At some point in your life, you have probably set some goals. It’s typical at the beginning of the year for people to set personal goals which could include their finances as well. Just like every other goal, sometimes it’s hard to keep the energy running. The peculiar thing with financial goals is, one little emergency can disorganise the whole thing. One bad debt can throw the whole thing in disarray. Sometimes, it doesn’t even have to be emergencies or debts, we can just become discouraged, the adrenaline may run out and the whole thing starts to feel unnecessary.

We’ve all been there, haven’t we? That moment when the excitement of New Year’s resolutions fades into the frustration of seemingly stagnant progress. It’s like trying to run through quicksand; the harder you try, the more stuck you feel. Let’s look at what you can do when you start to struggle with your financial goals.

The Reality Check: What’s the Issue?

First things first, let’s pinpoint where the issue is. Is it an income issue? Or perhaps it’s the spending. Identifying the bottleneck is crucial; it’s like knowing whether your car needs gas or a new battery – the solution depends on the problem.

Sometimes, it may be hard to point out what the issue is. But it’s okay to list out possible causes, you can trim it down along the line. Sometimes it may be just one thing, and it could be many things put together. What’s more important is that you should do your best to pinpoint where the problem is coming from. That way, you will know where to channel your energy and fix the issue.

Fix it

Once you’ve identified the hiccup, it’s time for a strategy session. This isn’t about drastic cuts or unrealistic expectations; it’s about smart, sustainable changes. 

For example, if you discover the problem is coming from one or two emergencies that scattered your plan. Then, to prevent a recurrence, you know you have to start saving for emergencies. If that’s not the case, maybe you’re just discouraged out of the blue. It happens to the best of us, and here’s what to do. In this case, you need to validate your feelings, there’s nothing wrong with you, and this is entirely normal. You just have to go back to the reason why you created those goals in the first place. If you have outlived those reasons, then maybe you should create another strong reason.

You don’t have to force it or rush it. Take your time and see the magic play out. You could also speak to someone you know can motivate you, so you can get yourself back on track. It could work too.

Motivate and Celebrate Yourself

It’s easy to feel pumped about your goals in January, but by March, the sofa often seems more appealing than the savings account. So, how do you keep the fire burning?

Celebrate the milestones, no matter how small. Did you stick to your budget this week? That’s a win. Managed to save a little extra? Great! It’s about recognising progress, not just the end goal. 

This may not look like anything serious, but you can try it and see how it makes you feel. Having credit card debts you paid in full deserves some accolades too. You just finished a consumer proposal program? That’s a milestone. For all these wins, celebrate them, so you can have the strength to achieve more.

You Don’t Have to Go Solo

Remember, you don’t have to tackle this alone. Whether it’s a financial advisor, a like-minded friend, or an online community, having someone to share your victories and setbacks with can keep you accountable and encouraged.

For example, if part of your financial goal is to pay off your credit card debts and payday loans. If you see yourself struggling and acquiring more debt in the process, you should speak with a debt consultant at EmpireOne Credit. You will get the assistance you need. Rather than carry the burden all alone, you could get some help, and there’s absolutely nothing wrong with that.

Bottom Line

The path to your financial goals isn’t a straight line; it’s a winding road with detours and roadblocks. Sometimes, life will not be fair on you, and that’s okay. The key is to adapt, not surrender. Adjust your goals, timelines, or strategies as needed, but keep your eye on the prize.

Struggling with financial goals is more common than you might think, and it’s not a sign of failure but a part of the process. It’s about taking it one step at a time.

If you’re confused about your debt and overwhelmed by it, you can speak with our debt experts at EmpireOne Credit. Your debt can be reduced by up to 80%, and interest will stop immediately. Call us at (416) 900-2324 to schedule a free consultation with us. Being debt-free feels good!