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Do New Year’s Resolutions Work?

Do New Year's Resolutions Work

Do New Year’s Resolutions Work? Are you skeptical about New Year’s Resolutions? Isn’t it a way for gyms to increase their memberships? Really ‘New Year, New You?!‘ It’s just another day! How can you transform yourself overnight?

The truth is, you can’t lose 20 pounds with the blink of an eye, or get rid of debt overnight, but a recent study showed that New Year’s Resolutions do work with 46% of those making resolutions maintaining them past six months. To help you reach your resolutions this year here’s what to avoid when making resolutions and what to try instead.

1. Avoid: Ultimatums or Extreme Changes

“I’m not going to have any sweets: no candy, cake, or Blue Bell ice cream.”  That’s extreme and for someone with a sweet tooth, it won’t work.

Try This Instead: Moderation

Get rid of the all or nothing mentality and make small changes that you can maintain long term.  For example instead of giving up all sweets, try to drink less soda and more water.  Here are three easy weight loss tricks that also will help you get out of debt.

2. Avoid: Making Resolutions on a Whim

If you made your resolution when you were a bit tipsy watching the ball drop and counting down, it’ll be hard to have long-term success.  A passing thought isn’t something that you can maintain for a year-long project.     

Try This Instead:  Write it Down and Review on The Regular

Spend time mapping out and defining exactly what it is you want for the next year. For example, a common resolution is to save more and get out of debt. The best way to do this is to have a written plan. Instead of apps that just sync your accounts I use financial statements. Here’s a 4-part educational series that will guide you on your financial goals:

Run the business of you. Just as a Chief Financial Officer reviews the business annually, quarterly, monthly, weekly, and daily, you can too with your resolutions! Having daily ‘to-do’s’ will help you stay on track for what you want long term.

Need help staying accountable? Sign up for a one on one money coaching session. Here’s the details.

3. Avoid: Not Setting Resolutions

You’re teasing your friends who hit the gym the first week in January, but remember if you aim for nothing, you’ll hit it every single time. The people that absolutely don’t keep resolutions are the ones that don’t make them to begin with. 

Try This Instead: Give Resolutions a Go

Yes it seems like there are one too many self-help workshops or goal setting guru’s, but give resolutions a try this year. If you want changes in your life whether it is with health, money, or relationships then use this time to make changes.  William F. O’Brien wrote a poem titled, “Better To Try And Fail Than Never To Try At All.”

If you’ve been wondering, do new year’s resolutions work, give them a try this year!

best money class ever carly michelle

Hi! I'm Carly

I’m a Finance grad and creator of Best Money Class Ever, a 4-week live virtual personal finance class. I paid off $35,000 of debt and saved a nest egg of over $100,000 by age 26 (earning only around the median household income!).

If I can pay off debt and build savings at a young age, anyone can with a little education and solid plan.

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