Tips for Resolutions

As the New Year approaches…

Every year millions of people set new year’s resolutions.  However, very few can stick to their resolutions long-term.  A study done by the University of Scranton found that 23% of people quit their resolution after 1 week.  Only 19% stick to their resolution for at least 2 years.

As advisors, we want to help you succeed, not just financially, but with everything in life.  So here are some tips for sticking to your resolutions.

Know Your “Why”.  Many people set a goal but their why is “just because”.  If you don’t know why you are doing something, and that why is not a driving force, you are less likely to do it.  An example of a resolution with a good why is: I want to lose weight and be in shape so that I can play with my kids/grandkids without being out of breath quickly.  Your kids/grandkids are now motivating factors in your goal, and you are more likely to do it for them.

Setup Accountability.  In our experience, you are more likely to succeed at anything if someone, or something, is there to hold your feet to the fire.  Partner with a family member or friend that can help nudge and push you to your goal.

Plan, Plan, Plan.  We can all agree that one of the biggest reasons for not reaching a goal is that we don’t plan how to get the goal.  We want to lose weight, but don’t have a diet and exercise plan.  We want to go on a big vacation, but don’t plan how to save up for it.  Take the time to plan out the details of how to reach your goal.

We wish you all a Happy New Year and may we all be in the 19% to accomplish our resolutions.