New Year + New Goals = New You

Before I start, I’d like to wish you a Happy New Year! May 2019 be your best yet.

I’m reluctant to say I’ve created any New Year’s resolutions. I really didn’t. I mean I had some ideas but I knew a diet wouldn’t last long and I knew I needed to shape up financially since I signed my mortgage closing documents in late November.

But having said that, I love the idea of a new year and a clean slate.

Poking around online this morning, I stumbled across this Forbes article advising against resolutions and suggesting setting a few specific goals instead. Most people make broad New Years resolutions (think eliminating alcohol for an entire year or getting into shape) and, according to Forbes, statistics show less than 25% of people are still committed to their resolution by the end of January.

Setting a specific goal makes it attainable, especially when you actively check in on your progress. Since I’m already on the progress reporting kick, I figured I would set some goals for me this new year.

So here goes nothing.

1) Pay off any renovation related debt (this one may be a little tricky because I won’t really know what the figure is for a few months, but I mean it is still pretty specific, right?)

2) Accumulate savings of $3,000 (that’s a cumulative balance - $3,000 annually is still a bit lofty for me)

3) Pay off the smaller of my two student loans (about $1,850)

Ok, so I know I’m starting small. I don’t want to set a discouraging goal and set myself up for disappointment when I don’t even come close. I would have loved adding something big like paying off my mortgage, but that won’t happen anytime soon unless I hit the lottery. Since I don’t play, my chances are pretty bleak.

Really, even though the list looks small and doable, I’m not 100% sure that I will make it through all three. But I’m going to be happy with any progress I make. Because any progress is good progress and is getting me closer to where I want to be.

With any luck, in 2020 those goals will be replaced with bigger and better goals. And eventually paying off my mortgage will definitely be up there. I mean, hopefully sometime much sooner than 2048!

For now, I want to be one of the 8% that accomplishes their New Year goals. So here’s to the new you (just know I’m pulling for you to hit whatever goals you set for yourself!) and the new (hopefully) less in debt me!