From Resolutions to Real Results: Boost Your Personal Finances With Action

Gopesh Sharma Gopesh Sharma Follow Jan 09, 2023 · 5 mins read
From Resolutions to Real Results: Boost Your Personal Finances With Action
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You’re at the beginning of a new year, and like most people, you’re thinking about your resolutions. This year, forget about vague plans to “save more” or “spend less.” Those never seem to work, do they? This year, take specific and measurable action to boost your personal finances. Financial resolutions are common among people, like saving more money or spending less but they never work.

Rather than resolutions, we have to create actions like cancelling the subscriptions not used in recent pasts to save money. Whatever the financial intentions are, we have to create a goal and then create an action plan for it.

Moving Beyond Resolutions: Goals and Action Plans

Making financial resolutions at the start of each year is a tradition for many people. But if you’re like most, your good intentions often don’t work. This year, try something different: Set goals and create an action plan to achieve them.

Rather than making a blanket resolution to “save more money,” break your goal down into smaller, more manageable steps. Figure out how much you need to save each month to reach your target, and set up a system that will help you stick to it. The key is to take action—and to keep taking action until you reach your goals. So forget about lofty resolutions this year, and focus on real results.

Say your goal is to reduce the expenses then the actions can be something like below:

  1. Cut unnecessary expenses: First look at the expenses, from your budget that you don’t need and see if you can eliminate them. For example, you might be able to cut back on dining out, subscription services, or non-essential shopping.

  2. Shop around for deals: When you need to make a purchase, take the time to shop around and compare prices. You might be able to find a better deal on the same product by shopping at a different store or buying online.

  3. Negotiate bills and fees: If you have regular bills, such as a cell phone or cable plan, consider negotiating with the provider to see if you can get a lower rate. You might also be able to negotiate fees, such as credit card or bank fees.

  4. Use cash instead of credit: Using cash can help you stick to your budget and avoid overspending. Consider using cash for smaller purchases and reserving credit for larger expenses that you can pay off.

These are some of the actions which you can take to reduce the expenses.

Top Ways to Enhance Your Finances Right Now

There are plenty of ways to boost your personal finances, and they all start with action.

But before you can take any action, you need to have a plan. That might mean sitting down and creating a budget, or coming up with a savings strategy. Once you have a plan in place, the next step is to take action. Here are some top ways to get started:

  1. Cut back on unnecessary expenses and save that money instead.
  2. Negotiate a better deal on your car loan or mortgage.
  3. Invest in yourself by taking courses and learning new skills.
  4. Make a list of your debts and prioritize them by interest rate or repayment amount.

Prioritizing Your Finances: Budgeting, Tracking, and Saving

So you’ve decided to take your finances this year. That’s great! But where do you start?

The first step is to create a budget. This means figuring out what your monthly expenses are. Like what you can afford to put toward savings, investments, and other financial goals. It’s not an easy process, but it’s one that will pay off in the long run.

Once you have a budget in place, it’s important to track your spending. This way, you can see where your money is going and make adjustments as needed. And finally, make it a habit to save at least 10 per cent of your income each month. This may seem like a lot, but it’s one of the best ways to secure your financial future.

Find Affordable Alternatives to Cut Costs

When it comes to your personal finances, finding ways to save money can be difficult. However, by looking for affordable alternatives to the things you need, you can cut costs and improve your financial situation. For example, instead of going out to eat every day, you could cook at home. This would save you money on food and dining expenses. You could look for less expensive ways of entertainment, such as going to free concerts or museums.

There are many ways to save money on everyday expenses. If you find affordable alternatives to the things you need, you can improve your personal finances and reach your financial goals.

Develop a Financial Plan and Stick to It

If you find yourself struggling to stick to your financial resolutions, try enlisting the help of a friend or family member. Having someone to hold you accountable can make all the difference. You can also seek out professional help from a financial planner or counsellor. No matter what you do, don’t give up on your financial goals. With a little effort and perseverance, you can get your finances on track and achieve your dreams.


When it comes to your personal finances, don’t be afraid to get down to business. That means taking action, instead of relying on New Year’s resolutions that are bound to fizzle out. The small steps or actions can make a big impact and after a year you can see that your actions have shown results.

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Written by Gopesh Sharma Follow