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What's your Financial New Year's Resolution?

What's your Financial New Year's Resolution?

January 04, 2017

A new year is an exciting time for everyone. There are new possibilities for us all, both personally and professionally. A fresh start and clean slate.

I've always been a big fan of thinking about goals, the future, and the "big picture". Even sometimes to a fault. It’s way more fun to day dream about our bright futures and forget about some of the grinds in our todays.

Did you make a New Year's Resolution this year? I think my new one is to be a gym owner. Do those guys just print money every January?

Were any of your resolutions related to your personal finances? Here are some tips I've learned over the last few years at Ashford that I think can help. I'll give you a hint. Most of them are related to BEHAVIOR. I swear that has to be a big chunk of everything we do. If you don't follow one of my business coaches, Joe Delisi (, you should. Behavior is a big topic I promise you'll see in his posts.

  1. Set a game plan. 

This kind of seems obvious, doesn't it? But how many of you are reading this going, "I'm going to pay off my debt in '17" or "I'm going to start investing" or "I'm going to finally establish that cash position/emergency fund."

Well, these things aren't going to happen without an action plan! How can you break down these goals into "bite size" steps? Instead of thinking about a goal from an annual perspective, how about quarterly, monthly, weekly or even DAILY. 

  1. Have someone to hold you accountable.

I played quarterback in college, but lately I've looked like a pulling guard. One of my resolutions is to get back in shape and I started working with a trainer in the fall. My wife, Melinda, is pretty good about reminding me that I probably should get to the gym instead of hitting the snooze button for the third and fourth time. 

Who's going to hold you accountable to your financial resolution? Is it a spouse, a friend, me? We all need someone to remind us that people are in our corner and rooting for us to go get what’s important to us.

  1. Track your progress and adjust when needed.

How are things going a week into your new goal? What do you need to adjust? What's working and what's not? I was watching a Gary Vaynerchuk YouTube video today and he said, "what's going to be your February 19th resolution?" His point was we never check back in and we never regroup. We get knocked down, we forget about it, and move on.

If you feel like you've fallen off the wagon check back in with the people who hold you accountable, make your adjustments, and get back on the horse.

  1. Just Do It! 

Quote credit above to Phil Knight and Nike but in all seriousness:

"If it is important to you, you will find a way. If not, you'll find an excuse." -Ryan Blair