ST. CROIX INSIGHTS
2018 New Year Resolutions
BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC
Each year I make a couple of New Year Resolutions I’d like to fulfill. One I’ve had for years – drop more pounds. I’ve done well, but the remaining 20 or so have been the hardest. Thus, weight loss has made my list again this year. Many of you might also have that goal on your list, but I suspect saving more money or reducing your debt is probably also on there.
For many, money has always been a struggle.
It’s hard to balance our wants and needs. A great New Year’s resolution would be to understand our relationship to money. Our money values – good or bad – were established at a young age. Most of us learned about money from our parents and maybe we need to reset our expectations and have a reset in 2018.
I suspect no matter the resolution we’d like to fulfill has to deal with trade-offs or saying no today so we can say yes tomorrow. To save more money, we are saying no to “stuff” today. We are postponing our wants until a future date. We continue to learn to be content with what we have. Sometimes “no” seems to be the hardest word or action to follow through with.
I’m a big believer in visually seeing the goals I’d like to accomplish.
I’ve created a “Dream Board” for what I want to accomplish in my life. I have it in my home office so I can see it every day to ask myself one important question…” Are the decisions I’m making today helping me reach the goals I’ve set forth or not?” At times, I already know the answer is no, which means I need to reset my thoughts or actions to work my plan.
Accountability partner. Sometimes we need to share what we want to accomplish and not be judged. I know I’m that way. I have some big goals I’d like to accomplish with the time I have remaining. Everything I hear and read about strategies to help you reach your goals say you need to share your goals with someone. It needs to be someone that you respect and wants to help you reach your goals, and won’t judge you no matter how crazy your goals might be.
A great New Year’s resolution would be no new debt!
No new car loans, no more adding to the credit card, no buying that oversized home because long-term interest rates are low. We all have the ability to be debt free. Sure, it’s not going to happen overnight, but it certainly can be achieved before you or I retire. Remember, debt limits your future lifestyle.
If you seek an accountability partner in 2018 to help you reach your goals, I’d be honored to be that person. Or if you’d like help in creating a dream board, I can also help you with that.
Here’s to you fulfilling your 2018 New Year Resolution!
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