5 MORE Resolutions You Should Be Making for 2013. Act Now!

January’s basically done, and once you miss the January effect, you tend to fall back into the same old, same old routine. Then February will come and catch you and before you know it, Easter, summer, and then Christmas. According to an article I saw on The Week about 45% of Americans make at least 1 resolution each year, but 2 weeks later only 71% maintained those resolutions, 6 months later more than half have given up, and eventually 88% of persons fail.

New Year’s Resolutions Research by The Week

You Don’t Have to Fail

Without turning this into a motivational session (because I know you’re anxious to see the 5 resolutions you should be making), let me just remind you that you don’t have to fail in achieving your objectives this year . 2013 can be the year of success for you by following some well known, very effective tips. As Michael Hyatt says in his post about how to make your new years resolutions stick;

1. Don’t plan too many resolutions – stick to a few manageable, easy to remember goals. Don’t List goals beneath goals (like goals with sub-points) or try to cheat in any way. Just make the list short.
2. Make the goals S.M.A.R.T. – I wont go over the details here, as he has written about how to do this, and also this is quite a popular technique. Just remember Specific, Measurable, Actionable, Realistic and Time-bound.
3. I’ll include the rest in this bullet. Write them down and Share them with others. Don’t forget to pray about them.

Lets build a strategy for success | Photo by Hikingartist

The Big 5 Resolutions You Should Be Making

So now that you know that this can be a year like no other, here are the 5 resolutions you should be making. Let this year be the year of MORE.

1. Learn MORE –Let 2013 be the year you decide to finally find out about some of those things that you always wondered about. Ask yourself, can I answer these questions?
   • Do I have a pension?
   • How much will I earn when I retire?
   • How much am I saving towards my retirement each month (before tax?)
   • What is the stock market?
   • Can I pay less taxes if…?
   • Do I understand those deductions coming from my salary?
   • What do I need to do to start a business?
2. Save MORE – Try to save a set amount each month this year. There are many ways to stick to your saving goal, many strategies to ensure that you remember to do it each month. Whether you set up a salary deduction, or join a partner plan. Let this be the year you save more.
3. Earn MORE – Get a promotion, start a business, and if you already have one,  start a second business. This year we have to, as my friend says, ‘have multiple streams of income’. Some of us have dreams of being entrepreneurial, let this be the year!
4. Invest MORE– Take some risk! Invest in something new. Here are 5 things you can try this year;
   • Buy some stocks
   • Buy some real estate
   • Invest in mutual funds
   • Buy Government repos (repurchase agreements)
   • Invest in tax-free long term investments
5. Give MORE – Some of us need to start, and some of us need to increase. This year, devote a certain percentage of your income to giving. Give to God, give to charities, give to others. There are people all over in need. You don’t have to look far to realize. This year let’s give more.
6. Bonus! Borrow MORE – Yes! Since this is the year of more, heck yes. More loans. Of course, only borrow for good purposes. There is good debt and bad debt. This year we want debt that will make us better off – school,  starting a business, or buying a home. Bad debt is for things that will loose value and end us costing us more e.g. paying back debts, or buying a car (that you will not work from and won’t increase your income). Borrow more, but only to grow your wealth. If not, don’t. In this case I will break my more rule and say borrow less.

Have a good 2013.

What are some of YOUR resolutions?