New Year’s resolutions — PF style
You’ve got just a few hours left if you’re going to make New Year’s resolutions. Do you need some guidance beyond the standard lose weight, save money, stop smoking stuff?
Here are a few tips from the personal-finance blogosphere. For starters, remember that resolutions are more likely to work if they come in bite-size pieces or, as Ron at The Wisdom Journal says, “You can tackle most financial resolutions much more easily by taking them in small chunks.”
Before we get to the rest, do you think New Year’s resolutions are worth making? We don’t. We do have goals. But we agree with Justin Wolfers’ Theory No. 7 about them, posted at Freakonomics last year: They’re “simply hot air, stated at around 11:55 p.m., on a night involving plenty of alcohol. They are rarely respected, and there is no way for them to be enforced.”
Or, as Mary Pilon observed at The Wallet, if you’re planning to spend less, pay down debt or work more overtime in 2009, you’ll do it because you have to – not because of New Year’s commitments you make.
But if you’re really determined, Geoff Williams at WalletPop suggests you have no more than 10 goals — mostly the readily achievable type — so you’re not overwrought with failure at the end of the year. He also suggests partnering with a “goal buddy” to whom you regularly report.
On a similar note, Matt Wallaert from Thrive offers “7 tips to stick to your New Year’s resolutions” as a guest post at Moolanomy. It includes this wisdom: KISS – “Keep It Simple, Stupid. I mean it,” Matt writes. “While the behaviors that lead to your goal may be complex, the goal itself needs to be simple. You can’t hit the target if you don’t know what it looks like.” (While you’re at Moolanomy, we also recommend Pinyo’s “9 year-end money moves” to put this year’s financial matters to rest.)
More good reading: Our partner blogger Trent Hamm presents a series at The Simple Dollar about how to set realistic financial goals.
What goals have bloggers embraced for next year? Here are a few samples:
- “Paidtwice” is replacing the car from hell, which has nearly depleted her emergency fund.
- Among those “small chunks” recommended by Ron are reading a PF book, playing one financial game with yourself, and making a list of your debts.
- File this one under “stop wasting time”: Bob Sassone at TV Squad writes, “I resolve not to watch ‘American Idol’ this season.”
- Jason at Frugal Dad plans to downsize to a smaller, more affordable house and pay off the mortgage in 10 years.
- Susan Wagner at BlogHer has resolved not to shop until she has worn every season-appropriate item of clothing she already has (and she proposes a clever way to keep track of what you’ve worn).
- “Escape Brooklyn” is escaping Brooklyn — finally. She resolves to sell her co-op and get a job in the Twin Cities that pays as much as she’s making in New York.
- Andrea at Fools and Sages plans to save a day to build that essential emergency fund.
- “Ambercouric” at Becoming Debt Free in 2009 says, “As of today I am a cash-only girl.”
- Janelle at Now Play Happy resolves to visit the McDonald’s drive-through and Costco only once a month.
- Why stop with a few goals, some bloggers said, and, like “Beachgirl” at Beachgirl’s Budget Blog, came up with 109 things to do in 2009.
Related reading:
9 financial resolutions for 2009
10 resolutions to fix your finances
The best financial advice ever
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