The holidays are over and we have rung in the New Year. Now it’s time to get back into the swing of life and think about what resolutions that we want to make for ourselves in the New Year. The problem here is that most people that make their New Year’s resolutions and don’t even stick to them through the month of January (notice the use of don’t and not can’t). Why is that? And what can you do to not fall into that trap?
First, I love to hear people ‘dis’ making resolutions in January. As if it has somehow become unfashionable to make your goals in January. The reason this scientifically DOES work is because of the fresh start effect. The fresh start effect shows that people are more likely to take action towards a goal after temporal landmarks that represent new beginnings. This is why you never want to start your new diet until Monday. January 1st marks a momentous the start of an entirely new year where you get a fresh start. The possibilities are endless.
If everyone chooses goals that are important to them and we have a great temporal landmark, why don’t people stick with their goals? There are two main breakdowns after we have set our goals. We don’t have a vision, or we don’t have a plan. If you can’t truly envision what your life would look like when you have accomplished your goal, then you will have no source of motivation to push past the uncomfortable elements of change that are required to meet your goals. If you can’t close your eyes and picture confidently walking along the beach in a bathing suit, then why are you going to choose celery over chips? What is going to get you out of your warm cozy bed to get to the gym before work? To help combat this I recommend all my clients write a letter to themselves five years in the future. This letter is written in first person to yourself. It should be at least two pages typed and should touch on all aspects of your life including: Family, health, career, relationships, spiritual, financial, lifestyle, and community. Whatever your dream is DREAM BIGGER and get really specific. If someone else read this letter it should sound almost like bragging. The goal of this letter is to help you truly envision your future and it activates the reticular activating system of the brain whose job it is to help you find things. It’s science.
The second is that you don’t have a plan to accomplish your goal or metrics to let you know if your plan is on or off track. Create your goal, set a deadline, create tasks that you must to each day, week, month etc. in order to accomplish your goal and a way to track your success. If you want to loose 10 pounds then you might say limit calories to X amount per day and work out three times per week. If you record your metrics daily then you will quickly know if you are on or off track and can right the ship to stay the course.
I am an extremely goals driven person and working through this process is also how I ensure that my clients are setting themselves up for success. If you have questions about hitting your financial goals please don’t hesitate to reach out. For a few recommendations on some financial goals you can set for yourself in the new year check these out!
Financial Goals:
- Confirm that your retirement savings is on track
- Update your estate planning (Wills, guardianship, trusts etc.)
- Ensure that you have an appropriate emergency fund
- If you have kids and want to save for college… stop procrastinating and start saving strategically today (you’ll thank yourself later)
- Evaluate your insurance coverage: umbrella, home, auto, life
- Set clear financial goals such as a vacation fund, new car, having a baby, or getting a new pet
- Get healthy – your health is your wealth
