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Happy New Year!

New beginnings often come with renewed optimism of a better you – whatever that may be.

Perhaps you want to build healthy habits, travel more, or learn something new.

My sincere hope is that you’ll make 2024 the year that you’ll take financial control of your life… that you’ll slay that debt that’s keeping you up at night, you’ll build wealth so you can achieve your life goals, you’ll create a healthy empowered relationship with money and most of all, you’ll invest in yourself to build the financial skills you need to thrive.

And yet I know all about the doubts that creep in, and how easily procrastination kicks in.

In fact, studies show that only 8% of people who set resolutions actually accomplish them.

But that’s because they go about resolutions the wrong way.

If you don’t want to be that statistic, and if you actually want to succeed in reaching your financial goals in 2024, stop doing these four things.

#1 Stop Making Resolutions

Yes, I know the title says implies how to keep your resolutions so this may sound counter-intuitive but that’s exactly what you have to do.

While a resolution is about making a commitment to do or not do something, they are often very vague – a wish, a hope, without proper thought as to how one will achieve it. Sticking to something you want takes visualization and a plan.

So do this instead. Set a goal and declare it.

Think of one money goal you want to prioritize and achieve in 2024.

ONE, and only one.

If you find yourself successful in progressing towards this goal after 60 days, you can add another one but until then, stay focused. Willpower is finite and taking on too many new goals can actually derail your progress completely on those down days. And yes, you will have those days.

When you know what you want to commit to, then declare it. Declaring your goal will make it four times more likely that you’ll achieve it.

The process will help you articulate exactly what you want and let others know so they can encourage you or offer insight. More importantly, you’re putting it out there for the universe to reciprocate. It’s the law of attraction. Make it work for you,

#2 Stop Undermining Your Abilities

The reason why many people give up on their money resolutions is that they underestimate their resourcefulness to do what needs to be done, and they think they need to nail it perfectly or not bother doing it at all.

There’s nothing that will kill a dream or goal more quickly than doubt and perfection, which is really a fear of failing in disguise.

You don’t need to have all the answers immediately, or for all the “stars to align” to achieve something. But you do need to exercise a bit of curiosity and persistence.

If you need to learn something, there are no excuses. Google is your friend. There are a handful of great personal finance books. Speak to your financial advisor.

If it’s support from a friend or family member you need, find your tribe. Someone who has your best interest at heart but who will also be brutally honest with you and hold you accountable.

Stop the doubt and just start – get the ball rolling – gain wisdom, improvise, improve and conquer.

Resolutions quote

#3 Stop trying to please everyone

When you prioritize everyone’s happiness ahead of yours, or when you aim to seek approval from others, you will severely compromise your ability to commit to the money goals that matter to you most.

The biggest reason why people get into too much debt is that they buy things they don’t really value or overspend on the big house or fancy car – to consciously or non-consciously seek admiration from others. Also, many people I know admit that they forgo managing their money or asking tough questions about their finances to avoid feeling ashamed on some level.

Stop feeling like you have to justify your decisions to others. Have the courage to run your own financial wellness race.

When your peers see you succeed in tackling your greatest financial goals, they will commend you. I wouldn’t be the least surprised if you even inspire them to get a better handle of their own finances!

#4 Stop blaming others for your financial situation

If you want guaranteed failure in keeping your money resolutions, blame someone or something for your situation.

Blame is a destructive habit because it gives away your power and control to an outside ‘force’ when the reality is that the only one in complete control of your personal finances is you.

Yes, you have the power to decide when to spend and how much to spend, particularly on discretionary items. You decide how to invest in yourself and invest your money to build wealth. You decide how much time to dedicate in learning about your finances.

This doesn’t mean you won’t have crappy days or even setbacks. And you can’t control the stock market or the economy. But you can decide how you’ll set up your portfolio to manage the uncertainty. And you can decide how you’ll react to unforeseen situations.

I believe we all have the inherent power and wisdom to achieve what we want in life. Sometimes we just need that guidance and push. I hope this article is what inspires and encourages you to reach your most cherished financial goals this new year and decade.

If you found this article helpful and know of others it will help, please share it.

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