New Year’s Day is the traditional time for setting resolutions. But make them too lofty or unreasonable and by Valentine’s Day, you will wonder what went wrong. GreenPath trainers Megan Bridgett and Aimee O’Brien, offer up some simple and attainable ways for you to get financial goals in line in the first sixty days of the New Year:

On January 1, when you are still excited about your New Year’s resolution, coordinate a family meeting. “It is important to keep all members of the family involved in the decision making process,” said Bridgett. For instance, children can help save the family money by simply turning off lights when they are not in use and monitoring cell phone usage and charges.

January 1 – 14: Brainstorm on both your short and long term goals. Short term goals could occur within the next three to six months, and long term could be within the next few years. Try to make sure to keep them SMART:

• Specific – Be specific. If your goal is to “save money,” say instead, “I want to save money in order to buy a new car.”
• Measurable – Make the goal measurable. If you are saving money for a car, identify the amount you plan to save.
• Attainable – Goals should be attainable. If not, you may get discouraged and give up.
• Realistic – Be realistic. If you had a goal to “Never eat lunch out while at work,” this might not be realistic or possible. But if you changed it to “Eat lunch out once per week while at work,” you are far more likely to stick with it.
• Timely – Set a deadline for the goal to be accomplished. This will help you to stay focused and motivated.

The month of January: On January 1, create a projected budget of your monthly expenses, breaking them into different categories: Groceries, Clothing, Entertainment, Dining Out, Utilities, Household Bills, Debts, etc. “For the month of January keep every receipt,” said O’Brien. Each week, place the receipts into the categories you’ve identified. At the end of the month, total each category comparing what you’ve spent to what you’ve projected. “People tend to spend ten to twenty percent over what they anticipated and projected spending,” said O’Brien. This will help you to identify areas to adjust or cut back.

The month of February: Start making some cutbacks. “Make sure to stay realistic and do not cut out everything,” said Bridgett. “Gradually make these changes to keep yourself motivated and excited.”

Keep tracking your expenses and compare at the end of the month. Think about putting any money you saved into a family bank account. At the end of the month, have another family meeting and celebrate your successes by doing something fun and inexpensive as a family.

Time out on Super Bowl Weekend: For those who are football enthusiasts, this idea is for you! “Financial Football,” sponsored by Visa and the National Football League, is an interactive game for kids and grown-ups alike. Go to www.practicalmoneyskills.com and click on “Games.” This fun tool helps educate kids on financial topics while keeping them entertained and engaged.

Get through the first 60 days of attaining your goals and tracking your progress and the next 300 days will find you saving, budgeting and tracking your way to financial success in 2011.