Using technology can be useful in achieving your New Year’s resolution, writes Peter Watson.
This year’s New Year’s resolution comes with a suggestion that you increase your chances of success by using technology
A starting point is to decide what life objective do you want to build towards. Do you have a dream wish?
Examples could be to take several months off and travel, save a down payment for a house or reduce your debt. Perhaps you have a longer-term objective that could include assisting your children with their post-secondary education or planning for your retirement.
Once you’ve determined your objective it’s a matter of understanding what financial actions are required for your dreams to come true.
Using technology can help with the specifics. If you work with a financial planner, they will have that available.
This is where things get interesting. Determine what small steps need to be taken over time that will allow you to meet your objective.
The key is “small steps.” Achieving significant financial goals by saving a small amount every month can be the key to success.
Technology allows you to see significant outcomes by just saving a little money on a regular basis. Ideally, the amount you hope to save will be achievable and it be deducted automatically. Plus, using technology makes it easy to see how little changes to your savings plan can have significant results.
A suggestion for your New Year’s resolution is to decide on your personal dream. Then, with the assistance of technology, see how small regular savings will make your dream come true.
Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsoninvestments.com
