The new year has just started and most have made new years resolutions regarding money. Have you resolved to save more money in the new year ? If you answered yes you’re not alone. However, following through with that goal is the hard part. There are several great reasons as to why you need to stick to your goal in order to actually make progress with your money. Check out some major reasons to save money and tips to stick to your savings goals.

Save money to:

1) Stay out of the credit and debt cycle. An unexpected expense can wreak havoc with your financial progress. However, if you have money stashed away in an emergency fund you can handle emergency expenses without incurring debt. If you have nothing saved for an emergency fund, work on saving up at least $500 to start.

2) Get guilt-free rewards. We all know there will be times of temptation. Whether is a new jacket, shoes, a dynamic vacation…you start telling yourself you deserve it whether you have the money for it or not. You buy the item or go on the trip then have to play catch up on your finances and have more debt. Instead save up for the reward. Come up with a rule about how much you’re going to put away and how often you’re allowed to dip into the rewards money.

Stick to your savings goal:

1 ) Write it down. Make your goal as concrete as possible and put it in writing. What is the exact amount you want to save ? Why are you saving? How long do you have to save this amount? Creating that includes the answers to these questions will keep things in perspective and make you more likely to stick with it. A visual reminder would also help.

2 ) Start NOW. As simple as it sounds, that’s going to be key in sticking to your goal. The longer you wait before taking action on your resolution the less likely you’ll be to actually follow through with it.

Start immediately with something small that is automatically transferred. Now you’re in better shape for success. What’s your savings goal?