often two of the top ten resolutions for Canadians over the past decade, and they are goals you shouldn’t give up on.  

So, what’s the trick to make these financial resolutions stick? First, let’s identify these financial goals, and understand the importance behind them. Setting goals will guide you in how to successfully obtain the results you are looking for, rather than the idea of a resolution in which so many deem impossible to achieve and ultimately give up on.  

We know that the supports and accountability around you are equally important in the end goal. Make sure your goals are reasonable, and have measurable accountabilities. Lets examine some steps to help you achieve the best results and Keep your financial goals on track.   

1. Set a goal that resonates with you. Achieving goals can come down to how realistic it is. For many the idea of loosing a set amount of weight is great in theory but when you look at all the steps, and changes needed to achieve that dream number it may not be realistic. When it comes to a financial goal, think of what a realistic goal is. You may not be able to conquer all of your debt on your own but by setting goals you can achieve you will want to continue the growth.

2. Think Positively.  Instead of telling yourself that “I’m bad with money, or I will never get out of debt,” a more positive approach would be to say, “I’m able to make smart money decisions 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. By putting the negative out into the universe, you will continue to believe it. Lets focus on the things we do well, and how those things can help up make small steps towards our goals.
   
   I am a hard worker. I can save $50 this paycheque. I can pay off this debt in 6 months. I can accomplish my savings goals.
    
3. Take small steps. Change takes time, patience, stability- and real change comes from many small decisions that add up to something greater. Make small habits a part of your identity, and over time these will help you get closer to your goals. If you often grab lunch at a drive thru, or food court try making lunch instead of eating. That $10 a day habit quickly adds up. Maybe switch to a different brand at the grocery store, order a medium coffee instead of a large or only online shop when there is free shipping offered. Small changes wont make a huge impact on your day to day living but can add up to big changes over time.
   
   If you don’t visit the coffee shop one day this week make sure to make note of what you do with that $5 savings. Over time, that $5 grows into something more impactful. While you may not see a change with $5/ week, what could $260 in a year do? What if you were to double that and not pick up a coffee twice a week? You now have $520 saved up. Now imagine you stop picking up coffee and make it at home. Over a year that is over $1300 saved. Imagine how much you can save by making other small financial changes. 

4. Focus on the growth.  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, and 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. It is ok to not be perfect, and to need time to reach the end goal. Set yourself up for success by having check ins. See where you are progressing, where you are stalled and refocus when needed.
    
5. You aren’t alone!  We often think we need to struggle with debt alone, but in reality there are people and programs available to guide and support us. Consider a budget planner, which will allow you 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. There is no one perfect tool that works for everyone and every situation. Some people like to write things down, others like to talk through the scenario with loved ones. Find what works for you through trial and error, and keep making great steps towards success! Talk to someone who can support you, that can be a financial planner, debt relief specialist, or a trusted friend.
    
6. Lather, Rinse, Repeat: If you don't see the results on the first try, keep in mind that good things are yet to come and sometimes it takes time. This is a matter of persistence and consistency so keep trying as many times as necessary. To reach that version that you deserve financially, it is practices and the addition of those little new habits that will make a difference.

Know that you deserve financial relief. It is never too late to find a solution and have an action plan for those problems that become opportunities to grow and be what you want so much. It’s not always easy to keep your financial goals, but taking small steps, towards big change will help clear those financial obstacles.

 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.