Everybody makes New Year resolutions, but most of us fail to stick to them. With every start of a new year, we want to change our lives for the best, but because of lack of proper planning and genuine determination, we only follow the resolutions for a couple of weeks, and afterwards, we completely forget about them. But this year, it doesn’t have to be the same, does it?

You see, the trick to sticking to your New Year resolution is to come up with effective ways to follow them, even after the January bustle ends. Financial goals are, probably, the most popular ones. Thus, keep yourself motivated throughout the year by taking into account the following tips.

Sticking to your New Year Resolution

Set realistic goals

The first thing about resolutions is that we tend to set outrageous, slightly unrealistic objectives, which discourage us from even thinking about them. Thus, the key to accomplishing your goals is making sure they’re achievable and realistic. Set specific, measurable money targets.

Make a budget

Establishing a budget is the next step you need to take so that you manage to stick to your New Year Resolution of saving money. Budgeting will allow you to know how much you’re spending, and whether you’re spending more than you’re bringing in. When designing your budget, make sure to include household necessities such as the monthly rent, bills, commute, food and so on, as well as leisure activities such as shopping, eating out, travelling costs, and others.

Next, establish how much money you earn monthly. If you have fixed wages, it will be easier for you to settle that, if not, just set an approximate sum based on your salary from the last couple of months.

Keep track of your spending

As you track down your spending, you will realize where your money goes, something that perhaps missed your attention in the past. Keeping track of your spending will only show you that saving up small amounts of money can make a world of difference in the long run. Ideally, we recommend you consider to track your spending for at least one month, to observe your spending habits, and where a great deal of your money goes to. You will be surprised.

Replace habits, but don’t aim at eliminating them completely

As you realize that your habits make you spend a lot of money, you need to comprehend that you ought to replace them, as eliminating them won’t suffice. For instance, if a large amount of cash goes to eating lunch out, you need to start cooking your own meals. Buy groceries and plan your meals ahead, so that you don’t feel tempted to eat out. Just educate yourself and you’ll be successful in sticking to your New Year resolution to save money.