2020’s New Year celebrations are over. Resolutions have been made (and possibly already discarded). Myriad “best of the decade” lists have been published. But time constantly moves forward and the cycle repeats itself again. Before you know it, it is 2021 and you haven’t accomplished nearly what you thought you would.
What if this year could be different?
With the promise of a fresh new decade ahead of us—it is only natural to take time to both look back to analyze our progress and look forward to map out new plans and imagine the possibilities of where life may lead us during the next year, decade, and beyond.
January’s tradition of reflection and projection is within this month’s name itself. In ancient Roman religion and myth, Janus is the god of beginnings, gates, transitions, time, duality, doorways, passages, and endings.
“Yesterday, you said tomorrow.”
This symbolic turning point offers us the perfect opportunity to stop doing what doesn’t work and explore new ways to help make us happier, healthier, and more purpose-driven.
One annual tradition to let go of is making New Year’s resolutions. How many years have you recommitted to lose weight, get in better shape, be more organized, or save more money?
Setting goals can be an extremely effective exercise. But, if you are not exploring the underlying reasons why you want to accomplish them, you may fail time and time again to keep your well-intentioned resolutions.
Rather than resolutions, take time to think about and define your “mission” for the coming year, decade, or even your entire life! How do your goals align with your values and convictions? What purpose they serve? By framing goals within a more holistic life mission, they are more likely to “stick”, build your confidence, and motivate you to do more.
“No day but today.”
An easy way to set yourself up for success—and one that you can start TODAY—is to take a critical look into your overall savings plan, wasteful spending, and debt to strengthen your financial health and increase your prosperity.
Commit to trying these five valuable exercises and you’ll find that you’ll be closer to where you want to be financially by this time next year ...
Cut wasteful spending. Creating a budget and sticking to it can help you limit unnecessary spending.
Create a cushion in your savings. After you establish your budget, save more for emergency expenses by using automatic transfers or savings platforms. These transfers make saving easy because you don’t have to think about it.
Get a handle on credit card debt. If you have multiple credit cards, you may want to consolidate to one or two cards. Start by transferring your multiple balances to the credit card with the lowest interest rate. Then, challenge yourself to lower these balances by spending only cash on everything you purchase for an entire month and see how it affects your spending habits.
Improve your credit rating. Whether you’re looking to buy a new home, rental property, car, or solar panels, your credit score matters because borrowers with low credit scores can face higher interest rates. This year, make it a priority to research your credit report, make sure everything is accurate, and then take the necessary action to improve it.
Protect your estate. If you don’t have an estate plan, now’s the time to create one. If you already have one, now may be the time to make sure it’s up to date. Life changes can alter your estate wishes and should be addressed as they happen to ensure that you’re always prepared.
Luckily, you don’t have to do it alone!
Team Treece is committed to helping you stay on track for life. From your first attempts at goal setting and budgeting to second opinions, financial check-ups, and suggesting solutions for life’s changing needs—we are always here to listen, advise, and help you articulate a life mission that’s meaningful to you.