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12 months of saving: Is your New Year’s Resolution SMART?

Another New Year is upon us. For many Americans that means creating resolutions for the upcoming year. Chances are those goals have something to do with money. Saving it. Spending it wisely. Paying down debt. However, if you didn’t have a plan in place on how you were going to achieve those resolutions, they could already be crumbling.

If you are saving for a specific reason, make sure it is S.M.A.R.T. (specific, measurable, attainable, relevant, and has a time frame to be achieved.)

• Specific. Having a clear goal can really help make the goal a reality. “Save money” is fine, but making a goal to “Save 10% or $100 each month” really helps to define it.
• Measurable. Make a plan with achievable milestones. Milestones are a perfect opportunity for check-ins and progress updates. To see what is working well and what needs tweaking. It is also an important step that keeps you motivated towards the goal and doesn’t let it fall off the radar.
• Attainable. Be realistic. Goals should be challenging, but attainable.
• Relevant. Why is the goal important to you?
• Time frame. Goals are usually something we want now. Don’t let “want” speed up your time frame.

With only 8 percent of people keeping their resolutions, it’s important to give those financial goals as many opportunities to succeed as you can. Setting and achieving S.M.A.R.T. Goals is just one of the ways Numerica can help take the stress out of managing your money. Opening a savings account or setting up an automatic withdrawal each month are easy first steps to achieving your goal. Make your goal into a reality by putting your plan into action. 

12 months of savings January

Today's Rates

January 19, 2018

Certificates

as high as 1.50% APY

Visa Rates

as low as 9.24% APR

Mortgage Rates

as low as 4.00% APR

Auto/Truck (New/Used)

as low as 2.74% APR

Sequel Checking

1.35% APY

Home Equity Line of Credit

as low as 4.75% APR

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