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By Nicole Spector, GoBankingRates featuring Samantha J. Garcia, CFP®, AIF®, CDFA®, Wealth Advisor at Halbert Hargrove

As we prepare to welcome in a new year, many of us are making resolutions focused on money. According to a survey from The Ascent, a Motley Fool service, 66% of Americans are planning on making financial New Year’s resolutions.

But inflation is an intimidating force to be reckoned with. According to the survey, 81% of those with financial resolutions think inflation will make it harder to meet their goals, and just 20% are confident that they will keep their financial resolutions.

This all prompts the question: How can we make a financial resolution and actually stick to it? Here is what financial experts recommend.

Be Specific About What You Want, and Why You Want It

“The two keys to success are being clear about your priorities and choosing a particular goal,” said Kyle Kroeger, an entrepreneur and finance expert at The Impact Investor. “Set aside some time to think about what you really want to achieve with respect to your money and financial situation and be specific.”

Make It Realistic

“If your goal is to start saving or investing, and you’ve never done it before, don’t set the bar too high,” said Taylor Jessee, CPA, CFP, a financial planner at Impact Financial. “For investing, a realistic goal may be to try to save a certain dollar amount each month or year. An unrealistic goal would be to try to double or triple your money that year. That’s not investing; that’s gambling. Is it possible? I suppose so. But it’s not very likely you can or will.”

Make It S.M.A.R.T.

“Consider adopting the S.M.A.R.T. (Specific, Measurable, Achievable, Relevant, Time-bound) goal-setting technique when planning your resolutions,” said Rebecca Gramuglia, consumer expert at TopCashback.com. “By putting more thought and mindfulness into your goals, you’re preparing yourself for a better chance to succeed. Make sure you create goals that are measurable within a specific time frame — example: save $1,000 by March 2023 — along with a reasonable action plan to meet them.”

Write It Down — and Keep It in Plain Sight 

“Make sure your goals are written down and posted somewhere you’ll see them all the time,” said Samantha Garcia, CFP, AIF, CDFA, a wealth advisor at Halbert Hargrove. “If you write them down in January and don’t check until December, it’s easy to lose track of them and lose sight of what you’re doing. Writing them down keeps you accountable because now that’s on paper, whether you use pen and paper or computer notes. By printing and putting them where you see them, you’re more likely to keep your goals in check regularly.

“You should also add a monthly calendar reminder to check in on your financial goals. The regular notification during a time you are not busy will help remind you about staying on track.”

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