Making New Year’s resolutions has become almost cliché, because, let’s face it, most of us can’t make it to the end of January. The trick is tying your resolution to your current behavior and making it a habit. Let’s say you have resolved in 2012 to increase your 401(k) contributions. With your current budget, you may not have extra cash readily available, so you need to look for an expense you can cut to free up funds.
Denying yourself something you count on or truly enjoy can be the first step in failing to keep your resolution – just ask a chocolate lover who has tried to quit cold turkey as part of a diet, only to boomerang the next week by eating a whole box of truffles. You need to be creative to find expenses you can live without, without feeling denied. For example, maybe you love the silver screen and you reward yourself at the end of each work week with a night out at the movies. Using round numbers, you and your spouse will spend $20 for tickets.
What do you spend on snacks? Two drinks and a tub of popcorn can easily run $15 to $20 at most theaters. Instead of giving up movie night altogether, what about having that snack before you leave home? Cost of two 20-ounce bottles of pop and a bag of microwave popcorn – less than $5. You’ve saved $10 to $15. Do that every week, and you’ve saved $40 to $60 a month – approximately $500 to $700 a year – without giving up your movie night completely.
This is just one example of habits – like buying snacks at the theater – that can be eliminated without losing the things you need or love – like movies. If you can’t eliminate it entirely without feeling deprived or resentful, try reducing or making it a reward. For example, if you stick to your movie snack goal for three months, reward yourself for one night with those two sodas and popcorn – extra large with extra butter!
Your financial resolutions for 2012 may be bigger than an extra $500 in your 401(k) this year. We can help you find ways to meet your goals this year, and for many more, no matter how big or small. Call your personal financial advisor, Jordan Dechtman at 303-741-9772, email him at Jordan@JordanDechtman.com or visit our website at www.JordanDechtman.com to schedule time to discuss what you want to accomplish in 2012.
Income distribution planning is one of the most important areas for proper retirement planning. The ability to provide dependable and predictable income distribution will be necessary to enjoy a comfortable retirement. The Income for Life Model™ is a proven retirement solution which focuses on providing lifetime, inflation-adjusted income.
Turning Resolutions Into Habits – Week of January 3, 2012
by Jordan Dechtman
Making New Year’s resolutions has become almost cliché, because, let’s face it, most of us can’t make it to the end of January. The trick is tying your resolution to your current behavior and making it a habit. Let’s say you have resolved in 2012 to increase your 401(k) contributions. With your current budget, you may not have extra cash readily available, so you need to look for an expense you can cut to free up funds.
Denying yourself something you count on or truly enjoy can be the first step in failing to keep your resolution – just ask a chocolate lover who has tried to quit cold turkey as part of a diet, only to boomerang the next week by eating a whole box of truffles. You need to be creative to find expenses you can live without, without feeling denied. For example, maybe you love the silver screen and you reward yourself at the end of each work week with a night out at the movies. Using round numbers, you and your spouse will spend $20 for tickets.
What do you spend on snacks? Two drinks and a tub of popcorn can easily run $15 to $20 at most theaters. Instead of giving up movie night altogether, what about having that snack before you leave home? Cost of two 20-ounce bottles of pop and a bag of microwave popcorn – less than $5. You’ve saved $10 to $15. Do that every week, and you’ve saved $40 to $60 a month – approximately $500 to $700 a year – without giving up your movie night completely.
This is just one example of habits – like buying snacks at the theater – that can be eliminated without losing the things you need or love – like movies. If you can’t eliminate it entirely without feeling deprived or resentful, try reducing or making it a reward. For example, if you stick to your movie snack goal for three months, reward yourself for one night with those two sodas and popcorn – extra large with extra butter!
Your financial resolutions for 2012 may be bigger than an extra $500 in your 401(k) this year. We can help you find ways to meet your goals this year, and for many more, no matter how big or small. Call your personal financial advisor, Jordan Dechtman at 303-741-9772, email him at Jordan@JordanDechtman.com or visit our website at www.JordanDechtman.com to schedule time to discuss what you want to accomplish in 2012.