Many start the New Year with an optimistic list of resolutions. Not meeting those resolutions many months later is all so familiar too, especially when it comes to financial goals.

Setting unrealistic goals is a surefire way to halter your progress. Instead, focus on creating an achievable plan to tackle your goals with small steps along the way.

Here are three ways to achieve your money resolutions this year:

Focus on ridding debt
Prioritising removing debt is first and foremost. Look at your collective debts and make a plan to start paying off one of those debts first. This may mean making extra repayments on high-interest debts or paying off small debts first to get the ball rolling. The key is to minimise your debts as much as possible, so you have the freedom to allocate that money elsewhere in the future.

Budget and save
Although budgeting is a timeless principle, many still fail to do it. Budgeting is paramount if you want to save – whether it’s for a holiday, car, house or money for a rainy day. Work out how much money you can save after expenses and set up an automatic transfer of money into a high-interest savings account.

Invest
Once you have your debts under wrap and have accumulated savings, you may consider investing. Take some time to research investment options that align with your goals, tolerance for risk and expected returns. If you are unsure of what types of investments would suit you, seek advice from a financial professional.