The New Year is Here: Make Better Resolutions in 2019

Community Manager

From starting a workout plan to saving for retirement, roughly 80% of New Year’s resolution fail within the first month. Of the people who keep their commitments through February and beyond, only 8% ultimately reach their goal. Why is that? If you ask 100 people, you’re likely to get 100 different answers. Making a resolution is easy, but sticking to it? That's a different story.


Here are five simple suggestions to help start the new year strong. 


Be Real

If you want to have 3-6 months of living expenses in an emergency fund but haven't saved much over the last year, start with setting aside $20 per paycheck. Realistic goals pave the way for quick wins and consistent progress.


Be Specific

When it comes to setting goals, it's tempting to speak in generalizations."I want to be smarter with my money." The danger of statements like these is that they can't be measured. Being smart with money is tough to quantify. Paying an extra $50 towards credit card debt is much easier to track.


Be Consistent

Lasting success isn’t a sprint. Identify your goal, break it down into smaller action items, and take consistent action towards accomplishing those every day.


Be Accountable

If nobody else knows about them, our best intentions can be our worst enemy. It’s easy to say you want to save $100 each month. It’s also easy to rationalize why you missed a month or two. Ask a trusted friend, family member, or co-worker to check in and help you stay accountable.


Be  Flexible

 While a new year seems like a great time to make a fresh start, let's not forget that in reality, it's just another day. Every day offers the chance to correct mistakes and build on successes. When making your resolutions, allow for some flexibility, the end goal is for improvement, not perfection.


Ask the Experts

Looking for some expert advice? BECU offers free consultations with trained specialists to help you make decisions and take actions on savings, budgeting, and debt management in real-time during a confidential one-on-one session. Schedule an appointment for a Financial Health Check today!


1 Comment

This is general at best. I’ve been helping people (re)build credit, become FTHB, survive family chaos (Divorce and child custody battles) all not for profit for years. The age of budgets and attaining financial goals is lost on people. They fail to launch unable to find the first step or a clear path to steps 2-10. The applications (mobile mostly) that are out there walk people Thru auto options but don’t TEACH people about DTI, paying yourself first, learning to track income and out go, or why emergency funds are needed. People statistically wont stick to goals if they don’t understand why goals are put in place. It’s silly but I would hope a financial organization somewhere would start doing community outreach educating next generations and older generations on topic and that there’s no time like today to start. 

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