Everyone wants to set big new goals that start on January 1. But when it comes to money, the start of a new year might not be the best time to make a resolution. You’ve just completed a year’s worth of financial transactions, and especially after the holiday season, your wallet might be feeling a little drained. It can be difficult to make heads or tails of your finances after a month and a half of parties, food, and other indulgences.
Instead of making a financial resolution for the new year, set money-related goals each year on your birthday. Your birthday is a time of year when your ambition is high—you’re reflecting on the past year’s achievements and can see lots of possibility in the year to come. So after you blow out the candles and put away your party hat, spend some time reviewing your finances and setting some goals—large or small, they’re all important!—for your money.
Once you have a goal or two for the new year, write them down somewhere you can refer to often. Whenever you pay bills or consider a large purchase is a good time to check in with those goals and see if you’re on track.