It’s that time of year again – the resolutions rush – the time of year when people resolve to make better choices, live better lives and be all around better people. However, by this point, most people are starting to falter on their resolutions. Whether it’s a resolution to take better control of your finances or shed a few pounds, statistics show that nearly 80% of resolutions fail by February. Why? Because resolutions tend to be centered around outcomes vs. true changes in behavior.
Because resolutions are, often, arbitrary goals (e.g., shed 10 pounds, grow my portfolio by 10%) that are not anchored in something meaningful, people tend to falter on them. Furthermore, if the goal is reached, people are left with, “what now,” which generally leads them to resorting back to the behavior they ultimately wanted to change.
This is why, at SignatureFD, we focus on “the why behind the what,” something we call NET WORTHWHILE™. So, what does that mean? Well, when we work with clients, instead of focusing solely on the numbers, we also look at what those numbers mean for the client and why. What is the significance and how will it impact them and the people and things that matter most to them? And, are there other options, possibilities, opportunities, or goals that we may help uncover as well?
So, how can you focus on “the why behind the what” to bring your resolutions back to life?
- Anchor your goals in something that matters: We look at wealth in four pillars – Grow, Protect, Give and Live. The percentage of emphasis that you place on each is specific to you. But, it allows us to help our clients connect their wealth with words that resonate with them. Try organizing your goals in buckets that mean something to you, e.g., take a trip with family, spend more time with friends. Then, the why is clear as you work on the how.
- Focus on activities, not results. You can control your activities, but you can’t always control the results. Don’t become too focused on future-based results. Put your effort into the areas of your life you want to focus on and stay the path. Remember to remain mindful and in the present moment.
- Make daily positive choices: It is our daily choices about how we spend our time and what we give our attention to that can shape our lives. Challenge yourself, daily, to commit to these behavior changes.
- Hone Your Skill of Resilience: Remember when we couldn’t wait for 2020 to be over? As if the flip of a calendar page would magically and radically change the course of things? Yet, here we are in 2021, facing the same hurdles we faced before, and fatigue and exhaustion continue to lurk at every corner. Remember that by practicing small acts of self-care, finding brief moments to see and express gratitude, and in anchoring in “the why behind the what” (your reason for these resolutions), you will not only be much more likely to stick to your resolutions but to achieve your desired results as well.
Don’t get lost in the resolutions flatline. Set yourself up for success by developing behavior-changing habits that become beliefs and ultimately make an impact for you this year and years to come.