Have you been telling yourself year after year that you’re going to get your finances together but still haven’t done it yet?

Do you normally start the year out great but before you know it the new year looks just like the last one?

I’m here to let you know that 2023 can be different. If you already have a genuine desire to make some changes, that’s a great start. Now it’s just a matter of following through.

When it comes to hitting your goals, it’s not how you start, it’s how you finish. Below are six of the most common reasons people fail to finish their financial goals.

#1. Failing to put together a viable plan. Excitement is a good thing, but it usually comes with an expiration date. For this reason, it’s best to focus your energy on developing a viable plan during the “excitement” stage. It takes time to accomplish your goals, more time than adrenaline is likely to carry you. Therefore, developing a plan early will give you something to go on even after the excitement has worn off. While your goal is fresh in your mind and the inspiration is flowing, figure out a plan for how you’re going to get it done.

#2. Trying to do it all by themselves. Many times, people come up with outstanding goals but make the mistake of trying to do it all by themselves. Yes, it’s your goal but that doesn’t mean someone else can’t help you get where you want to go. Once you know what you want to accomplish it’s a good idea to find someone credible to help put you on the right track. It could save lots of time and energy. This is something I had to learn the hard way. I wasted a lot of time trying to do everything myself. Once I learned how to seek out people who were more experienced than I was, I got much better results.

#3. Lack of contact with people who are thinking the same way.  When it comes to success, environment matters. The information (ads, conversations, television) and people we encounter throughout the course of our day influences our thoughts more than we realize. In some cases, we get distracted. In other cases, we overthink things. We might even second guess our ability to accomplish our goal. When you’re committed to a specific goal, one of the best things you can do is connect with other people who are committed to the same or a similar goal. This way you’re regularly exposed to information and motivation to counter environments that do not enhance your chances of success.

#4. Lack of practical knowledge. They say we live in the information age, but I say we’re in the over information age. If you don’t believe me, Google any subject to see how many findings show up. Although there’s plenty information out there, it can still be hard to find information helpful to what you’re trying to accomplish. When it comes to your goals, focus on the information most helpful to you right now and leave the rest for later. For example, if your goal is to pay off debt, focus only on information from people who have successfully paid off debt.

#5. Lack of discipline. Discipline is probably one of the hardest things to maintain. Most people can only go so long before bad habits creep back in. I only know of two solutions for lack of discipline. 1) You must pursue goals that you have a deep desire to achieve. 2) You must make the process necessary to achieve your goal part of your lifestyle. Whatever steps you need to take to accomplish your goal has to become part of your lifestyle. For example, if someone has a goal to pay off debt and currently spend lots of money on eating out. It would be too difficult for that individual to focus solely on not eating out so they can save money. That person must make going to the grocery and preparing meals at home part of their lifestyle. The only way to sustain a new habit is by making it part of your regular routine.

#6. Impatience. Instant, fast, right away, are all terms we love to hear. Unfortunately, those type of words and goals just don’t go together. When it comes to accomplishing a goal it’s not uncommon for people to become discouraged and give up if things don’t develop quickly. It takes time to achieve your goals and in many cases much more time than we desire to spend. When it comes to accomplishing your goals, you must be ok with inching your way to the finish line because hitting the home run is not always possible.

As I mentioned 2023 can be different. One of the things that can help your success is connecting with like-minded people to walk with as you pursue your goals.

Looking for personal finance community that can help you develop a viable plan, point to helpful resources, and help you stay discipline? Check out the Personal EconoME Community today.