How to Invest in a Fun Life

Perhaps, in the past, your goal has been to get out of debt, but you’ve never quite been able to do it. The problem may be that you’re “not consciously convinced that the goal is the right thing,” Locke says.

Think about it: Do you have any reservations that could be holding you back? Maybe you’re afraid that, once you pay down your debt, you won’t know which money goal to prioritize next. Or perhaps you fear that since you’ve already made the mistake of getting into a lot of debt once, you’re just going to do it again.

If you can pinpoint the emotional obstacles that stand between you and your dreams, you’ll have a much better chance of knocking them down.

Put a plan in place for roadblocks.

When you’re working toward a money goal, says Dr. Julia Bayuk, assistant professor of marketing at the University of Delaware’s Alfred Lerner College of Business and Economics, it’s important to think about how you might get tripped up—and then create a repeatable “if/then” plan of attack for yourself.

Do you have any reservations that could be holding you back? Maybe you’re afraid that, once you pay down your debt, you won’t know which money goal to prioritize next.

For example, if your financial resolution is to spend less on food, you might think, “If my friends invite me to an expensive restaurant, then I will suggest a cheaper option to them instead.”

According to Bayuk, “the idea is to automate the process so that you always respond in a preset way when presented with a particular scenario.”

With this strategy in place, you’ll be less inclined to fret over what to do when you’re put on the spot—and you’ll be more likely to stick to your money resolutions.