Making New Year’s resolutions is a great way to motivate yourself to reach your goals — but keeping those resolutions isn’t always easy.

The secret? Set goals you can reach. These financial resolutions are attainable and can help keep you motivated through 2024.

Make a budget (and stick to it)

Creating a budget is like giving your money a roadmap. It helps you understand where your funds are going and empowers you to make intentional financial decisions. Start by listing your monthly income and fixed expenses, then allocate specific amounts for variable expenses and savings. Keeping it simple ensures it will feel manageable and not daunting.

How to keep it:

To stick to your budget, regularly track your spending against your plan. Embrace technology; numerous budgeting apps can help make this process painless. Review and adjust your budget as needed and reward yourself for milestones achieved. Remember, the key is progress, not perfection.

Cut spending by 20%

Tracking your expenses unveils spending habits and areas where you can trim excess. Even a 20% reduction can significantly boost your financial health.

How to keep it:

Review your bank and credit card statements to identify discretionary spending. Create a plan, distinguishing between spending needs and wants. Negotiate bills, look for discounts and explore cost-effective alternatives. Cultivate a mindset of intentional spending, focusing on value over impulse.

Repay 20% of your debt

According to a TransUnion study, the average credit card balance has soared to $6,088, the highest in a decade. Paying off 20% — $1,217.60 of $6,088 — could help you get some breathing room, feel motivated to become debt-free and maybe even boost your credit score.

How to keep it:

Start by listing all your debts, and prioritizing high-interest ones. Devote a portion of your income each month to debt repayment. Consider snowballing — pay off the smallest debts first, then tackle the larger ones.

Add $1,000 to your emergency fund

A significant number of individuals do not have adequate savings to cover unforeseen emergencies. While experts recommend six months of expenses, saving $1,000 is an excellent starting point. This cushion can be a financial lifesaver in unexpected situations.

How to keep it:

Automate your savings by setting up a direct deposit to a separate account. Cut back on non-essential expenses and allocate windfalls, like tax returns or bonuses, to your emergency fund. Small, consistent efforts can yield significant results.

Get on track with your credit report

Your credit report is like your financial resume. Regularly checking it for errors and discrepancies ensures your financial reputation remains intact.

How to keep it:

You're entitled to a free copy of your credit report annually from each major credit bureau. Visit AnnualCreditReport.com to access yours. Scrutinize it for inaccuracies, and promptly dispute any errors you find. A clean credit report is a powerful tool.

Boost your retirement savings

Building a retirement nest egg is a gift to your future self. The earlier you start, the more time your money has to grow through compounding.

How to keep it:

Take advantage of employer-sponsored retirement plans like 401(k)s. If possible, contribute enough to receive the full employer match, and automate your contributions to ensure consistency. Consider consulting with a financial advisor to optimize your investment strategy for long-term growth.

As you embark on a new year filled with hope and potential, let these financial resolutions be the cornerstone of your journey toward financial well-being. By committing to these goals and implementing the strategies to keep them, you are laying the groundwork for a more secure and prosperous future.