Resolution Solution Part 1

The tradition of the New Year's Resolution dates back to 153 B.C. The Romans named the first month of the year after Janus -- not the mutual fund giant, but the god of beginnings and the guardian of doors and entrances. Janus was always depicted with two faces, one on the front of his head and one on the back, allowing him to look backward and forward at the same time. As a result of the mythical king’s ability to look back on past events and forward to the future, he became the ancient symbol for resolutions.

To honor this tradition of looking back at the old year and ahead to the new, many of us use this time of year as an opportunity to change something for the better…a fresh start. According to my unscientific research, the following often seem to be among the Top 10 of resolutions:

1. Lose weight
2. Stop smoking
3. Get financial life in order
4. Save or earn more money
5. Find a better job
6. Become more organized
7. Exercise more
8. Be more patient at work/with others
9. Eat better
10. Be a better person

Of course I am focused on the third one—achieving order in your financial life. So how can you actually get your financial life in order and make this year’s resolution stick? Old patterns and habits can be so difficult to change, but the task is not impossible. I have learned that it can be overwhelming to try to do too much at once, so pace yourself and do not expect financial nirvana to occur by the Super Bowl. If you know that your New Year's resolution has something to do with organizing your financial life, then you need to break it down from there. Nobody accomplishes anything of significance unless there are specific milestones associated with reaching the major goal.

The first step is to write down three main goals that you hope to tackle throughout the year. This doesn't have to be a complicated master plan -- just brainstorm enough to give you a place to start. Examples may be: “keep track of spending,” “pay down debt,” and “increase retirement funding,” or “calculate retirement need,” “establish a college funding plan,” and “write wills.” Remember, if you are able to accomplish your initial resolutions, you can always add more. Once you have actually written down the big three, put the list someplace that you will see it --- the fridge, a tack board or the office. By doing so, you will have a constant reminder of what you are trying to accomplish, making it more likely that you will hold fast to achieving your resolution. Tomorrow, we’ll tackle more resolutions!