These 6 small changes will help you reach your money goals this year

These 6 small changes will help you reach your money goals this year


Hand women put coin in money jar with text.

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New Year’s resolutions tend to involve big, heavy goals like starting a side business or getting a real estate license – and that’s exactly why they have such famous sad success rates. In most cases, it is small, consistent and disciplined actions that yield large financial gains over time.

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The following is a list of small changes that the average person can realistically strive to make in 2022 and beyond to get closer to achieving their financial goals. It’s never a bad idea to dream big, but small habits will determine if they come true in the end.

Give up your urge to spend a withdrawal period

Impulse purchases are budget killers because they are inconsistent, unpredictable and often unforeseen. Reduce the waste of thoughtless spending by 2022 by introducing a wait-and-see approach for things that can wait.

“Start by setting spending rules, such as waiting seven days before buying an item over a certain dollar amount that is not absolutely necessary,” said financial security expert Pamela Yellen, a financial investigator, founder of Bank On Yourself and author of Two New York Times bestselling books. “You will be amazed at how often your urge to buy something will be dampened if you just wait a while to consider whether the item is really a need or a desire.”

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Plan your meals

Consumer analyst Julie Ramhold with DealNews.com advises that grocery prices are expected to continue to rise in 2022 after an already brutal year of food inflation. Shopping happens to only make things more expensive, but if you take the time to plan your meals and shop efficiently based on that, you save money while reducing both waste and the time you spend in the grocery store.

“If you are not planning meals, you should consider starting as it reduces the likelihood of resorting to takeaway or having trouble figuring out dinner plans after a long day at work,” Ramhold said. “If you’re planning food, you should also try to plan around the sale. By doing so, you are buying groceries, which are expected to rise in price in 2022, at their lower prices, which will help you save on your regular grocery trips. . ”

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Also plan your other purchases

If you know you need to buy a winter coat, a computer, a car or something else in 2022, plan ahead to pick your moment so you are ready to throw yourself out when prices are lowest.

“There are good times of the year to shop for most items, including big ticket purchases,” Ramhold said. “By making sure to shop those items at the best time, you end up saving more compared to if you buy exactly when you want. So, for example, Presidents’ Day sales in February are really good for mattresses and big appliances, while Memorial Day sales in May can be a great time to shop for clothes suitable for hot weather.And of course, Black Friday in November is a great time to shop for pretty much anything you can think of about.”

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Make monthly consumption reviews, and grab your biggest money pigs

It may sound hard to believe, but a few minutes every 30 days can mean the difference between whether or not you reach your financial goals.

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“Small changes lead to big results,” said Taylor Squeglia, a personal finance coach who specializes in budgeting and who recently dedicated a podcast episode to the subject. “The first small change should be to evaluate your spending monthly or quarterly. I encourage my clients to do this monthly and create goals based on spending. Another small change is to take a high expense category and cut it down a little at a time. For For example, if your groceries are a high-consumption category, evaluate what you spend weekly and see if you can cut it down by $ 30. That’s a small amount that leads to over $ 1,500 saved per year. “

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Power off

In November 2021, Barron’s reported a surprising change in energy pricing patterns. Instead of energy costs rising in the summer and falling in the winter, as they have done every year for 20 years, prices actually rose last winter in 2020-21. Now they are ready to do the same again this year, which, warns the publication, could bring serious problems for both investors and people on a budget. Save money this winter and beyond by reducing spending wherever you can.

“Lower electricity consumption,” said Daniela Sawyer, a personal finance expert and founder of FindPeopleFast. “Start saving on electricity and lower your electricity bills. Turn off the light when not in use. Use less power-consuming appliances. “

You can find comprehensive tips for energy savings on the Ministry of Energy’s Energy Saver website.

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Practice gratitude

Yellen cited studies that have linked a conscious practice of gratitude – such as writing in a gratitude journal for a few minutes each morning – with beneficial effects on people’s health, relationships, emotional well-being and career.

“But did you know that it also helps you become a strategic user? When we practice gratitude, we feel richer and more prosperous in every way,” said Yellen. “Our self-esteem is greater and we generally feel happy and grateful for many aspects of our lives. Because of this, we are less likely to crave material goods to feed an emotional need. And studies have shown that having a grateful attitude actually improves our ability to make good decisions. “

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About the author

Andrew Lisa has been writing professionally since 2001. An award-winning author, Andrew was previously one of the youngest nationally distributed columnists for the country’s largest newspaper syndicate, the Gannett News Service. He worked as the business section editor for amNewYork, the most widely circulated newspaper in Manhattan, and worked as the copy editor for TheStreet.com, a financial publication in the heart of Wall Street’s New York City investment community.

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