September is Self Improvement Month
Everyone can take advantage of this month to commit to self improvement. We all have at least one area of our lives that could use some tender love and care. This month reminds me of New Years Eve. At the end of the year it is estimated that 45% of adults make New Year’s resolutions. Have you ever really thought about what a New Year’s resolution is? In short a new year’s resolution is simply something in our lives that we would like to make better.
The question lingers how many people actually keep their resolution? Well according to studies only 46% maintain their resolution after 6 months! This means that the majority of us fall of the wagon so to speak. Some experts state that the top resolutions last year respectively were losing weight, quitting smoking and finances. I would venture to say this year the top resolution will be finances due to the economy. For those of you fortunate enough not to have finances as the top resolution, I can almost guarantee it is a close second. Let’s explore why and look at some statistics.
- The U.S unemployment rate in June of 2011 was reported at 9.2% however that number is much higher due to the fact that many people have settled for part time positions, while still looking for full time work. It is estimated that the actual unemployment rate is around 15% when taking into account the part time workers
- Foreclosure rates have hit record highs over the past few years.
- Creditors have started raising interest rates and reducing credit limits on borrowers.
- Free checking is suddenly disappearing.
- Gas prices are rising.
Unfortunately, there is little we can do to improve the economy as a whole. With that said there are actions you can take to improve your financial situation and make your September “resolution” be one that can better improve your financial livelihood. Below are some tips for sticking with your commitment to better improve yourself regardless if it is for finances, weight loss or anything else. These tips will help every resolution.
- Pick a realistic goal. Setting an unattainable goal will only lead to frustration and then you will not pursue that goal.
- Put a plan in place. For instance, if your goal is to save $500 in 6 months for a trip to Disneyland what steps are you going to take? Set a plan and go with it.
- Tell loved ones your goal. You may be pleasantly surprised at some of the insight that others can give you about their successes with reaching goals. Advice often times proves to be priceless. Plus, letting other people know what you are striving for will provide motivation for you.
- Keep track of your progress. Remember the journey you take to your goal will be just as rewarding as reaching it.
- It is ok if you slip up. Don’t get discouraged if every now and then your plan doesn’t work. For example you are dieting and can’t resist that slice of apple pie that is ok, or you are trying to save $50 per week for your trip and you are only able to save $10 this week. Life happens! No one is perfect and no plan is foolproof. The important part is that you get back on track for the future. You realize why you went off your plan and do everything in your power to jump back into it. Don’t consider a detour a roadblock.
