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How To Crush the Next 11 Months: A Month-By-Month Guide

Looking for goal-setting help that’s a bit outside the box? Ditch the New Year’s resolutions and build a plan for each month of the coming year.

January 12, 2022

At the start of a new year, there’s typically a ton of focus on New Year’s resolutions.

There’s only one problem: New Year’s resolutions don’t necessarily work. 

In fact, statistics show that around 80% of New Year’s resolutions fail. That means that only around 20% of people actually stick with their goals throughout the year. 

Is there a more effective method of goal setting? It all depends on your personality and your plans, but some people may find better success by breaking the year down into smaller, more manageable chunks. 

In this unique guide to goal setting, you’ll discover a month-by-month approach to crushing 2022. Combine these strategies with a SMART goals template by making your goals Specific, Measurable, Attainable, Relevant, and Time-oriented. 

If you’re looking for some concrete goal setting help, this is the guide for you.

February: Complete a “no spend” challenge

If you’ve got a financial hangover from the holidays, it’s understandable. It can be difficult not to overspend on gifts, travel and holiday festivities

For a financial reboot, consider a “no spend” challenge. 

As the name suggests, this is a period of time in which you cut out all unnecessary spending. You’ll continue paying rent and necessary bills, but you won’t go out to eat, buy coffee to-go or purchase anything that’s not absolutely essential. 

If you’re up for the challenge, cutting out spending for the month of February can help you evaluate what you actually value in life. 

And, at the end of the month, you’ll probably have a good chunk of extra money. Here’s what you can do with it

March: Start budgeting

Budgeting can feel like no fun, but it’s one of the best ways to get ahead financially. And considering 44% of Americans list saving more money as a top priority, this is a very common challenge to tackle. 

So, how do you budget? Here are some resources to help you get started:

April: Tackle your debt (or invest)

April may be a good time to pay off some of your debt. Why April? Because you can utilize your tax refund for a quick boost of cash. 

In 2020, the average tax refund was $2,827. That’s a substantial chunk of change that can give your debt-payoff strategy a big boost. 

Instead of spending your tax refund, consider funneling it towards your high-interest debts. You can even choose the right debt to pay off first to maximize your results. 

If you’re already debt-free, you can consider investing the money instead.

If credit card debt is on your mind, check out Tally† Tally is a personal finance app that may help qualifying Americans get out of credit card debt faster. Learn how it works here.

May & June: Tackle your fitness goals

When it comes to goal setting, improving fitness or doing more exercise tends to be the #1 goal among Americans. 

As a result, everyone on earth heads to the gym in January, but many people fizzle out and stop going a few months later. By May, the gym is practically empty — and some gyms may even be running specials on signups. 

Plus, the weather is starting to get nicer, making it more enjoyable to exercise outside. Whether you want to start hiking, pick up jogging or continue to hit the gym, spring is a great time to start working on your fitness. 

Fitness doesn’t have to be expensive, either. Here are some budget-friendly ways to increase your physical activity:

  • Go on hikes nearby

  • Follow along with workout videos on YouTube

  • Practice yoga in your home with complimentary YouTube channels like Yoga with Kassandra and Yoga with Adriene 

  • Pick up jogging or speed-walking

  • Buy resistance bands to start strength training at home

  • Do pushups or other bodyweight exercises

July: Enjoy your summer

Many goal setting lists will tell you to keep crushing it at all times. But life is about more than just grinding out the next objective.  

This July, try to kick back and enjoy.

To get the most out of the summer, be intentional about how you spend your time. Get outside to enjoy the nice weather. Plan a getaway for a change of scenery. Sprinkle in intentional periods of rest and relaxation to “recharge” for the months ahead. 

And, if you’re planning any summer travel, here are some resources to help you stay on-budget:

August: Conquer “back to school” season

If you have kids at home, August is all about “back to school” season. While some clothing and school supply shopping is likely in order, that doesn’t mean you have to spend a fortune. Check out our guide on how to find the best price to save money on all the essentials.

If your children are at an appropriate age, this is also a great time to start teaching them financial literacy topics. The simple act of giving children money to purchase their own school supplies (with supervision, of course) can teach them some powerful lessons about how money works. 

Parents can also benefit from a financial refresher course. Here are six financial TED talks worth watching. The Tally Blog is also a great place to learn all about personal finances. 

September: Revisit your student debt

The average student loan debt is at a whopping $37,693. If you have student loans remaining, consider revisiting your payoff plan this September. 

This could be as simple as making an extra payment or two towards your debt. Or, it could include altering your payment plan to help pay off the loans faster.

Tackling a financial challenge starts by understanding it. Here are some resources to help you with your student debt:

October & November: Make extra contributions to retirement

Saving for retirement is vital for long-term financial success, and it’s wise to contribute part of your monthly paycheck to your retirement fund throughout the year. Many financial planners recommend saving 10 to 15% of your income towards retirement. 

You can give your savings a further boost by making some extra contributions. And for many households, October and November can be a good time to take action. 

These months often see a “lull” in spending. Your summer travel is over and your holiday spending has yet to begin. Thus, you may have more room in your budget to contribute to retirement savings. 

Here are a few retirement resources to help you out:

December: Wrap up year-end financial planning

As the year comes to a close, it’s time to reflect and wrap up any lingering financial to-dos. This could include several tasks:

This is also a great time to start thinking about goal setting for the following year. Maybe you want to get an early start on next year’s resolutions? 

Related reading: How to finish your financial year strong

†To get the benefits of a Tally line of credit, you must qualify for and accept a Tally line of credit. Based on your credit history, the APR (which is the same as your interest rate) will be between 7.90% - 29.99% per year. The APR will vary with the market based on the Prime Rate. Annual fees range from $0 - $300.