The top 5 financial resolutions our clients make include saving more, spending less and reducing debt.

Many resolutions seem to get broken throughout the year but it is logical that those who set out with goals to improve their finances at the start of the year will realise more of their goals by the end and will generally be better off financially.

Here are our top resolutions to make and keep for 2015:

1) Track spending and make a budget

It might sound obvious but checking the status of your savings and evaluating your monthly expenses is key to managing your cash flow and creating a budget that you can actually stick to.

If you are spending more than you make then how can you reach your financial goals? Make sure you include a fixed amount for discretionary expenses – a budget is only as a good as how well you can stick to it.

2) Open a savings account

Just like tax is taken out of your wages (if you’re an employee), pay yourself first in a separate savings account. If it’s not there – you can’t spend it and these types of savings accounts usually offer better interest rates as well.

3) Close accounts you don’t need

And while you’re opening a new savings account, it’s the perfect time to close accounts you don’t need and save money on bank fees and charges – those few $ every month can add up to hundreds quickly.

4) Create a pay down debt strategy

If you have a lot of bad debt, you will probably save more by paying this down first instead of rushing into investing. Start with high interest loans first and pay more than the minimum payments. I have seen many clients become debt free very quickly using this strategy.

5) Educate yourself

If you want to learn something new, then do your research, read experts in that area. For example if you want to cook you read cookbooks and attend cooking classes. If financial resolutions are a priority for you this year commit to speak to the experts at Positive Property Solution for guidance and mentoring Call 1300 883 631 to book a strategy session today.

Applying yourself on a consistent basis to learn more is essential to creating wealth.

(note: Positive Property will also be doing a blog on property, investing and mindset very soon!)

The key to sticking to your resolutions is to Take Action, track your progress and check it often.