Why so Many People Make but Don't Keep Their Fitness and Finance Resolutions - and How to Keep Yours

Maury Schneider - MLS Financial Planning

A new decade has finally arrived and everyone will be making their resolutions and claiming that they will never break them. In reality, many people break their resolutions, but why is that? One of the biggest reasons we don’t stick to our resolutions is that we over-commit by making our resolutions unrealistic. Remember, when making your resolutions you want them to be reasonable enough that you can actually stay true to them. 

4 Tips To To Help You Keep Your Financial Resolutions: 

1. Come Up With A Specific Plan 

Sit down and really think about what you want to achieve and how you can achieve it. Whether it’s fitness or financial goals, it all starts with a strategic plan. Set clear goals and a timeline for how you are going to achieve them. Starting with a plan helps hold you accountable. 

2. Enjoy The Process 

Who said that sticking to your resolutions had to be unenjoyable? Make it fun to stick to your plan! Find others to join you in your resolutions and make it an activity. Find friends to go to the gym with you or to make budget sheets together to help you stay true to your resolutions. Keep in mind your goals and why you chose your resolutions in the first place! 

3. Track Your Progress 

If you don’t keep up with how you are doing with your resolutions you’ll likely lose touch with them and fall off the wagon. Keep a journal of how well you are doing with your resolutions. Not only will this help you reflect on how you have been feeling about your resolutions, but it will always help you hold yourself accountable. 

4. Look For Support 

Find a few trustworthy friends and family members that can help by holding you accountable. This is an essential part of keeping your resolutions. If friends and family see that you are struggling to stay true to your resolutions, they can interfere and help you get back on track so that you can achieve your goals. 

Despite popular belief, keeping your resolutions is possible. If you commit to sticking to them, you can do it! You’ll be surprised how easy it is to stick to them if you set up a strategic plan, make it fun, track how well you are doing, and find support with friends and family. Make this the first year that you prove to yourself that you can do it. Go to the gym as much as you said you would. Save as much as you claimed you would. Go do it! You’ll thank yourself later for sticking with it. 

At MLS Financial Planning, we believe in

Education - We educate you along the way, so you gain independence and confidence surrounding your financial life.

Understanding - While education is very important, it's equally important that you understand what you're doing in your financial life.

Simplicity - In a complex world, simplicity is at the root of our thinking.

Fun - It's also important to have fun along the way.

We also believe that all of the components of financial planning (cash management, investment planning, retirement planning, insurance planning, tax planning, education planning, and estate planning), are important, but not everything has the same level of impact on everyone at the same stage of their financial life. It’s about putting the most effort in the area that has the biggest impact, so you get the best outcome. In our opinion, for most people, between 50% and 75% of their ability to become financially independent is driven by having a great cash management program with coaching.

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This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

By Maury Schneider - MLS Financial Planning

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