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Motivation Time Tuesday: New Year's Resolutions by Financial Writers

new-years-resolutions Tell the truth. . .

Do you typically keep your New Year’s Resolution?

According to research, four out of five people will break their resolutions.

A third won’t even make it to the end of January.

I know what you’re thinking, “Should I even bother?”

You may think you’re set up to fail.

And no one wants to feel like a loser.

There’s nothing wrong with thinking that but it could be the actual resolution that might be working AGAINST YOU.

Get Real About Your Resolutions

The research goes on to explain that most people make the wrong resolutions. They tend to reflect a general desire versus setting a specific goal. They are often vague and unrealistic. When you don’t have a clear definition of what it is you are shooting for, it’s easy to end up back where you started. You may succumb to giving up when you only had a fuzzy idea of what you wanted to do from the beginning.

Although being unrealistic can set you up to fail, I am a fan of setting goals. You don’t really accomplish anything by going through life aimlessly. At the same time, you also don’t have to think small to set a realistic goal either. Just break the goal down into small, manageable steps. I also find that quickly blending the action step into your daily routine helps tremendously.  Prioritizing and deciding that it’s the most important thing to do, is a must.

I recently asked personal finance writers their thoughts about New Year’s Resolutions, here are their responses:

 

budgets-are-sexy-georgeJ. Money from Rockstar Finance and BudgetAreSexy

“My New Year’s resolution this year is to “act like an adult.” And by that I mean pretty much doing all the stuff I hate doing, but I know I need to in order to remain healthy and be here for my kids down the road. Which entails a) working out at least 30 mins. a day, and b) eating much, MUCH, healthier. I recently found out my blood pressure is higher than it should be for my age (turns out it can be hereditary – who knew?) so it’s time to buckle down and quit living like I’m still a poor college student… It’s not like I graduated over 10 years ago or anything, hah!”

 

andrea-travillianAndrea Travilian, TakeaSmartStep.com

I plan and organize my goals year round, but the new year is definitely one of those times where I sit down and review my “Resolutions”.  This year my biggest resolution/goal is to increase my business profits so we can pay off our house faster!

 

jeff-roseJeff Rose, CFP®, CEO and Founder of GoodFinancialCents.com

My New Year’s resolution is to help other’s realize the importance of investing in themselves. Because of this I’m launching Operation: #investNOW where I want to encourage 1 million people to take initiative and start investing. This could be a combination of traditional investing (stocks, mutual funds), getting a new certification or degree, or investing into a new business. Doesn’t matter how you invest, it just matters that you do.

 

todd-tresidderTodd R. Tresidder – Money Coach at FinancialMentor.Com

“I don’t practice New Year’s resolutions because I don’t think they are effective at producing results, but I do believe in goal setting because it works great. I set my goals regularly throughout the year, commit to them in writing, and regularly revise as I accomplish goals on the list. The December-January window is one of those times where I reset my goals so some might view it as a New Year’s resolution, but I see it differently. My goal setting process is serious business with engineered actions steps and methodical progress based on carefully designed habit formation. It is not wishful thinking: it is how I design my life. Just for fun, consider making a New Year’s resolution to adopt a goal setting and action taking process.”

ashley-jacobsAshley Jacobs from Wisebread.com

“A resolution I have for 2014 (and a resolution I think is good in general) is to reevaluate my budget. Your financial picture is constantly changing and you have to make sure your budget reflects that. Make sure you spend less than you earn and see what areas of your budget you can make cutbacks on so you can save even more!”
jason-hullJason Hull of HullFinancialPlanning.com

“Live your life how you resolve to live it. If you have have constant introspection, you give yourself a free pass to skip making New Year’s resolutions.”
 

 

 

money saving enthusiastHere’s mine:

“I review my goals monthly. I’m keeping it very simple. I like having a clean house so I am organizing and getting rid of clutter for ten minutes a day.  I also plan on posting money saving deals on a regular basis here on my blog. I plan on getting deals myself to plan one fun bi-monthly trip with my family.  I know Boston, MA is at the top of the list. It’s one of our traditions to go to Fenway Park every year.”
The Bottom Line

You can accomplish your New Year’s resolution. The key is to be clear and realistic. Take small action steps to meet your goal and you’ll achieve what you set out to do.



“I like your blog. I especially like this latest one on how you use your receipt on your fridge. Brilliant!”-Sylvia Martinez of SMartinez Media, former Editor-in-Chief at Latina Magazine

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