Top Money Resolutions (And How to Keep Them)

Like turning a page in an annual calendar, January brings new opportunities—a chance to reexamine old goals and set new ones for the year ahead. Did you make any personal finance resolutions for 2022? If yes, how did you perform? Did your actions match up with (or fall short of) what you originally intended? Like many people, you may have made some unrealistic resolutions or didn’t work. And now, here we are again with another opportunity to make new resolutions for the year ahead.

So, what are your financial goals for 2023? It is helpful to spend a few days reflecting on how you have done with meeting 2022s goals. Then figure out ways to improve next year’s scorecard based on this reflection work. A recent survey by Ascent, a Motley Fool service, found that 66% of Americans intend to make a financial New Year’s resolution for 2023. Determining your goal is the first step to improving your finances—so let’s get started! If you are searching for financial New Year’s resolutions, here are some ideas to get you started.

Top Ten 2023 Money Resolutions

⚡Tracking Expenses

⚡Budgeting

⚡Spending Less

⚡Saving More

⚡Building an Emergency Fund

⚡Improving Credit Scores

⚡Paying off Credit Card Debt

⚡Contributing to an Individual Retirement Account

⚡Open a Managed Investment Account

⚡Learn More About Stocks & Investing

How to Keep Your Financial Resolution

Surprisingly, only 20 percent of people believe they can keep their resolutions. Setting realistic goals—like paying off a small portion of your credit card bill each month—is more likely to result in success than setting huge, lofty goals that are hard or impossible to reach.

The key is to start small and build momentum. If you have $5,000 in credit card debt, don’t try to pay it off all at once. Instead, pick a goal that’s within reach—like paying an extra $100 per month or $200 per paycheck toward the balance—and then focus on meeting that goal consistently over time. Seeing your progress growing over time will motivate you to continue making progress instead of giving up when things get tough.

If your financial resolution for 2023 is to learn more about personal finance & investing, HerFinIQ.com offers many free resources and exciting courses to help you! You can also follow @HerFinIQ on Facebook, Instagram, and TikTok—where Jessica entertains followers, making learning finance fun! Finally, check out Jessica’s “Her Money + Investing Show,” where personal finance and investing are fun and approachable to women of all ages.

We are so optimistic you can do this! Join the Her Financial IQ community and get more information on investing your money, getting out of debt, and living a life you love! No matter what your financial goals are, baby steps and attainable goals will help you achieve them.

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