VANCOUVER -- Financial promises can sometimes be hard to keep.
On CTV Morning Live, Taz Rajan of Bromwich and Smith shared that many people fall off track just a couple months in to the new year.
Rajan says it is so important to set SMART goals when it comes to finances; they should be specific, measurable, attainable, realistic and timely.
Execution of financial goals can be overwhelming. Rajan said that automating as much as possible is a great start.
Automate savings, credit card and other bill payments, RRSPs, and TFSAs including emergency fund transfers.
An accountability partner can also be a great tool in reaching financial goals.
This should be someone who is encouraging and supportive, and will provide a push when needed.
This person can be a friend, colleague, coach or financial professional.
In some cases, even if the right plans are put in place, some Canadians still struggle with their finances.
Rajan says that people should avoid collections, judgments and liens at all costs.
People should get ahead of their debt and speak to creditors as soon as possible. Talk to them about renegotiating terms or asking for an extension.
Bromwich+Smith's Debt Relief Specialists offer free, no-obligation, personalized consultations.
They're a great way to understand what options are available, rebuild credit and improve a financial portfolio.
