In an effort to forego the limiting restrictions of “resolutions” for the New Year—which can, and usually do, fail by this point in the year—there is an urge instead to commit to an intention, maybe a word or an idea that can only be successful in varying degrees. You are probably committing to some intention or resolution for the New Year, whether in regards to your health or other aspects of your life. Why not set an intention for your financial wellbeing as well?
Whether you’d like to pay down an outstanding debt, get caught up on your bills, save for a family vacation or other large goal, the New Year is your chance to set your intention and stick to it.
Reflect on last year:
Any worthwhile goal begins with a little self-reflection. Ask yourself these questions:
- What did I accomplish last year in terms of financial goals?
- What did I learn about my spending habits? About saving?
- How do I feel when I think about my financial situation?
- What were my healthiest financial moves this year?
- What am I most proud of? What am I grateful for?
Look toward the future:
Now, without passing judgment, think about the following questions as they relate to the future:
- How do I wish I felt when I thought about finances?
- When I imagine the end of the year, what do I wish I would have accomplished?
- How do I imagine this accomplishment will make me feel?
- What do I look forward to being able to afford in the future?
- What do I think financial freedom will feel like?
These looks toward the future are some of the most powerful mental catalysts for a change. if you can keep reminders of your intention around you in the New Year, you’ll succeed more readily at your goals for a financially sound future.
At Cinch, we know that even a small degree of success is worth the effort, and you are capable of building on these successes and moving in the right direction. That’s why we start small, with achievable goals, such as counting each day that you don’t use a particular credit card. Every day that you move toward leaving your debt behind is a day you are closer to your financial goals and to a bank balance that feels like freedom.