Financial Fitness

Only something like 25% or less keep their New Year's Resolutions. 

Can you think of why?

Most people make 2 major mistakes when they make resulotions: they try to change too much, too fast and/or they rely on will power to get there.

If you really want to keep your resolutions, start by making small ones.  Rather than trying to lose 30 pounds, start with maybe giving up soda or going on a walk every day.  The same principle can apply to your finances: instead of deciding to fix everything at once, maybe give up the vending machine at work or take a class such as Dave Ramsey's Financial Peace University.

The other essential component of a resolution you can keep is a means of keeping it that doesn't rely on will power.  As hard as it is to accept, the truth is that will power doesn't work.  Try creating accountability by getting a buddy involved, or even creating a reward system for yourself if you take steps toward your goals.

Happy 2011.  Make it great!