Recommit To Your Goals in February

You may be experiencing February fatigue if the momentum you had in January has waned. If you are falling short of your new financial goals, it’s not too late to turn it around. Use these tips to get back on track:

  • Review your goals and stay motivated to reach them by being specific. Name your goal, state a dollar amount, and create a timeline (for example: Purchase a new car, saving a down payment of $3,000 before June 1st). Create a subshare account specifically for your goal and automate your savings.

  • Boost your savings with a savings spree! For an entire month, save a dollar amount that matches the calendar day. On day 1, move a dollar into your savings account. Day 2, move two dollars. Continue each day increasing the dollar amount. By the end of the month, you can potentially increase your savings by $465.

  • Stay on track in paying down debt by automating the process. Set up autopay for things like your credit card, car loan, or mortgage. With on-time payments you can avoid late fees and build your credit score.

  • Boost your credit score with a review of your credit report. Errors on your credit report may have a negative impact on your ability to get a loan. Get a free copy of your credit report through If you see an error, dispute it with the credit reporting company (Experian, Equifax, or Transunion). The Consumer Financial Protection Bureau (CFPB) offers instructions and template letters that you can use as a guide.

  • Make an effort to learn more about money. Listen to podcasts, read articles, and/or follow personal finance experts. Take advantage of workplace financial wellness programs. A positive learning experience can increase the expectations you put upon yourself and your desire to reach your goals.

Once you are back on track in reaching your goals, set monthly check-ins with yourself. Review your spending, update your budget, and re-visit your goals as a reminder of what you want.

Like what you see? Sign up to receive the free Financial Wellness newsletter.

(February 2024)