2018 is here. What have you decided to make your New Year’s resolution? It obviously varies for each individual. But some examples include: losing weight, giving up drinking, giving up smoking, or get fit again.
Or maybe they are more professional than personal. Do you want to generate more clients and business? Take out a loan as capital for a small business start-up? Learn more about venture capital here.
Would you be surprised to learn that most people don’t keep their New Year’s resolutions? Of course not, keeping a resolution is difficult. But did you know that there is a science to it?
Continue reading to find out how to make a new year’s resolution and keep it!
Let’s break it down
What is a New Year’s resolution? It is time to reflect on the year just past and think about the things you could change. Remember that making adverse or dramatic changes is not the idea of your resolution.
Think of it as a catalyst of thought. Something as simple as ‘get a promotion’ involves an elaborate plan that only begins when you write it down as your resolution.
New Year’s resolutions last the whole year, not only the first month or first day. Be prepared to go the distance. You need to start slowly and develop good habits over time. Like eating for example.
If your goal is to stop eating fast food every day and start eating healthy, try and introduce good foods in small portions. You could even loan your credit or debit card to a friend or family member.
Advise them that you will only pay for groceries in cash, so you won’t be tempted into buying fast food on the go.
Make small, achievable milestones
Going too hard, too early is a mistake. By setting small goals to achieve throughout the year, you are setting yourself up for success. And you don’t want to set yourself anything ridiculously unattainable.
‘Start a business and make $1M profit in the first year’ is bold, but most likely unachievable without small loans for capital.
Back to exercise. You aren’t going to be able to run a marathon by February. Yes, you may be able to run a marathon eventually, but start setting yourself 5k, 10km milestones to achieve along the way.
This method also means you won’t burn out!
Don’t be hard on yourself
The last thing you want to do is beat yourself up. Setting a New Year’s resolution is a fun and positive act, don’t lessen it with small bouts of negativity. Talk about it with your friends and family.
Bring them up to speed on your intentions. They might want to join you on your journey or even loan you the tools to help you get there.
Having a strong support network is a great way to make sure you stay on path to achieving your milestones, and inevitably, your New Year’s resolution.
Sharing the load with someone else is a proven method of reaching success. You will be more motivated to run if someone else is running with you.
Things to remember
Another great method of goal setting is the acronym, SMART, which stands for Specific, Measurable, Achievable, Relevant and Time-bound.
You can read more about choosing a resolution and using SMART here:
How do you think you will do this year? Remember, by setting small, achievable milestones, you are helping yourself achieve the bigger picture.
If your goal is to save $5000 for an overseas holiday in July without taking out a small loan, what are the steps to get you there? Break it down into smaller numbers. Six months is roughly 24 weeks.
$5000 divided by 24 weeks is $208. Can you save $208 a week, or do you need to rethink the amount you want to save? You could even rethink your destination to make it more financially viable
If you feel you need help, seek it. There are amazing resources all around us. You will probably find a great documentary about weight loss or giving up cigarette smoking on a media streaming service like Netflix.
If you prefer it old school, loan out some books from the library. Each small step like this, is a step in the right direction.
Learn more about New Year’s resolution setting here.
*Continue reading about small loans here: Should You Take Out Loans To Pay Off Debt?