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With the end of the last decade, and the start the twenties, Australians have been setting their goals for the new year to come.

Most of us set ourselves goals for the year to come. Some are well-thought out and better planned than others.


Wanting to make positive changes in yourself is something for which you should be heartily congratulated.

However, it is only the first step to change. Past research has shown that a whopping 88% of your new years’ resolutions will fail.

The reason behind this is that most goals are not connected to any specific behaviour, which makes it almost impossible for you to focus on.

Setting a goal to save more money is great, but what specific action will help you achieve this goal.

Tying your resolution to a specific habit makes it much easier for you to achieve.

At Dollars With Sense we are all about assisting Australians to make smarter financial decisions, so let’s focus on the habits that can help you to make your goal to save less likely to fail terribly.

Focus on only this resolution

Sticking to more than 1 New Year’s resolution is nearly impossible for a human brain to handle. Resolutions require enormous willpower and by spreading your willpower too thinly between your resolution, you are setting yourself up for failure.

Break it down

You want to save? Great. But how are you going to do it?

  • Analyse your current situation. How much do you earn and how much do you spend on a month to month basis?
  • Create reasonable savings targets.

If you are currently only saving a small amount each month, don’t set yourself a target that is not realistic.

  • Develop ways to reduce spending (or increase income)

What specifically are you going to do to reduce your spending?

Creating a specific behaviour

Heres an example many of us can relate to:

Canstar research has shown Australians spend an average of $118 per month on alcohol. But analysis of your own spending has revealed you spend $200 a month on alcohol. You decide that from now on, you will restrict this to $50 per month.

A possible action could be to take $50 out of the bank each month and you only allow yourself to purchase alcohol using that $50 until the start of the next month.

You have now given your goal to save more money a specific behaviour that will lead to its success.

If you stick to this habit, you will save $150 per month, for a total of $1800 per year.

Check in each month

For a goal as complex as saving money it is vital for you to check in and review how you are progressing.

Set aside the 1st of each month (or a day that suits) to sit down and review your progress.

Hold Yourself Accountable

Tell others of your resolutions. Studies have shown that increased social support has a significant impact on your behaviour. So if you’re trying to save more money, let your friends know and tell them how you plan on doing it.

Who knows, you might inspire them to join you on your journey!

This years’ top resolutions are:

  1. Lose weight
  2. Eat healthier
  3. Travel
  4. Reduce debt and save
  5. Develop better sleeping habits

Getting Help

If you are one of the many Australians who has set yourself a finance related New Years resolution, then Dollars With Sense is here to help. We offer a no-charge consultation where we can assist you in understanding your options moving forward.

There is no obligation to work with us moving forward. The consultation with a member of our friendly and knowledgeable team is simply there to guide you on your journey to Work Smarter Not Harder.




I highly recommend Dallas and his team of experts at Dollars with Sense to everyone out there who wants to be more adept at financial matters. They provide great insights about investing and planning for the future. With their sensible tips, my super fund is on track to giving me the ideal lifestyle I look forward to. I have security and peace of mind, which is priceless!


One of the things I appreciate the most about the Dollars with Sense team is how they are so honest about financial matters. They are not after promoting a certain kind of investment, but rather, they always emphasise what an average person should consider before jumping into a financial commitment. Dollars with Sense truly opened my eyes towards property investment, and I am so grateful that I get no-nonsense tips from these experts. I hope that Dallas and the team will continue to guide us in all money matters!