‘Make sure to account for the constraints of reality, such as inflation or continued living expenses'(Image credit: J Studios / Getty Images)The start of a new year may seem like a good time to make all those changes you have been putting off — whether that means a healthier diet, less screen time or better financial habits. But all too often, come February, those well-intentioned resolutions kicked off on New Year’s Day have fallen by the wayside. So how can you actually make them stick this time around? And is it even worth trying?”Despite public perceptions that such resolutions are a waste of time, some findings suggest they can help people achieve their goals, at least for a while,” said The New York Times. One study published in The Journal of Clinical Psychology found that “almost half the people who made a New Year’s resolution reported being successful after six months, compared with 4% of people who acknowledged a behavior they wanted to change but had not made a resolution,” said the outlet.It may be that resolutions themselves are not the problem, but rather how we tend to approach them. While some grit may be necessary, “because of human nature, simply relying on self-discipline to stick to your money resolution isn’t wise,” said Jeff Kreisler, a managing director and the head of behavioral science for J.P. Morgan Private Bank, to the Times. Here’s what to do to achieve your financial resolutions instead.Subscribe to The WeekEscape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
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Sign up for The Week’s Free NewslettersFrom our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.1. Make your goals specific and concreteWhile it may feel tempting to tackle all of your financial pain points at once, often goals work better when they are specific and concrete. “Instead of your goal being ‘to be financially comfortable,'” you might try to drill down to more tangible action steps, like “to have no debt except your mortgage and a certain amount in your retirement fund,” said SoFi.It is also helpful to keep your aims both “achievable” and “realistic,” said the outlet — otherwise it is all too easy to get discouraged and throw in the towel. As you set your goals, “think about your lifestyle, income potential, cost of living and other key factors, and set reasonable goals.” Finally, “make sure to account for the constraints of reality, such as inflation or continued living expenses,” said SoFi.2. Consider an accountability partnerWhile financial resolutions may seem like they would be a solo endeavor, you do not have to go it alone. You may even stand a better chance at succeeding if you team up.For example, you can pick a pal to hold you accountable. Put a “regular ‘money date’ with your friend
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