New Year Financial Resolution(s)

2014-12-04 12:21

It is that time of the year when people generally start talking about coming up with resolutions of how they would want to change this or the other about their lives. A new year comes with hopes of turning over a new leaf, new beginnings, new opportunities etc. The interesting thing about resolutions is that they do not need to wait for a new year for you to begin implementing them. The start of a new month, new week or new day is opportunity enough for you to carpe diem (seize the day).

Resolution defined

A resolution is derived from resolve or simply re + solve i.e. to solve again. Most (if not all) of the resolutions we come up with are ways of us solving again something we should have already put into practice. The reason you need to keep ‘solving again’ is because you have been stuck in a particular way of doing things such that it is hard to disentangle yourself from that way of doing things (habits). As you gear up to come up with your New Year resolutions (spiritual, financial, career, relationships etc) the supreme goal I urge you to have is to change your thought pattern.

Your thought pattern provides the framework or lenses through which you view life and in turn determines the types of decisions you make. These decisions compound to become habits ingrained in your life and conditions your behaviour. Examination of ones behaviour is a sure indicator of the outcomes which one is likely to obtain if they continue down that particular path i.e. gives idea of the destination one will reach.

Sit down and examine your financial habits over the past year and see whether they have been constructive or destructive. This is the first step in order for you to make a resolution which is lasting rather than a fad which is here today and gone tomorrow.

Saving & Investing

Telling yourself that in 2015 I am going to save or invest a lot more is fair and fine- but the question is; what have you put in place to ensure you actually follow through with this? If you are already putting something aside are you doing so in an actual investment or it’s a savings account named ‘investment account’? Set up mechanisms such as a debit order to a savings or investment account with reputable financial institutions. In coming up with a monthly budget, set aside this money prior to going out to spend on unnecessary things.


It is not enough to tell yourself, “I resolve to get out of debt” without addressing the root cause (thought pattern) which underlies why you ended up being saddled with so much debt. Is it because you always try to keep up with the Jones’, can’t distinguish between what is a need and what is a want etc. If you don’t deal with the matter at the root then the issue will just sprout up again.


Unplanned purchases are the major cause of people being caught up in debt. Do you really need all of those clothing accounts which you have? Do you really need a smart phone, note book and tablet which all have different data plans instead of minimising the gadgets or getting a better data package? Have you done your homework before jumping to buy that item which is recently ‘on sale’?

Make sure you examine your financial habits or get someone to speak truth to you in love about your financial habits. It is better to get rebuked by a friend than to get praised by people who don’t have your best interests at heart.

May 2015 be a year of newness in your finances. As you become established, don’t forget to be a blessing to those around you- you are blessed to be a blessing.


AB praises selfless skipper

2010-11-21 18:15

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