Like most Canadians, your plans probably include some financial goals like spending less, saving more and investing wisely.
However, sometimes this can be challenging and even with the best intentions your goals can get sidetracked.
Not to worry, here are three smart and simple tips to help bring your financial goals back on track.
- Set S-M-A-R-T goals (Specific, Measurable, Achievable, Relevant and Time-bound)
Rather than saying “I want to save more money” say, “I will save $100 per month in my RRSP.” SMART goals are easier to implement, measure and are much more likely to get completed!
- Make them automatic.
Life happens. Distractions pop up all the time. By setting up automated savings, payments or transfers — you’ll ensure that these distractions don’t get between you and your goals. If you have to think about it, there is a chance you’ll forget about it.
- Check-in every month.
Follow-up is important. Comparing your actual performance with your goals gives you a chance to make corrections before it’s too late. If you’re on track — checking in and finding success is a great way to keep yourself motivated for next month!