Polls / February 28, 2011

Are you still keeping your New Year resolutions?

Almost half – or 49% – of respondents to the latest eZonomics online poll did not make New Year resolutions. But of those who did make a pledge, 63% are still keeping the resolution and 37% are reneging on their promise.

“I resolve to make resolutions”
Just as eZonomics makes a point of asking this poll at the start of the year, it can be helpful to get in the habit of making and reviewing goals regularly. It might be that the start of the new year is a good time to review progress financial goals. But, as the video tutorial How to keep track of finances suggests, any time of the year will probably do - and making an appointment with yourself to work on finances several times a year can help.

Keep resolutions specific – and seek help from friends
Once resolutions are set – be they personal or financial – experts suggest certain strategies can help people achieve the targets.
The Happiness Project website offers 12 tips for sticking to resolutions and advocates that people keep resolutions specific, plan small steps to achieve the goals and seek help from friends along the way.
Behavioural economist Tim Harford says incentives and penalties can help people keep resolutions – and he adds that a bet with friends and colleagues can add to the pressure and incentivise people to achieve their goals. Website stickK.com takes it a step further by providing an online space where people make contracts with friends that have financial consequences to “stick” to goals.
Set a specific date and time. Put it in your calendar, set an automatic reminder or promise a friend. They are all methods to cut procrastination and help focus on meeting targets.

SpendingSavingTips

eZonomics team
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Would you tell your partner about any money worries?