Have you ever felt like you’re hitting a wall with your finances? That you are struggling to stick to your money goals? Then perhaps it’s time to hit reset on your finances and take advantage of these times to reorganize and re-evaluate to make better money choices.

Resetting your financial goals is all about taking a pause, checking in on your finances, taking stock of the progress made so far alongside the goals/intentions set and then striving to do better to get on a more stable financial footing.

Whether it’s a new year or a new month, take advantage of these times to help you assess your financial goals and live your best financial life.

When the motivation strikes

There’s no better time to reset your money goals than now. Today. When the motivation strikes, do it. It does not matter whether it’s a random Thursday afternoon in January, your birthday or a new month; anytime is a good time to make meaningful changes with your money.

When major life changes occur

When a significant life change happens, planned or unplanned, it presents the perfect opportunity to reset your money goals. Be it a planned one like a graduation or an unexpected one like a new job opportunity, these changes bring some urgency to re-evaluate and reprioritize your money goals.

For example, a significant life change like having a baby may make you realize you don’t have as much time as you thought to binge-watch your favourite shows and that maybe, it doesn’t make sense to subscribe to all those premium channels since you don’t have time to watch them anyway. And that you could use that money for other costs.

A major life change allows one to shift their money goals to save, invest and spend with the current reality.

When you get a raise or a windfall

There’s no better time to revisit your financial goals and plans than when you get a salary bump or win a jackpot.

This will be the time to reinforce your financial foundation-save more, look for more investment opportunities, add to the emergency fund and put more money into your retirement benefits fund.

During setbacks and emergencies

When setbacks in life happen, like a job loss, an illness or divorce, these experiences can be used to re-evaluate what’s essential, both personally and financially.

And once you have dealt with or come to terms with what is important, you can better build your financial plans around your new priorities. These moments can also make you realize the importance of having an emergency fund or medical insurance and make them a priority as you plan for the future.

During money dates

Money dates are a way for you and your significant other to talk about money, and what matters to you about finances.

Going on money dates presents opportunities for the two of you to land on the same page about your financial plans or make adjustments if necessary.

Money dates allow you to track progress towards any joint goals or projects you may have. They also open up space to address financial needs for plans like starting a joint account, a business or planning a wedding.