We all make them. It’s something that makes us glimmer with hope as we pull our socks up a little higher, and actually take time to blow-dry our hair the morning of January 2nd, as, after all of the holidays, we are each given a fresh page of a book have titled ‘2013’.
Many of us will make promises to ourselves that we will work harder, drink less, work out more, and save more money. We will make that appointment with that financial advisor our mom has been bugging us to meet with and we might actually find out what ‘RRSP’ really stands for, and how it is somehow imperative to future savings plan. We will take up new interests, say yes more often, volunteer, all in the game of broadening ourselves and making ourselves a better person. We may ever start donating charity.
This is all great – and to those of you that have made any resolutions, you are already halfway to making it stick – the next half is building up and creating a new habit in your routine. This is where many resolutions go to fail. This is where I offer you a chance to really look at what you want to implement right now in your lives, and make it something that you are really excited to accomplish. Don’t let the major news outlets tell you what is important to you, because frankly, sometimes by listening to their investment advice will have you bored and splendid your retirement money on a wonderful steak dinner at Tom Jones, explaining to your advisor on the phone that your dog is just feeling terrible, and have to cancel your appointment with him for the 3rd attempt, all when you don’t even have a dog.
I propose you look at what excites you. Don’t change your resolution so much if not desired. For example, if your resolution had to do with money, than stick to that theme. If it has to do with saving, than look at what will really motivate you to save, same to investing – the stock market and mutual funds are your typical choices. There are however, infinite ways to invest your money, and you can really choose what you want, and where to put your money, before defaulting to the bank’s choices. If it is debt, make it a priority to make your credit cards inaccessible tell your enablers that you are really focusing on not spending money, and how difficult it might be, and hopefully they will be able to understand where you are coming from.
Start with what you are interested in, and create your resolution around that.