The champagne is gone, the ball has been dropped, and the holiday bills are starting to roll in.

That means thereB次元官网网址檚 no time like the present to make a New YearB次元官网网址檚 resolution B次元官网网址� especially one that might help take some of the sting out of those bills.

Experts say it really is possible to use Jan. 1 as an opportunity to turn over a new financial leaf.

B次元官网网址淭here are certain times of year that are the best times to set a goal, and one of those is most certainly New YearB次元官网网址檚,B次元官网网址� said B.C.-based Kerry Taylor, a financial journalist and creator of the financial website Squawkfox.com.

B次元官网网址淭hereB次元官网网址檚 science called the fresh start effect, and itB次元官网网址檚 a really cool way to make resolutions stick. What it is, is a psychological phenomenon where we feel more motivated and excited to attack a goal based on the time of year.B次元官网网址�

ThatB次元官网网址檚 good news for the 38 per cent of people who have chosen B次元官网网址渋mprove financesB次元官网网址� as their New YearB次元官网网址檚 resolution for 2024, according to Forbes magazine,which polled 1,000 U.S. adults in October.

Money-related resolutions are always a popular choice, second only to the perennial B次元官网网址渓ose weightB次元官网网址� or B次元官网网址済et fitB次元官网网址� New YearB次元官网网址檚 pledge. But financial New YearB次元官网网址檚 resolutions feel especially timely this year given Canadians have spent the past 12 months grappling with grocery store sticker shock, rising interest rates and increasingly unaffordable housing costs.

B次元官网网址淚 know people are motivated to have more in the bank account, whether thatB次元官网网址檚 tackling the mortgage or paying off credit card debt,B次元官网网址� Taylor said.

B次元官网网址淏ut Jan. 1 doesnB次元官网网址檛 make the change for you. It doesnB次元官网网址檛 guarantee the success, which is where a lot of us go astray. So to make that goal stick, you have to actually do the work.B次元官网网址�

When it comes to resolutions, making them stick is less about willpower and more about habit formation, said Vancouver-based Natasha Knox, a financial therapist who helps clients think, feel, communicate and behave differently with money.

Knox advises resisting the temptation to overhaul your entire financial picture at once. Instead, she suggests starting with an extremely small goal B次元官网网址� what she calls a B次元官网网址渕icro- or nano-goal.B次元官网网址�

B次元官网网址淭hereB次元官网网址檚 quite a lot of science around habit formation,B次元官网网址� Knox said.

B次元官网网址淎nd when youB次元官网网址檙e trying to form a new habit, you want to start with something so easy it requires no willpower at all.B次元官网网址�

That means, if your goal is to save more money in 2024, start by increasing the amount you auto-transfer to a savings account each month by a B次元官网网址渕inisculeB次元官网网址� level, she said.

And if your goal is to spend less, try a B次元官网网址渘o-spend dayB次元官网网址� rather than tackling a more ambitious B次元官网网址渘o-spend January.B次元官网网址�

B次元官网网址淢easure it in small chunks. Try it for a single day, then maybe the next week pick two days. And then by spring, maybe you have a no-spend week,B次元官网网址� Knox said. B次元官网网址淭hatB次元官网网址檚 a lot more sustainable.B次元官网网址�

Vanessa Bowen, founder of Toronto-based financial coaching service for women Mint Worthy Co., said the new year can be a good time for people to sit down and reflect about why they make the money choices they do.

B次元官网网址淲e talk a lot about money management, but we never seem to talk about money mindset,B次元官网网址� she said.

B次元官网网址淪o letB次元官网网址檚 say someone says, B次元官网网址極K, my resolution this year is to pay down my debt.B次元官网网址� OK, thatB次元官网网址檚 great. But if they hold a mindset that theyB次元官网网址檒l always be in debt, or they believe that getting out of debt is hard and they donB次元官网网址檛 have enough money to get out of debt, their actions will always align with their mindset.B次元官网网址�

To understand your own money mindset, Bowen recommends thinking about the financial beliefs you may have adopted from your parents, your own triggers and habits around money, as well as visualizing how you want to think and behave about money in the future.

It can also be a good idea to set up weekly B次元官网网址渕oney datesB次元官网网址� with yourself. This is dedicated time you set aside on a recurring basis to touch base with your financial goals and evaluate your progress.

B次元官网网址淚f you just set a goal and hope and pray it will happen, it wonB次元官网网址檛 happen,B次元官网网址� she said.

B次元官网网址淏ut if you have a plan and have these weekly check-ins, youB次元官网网址檙e more likely going to stick to your resolution way past February.B次元官网网址�

Other psychological tricks experts recommend include B次元官网网址渢emptation bundlingB次元官网网址� B次元官网网址� where you take something you donB次元官网网址檛 like to do, like paying bills, and bundle it with an indulgence, like eating chocolate.

Another trick? Visualizing yourself as a senior citizen. That trick, in particular, can help you create empathy for your future self and encourage you to care for yourself by saving for retirement.

Whatever the goal, however, itB次元官网网址檚 important people donB次元官网网址檛 put too much pressure on themselves. Knox recommends finding a friend or family member with a similar goal, so you can cheer each other on when things are going well and commiserate during setbacks.

B次元官网网址淭hat has a lot of value. WeB次元官网网址檙e social creatures,B次元官网网址� she said.

While these are difficult financial times we live in, almost everyone can benefit from taking the time to make small changes that will help set them up for a more prosperous new year, Bowen said.

B次元官网网址淚tB次元官网网址檚 progress over perfection,B次元官网网址� she said.

B次元官网网址淚tB次元官网网址檚 not to say that youB次元官网网址檙e going to have a 100 per cent mark at the end of 2024, but I think small steps will help people to make the incremental changes that our society and economy needs right now.B次元官网网址�

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