As the clock strikes midnight to mark New Year’s Day, this is the time that we often begin to reflect on what we have achieved over the course of the last 12 months. Part of this reflection can also make us focus our attention on specific aspects of our life we may feel that we have neglected up until this point.
As such, roughly 41%* of us find ourselves devising a New Year resolutions list often with the aim of restoring a sense of balance in our life – this can entail a shifting of our priorities through the redistribution of time, effort and sometimes money.
According to TwitterAU, here were the most tweeted New Year resolutions in 2017 by Australians:
Top 10 New Year Resolutions in 2017
|4||Learn something new|
|6||Get a new job|
|7||Volunteer/donate to charity|
|8||Get a boyfriend/girlfriend|
Other common New Year resolutions tend to focus on enjoying life to the fullest, getting organised, reducing debt and spending less to save more.
Unfortunately, if you read our article, “Does a New Year Resolution set you up to fail?”, you will find that 25% of us ‘throw in the towel’ within the first week of making our resolutions. This percentage steadily increases with the passage of time (i.e. 29% in two weeks, 36% in one month and 54% in six months) – and, when all things are said and done, 88% of New Year resolutions fail. This may help to explain why our resolutions tend to be the same year after year.
As such, when establishing or reviewing your existing New Year resolutions list, it’s important to:
In addition, to the list of resolutions that you may have already set, give thought to any areas of your personal finances that may also require some attention. Here are a few personal finance-related resolutions you may wish to consider:
Focusing on areas that need attention and making the required changes in your life can sometimes be difficult, especially when things have become engrained in your daily habits; however, the results can be truly amazing when you look back at where you started and what you needed to do to achieve the goals that you set for yourself.
When it comes to areas of your personal finances, remember that you do not have to tackle these on your own. If you need help, please do not hesitate to book a time to have a chat with us.
* J. Norcross., M. Mrykalo., and M. Blagys. (2002). Auld Lang Syne: Success predictors, change processes, and self-reported outcomes of New Year’s resolvers and nonresolvers. Journal of Clinical Psychology, 58(4), pp397-405