New Year’s resolutions.
Ah, January! That reflective time of the year when we reevaluate our career, goals, and relationships. When we look at the scale in the bathroom and sigh. When we sign up for an annual gym membership and only use it for three weeks.
Many of us set new year’s resolutions. Yet, if we’re honest, few of us actually follow through with them.
This, of course, includes setting resolutions for our finances. “This year I’m going to spend less!” we say, or “I’m going to start saving an extra $200 a month.” The list goes on: IRA contributions, setting up that college fund, paying down student loan debt, etc.
This brings us to our question for 2021.
“How’s that working out for you?”
If you’re on this blog, you’re most likely interested in finances, working smarter-not-harder, and passive income creation. You’re also probably interested in forming better habits with your money. Let’s consider some common trends in people’s finances and ask, “How’s that working out for you?”
- Do you only have a single source of income?
- Were your hours reduced this year?
- Did you lose your job because of the pandemic?
- Do you wish you had extra money to cover your car payment, bills, or student loans?
- Do you find yourself unable to save as much as you’d like each month?
- Each year, do your bills and expenses go up, but your income does not?
- Does your job pay you hourly with little hope of a significant wage increase?
- Do you feel stuck in a career, unable to leave for fear of not having enough money?
- Do you wish you had more to contribute to your retirement plans?
- Are you looking for a way to create more income that doesn’t involve a heavy investment of time or labor?
- Are you disappointed that your savings account doesn’t keep up with inflation?
If this list feels a bit painful, well, how’s that working out for you?
How about a fresh start?
Is it time for a change? Is it time for you to take advantage of an opportunity that is right in front of you? Is it time that you started having the problem of too much money instead of not enough money?