Jan 16 2012

New Year Resolutions

By: Allen G. Yee

‘Tis the season, right?  After about a month of indulgence, without a doubt, there were countless resolutions made as the New Year began a few days ago.  Resolutions such as losing weight, quitting smoking, spending time with family, working/studying harder, etc. are made and broken in a short period of time for many.  New Year’s Resolutions begin with the best of intentions and are created through a healthy outlook in one’s life and a desire to change.  The process is fairly basic and motivating; learn from your past and change for a better future.

Unfortunately, if success was that easy, resolutions wouldn’t be broken as quickly or often as politician’s promises during their campaigns.   Nor would one be repeatedly setting the same goals year after year after year.  The real question is why are so few successful and the majority unsuccessful in their desires?

I really think if you change your thinking/approach the probability of success is greatly enhanced.  I consistently preach to my kids that the definition of insanity is “doing the same thing over and over again and expecting different results.”  Think systems, for example which diets are most successful?  Programs such as Weight Watchers, Jenny Craig, etc. have greater lasting results over one’s resolve to eat less and/or more healthy.  The same goes with all other resolutions.  Although in this post I’m referring specifically to finances, I believe this mindset can be applied universally to any situation.

To begin, I believe one must have a strong desire and motivation to be at a better place, for both now and in the future.  You must be committed and willing to change for a chance of success.  Remember the definition of insanity?  Those who succeed are unwilling to quit; they don’t allow things to get in the way or have apathy in what they must do.  We all have the desire to be better; that’s what motivates us to make resolutions.  However, what most lack is a plan, specifically designed to help achieve their goals.

I believe that planning must begin with a discussion of your mission, vision, and values.  What and why are you trying to accomplish each specific task?  This discovery of yourself (and spouse) should lead to clarity.  Clarity in what you want, but most importantly, why you want it.  Knowing what you want, and why, can put you in a place much farther than ever imaginable.  Goal setting can now begin, for both short and long-term time frames.  Everything else is fairly academic.

Change is hard, and I understand your reluctance, but imagine where you will be in 10, 20 years without change?  Is that where you want to be?  If not, its time for some change.  You deserve credit for recognizing the need for change but this is just the beginning, you need to constantly remind yourself of your mission, vision, values, and goals and be prepared to adapt your finances accordingly in order to not only realize your dreams, but make them your reality.

By Allen G Yee • From Allen's Desk, Personal, Retirement • 1 • Tags: , , ,