5 Steps to Refresh and Revive Your Financial Resolutions

June 11, 2018

Welcome to the halfway mark of 2018! Now is a great time to pause and reflect on how far you have come in achieving your financial resolutions and evaluate what you can do better. Are you on track with what you set out to do this year, or do you need a little nudge to get back on your way? Use the following steps to help get you there:

  1. Focus on what’s been working. Have you created a budget, worked on your retirement plan, or started discussions about saving for your family’s education? If you’ve set up a regular contribution to your savings or consistently paying off debt, keep it up! Celebrate these successes and challenge yourself to do better.
  2. Assess what’s not working and why. Are your goals clear, achievable, and aligned with your values and actions? Huge changes are hard to sustain and can cause us to default back to old patterns. Make small, incremental changes that are well anchored. The sturdier they are, the longer they will last.
  3. Recalibrate. Whether your goal is to save money to fund your retirement or pay down debt, if it’s not happening fast enough you always have options. A good financial plan will help you to evaluate those options and assess what actions you can take to achieve your goals and attain better results.
  4. Set up reminders. When you can see the end result in sight, it becomes that much clearer and easier to get there. Review your goals regularly and track your progress to remind yourself of what you have achieved and the motivation behind your sacrifices.
  5. Seek extra help. If you feel like you’re lost or not on track, consult a professional to help you get there. An advisor can assist you in creating a realistic plan, monitoring it with you, and helping you to see the bigger picture. Knowledge is power and it’s a big step toward understanding and achieving your financial goals. Assessing how all aspects of finance effects your plan – whether it is budgeting, tax, estate planning, investing, risk management – is important.

Remember – strive for progress, not perfection. Celebrate how far you’ve come and arm yourself with the motivation and skills to achieve what you set out for this year.


Katie Carveth

Cattelan Private Wealth Counsel Team