|By Sarah Carlson, CFP®, CLU®, ChFC®
New year's wishes are something we love to give and receive. To act on the ones that were bestowed upon us that strike a sense of urgency to achieve them means that change is inevitable. Growth is optional. How we learn and grow from it is completely up to us.
Making changes with our finances to guide us toward financial freedom remains one of the top new year's goals. At the same, many people fail their financial new year's goals. We've seen plenty of popular new year captions, quotes, and wishes related to money that fires up our motivation. However, people tend to slip as the year progresses.
Establishing strong seeds is vital for accomplishing your financial new year's goals. Below is a checklist to help guide you on your journey:
- Time. It's important to set aside time daily. Set your alarm 30 minutes before you would usually wake up, or schedule in time through your busy day to sit back, and allow yourself to recharge and be ready. Find the time that works best for you and utilize it as a catalyst for change.
- Space. Pick your creative spot: find a place that feels right to you. Maybe it's a coffee shop or a reading nook at home, whatever space you decide on, make sure you are comfortable there, can be yourself and create. Next, get a journal that can help you navigate and document your journey. It's important to be able to reflect back on your journey and see just how far you've come.
- Security. Pick a spot to keep your personal journal tools so you can leave and come back with ease. This could be a special box or a file, we recommend picking a place that others won't be tempted to disrupt.
- Commitment. Draw up a personal contract with yourself and agree to honor your commitment to the journal project for a minimum of eight days.
- Prioritize. For eight minutes, make a list each day of as many goals as you can think of. Next, rank each goal by order of importance and create a corresponding timeline for that goal.
- Write it out. Make a chart of eight days, and each day make a list of the top eight items on each day. This could consist of thoughts, ideas, goals, tasks, or really anything you feel is worth noting.
- Make it a mission. Create a personal mission that consists of the top eight goals from your personal journal. Include the goals of the most importance and be sure to denote the time frame.
- Self-love. Write a letter to yourself. Use this as an opportunity to acknowledge where you are and why you want to take this journey towards self-love. Be sure to include the top eight goals for your journey and the corresponding time frames.
Making new year's wishes a reality will take serious commitment. If you follow through, you'll realize that all of the discipline and challenges that were presented during your journey were worth it. Let the magic begin!
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Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.
All investing involves risk including loss of principal. No strategy assures success or protects against loss.