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Financial tips and money-saving advice from Goldenwest Credit Union

Do New Year's Resolutions Really Work?

December 29, 2015

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As the new year approaches, the expectations of making and keeping New Year’s resolutions looms. Losing weight, taking control of finances, getting more organized, spending more time volunteering….the guilty list goes on and on. But does making a New Year’s Resolution really work?

Success Rate

If you struggle with keeping your New Year’s resolutions, you’re not alone. In fact, according to a study conducted by psychology professor, John Nocross, 77% percent of those who make New Year’s goals were able to keep them for one week, but by the end of the second year, only 17 percent were still going strong.

Lack of Motivation

Timothy Pychl, a professor of psychology at Carleton University in Canada, says there is a big reason most New Year’s resolutions fail. He argues that “resolutions are a form of cultural procrastination. We make resolutions in an effort to motivate ourselves, but people aren’t ready to change their habits, especially bad habits, which could account for the high rates of failure.”

Let’s Be Realistic

A second reason for the failure of New Year’s resolutions, according to Dr. Avya Sharma of the Canadian Obesity Network, is that people set goals that are simply unrealistic. Seriously? You plan to work out 10 hours per week? Last year, your idea of a work-out was getting up to change the television channel!

Too Broad

The last reason, according to experts, for not keeping resolutions is they aren’t specific enough. Rather than saying “I’m going to lose weight this year” your goal should be to lose a specific amount of weight by a specific date. “I’m going to lose 10 pounds by March 1st.” Part of being specific is having a plan. How are you going to lose weight? What steps specifically will you take? And most importantly, can you make these changes life-long? If not, then you will most definitely slip back into your old ways.

What should I do?

Making goals gives us direction in life and something to work toward. There are always things we can do to improve ourselves, whether personally, professionally, or spiritually. If we just throw in the towel on setting goals, we have given up on becoming a better, happier person.

So this year, think about one or two goals that you would like to incorporate into your life. Remember….every day is the first day of a new year. So don’t feel pressure to make a New Year’s resolution on January 1, and when you fail-don’t wait until next year to set another goal. Rather, when you are ready to make a life-style change, write down a realistic, specific goal with specific steps to help you find success in the new year…whenever your new year begins.

Candice Caldwell
Marketing Analyst

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