Let’s talk about resolutions.
4 January, 2023Let’s talk about resolutions.
So it’s January and you’re having that annual discussion with yourself: what are my resolutions going to be this year?
It’s perfectly fine if you’re reading this and you have no intention of setting some resolutions for 2023, but the chance to start a new year with some fresh goals can be incredibly empowering and motivating. Any bad habits or broken promises from 2022 can now be forgotten about, and with all that went on last year, who can blame you?
2023 is upon us and the new year is full of opportunities. Establishing some positive lifestyle goals could very well be the first step in making this year one of the most productive yet.
Usually, you start off by saying you’ll exercise more, go to bed earlier (we’ll see about that) or eat healthier. We’ve all been there. Whether you’re someone who likes to set these types of goals or not, why not consider setting some money-related objectives? Sure, it might not be quite as attractive as learning a second language, but it can be just as beneficial.
1p Challenge
A fun example could be the 1p challenge which involves starting off by saving 1p on the 1st of January, 2p on the 2nd, 3p on the 3rd etc. By Hogmanay, you’ll be putting away £3.65. Sounds doable, doesn’t it? The amazing thing about this easy savings hack is that by the time you are putting away anything more than 50p a day, you’ll already be in such a good habit of doing it that it will become second nature. By the end of the year, you could end up with nearly £700!
Other financial resolutions could simply be to find a way to cut down on the spending that doesn’t serve you. How much is that extra can of coke at lunch or glass of wine at night costing you a year? Seriously, how much does it cost you? Work out just how much the small things are adding up to and see what you could afford instead. The more detail you go into with a goal, the more motivated you’ll be. Saving ‘more money’ might be motivating to you in January but by March you might need the extra motivation that you’ll be saving enough to take you on a weekend away in a nice hotel. If you want to save more, be specific and remember that vague goals = vague accomplishments. Technically, saving more could mean 50p more than last year and that’s not the noticeable improvement we’re after.
Saving money requires discipline, but it doesn’t always have to be about restrictions and abstinence and a general lack of enjoyment. This year, your goal might not be to save money but rather to spend it more wisely. You might want to spend your cash this year on something that will allow you to further your career, treat your family, or simply become a happier person!
You don’t always need to set goals to achieve things but it does help to set you off on the right foot and stay motivated! Let’s take an upbeat perspective to this year’s resolutions and make our money work for us.
#mymoney #myyear #financialempowerment
