At the end of one year and the beginning of the next, many individuals and businesses set New Year’s resolutions. Some of these are to live healthier, others are to spend more time with the family, but many of them are about getting finances in order.
As a certified public accountant in Reno, I think it is great to have finances on your list, but there are things you need to consider.
The first piece of advice that I have is to be reasonable. Do not set a goal that you know you will never obtain. You need to have thought about what it will take to reach your financial goal, and make sure that it is something you can do. If you realize that your resolution may be a stretch, then it is a good idea to scale back. It will be better for you to have a goal that you know you can reach.
Write It Down
Do not just spew your goal out at the family’s or office’s New Year’s Party, write it down. You need to have your goal in writing. There is a different level of commitment when you write your resolution down. This will allow you to keep your resolution in front of you, whether you post it in the car or on your bathroom mirror.
Make a Plan
Now that you have a reasonable resolution written down, you cannot just forget it. One way to make it easier to reach your resolution is to create a “to do list” or a “map” on how to get there. If your resolution is to have a certain amount in savings or to pay off a part of your debt by the end of the year, than you need to make a plan of actions on how you can reach those goals. As a certified public accountant in Reno, I think planning is an essential step.
My last piece of advice is to share your resolution with someone and then provide support for each other. Find a family member or friend that you trust and let them know what your resolution is. In turn, have them share theirs with you. This provides some support when you start drifting away from your resolution. Together you stand a better chance of reaching your resolutions than if you tried to do it on your own.
As a certified public accountant in Reno, I like to see New Year’s resolutions that are based on finances. Have a wonderful year and best of luck with your resolutions.
Reno’s Best CPA,