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Achieve Your Financial Resolutions in 2024 with O1ne Mortgage

If you’ve set financial resolutions for 2024, you’re off to a great start. However, many people struggle to follow through with their resolutions because they don’t take enough steps—or the right steps. To truly achieve your goals this year, you need more than just resolutions; you need a solid plan. Here are five common mistakes to avoid to ensure success in the new year.

1. Not Writing Down Your Financial Resolutions

Studies show that writing down your goals makes them more likely to happen. While it’s not a guarantee, it does make a significant difference. Simply talking about your resolutions isn’t enough. Writing them down is the first step in creating a plan to achieve them.

2. Not Setting SMART Goals

SMART goals are Specific, Measurable, Achievable, Realistic, and Time-Bound. This concept, introduced by George T. Doran in 1981, provides a blueprint for achieving your goals. For example, if your resolution is to save more money in 2024, make it specific by deciding to save 10% more of your income. Measure your progress, ensure the goal is achievable and realistic, and set a time frame to keep yourself focused.

3. Lacking an Accountability Buddy

Having someone to share your progress with can be incredibly motivating. Find a friend or family member with similar financial goals to cheer each other on and hold each other accountable. This strategy isn’t for everyone, but it can be very effective for those who thrive on external support.

4. Not Consulting a Financial Professional

Working with a financial professional can provide valuable expertise and guidance. Whether you’re looking to improve your investments or get out of debt, a financial advisor or certified credit counselor can help you achieve your goals more efficiently.

5. Giving Up Too Easily

Financial resolutions are often challenging, which is why you make them. It’s important to stay committed and not give up after a few months. Even if you fall short of your goal, working towards it still counts as progress. Stick with it, and you’ll be surprised at where you are in a year.

The Bottom Line

Creating specific financial resolutions for the new year is a great idea, but it’s also crucial to understand your entire financial picture. Check your credit report and score, and identify areas for improvement. Even small changes can make a big impact when combined with your financial resolutions.

For any mortgage service needs, call O1ne Mortgage at 213-732-3074. We’re here to help you achieve your financial goals in 2024 and beyond.

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