Fixing your money problems in just 12 months is possible with determination and a plan.

The first step is a spending freeze. Eliminate luxury spending and focus solely on needs, such as meals, shelter, and commuting costs. This helps you rethink spending and provides money to pay off loans and start saving. Use this momentum to build a budgeting plan, assigning a purpose to each dollar.

Next, boost your earnings. Take on freelance gigs, sell unused items, finance sources or pursue training to get a better-paying position. Every extra dollar earned should be directed toward financial goals, like saving for emergencies or eliminating liabilities. Speaking of debt, adopt the methods to pay off debt—starting with the smallest debts or focusing on high-APR debts, respectively.

Reward yourself for minor achievements along the way to maintain your drive. Whether it’s eliminating a debt or building your starter fund, each success demonstrates that you’re on the path to financial success. With discipline and a clear plan, a money turnaround in a year isn’t just a dream; it’s your achievable success.