It’s Resolution Time- At the start of each year, some
people set New Year’s resolutions and there is a lot of media coverage about
them. Common resolutions are healthier eating, increased physical activity,
saving money, decreased debt, improved personal relationships, quitting
smoking, learning a new hobby or skill, and reading more.
Not Everyone Makes Resolutions- Other people avoid
making resolutions completely because they never produce the desired results.
Statements like “I always break my resolutions” and “I always give up by
mid-January” are commonplace.
Resolutions Require Change- One reason that New
Year’s resolutions are so difficult to keep is that they require people to
change their behavior. Examples of behavior changes include eating less or
exercising more to lose weight and decreasing spending or earning more income to
reduce debt or save money.
Change is Hard- People tend to resist it because it
requires a lot of mental energy, willpower, and motivation to do things
differently. It is much easier to stick with the status quo, especially if you
do not have a clearly defined action plan with detailed steps for how to go
about changing.
Try Changing Habits- Whether you call your personal
goals New Year’s resolutions or not, there is a better way to achieve them: create
good habits. When an action becomes a habit, you do not have to remember when,
where, why, or how to do it. It gets done because it becomes part of your daily
routine.
Stack Good Habits- “Habit stacking” incorporates
a desired behavior into something that you already do. Health-related examples
are going to a gym on the way to work and flossing your teeth after brushing
them. Financial examples are dropping loose change into a jar when you walk in
the door and depositing the tallied up loose change into a savings account.
Do
you want to improve some aspect of your life in 2020? Create good habits. Best
wishes for a happy, healthy, and financially secure year in 2020.