You Can Still Make that Financial Resolution

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Time Magazine listed the Top 10 Commonly Broken New Year’s Resolutions. Here are three on their list to which I think we can all relate:— Lose weight and get fit.

— Eat healthier and diet.

— Get out of debt and save money.

Sadly, this list represents some cultural insight into 1) the top needs of many Americans and 2) a lack of discipline in three key areas of life in the richest nation on earth.

Although we are well into [the new year], it’s not too late to make resolutions in those areas where you want to see improvement. And to help you, I want to give you some ways actually to achieve your financial or personal goals so that you can be among those with resolutions that are still intact at the end of the year.

Make a Specific Goal

Let’s assume that one of your resolutions in the area of personal finances is something like this, “I will get out of debt and save more money [this year].” That is a good resolution. But now you have to get some details in your plan. Your next step is to define how much you want to accomplish in each plan category and record them in the form of detailed, measureable goals. Here is an example:

“I will pay off $8,500 in credit card balances within 12 months so that I can be debt free.

“I will save $1,500 in an emergency savings account within 12 months so that I no longer have to rely upon my credit cards.”

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Source: Crosswalk | Chuck Bentley

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