How to Stay On Track with Your Financial Wellness Goals

Happy New Year!

The new year is an obvious time to start new habits and take steps to cross off those pesky items lingering on your to-do list. It’s a fresh start! A clean slate! 

One day over the holiday break I went snowshoeing in Vermont. A fresh snow had fallen overnight, and there were still flurries in the air. It was a beautiful morning to traipse through the woods, and the fact that I was carving new tracks with my snowshoes seemed to hold a special metaphorical meaning - it was the end of a decade after all! We were blazing a new trail in the snow, and into 2020!

Have you already hit the ground running this week with your new year goals and intentions? Are you already blazing your own fresh tracks into a gleaming, glistening 2020? 

Sometimes setting new goals can feel daunting, so I like to remember how much fun and joy can be had when you start implementing! If you’re anything like how I was last week, I couldn’t wait to lay down some big quasi-tennis-racket-looking footprints in the untouched powder! 

A greater focus on personal well-being is a common new year’s resolution. This can mean different things to different people – getting more sleep, eating more vegetables, going to yoga once a week, etc. These can all be wonderful ways to emphasize self-care. 

Paying more attention to personal finances and fostering mindful money habits is another way to spotlight an enhanced focus on your overall well-being. After all, money is the #1 reported stress by Americans today. 

A desire to live your best life or a plan to reduce stress without looking at your financial wellness may be ignoring something rather important….just sayin’.

Here are 3 strategies to consider as you dive into execution mode with your 2020 financial wellness goals and intentions:

1.     Recognize your current mindset

If you want to set yourself up for success to achieve your financial wellness goals this year, it’s important to acknowledge where you are now. Jumping into implementation without an adequate recognition of your current status can often lead to stall-outs and longer timelines to achieve your goals. 

Let’s use an example to illustrate this point….

Have you ever found yourself thinking money is a “bit of a bother”? Like “oh money, I just don’t want to pay attention to you. Frankly, I don’t want to deal with you at all.” And then the next thought you have is “Can’t you just be there for me? Be there whenever I want you! Anytime I want you! Come on, money, just be there, will you?” 

Ummmm….if you’ve ever been in any relationship that even resembled that dynamic, I’m willing to venture it was not an attractive one. 

Without genuinely acknowledging your current mindset or energetic vibe, you won’t know what you want to change. And once you can observe what’s happening in your own mind, you will be more equipped to change it. 

2.     Write down your goals

Sounds simple, but not many people do it. One study done by Dominican University’s Dr. Gail Matthews, a professor of psychology, discovered that people who write down their goals are 42% more likely to achieve them. That sounds worth it to me!

When writing down your goals, use action verbs or write them in the tense as if you already achieved them. For example:

In 2020, I’ve paid off my credit cards and am debt-free. 

Or

In 2020, I review my financial statements every quarter and feel in control of money.

Write it down. Look at it. Imagine yourself having attained your goal and how awesome it will feel!

3.     Have a plan to keep yourself accountable

How can you stay on track with your intentions? Start by paying attention to your environment. Are you surrounding yourself with others who are positively trying to enhance their own well-being? Doing so can offer more reinforcement and more energy to support you with your own goals.  

Consistency is key to goal attainment. You wouldn’t run a marathon without a training plan and routinely hitting the pavement, would you? By focusing on the incremental steps and the process to achieve your goals throughout the year, you can limit overwhelm! 

Use your calendar and set up an appointment with yourself every month or quarter to review your progress and the steps you’d still like to take.  Maybe even set up a reminder alert for the week before to prompt yourself to take a look at those goals you wrote down….

You can also seek more tailored coaching to lay out a personalize plan to reach your financial wellness goals or work with an accountability partner to keep you moving down your path! 

Consider January a clean slate and a boost of energy! Whatever your wellness goals and intentions are for 2020, you CAN do it!