🎊How to Make a New Year’s (Financial) Resolution – and Actually Stick to it!

Resolutions are tricky least of all because we set ourselves up for failure right away. We set lofty, if not gigantic, goals with no plan of how we’ll actually get to them. 

Then we get annoyed with ourselves for not keeping it and we can end up worse than before!

The most common resolutions are things like ‘I need to lose weight’, ‘I need to eat healthily’, ‘I need to work out more’ and ‘I need to manage my money better’. 

See what I mean? 

These are vague and they don’t help you at all. 

How much weight do you want to lose? And by when? What aspect of your eating do you want to change? How much do you want to work out? What aspect of your finances needs polishing? 

So it’s no wonder then that so few of us are any good at keeping our resolutions! 

After 1 week 75% are still keeping their goals. After two weeks this falls to 71%. And after just 1 month it falls to 64%. And after 6 months only 46% of people who made a resolution are still keeping it.

Finance goals for 2023
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There’s something we’re not doing right.

Why managing your money is a must 

With the cost-of-living crisis deepening and inflation reducing our purchasing power for the most in 4 decades plus massive layoffs and a looming recession, we’re gonna need to get real savvy with our finances.

Our money is being pulled in a million directions. Everyone wants a piece of it! 

So unless you make a conscious effort to pull your money in your direction, things can get pretty stressful real soon. 

This year, we’re gonna make money goals — and stick to them. 


Let’s jump right in. 

#1 Start small 

This one’s the biggie. We overload ourselves with loads of New Year’s resolutions. 

Within 1 year, we expect our investment account to look like Buffett’s, with a bod like brad.

That’s unrealistic, chaps! It’s no wonder we fall flat on our faces around 2 months later.

Don’t bite off more than you can chew. You’d much rather pick 1 or 2 things to focus on and nailing them than trying to do loads. 

When it comes to your finances, pick the one thing that keeps you up at night. 

New Year's resolution
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And work on that. 

Don’t focus on what you still have to do. Focus on what you’re doing right now. 

For some of you, it might be that mountain of debt. For others, it could be you haven’t built an emergency fund. Or perhaps your investment account is as dry as your bank account.

You know what you gotta do!

#2 Get specific.

This is the nitty gritty of your goal. 

Get right down to it and start putting some context around your money goal. 

Some questions to ask yourself: 

  • How much do I want to save each month? 
  • What am I saving for? 
  • What’s my timeframe? 

#3 Break it up into bitesize chunks 

Now that you’ve got real specific you can start chopping up your goal into loads of tiny (and edible) pieces. 

The smaller the chunk, the easier it’ll be for you to keep eating it. 

Make your goal too big and you run the risk of failing too soon and getting your mojo back could be tricky. 

Make it as easy as possible for you. 

Set yourself up for success. 

Success fuels success. 

Personal Finance goals for 2023
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#4 Have regular check-ins

This could be weekly/monthly/quaterly — you choose. This is personal and it’s gotta work for you. 

Though, depending on the goal, you’ll need more/less check-ins.

To get better at investing, you might want quaterly reviews to see how you’re getting on (as you can’t tell after 1 week!) but with budgeting, for ex, you might want far more regular check-ins to make you’re on-track and that you’re not over-spending. 

#5 Reward yourself! 

The best bit!

When you’re on track and you’re hitting your target, don’t forget to treat yourself.

It doesn’t have to be big but make sure that you’re rewarding yourself for your efforts.

Next year, you can hopefully look back at your money achievements and give yourself a whopper pat on the back. 

Go get ‘em. Bring on 2023!

Disclaimer: This blog is not investment or financial advice. It is my opinion only. This blog is not a personal recommendation to buy/sell any security, or to adopt any such investment strategy. Always do your own research before you commit to any investment