When those Christmas bills start rolling in, many people resolve to rein in spending and reduce their debt.

That’s why a financial plan is so important says BDO Debt Solutions Manager Adam Cardwell. He says while resolutions are hard to keep, setting a sound financial plan that encompasses many of your financial goals is a better route to take.

Most studies suggest that resolutions fail within the first six weeks says Cardwell, which is why making a solid financial plan will help you set goals and lessen financial stress.

He says the time to start a financial plan is now.

The first thing to determine are goals and what you’re hoping to accomplish says Cardwell. Be realistic and determine whether you want to save for retirement, put money aside for a rainy day, or knock down your debt.