Be Smart About New Year's Resolutions
Did you know that only 8% of the people who make New Year's resolutions actually achieve them? This could be due to people setting unrealistic goals or setting no goals at all. If you want to make a resolution in the New Year and actually stick to it, consider setting a "SMART" goal - one that is specific, measurable, attainable, realistic, and timely.
Let's say that for your goal, you would like to take three exercise classes per week for 60 days. If you achieve your goal at the end of that 60 day period, you should reward yourself with something worthwhile. Then, keep your original goal going with consecutive SMART goals after you complete each one. Remember that when you set your SMART goal, you should determine your reward then, as well. That way, when you're five weeks in and tempted to throw in the towel, you can set your sights on that specific reward and remind yourself how close you are to getting it.
How to Make & Keep Your New Year's Resolutions:
S - Be specific.
Specific resolutions make them more concrete and exciting. General resolutions are static and often lack inspiration.
M - Make them measurable.
Determine benchmarks against which you can determine progress. Without measurable benchmarks, you can't gauge progress and may not feel motivated to continue.
A - Make them attainable.
Choose resolutions that are important to you and actually inspire you to take action.
R - Be realistic.
You must be willing and able to work toward something concrete. Set yourself up for success with a resolution that you are realistically able to achieve.
T - Be timely.
Identify a solid start and finish. Without that, you will have no sense of urgency to accomplish your goal.
Financial goals? - Theres' an app for that.
Check out these apps that can assist you with your financial planning:
Mint® - Mint.com is an app that helps manage earnings, spending, savings, and budgeting. Mint also syncs all your accounts - from bank accounts and mutual funds to your 401(k).
Good Budget™ - Divvy up your monthly budget into virtual envelopes and understand your spending habits.
BillGuard - Understand your spending habits and protect your cards from fraud and unauthorized transactions.
PocketExpense - Combines financial accounts, categorizes transactions, tracks bills, sets budgets, and helps to achieve savings goals.
HomeBudget - Expense tracker designed to help track expenses, income, bills due and account balances. Breaks down analysis of expenses and income.
Learn more about these and other budgeting and finance tips at CNBC.com. These tips are brought to you by the helpful and proactive team at HealthSolutions.
TrueNorth Financial Strategies
Before you seek a loan from your 401(k), you may wish to consider other loan sources or consult a financial advisor. For more information and financial guidance, please call TrueNorth at 1-800-798-4080. Our financial advisors would be happy to schedule a consultation with you and your loved ones to make sure the things that matter most are protected and accounted for.