At the end of every year, we often create our own list of resolutions that we hope to achieve in the new year. Resolutions can be personal or professional and are often centred around personal development. It’s important to think of resolutions as an opportunity to learn something new about yourself or to hold yourself accountable for healthier behaviours.

Financial resolutions are not uncommon for many Canadians. Whether you’re looking to streamline your family’s budget or working on alleviating personal debt, the new year is the perfect opportunity to truly start fresh and adopt better spending and saving practices.

Don’t know where to start? Here’s how you can begin to stick to your financial New Year’s resolutions.

Find Debt Solutions That Work for Your Situation

Everyone’s financial situation is unique, which means there may not be a universal rule or process that can be applied to every Canadian’s debt troubles. The good news is that there is a spectrum of resources that you can choose from, depending on the amount of debt you have.

In some cases, consolidation is key. Consolidation is where you would get easy loan in Canada through an alternative lender so that you can pay off your high-interest debts, and ultimately you’re left with a single monthly payment.

On the other hand, you may be able to utilize a resource like a budget app if you have a good track record of holding yourself accountable.

Learn How to Budget to Zero

The idea of budgeting to zero can teach you the habit of giving every dollar you earn a purpose. As soon as your paycheck arrives, you would assign your expenses and every remaining dollar — whether that’s to savings or a specific bill. This technique can help you understand the value of your spending.

Set Up Auto-Payments

When you’re on the go, it can be difficult to remember to pay every bill on time. Instead, consider setting up auto-payments. When your paycheck is deposited into your account, your bills and savings will be automatically taken care of, so you can feel comfortable knowing your necessities are covered, and you can see what you have leftover.

Set a Monthly Reminder to Check Your Budget

Holding yourself accountable is one of the key qualities to adapt if you’re going to stick to your resolutions. Life can become overwhelming and hectic, so you may need to resort to setting a monthly reminder and set aside time to comb over your budget and your spending habits over the last 30 days. Doing this repeatedly can help you realize where you may be overspending and give you the opportunity to make better choices in the upcoming months.

Give Yourself Grace

In many cases, being too hard on yourself about your spending can lead to greater impulse purchases. Financial planning is a life-long commitment, so there’s no sense in punishing yourself if you’ve had an off month. The ability to give yourself grace and recognize that you are human will allow you to make sound decisions going forward.