Tackle debt, build savings, learn financial skills, and create lasting momentum for your money goals. Find out how.<\/p>\n
Published Dec 29, 2025 \u00a0\u2022\u00a0 Last updated 4\u00a0days ago \u00a0\u2022\u00a0 5 minute read<\/p>\n
<\/a><\/p>\n You can save this article by registering for free here<\/a>. Or sign-in<\/a> if you have an account.<\/p>\n Q: I\u2019m in my late 30s and have recently ended a long-term relationship, which has made me reassess my priorities. My career is stable, but I\u2019ve accumulated some debt and haven\u2019t saved as much as I would like. As the youngest of four siblings, two of whom recently retired, I\u2019m starting to wonder if early retirement might be possible for me. Right now, I\u2019m not interested in dating, but I\u2019d like to travel more and worry less about money. How can I start the new year with a better financial outlook without making resolutions that I know I won\u2019t keep? ~Colin<\/p>\n Advertisement 2<\/p>\n This advertisement has not loaded yet, but your article continues below.<\/p>\n THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n Subscribe now to read the latest news in your city and across Canada.<\/p>\n Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. 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Plus, Canucks Report, Sports and Headline News newsletters and events.Unlimited online access to The Province and 15 news sites with one account.The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles and comics, including the New York Times Crossword.Support local journalism.<\/p>\n REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n Create an account or sign in to continue with your reading experience.<\/p>\n Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.<\/p>\n THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n Create an account or sign in to continue with your reading experience.<\/p>\n Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Account<\/p>\n or<\/p>\n Article content<\/p>\n A: Transitioning from a long-term relationship to independent living involves more than practical adjustments. It often includes emotional changes and a reassessment of personal priorities. At the same time, witnessing major milestones among family members, such as early retirement, can naturally prompt comparison along with reflection. Together, these dynamics can make financial planning feel urgent and overwhelming.<\/p>\n Article content<\/p>\n Recommended Videos<\/p>\n Article content<\/p>\n Reflection and the desire for change can lead to a series of financial New Year\u2019s resolutions, but following through with them can be challenging once the hype and pressure have passed. \u00a0Instead, treat this season as an opportunity for a purposeful three-month reset, which encourages mindful actions tailored to your needs and helps you build positive habits for lasting success. Here\u2019s how to start.<\/p>\n Choose one recent challenge and one recent success<\/p>\n Start by pinpointing a specific financial challenge, as well as noting a recent positive development to maintain both focus and perspective. Identifying a challenge, such as an outstanding bill or a travel savings account that isn\u2019t fully funded, provides focus by clarifying which issues matter to you right now. Acknowledging a recent success, such as your biweekly RRSP contribution, especially if your employer matches it, adds perspective by reinforcing what is already working. Together, they create a grounded starting point that supports realistic decision-making rather than overly ambitious or reactive changes.<\/p>\n Canucks Report<\/p>\n Thanks for signing up!<\/p>\n Article content<\/p>\n Advertisement 3<\/p>\n This advertisement has not loaded yet, but your article continues below.<\/p>\n Article content<\/p>\n What to Do When Your Financial Goals Feel Unrealistic<\/a><\/p>\n Complete one low-effort action to kick off your refresh<\/p>\n Getting started can sometimes be the hardest part and staying on track often depends more on timely actions than motivation. To get over that initial hump, choose one practical task that can be completed quickly, such as scheduling a financial review appointment, establishing an automated transfer into a travel savings account, or adjusting a bill payment date to better align with when you receive your income. By deliberately making these steps easy to complete, they create tangible progress, making it easier to continue forward than to start again from scratch.<\/p>\n Small Payments Can Make It Easier to Pay Off Debt<\/a><\/p>\n Select one change that has maximum impact<\/p>\n Instead of spreading your efforts thin with multiple resolutions, identify one specific change that doesn\u2019t require constant attention but keeps you moving toward your goals. Choose an adjustment that continues to work in your favour, such as automating savings contributions for each of your goals, consolidating higher-interest debt to pay it off more quickly, or aligning all of your bill payments with when you are paid. By choosing a change that fits your cash flow and daily habits, you reduce the need for ongoing discipline and allow systems, rather than willpower, to drive your progress throughout the year.<\/p>\n Advertisement 4<\/p>\n This advertisement has not loaded yet, but your article continues below.<\/p>\n Article content<\/p>\n How to Accelerate Paying Off Debt<\/a><\/p>\n Address debt to keep it from standing in your way<\/p>\n While debt happens because of past choices or circumstances, we must manage it with money we earn now and in the future. To minimize debt\u2019s drain on your future financial situation, start by reviewing all of your outstanding balances to identify which debt carries the highest interest costs and which balance could be paid off in the shortest period of time. Directing extra payments toward the highest-interest debt limits how much interest you will pay, while eliminating a smaller balance at the same time provides a tangible sense of progress that helps sustain momentum. Some people choose the first method, also called the avalanche method, while others use the second method, sometimes called the snowball method. However, by using both methods at the same time, you\u2019re able to tackle debt even more aggressively.<\/p>\n Which is Better, the Snowball or Avalanche Method?<\/a><\/p>\n If it\u2019s difficult to determine the best approach on your own, a confidential conversation with a qualified credit counsellor at a local non-profit organization can clarify your options and help you turn them into a manageable plan. They can also help you evaluate your long-term savings goals such as early retirement realistically, so that you can calculate what is achievable given your income, lifestyle, and other financial goals.<\/p>\n Advertisement 5<\/p>\n This advertisement has not loaded yet, but your article continues below.<\/p>\n Article content<\/p>\n Treat your top goal as a structured priority rather than a hope or dream<\/p>\n Whether your No. 1 goal is travel, early retirement, saving for the down payment of a house, or paying for your children\u2019s education, incorporate this goal into your financial plan in a deliberate way. Establish a dedicated savings routine, even at a modest level, through regular transfers or roundup features if that is available with your online banking. Positioning an important goal as an intentional line item in your budget allows you to plan for it without undermining your broader financial stability. You may also want to allocate periodic windfalls, such as tax refunds or bonuses, toward key savings goals while regular income supports debt reduction and long-term savings.<\/p>\n How to Use What to Do With an Unexpected Windfall or Extra Money Effectively<\/a><\/p>\n A concise, repeatable planning routine is the key to success<\/p>\n To maximize the impact of your efforts without unnecessarily overwhelming yourself, keep your planning routine consistent while rotating your key priority each month. A 20-minute check-in is enough to review upcoming obligations, confirm automated systems are working as intended, and identify one clear focus for the month ahead. Knowing that you will be reassessing your priorities regularly keeps financial goals top of mind and encourages ongoing, manageable improvements rather than one-time efforts that are difficult to sustain.<\/p>\n Advertisement 6<\/p>\n This advertisement has not loaded yet, but your article continues below.<\/p>\n Article content<\/p>\n 4 Key Steps for Implementing Changes or Resolutions<\/a><\/p>\n The bottom line on creating a successful financial reset<\/p>\n There is no such thing as a perfect financial plan, nor is there a \u201cset it and forget it\u201d approach that works in all situations. Financial progress can occur even if the future may seem uncertain. Begin your financial reset with a three-month commitment. Treating this as a time-bound planning window allows you to implement changes, assess the results, and make adjustments without pressure. Celebrate incremental progress such as reducing a credit card balance by $1,000 or successfully automating a savings contribution, to help reinforce momentum. Over time, these measured steps create flexibility and expand your long-term financial options.<\/p>\n Related reading:<\/p>\n Money Habits of Successful People That You Can Copy Too<\/a><\/p>\n 4 Common Financial Goals and How to Make Them SMART<\/a><\/p>\n How to Stay Motivated When Paying Off Debt<\/a><\/p>\n Peta Wales is President and CEO of the Credit Counselling Society, a non-profit organization. For more information about managing your money or debt, contact Peta by email<\/a>, check nomoredebts.org<\/a> or call 1-888-527-8999. <\/p>\n Article content<\/p>\n Share this article in your social network<\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links Columnists Tackle debt, build savings, learn financial skills, and create lasting momentum for your money…\n","protected":false},"author":2,"featured_media":384977,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,131,132],"class_list":["post-384976","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-ca","tag-canada","tag-finance","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/384976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=384976"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/384976\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/384977"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=384976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=384976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=384976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"reset\"](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/01\/0807-biz-wire-debt_24206063.jpg\")
There is no such thing as a perfect financial plan, nor is there a \u201cset it and forget it\u201d approach that works in all situations. Begin your financial reset with a three-month commitment. Photo by Joe Raedle \/Getty ImagesArticle content<\/p>\n![\"The](\"https:\/\/dcs-static.gprod.postmedia.digital\/20.2.3\/websites\/images\/identity\/logo-identity-vp.svg\"){kind=logo}
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