Forget New Year’s Resolutions.
Just be Sensible.

Forget R

January at my gym is a zoo!
It’s New Years resolution time.
The new “lose weight, be healthy” crowd flock in.

Parking, getting a lane in the pool, or getting a spot in my Pilates class takes on battle tones. Don’t get me wrong. I applaud the good intentions and I don’t mean to be disrespectful. But I do know that by the end of the month, parking won’t be an issue and I won’t be sharing a lane in the pool.

This happens every year. So why not just be healthy and go to the gym all year and be consistent?

It’s the same way with money.

Instead of making extreme resolutions that usually end up like the new workout clothes (stuffed in the back of your drawer!), how about just being sensible with your money all year round

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Do away with the resolutions once a year, and stick to the basics ALL year!
Here are 5 sustainable ways to handle your money:

5 ways to handle your money.

  1. Have clarity. Know where your money is going, how much you’re spending and how much you’re earning. Make friends with your budget and track your money.
  2. Live below your means. If you are carrying balances on your credit cards, then you are spending more than you earn. If you are spending all that you earn, then you are not saving. Which leads to #3.
  3. Save. Life happens. No matter how stable life looks now, things can change. Jobs, cars, health, the economy.Build 6 months of living expenses in savings. It’s a necessity.
  4. Pay yourself first. Retirement will come faster than you can imagine. So try to invest 20% of your paycheck every month into a retirement fund. If you really can’t do that much, start with something and keep building up to it. Here’s a good online retirement calculator to give you a rough idea of what you might need.
  5.  Self Reflect. Understand what emotions and unconscious beliefs drive your money behaviors. If you are spending to mask your happiness, or to build your self esteem you’re bound to make bad decisions. Managing beliefs and thoughts can help you take control of your finances and be smart about using money for the valuable tool that it actually is.

So, resolve to not make a new years resolution that is too extreme to keep. Just get to the basics when it comes to your money and be sensible all year, every year.