We are a quarter way into the year, and it’s a great time to check in with yourself and see where you're at with your financial goals so far. If you’re not quite where you'd like to be or just looking for some extra guidance, keep reading because we’ve got some tips for you.

Set realistic and SMART goals.

A great way to ensure you stay on track is to have clearly defined goals and objectives – in other words set SMART goals. SMART stands for Specific, Measurable, Achievable, Relevant and Timebound. An example of a SMART goal might be I want to save $5,000 for a new car by the end of 2023.

Adopting this approach will help you clarify your objectives, so you can stay focused and more effective with your use of time and resources. It also helps you stay grounded with realistic goals and expectations for yourself.

Build your goals into your budget and stick to them.

Once you've reviewed your goals, the next thing to do is incorporate them into your financial plan and see how you can achieve them.

Document your income coming in, and your monthly expenses. This lets you see what can be set some aside for your financial goals. There’s lots of software options and other tools that you can use, but even something as simple as a Microsoft Excel spreadsheet can be your perfect instrument for capturing your income vs. expenses.

Shaping your spending plan to account for your financial goals is a great way to ensure they are achieved. It can also be a great motivator because you can visualize your financial efforts actively working to help you achieve your goals.

Invest in yourself by learning more about personal finance.

One of the most important investments you can make is in yourself. A great place to start is learning more about your personal finances. Taking that extra step to educating yourself will help you better understand your finances so you can weather any challenges you encounter on the route to achieving your financial goals. There’s a whole host of resources available that are tailored to how you learn best. A quick search on the internet will give you lots of options on where you can start.

Conduct regular reviews.

Give yourself time to evaluate your progress and performance along the way. This will allow you to make any necessary adjustments as your year goes on and lets you remain financial aware and informed of your goals and progress to them. You can perform these reviews on your own schedule and cadence, but don’t forget to celebrate your successes when you reach a new milestone!