How to Keep Your Financial New Year’s Resolution!

You’ve decided to save more money this year. But what happens? You go out, something is on sale for 50% off, you buy it, and there goes your budget!


Yes, a majority of people (who make new year resolutions) fail to keep them but Joseph Grenny, co-author of Influencer: The Power to Change Anything said that there are strategies you can implement if you are struggling with making changes in your financial life.

What’s your motivation? Let’s say that your goal is to save more money? Why? Do you want to establish a college fund for your children? Pump up your retirement account? Take a vacation of a lifetime? It really does matter that you be specific as to why you want to save more money.

Do you need more help? One of the excuses is that “I just don’t know what to do!” Read a book (save money by going to the library) or take a class (many are offered free) or attend a seminar to increase your financial savvy. There are hundreds of resources available to you.

Can you count on the support of family & friends? Steer clear of negative people or those who try to sabotage your goals. You know who they are! Find a friend or family member who will be your “buddy”. Determine the dollar amount you want to save on a monthly basis and have a ‘contest’ with your buddy to see who reaches the goal. Attend a financial seminar with your entire family (even at age 7 or 8, children understand money concepts). Or, you and your spouse agree to lock up a credit card for a month or two and agree not to use them.

Reward yourself! If you’ve reached your budget goals—even if it’s only the first month—give yourself a small reward. But here’s the deal, you need to determine what the ‘reward’ will be BEFORE you meet your goal, so you have something to look forward to.


Grenny says that if you use these strategies, the odds of sticking with your financial resolutions go up 400 percent. Please let me know if you need help in restructuring your debt or would like to review your refinance options.