Tips for Sticking to Your Financial New Year’s Resolutions

Studies show that only 8% of people stick to their New Year’s resolutions. If you resolved to save more money, pay off a debt, or improve your credit report, achieving your goals can be tough.

But, with a little hard work and determination, you can reach and surpass all of your 2017 New Year’s resolutions. Just follow these five tips from American Investment Planners, LLC:

Set SMART Goals.

Don’t set yourself up for failure by setting bad goals. Vague or unrealistic resolutions are far less likely to succeed than goals which are SMART:

Specific: “save more money” is too vague. How much more?

Measurable: how will you keep track of your progress?

Attainable: goals should not be impossible to achieve.

Reasonable: does your current income allow for your goal?

Timely: every goal should have a deadline.

Strength in numbers.

Everything is easier when you have someone by your side. Recruit a friend or family member to help you reach your goal -- even if you just need them to talk you out of splurging.

There’s an app for that.

There is no shortage of apps designed to help you achieve your financial goals. Whether you need assistance budgeting, investing, or simply keeping track of your spending, there’s an app for that. Check out this list of recommended apps from Business Insider.

Automate your transactions.

The number one factor in your credit score is your payment history. Don’t give yourself a chance to miss a payment; enlist in automatic withdrawals so your bill is always paid on time. Conversely, you can also set up automatic deposits into your savings account, so the money is put away before you are tempted to spend it.

Consult with a financial planner.

Even with all of the technological help available, nothing beats sitting down face-to-face with a professional financial planner. The qualified advisors at American Investment Planners have decades of experience helping people just like you achieve their goals. From your first job, all the way through retirement, we want to be by your side.

To schedule an appointment with one of our consultants, please call (516) 932-5130 or email info@americaninvestmentplanners.com.