Already Behind on Your New Year’s Resolutions? Here’s How to Get Back on Track

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It’s natural to falter on New Year’s resolutions. Read on for ways to meet your goals despite some initial hiccups. [[{“value”:”

The start of a new year is a great time to establish different goals, whether they’re financial or health-related in nature. But if you’ve been faltering on your New Year’s resolution so far this year, well, it happens.

Many people set goals with the best of intentions and don’t realize they’re setting themselves up for failure. So if you’ve already fallen behind on your resolutions, you may want to take these steps to get back on the right path.

Step 1: Make sure your goals are realistic

Maybe one of your goals this year is to boost your savings account balance by $10,000. That’s a great resolution to work toward. But if you bring home a monthly paycheck of $3,000 and $2,500 of that is already earmarked for essential bills, then a $10,000 savings target doesn’t seem so doable unless you somehow boost your income. And while you could get a side hustle to make that happen, if you’re already maxed out time-wise, it may not be feasible.

In a situation like this, what might happen is you stop making an effort to save money after a few weeks because you feel frustrated that your goal is so difficult to meet. So now would be a good time to reset your expectations a bit.

Maybe aiming for $5,000 in savings in 2024 is more realistic. If that’s a more palatable number, you may be more inspired to spend carefully and live frugally to make it happen. But you don’t want to put yourself in a position where you’re giving up different things you love only to still ultimately fail at meeting your savings target.

Step 2: Prioritize your goals

It could be that in 2024, you want to boost your savings, pay off your credit cards, lose weight, travel to see friends you haven’t seen in years, and start a side business selling baked goods. Yikes. Accomplishing all of that is a tall order.

If you’re falling behind on your New Year’s resolutions, it could be because you’ve taken on too many. So instead, set priorities and perhaps commit to only one or two goals this year. That way, you’ll be able to better focus without getting overwhelmed.

Step 3: Think small, not big

Whether you want to save $10,000, pay off $6,000 in credit card debt, or lose 30 pounds, these are all some pretty daunting numbers. So rather than focus on big numbers, focus on smaller ones.

Break your goals down into monthly objectives. It’s easier to wrap your head around the idea of paying down $500 worth of debt than $6,000. Also, if you set smaller goals, it’s a good idea to celebrate smaller wins along the way, as that’s really important for your morale.

If you’re already behind on your New Year’s resolutions, you’re probably in good company. But since we’re only in February, it’s definitely not too late to redirect yourself and get on the right track. And if you follow these tips, you may find that you’re in a much better place with regard to your goals by this time next month.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has positions in Target. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy.

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