FERNWOOD FITNESS - PULSE eMagazine - Issue#14 - Flipbook - Page 47
Step 3: Monitor and adjust
• Monthly check-in: Set a date each month
to review your spending, debt balance
and savings progress.
• Quarterly review: Every three months ask:
“Am I on track to meet my goal (e.g., clear
holiday debt)? Do I need to adjust?”
• Celebrate wins: Even small wins matter!
Paid off one BNPL, built $500 in savings,
stuck to your budget for a month.
Recognise progress.
COMMON TRAPS TO AVOID
• Thinking “I’ll wait until next
salary before I start budgeting”.
The sooner you start, the less
the burden.
• Using another loan or BNPL to
pay off holiday debt. That often
just defers the problem.
• Ignoring savings because you’re
focused only on debt. Balancing
both is smarter.
• Believing “I’ll recover later in the
year” and pushing the problem
forward. Early reset is less
stressful.
Step 4:
Be realistic but
optimistic
Remember: resetting
昀椀nances after the holidays
is not about making
yourself miserable. It’s
about setting yourself up
for a stronger year ahead.
With cost of living, interest
rates and uncertainty
all ahead of us, being
昀椀nancially resilient matters.
THE RIGHT TIME IS NOW!
The post-holiday period is a
golden opportunity: the hype of
the season is gone, the year is
just starting and you can set your
昀椀nancial tone now. By taking stock,
resetting your budget/habits,
monitoring progress and avoiding
common traps, you can move from
“holiday spending hangover” to
“昀椀nancial clarity and momentum”.
This article provides general information and
doesn’t replace personal 昀椀nancial advice. Always
consult a licensed 昀椀nancial professional.
