Sorry we missed last week’s post. We extended our Holiday vacation!


Now that 2012 is here, have you thought about what you want to occur this upcoming year? Have you considered any goals you’d like to set for yourself and how to start working toward them?


Resolutions are always big this time of year, though as many people will admit, they often only last a few weeks, maybe even a few months, but they rarely lead to permanent changes in your life. Why do you think that is? There are a couple of different reasons we feel like New Year’s resolutions often fail.


  • Too Broad – If your resolution is to exercise more, have you decided what that entails? How many times a week are you going to work out? For how long? Doing what activity? At what time of day? If your resolution is too broad, you won’t have any real, tangible way to make a change.
  • Too Big – People often make huge resolutions and try to jump in 100% and get everything done at one time. Then, as time passes, enthusiasm starts to fizzle out, either from lack of results, lack of true commitment, or any other possible excuse people make. Weight lose is a great example since it is a popular resolution. Instead of immediately cutting out everything bad to eat and going crazy dieting and exercising (which often leads to either giving up completely or losing weight and gaining it all right back) think about small, truly sustainable things you can do to realize your resolution. Make one small change at a time and you’ll be more likely to succeed. The weight may come off more slowly, but you’ll be less likely to give up because you feel deprived or frustrated.


Do you have a resolution that involves your finances? Maybe there’s something you want to save for or maybe you want to pay down your debt. Does your financial resolution fit one of the descriptions above? Do you have a plan on how you’re going to realize it?


Why not turn your resolutions, financial or otherwise, into goals instead? A goal is something much more tangible. It’s something that you’ve planned for and that you have steps in place to realize.


How do you turn a resolution into a goal? Just think about it. If your resolution is paying down debt, think about what that entails. Decide on the best debt repayment plan for you life, decide how much extra a month you can afford to use towards paying it down. Then, once you’ve decided on a plan, begin taking small steps to start moving toward that goal.


Of course, not all goals are successful just because you’ve planned them out. However, they will be much more likely to be successful than unplanned resolutions. If your New Year’s resolutions are important to you, don’t set them aside until 1/1/13.



  • Disclaimer: The information on this blog is not meant for specific financial advice. The ideas/opinions stated are not suited for everyone, and readers should use their own judgment in applying them in their financial lives.