Make a Decision
In order to create a new financial reality, you must decide to do so. A decision is a formal declaration that you are committed to changing your finances. When you make a final decision, you must eliminate any excuses that will keep you from reaching your financial goals.
Take Consistent Action
The key to experiencing financial success is taking consistent action. It is difficult to reach any goal if you take action only when it is convenient. Most people are excited about setting goals, but get distracted during the process of achieving them.
If you decide to start an automatic savings plan, set up scheduled transfers from your paycheck to your bank account. In due time, you will reap the benefits of your consistent action.
Devise a Plan
One of the reasons people do not reach their financial goals is they do not have a plan. It is not enough to want to be free of debts or have a lot of money.
You must develop a plan that will get you to your destination. Each day, you need to know the concrete actions you need to take to reach your goals.
After you develop a plan, you must implement it daily. This plan will serve as a formal guide to help you stick to your financial goals.
Develop New Habits
People who have strong financial portfolios have developed good money habits such as investing, saving and conscious spending.
If you have developed ineffective money habits, it will take time for you to change them. There is truth in the saying 'old habits die hard'. Be persistent. Developing new habits will change the way you manage money.
Turning your finances around in 2016 will take time, persistence and effort. It will challenge you, but the rewards will be worth the effort.
Jonah Engler is a financial expert from NYC.